Group 1: Financial Performance - The company experienced a rise in raw material costs, particularly for nickel and micro powder, but managed to maintain profitability through efficiency improvements and cost reduction measures [6]. - The average selling price of products decreased compared to last year, yet the gross margin was sustained due to the company's cost-cutting and product structure improvement initiatives [7]. Group 2: Production Capacity and Development - The company has achieved a fine wire diameter of 33 μm and 35 μm for its high-carbon steel wire diamond wire, currently in small batch testing, with stable mass production at 36 μm and 38 μm [7]. - The yellow wire production line is nearly installed, with joint trial production planned, although the drawing equipment differs from carbon steel wire [7]. - The monthly production capacity for mother wire is approximately 2 million kilometers, with a self-supply rate around 20% [8]. Group 3: Strategic Goals - The establishment of the yellow wire production line aims to enhance product quality, control system costs, and ensure resource supply security [8]. - The company plans to make decisions on expanding mother wire production based on the successful output of high-quality products from the yellow wire production line [8]. Group 4: Market Supply and Demand - The supply of raw materials for mother wire is stable, with all sourced domestically from major suppliers capable of meeting market demands [8].

证券代码：300861 证券简称：美畅股份 杨凌美畅新材料股份有限公司 2022 年 9 月 21 日半年度业绩说明会 编号：2022009 | --- | --- | --- | |-----------------------|----------------------------------------------------------|-----------------------------------------------------------| | 投资者关系 \n活动类别 | 特定对象调研 \n 媒体采访 \n 新闻发布会 \n 现场参观 | 分析师会议 \n 业绩说明会 \n 路演活动 \n 其他 电话交流 | | | 安徽明泽投资管理有限公司 | 杨怀宇 | | | 安信证券股份有限公司 | 计哲飞、汪紫璇、汪紫璇、彭玮骏 | | | 宝盈基金管理有限公司 | 曹潜 | | | 北京遵道资产管理有限公司 | 祝飞、华一 | | | 创金合信管理有限公司 | 李游、李晗 | | | 淳厚基金管理有限公司 | 顾伟 | | | 大成基金管理有限公司 | 吕婧 | | | | 东北证券股 ...

证券代码：300861 证券简称：美畅股份 编号：2022008 | --- | --- | --- | --- | --- | --- | --- | |---------------|--------------------------------------|------------------------|-------|-------|-------|-------| | | □特定对象调研 | □分析师会议 | | | | | | 投资者关系 | □媒体采访 | 业绩说明会 | | | | | | 活动类别 | □新闻发布会 | 路演活动 | | | | | | | 现场参观 | 其他 电话交流 | | | | | | | cmc 资本 刘希瑞 | | | | | | | | HHLR Vivien Xu | | | | | | | | keywise 林晓文 | | | | | | | | RPower Capital 姜涵奕 | | | | | | | | 安联保险资产管理有限公司 | 王鹏宇 | | | | | | | 安信基金 张鹏 | | | | | | | | 安信证券股份有限公司 | ...

证券代码：300861 证券简称：美畅股份 杨凌美畅新材料股份有限公司 2022 年 10 月 31 日投资者关系活动记录表 编号：2022010 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------|--------------------------|---------------------------------|-----------|-------------|-------|--------------|-------|-------|-------| | | | | | | | | | | | | | | □特定对象调研 | | □分析师会议 | | | | | | | 投资者关系活 | □媒体采访 | | | 业绩说明会 | | | | | | | 动类别 | | □新闻发布会 | □路演活动 | | | | | | | | | □现场参观 | □√其他 | | | | （电话会议） | | | | | | Orchidasia | 刘天益 | | | | | | | | | | | 安信证 ...

杨凌美畅新材料股份有限公司 2022 年第三季度报告 证券代码：300861 证券简称：美畅股份 公告编号：2022-077 杨凌美畅新材料股份有限公司 2022 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： 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.第三季度报告是否经过审计 □是 否 1 杨凌美畅新材料股份有限公司 2022 年第三季度报告 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 | --- | --- | --- | --- | --- | |------------------------------------------------------|------------------|-------------------------|- ...

