江苏锦鸡实业股份有限公司 2022 年第一季度报告全文 债券代码：123129 债券简称：锦鸡转债 证券代码：300798 证券简称：锦鸡股份 公告编号：2022-027 江苏锦鸡实业股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中 财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | | --- | --- | --- | --- | | 营业收入（元） | 250,279,811.87 | 251,234,069.95 | -0.38% | | 归属于上市公司股东的净利润（元） | 8 ...

Financial Performance - The company reported a total revenue of RMB 417,748,945 for the year 2021, with a cash dividend of RMB 0.30 per 10 shares to all shareholders[5]. - The company's operating revenue for 2021 was CNY 993,470,872.82, representing a 31.83% increase compared to CNY 753,586,711.44 in 2020[19]. - Net profit attributable to shareholders for 2021 was CNY 52,438,791.03, a significant increase of 129.07% from CNY 22,892,203.04 in 2020[19]. - The total assets at the end of 2021 reached CNY 2,137,707,738.17, a 39.85% increase from CNY 1,528,625,972.38 at the end of 2020[19]. - The company's basic earnings per share for 2021 was CNY 0.13, reflecting a 160.00% increase from CNY 0.05 in 2020[19]. - The weighted average return on equity for 2021 was 4.18%, an increase of 2.29 percentage points from 1.89% in 2020[19]. - The total profit reached 62.05 million yuan, reflecting a significant year-on-year growth of 126.12%[33]. - The company achieved an operating income of 993.47 million yuan, a year-on-year increase of 31.83%[33]. - The company reported a total of CNY 60,642.99 in non-recurring gains for 2021, compared to CNY 6,270,991.30 in 2020[24]. Risks and Challenges - The company faces various risks including macroeconomic risks, safety production risks, and raw material price risks, which could impact future performance[5]. - The company is facing challenges from fluctuating procurement prices of dye intermediates, which introduce uncertainty in operating costs[33]. - The textile industry in China is facing challenges from rising labor costs and environmental constraints, leading to a shift of low-end production capacity to countries like Vietnam and India[51]. - The dyeing and printing industry faces challenges such as weak global economic recovery and increased environmental pressures, necessitating accelerated transformation[53]. - The company acknowledges risks from macroeconomic fluctuations and international trade tensions, particularly due to geopolitical factors[134]. - Future market expansion may be hindered if the company fails to meet technological and policy requirements, potentially leading to underutilization of new production capacity[138]. - The ongoing COVID-19 pandemic continues to pose uncertainties that could adversely affect the company's profitability and project outcomes[140]. Research and Development - The company developed three new products, including Reactive Yellow Brown NA and Reactive Blue CE, which have been successfully launched in the market[36]. - R&D expenses amounted to 33.18 million yuan, representing 3.34% of the company's operating income, maintaining a stable investment ratio[36]. - The company plans to enhance its R&D capabilities and develop high-end multi-purpose reactive dyes, focusing on five high and one low characteristics[132]. - The company is increasing its investment in disperse dyes, which have a higher annual market demand compared to reactive dyes[132]. - The company is focusing on developing dye intermediates to enhance the quality and stability of raw material supply, thereby reducing costs[132]. - The company has established partnerships with universities for R&D, enhancing its capabilities in new materials and processes[66]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its product offerings in the dye industry[12]. - The company aims to have 95% of dye enterprises located in industrial parks by 2025, promoting group development through mergers and acquisitions of 40% of enterprises[31]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[162]. - The company plans to continue expanding its market presence through strategic acquisitions and investments in new technologies[112]. - The company is actively exploring energy-saving and emission-reduction technologies to minimize environmental pollution during dye production[137]. Corporate Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has ensured compliance with relevant regulations[4]. - The company has established an independent financial accounting department and a financial management system, ensuring independent financial decision-making[146]. - The governance structure includes a shareholders' meeting, board of directors, and supervisory board, allowing for lawful exercise of management rights[146]. - The company has maintained effective internal control over financial reporting, with no significant deficiencies reported during the period[197]. - The company has adhered to a cash dividend policy that requires a minimum of 40% of profit distribution to be in cash, reflecting a commitment to shareholder returns[194]. Environmental and Safety Management - The company completed significant energy-saving modifications to its production facilities, contributing to reduced energy consumption and controlled carbon emissions[37]. - The company is focused on continuous investment in safety and environmental protection, with rising costs in these areas[33]. - The company has established effective safety production systems and has implemented a series of safety regulations to prevent accidents, although risks remain due to management and operational factors[136]. - The company has invested in environmental protection facilities and continuously increases investment in environmental governance to comply with stricter national policies, which may impact profitability[137]. Financial Management and Fundraising - The company raised a total of RMB 60,000 million through the issuance of 6,000,000 convertible bonds, with a net amount of RMB 57,523.92 million after deducting issuance costs[118]. - The total amount of funds raised in the public offering of A-shares was RMB 23,104.34 million, with a net amount of RMB 18,485.47 million after deducting various fees[117]. - The company has not encountered any significant issues in the use and disclosure of raised funds during the reporting period[119]. - The company plans to issue convertible bonds to raise funds for investment projects, with specific proposals discussed in board meetings[170]. Employee Management and Training - The company had a total of 683 employees at the end of the reporting period, with 432 in production, 29 in sales, 71 in technical roles, 10 in finance, and 141 in administration[179]. - The company conducted a comprehensive employee training program covering various topics including safety education and skills enhancement[181]. - A total of 402 individuals were trained in safety and environmental management through 8 sessions with external experts[182]. - The company organized 11 training sessions for sales personnel to enhance their skills and performance management[182]. Shareholder Returns - The company maintains a stable cash dividend policy, prioritizing cash dividends for profit distribution[184]. - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares (including tax), with a total cash dividend amounting to 12,532,495.35 CNY, which represents 100% of the total profit distribution[192]. - The total distributable profit for the year is reported at 84,901,837.35 CNY, indicating a strong profit position[192].

