龙利得智能科技股份有限公司 2023 年第一季度报告 证券代码：300883 证券简称：龙利得 公告编号：2023-019 龙利得智能科技股份有限公司 2023 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经过审计 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 144,406,264.86 | 161,064,856.06 | -10.34% | | 归属于上市公司股东的净利润 | 5,330,712.32 | 11,137,120.85 | -52.14% | | （元） ...

| 2、问：近几年消费低迷，资本市场运作不全面的情况下， | | --- | | 贵公司的利润也较前几年在减少，疫情三年经济低迷， | | 请问贵司在此方面有什么好的对策吗?对印刷包装的未 | | 来如何展望? | | 答：您好！在国家大力实施包装减量化的政策要求下， | | 纸包装材料因其轻质便捷、印刷适应性强等特性，相较 | | 其他印刷包装的竞争优势更加明显，其市场竞争力将会 | | 逐步增强，应用领域也将愈加广泛。公司会继续通过扩 | | 大在主营业务领域的领先优势，进一步巩固和提升公司 | | 智能智造、数字化印刷和绿色纸包装印刷方面的优势， | | 提升业务的专业化、系统化竞争能力和市场覆盖面，提 | | 高公司利润率。感谢您的关注，谢谢！ | | 3、问：至去年 12 月疫情放开后，国民经济一月份有一 | | 定复苏迹象，请问后面生产经营是否能呈现稳增长态势 | | 呢？ | | 答：您好！公司业绩情况敬请关注公司后续发布的定期 | | 报告。公司认为随着疫情防控政策放开及市场环境逐渐 | | 回暖，长期来看消费市场有望复苏。公司将继续夯实在 | | 客户资源、产业链布局等方面的行业竞争优势，积 ...

Financial Performance - The company's operating revenue for 2022 was approximately ¥640.99 million, a decrease of 15.19% compared to ¥755.79 million in 2021[18]. - The net profit attributable to shareholders for 2022 was approximately ¥31.34 million, down 39.05% from ¥51.42 million in the previous year[18]. - The net profit after deducting non-recurring gains and losses was approximately ¥24.14 million, a decline of 42.59% from ¥42.04 million in 2021[18]. - The basic earnings per share for 2022 was ¥0.09, a decrease of 40.00% compared to ¥0.15 in 2021[18]. - The total revenue for 2022 was ¥640,992,374.86, representing a decrease of 15.19% compared to ¥755,785,412.23 in 2021[61]. - The revenue from carton products was ¥551,754,241.27, accounting for 86.08% of total revenue, which is a decline of 17.86% from ¥671,735,019.47 in the previous year[61]. - The revenue from paperboard products increased by 13.39% to ¥75,897,342.33, compared to ¥66,937,237.17 in 2021[61]. - The gross profit margin for the packaging manufacturing industry was 18.81%, slightly down by 0.85% from the previous year[62]. - The overall performance of the paper and paperboard container industry showed a revenue decline of 5.01% in 2022, indicating that the company's performance aligns with industry trends[58]. Assets and Liabilities - The total assets at the end of 2022 were approximately ¥2.05 billion, an increase of 1.81% from ¥2.01 billion at the end of 2021[18]. - The company's cash and cash equivalents decreased by CNY 69.59 million, representing a decline of 142.90% year-over-year[74]. - Fixed assets increased by 23.93% to CNY 490.78 million, attributed to the completion of the Bocheng project[81]. - The company's long-term borrowings rose significantly by 6.56% to CNY 274.72 million, mainly used for the second phase of the Bocheng project[81]. - The total amount of funds raised by the company in its initial public offering (IPO) was RMB 401.36 million, with a net amount of RMB 358.99 million after deducting related issuance costs[95]. Cash Flow - The net cash flow from operating activities for 2022 was approximately ¥50.84 million, a decrease of 8.66% from ¥55.66 million in 2021[18]. - The cash outflow from operating activities decreased by 21.01% to CNY 663,636,766.87 in 2022 compared to CNY 840,131,648.48 in 2021[73]. - The total cash inflow from financing activities was approximately CNY 481.77 million, a slight increase of 0.37% year-over-year, while cash outflows increased by 26.46% to CNY 430.31 million[74]. - The net cash flow from investing activities decreased by 93.81% to CNY 7.98 million, primarily due to the absence of structured deposit products compared to the previous year[75]. Research and Development - The company emphasizes research and development as a core strategy to maintain competitive advantages and support market expansion[37]. - Research and development expenses decreased by 10.79% to 33,511,179.91 CNY in 2022 from 37,564,771.75 CNY in 2021[68]. - The company is focusing on developing new eco-friendly packaging products, with several projects in the verification and promotion stages aimed at enhancing product competitiveness and market share[70]. - The company aims to enhance customer satisfaction and product competitiveness through the development of biodegradable and environmentally friendly packaging solutions[70]. - The number of R&D personnel