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 20%[22]. - The company's operating revenue for the reporting period reached ¥1,538,295,096, representing an increase of 86.09% compared to the same period last year[30]. - The net profit attributable to shareholders was ¥666,231,250, up 81.19% year-on-year, with a basic earnings per share of ¥1.67, an increase of 81.52%[30]. - The gross profit margin for the first half of 2022 was reported at 35%, a slight increase from 32% in the same period last year[22]. - The company's revenue for the reporting period reached ¥1,538,295,096.00, representing an 86.09% increase compared to ¥826,633,220.84 in the same period last year[69]. - Operating costs increased by 92.32% to ¥682,136,453.43 from ¥354,694,635.74, primarily due to higher sales volume[69]. - The net cash flow from operating activities was ¥624,430,353, representing a year-on-year increase of 97.85%[30]. - The net cash flow from operating activities was ¥310,102,035.87, an increase of 86.31% from ¥166,447,312.00, driven by higher revenue[69]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[22]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's production capacity by 40%[22]. - The company expects a revenue growth of 25% for the second half of 2022, driven by new product launches and market expansion strategies[162]. - The company is focused on expanding its market presence through new product development and technological advancements in the non-metallic mineral products industry[82]. Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at improving product quality and reducing costs[22]. - The company is actively researching the application of diamond wire in cutting hard and brittle materials such as silicon carbide semiconductors, aiming to create new growth points for its business performance[40]. - Research and development efforts have led to the introduction of two new materials, which are expected to contribute an additional 300 million yuan in revenue[163]. - The company has invested significantly in R&D, holding a total of 95 authorized patents, which effectively protects its core technologies and enhances its technological innovation capabilities[63]. Production and Efficiency - New product development includes the launch of a high-efficiency diamond wire saw, expected to increase production efficiency by 30%[22]. - The company has successfully implemented a production line upgrade, significantly improving production efficiency and enabling rapid capacity expansion[39]. - The company has adopted an "order-driven, moderate stocking" production model, allowing for flexible adjustments to production capacity and quicker adaptation to market changes[55]. - The company plans to reserve 10% of its production capacity as a safety margin to ensure rapid response to market demand and enhance customer supply security[65]. - The company's annualized production capacity of diamond wire reached 10 million kilometers by the end of June 2022, with a production volume of 46.3841 million kilometers and sales volume of 39.967 million kilometers, both leading in the industry[65]. Financial Management and Investment - The company has a remaining balance of CNY 967.58 million in its fundraising account as of June 30, 2022[90]. - The company has not changed the purpose of the raised funds, maintaining a 0% change in usage ratio[90]. - The total investment amount for committed projects is CNY 164,753.42 million, with an actual investment of CNY 74,983.87 million, representing a progress rate of 45.5%[96]. - The company has not reported any litigation issues during the reporting period[82]. Environmental and Social Responsibility - The company has implemented a waste gas treatment system with 42 general waste gas discharge outlets, meeting the emission standards for nickel and particulate matter[133]. - The industrial wastewater discharge meets the standards with COD levels at 0.000265 tons and ammonia nitrogen at 0.000007 tons, both not exceeding the limits[133]. - The company has established environmental management regulations and waste management systems to ensure compliance with emission standards for waste gas, wastewater, noise, and solid waste[140]. - The company actively engages in social responsibility, balancing economic benefits with social and environmental considerations[144]. Governance and Shareholder Relations - The company has committed to protecting shareholder rights and has ensured transparency in its governance practices[149]. - The company has established a robust communication strategy with shareholders to discuss dividend proposals and gather feedback[169]. - The company will consider mid-term dividends based on profit scale, cash flow, development stage, and current funding needs[179]. - The company has committed to reducing and regulating related party transactions to ensure the interests of all shareholders are not harmed[191].

