Financial Performance - The company's operating revenue for the first half of 2022 was CNY 806,721,572.68, representing a 22.52% increase compared to CNY 658,427,693.41 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 88,141,353.02, up 25.34% from CNY 70,323,109.63 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 88,253,970.66, a 42.23% increase from CNY 62,050,340.56 in the same period last year[20]. - The basic earnings per share increased to CNY 0.49, reflecting a growth of 25.64% compared to CNY 0.39 in the previous year[20]. - The total operating revenue for the first half of 2022 was CNY 806,721,572.68, an increase of 22.5% compared to CNY 658,427,693.41 in the first half of 2021[183]. - The total profit for the first half of 2022 was CNY 92,040,272.26, compared to CNY 74,879,675.13 in the same period of 2021, marking an increase of 22.8%[185]. - The total comprehensive income for the first half of 2022 was CNY 84,748,618.52, compared to CNY 68,865,841.06 in the previous year, an increase of 23%[185]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,333,714,395.03, a 7.03% increase from CNY 2,180,361,543.12 at the end of the previous year[20]. - The total liabilities increased to CNY 831,052,499.90 as of June 30, 2022, from CNY 748,399,175.50 at the start of the year, marking an increase of 11.0%[177]. - The company's equity attributable to shareholders increased to CNY 1,481,945,124.76 as of June 30, 2022, from CNY 1,407,518,333.34 at the beginning of the year, representing an increase of 5.3%[177]. - The company's total assets as of June 30, 2022, amounted to CNY 2,333,714,395.03, compared to CNY 2,180,361,543.12 at the beginning of the year, representing an increase of 7.0%[177]. Cash Flow - The net cash flow from operating activities was CNY 19,945,874.65, down 45.75% from CNY 36,766,676.51 in the same period last year[20]. - Cash inflow from financing activities increased to CNY 439,451,016.22 in the first half of 2022, up 162.3% from CNY 167,652,654.27 in the same period of 2021[192]. - Net cash flow from financing activities improved to CNY 171,467,228.69, compared to CNY 37,988,549.61 in the first half of 2021, reflecting a positive trend in financing[192]. - The ending cash and cash equivalents balance increased to CNY 250,041,759.19, up from CNY 193,126,374.66 at the end of the first half of 2021[192]. Research and Development - The company has established 44 invention patents and 9 utility model patents as of June 30, 2022, indicating a strong focus on R&D[51]. - The company invested CNY 29,916,542.03 in R&D during the first half of 2022, a 25.08% increase from CNY 23,918,489.54 in the same period of 2021[74]. - The company is actively expanding its research and development efforts for new products and technologies, collaborating with universities to enhance the lactic acid industry chain[112]. Market and Industry Trends - The global biodegradable plastic production capacity in 2021 was 2.417 million tons, with 49.9% located in Asia[35]. - The ongoing global trend towards banning single-use plastics is expected to drive demand for biodegradable materials, with various countries implementing regulations to promote their use[34]. - The global biodegradable plastic market is expected to grow significantly due to increasing demand and advancements in production technology[43]. Investment and Projects - The company plans to invest in a project with an annual production capacity of 150,000 tons of biodegradable polylactic acid (PLA) materials during the 14th Five-Year Plan period[52]. - The project for producing 10,000 tons of polylactic acid biodegradable materials has not yet started due to pandemic-related delays and capacity considerations, with an expected completion date now set for August 2024[97]. - The company has committed to an investment of CNY 54,168.18 million, with a total investment of CNY 39,620.74 million and a cumulative input of CNY 33,646.62 million, achieving 72.33% of the planned investment[97]. Risk Management - The company has established a hedging management system to mitigate risks associated with raw material price fluctuations, particularly corn, which significantly impacts production costs[110]. - The company faces potential risks in foreign exchange hedging, including exchange rate fluctuation risk and customer default risk, which could lead to financial losses[105]. - The company plans to strictly control the scale of its hedging activities and optimize the combination of scale and duration to protect its interests[105]. Environmental and Social Responsibility - The company has signed contracts with qualified third-party testing units to monitor pollutant emissions, ensuring compliance with environmental standards[125]. - The company has contributed nearly 20 million RMB to local public welfare through donations in recent years[126]. - The company has invested in new equipment to reduce water consumption, achieving a decrease in water usage per unit of production[125].