Financial Performance - The company's revenue for Q3 2021 was CNY 218,244,726.57, representing a 4.76% increase compared to the same period last year, and a total revenue of CNY 716,248,525.42 for the year-to-date, which is a 35.92% increase year-on-year[3]. - Net profit attributable to shareholders for Q3 2021 was CNY 10,983,186.94, a significant increase of 797.96% year-on-year, with a year-to-date net profit of CNY 47,798,791.99, reflecting a 1,033.26% increase[3]. - The total operating revenue for the third quarter of 2021 was CNY 716,248,525.42, an increase of 36% compared to CNY 526,948,881.20 in the same period last year[23]. - Net profit for the third quarter reached CNY 47,757,930.52, significantly higher than CNY 3,304,884.42 in the previous year, marking an increase of over 1,300%[25]. - The company reported a basic earnings per share of CNY 0.0263 for Q3 2021, up 806.60% year-on-year, and CNY 0.1144 for the year-to-date, an increase of 1,032.67%[3]. - The company's weighted average return on equity was 0.87% for the reporting period, an increase of 0.77% from the previous year-end[3]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,515,781,617.56, showing a slight decrease of 0.84% from the previous year-end[3]. - The company's total liabilities decreased to CNY 266,071,299.75 from CNY 304,355,814.29, indicating a reduction of approximately 12.6%[22]. - The company’s total liabilities decreased by 0.84% compared to the previous year-end, reflecting a stable financial position[3]. - The company's equity attributable to shareholders reached CNY 1,249,710,317.81, an increase from CNY 1,213,489,387.66, showing a growth of about 3%[22]. Cash Flow - The company experienced a significant increase in cash flow from operating activities, with a year-to-date net cash flow of CNY 4,713,413.56, up 410.10%[3]. - The cash flow from operating activities showed a positive trend, contributing to the overall financial health of the company[27]. - The net cash flow from operating activities for the current period is ¥4,713,413.56, a significant increase from ¥924,024.95 in the previous period, reflecting improved operational efficiency[28]. - Cash inflows from operating activities totaled ¥494,158,459.68, up from ¥412,127,096.63, indicating a growth of approximately 19.9%[28]. - Cash outflows from operating activities increased to ¥489,445,046.12 from ¥411,203,071.68, resulting in a net cash flow from operations of ¥4,713,413.56[28]. - The net cash flow from investing activities rose to ¥12,570,891.36 compared to ¥2,949,506.85 in the previous period, showing a substantial increase of over 325%[29]. - Total cash inflows from investing activities were ¥222,087,531.88, compared to ¥152,999,506.85, marking an increase of approximately 45.3%[29]. - The net cash flow from financing activities was negative at -¥33,465,391.45, worsening from -¥9,590,882.38 in the previous period[29]. Research and Development - The company increased its R&D expenses to CNY 23,603,160.99 for Q3 2021, a rise of 34.17% compared to the same period last year, indicating a commitment to innovation[8]. - Research and development expenses increased to CNY 23,603,160.99 from CNY 17,592,199.15, reflecting a growth of approximately 34%[23]. Investments and Financing - The company reported a decrease in investment income to CNY 1,864,625.41, down 37.84% year-on-year, attributed to reduced returns from financial products[8]. - The company plans to issue convertible bonds to raise funds for the "Phase I Fine Chemical Products Project," aiming to enhance its operational scale and competitiveness[12]. - The company received approval from the Shenzhen Stock Exchange for its application to issue convertible bonds, confirming compliance with issuance and listing conditions[18]. - The company is actively responding to inquiries from the Shenzhen Stock Exchange regarding its convertible bond issuance, demonstrating its commitment to transparency and compliance[16]. - The company has not disclosed any related party transactions among its top shareholders, indicating a focus on governance and shareholder relations[11]. - The company is in the process of revising its responses to feedback from the Shenzhen Stock Exchange, ensuring that all regulatory requirements are met[17]. - The company has not reported any changes in the number of preferred shareholders, indicating stability in its capital structure[12]. Inventory and Receivables - The company’s accounts receivable stood at ¥208,769,145.32, down from ¥222,239,440.12 at the end of 2020, indicating a decrease of about 6.1%[20]. - The inventory level was CNY 267,792,054.77, slightly down from CNY 280,326,967.11, indicating effective inventory management[21]. - The total amount of trading financial assets decreased to ¥60,783,452.05 from ¥90,210,566.47, reflecting a decline of approximately 32.5%[20]. - The company reported an increase in prepayments to ¥23,155,655.72 from ¥20,437,438.64, which is an increase of about 8.4%[20]. Audit and Compliance - The company did not undergo an audit for the third quarter report, which may affect the reliability of the financial data presented[31].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥498 million, representing a 56.30% increase compared to the same period last year[20]. - The net profit attributable to shareholders reached approximately ¥36.82 million, a significant increase of 1,129.37% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥40.39 million, reflecting an increase of 48,669.45% compared to the previous year[20]. - The basic earnings per share for the period was ¥0.0881, up 1,123.61% from ¥0.0072 in the same period last year[20]. - The company's operating revenue for the reporting period reached ¥498,003,798.85, representing a year-on-year increase of 56.30% due to the gradual control of the pandemic and improvement in the domestic market economy[51]. - The company's operating costs amounted to ¥405,964,041.04, which is a 47.06% increase compared to the previous year, attributed to the growth in sales revenue[51]. - The gross profit margin for dyeing products improved to 17.51%, up by 4.88% from the previous year, while printing products saw a gross profit margin of 25.42%, an increase of 