股票代码：300881 股票简称：盛德鑫泰 公告编号：2023-014 关于举行 2022 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 盛德鑫泰新材料股份有限公司（以下简称"公司"）《 2022 年年度报告》已 于 2023 年 4 月 18 日在中国证监会指定的创业板信息披露网站上披露。公司将于 2023 年 4 月 26 日（星期三）15：00 至 17：00 在全景网举行 2022 年度网上业 绩说明会。本次年度业绩说明会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）参与本次年度业绩说明会。 出席本次年度业绩说明会的人员有：公司董事长周文庆先生，董事、总经理 缪一新先生，财务总监黄丽琴女士，董事会秘书周阳益先生，独立董事陈来鹏先 生，保荐代表人李鹏先生。 盛德鑫泰新材料股份有限公司 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2023 年 4 月 26 日（星期三）14:00 前访问 ...

证券代码：300881 证券简称：盛德鑫泰 盛德鑫泰新材料股份有限公司投资者关系活动记录表 编号： 20211117 | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------|------------------------------------------------------------|-------------------|----------------------------------------------------------------|-------|-------|-------|-------| | 投资者关系活动 | √特定对象调研 □分析师会议 □现场参观 | | | | | | | | 类别 | | | □媒体采访 □业绩说明会 □新闻发布会 | | | | | | 参与单位名称及 | □路演活动 □其他 金世富盈（北京）投资有限公司 贾纯冶 | | | | | | | | 人员姓名 | Hello china | 集团 孙奎、叶劲毅 | | | | | | | 时间 | 2021 ...

证券代码：300881 证券简称：盛德鑫泰 编号： 20221115 | --- | --- | --- | --- | --- | --- | --- | |------------------------------|---------------------|------------|-------------------------------------------------------------------------|------------------------------------------------------------|--------------|--------| | 投 资 者 关 系 活动类别 \n | □路演活动 □其他 | | √特定对象调研 □分析师会议 □现场参观 \n□媒体采访 □业绩说明会 □新闻发布会 | | | | | | 中融基金 孙志东 | | | | | | | 参 与 单 位 名 | 申万菱信 常洪雨 | | | | | | | 称 及 人 员 姓 | 健顺投资 汪湛帆 | | | | | | | | 歌斐资产 汪庆祥 | | | | | | ...

证券代码：300881 证券简称：盛德鑫泰 盛德鑫泰新材料股份有限公司投资者关系活动记录表 编号： 20221021 | --- | --- | --- | --- | --- | --- | |------------------------------|-----------------|-------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------|-------|-------| | 投 资 者 关 系 活动类别 \n | □路演活动 □其他 | √特定对象调研 □分析师会议 □现场参观 \n□媒体采访 □业绩说明会 □新闻发布会 | | | | | | 鹏华基金 孙嘉晨 | | | | | | 参 与 单 位 名 | 中信建投证券 | 宿晓杰 | | | | | 称 及 人 员 姓 | 南方基金 罗 ...

Financial Performance - The company's revenue for Q3 2022 was CNY 312,898,642.33, a decrease of 2.14% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was CNY 18,464,276.16, an increase of 66.97% year-on-year[5] - The basic earnings per share for Q3 2022 was CNY 0.18, reflecting a growth of 63.64% compared to the previous year[5] - Total operating revenue for the period reached ¥887,232,060.10, an increase of 8.6% compared to ¥816,679,490.94 in the previous period[17] - Net profit for the period was ¥47,115,910.57, representing a 46.4% increase from ¥32,197,809.24 in the previous period[19] - The total comprehensive income for the period was CNY 47,115,910.57, compared to CNY 32,197,809.24 in the previous period, representing an increase of approximately 46.4%[20] - Basic and diluted earnings per share increased to CNY 0.47 from CNY 0.32, reflecting a growth of 46.9%[20] Assets and Liabilities - Total assets as of September 30, 2022, amounted to CNY 1,557,337,509.24, representing a 3.58% increase from the end of the previous year[5] - Current assets totaled ¥1,280,276,179.30, slightly up from ¥1,274,084,577.58 at the beginning of the year[15] - Total liabilities increased to ¥744,628,086.58 from ¥727,347,617.22, reflecting a growth of 2.9%[16] - The company's total assets reached ¥1,557,337,509.24, up from ¥1,503,441,128.71, indicating a growth of 3.6%[16] Cash Flow - The company's cash flow from operating activities showed a significant decline, with a net outflow of CNY 303,521,219.23, a decrease of 652.03% year-to-date[5] - The net cash flow from operating activities for the third quarter of 2022 was -303,521,219.23 RMB, a decrease of 652.03% compared to 54,983,093.86 RMB in the same period last year[9] - Cash inflow from operating activities totaled CNY 586,108,531.13, up from CNY 513,686,520.78, indicating an increase of about 14.1%[22] - Cash outflow from operating activities was CNY 889,629,750.36, compared to CNY 458,703,426.92 in the previous period, resulting in a net cash flow from operating activities of CNY -303,521,219.23[23] - The net cash flow from financing activities increased to 303,496,260.04 RMB, a significant increase of 763.19% from -45,762,877.73 RMB year-over-year[9] - Cash inflow from financing activities was CNY 397,314,545.15, compared to CNY 74,913,444.44 in the previous period, marking a substantial increase[23] - The net cash flow from financing activities was CNY 303,496,260.04, a turnaround from CNY -45,762,877.73 in the previous period[23] Inventory and Expenses - The company's inventory increased by 33.61% to CNY 281,184,945.24 due to a rise in raw material stock[8] - Total operating costs amounted to ¥830,913,427.91, up from ¥780,633,230.00, reflecting a rise of 6.4%[17] - Research and development expenses rose to ¥34,818,312.79, compared to ¥30,968,011.21, an increase of 12.0%[17] - The company's cash and cash equivalents decreased to ¥241,697,681.84 from ¥361,886,551.30, a decline of 33.2%[15] - Other income decreased by 68.79% to CNY 1,223,495.17, attributed to a reduction in government grants[8] - The company reported a significant increase in charitable donations, with other expenses rising by 577.89% to CNY 1,762,508.42[8] - The company reported a decrease in financial expenses to ¥5,756,675.99 from ¥6,386,571.96, a reduction of 9.8%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period was 8,598, with no preferred shareholders having restored voting rights[9] - Major shareholder Zhou Wenqing holds 43.50% of the shares, while another significant shareholder, Zong Huanqin, holds 20.25%[10] - The company has a total of 7 major shareholders with significant holdings, including a 7.85% stake held by Changzhou Lianhong Enterprise Management Center[10] - The company has a total of 1,500,000 restricted shares that were released from lock-up on September 1, 2022, as part of the initial public offering commitments[12] Investment Activities - The company holds stakes in several investment projects, including 0.3476% in Jiangsu Quanxin Biopharmaceutical Co., Ltd. and 5.1647% in Shenzhen Hertz Life Science Technology Co., Ltd.