Financial Performance - The company's revenue for Q1 2022 was ¥377,584,484.39, representing an increase of 18.18% compared to ¥319,492,683.60 in the same period last year[2]. - Net profit attributable to shareholders was ¥43,185,548.57, a growth of 54.75% from ¥27,906,648.99 year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥40,191,601.14, up 58.01% from ¥25,435,702.97 in the previous year[2]. - Basic earnings per share increased to ¥0.24, reflecting a 50.00% rise from ¥0.16 in the same quarter last year[2]. - Total operating revenue for the first quarter reached CNY 377,584,484.39, an increase of 18.14% compared to CNY 319,492,683.60 in the same period last year[18]. - Net profit for the quarter was CNY 42,585,093.25, representing a significant increase of 56.55% from CNY 27,200,769.28 in the previous year[19]. - The total comprehensive income for the period was CNY 42,782,635.56, compared to CNY 27,074,734.84 in the previous period, representing an increase of approximately 58.2%[20]. - Basic and diluted earnings per share increased to CNY 0.24 from CNY 0.16, reflecting a growth of 50%[20]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥2,280,530,733.91, a 4.35% increase from ¥2,185,402,728.73 at the end of the previous year[2]. - Total assets reached CNY 2,280,530,733.91, compared to CNY 2,185,402,728.73 at the beginning of the year, an increase of 4.34%[16]. - Total liabilities increased to CNY 795,396,191.37 from CNY 748,399,175.50, representing a rise of 6.27%[16]. - The equity attributable to shareholders rose to ¥1,460,196,500.17, marking a 3.48% increase from ¥1,411,047,163.27 at the end of the last fiscal year[2]. - The company’s total equity increased to CNY 1,485,134,542.54 from CNY 1,437,003,553.23, marking a growth of 3.34%[16]. Cash Flow - The net cash flow from operating activities was ¥20,727,718.72, down 20.84% from ¥26,185,385.55 in the same period last year[2]. - Cash inflow from operating activities was CNY 385,147,474.86, up from CNY 337,179,593.13, indicating an increase of about 14.2%[21]. - The net cash flow from operating activities decreased to CNY 20,727,718.72 from CNY 26,185,385.55, a decline of approximately 21%[23]. - Cash flow from investing activities showed a net outflow of CNY 86,584,652.38, worsening from a net outflow of CNY 34,725,192.87 in the previous period[23]. - Cash flow from financing activities generated a net inflow of CNY 99,134,714.97, compared to a net outflow of CNY 2,119,367.64 in the previous period, indicating a significant turnaround[23]. - The cash and cash equivalents at the end of the period totaled CNY 248,188,732.85, an increase from CNY 127,652,684.99 at the end of the previous period[23]. - The company received CNY 100,000,000.00 from investment recoveries, down from CNY 230,000,000.00 in the previous period, a decrease of approximately 56.5%[23]. - The company paid CNY 301,999,233.85 for goods and services, compared to CNY 261,811,905.24 in the previous period, reflecting an increase of about 15.3%[23]. Research and Development - The company reported a significant increase in research and development expenses, which totaled CNY 13,279,160.25, compared to CNY 12,616,662.18 in the previous year, reflecting a growth of 5.24%[19]. Non-Recurring Gains - The company reported non-recurring gains totaling ¥2,993,947.43, which included government subsidies and other income[4]. - The company reported a tax refund of CNY 34,483,423.07, significantly higher than CNY 8,833,105.09 in the previous period, marking an increase of approximately 290%[21]. Operating Costs - Operating costs amounted to CNY 333,632,362.38, up from CNY 293,851,986.51, reflecting a year-over-year increase of 13.54%[18]. - The increase in net profit was primarily driven by higher sales and prices of lactic acid products and corn by-products compared to the previous year[6].