increased by 1.96% to 104 in 2022, with the proportion of R&D staff rising to 18.34%[71]. Market Trends and Industry Insights - The global packaging printing market is projected to reach $473.7 billion in 2022, with an expected growth to $551.3 billion by 2027, reflecting a CAGR of 3.1%[27]. - In China, the packaging industry achieved a total revenue of CNY 1,229.334 billion in 2022, with paper and paperboard container manufacturing contributing CNY 304.547 billion, accounting for 24.77% of the total[29]. - The number of large-scale enterprises in China's packaging industry (with annual revenue above CNY 20 million) increased to 9,860 in 2022, up by 1,029 from the previous year[29]. - The paper packaging segment is expected to gain market share as environmental concerns lead to a decline in plastic packaging usage[29]. - The flexible printing process accounted for approximately 36% of the packaging printing market in 2022, with a projected growth rate of 2.4% by 2027[27]. Corporate Governance and Management - The company has established a sound internal management and control system to enhance governance and protect shareholder interests[123]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[124]. - The company emphasizes investor relations management, actively communicating with investors through various channels[127]. - The company has implemented effective measures to ensure the independence of the supervisory board and its ability to oversee the management's compliance with legal and regulatory requirements[125]. - The company has established an independent financial department and a complete financial accounting system, ensuring independent financial decision-making[130]. Sustainability and Environmental Practices - The company has established a comprehensive environmental management system and has obtained ISO14001:2015 certification[179]. - The company strictly adheres to environmental protection laws and has not faced any administrative penalties related to environmental issues during the reporting period[177]. - The company has implemented measures to address potential environmental and safety risks, including the establishment of wastewater treatment systems[179]. - The company utilizes eco-friendly water-based printing technology, significantly reducing harmful emissions[50]. Shareholder Relations and Profit Distribution - The profit distribution policy emphasizes a stable and continuous approach, with cash dividends prioritized over stock distributions, requiring at least 20% of distributable profits to be allocated as cash dividends[164]. - The company proposed a cash dividend of 0.1 yuan per 10 shares for 2022, amounting to 3,438,850.13 yuan (including tax), with no stock dividends or capital reserve transfers[167]. - The total cash dividend for 2022, including share buyback amounts, reached 15,713,184.83 yuan, representing 50.14% of the net profit attributable to shareholders[168]. - The company ensures that profit distribution does not exceed the cumulative distributable profits and does not harm its ongoing operational capability[166]. Future Outlook and Strategic Initiatives - The company plans to enhance market share by increasing market expansion efforts and innovating marketing strategies[112]. - The company will invest in smart manufacturing and digital transformation, particularly in the Shanghai Longlide Cultural Innovation Park[113]. - The company aims to improve production efficiency and product quality through continuous upgrades in equipment and processes[114]. - The company plans to leverage the growing demand for packaging due to the rise of e-commerce and personalized customization[112]. - The company will focus on building a digitalized and interconnected operational framework to support decision-making and management[113].

证券代码：300883 证券简称：龙利得 龙利得智能科技股份有限公司 投资者关系活动记录表 编号：2022-003 | --- | --- | --- | |-----------------------|---------------------------------------------------|-----------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | □ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | ☑ 其他 | "安徽辖区上市公司 2022 年投资者网上集体接待日" | | 参与单位名称及 | | 通过全景网"投资者关系互动平台"（ http://rs.p5w.net ）"参 | | 人员姓名 | 与 2022 | 年度安徽上市公司投资者网上集体接待日的投资者 ...