Main Financial Data [Key Accounting Data and Financial Indicators](index=1&type=section&id=(I)%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company achieved strong performance growth in Q1 2022, with operating revenue increasing by **83.62%** and net profit attributable to shareholders by **49.18%**, while total assets and owner's equity steadily increased and operating cash flow grew by **130.33%** | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 665,954,428.56 | 362,683,330.08 | 83.62% | | Net Profit Attributable to Shareholders (RMB) | 284,638,562.58 | 190,808,378.51 | 49.18% | | Net Profit Attributable to Shareholders (Excl. Non-recurring Items) (RMB) | 268,246,060.05 | 148,499,228.27 | 80.64% | | Net Cash Flow from Operating Activities (RMB) | 279,141,640.65 | 121,190,172.35 | 130.33% | | Basic Earnings Per Share (RMB/share) | 0.71 | 0.48 | 47.92% | | Weighted Average Return on Net Assets | 6.84% | 5.38% | 1.46% | | | **End of Current Period** | **End of Prior Year** | **Period-end vs. Period-start Change** | | Total Assets (RMB) | 4,837,351,611.20 | 4,459,859,879.28 | 8.46% | | Owner's Equity Attributable to Shareholders (RMB) | 4,301,926,534.20 | 4,017,287,971.62 | 7.09% | [Non-recurring Gains and Losses and Amounts](index=2&type=section&id=(II)%20Non-recurring%20Gains%20and%20Losses%20and%20Amounts) In the current period, total non-recurring gains and losses amounted to **RMB 16,392,502.53**, primarily from fair value changes in financial assets held for trading and government grants | Item | Amount for Current Period (RMB) | | :--- | :--- | | Fair Value Changes in Financial Assets and Liabilities Held for Trading | 15,708,503.35 | | Government Grants Recognized in Current Profit/Loss | 6,410,714.30 | | Net Non-operating Income and Expenses | -1,087,999.87 | | Gains/Losses on Disposal of Non-current Assets | -5,343.56 | | Less: Income Tax Impact | 4,633,371.69 | | **Total** | **16,392,502.53** | [Analysis of Changes in Key Financial Indicators](index=2&type=section&id=(III)%20Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Performance growth was primarily driven by increased demand for diamond wire due to global photovoltaic installed capacity growth, with the company achieving significant sales and revenue increases through capacity expansion and cost control, reaching **16.94 million kilometers** in electroplated diamond wire sales in Q1 2022 - The core driver of performance growth was the strong increase in global photovoltaic installed capacity, leading to higher demand for diamond wire used in silicon wafer cutting[6](index=6&type=chunk) - The company implemented multi-dimensional measures such as capacity expansion, production line efficiency improvement, and enhanced cost control to meet market demand, laying the foundation for future technology R&D and talent acquisition[6](index=6&type=chunk) Key Business Indicators | Key Business Indicators | 2022 Q1 | | :--- | :--- | | Electroplated Diamond Wire Sales Volume | 16.94 million kilometers | | Operating Revenue | 666 million RMB | | Net Profit Attributable to Parent Company | 285 million RMB | Shareholder Information [Common Shareholder Holdings](index=2&type=section&id=(I)%20Total%20Number%20of%20Common%20Shareholders,%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights,%20and%20Top%20Ten%20Shareholders%27%20Holdings) As of the end of the reporting period, the company had **10,822** common shareholders, with the top two shareholders, Wu Ying and Zhang Yingjiu, holding **49.60%** and **14.07%** respectively, indicating a relatively concentrated equity structure - As of the end of the reporting period, the company had a total of **10,822** common shareholders[7](index=7&type=chunk) Top Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Wu Ying | 49.60% | 198,393,294 | | Zhang Yingjiu | 14.07% | 56,263,545 | | Jia Haibo | 7.80% | 31,187,684 | Quarterly Financial Statements [Consolidated Balance Sheet](index=4&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of Q1 2022, total assets reached **RMB 4,837,351,611.20**, an **8.46%** increase from year-start, with a high proportion of current assets primarily from financial assets held for trading, and total liabilities of **RMB 532,649,660.64** indicating a robust financial structure Key Balance Sheet Items | Key Balance Sheet Items (RMB) | Period-end Balance (2022-03-31) | Year-start Balance (2021-12-31) | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | 558,622,727.95 | 176,954,444.75 | | Financial Assets Held for Trading | 2,112,637,495.22 | 2,232,361,373.08 | | Accounts Receivable | 363,027,057.39 | 287,582,937.05 | | Inventories | 371,399,066.13 | 338,321,337.81 | | Fixed Assets | 605,438,201.06 | 625,312,393.89 | | **Total Assets** | **4,837,351,611.20** | **4,459,859,879.28** | | **Liabilities** | | | | Accounts Payable | 212,249,700.19 | 157,747,001.53 | | **Total Liabilities** | **532,649,660.64** | **442,571,907.66** | | **Owner's Equity** | | | | Total Owner's Equity Attributable to Parent Company | 4,301,926,534.20 | 4,017,287,971.62 | | **Total Liabilities and Owner's Equity** | **4,837,351,611.20** | **4,459,859,879.28** | [Consolidated Income Statement](index=7&type=section&id=2.