Financial Performance - The company's operating revenue for 2021 was CNY 1,438,361,302.74, representing a 40.02% increase compared to CNY 1,027,255,392.26 in 2020 [16]. - The net profit attributable to shareholders for 2021 was CNY 132,711,426.20, a 10.94% increase from CNY 119,629,812.60 in 2020 [16]. - The net profit after deducting non-recurring gains and losses was CNY 110,063,045.66, up 4.15% from CNY 105,681,353.25 in 2020 [16]. - The net cash flow from operating activities decreased by 67.96% to CNY 48,729,701.04 from CNY 152,067,535.41 in 2020 [16]. - The total assets at the end of 2021 were CNY 2,185,402,728.73, a 24.80% increase from CNY 1,751,131,954.37 at the end of 2020 [16]. - The net assets attributable to shareholders increased by 8.43% to CNY 1,411,047,163.27 from CNY 1,301,347,038.61 at the end of 2020 [16]. - The company reported a basic earnings per share of CNY 0.73, a slight increase of 1.39% from CNY 0.72 in 2020 [16]. - The company experienced a decline in the weighted average return on equity to 9.72% from 11.28% in 2020 [16]. - The company received government subsidies amounting to CNY 27,954,604.63 in 2021, compared to CNY 24,816,751.63 in 2020 [21]. - The company reported a significant decrease in cash flow from operating activities in the third quarter, with a net cash flow of -CNY 2,758,776.76 [18]. Dividend Distribution - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares to all shareholders, based on a total of 180,654,547 shares [4]. - The total distributable profit as of December 31, 2021, was CNY 557,384,557.12 [161]. - The board proposed a cash dividend of CNY 0.75 per 10 shares, amounting to a total cash distribution of CNY 13,549,091.03 [162]. Market and Industry Insights - The global lactic acid market for food and beverage applications accounted for 46.40% in 2018, while the polylactic acid (PLA) market represented approximately 37.60% [28]. - In China, the food and beverage sector remains the largest application field for lactic acid, with a consumption share of about 70.40% [28]. - The PLA market in China is expected to reach an annual demand of nearly 1.2 million tons by 2022, creating a market space valued at over 10 billion RMB [36]. - The main consumption area for PLA is packaging materials, accounting for over 65% of total consumption [36]. - The increasing awareness of environmental issues is driving the demand for PLA, which is seen as a solution to white pollution, leading to a steady rise in lactic acid demand [26]. Production Capacity and Technology - The company currently has an annual production capacity of 178,000 tons of lactic acid and its derivatives, leading the domestic industry [36]. - The company has successfully overcome key technical bottlenecks in the production of lactide, enabling stable production of qualified lactide products [37]. - The PLA production technology has matured, with the two-step method being the preferred industrial process for high-quality PLA production [30]. - The company is focused on developing efficient, energy-saving, and environmentally friendly production technologies for lactic acid and its derivatives [40]. Research and Development - The company holds 40 invention patents and is in the process of applying for 8 additional patents as of December 31, 2021 [54]. - The company is actively pursuing technology innovation, including the development of natural acidifiers and fermentation by-products [54]. - The company has established partnerships with universities for R&D to develop new products and technologies in the lactic acid industry [115]. Governance and Management - The company has established a complete and independent organizational structure, ensuring clear responsibilities and workflows among its various departments [123]. - The company has a total of 10 directors and supervisors, reflecting a robust governance structure [144]. - The company has maintained a stable management team with no significant turnover in key positions [141]. - The board of directors held a total of 11 meetings during the reporting period, with all members present at each meeting [145]. Environmental Responsibility - The company is classified as a key pollutant discharge unit, with specific emissions monitored and reported [181]. - The company has established a control mechanism for fraud prevention, although some deficiencies were noted in the application of accounting policies [176]. - The company is committed to reducing carbon emissions through comprehensive management of water, waste, and energy [187]. - The company has invested nearly 20 million RMB in local public welfare initiatives, supporting poverty alleviation efforts [188]. Strategic Plans and Future Outlook - The company plans to expand its market presence and enhance product development in the upcoming fiscal year [130]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million yuan allocated for potential deals [136]. - The company plans to implement a new marketing strategy that is expected to increase brand awareness by 25% [136]. - The company aims to establish a world-class biodegradable materials base, focusing on a circular industry chain from corn to polylactic acid [111].