Financial Performance - The company's revenue for Q3 2022 was ¥170,022,896.10, a decrease of 8.41% compared to the same period last year[5] - Net profit attributable to shareholders was ¥9,535,300.56, down 17.59% year-on-year, while the net profit excluding non-recurring gains and losses was ¥8,322,628.77, a decline of 24.12%[5] - Year-to-date revenue reached ¥466,565,315.22, reflecting a 12.24% decrease compared to the previous year[5] - Year-to-date net profit attributable to shareholders decreased by 35.61% to ¥24,968,737.60, primarily due to revenue decline and increased costs influenced by the pandemic[9] - Basic and diluted earnings per share for Q3 were both ¥0.0276, down 17.37% year-on-year[5] - Total operating revenue for the current period is ¥466,565,315.22, a decrease of 12.24% from ¥531,655,545.54 in the previous period[19] - Net profit for the current period is ¥24,951,946.86, a decline of 35.66% compared to ¥38,779,102.98 in the previous period[20] - The company’s gross profit margin for the current period is approximately 4.83%, down from 6.00% in the previous period[19] - Basic and diluted earnings per share for the current period are both ¥0.0722, down from ¥0.1121 in the previous period[20] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was ¥71,962,513.41, a significant increase of 537.90% compared to the previous year[9] - Operating cash flow for the current period is ¥71,962,513.41, a significant improvement from a negative cash flow of ¥16,433,433.12 in the previous period[22] - The company reported a net cash outflow from investing activities of ¥142,913,618.52, compared to a net outflow of ¥97,641,119.00 in the previous period[22] - The company’s total cash inflow from financing activities is ¥373,872,795.00, an increase from ¥329,294,847.22 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,140,231,363.59, an increase of 6.26% from the end of the previous year[5] - As of September 30, 2022, the total assets of Longlide Intelligent Technology Co., Ltd. amounted to CNY 2,140,231,363.59, an increase from CNY 2,014,108,811.32 at the beginning of the year, representing a growth of approximately 6.26%[16] - The company's cash and cash equivalents increased to CNY 528,099,344.60 from CNY 512,831,192.82, reflecting a rise of about 2.47%[16] - Inventory levels rose to CNY 365,322,744.43, up from CNY 336,765,433.59, indicating an increase of approximately 8.49%[16] - Total liabilities increased to CNY 698,854,518.34 from CNY 594,244,072.34, marking a growth of around 17.61%[17] - The company's total equity attributable to shareholders reached CNY 1,437,396,441.41, up from CNY 1,415,867,544.40, which is an increase of about 1.52%[18] - The non-current assets totaled CNY 968,785,301.81, compared to CNY 877,593,148.38 at the beginning of the year, reflecting an increase of approximately 10.50%[17] - The company's short-term borrowings decreased slightly to CNY 278,489,708.34 from CNY 283,544,241.10, a decline of about 1.96%[17] - The total receivables, including accounts receivable, were CNY 157,979,829.58, down from CNY 159,760,761.22, indicating a decrease of approximately 1.11%[16] - The company's retained earnings increased to CNY 496,934,721.07 from CNY 475,425,983.47, representing a growth of about 4.54%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,311[10] - The top shareholder, Zhang Yunxue, holds 12.39% of the shares, totaling 42,875,000 shares[10] - The company reported a total of 109,684,150 shares under lock-up agreements, with no shares released during the reporting period[14] Government Subsidies - The company received government subsidies amounting to ¥2,256,627.29 during the quarter, contributing to its financial performance[7]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥296,542,419.12, a decrease of 14.30% compared to ¥346,017,726.70 in the same period last year[20]. - The net profit attributable to shareholders was ¥15,433,437.04, down 43.28% from ¥27,209,052.44 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥11,304,678.24, a decline of 46.72% compared to ¥21,215,669.34 in the previous year[20]. - The basic earnings per share decreased to ¥0.0446, down 43.26% from ¥0.0786 in the same period last year[20]. - The diluted earnings per share also fell to ¥0.0446, a decrease of 43.26% compared to the previous year[20]. - The weighted average return on equity was 1.08%, down from 1.97% in the same period last year, a decrease of 0.89%[20]. - The company's revenue for the reporting period was ¥296,542,419.12, a decrease of 14.30% compared to ¥346,017,726.70 in the same period last year, primarily due to the impact of the pandemic[51]. - The cost of sales decreased by 13.89% to ¥238,442,444.51 from ¥276,899,954.05, reflecting the decline in