[13] - The company reported a significant increase in financing activities due to the non-fulfillment of conditions for terminating the recognition of receivable notes discounted[9] Other Information - The report was not audited, as stated in the third-quarter report[24] - The company has not disclosed any new product developments or market expansion strategies in the current report[11] - There are no preferred shareholders reported in the current financial statement[11]

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 574,333,417.77, representing a 15.57% increase compared to RMB 496,940,968.16 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was RMB 28,651,634.41, a 35.54% increase from RMB 21,139,486.20 year-on-year[25]. - The net profit after deducting non-recurring gains and losses was RMB 28,557,424.34, which is a 57.11% increase compared to RMB 18,176,291.39 in the previous year[25]. - The basic earnings per share increased by 38.10% to RMB 0.29 from RMB 0.21 in the same period last year[25]. - The total assets at the end of the reporting period were RMB 1,546,603,058.24, up 2.87% from RMB 1,503,441,128.71 at the end of the previous year[25]. - The company reported a significant decrease in net cash flow from operating activities, which was RMB -251,750,929.69, compared to RMB 54,983,093.86 in the same period last year, a decline of 557.87%[25]. - The weighted average return on net assets increased to 3.63% from 2.85% year-on-year[25]. - The company's operating costs increased by 12.31%, amounting to approximately ¥493.50 million, up from ¥439.40 million in the same period last year[49]. - The company reported a total inventory of ¥266,012,780, which increased by 3.20% compared to the previous year[56]. - Cash and cash equivalents decreased to ¥172,560,295, down 12.91% from the previous year[56]. Business Operations - The company primarily engages in the production, research and sales of seamless steel pipes for industrial energy equipment, with applications in power station boiler manufacturing and petroleum refining[33]. - The main products include carbon steel pipes, alloy steel pipes, and stainless steel pipes, with outer diameters ranging from 16mm to 159mm and wall thicknesses from 2mm to 16mm[33]. - The company adopts a "sales-driven production" model, where production plans are based on confirmed orders from the sales department[36]. - The procurement of raw materials is based on market price fluctuations, ensuring sufficient inventory to meet production needs while controlling costs[38]. - The company has a high customer concentration, primarily serving large domestic power station boiler manufacturers and petroleum refining enterprises, which implement strict supplier qualification systems[39]. - The competitive landscape in the seamless steel pipe industry shows intense competition in the low-end market, while the mid-to-high-end market is more orderly[40]. - The company’s seamless steel pipes are critical components in power station boilers and petroleum refining systems, emphasizing the importance of supplier quality and reliability[39]. - The company’s subsidiary, Shengde Steel Grating, produces welded steel grating and related products, serving similar industries and customers[34]. - The company utilizes outsourcing for certain production processes when internal capacity is insufficient, ensuring quality control through regular inspections[40]. Research and Development - The company has established a research and development partnership with Xi'an Thermal Power Institute to develop new nickel-iron-based HT700 high-temperature alloys for advanced ultra-supercritical units[47]. - The company has been recognized as a high-tech enterprise since 2009 and has accumulated significant research and development capabilities, holding 4 invention patents and 77 utility model patents[42]. - The company has developed new products such as the ASME SA-213T series small-diameter alloy seamless steel pipes and TP310HCbN small-diameter pipes, which are expected to replace imports[45][46]. - The company is committed to increasing research and development investments to optimize production processes and reduce manufacturing costs[79]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The company highlighted risks including customer concentration, raw material price fluctuations, and significant accounts receivable and inventory amounts[5]. - The company plans to actively develop new products and expand into overseas markets to mitigate risks associated with customer concentration and improve revenue stability[76]. - The company’s financial management strategy includes an order-based production and procurement approach to maintain reasonable product gross margins despite raw material price volatility[78]. - The company is focusing on enhancing cash flow management and inventory control to mitigate risks associated with high accounts receivable and inventory levels[81]. Environmental Management - The company reported a total emission of 1.4497 tons of particulate matter, which is within the approved limit of 20.15 tons per annum[91]. - The company achieved a sulfur dioxide emission of 6.867 tons per annum, below the regulatory limit of 