Financial Performance - The company reported a significant increase in revenue and profitability compared to the previous year, although specific figures are not provided in the extracted content [12]. - The company's operating revenue for 2021 was CNY 1,438,361,302.74, representing a 40.02% increase compared to CNY 1,027,255,392.26 in 2020 [17]. - The net profit attributable to shareholders for 2021 was CNY 132,711,426.20, a 10.94% increase from CNY 119,629,812.60 in 2020 [17]. - The net profit after deducting non-recurring gains and losses was CNY 110,063,045.66, up 4.15% from CNY 105,681,353.25 in 2020 [17]. - The total assets at the end of 2021 were CNY 2,185,402,728.73, a 24.80% increase from CNY 1,751,131,954.37 at the end of 2020 [17]. - The net assets attributable to shareholders increased by 8.43% to CNY 1,411,047,163.27 from CNY 1,301,347,038.61 at the end of 2020 [17]. - The basic earnings per share for 2021 was CNY 0.73, a 1.39% increase from CNY 0.72 in 2020 [17]. - The company reported a total operating revenue of CNY 424,918,310.88 in Q4 2021, the highest quarterly revenue for the year [19]. - The company received government subsidies amounting to CNY 27,954,604.63 in 2021, compared to CNY 24,816,751.63 in 2020 [22]. - The weighted average return on net assets for 2021 was 9.72%, down from 11.28% in 2020 [17]. Market and Industry Insights - The global lactic acid market for food and beverage applications accounted for 46.40% in 2018, while the polylactic acid (PLA) market represented approximately 37.60% [29]. - In China, the food and beverage sector remains the largest application field for lactic acid, with a consumption share of about 70.40% [29]. - In 2021, China filed 10,096 lactic acid patents, surpassing the United States, which had only 3,375 patents [27]. - The PLA market in China saw a consumption structure where food and beverage applications accounted for 69.2% in 2019, while PLA applications were only 14.1% [29]. - The PLA production technology has matured, with the two-step method being the preferred industrial process for high-quality PLA production [31]. - The PLA market in China is expected to reach an annual demand of nearly 1.2 million tons by 2022, becoming a market worth over 10 billion yuan [37]. - The main consumption area for PLA is packaging materials, accounting for over 65% of total consumption [37]. - The global biodegradable plastics market is experiencing continuous growth due to government regulations limiting plastic use [37]. Research and Development - The company is actively exploring new product development and technological advancements in the lactic acid sector [12]. - The company has achieved significant breakthroughs in L-lactic acid industrialization technology, recognized by the National Science and Technology Progress Award in 2011 [27]. - The company has a total of 40 invention patents and is currently applying for 8 additional patents as of December 31, 2021 [54]. - The company is focused on developing efficient, energy-saving, and environmentally friendly production technologies for lactic acid and its derivatives [41]. - The company is investing CNY 50 million to establish a wholly-owned subsidiary to enhance raw material supply through a corn production base [55]. - The company is actively pursuing technology innovation and has established research platforms in collaboration with various universities and research institutions [54]. Corporate Governance and Management - The company has established a comprehensive internal control system, covering 100% of the total assets and revenue of the consolidated financial statements [161]. - The company has a structured salary policy based on market principles, ensuring competitive compensation to attract talent [156]. - The company has established a strategic committee to review major investment decisions and long-term development strategies [152]. - The company has a clear policy on remuneration, ensuring that non-executive directors do not receive compensation unless they hold specific positions [142]. - The company has a diverse board with independent directors, ensuring governance and oversight [144]. - The company has established a comprehensive training system for employees, including orientation for new hires and annual training plans for existing staff [157]. - The company has established a complete and independent organizational structure, ensuring clear responsibilities and workflows [123]. Environmental Responsibility - The company is committed to reducing carbon emissions through comprehensive management of water, waste, and energy resources [185]. - The company has implemented measures to ensure compliance with environmental standards, including monitoring of emissions [179]. - The company has established an emergency response plan for environmental incidents, registered with the local environmental protection bureau [182]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [184]. - The company has actively participated in social responsibility initiatives, donating nearly 20 million RMB to local public welfare organizations [186]. Future Outlook and Strategic Plans - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year, targeting 1.32 billion yuan [136]. - The company plans to invest 100 million yuan in R&D for new technologies over the next two years [136]. - The company plans to expand the capacity of the polylactic acid project based on recent market trends and government policies promoting biodegradable materials [101]. - The company aims to establish a world-class biodegradable materials base, focusing on the corn-lactic acid-polylactic acid circular industrial chain [111]. - The company is committed to improving its brand value and market presence through a modern marketing system and enhanced customer engagement [111]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares to all shareholders, based on a total of 180,654,547 shares [4]. - The total distributable profit as of December 31, 2021, was 557,384,557.12 CNY, with the mother company having 583,994,852.24 CNY [159]. - The board proposed a cash dividend of 0.75 CNY per 10 shares, amounting to a total cash distribution of approximately 13,549,091.03 CNY [159]. Risk Management - The company emphasizes risk assessment, focusing on both internal and external risk factors, including economic conditions and market competition [163]. - The company faces risks from corn price fluctuations, which significantly impact production costs, as corn constitutes a large portion of the cost for lactic acid and its derivatives [113]. - The company recognizes the potential for increased competition in the lactic acid market, which could lead to price declines, and plans to enhance R&D to mitigate this risk [115].