revenue[52]. - The company's gross margin for the packaging manufacturing segment was 19.59%, with a slight decrease of 0.39% year-on-year[54]. - The company reported a decrease in comprehensive income of approximately 15.433 million yuan, reflecting a decline in overall performance[177]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 240.45% to ¥70,961,176.35 from ¥20,843,065.19 in the same period last year[20]. - Operating cash flow net amount increased significantly by 240.45% to ¥70,961,176.35, driven by reduced cash payments for goods and services and increased tax refunds[52]. - The net cash flow from investing activities was -¥100,636,827.58 in 2022, worsening from -¥28,121,255.87 in 2021, indicating increased investment expenditures[171]. - Cash inflow from financing activities rose to ¥224,555,395.00 in 2022, up from ¥123,207,560.00 in 2021, marking an increase of approximately 82.2%[171]. - The net cash flow from financing activities improved to ¥128,937,501.24 in 2022 compared to ¥56,413,382.69 in 2021, an increase of about 128.3%[171]. - The total cash and cash equivalents at the end of the first half of 2022 were ¥578,854,974.39, compared to ¥557,293,272.15 at the end of the first half of 2021, showing a growth of approximately 3.9%[171]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,175,198,582.72, reflecting an increase of 8.00% from ¥2,014,108,811.32 at the end of the previous year[20]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,431,300,981.44, a slight increase of 1.09% from ¥1,415,867,544.40 at the end of the previous year[20]. - The company's fixed assets decreased to ¥377,647,463.85 from ¥397,682,583.31, a reduction of 2.38%[58]. - The company's short-term borrowings increased to ¥328,778,418.04 from ¥283,544,241.10, reflecting a rise of 1.03%[58]. - The total current assets amounted to ¥1,229,097,945.59, up from ¥1,136,515,662.94, indicating a growth of about 8.19%[155]. - Current liabilities increased to CNY 430,368,702.33, compared to CNY 376,913,742.40 at the beginning of the year, marking a rise of 14.2%[157]. Research and Development - The company has increased investments in R&D, marketing, and management systems to mitigate the adverse effects of the pandemic and rising raw material prices[31]. - The company’s R&D investment rose by 3.16% to ¥16,781,555.82, influenced by increased personnel costs in R&D[52]. - Research and development expenses increased to ¥16,781,555.82 in H1 2022, compared to ¥16,266,731.38 in H1 2021, reflecting a growth of approximately 3.2%[163]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[185]. Market and Industry Context - In 2022, the company faced significant challenges due to complex international environments and domestic pandemic impacts, particularly affecting its Shanghai production base[30]. - The packaging industry in China achieved a total revenue of CNY 1,204.18 billion in 2021, representing a year-on-year growth of 16.39%[38]. - The paper and paperboard packaging sector accounted for CNY 319.20 billion in revenue, with a year-on-year increase of 13.56%, making up 26.51% of the overall packaging industry revenue[38]. - The company has been recognized as a leading enterprise in the corrugated paper packaging industry, receiving multiple awards including "National Printing Demonstration Enterprise" and "Top 100 Printing Packaging Enterprises in China"[40]. - The company faces risks from intensified market competition, with the top 10 players in the packaging industry holding less than 10% market share, leading to potential performance decline[84]. Compliance and Governance - The company emphasizes compliance with environmental laws and has not faced any administrative penalties related to environmental issues during the reporting period[96]. - The company has established a comprehensive environmental management system and has obtained ISO14001 certification[98]. - The company has confirmed compliance with regulations regarding the management and use of raised funds, ensuring no violations occurred[71]. - The company has not reported any major changes in the measurement attributes of its main assets during the reporting period[60]. Future Outlook and Strategy - The company plans to expand its market presence by investing in new product development and technology enhancements[177]. - The company aims to achieve a revenue growth target of 10% for the next fiscal year, supported by new product launches and market expansion efforts[177]. - The company is exploring potential mergers and acquisitions to accelerate growth and diversify its product offerings[182]. - Future performance guidance indicates a focus on sustainable growth and profitability, aiming for a continued upward trajectory in financial results[182].