%20Consolidated%20Income%20Statement) In Q1 2022, operating revenue reached **RMB 665,954,428.56**, an **83.62%** year-over-year increase, with total operating costs of **RMB 348,257,475.84**, up **80.94%**, resulting in net profit attributable to the parent company of **RMB 284,638,562.58**, a **49.18%** increase, and basic earnings per share of **RMB 0.71** Key Income Statement Items | Key Income Statement Items (RMB) | Amount for Current Period (2022 Q1) | Amount for Prior Period (2021 Q1) | | :--- | :--- | :--- | | Total Operating Revenue | 665,954,428.56 | 362,683,330.08 | | Total Operating Costs | 348,257,475.84 | 192,479,640.06 | | Including: Operating Costs | 304,870,278.12 | 153,950,826.17 | | R&D Expenses | 7,529,154.46 | 17,017,031.27 | | Operating Profit | 335,857,377.51 | 213,436,135.79 | | Total Profit | 334,764,098.49 | 223,434,911.38 | | Net Profit | 284,613,978.94 | 190,808,378.51 | | Net Profit Attributable to Parent Company Owners | 284,638,562.58 | 190,808,378.51 | | Basic Earnings Per Share | 0.71 | 0.48 | [Consolidated Cash Flow Statement](index=9&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement) In Q1 2022, net cash flow from operating activities was **RMB 279,141,640.65**, a **130.33%** year-over-year increase driven by increased cash from sales, while net cash flow from investing activities significantly improved to **RMB 122,229,727.98** from a prior year negative, with period-end cash and cash equivalents at **RMB 553,389,470.68** Key Cash Flow Items | Key Cash Flow Items (RMB) | Amount for Current Period (2022 Q1) | Amount for Prior Period (2021 Q1) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 279,141,640.65 | 121,190,172.35 | | Net Cash Flow from Investing Activities | 122,229,727.98 | -1,396,405,076.83 | | Net Cash Flow from Financing Activities | -4,483,827.38 | 0.00 | | Net Increase in Cash and Cash Equivalents | 396,613,320.38 | -1,274,894,870.65 | | Cash and Cash Equivalents at Period-end | 553,389,470.68 | 220,369,283.53 | Audit Report [Audit Opinion](index=11&type=section&id=Audit%20Opinion) The company's Q1 2022 report is unaudited - The company's first-quarter report is unaudited[38](index=38&type=chunk)

Financial Performance - The company's operating revenue for 2021 was ¥1,847,652,275.42, representing a 53.29% increase compared to ¥1,205,320,762.44 in 2020[27]. - The net profit attributable to shareholders for 2021 was ¥763,176,262.84, a 69.72% increase from ¥449,669,089.29 in 2020[27]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥683,000,336.88, up 66.39% from ¥410,489,425.38 in 2020[27]. - The net cash flow from operating activities for 2021 was ¥342,895,357.22, a 34.00% increase compared to ¥255,888,493.31 in 2020[27]. - The total assets at the end of 2021 were ¥4,459,859,879.28, reflecting a 20.91% increase from ¥3,688,620,303.58 at the end of 2020[27]. - The net assets attributable to shareholders at the end of 2021 were ¥4,017,287,971.62, a 16.30% increase from ¥3,454,116,708.78 at the end of 2020[27]. - The basic earnings per share for 2021 was ¥1.91, a 59.17% increase from ¥1.20 in 2020[27]. - The diluted earnings per share for 2021 was also ¥1.91, reflecting the same growth of 59.17% from ¥1.20 in 2020[27]. - The company reported a government subsidy of ¥51,081,238.82 in 2021, compared to ¥25,522,516.37 in 2020[35]. - The company experienced a net loss from the disposal of non-current assets amounting to -¥6,536,628.73 in 2021, an improvement from -¥7,745,972.93 in 2020[35]. Production and Sales - The company has an annual production capacity of 70 million kilometers of diamond wire, with total sales of 45.41 million kilometers in 2021, leading the industry in capacity layout and market share[42]. - In 2021, the company achieved a diamond wire sales volume of 45.41 million kilometers, an increase of 82.80% compared to 24.84 million kilometers in 2020[69]. - The company's operating revenue for 2021 was 1.85 billion yuan, representing a year-on-year growth of 53.29% from 1.21 billion yuan in 2020[70]. - The average sales price of diamond wire in 2021 was 40.17 