3.43%[53][54]. - The company reported a total profit of CNY 43,058,507.41 for the first half of 2021, a significant increase from CNY 3,854,119.77 in the first half of 2020[187]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.52 billion, a slight decrease of 0.81% from the end of the previous year[20]. - The company's total assets as of the end of the reporting period amounted to CNY 762,618,133.20, slightly down from CNY 777,816,008.43 at the end of the previous period[184]. - The company's current assets totaled CNY 985,061,571.16, down from CNY 1,014,927,001.27 at the end of 2020, indicating a decrease of approximately 2.5%[178]. - The total liabilities decreased to CNY 277,590,394.17 from CNY 304,355,814.29, a reduction of about 8.8%[179]. - The company's equity attributable to shareholders increased to CNY 1,238,727,130.87 from CNY 1,213,489,387.66, showing a growth of approximately 2.1%[180]. Cash Flow - The company reported a negative net cash flow from operating activities of approximately -¥26.95 million, a decline of 201.16% compared to the previous year[20]. - The company achieved a net increase in cash and cash equivalents of -¥45,553,926.58, a decline of 276.35% due to reduced operating cash flow[51]. - Cash flow from operating activities showed a net outflow of -26,950,860.21, contrasting with a net inflow of 26,642,162.16 in the same period of 2020[194]. - The total cash outflow from financing activities was 62,392,067.64, leading to a net cash outflow of -30,215,391.45 from financing activities[195]. - The company's cash flow from operating activities showed resilience despite the overall negative cash flow trend in investing and financing activities[198]. Investments and Projects - The company is constructing a 15,000-ton environmentally friendly high-end disperse dye project and a 2,000-ton textile digital printing ink project, enhancing its production capacity[27]. - The company is currently constructing several projects, including a fine chemical product project and an environmentally friendly high-end disperse dye project, which will enhance product variety and reduce reliance on external dye intermediates[46]. - The total investment for the new project involving the production of 2,000 tons of textile digital printing ink and 1,000 tons of high-purity colorants is not to exceed 100 million yuan[157]. - The company plans to issue convertible bonds to raise funds for the "Phase I Fine Chemical Products Project" to enhance its operational scale and competitiveness[151]. Market and Industry Position - The textile dyeing and printing industry is recovering as the global COVID-19 pandemic eases, positively impacting the company's performance[33]. - The company ranks among the top in the active dye segment in terms of capacity, output, and sales over the past three years, with a total of 30 series and over 400 varieties of active dyes[35]. - The company is expanding its product range to include digital printing inks and high-purity colorants, improving its industry layout[28]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2023[113]. Research and Development - Research and development investment increased by 29.88% to ¥13,777,331.05, reflecting the company's commitment to innovation[51]. - The company's R&D expenses for the first half of 2021 were CNY 13,777,331.05, up from CNY 10,607,446.62 in the same period of 2020, marking an increase of about 29.5%[185]. - The company has applied for 40 national invention patents, with 26 granted, and has registered 43 trademarks, enhancing its intellectual property portfolio[38]. Environmental and Social Responsibility - The company emphasizes eco-friendly practices, being a BLUESIGN partner and achieving multiple environmental certifications for its products, which facilitates international market access[40]. - Environmental protection measures have been implemented, including investments in waste treatment facilities, to comply with stricter national environmental regulations[80]. - The company has established a self-monitoring plan for environmental emissions, which has been filed with the local environmental authority[95]. - The company emphasizes its commitment to social responsibility, focusing on shareholder returns, employee welfare, and environmental sustainability[96]. Risks and Challenges - The management highlighted potential risks including macroeconomic conditions, safety production, and raw material price fluctuations[5]. - The company is facing risks related to macroeconomic fluctuations, particularly due to ongoing US-China trade tensions and the impact of the COVID-19 pandemic on global supply chains[78]. - The company is actively managing raw material price risks by maintaining long-term relationships with key suppliers and adjusting inventory based on market conditions[80]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[6]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[92]. - The company has not engaged in any significant equity investments during the reporting period[63]. - The company has not reported any significant impact from ongoing litigation on its operations[130].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥498 million, representing a 56.30% increase compared to the same period last year[20]. - The net profit attributable to shareholders for the same period was approximately ¥36.82 million, a significant increase of 1,129.37% year-on-year[20]. - The net profit after deducting non-recurring gains and losses reached approximately ¥40.39 million, marking an increase of 48,669.45% compared to the previous year[20]. - The basic earnings per share for the first half of 2021 was ¥0.0881, up 1,123.61% from ¥0.0072 in the same period last year[20]. - The company's revenue for the reporting period reached ¥498,003,798.85, a 56.30% increase compared to ¥318,611,936.11 in the same period last year, attributed to the gradual control of the pandemic and improvement in the domestic market economy[51]. - The company's gross profit margin for dyeing products was 17.51%, up from 12.63% in the previous year, while the gross profit margin for printing products was 25.42%, an increase from 22.99%[53][54]. - The company reported a significant increase in