河南金丹乳酸科技股份有限公司 2021 年第三季度报告 证券代码：300829 证券简称：金丹科技 公告编号：2021-053 河南金丹乳酸科技股份有限公司 2021 年第三季度报告 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: | | 本报告期 | 本报告期比 上年同期增减 | 年初至报告期末 年初至报告期末 比上年同期增减 | | | --- | --- | --- | --- | --- | | 营业收入（元） | 355,015,298.45 | | 43.10% 1,013,442,991.86 | 40.58% | | 归属于上市公司股东的净利润（元） | 40,812,072.25 | 7.99% | 111,135,181.88 | 7.71% | | 归属于上市公司股东的扣除非经常性损益的净利润（元） | 36,398,170.11 | 28.20% | 98,448,510.67 | 7.10% | | 经营活动产生的现金流量净额（元） | —— | —— | 34,007,899.75 | -74.77% | | 基本每 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥658,427,693.41, representing a 39.25% increase compared to ¥472,840,454.01 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥70,323,109.63, up 7.55% from ¥65,387,653.13 in the previous year[22]. - Basic earnings per share decreased by 11.36% to ¥0.39, compared to ¥0.44 in the previous year[22]. - The company reported a decrease of 2.33% in net profit after deducting non-recurring gains and losses, totaling ¥62,050,340.56 compared to ¥63,529,213.48 in the previous year[22]. - The weighted average return on net assets was 5.28%, down from 7.66% in the previous year, a decrease of 2.38%[22]. - The company reported a total comprehensive income of CNY 68,865,841.06 for the first half of 2021, compared to CNY 64,567,167.28 in the first half of 2020, indicating a growth of 5.5%[166]. - The total profit for the first half of 2021 was CNY 77,801,562.67, compared to CNY 74,888,003.42 in the same period of 2020, reflecting an increase of 2.5%[169]. Cash Flow and Investments - The net cash flow from operating activities decreased by 57.82% to ¥36,766,676.51, down from ¥87,175,702.19 in the same period last year[22]. - The company reported a significant decrease in cash flow from operating activities, indicating potential challenges in operational efficiency[176]. - The company received CNY 480,000,000.00 from investment recoveries during the first half of 2021[172]. - The company paid CNY 152,122,319.34 for the acquisition of fixed assets and other long-term assets[172]. - The net cash flow from investing activities was CNY -121,219.05, compared to CNY -62,603,235.11 in the previous year, indicating a significant reduction in cash outflow[176]. Market and Product Development - The company’s main products include lactic acid, sodium lactate, and calcium lactate, which are widely used in food, feed, biodegradable materials, and pharmaceuticals[30]. - The company is actively expanding its research and development efforts in collaboration with universities to enhance its product offerings and adapt to market changes[90]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[163]. - The company is focusing on research and development of new technologies to enhance its product offerings[184]. Operational Efficiency and Challenges - The company faced challenges such as rising prices of raw materials (corn, coal, sulfuric acid) and increased shipping costs due to the COVID-19 pandemic[32]. - The company implemented measures to enhance operational efficiency, including adjusting product sales structure and promoting internal management[32]. - The company’s production model is based on a sales-driven approach, optimizing production according to sales orders[33]. - The company reported a significant increase in employee compensation, rising by 8.08% to ¥4.54 million, accounting for 56.94% of total expenses[54]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,811,791,327.75, an increase of 3.46% from ¥1,751,131,954.37 at the end of the previous year[22]. - The total liabilities amounted to CNY 435,699,629.96, a rise of 5.0% from CNY 414,756,584.38[157]. - The total equity increased to CNY 1,370,372,431.47 in the first half of 2021, up from CNY 1,320,535,328.80 in the same period last year, marking a growth of 3.8%[162]. Shareholder Information - The total number of shareholders at the end of the reporting period was 14,520, with significant changes in shareholding among major shareholders[139]. - The largest shareholder, Zhang Peng, holds 32.69% of the shares, with a total of 59,049,600 shares after an increase of 22,143,600 shares[136]. - The company’s stock structure now includes 81,328,800 restricted shares and 99,325,740 unrestricted shares, reflecting a shift in ownership dynamics[133]. - The total number of shares held by the board members and senior management at the end of the reporting period was 88,755,200 shares, with a total increase of 33,283,200 shares[144]. Environmental and Social Responsibility - The company has established a comprehensive environmental management system, including advanced wastewater treatment technologies[101]. - The company reported a total nitrogen discharge of 28.31 tons and a total phosphorus discharge of 0.049 tons, both within regulatory limits[100]. - The company has contributed over RMB 19 million to local public welfare organizations as part of its social responsibility initiatives[105]. Future Plans and Strategic Focus - The company plans to adjust the implementation progress of the "Annual Production of 50,000 Tons of High Purity L-Lactic Acid Project" due to the pandemic and tight capacity of high-purity lactic acid, with the project expected to be completed by October 2021[77]. - The company aims to improve its operational efficiency and explore potential mergers and acquisitions to strengthen its market position[184]. - The company plans to apply for a comprehensive credit facility of up to RMB 1 billion to support its working capital and project loans[120].

证券代码：300829 证券简称：金丹科技 公告编号：2021-036 河南金丹乳酸科技股份有限公司 关于参加河南辖区上市公司 2021 年投资者网上集体接待日 活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，河南金丹乳酸科技股份有限公司定于 2021年6月8日（周二）16:00-17:20 参加在全景网举办的"真诚沟通 传递价值" 河南辖区上市公司2021年投资者网上集体接待日活动，本次活动将采用网络远程 的方式举行，投资者可登录"全景•路演天下"（ http://rs.p5w.net）参与本次互 动交流。 出席本次网上集体接待日活动的人员为：公司董事会秘书崔耀军先生（如有 特殊情况，参会人员将可能进行调整），欢迎广大投资者积极参与。 特此公告。 河南金丹乳酸科技股份有限公司 董事会 2021年6月2日 ...