Financial Performance - The company's operating revenue for 2021 was approximately ¥755.79 million, representing a 5.79% increase compared to ¥714.44 million in 2020[19]. - The net profit attributable to shareholders decreased by 21.26% to ¥51.42 million in 2021 from ¥65.30 million in 2020[19]. - The net cash flow from operating activities was ¥55.66 million, down 17.19% from ¥67.21 million in the previous year[19]. - Basic earnings per share fell by 34.78% to ¥0.15 in 2021, compared to ¥0.23 in 2020[19]. - Total assets increased by 13.47% to ¥2.01 billion at the end of 2021, up from ¥1.78 billion at the end of 2020[19]. - The net assets attributable to shareholders rose by 3.51% to ¥1.42 billion at the end of 2021, compared to ¥1.37 billion at the end of 2020[19]. - The company reported a decrease in the weighted average return on equity to 3.69% in 2021 from 6.13% in 2020[19]. - The net profit after deducting non-recurring gains and losses was ¥42.04 million, a decline of 19.37% from ¥52.14 million in 2020[19]. - The total revenue for 2021 was ¥755,785,412.23, representing a year-on-year increase of 5.79% from ¥714,443,720.95 in 2020[57]. - The revenue from carton products was ¥671,735,019.47, accounting for 88.88% of total revenue, with a year-on-year growth of 9.25%[57]. Market and Industry Trends - The company plans to expand its market presence by focusing on high-end packaging solutions, which are increasingly in demand due to consumer upgrades[30]. - The domestic paper packaging market is expected to grow as environmental regulations reduce plastic usage, leading to a shift towards paper products[30]. - The corrugated packaging industry is expected to grow steadily due to increasing demand from downstream sectors like fast-moving consumer goods and e-commerce logistics[35]. - The overall industrial value added in the printing and recording media reproduction industry grew by 11.2%, outperforming the average growth rate of all industries[29]. - The company has identified opportunities for mergers and acquisitions to strengthen its market position and enhance operational capabilities[32]. Research and Development - The company has developed over 353 patents, focusing on core technologies in corrugated structure and water-based high-definition printing, enhancing product value and functionality[36]. - The company emphasizes R&D investment, which has strengthened its competitive advantage and supported market expansion efforts[38]. - The total R&D investment in 2021 amounted to ¥37,564,771.75, representing 4.97% of the operating revenue, an increase from 4.82% in 2020[72]. - The number of R&D personnel increased to 102 in 2021, up by 8.51% from 94 in 2020, with a notable increase in bachelor's degree holders by 29.40%[72]. - The company is currently in the product validation phase for a new adjustable embossing device aimed at enhancing product flexibility and operational performance[69]. Operational Efficiency - The company integrates advanced manufacturing technologies, achieving automation and smart logistics, which improves operational efficiency and reduces costs[36]. - The company has established a standardized production process and layout, ensuring production efficiency and product quality while reducing operational costs[42]. - The production cycle for the company's products typically ranges from 1 to 5 days, allowing for a strong supply capability to respond quickly to customer orders[42]. - The company has developed automated and intelligent production processes, significantly enhancing service capabilities and reducing costs[47]. - The company focuses on cost control through automation and optimization, significantly reducing labor and material costs[54]. Sustainability and Environmental Commitment - The company has successfully passed the first batch of national green product certifications for express packaging, reflecting its commitment to sustainable practices[39]. - The focus on green packaging solutions aligns with global trends towards sustainability, positioning the company favorably in the market[34]. - The company is responding to environmental policies by transitioning to more sustainable materials, such as replacing plastic with paper products[103]. - The company has implemented a comprehensive environmental management system and has passed the ISO 14001:2015 certification[174]. - The company has a strong commitment to environmental sustainability through the use of eco-friendly printing technologies[50]. Governance and Compliance - The company is committed to enhancing its governance structure and investor relations to protect shareholder interests and ensure compliance with regulations[112]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[113]. - The company has established a robust internal control system, ensuring no significant defects in financial reporting as of the evaluation report date[163]. - The internal control evaluation report indicates that all major aspects of financial reporting internal controls have been maintained effectively[163]. - The company has committed to continuous improvement of its internal control system to adapt to changing external and internal management requirements[161]. Shareholder Relations and Dividends - The company plans to distribute a cash dividend of ¥0.10 per 10 shares, totaling approximately ¥34.6 million based on 346 million shares[7]. - The company’s profit distribution policy states that cash dividends should not be less than 20% of the distributable profit for the year, provided certain conditions are met[152]. - The total cash dividend amount represents 100% of the distributable profit of 294,807,013.22 yuan[159]. - The company aims for a minimum cash dividend ratio of 80% when in a mature stage without major capital expenditures[153]. - The company has established a comprehensive performance evaluation system to align employee compensation with their responsibilities and contributions[150]. Financial Management - The company has implemented a rigorous accounts receivable management system to ensure timely and full recovery of receivables[44]. - The company is developing a comprehensive funding strategy, including attracting third-party strategic investors and refinancing to ensure stable financial support for operations[106]. - The company reported a fair value change of CNY -285,068.49 for other financial assets during the reporting period[86]. - The company has committed to using the raised funds in accordance with the relevant regulations and has disclosed the status of fund usage accurately[90]. - The company has a total of RMB 7,413.3 million in bank loans and working capital replenishment, fully utilized by the end of the reporting period[93].