8.4 tons per annum[91]. - The company has implemented measures to replace coal and coal-derived gas with natural gas and electricity, significantly reducing combustion waste gas emissions[93]. - The wastewater treatment facility recycles treated water, with minimal discharge to the local sewage treatment plant, enhancing water reuse efficiency[93]. - The company has established a hazardous waste management system, ensuring all hazardous waste is collected and disposed of by qualified units without external discharge[93]. - The company adheres to national energy conservation and emission reduction policies through continuous implementation of clean production practices[93]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 10,596[127]. - Major shareholders include Zhou Wenqing with 43.50% ownership and Zong Huanqin with 20.25% ownership[127]. - The total number of restricted shares is 75,000,000, representing 75.00% of the total shares[125]. - The total number of unrestricted shares is 25,000,000, representing 25.00% of the total shares[126]. - The company has not disclosed any share repurchase progress or other significant share changes[126]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period, ensuring stability in ownership[131]. Compliance and Governance - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board[184]. - The financial report for the first half of the year has not been audited, which may affect the reliability of the financial data presented[139]. - The company adheres to the accounting policies and estimates in accordance with the relevant provisions of the Ministry of Finance[187]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[106]. - There were no significant related party transactions or non-operating fund occupation by major shareholders during the reporting period[102][107].

Financial Performance - The company's revenue for Q1 2022 was ¥263,886,323.13, representing a 27.84% increase compared to ¥206,418,371.20 in the same period last year[3] - Net profit attributable to shareholders was ¥13,087,220.86, an increase of 11.81% from ¥11,704,439.68 year-over-year[3] - The net profit after deducting non-recurring gains and losses was ¥12,958,068.56, up 44.36% from ¥8,976,318.53 in the previous year[3] - The total operating revenue for Q1 2022 was CNY 263,886,323.13, an increase of 27.8% compared to CNY 206,418,371.20 in Q1 2021[17] - The net profit for Q1 2022 reached CNY 13,087,220.86, representing a 12.0% increase from CNY 11,704,439.68 in Q1 2021[18] - The company's basic and diluted earnings per share for Q1 2022 were both CNY 0.13, compared to CNY 0.12 in Q1 2021[18] Assets and Liabilities - The company's total assets increased by 2.95% to ¥1,547,734,581.68 from ¥1,503,441,128.71 at the end of the previous year[3] - The total assets as of the end of Q1 2022 were CNY 1,547,734,581.68, compared to CNY 1,503,441,128.71 at the end of Q1 2021[16] - The total liabilities for Q1 2022 were CNY 757,612,935.38, an increase from CNY 727,347,617.22 in Q1 2021[16] - The company's total equity as of Q1 2022 was CNY 790,121,646.30, up from CNY 776,093,511.49 in the same period last year[16] Cash Flow - The net cash flow from operating activities was negative at -¥172,983,076.32, a significant decline of 491.77% compared to -¥29,231,267.87 in the same period last year[3] - The net cash flow from operating activities was -172,983,076.32, a significant decrease compared to -29,231,267.87 in the previous period, indicating a worsening cash flow situation[20] - Total cash inflow from investment activities was 151,732,333.34, while cash outflow was 166,765,598.40, resulting in a net cash flow of -15,033,265.06, an improvement from -55,009,342.61 previously[21] - Cash inflow from financing activities amounted to 199,536,723.21, a substantial increase from 52,086,555.56 in the prior period, reflecting enhanced financing efforts[21] - The net cash flow from financing activities was 164,904,847.50, a significant increase compared to 459,795.91 in the previous period, indicating improved financial stability[21] - The total cash and cash equivalents at the end of the period were 56,227,117.31, down from 79,338,611.19, showing a decrease in liquidity[21] Operational Costs - The total operating costs for Q1 2022 were CNY 248,475,654.83, up 25.6% from CNY 197,739,395.47 in the same period last year[17] - Cash paid for purchasing goods and services was 257,304,841.27, an increase from 208,714,116.02, indicating rising operational costs[20] - Cash paid to employees was 21,355,440.80, up from 19,980,472.53, suggesting increased labor costs[20] Investments and Shareholders - The company has invested in several biotech firms, including a 0.3476% stake in Jiangsu Quanxin Biomedical Co., Ltd.[12] - Major shareholders include Zhou Wenqing with 43.50% and Zong Huanqin with 20.25% of shares[11] - The company has established employee stock ownership platforms, holding 7.85% and 1.90% of shares respectively[11] - The company’s major shareholders have familial relationships, with Zhou Wenqing and Zong Huanqin being spouses[11] Research and Development - Research and development expenses rose by 44.67% to ¥10,586,336.91 from ¥7,317,808.72 year-over-year, indicating increased investment in R&D[8] - Research and development expenses for Q1 2022 amounted to CNY 10,586,336.91, which is a 44.5% increase from CNY 7,317,808.72 in the previous year[17] Accounts Receivable and Payable - The company reported a 365.83% increase in accounts receivable financing, reaching ¥63,778,372.19 compared to ¥13,691,289.36 at the end of the previous year[8] - The company experienced a 40.25% increase in accounts payable, amounting to ¥71,322,234.10, attributed to higher raw material purchases in Q1[8] - Accounts receivable increased to 306,301,625.73 CNY from 297,812,715.90 CNY, reflecting a growth of about 2.6%[14] - Inventory has risen to 241,263,789.28 CNY from 210,444,254.16 CNY, indicating an increase of approximately 14.7%[14] Audit and Compliance - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[22]