Financial Performance - The company's operating revenue for Q1 2021 was CNY 319,492,683.60, representing a 56.88% increase compared to CNY 203,652,077.75 in the same period last year[8]. - The net profit attributable to shareholders decreased by 25.22% to CNY 27,906,648.99 from CNY 37,317,480.84 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was CNY 25,435,702.97, down 14.32% from CNY 29,688,232.50 in the previous year[8]. - Basic and diluted earnings per share were both CNY 0.25, down 43.18% from CNY 0.44 in the previous year[8]. - The company reported a total comprehensive income of CNY 27,074,734.84, down from CNY 36,824,559.80 in the previous year[47]. - Total comprehensive income for the first quarter was CNY 31,916,395.24, compared to CNY 38,870,272.50 in the previous period, indicating a decrease[51]. Cash Flow - The net cash flow from operating activities was CNY 26,185,385.55, a decline of 52.08% compared to CNY 54,638,715.90 in the same period last year[8]. - Cash inflow from operating activities totaled CNY 337,179,593.13, up from CNY 243,683,026.88 in the previous period, representing an increase of approximately 38.5%[54]. - Cash outflow for purchasing goods and services was CNY 261,811,905.24, compared to CNY 134,690,843.99 in the previous period, showing an increase of approximately 94.3%[54]. - Cash flow from investing activities resulted in a net outflow of CNY 34,725,192.87, slightly improved from a net outflow of CNY 36,106,247.31 in the previous period[54]. - Cash flow from financing activities showed a net outflow of CNY 2,119,367.64, an improvement from a net outflow of CNY 22,467,919.65 in the previous period[55]. - The ending balance of cash and cash equivalents was CNY 127,652,684.99, down from CNY 138,375,630.57 at the beginning of the period[55]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,775,918,607.97, an increase of 1.42% from CNY 1,751,131,954.37 at the end of the previous year[8]. - Total liabilities were CNY 412,463,438.05, a slight decrease from CNY 414,756,584.38, showing a reduction of approximately 0.6%[37]. - The company's equity attributable to shareholders increased to CNY 1,329,165,463.49 from CNY 1,301,347,038.61, reflecting a growth of about 2.1%[38]. - Current assets totaled CNY 555,210,068.73, slightly decreasing from CNY 558,211,562.97, indicating a decline of about 0.4%[35]. - Inventory increased significantly to CNY 165,884,641.08 from CNY 130,457,102.27, representing a growth of approximately 27.2%[35]. - Total equity increased to CNY 1,352,451,724.04 from CNY 1,320,535,328.80, indicating a growth of approximately 2.5%[45]. Operating Costs and Expenses - Operating costs rose to CNY 259.45 million, a 97.75% increase from CNY 131.20 million in the same period last year, primarily due to a significant rise in corn procurement prices[18]. - Research and development expenses increased by 69.65% to CNY 12.62 million, reflecting the company's increased investment in R&D[18]. - Operating costs amounted to CNY 293,851,986.51, compared to CNY 170,167,271.38 in the same period last year, reflecting a rise in costs[45]. - Research and development expenses rose to CNY 12,616,662.18, up from CNY 7,436,849.12, reflecting a 69.3% increase in investment in innovation[45]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,066[12]. - The largest shareholder, Zhang Peng, holds 32.69% of the shares, amounting to 36,906,000 shares, with 2,180,000 shares pledged[12]. Future Plans and Investments - The company plans to invest CNY 300 million in a project to produce 60,000 tons of biodegradable polyester and related products, enhancing its product line in biodegradable materials[23]. - The company plans to continue focusing on market expansion and product development to drive future growth[46]. Risks and Sensitivities - The company faces risks related to corn price fluctuations, which significantly impact production costs, as corn accounts for a large portion of the cost of lactic acid and its derivatives[20]. - Approximately 30% of the company's main business revenue comes from export sales, making it sensitive to fluctuations in the RMB/USD exchange rate[22].