龙利得智能科技股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 龙利得智能科技股份有限公司 2022 年第一季度报告全文 证券代码：300883 证券简称：龙利得 公告编号：2022-018 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 161,064,856.06 | 159,794,192.52 | 0.80% | | 归属于上市公司股东的净利润（元） | 11,137,120.85 | 12,307 ...

[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) The company experienced modest revenue growth but faced significant pressure on profitability and cash flow during the first three quarters of 2021 [Key Accounting Data and Financial Indicators](index=1&type=section&id=%E4%B8%80%E3%80%81(%E4%B8%80)%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 2021 revenue grew slightly, but profitability declined, with year-to-date net profit falling 16.21% due to rising costs Key Financial Indicators for Q3 2021 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change | Year-to-Date (YTD) | YTD YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 185,637,818.84 | 6.34% | 531,655,545.54 | 3.64% | | Net Profit Attributable to Shareholders (Yuan) | 11,570,050.54 | -22.02% | 38,779,102.98 | -16.21% | | Net Profit Attributable to Shareholders (Excl. Non-recurring Items) (Yuan) | 10,968,107.01 | -4.91% | 32,183,776.35 | -19.26% | | Net Cash Flow from Operating Activities (Yuan) | - | - | -16,433,433.12 | -172.32% | | Basic Earnings Per Share (Yuan/Share) | 0.0334 | -41.61% | 0.1121 | -37.13% | | Weighted Average Return on Equity | 0.84% | -0.67% | 2.80% | -1.99% | Key Balance Sheet Indicators at the End of the Reporting Period | Indicator | End of Current Period | End of Prior Year | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 1,872,610,586.14 | 1,775,053,582.60 | 5.50% | | Equity Attributable to Shareholders (Yuan) | 1,403,230,381.33 | 1,367,911,278.35 | 2.58% | [Non-recurring Profit and Loss Items and Amounts](index=2&type=section&id=%E4%B8%80%E3%80%81(%E4%BA%8C)%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) Year-to-date non-recurring profit and loss totaled ¥6.60 million, primarily driven by government subsidies of ¥8.47 million Non-recurring P&L Items for the Year-to-Date Period | Item | YTD Amount (Yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -280,986.67 | | Government Subsidies Included in Current P&L | 8,470,323.66 | | Other Non-operating Income/Expenses and Fair Value Changes | -288,626.49 | | Less: Income Tax Impact | 1,305,383.87 | | **Total** | **6,595,326.63** | [Changes in Key Financial Indicators and Reasons](index=2&type=section&id=%E4%B8%80%E3%80%81(%E4%B8%89)%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) Net cash flow from operating activities dropped 172.32% due to increased procurement payments, while EPS fell over 37% from lower profits and share dilution - Net cash flow from operating activities **decreased by 172.32% YoY**, shifting from a net inflow of ¥22.72 million to a net outflow of ¥16.43 million, mainly due to increased payments for raw materials amid rising prices and tight supply[8](index=8&type=chunk) - Basic and diluted earnings per share **decreased by 37.13% YTD** and **41.61% in Q3**, primarily due to lower profits from rising raw material costs and an increased share count following the IPO[8](index=8&type=chunk)[9](index=9&type=chunk) [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) The company's shareholder base includes 25,429 holders with a relatively concentrated ownership structure, and a significant portion of pre-IPO restricted shares were released during the period [Shareholder Holdings](index=3&type=section&id=%E4%BA%8C%E3%80%81(%E4%B8%80)%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 period end, the company had 25,429 common shareholders, with a concentrated ownership structure among the top ten holders - The total number of common shareholders was **25,429** at the end of the reporting period[11](index=11&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | | Zhang Yunxue | 12.39% | 42,875,000 | | Shanghai Long'erli Investment Development Co., Ltd. | 12.14% | 42,000,000 | | Chuzhou Junyuan Venture Capital Center (Limited Partnership) | 10.18% | 35,222,100 | | Xu Longping | 5.91% | 20,433,900 | | Shanghai Jinpu National Restructuring M&A Equity Investment Fund Partnership | 5.85% | 20,250,000 | - Shareholders Xu Longping and Zhang Yunxue have signed a Concerted Action Agreement, and Shanghai Long'erli Investment Development Co., Ltd. is controlled by Xu Longping[12](index=12&type=chunk) [Changes in Restricted