Financial Performance - The company's operating revenue for 2021 was ¥1,122,957,172.53, representing a 27.44% increase compared to ¥881,160,810.93 in 2020[19] - The net profit attributable to shareholders for 2021 was ¥52,344,561.08, a slight increase of 0.46% from ¥52,106,034.55 in 2020[19] - The net profit after deducting non-recurring gains and losses decreased by 13.90% to ¥43,593,485.74 from ¥50,629,101.43 in 2020[19] - The net cash flow from operating activities was negative at -¥291,385,418.29, a decline of 345.36% compared to -¥65,426,354.38 in 2020[19] - Basic earnings per share for 2021 were ¥0.52, down 17.46% from ¥0.63 in 2020[19] - Total assets at the end of 2021 reached ¥1,503,441,128.71, a 30.42% increase from ¥1,152,776,183.01 at the end of 2020[19] - The net assets attributable to shareholders increased by 5.33% to ¥776,093,511.49 from ¥736,818,313.21 in 2020[19] - The weighted average return on equity for 2021 was 6.92%, down from 10.37% in 2020, reflecting a decrease of 3.45%[19] Revenue Breakdown - The company's total revenue for the four quarters was approximately 1.12 billion, with Q3 showing the highest revenue at 319.74 million[21] - The steel pipe segment generated ¥1,035,899,869.27, accounting for 92.25% of total revenue, with a year-on-year growth of 26.69%[54] - The alloy steel product line saw revenue of ¥680,981,724.10, which is 60.64% of total revenue, reflecting a 20.07% increase from the previous year[54] - Stainless steel revenue surged by 80.12% to ¥211,480,557.08, increasing its share of total revenue to 18.83%[54] - Domestic sales accounted for 99.93% of total revenue, amounting to ¥1,122,210,654.09, with a growth of 27.43% year-on-year[52] Cash Flow and Investments - The net cash flow from operating activities decreased by 345.36% year-on-year, resulting in a net outflow of ¥291,385,418.29 in 2021[66] - Investment activities generated a net cash inflow of ¥256,129,372.90, a significant increase of 535.19% compared to the previous year[67] - Financing activities saw a cash inflow decrease of 19.17%, totaling ¥434,932,794.97, primarily due to changes in receivable bill discounting[68] - The company reported a total investment income of ¥7,967,953.11, accounting for 14.35% of total profit, derived from long-term equity investment gains[70] Research and Development - Research and development expenses increased by 60.89% to ¥37,082,684.82, driven by higher material costs and increased sales revenue[63] - The number of R&D personnel increased to 66 in 2021, a 1.54% rise from 65 in 2020, with R&D personnel constituting 13.44% of the workforce[64] - The company is in the trial production stage for several new R&D projects, including new seamless pipes for oil refining and ultra-fine stainless steel pipes[64] - The company has been recognized as a high-tech enterprise since 2009 and has established several research and innovation centers, enhancing its R&D capabilities[43] Market Position and Strategy - The company operates in the seamless steel pipe industry, primarily serving the energy equipment sector, including power generation and petrochemical industries[28] - The company holds a nearly 50% market share in the small-diameter alloy seamless steel pipe for power station boilers, with an annual demand of approximately 160,000 tons from the three major boiler manufacturers[44] - The company has established relationships with major clients in the power generation and petrochemical sectors, including Shanghai Boiler Works and Sinopec[31] - The company is focused on expanding its market presence and developing new technologies in the seamless steel pipe sector[118][119] Risk Management - The company highlighted significant risks including customer concentration, raw material price fluctuations, and inventory levels[5] - The company has a high customer concentration, primarily serving large domestic power boiler manufacturers and petroleum refining enterprises, which have strict supplier qualification systems[39] - The competitive landscape in the seamless steel pipe industry is characterized by intense competition in the low-end market, while the mid to high-end market remains more orderly[41] Governance and Compliance - The board of directors consists of 5 members, including 2 independent directors, complying with relevant laws and regulations[107] - The company strictly adheres to information disclosure regulations, ensuring timely and fair communication with investors[108] - The governance structure of the company aligns with the regulations set by the China Securities Regulatory Commission, with no significant discrepancies[110] - The company has established a comprehensive insider information management system to prevent insider trading[108] Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[155] - Total emissions of particulate matter are 1.4497 tons per year, with a permitted limit of 20.15 tons per year, indicating compliance[155] - The company has implemented clean production measures, replacing coal with natural gas and electricity, significantly reducing combustion waste gas emissions[157] - Wastewater treatment facilities are in place, with treated water being reused, enhancing water recycling rates and reducing water pollutants[157] Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 30% based on new product launches and market expansion strategies[171] - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2023[169] - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 20% and reduce operational costs by 10%[171] - The company aims to achieve a net profit margin of 10% in 2022, driven by operational efficiencies and increased sales volume[171]

[Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) This section outlines Shengdexintai New Material Co., Ltd.'s Q3 2021 and year-to-date financial performance, key accounting data, non-recurring items, and major financial statement changes [Key Accounting Data and Financial Indicators](index=1&type=section&id=%28%E4%B8%80%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company's Q3 operating revenue increased by 41.18% year-on-year, but net profit attributable to shareholders decreased by 24.64%; year-to-date, operating revenue grew by 28.73%, net profit declined by 13.22%, and net cash flow from operating activities significantly increased by 137.80% Key Accounting Data and Financial Indicators (Q3 2021 and Year-to-Date) | Indicator | Current Period (RMB) | YoY Change in Current Period | Year-to-Date (RMB) | YoY Change Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 319,738,522.78 | 41.18% | 816,679,490.94 | 28.73% | | Net Profit Attributable to Shareholders | 11,058,323.04 | -24.64% | 32,197,809.24 | -13.22% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 9,729,277.45 | -33.66% | 27,905,568.85 | -24.95% | | Net Cash Flow from Operating Activities | —— | —— | 54,983,093.86 | 137.80% | | Basic Earnings Per Share (RMB/share) | 0.11 | -38.89% | 0.32 | -33.33% | | Diluted Earnings Per Share (RMB/share) | 0.11 | -38.89% | 0.32 | -33.33% | | Weighted Average Return on Net Assets | 1.27% | -1.63% | 3.71% | -5.01% | | **Balance Sheet Indicators** | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-End | | | Total Assets | 1,316,376,744.07 | 1,152,776,183.01 | 14.19% | | | Owners' Equity Attributable to Shareholders | 755,881,049.05 | 736,818,313.21 | 2.59% | | [Non-Recurring Gains and Losses Items and Amounts](index=1&type=section&id=%28%E4%BA%8C%29%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses were RMB 1,329,045.58, and RMB 4,292,240.39 year-to-date, primarily from government grants and fair value changes in financial assets Non-Recurring Gains and Losses Items and Amounts (Unit: RMB) | Item | Amount for Current Period | Amount Year-to-Date | Explanation | | :--- | :--- | :--- | :--- | | Government Grants Included in Current Profit/Loss | 600,000.00 | 3,900,000.00 | | | Fair Value Change Gains/Losses and Investment Income | 1,259,465.40 | 1,436,022.65 | | | Other Non-Operating Income and Expenses | -250,000.00 | -240,394.70 | | | Less: Income Tax Impact | 280,419.82 | 803,387.56 | | | Total | 1,329,045.58 | 4,292,240.39 | -- | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=2&type=section&id=%28%E4%B8%89%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) This section details the reasons for significant changes in the company's balance sheet, income statement, and cash flow statement items, reflecting impacts from rising raw material prices, fundraising project construction, increased R&D investment, and cash flow management adjustments [Significant Changes and Reasons for Balance Sheet Items](index=2&type=section&id=1.%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8%E9%A1%B9%E7%9B%AE%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) As of September 30, 2021, inventory significantly increased by 46.88% due to raw material price hikes, while construction in progress and prepaid engineering costs rose by 364.93% and 32184.81% respectively due to fundraising project construction; notes and accounts payable also increased significantly due to higher raw material purchases Significant Balance Sheet Item Changes (September 30, 2021 vs December 31, 2020) | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | Change from Prior Year-End (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Receivables Financing | 45,540,622.72 | 73,360,377.34 | -37.92% | Due to decrease in bank acceptance bills received from customers | | Other Receivables | 3,644,554.92 | 2,597,049.37 | 40.33% | Due to temporary payment of work injury compensation not yet received | | Inventory | 235,426,926.73 | 160,289,795.56 | 46.88% | Due to significant increase in raw material prices | | Construction in Progress | 16,405,040.03 | 3,528,479.90 | 364.93% | Due to fundraising projects still under construction | | Other Non-Current Assets | 16,142,404.00 | 50,000.00 | 32184.81% | Due to prepaid engineering costs | | Notes Payable | 358,984,413.71 | 224,584,373.14 | 59.84% | Due to increased raw material purchases settled by notes | | Accounts Payable | 75,092,713.94 | 51,878,898.45 | 44.75% | Due to increased material purchases on credit | | Contract Liabilities | 3,024,118.91 | 5,139,490.37 | -41.16% | Due to decrease in advance receipts | | Taxes Payable | 6,305,748.65 | 2,236,233.45 | 181.98% | Due to estimated income tax not fully deducted this period | | Other Payables | 8,181.09 | 731,303.88 | -98.88% | Due to partial payment of outstanding debts | | Other Current Liabilities | 393,135.46 | 668,133.74 | -41.16% | Due to decrease in advance receipts | [Significant Changes and Reasons for Income Statement Items](index=2&type=section&id=2.