investment income, amounting to ¥1,647,748.61, contributing 3.83% to the total profit[56]. - The company reported a commitment to not transfer or entrust the management of shares for 36 months from the date of the IPO, ensuring shareholder confidence[108]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.52 billion, a slight decrease of 0.81% from the end of the previous year[20]. - The company's total assets as of June 30, 2021, amounted to ¥762,618,133.20, a slight decrease from ¥777,816,008.43 at the end of 2020[184]. - The company's total liabilities decreased from CNY 304,355,814.29 at the end of 2020 to CNY 277,590,394.17 as of June 30, 2021, reflecting a reduction of approximately 8.8%[179][180]. - The total equity attributable to the parent company increased from CNY 1,213,489,387.66 at the end of 2020 to CNY 1,238,727,130.87, reflecting a growth of approximately 2.1%[180]. - The company's cash and cash equivalents decreased by 276.35% to -¥45,553,926.58, primarily due to a reduction in operating cash flow[51]. - The company's cash and cash equivalents were CNY 182,416,574.78, down from CNY 209,470,501.36, representing a decline of approximately 12.9%[177]. Cash Flow - The company reported a negative net cash flow from operating activities of approximately ¥26.95 million, a decline of 201.16% compared to the previous year[20]. - The cash flow from operating activities showed a significant improvement compared to the previous period, indicating better operational efficiency[198]. - The net cash flow from operating activities was CNY 14,709,684.39, a decrease of CNY 94,683.88 compared to the previous period[198]. - The net cash flow from investing activities was -CNY 29,965,346.58, with cash inflows totaling CNY 55,000,000.00 and outflows of CNY 34,965,346.58[198]. - The net cash flow from financing activities was -CNY 16,250,044.87, with cash inflows of CNY 32,176,676.19 and outflows of CNY 48,426,721.06[198]. Investments and Projects - The company is constructing a project with an annual production capacity of 15,000 tons of environmentally friendly high-end disperse dyes[27]. - A project for producing 2,000 tons of textile digital printing ink and 1,000 tons of high-purity inkjet printing dyes is also in preparation[28]. - The company is currently constructing several projects, including a fine chemical product project and an environmentally friendly high-end disperse dye project, which will enhance product variety and reduce reliance on external dye intermediates[46]. - The total planned investment for the new project involving the production of 2,000 tons of textile digital printing ink and 1,000 tons of high-purity colorants is not to exceed 100 million yuan[157]. - The company plans to issue convertible bonds to raise funds for the "Phase I Fine Chemical Products Project" to enhance its operational scale and competitiveness[151]. Research and Development - Research and development investment increased by 29.88% to ¥13,777,331.05, reflecting the company's commitment to innovation and product development[51]. - The company has applied for 40 national invention patents, with 26 patents granted, and has registered 43 trademarks, enhancing its intellectual property portfolio[38]. - Research and development expenses for the first half of 2021 were ¥13,777,331.05, up from ¥10,607,446.62 in the first half of 2020, reflecting an increase of approximately 29.5%[185]. Market and Sales - The company achieved operating revenue of 498 million CNY, a year-on-year increase of 56.30%[33]. - The company has established a complete direct sales system with over 40 professional sales and application service team members[30]. - The company is expanding its product categories and industry layout through horizontal and vertical expansions in the dye industry[27]. - The company is focusing on energy-saving and environmentally friendly product development to align with national industrial policy and enhance brand value[35]. - The company is expanding its market presence, targeting a 10% increase in market share in the next fiscal year[115]. Risk Management - The management highlighted potential risks including macroeconomic conditions, safety production, and raw material price fluctuations[5]. - The company faces risks from macroeconomic fluctuations, particularly due to the ongoing US-China trade tensions and their impact on the textile and dyeing industries[78]. - The company has established a robust safety production system to mitigate risks associated with the handling of flammable and toxic materials[79]. - Environmental protection measures have been implemented, including investments in facilities to manage waste and emissions, in response to stricter national policies[80]. Corporate Governance - The company has not made any significant equity investments during the reporting period[63]. - The company has not reported any overdue amounts from entrusted financial products, maintaining a healthy financial position[72]. - The company has not engaged in any major asset or equity sales during the reporting period, indicating stability in its asset management[75]. - The company has not participated in any derivative investments or entrusted loans, reflecting a conservative financial strategy[74]. - The company has committed to avoiding competition with its subsidiaries and related parties[120]. Environmental Responsibility - The company emphasizes eco-friendly practices, with its main products achieving BLUESIGN certification, indicating international recognition in resource productivity and consumer safety[40]. - The company has implemented a wastewater treatment system with a capacity of 800 tons/day and a treatment efficiency of over 95% for air emissions[93]. - The company has established a self-monitoring plan for environmental emissions, which has been filed with the local environmental authority[95]. - All environmental monitoring results for wastewater, air emissions, and noise during the reporting period complied with legal requirements[95]. - The company has actively increased and upgraded environmental protection facilities, ensuring compliance with environmental laws and regulations without any major pollution incidents during the reporting period[100].