Shares](index=4&type=section&id=%E4%BA%8C%E3%80%81(%E4%B8%89)%E9%99%90%E5%94%AE%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Approximately 150 million pre-IPO restricted shares were released during the period, reducing the total number of restricted shares from 259.5 million to 109.3 million Overview of Changes in Restricted Shares | Item | Number of Shares (shares) | | :--- | :--- | | Restricted Shares at Beginning of Period | 259,500,000 | | Shares Released from Restriction This Period | 150,165,850 | | Restricted Shares Added This Period | 0 | | Restricted Shares at End of Period | 109,334,150 | - The shares released from restriction this period were primarily pre-IPO shares, with a scheduled release date of September 13, 2021[14](index=14&type=chunk)[15](index=15&type=chunk) [Other Important Matters](index=5&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 advanced capital raising and business expansion initiatives, including a convertible bond issuance plan and the establishment of a new subsidiary - The company's proposal for a public issuance of convertible corporate bonds was approved by the Board of Directors and the shareholders' meeting in August and September 2021, respectively[16](index=16&type=chunk) - A new holding subsidiary established in Xinxiang, Henan, completed its business registration in September 2021[16](index=16&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) The financial statements show a 5.5% increase in total assets driven by construction in progress, while profitability was eroded by rising costs, and cash flow was strained by operating and investment activities [Consolidated Balance Sheet](index=5&type=section&id=%E5%9B%9B%E3%80%81(%E4%B8%80)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 grew 5.50% to ¥1.87 billion, driven by a significant increase in construction in progress, while total liabilities also rose Key Balance Sheet Items (Unit: Yuan) | Item | September 30, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **1,872,610,586.14** | **1,775,053,582.60** | **+5.50%** | | Prepayments | 103,954,504.26 | 72,641,721.77 | +43.11% | | Inventories | 347,436,851.15 | 264,164,564.13 | +31.52% | | Construction in Progress | 192,893,753.92 | 26,603,313.54 | +625.07% | | **Total Liabilities** | **469,380,204.81** | **407,142,304.25** | **+15.29%** | | Short-term Borrowings | 323,013,610.70 | 269,300,950.01 | +19.95% | | Long-term Borrowings | 46,122,777.04 | 0.00 | - | | **Total Equity Attributable to Parent Company** | **1,403,230,381.33** | **1,367,911,278.35** | **+2.58%** | [Consolidated Income Statement (Year-to-Date)](index=8&type=section&id=%E5%9B%9B%E3%80%81(%E4%B8%80)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) For the first three quarters of 2021, revenue grew 3.64% to ¥532 million, but net profit fell 16.21% as cost of sales outpaced revenue growth Key Income Statement Items (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 531,655,545.54 | 512,967,459.44 | +3.64% | | Cost of Sales | 426,616,991.44 | 379,704,716.32 | +12.35% | | R&D Expenses | 26,262,978.08 | 24,311,232.19 | +8.03% | | Total Profit | 41,417,877.15 | 51,649,464.73 | -19.81% | | Net Profit | 38,779,102.98 | 46,278,854.18 | -16.21% | | Basic Earnings Per Share | 0.1121 | 0.1783 | -37.13% | [Consolidated Cash Flow Statement (Year-to-Date)](index=10&type=section&id=%E5%9B%9B%E3%80%81(%E4%B8%80)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) The company faced significant cash flow pressure in the first three quarters of 2021, with operating activities turning to a net outflow and investment outflows increasing sharply Key Cash Flow Statement Items (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -16,433,433.12 | 22,723,135.89 | | Net Cash Flow from Investing Activities | -97,641,119.00 | -13,999,746.09 | | Net Cash Flow from Financing Activities | 87,228,542.09 | 455,966,462.59 | | Net Increase in Cash and Cash Equivalents | -26,811,958.50 | 464,643,070.01 | - Cash outflow from investing activities was primarily driven by **¥183 million** paid for fixed assets and other long-term assets and **¥36 million** for the acquisition of a subsidiary[27](index=27&type=chunk) - Cash inflow from financing activities mainly came from **¥329 million** in new borrowings, while outflows were primarily for the repayment of **¥229 million** in debt[27](index=27&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 346,017,726.70, representing a 2.25% increase