%E5%88%A9%E6%B6%A6%E8%A1%A8%E9%A1%B9%E7%9B%AE%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Year-to-date, operating costs increased by 34.41% due to higher sales, and R&D expenses surged by 83.12% reflecting increased investment; selling expenses significantly decreased by 81.52% as freight costs were reclassified to operating costs, while other income grew by 255.49% due to increased government grants Significant Income Statement Item Changes (September 30, 2021 vs September 30, 2020) | Item | September 30, 2021 (RMB) | September 30, 2020 (RMB) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Costs | 717,975,996.95 | 534,187,022.48 | 34.41% | Due to increased sales compared to the same period last year | | Selling Expenses | 2,525,386.08 | 13,666,850.51 | -81.52% | Due to freight costs being reclassified into operating costs | | Administrative Expenses | 20,314,239.11 | 14,342,331.20 | 41.64% | Due to increased amortization of intangible assets and cessation of social security contribution reductions | | R&D Expenses | 30,968,011.21 | 16,911,379.76 | 83.12% | Due to increased R&D investment | | Interest Income | 2,140,608.21 | 1,254,895.50 | 70.58% | Due to increased interest income from bank acceptance bill deposits | | Other Income | 3,919,605.31 | 1,102,590.20 | 255.49% | Due to increased government grant projects | | Credit Impairment Losses | -2,656,467.11 | -1,230,364.50 | 115.91% | Due to extended accounts receivable payment terms | | Non-Operating Expenses | 260,000.01 | 1,011,718.85 | -74.30% | Due to decreased donations this period | [Significant Changes and Reasons for Cash Flow Statement Items](index=3&type=section&id=3.%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Year-to-date, net cash flow from operating activities significantly increased by 137.8% year-on-year, mainly due to slightly slower accounts receivable collection this period but higher payments for goods last period; net cash flow from financing activities decreased by 113.11% year-on-year, primarily due to increased public investment last period and reduced bank borrowings this period Significant Cash Flow Statement Item Changes (September 30, 2021 vs September 30, 2020) | Item | September 30, 2021 (RMB) | September 30, 2020 (RMB) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 54,983,093.86 | -145,469,773.77 | 137.8% | Due to slightly slower accounts receivable collection this period, while more payments for goods were made last period | | Net Cash Flow from Financing Activities | -45,762,877.73 | 348,946,406.45 | -113.11% | Due to increased public investment last period and reduced bank borrowings this period | [Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) This section discloses the total number of common shareholders, top ten shareholders' holdings and their affiliations, and information on some shareholders' participation in margin trading and securities lending as of the end of the reporting period [Total Common Shareholders and Top Ten Shareholders' Holdings](index=3&type=section&id=%28%E4%B8%80%29%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had 11,957 common shareholders; the top two shareholders, Zhou Wenqing and Zong Huanqin, are a married couple holding 43.50% and 20.25% of shares respectively, with multiple layers of affiliation - The total number of common shareholders at the end of the reporting period was **11,957**, with no preferred shareholders whose voting rights have been restored[11](index=11&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Zhou Wenqing | Domestic Natural Person | 43.50% | 43,500,000 | 43,500,000 | | Zong Huanqin | Domestic Natural Person | 20.25% | 20,250,000 | 20,250,000 | | Changzhou Lianhong Enterprise Management Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 7.85% | 7,850,000 | 7,850,000 | | Changzhou Xintai Enterprise Management Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.90% | 1,900,000 | 1,900,000 | | Shenzhen Nantong Bo Electronic Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.50% | 1,500,000 | 1,500,000 | - Zhou Wenqing and Zong Huanqin are a married couple, directly holding **43.50%** and **20.25%** of the company's shares respectively, serving as the actual controllers. The company's employee shareholding platforms, Changzhou Lianhong Enterprise Management Center (Limited Partnership) and Changzhou Xintai Enterprise Management Center (Limited Partnership), are also among the top ten shareholders and have affiliations with major shareholders[12](index=12&type=chunk) - Some of the top 10 unrestricted shareholders hold shares through both ordinary securities accounts and credit trading guarantee securities accounts, participating in margin trading and securities lending businesses[12](index=12&type=chunk) [Preferred Shareholder Information](index=4&type=section&id=%28%E4%BA%8C%29%E5%85%AC%E5%8F%B8%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%8F%8A%E5%89%8D%2010%20%E5%90%8D%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) The company has no preferred shareholders - The company has no preferred shareholders[13](index=13&type=chunk) [Restricted Share Changes](index=4&type=section&id=%28%E4%B8%89%29%E9%99%90%E5%94%AE%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) There were no changes in the company's restricted shares during the reporting period - There were no changes in the company's restricted shares[13](index=13&type=chunk) [Other Significant Matters](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) The company had no other significant matters requiring disclosure during the reporting period - The company had no other significant matters requiring disclosure[13](index=13&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides Shengdexintai New