Financial Performance - The company's revenue for Q1 2021 was CNY 251,234,069.95, representing a 24.79% increase compared to CNY 201,324,588.78 in the same period last year[8]. - Net profit attributable to shareholders was CNY 20,776,583.75, a significant increase of 172.93% from CNY 7,612,396.16 year-on-year[8]. - The net profit after deducting non-recurring gains and losses reached CNY 20,503,697.59, up 187.41% from CNY 7,133,999.26 in the previous year[8]. - Basic earnings per share increased to CNY 0.0497, reflecting a growth of 173.08% compared to CNY 0.0182 in the same quarter last year[8]. - The company achieved operating revenue of ¥251,234,069.95, a year-on-year increase of 24.79% due to the recovery of the dye industry as the pandemic situation improved[15]. - Net profit attributable to shareholders reached ¥20,776,600, representing a year-on-year growth of 172.93% driven by increased sales and improved gross margin[17]. - The gross profit margin increased to 17.65%, up 4.89 percentage points from the previous year, attributed to rising product prices and sales revenue[15]. - Total operating revenue for Q1 2021 was CNY 251,234,069.95, an increase from CNY 201,324,588.78 in the previous period[47]. - Total operating costs for Q1 2021 were CNY 225,161,360.77, up from CNY 192,807,029.17 year-over-year[48]. - Net profit for Q1 2021 reached CNY 20,800,298.36, compared to CNY 7,456,168.21 in the same period last year, representing a significant increase[49]. - The company reported a gross profit of CNY 44,072,709.18 for Q1 2021, reflecting improved operational efficiency[48]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 1,561,894,977.68, a 2.18% increase from CNY 1,528,625,972.38 at the end of the previous year[8]. - The net assets attributable to shareholders were CNY 1,233,063,344.48, which is a 1.61% increase from CNY 1,213,489,387.66 at the end of the last year[8]. - The company's current assets totaled CNY 1,044,337,642.42 as of March 31, 2021, compared to CNY 1,014,927,001.27 at the end of 2020, indicating an increase of about 2.9%[39]. - The total liabilities of the company were CNY 318,027,148.16 as of March 31, 2021, up from CNY 304,355,814.29 at the end of 2020, marking an increase of about 4.5%[41]. - The company's equity attributable to shareholders increased from CNY 1,213,489,387.66 on December 31, 2020, to CNY 1,233,063,344.48 by March 31, 2021, reflecting a growth of approximately 1.6%[42]. Cash Flow - The net cash flow from operating activities was negative at CNY -18,264,971.92, worsening by 76.70% compared to CNY -10,336,704.67 in the same period last year[8]. - Cash flow from operating activities showed a net outflow of ¥18,264,971.92, a 76.70% increase in outflow compared to the previous period, indicating rising operational costs[16]. - The company received cash inflow from financing activities amounting to ¥22,184,976.19, while cash outflow was ¥40,184,976.19, resulting in a net cash outflow[60]. - The company reported a significant increase in cash received from other operating activities, totaling 7,049,267.35 CNY compared to 4,659,725.97 CNY in the previous year[56]. - The net cash flow from investment activities for Q1 2021 was ¥5,000,000, compared to ¥34,000,000 in the same period last year, indicating a significant decrease[60]. Investments and Projects - The company completed the registration of 8 high-tech products and continued to track 7 new products developed in 2020, indicating a focus on R&D[18]. - The company is advancing the construction of the fine chemical products project, having obtained necessary permits and officially commenced construction[19]. - The total investment for the fine chemical products project (Phase I) is ¥124,787.28 million, with significant funding needs due to ongoing projects[21]. - The company plans to raise funds through convertible bonds to support the fine chemical products project, reflecting its strategy to expand operational scale[23]. - The company approved the issuance of convertible bonds to unspecified objects, with a total fundraising amount of 18,485.47 million yuan[25]. - The company plans to invest up to 100 million yuan in a new project to produce 2,000 tons of digital printing ink and 1,000 tons of high-purity colorants, utilizing idle land from a halted project[25]. - The company has invested 601.38 million yuan in the current quarter, with a total of 3,822.52 million yuan invested cumulatively, representing 20.68% of the planned investment[30]. - The company has adjusted its investment projects due to industry upgrades and the impact of the pandemic, changing the focus from a 30,000-ton high-end active dye project to a fine chemical products project[30]. - The new fine chemical products project will produce 39,600 tons of H acid and 368,500 tons of sulfuric acid and acetic acid, which are essential raw materials for active dye production[30]. Shareholder Information - The top shareholder, Zhao Weiguo, holds 18.42% of the shares, with a total of 76,951,817 shares[11]. - The company intends to acquire a 6% stake in its subsidiary, Tai Xing Jin Hui Chemical Co., Ltd., for a base price of 13,931.91 million yuan, to optimize its equity structure and enhance control[26]. - The company has completed the registration for the acquisition and paid a transaction deposit of 1.5 million yuan[26]. Compliance and Governance - The company has not reported any overdue commitments from its actual controllers, shareholders, or related parties during the reporting period[28]. - The company reported no violations regarding external guarantees during the reporting period[32]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[34]. - The company did not undergo an audit for the Q1 2021 report, which may affect the reliability of the financial data presented[61]. - The company has not applied the new leasing standards for the financial statements, indicating a potential area for future compliance[61].