yuan per kilometer, a decrease of 15.68% compared to the previous period[69]. - The sales revenue of electroplated diamond wire reached ¥1,823,942,496.52, accounting for 98.72% of total sales[73]. - The sales volume of electroplated diamond wire was 45,408.2 million kilometers, an increase of 82.80% year-on-year[75]. - The production volume of electroplated diamond wire was 52,748.5 million kilometers, reflecting a growth of 100.41% compared to 2020[78]. Research and Development - The company has a strong R&D capability, continuously innovating to meet the demand for thinner diamond wires, reducing the line diameter from 45μm to 38μm[61]. - Research and development (R&D) investment amounted to ¥86,692,670.62 in 2021, representing 4.69% of operating revenue, a decrease from 7.41% in 2020[91]. - The number of R&D personnel decreased by 68.32% from 303 in 2020 to 96 in 2021, with the proportion of R&D personnel dropping from 14.55% to 3.92%[91]. - The R&D projects include 17 sub-projects aimed at improving product performance and reducing production consumption[88]. - The company is focusing on developing new specifications and materials for the core raw material, which is crucial for maintaining competitive advantages in the market[88]. - The company has made significant adjustments to its R&D personnel structure to enhance efficiency and align with production needs[91]. Market Position and Strategy - The company maintains strong partnerships with major clients in the photovoltaic sector, including Longi Green Energy, JinkoSolar, and JA Solar, while also expanding its customer base to new clients like Highview Solar and Beijing Jingyun Technology[42]. - The diamond wire market is expected to grow significantly due to the increasing demand from the photovoltaic industry, with domestic new installed capacity reaching 54.88 GW in 2021 and projected to continue rising over the next five years[42]. - The company aims to maintain a market share increase by enhancing customer satisfaction through improved production processes and technical exchanges[65]. - The company plans to further expand its production capacity based on market demand, ensuring reliable supply and quick response to customer orders[68]. - The marketing strategy emphasizes service, value, efficiency, and quality, with plans to diversify customer groups and expand international business[152]. Governance and Management - The company maintained a governance structure that complies with the Company Law and relevant regulations, ensuring the protection of shareholder rights[171]. - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, and business operations[172]. - The company has established an independent financial department and accounting system, ensuring compliance with tax regulations[172]. - The company has a complete independent business operation capability, separate from its controlling shareholders[172]. - The company’s board of directors and management team have been stable, with no significant changes reported during the period[181]. - The company has a strong focus on research and development, with key personnel holding advanced degrees and experience in materials science and technology[190]. - The company is committed to maintaining high standards of governance and transparency in its operations[191]. Investment and Financial Management - The total amount of raised funds is CNY 1,750,837,600.00, with a net amount of CNY 1,647,534,161.91 after deducting issuance costs[125]. - As of December 31, 2021, the balance of raised funds is CNY 1,047,695,876.90, with CNY 651,500,505.13 invested in projects[125]. - The company completed a significant equity investment of CNY 462,000,000.00 in Meichang Technology Co., holding a 100% stake[107]. - The company has utilized its own funds for the investments in the new production lines, demonstrating financial independence[119]. - The company reported a net cash outflow from investment activities of ¥1,471,063,557.25, a significant increase of 96.56% year-on-year[95]. Challenges and Risks - The company faces risks from intense competition in the diamond wire manufacturing industry, with many new entrants increasing production capacity[157]. - The company acknowledges potential risks related to product quality control, which could impact market share and brand reputation[158]. - The company recognizes the challenges posed by high silicon prices and ecological restrictions affecting the photovoltaic industry's growth[157]. - The report indicates that the company has not achieved the planned progress and expected returns for its projects, primarily due to construction delays[119].