Financial Performance - The company's operating revenue for 2020 was CNY 1,027,255,392.26, representing a 16.99% increase compared to CNY 878,107,136.71 in 2019[16] - The net profit attributable to shareholders for 2020 was CNY 119,629,812.60, a 3.84% increase from CNY 115,210,946.15 in 2019[16] - The net profit after deducting non-recurring gains and losses was CNY 105,681,353.25, which is a decrease of 4.52% compared to CNY 110,681,325.10 in 2019[16] - The net cash flow from operating activities was CNY 152,067,535.41, down 2.33% from CNY 155,692,960.05 in 2019[16] - The total assets at the end of 2020 were CNY 1,751,131,954.37, an increase of 44.37% from CNY 1,212,951,167.73 at the end of 2019[16] - The net assets attributable to shareholders at the end of 2020 were CNY 1,301,347,038.61, which is a 103.35% increase from CNY 639,959,035.77 at the end of 2019[16] - The basic earnings per share for 2020 were CNY 1.16, a decrease of 14.71% from CNY 1.36 in 2019[16] - The weighted average return on equity for 2020 was 11.28%, down from 19.78% in 2019, a decrease of 8.50%[16] - The total profit amounted to CNY 129.06 million, reflecting a year-on-year growth of 6.70%[54] - The company reported a net profit attributable to shareholders of 30% for the year 2020[134] Revenue and Sales - The company reported a total revenue of CNY 306,329,824.96 in Q4 2020, which was the highest quarterly revenue for the year[18] - Revenue from lactic acid amounted to ¥694,909,902.79, with a growth of 21.16% compared to the previous year[72] - Domestic revenue was ¥758,020,960.79, reflecting a 21.05% increase year-on-year, while international revenue was ¥269,234,431.47, up by 6.88%[72] - The gross profit margin for lactic acid was 22.76%, down by 7.91% from the previous year[72] - The company's top five customers contributed ¥70,012,700, accounting for 6.82% of total sales revenue[64] - The sales revenue from the top five customers totaled CNY 194,579,282.12, accounting for 18.94% of the annual total sales[79] Investment and Financing - The company raised a total of RMB 637.6 million through its initial public offering, with a net amount of RMB 541.7 million after deducting related issuance costs[100] - The company has a total of RMB 535.9 million in planned investments across various projects, with a cumulative actual investment of RMB 266.8 million[96] - The company confirmed the feasibility of starch sugar production technology for lactic acid[83] - The company plans to complete the "Annual Production of 50,000 Tons of High Purity L-Lactic Acid Project" by October 2021, with an investment of 30,906 million RMB[104] - The company will implement measures to enhance performance and stabilize stock prices through cost-cutting and limiting executive compensation[135] Research and Development - The company holds 35 invention patents and has established several national and provincial research centers to enhance its R&D capabilities[49] - The company’s focus on R&D aims to develop efficient, energy-saving, and environmentally friendly production technologies for lactic acid and its derivatives[25] - The company's research and development expenses increased by 24.37% to CNY 41,429,076.89 in 2020, up from CNY 33,311,708.63 in 2019[81] - The number of R&D personnel increased to 143 in 2020, accounting for 14.03% of the total workforce[83] - The company aims to increase its R&D investment in lactic acid and related products to strengthen its market competitiveness[136] Market Position and Strategy - The company is a leading enterprise in the research, production, and sales of lactic acid and its derivatives, with products sold in over 80 countries and regions globally[25] - The company is positioned to benefit from increasing demand for biodegradable plastics as regulations against plastic pollution are enforced[43] - The lactic acid market in China is expected to grow steadily, with food and beverage applications currently accounting for about 70.40% of consumption[41] - The company aims to become a leader in the global lactic acid industry, focusing on biotechnology and new materials as strategic growth areas[111] - The company plans to enhance inventory management, customer resource maintenance, market expansion, quality control, and new product development to improve its resilience against operational risks[136] Profit Distribution and Shareholder Returns - The company proposed a profit distribution plan for 2020, distributing a cash dividend of 2 CNY per 10 shares, totaling 22,581,818.40 CNY[127] - The cash dividend represents 18.88% of the net profit attributable to shareholders for 2020[131] - The company has a policy that cash dividends should constitute at least 20% of the profit distribution in the growth stage[126] - The company plans to distribute at least 10% of the annual distributable profit in cash dividends, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profit during that period[139] - The company will implement a stable dividend distribution policy post-IPO, ensuring reasonable returns to investors while considering sustainable development[138] Environmental and Social Responsibility - The company contributed over 8 million RMB to local poverty alleviation efforts over the past three years, including over 10 million RMB in 2020 for COVID-19 prevention and other public health initiatives[169] - The company is classified as a key pollutant discharge unit by environmental protection authorities[171] - The company implemented advanced anaerobic and aerobic biological treatment technologies for wastewater, ensuring compliance with discharge standards[173] - The company has committed to improving product quality and reducing production consumption as part of its social responsibility initiatives[169] Corporate Governance and Compliance - The company has engaged Da Hua Accounting Firm for auditing services, with a fee of 650,000 RMB, and has maintained this auditor for two consecutive years[145] - The company has not reported any significant changes in the scope of the consolidated financial statements compared to the previous year[144] - The company has not experienced any bankruptcy reorganization or significant litigation during the reporting period[147][148] - The company has not engaged in any major related party transactions during the reporting period[153][154][155][156][157] - The company has disclosed all related party transactions in accordance with legal and regulatory requirements[134]