Material Co., Ltd.'s consolidated balance sheet as of September 30, 2021, consolidated income statement and cash flow statement from year-beginning to end of reporting period, along with explanations of financial statement adjustments and audit status [Financial Statements](index=5&type=section&id=%28%E4%B8%80%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section includes the company's unaudited consolidated balance sheet, income statement, and cash flow statement, comprehensively presenting the financial position, operating results, and cash flows at the end of the reporting period [Consolidated Balance Sheet](index=5&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2021, total assets reached **RMB 1,316,376,744.07**, a 14.19% increase from the prior year-end; total current liabilities were **RMB 560,495,695.02**, up 34.75% from the prior year-end, primarily due to increased notes and accounts payable Consolidated Balance Sheet Key Data (Unit: RMB) | Item | September 30, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 270,648,557.75 | 262,344,277.97 | Increase | | Financial Assets Held for Trading | 150,000,000.00 | 150,950,833.34 | Decrease | | Accounts Receivable | 330,662,398.18 | 279,808,332.67 | Increase | | Inventory | 235,426,926.73 | 160,289,795.56 | Increase | | Construction in Progress | 16,405,040.03 | 3,528,479.90 | Increase | | Other Non-Current Assets | 16,142,404.00 | 50,000.00 | Significant Increase | | Total Current Assets | 1,129,963,781.37 | 1,020,865,302.09 | Increase | | Total Non-Current Assets | 186,412,962.70 | 131,910,880.92 | Increase | | Total Assets | 1,316,376,744.07 | 1,152,776,183.01 | Increase | | Short-term Borrowings | 107,460,000.00 | 121,000,000.00 | Decrease | | Notes Payable | 358,984,413.71 | 224,584,373.14 | Increase | | Accounts Payable | 75,092,713.94 | 51,878,898.45 | Increase | | Taxes Payable | 6,305,748.65 | 2,236,233.45 | Increase | | Total Current Liabilities | 560,495,695.02 | 415,957,869.80 | Increase | | Total Liabilities | 560,495,695.02 | 415,957,869.80 | Increase | | Total Equity Attributable to Parent Company Owners | 755,881,049.05 | 736,818,313.21 | Increase | | Total Liabilities and Equity | 1,316,376,744.07 | 1,152,776,183.01 | Increase | [Consolidated Income Statement from Year-Beginning to End of Reporting Period](index=7&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) Year-to-date, total operating revenue was **RMB 816,679,490.94**, a 28.73% year-on-year increase; net profit was **RMB 32,197,809.24**, a 13.22% year-on-year decrease, mainly due to increased operating costs, administrative and R&D expenses, and expanded credit impairment losses Consolidated Income Statement Key Data (Year-to-Date, Unit: RMB) | Item | Amount for Current Period | Amount for Prior Period | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 816,679,490.94 | 634,420,919.07 | Increase | | Total Operating Costs | 780,633,230.00 | 588,637,789.74 | Increase | | Operating Costs | 717,975,996.95 | 534,187,022.48 | Increase | | Selling Expenses | 2,525,386.08 | 13,666,850.51 | Decrease | | Administrative Expenses | 20,314,239.11 | 14,342,331.20 | Increase | | R&D Expenses | 30,968,011.21 | 16,911,379.76 | Increase | | Financial Expenses | 6,386,571.96 | 6,496,572.93 | Decrease | | Other Income | 3,919,605.31 | 1,102,590.20 | Increase | | Investment Income | 1,436,022.65 | 0.00 | Increase | | Credit Impairment Losses | -2,656,467.11 | -1,230,364.50 | Loss Expanded | | Operating Profit | 38,745,421.79 | 46,516,126.07 | Decrease | | Total Profit | 38,485,421.78 | 45,504,407.22 | Decrease | | Income Tax Expense | 6,287,612.54 | 8,400,656.41 | Decrease | | Net Profit | 32,197,809.24 | 37,103,750.81 | Decrease | | Net Profit Attributable to Parent Company Owners | 32,197,809.24 | 37,103,750.81 | Decrease | | Basic Earnings Per Share | 0.32 | 0.48 | Decrease | [Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period](index=9&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Year-to-date, net cash flow from operating activities turned positive to **RMB 54,983,093.86**; net cash flow from investing activities was **-RMB 111,594,418.95**, indicating increased outflow; net cash flow from financing activities significantly decreased to **-RMB 45,762,877.73** compared to the prior period, mainly due to higher investment absorption last period and reduced bank borrowings this period Consolidated Cash Flow Statement Key Data (Year-to-Date, Unit: RMB) | Item | Amount for Current Period | Amount for Prior Period | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 54,983,093.86 | -145,469,773.77 | Turned from negative to positive, significant increase | | Net Cash Flow from Investing Activities | -111,594,418.95 | -94,480,396.20 | Outflow increased | | Net Cash Flow from Financing Activities | -45,762,877.73 | 348,946,406.45 | Significant decrease | | Net Increase in Cash and Cash Equivalents | -102,386,119.05 | 108,799,339.73 | Turned from positive to negative, significant decrease | | Cash and Cash Equivalents at End of Period | 60,729,000.90 | 166,003,523.48 | Decrease | [Explanation of Financial Statement Adjustments](index=11&type=section&id=%28%E4%BA%8C%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E8%B0%83%E6%95%B4%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company adopted new leasing standards for the first time in 2021 but did not adjust relevant financial statement items at the beginning of the adoption year, nor did it retrospectively adjust prior comparative data - The company adopted new leasing standards for the first time in 2021 but did not adjust relevant financial