Financial Performance - The company's revenue for Q3 2021 reached ¥444,620,290.27, representing a 54.84% increase year-over-year[3] - Net profit attributable to shareholders for Q3 2021 was ¥183,529,159.71, up 75.43% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥175,292,201.80, reflecting a 74.96% increase year-over-year[3] - The net profit attributable to shareholders for the first nine months of 2021 was ¥551,236,275.34, which is a 69.73% increase compared to the same period last year[8] - Total operating revenue for the period reached ¥1,271,253,511.11, compared to ¥871,325,226.62 in the previous period, representing a significant increase[37] - Net profit for the period was ¥551,236,275.34, compared to ¥327,588,262.26 in the previous period, indicating strong growth[40] - The company's equity attributable to shareholders increased to ¥3,805,347,984.12 from ¥3,454,116,708.78 in the previous period[35] - The basic and diluted earnings per share increased to ¥1.3781 from ¥0.8911, reflecting a growth of 54.6%[43] - The company reported a total comprehensive income of approximately ¥551.24 million, compared to ¥327.59 million in the previous period, indicating an increase of 68.2%[43] Assets and Liabilities - The total assets as of the end of Q3 2021 amounted to ¥4,224,530,261.11, a 14.53% increase from the end of the previous year[3] - Non-current assets totaled ¥819,740,958.63, an increase from ¥625,298,077.39 in the previous period[35] - Total liabilities amounted to ¥419,182,276.99, up from ¥234,503,594.80 in the previous period[35] - The company's cash and cash equivalents decreased by 85.92% to ¥210,593,281.24, primarily due to cash management strategies[12] - Total current assets as of September 30, 2021, amounted to ¥3,404,789,302.48, an increase from ¥3,063,322,226.19 as of December 31, 2020[28] - The trading financial assets increased to ¥2,047,344,466.69 from ¥751,578,472.21 year-over-year[28] Operational Highlights - The company sold 30.8568 million kilometers of diamond wire for electroplating in the first nine months of 2021, generating revenue of ¥1,271,253,511.11, a 45.90% increase year-over-year[8] - The company has expanded its production capacity for silicon cutting diamond wire to over 70 million kilometers annually as of September 2021[8] - The company plans to enhance its product development focusing on thinner wire diameters and improved cutting quality to meet market demands[8] - The company plans to continue expanding its market presence and investing in new product development to sustain growth[19] Cash Flow and Expenses - The company reported a net cash flow from operating activities of ¥217,976,606.47 for the first nine months of 2021, an increase of 33.22% year-over-year[3] - Cash flow from operating activities generated a net amount of approximately ¥217.98 million, up from ¥163.62 million, indicating a year-over-year increase of 33.2%[47] - Total cash inflow from investment activities was approximately ¥6.68 billion, with cash outflow for investment activities totaling approximately ¥7.97 billion, resulting in a net cash outflow of approximately ¥1.30 billion[50] - The cash flow from financing activities showed a net outflow of approximately ¥203.55 million, compared to an inflow of ¥1.65 billion in the previous period[50] - The company received cash from sales of goods and services totaling approximately ¥681.22 million, compared to ¥609.75 million in the previous period, marking an increase of 11.7%[47] - Cash paid to employees increased to approximately ¥188.86 million from ¥137.52 million, reflecting a rise of 37.3%[47] Shareholder Information - The company had a total of 362,434,220 shares with 164,040,926 shares released from restrictions during the reporting period[27] - The top ten unrestricted shareholders held a total of 198,393,294 shares, with significant holdings from Zhang Yingjiu and Jia Haibo at 61,103,551 and 34,744,984 shares respectively[24] - The company reported a total of 198,393,294 restricted shares as of August 24, 2021, with various shareholders having their shares released on that date[24] - The company is actively managing its shareholder structure, with several private equity funds involved in its capital[23] Inventory and Receivables - The company’s inventory increased by 53.60% to ¥334,848,093.79, driven by the need for higher safety stock levels[12] - The accounts receivable financing rose by 64.08% to ¥537,257,541.36, reflecting growth in the company's main business sales[12] - Accounts receivable stood at ¥247,885,856.18, slightly up from ¥244,298,013.38 in the previous year[28] - Inventory levels rose to ¥334,848,093.79 compared to ¥217,997,876.62 in the previous year[28] Research and Development - Research and development expenses for the period were ¥62,020,318.64, down from ¥70,349,985.66 in the previous period[40] Other Financial Metrics - The company reported a significant increase in other income, totaling ¥33,178,097.60, which is a 682.03% increase attributed to government subsidies[16] - The financial expenses decreased by 77.34%, resulting in a net financial income of -¥1,897,547.61, influenced by changes in deposit balances and foreign exchange rates[16] - The company's deferred income tax liabilities increased to ¥79,440,059.25 from ¥50,583,825.66 in the previous period[35] Audit Status - The third-quarter report was not audited, indicating that the figures presented are preliminary[60]