Financial Performance - Operating revenue for the reporting period was CNY 248,085,113.29, an increase of 8.91% compared to the same period last year[7] - Net profit attributable to shareholders was CNY 37,791,469.81, up 2.44% year-on-year[7] - Net profit after deducting non-recurring gains and losses decreased by 23.26% to CNY 28,392,263.89[7] - Basic earnings per share decreased by 25.00% to CNY 0.33[7] - The weighted average return on equity was 2.99%, down 3.15% from the previous year[7] - Total operating revenue for the third quarter was CNY 248,085,113.29, an increase from CNY 227,797,894.11 in the previous period, representing a growth of approximately 8.4%[34] - Total operating costs amounted to CNY 216,184,435.49, up from CNY 192,451,120.02, indicating an increase of about 12.3%[35] - Net profit for the period reached CNY 37,597,309.27, compared to CNY 35,283,086.93 in the same period last year, reflecting a growth of approximately 6.5%[36] - The company reported a total comprehensive income of CNY 37,619,875.51, an increase from CNY 35,081,489.20 in the prior period, reflecting a growth of approximately 7.2%[37] - The company achieved a total comprehensive income of CNY 102,187,042.79, compared to CNY 92,264,274.56, representing an increase of 10.0%[45] Assets and Liabilities - Total assets increased by 39.13% to CNY 1,687,560,097.79 compared to the end of the previous year[7] - The company's total assets increased significantly, with construction in progress rising by 44.67% to ¥326,125,279.75 due to ongoing projects[15] - As of September 30, 2020, total current assets increased to ¥599,407,109.24 from ¥214,517,624.25 as of December 31, 2019, representing an increase of approximately 179.5%[26] - Total non-current assets reached ¥1,088,152,988.55, up from ¥998,433,543.48, which is an increase of about 9.0%[27] - The company's total liabilities decreased to CNY 351,765,737.84 from CNY 491,504,370.83, a reduction of about 28.5%[35] - The total assets of the company reached CNY 1,655,256,914.42, up from CNY 1,147,748,907.26, indicating an increase of about 44.3%[35] - The total amount of other receivables stands at CNY 34,487,632.60, which could indicate potential liquidity issues[62] Cash Flow - Net cash flow from operating activities increased by 87.28% to CNY 47,604,539.92[7] - The net cash flow from operating activities rose by 36.52% to ¥134,780,242.11, driven by increased sales revenue[16] - The net cash flow from operating activities was CNY 134,780,242.11, compared to CNY 98,729,116.61 in the previous year, reflecting a growth of 36.48%[51] - The company reported a net cash outflow from investing activities of CNY 448,065,097.87, which is a significant increase from CNY -126,836,544.97 in the same period last year[52] - The company's cash and cash equivalents at the end of the period were ¥40,521,002.80, an increase from ¥25,435,474.46 at the end of the previous period[55] Shareholder Information - Net assets attributable to shareholders rose by 100.78% to CNY 1,284,879,739.50 year-on-year[7] - The total number of ordinary shareholders at the end of the reporting period was 13,471[10] - The company's equity attributable to shareholders rose to ¥1,284,879,739.50 from ¥639,959,035.77, representing an increase of about 100.5%[29] Expenses - Management expenses rose by 41.05% to ¥59,302,168.95, mainly due to significant repair costs for equipment[16] - The company reported a 968.27% increase in non-operating expenses to ¥10,265,000.00, linked to substantial donations made during the pandemic[16] - Research and development expenses for the quarter were CNY 11,890,038.26, up from CNY 9,042,784.69, representing a growth of about 31.3%[35] - Financial expenses totaled CNY 10,461,675.35, compared to CNY 9,788,100.65, indicating an increase of 6.9%[44] - Tax expenses for the period were CNY 12,334,445.22, compared to CNY 8,400,713.75, an increase of 46.0%[44] Government Support and Investments - The company received government subsidies amounting to CNY 21,418,385.51, primarily from technology special subsidies and listing rewards[8] - The company reported a 437.78% increase in investment income to ¥1,795,513.18, attributed to cash management of idle funds and dividends from its stake in Zhongyuan Bank[16] - The company received CNY 600,000,000.00 from investment recoveries, indicating active management of its investment portfolio[52] - The company’s long-term investments included a cash payment of ¥950,000,000.00, compared to ¥11,600,000.00 in the previous period, indicating a strategic focus on growth[53] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] - The company has not disclosed any performance forecasts for the upcoming reporting period[18] - The report indicates that the third-quarter financials were not audited, which may affect the reliability of the data presented[64] - The company has not reported any new product developments or market expansion strategies in this quarter[64]