Financial Performance - Revenue for Q1 2021 reached ¥251,234,069.95, an increase of 24.79% compared to ¥201,324,588.78 in the same period last year[8] - Net profit attributable to shareholders was ¥20,776,583.75, representing a significant increase of 172.93% from ¥7,612,396.16 year-over-year[8] - The net profit after deducting non-recurring gains and losses was ¥20,503,697.59, up 187.41% from ¥7,133,999.26 in the previous year[8] - Basic earnings per share rose to ¥0.0497, a 173.08% increase compared to ¥0.0182 in the same period last year[8] - The weighted average return on equity improved to 1.70%, up from 0.63% year-over-year, reflecting enhanced profitability[8] - The gross profit margin increased to 17.65%, up 4.89 percentage points from the previous year, driven by higher product prices and sales revenue[17] - Net profit attributable to shareholders reached CNY 20.78 million, representing a year-on-year growth of 172.93%[17] - The company reported a significant increase in tax expenses, with taxes and surcharges amounting to CNY 2.17 million, up 166.82% year-on-year due to increased sales revenue[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,561,894,977.68, a 2.18% increase from ¥1,528,625,972.38 at the end of the previous year[8] - Net assets attributable to shareholders increased to ¥1,233,063,344.48, up 1.61% from ¥1,213,489,387.66 at the end of the last year[8] - Total liabilities increased to CNY 318,027,148.16 from CNY 304,355,814.29, reflecting a rise of approximately 4.4%[41] - The company's equity attributable to shareholders reached CNY 1,233,063,344.48, up from CNY 1,213,489,387.66, indicating an increase of about 1.6%[42] Cash Flow - The net cash flow from operating activities was negative at -¥18,264,971.92, worsening by 76.70% compared to -¥10,336,704.67 in the same period last year[8] - Cash flow from operating activities showed a net outflow of CNY 18.26 million, a decrease of 76.70% compared to the previous year, primarily due to increased cash outflows related to taxes and operations[16] - The cash inflow from financing activities was 22,184,976.19 CNY, with no cash outflow reported in this category[57] - The cash flow from investment activities showed a net inflow of 3,619,923.57 CNY, a recovery from a net outflow of -50,000.00 CNY in the previous year[56] Investments and Projects - The company plans to invest up to 100 million yuan in a new project to produce 2,000 tons of textile digital printing ink and 1,000 tons of high-purity colorants, utilizing idle land from a halted project[25] - The company is advancing the construction of the fine chemical products project, having obtained necessary permits and officially commenced construction[19] - The total investment for the fine chemical products project (Phase I) is CNY 124.79 million, with a funding gap that the company plans to address through various financing methods[21] - The company has halted the dye intermediate project and is reallocating resources to a fine chemical products project, which will produce 39,600 tons of H acid and 368,500 tons of sulfuric and acetic acids annually[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,844, indicating a stable shareholder base[11] - The company has agreed to participate in a bid to acquire 6% equity in its subsidiary, Tai Xing Jin Hui Chemical Co., Ltd., for a base price of 13.93191 million yuan, aiming to optimize the equity structure and enhance control[26] - The company has not reported any overdue commitments from actual controllers, shareholders, or related parties during the reporting period[28] Operational Efficiency - The company has implemented lean production methods to reduce waste and improve efficiency in operations[20] - The company is closely monitoring macroeconomic trends to adjust its development strategies and operational methods accordingly[21] - The company has adjusted the investment project from producing high-end active dyes to fine chemical products to improve investment efficiency and returns[30] Research and Development - The company completed the registration of 8 high-tech products and made continuous improvements to 4 existing products during the reporting period[18] - Research and development expenses for Q1 2021 were CNY 4,736,183.12, slightly higher than CNY 4,464,753.76 in the previous year[48] Compliance and Governance - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] - There were no violations regarding external guarantees during the reporting period[32] - The company did not undergo an audit for the Q1 2021 report[61]

Financial Performance - The company's revenue significantly declined due to the impact of the COVID-19 pandemic, with a notable drop in demand from the downstream dyeing industry[6]. - The sales price of reactive dyes reached a new low in recent years, leading to a substantial decrease in net profit compared to the previous year[6]. - The subsidiary, Taixing Jinhui Chemical Co., Ltd., experienced significant losses due to the downturn in the dye intermediate industry, further affecting the consolidated net profit attributable to shareholders[6]. - The company's operating revenue for 2020 was ¥753.59 million, a decrease of 32.96% compared to ¥1,124.06 million in 2019[20]. - The net profit attributable to shareholders was ¥22.89 million, down 76.24% from ¥96.34 million in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥16.62 million, a decline of 81.96% from ¥92.14 million in 2019[20]. - The basic earnings per share decreased by 80% to ¥0.05 from ¥0.25 in 2019[20]. - The total profit for the year was 27.44 million yuan, down 75.49% year-on-year[56]. - The company reported a quarterly revenue of ¥228.34 million in Q4 2020, showing a recovery trend compared to previous quarters[22]. Strategic Initiatives - The company plans to enhance its profitability by improving R&D capabilities, expanding product categories, and accelerating the construction of disperse dye projects[9]. - The company aims to extend its industrial chain upstream by accelerating the construction of dye intermediate projects to enhance raw material self-sufficiency and reduce costs[9]. - The company is expanding its production capacity with ongoing projects for 15,000 tons of environmentally friendly high-end disperse dyes and a fine chemical product project[29]. - The company is focusing on technological innovation and the development of new products to meet the increasing demands of the market[38]. - The company plans to enhance energy-saving and environmental protection equipment technology to reduce energy consumption and pollution[39]. - The company has established partnerships with universities such as Nantong University and Dalian University of Technology for research and development in new materials and processes[42]. Risk Management - The company acknowledges various risks, including macroeconomic risks, safety production risks, and raw material price risks, which may impact future operations[9]. - The company emphasizes the importance of strengthening corporate culture and team collaboration to improve management efficiency and effectiveness[9]. - The company acknowledges risks from macroeconomic fluctuations, particularly in the textile and apparel sectors, which are sensitive to economic cycles and international trade tensions[126]. - The company has established long-term partnerships with key raw material suppliers to mitigate risks associated with raw material price fluctuations and supply shortages[130]. Environmental and Safety Compliance - The company has a daily wastewater treatment capacity of 1,500 tons at its subsidiary, Jin Hui Chemical, meeting the GB8978-1996 standard for wastewater discharge[49]. - The company has invested in environmental protection facilities and is committed to reducing pollution, but remains exposed to potential regulatory changes that could increase costs[129]. - The company has implemented comprehensive safety management measures, enhancing the overall safety production system and ensuring stable safety production conditions[64]. - Jin Hui Chemical completed safety management system improvements and passed 19 safety inspections, identifying and rectifying 160 safety hazards[66]. Research and Development - The company invested 24.57 million yuan in R&D, accounting for 3.26% of operating revenue, maintaining a stable R&D investment ratio[58]. - The company has applied for