compared to RMB 338,389,396.14 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 13.46% to RMB 27,209,052.44 from RMB 31,440,723.35 year-on-year[21]. - The net profit after deducting non-recurring gains and losses fell by 24.75% to RMB 21,215,669.34 compared to RMB 28,194,267.30 in the previous year[21]. - The net cash flow from operating activities was RMB 20,843,065.19, down 52.48% from RMB 43,862,436.47 in the same period last year[21]. - The basic earnings per share decreased by 35.15% to RMB 0.0786 from RMB 0.1212 in the same period last year[21]. - The company's total comprehensive income for the first half of 2021 was CNY 27,209,052.44, compared to CNY 31,440,723.35 in the first half of 2020, indicating a decrease of 13.4%[168]. - The total operating costs for the first half of 2021 were CNY 180,435,393.88, which is an increase of 10.0% from CNY 164,052,485.76 in the first half of 2020[168]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 1,851,370,231.39, an increase of 4.30% from RMB 1,775,053,582.60 at the end of the previous year[22]. - The total liabilities of the company were CNY 420,561,395.10, compared to CNY 374,051,489.99 at the end of 2020, indicating an increase of about 12.4%[156]. - The company's total equity attributable to the parent company increased to CNY 1,221,429,189.39 as of June 30, 2021, from CNY 1,202,604,682.86 at the end of 2020, showing a growth of approximately 1.6%[161]. Research and Development - Research and development expenses rose by 22.16% to ¥16,266,731.38, up from ¥13,315,450.53, indicating a significant increase in investment in R&D[59]. - The company has successfully passed multiple certifications, including HACCP, SA8000, FSC, ISO9001, ISO14001, BRC, ISO45001, and ISO22000, establishing stable business relationships with well-known domestic and international clients[30]. - The company has developed core technologies and independent intellectual property rights in areas such as corrugated structure and water-based high-definition printing, leading to lightweight and high-strength products that reduce costs for customers[39]. Market Position and Strategy - The company aims to transition from being a manufacturer to a packaging solution provider, offering comprehensive services from design to delivery, thereby enhancing customer relationships and profitability[48]. - The domestic paper packaging market is experiencing a shift towards high-end products, with increasing demand for lightweight, high-strength corrugated boxes from downstream consumer goods manufacturers[44]. - The company is positioned to benefit from the growing trend of green packaging, as regulations like the "plastic limit order" are expected to reduce the market share of plastic packaging in favor of paper packaging[43]. Operational Efficiency - The company has implemented a mature procurement system, ensuring that raw materials meet quality and cost requirements, with a focus on corrugated paper, ink, and other essential materials[33]. - The production cycle for the company's products typically ranges from 1 to 5 days, allowing for a strong response to customer orders[35]. - The company's automated production lines have improved production efficiency, allowing for quick responses to diverse customer orders, thus enhancing operational efficiency[55]. Environmental and Compliance - The company has established a comprehensive environmental management system and has passed the ISO 14001:2015 certification[104]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[102]. - The company maintains compliance with labor laws and regulations, ensuring employee rights protection[104]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,056[139]. - The largest shareholder, Zhang Yunxue, has no pledged, marked, or frozen shares[139]. - The company’s total share capital increased to 346,000,000 shares after the initial public offering[135]. Financial Management - The company reported a significant reliance on raw materials, with direct material costs accounting for approximately 80% of the main business costs during the reporting period[90]. - The company plans to enhance its marketing and service network to improve order conversion rates and strengthen its market brand position[89]. - The company has committed to invest RMB 10,000 million in the expansion of intelligent high-efficiency printing and molding lines, with a progress rate of 25.33% as of June 30, 2021[77].