statement items at the beginning of the adoption year, nor did it retrospectively adjust prior comparative data[26](index=26&type=chunk) [Audit Report](index=11&type=section&id=%28%E4%B8%89%29%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly report is unaudited - The company's third-quarter report is unaudited[26](index=26&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥496.94 million, representing a 21.81% increase compared to ¥407.95 million in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 5.75% to approximately ¥21.14 million, down from ¥22.43 million in the previous year[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥18.18 million, a decrease of 19.27% compared to ¥22.51 million in the same period last year[20]. - The basic earnings per share decreased by 30% to ¥0.21, down from ¥0.30 in the same period last year[20]. - The weighted average return on net assets was 2.85%, down from 5.85% in the previous year[20]. - The gross profit margin for stainless steel products decreased by 8.69% to 21.01%, while the gross profit margin for alloy steel products decreased by 4.22% to 8.89%[42]. - The company's total comprehensive income attributable to the parent company was CNY 21.14 million, compared to CNY 22.43 million in the same period of 2020[155]. - The total comprehensive income for the first half of 2021 was 19,867,885.15 yuan, reflecting a significant increase compared to the previous period[171]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to approximately ¥54.98 million, compared to a negative cash flow of ¥89.15 million in the same period last year, marking a 161.67% increase[20]. - The company's investment activities generated a net cash flow of approximately -¥111.59 million, a significant increase of 2,652.46% compared to -¥4.05 million in the previous year[40]. - The cash flow from operating activities generated a net inflow of CNY 54.98 million, a significant improvement from a net outflow of CNY 89.15 million in the first half of 2020[159]. - The cash flow from investment activities showed a net outflow of ¥114,094,418.95 in the first half of 2021, compared to a smaller outflow of ¥554,346.20 in the first half of 2020[163]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥1.29 billion, an increase of 12.33% from ¥1.15 billion at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 1.09% to approximately ¥744.86 million, compared to ¥736.82 million at the end of the previous year[20]. - The company's inventory increased to approximately ¥262.76 million, accounting for 20.29% of total assets, up from 13.90% in the previous year[45]. - The total liabilities of the company were CNY 550,018,683.37, compared to CNY 415,957,869.80 at the end of 2020, representing an increase of about 32.2%[143]. Market and Industry - The company primarily produces seamless steel pipes for industrial energy equipment, with applications in power station boiler manufacturing and petroleum refining[27]. - The market for seamless steel pipes is expected to grow due to increasing demand for high-efficiency supercritical and ultra-supercritical boilers[31]. - The energy equipment seamless steel pipe market is experiencing a trend towards higher quality requirements and increased domestic production ratios[31]. - The downstream industry, primarily the power station boiler sector, is expected to maintain steady growth due to increasing electricity demand in South Asia and Southeast Asia[67]. Research and Development - The company has established a research center for high-performance heat-resistant alloy seamless pipes, enhancing its technological capabilities[34]. - The company is developing a new nickel-iron-based HT700 high-temperature alloy for 700°C advanced ultra-supercritical (A-USC) power generation units, which is expected to dominate the market upon successful development[37]. - The company invested CNY 18,552,889.26 in R&D during the first half of 2021, which is a significant increase from CNY 9,703,342.19 in the same period of 2020, reflecting a growth of 91.5%[149]. Risk Management - The company faces several risks, including customer concentration risk, raw material price volatility, and significant accounts receivable and inventory amounts[5]. - The top five customers account for over 80% of the company's revenue, indicating a high concentration risk[63]. - The main raw material costs account for over 75% of the main business costs, making the company vulnerable to fluctuations in raw material prices[64]. - The company aims to diversify its customer base and develop new products to mitigate risks associated with customer concentration[63]. Environmental and Social Responsibility - The company implemented clean production measures, replacing coal with natural gas and electricity, significantly reducing emissions of combustion pollutants[80]. - The company processed wastewater for reuse, with a small amount directed to the local sewage treatment plant, enhancing water recycling rates[80]. - The company has not faced any environmental penalties during the reporting period, adhering strictly to environmental regulations[85]. - The company ensures compliance with labor laws and timely payment of social insurance and housing funds for employees[87]. Corporate Governance - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[56][58]. - The company reported no commitments that were not fulfilled by the controlling shareholders or related parties during the reporting period[92]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[93]. - The company had no violations regarding external guarantees during the reporting period[94].