a total of 30 national invention patents, with 23 patents granted as of the end of the reporting period[43]. - The company plans to establish a national-level R&D center to enhance product development and optimize existing processes, aiming to improve product performance[125]. Profit Distribution - The profit distribution plan includes a cash dividend of 0.2 RMB per 10 shares, based on a total of 417,748,945.00 RMB[10]. - The company maintains a stable cash dividend policy, ensuring that cash dividends do not fall below 10% of the distributable profits for the year[139]. - The total distributable profit for the year was 94,344,558.34 CNY, indicating a cash dividend payout ratio of 36.50% of the net profit attributable to shareholders[147]. - The company did not distribute any stock dividends or capital reserves for the fiscal year 2020, maintaining a focus on cash dividends[146]. Market Trends and Competitive Position - The overall dye industry demand remains relatively stable, with a trend towards concentration due to stricter safety and environmental policies and intense market competition[6]. - The dyeing industry in China has become the largest in the world, with a production capacity of 790,000 tons in 2019, accounting for approximately 70% of global output[37]. - The company ranks among the top in the industry for active dye capacity, output, and sales over the past three years, with major production concentrated in Zhejiang, Jiangsu, and Shanghai, accounting for over 90% of the national total[121]. Financial Management - The company reported a net increase in cash and cash equivalents of ¥54,797,945.32, down 17.27% from the previous year[90]. - The company has a strong cash flow position with 400 million RMB in cash reserves, providing a solid foundation for future investments[163]. - The company has not experienced any significant changes in the feasibility of its projects[112]. - The company has not raised any additional funds beyond the initial offering[112]. Legal and Compliance Matters - The company faced a patent infringement lawsuit from Huntsman Advanced Materials (Switzerland) Ltd. involving an amount of CNY 20 million, which was dismissed by the Beijing Intellectual Property Court[176]. - The company was ordered to return equipment payments totaling CNY 2,082,320 and compensation of CNY 6,310,998.40 due to a ruling by the Taihu City People's Court[177]. - The company has not reported any significant litigation or arbitration matters that would impact its profits[176].

Financial Performance - The company's revenue significantly declined due to the impact of the COVID-19 pandemic, with a notable drop in demand from the downstream dyeing industry[6]. - The sales price of reactive dyes reached a new low in recent years, leading to a substantial decrease in net profit compared to the previous year[6]. - The subsidiary, Taixing Jinhui Chemical Co., Ltd., experienced significant losses due to the downturn in the dye intermediate industry, contributing to a sharp decline in net profit attributable to shareholders[6]. - The company's operating revenue for 2020 was ¥753,586,711.44, a decrease of 32.96% compared to ¥1,124,055,459.88 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥22,892,203.04, down 76.24% from ¥96,340,939.00 in 2019[19]. - The net profit after deducting non-recurring gains and losses was ¥16,621,211.74, a decline of 81.96% compared to ¥92,140,847.11 in 2019[19]. - The company's cash flow from operating activities was ¥44,936,396.36, a decrease of 10.92% from ¥50,445,396.70 in 2019[19]. - The basic earnings per share for 2020 was ¥0.05, down 80.00% from ¥0.25 in 2019[19]. - The total profit for the period was 27.44 million yuan, down 75.49% year-on-year[56]. - The net profit attributable to shareholders was 22.89 million yuan, reflecting a 76.24% decline compared to the previous year[56]. Strategic Initiatives - The company plans to enhance its profitability by improving R&D capabilities, expanding product categories, and accelerating the construction of disperse dye projects[8]. - The company aims to strengthen its upstream supply chain by investing in dye intermediate projects to reduce raw material costs and improve profit margins[8]. - The company is expanding its production capacity with ongoing projects for 15,000 tons of environmentally friendly high-end disperse dyes and a fine chemical product project[28]. - The company is focused on rapid R&D and production of new products to meet diverse customer needs, despite limited production line capacity[32]. - The company has established partnerships with universities for research and development in new materials and processes, enhancing its innovation capabilities[41]. - The company plans to enhance energy-saving and environmental protection equipment to reduce energy consumption and pollution[38]. - The company aims to develop dye intermediates, particularly H-acid, to enhance the quality and stability of raw material supply while reducing costs[125]. Risk Management - The company acknowledges various risks, including macroeconomic conditions, safety production, environmental protection, and raw material price fluctuations, which may impact future operations[8]. - The company has established a safety production system and emphasizes employee health and safety, but still faces potential safety production risks[128]. - The company is subject to environmental protection risks due to the potential impact of stricter regulations on waste management and pollution control[130]. Profit Distribution - The profit distribution plan includes a cash dividend of 0.2 RMB per 10 shares, based on a total of 417,748,945 shares[9]. - The company maintains a stable cash dividend policy, ensuring that cash dividends do not fall below 10% of the distributable profits for the year[140]. - The company aims for cumulative cash dividends over three years to be no less than 30% of the average annual distributable profits during that period[140]. - The company prioritizes cash dividends in profit distribution, with conditions for cash dividends including positive distributable profits and sufficient cash reserves[139]. - The total distributable profit for the year was 94,344,558.34 CNY, indicating a cash dividend payout ratio of 100%[145]. Market Position and Competition - The competitive landscape in the dye industry is shifting from price competition to comprehensive competition based on brand, technology, and service[37]. - The company has a comprehensive product line of 30 series and over 400 varieties of reactive dyes, positioning it among the leaders in the industry[37]. - The company has a market share of approximately 70% of the global dye production, indicating a strong position in the industry[124]. - The company plans to expand its marketing network and establish strategic partnerships with key customers, focusing on international market development[125]. Research and Development - The company invested 24.57 million yuan in R&D, accounting for 3.26% of operating revenue, maintaining a stable R&D investment ratio[58]. - The company has applied for a total of 30 national invention patents, with 23 patents granted as of the end of the reporting period[42]. - The company successfully developed 8 new products, with 3 already generating good economic benefits in the market[58]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing operational efficiency and product quality[156]. Compliance and Governance - The company has established a mechanism for independent directors to provide opinions on profit distribution proposals, ensuring transparency and accountability[142]. - The company has not engaged in any related party transactions during the reporting period[183]. - The company has fulfilled its commitments to minority shareholders on time[172]. - The company has not faced any delisting situations following the annual report disclosure[176]. Operational Efficiency - The company has implemented 6S management and TPM, identifying 2,120 issues in equipment management, including 240 safety hazards eliminated[67]. - The company has completed the installation of energy-saving modifications, which are expected to reduce energy consumption and wastewater discharge[59]. - The company has achieved a daily wastewater treatment capacity of 1,500 tons at its subsidiary, meeting the GB8978-1996 standards for wastewater discharge[49].