Financial Performance - The company's operating revenue for the reporting period was ¥826,633,220.84, representing a 41.50% increase compared to ¥584,175,632.97 in the same period last year[29]. - The net profit attributable to shareholders was ¥367,707,115.63, a 67.50% increase from ¥219,530,968.23 year-on-year[29]. - The net profit after deducting non-recurring gains and losses was ¥315,605,702.61, up 44.89% from ¥217,821,816.33 in the previous year[29]. - The net cash flow from operating activities was ¥166,447,312.00, reflecting a 69.74% increase compared to ¥98,060,895.69 in the same period last year[29]. - The total assets at the end of the reporting period were ¥4,007,806,927.89, an 8.65% increase from ¥3,688,620,303.58 at the end of the previous year[29]. - The net assets attributable to shareholders were ¥3,621,818,824.41, a 4.86% increase from ¥3,454,116,708.78 at the end of the previous year[29]. - The company's revenue for the reporting period reached ¥826,633,220.84, a 41.50% increase compared to ¥584,175,632.97 in the same period last year, primarily due to a significant increase in sales volume[69]. Investment and R&D - The company plans to increase R&D investment in other diamond tool areas to diversify its product offerings and create new growth points[39]. - Research and development expenses amounted to ¥39,909,895.52, reflecting a 58.91% increase from ¥25,115,388.17, indicating the company's commitment to enhancing R&D efforts[69]. - The company has a strong emphasis on R&D, with all major production processes and equipment being independently developed, ensuring high technical autonomy[61]. - The company is actively researching the application of diamond wire in cutting hard and brittle materials such as sapphire and precision ceramics[39]. - Ongoing research and development efforts are focused on innovative materials, with a commitment to invest 5 million in new technology initiatives[179]. Market Position and Strategy - The company continues to focus on technological innovation and quality improvement in the diamond wire industry, maintaining a leading market share in the photovoltaic sector[39]. - The company is positioned as a leading supplier of diamond wire for major photovoltaic companies, including Longi and Jinko[56]. - The company anticipates significant growth in global photovoltaic installations during the "14th Five-Year Plan" period, driven by carbon neutrality goals and green recovery initiatives[60]. - The company is expanding its marketing team and adjusting its marketing mechanisms to strengthen its competitive advantage in the diamond wire market[118]. - The company plans to enhance its market presence through strategic partnerships and potential acquisitions in the next 12 months[182]. Environmental Management - The company has implemented strict environmental management systems and regulations to ensure compliance with national laws and standards[151]. - The company has established a comprehensive environmental monitoring plan, regularly engaging qualified third-party firms for assessments[152]. - The company has invested in various environmental protection facilities, including wastewater treatment and hazardous waste storage systems, which are operating normally[151]. - The company has committed to maintaining its environmental protection measures and has developed emergency response plans for environmental incidents[151]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[153]. Corporate Governance and Shareholder Engagement - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The company has not reported any changes in its registration status during the reporting period[28]. - The company has not engaged in any significant non-equity investments during the reporting period[92]. - The company has not used idle raised funds to temporarily supplement working capital[101]. - The management has assured compliance with the established profit distribution plan, emphasizing a focus on long-term shareholder value[179]. Subsidiaries and Structure - The company has a total of 5 wholly-owned subsidiaries, including Yangling Meichang Technology Co., Ltd. and Shaanxi Baomeisheng Precision Steel Wire Co., Ltd.[15]. - The company has established a new subsidiary, Meichang Technology Co., Ltd., aimed at enhancing core competitiveness and sustainable development, although it is not expected to have a major short-term profit impact[114]. - The registered capital of Yangling Meichang Technology Co., Ltd. is CNY 100 million, with total assets of approximately CNY 1.74 billion[110]. Challenges and Risks - The company is facing challenges in the photovoltaic industry due to supply-demand tensions and regulatory uncertainties, which may affect the growth of diamond wire market demand[117]. - The company acknowledges the risk of increased competition in the diamond wire manufacturing industry, which has attracted numerous new entrants due to high profit margins[117]. Financial Management - The total amount of raised funds is CNY 1,647,534,161.91 after deducting related issuance costs[93]. - The company has not reported any significant changes in the measurement attributes of its main assets during the reporting period[81]. - The company’s financial liabilities remained at 0.00 CNY, indicating no outstanding debts[81]. - The total amount of entrusted financial management during the reporting period is CNY 593,000 million, with no overdue amounts[103].