Financial Performance - Operating revenue for the reporting period was ¥208,336,945.09, representing a decrease of 22.25% year-on-year, while year-to-date revenue decreased by 43.22% to ¥526,948,881.20[7] - Net profit attributable to shareholders was ¥1,223,130.08, down 95.94% year-on-year, with a year-to-date net profit of ¥4,217,801.18, down 95.20%[7] - Basic and diluted earnings per share were both ¥0.0029, reflecting a decrease of 96.54% year-on-year[7] - The weighted average return on equity was 0.10%, down 96.59% compared to the previous year[7] - The company expects a net profit attributable to shareholders to decline by 81.31% to ¥1,800,000, compared to ¥9,634,090 in the same period last year[21] - The net profit for Q3 2020 was CNY 3,304,884.42, a significant decrease from CNY 88,129,547.93 in the same period last year, reflecting a decline of approximately 96.25%[47] - The total profit for Q3 2020 was CNY 6,482,268.60, down from CNY 102,327,577.43 in Q3 2019, indicating a decrease of about 93.66%[47] Cash Flow - The net cash flow from operating activities was negative at -¥25,718,137.21, a decline of 251.99% compared to the same period last year[7] - The net cash flow from operating activities was ¥924,024.95, a decrease of 95.65% compared to ¥21,254,632.60, mainly due to reduced sales revenue[15] - The company reported a net cash flow from operating activities of CNY 924,024.95, a significant drop from CNY 21,254,632.60 in the previous year[55] - The net cash flow from investment activities was 2,949,506.85 CNY, a decrease of 14,800,524.62 CNY compared to the previous period[56] - The cash flow from financing activities was -9,590,882.38 CNY, compared to a positive flow of 502,990.49 CNY in the previous period[59] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,511,194,935.37, a slight increase of 0.02% compared to the previous year[7] - Total liabilities increased to CNY 305,458,500.67 from CNY 287,536,319.03 in the previous period, reflecting a rise of approximately 7.5%[31] - Current liabilities totaled CNY 292,219,604.04, compared to CNY 272,533,925.56 in the previous period, indicating an increase of about 7.2%[31] - Non-current liabilities decreased to CNY 13,238,896.63 from CNY 15,002,393.47, a decline of approximately 11.7%[31] - Cash and cash equivalents rose to CNY 64,569,983.07 from CNY 47,395,512.52, representing an increase of about 36.3%[32] - The company's retained earnings decreased to CNY 519,909,184.31 from CNY 536,578,830.38, a reduction of approximately 3.1%[32] - The total equity attributable to shareholders was CNY 1,194,814,985.80, down from CNY 1,211,484,631.87, reflecting a decrease of about 1.4%[32] Shareholder Information - The company reported a total of 11,883 common shareholders at the end of the reporting period[11] - The top shareholder, Zhao Weiguo, holds 18.42% of the shares, totaling 76,951,817 shares[11] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[12] Operational Costs and Expenses - Operating costs decreased by 36.84% to ¥457,645,821.02 from ¥724,577,245.91, as sales revenue declined significantly[15] - Research and development expenses were ¥17,592,199.15, down 49.29% from ¥34,689,693.48, due to delays caused by the pandemic[15] - The company reported a significant decrease in income tax expenses, down 77.62% to ¥3,177,384.18 from ¥14,198,029.50, due to a sharp decline in operating profit[15] - The company’s management expenses increased to CNY 2,950,244.67 from CNY 2,376,196.88 in the previous year, representing an increase of about 24.1%[50] Future Plans and Projects - The company plans to raise up to ¥60,000,000 through the issuance of convertible bonds for the fine chemical products project in Ningxia[18] - The company has established a wholly-owned subsidiary in Ningxia for the fine chemical products project, with the project being approved by the board of directors[17] Other Financial Metrics - Non-recurring gains and losses included government subsidies amounting to ¥3,426,044.09, primarily from listing rewards and other government incentives[8] - The company incurred a credit impairment loss of CNY -152,094.77, an improvement from CNY -2,496,748.22 in the previous period[38] - The company reported other income of CNY 1,246,044.09, a decrease from CNY 1,356,692.06 in the previous year, reflecting a decline of approximately 8.14%[47]