安徽华业香料股份有限公司 2021 年第三季度报告 证券代码：300886 证券简称：华业香料 公告编号：2021-058 安徽华业香料股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 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 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 增减 | 年同期增减 | | | 营业收入（元） | 50,295,708.34 | 13.90% | 172,560,872.40 | 8.78% | | 归属于上市公司股东 的净利润（元） | 4,710,235.84 | -60.74% | 18,966,285.37 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥122,265,164.06, representing a 6.81% increase compared to ¥114,473,896.09 in the same period last year[18]. - The net profit attributable to shareholders decreased by 43.04% to ¥14,256,049.53 from ¥25,030,045.93 year-on-year[18]. - The net profit after deducting non-recurring gains and losses fell by 44.73% to ¥11,630,255.86 compared to ¥21,041,364.38 in the previous year[18]. - Basic earnings per share dropped by 57.30% to ¥0.1912 from ¥0.4478 year-on-year[18]. - The company's revenue for the reporting period was ¥122,265,164.06, representing a year-on-year increase of 6.81% due to higher sales volume[39]. - The total profit for the first half of 2021 was CNY 16.17 million, down 42.73% from CNY 28.32 million in the first half of 2020[161]. - The company's operating profit for the first half of 2021 was CNY 16.27 million, a decrease of 42.38% from CNY 28.43 million in the same period of 2020[161]. - The total comprehensive income for the first half of 2021 was CNY 14.26 million, down from CNY 25.03 million in the first half of 2020, a decrease of 43.06%[161]. Cash Flow - The net cash flow from operating activities surged by 1,285.61% to ¥22,189,676.23, up from ¥1,601,438.38 in the same period last year[18]. - The cash flow from operating activities in the first half of 2021 was CNY 116.20 million, compared to CNY 102.73 million in the first half of 2020, representing an increase of 13.06%[166]. - The company reported a net cash flow from investment activities of -¥15,829,996.92, worsening from -¥12,678,316.62 year-on-year, primarily due to increased investment expenditures[168]. - The cash balance at the end of the period was ¥150,083,923.71, down from ¥32,223,696.56, indicating a decrease in liquidity[169]. Assets and Liabilities - Total assets at the end of the reporting period were ¥554,288,857.44, a 1.18% increase from ¥547,813,965.43 at the end of the previous year[18]. - The company's total current assets as of June 30, 2021, amount to 344,605,709.07 RMB, compared to 334,619,079.10 RMB at the end of 2020, reflecting an increase of approximately 0.29%[151]. - Total liabilities increased to CNY 24,643,520.29, compared to CNY 22,620,803.57 at the end of 2020, indicating a growth of 9.0%[157]. - The cash and cash equivalents decreased to CNY 89,883,807.00 from CNY 127,535,022.63 at the end of 2020, indicating a decline of 29.5%[155]. Research and Development - Research and development investment rose by 43.33% to ¥5,570,369.38, reflecting the company's commitment to enhancing innovation capabilities[40]. - New product development efforts are focused on innovative flavoring solutions, with an investment of 100 million CNY allocated for R&D in 2021[96]. - Research and development expenses rose to CNY 5,570,369.38, reflecting a 43.4% increase from CNY 3,886,439.96 in the first half of 2020[158]. Market and Sales - Domestic product sales volume increased by 20.10% compared to the previous year, with domestic sales revenue growing by 18.01%[31]. - Sales volume of the butyrolactone series products increased by 128.99%, and sales revenue grew by 107.66% compared to the same period last year[31]. - Approximately 70% of the company's products are exported, establishing stable business relationships with international companies such as Procter & Gamble and Firmenich[30]. Environmental and Regulatory Compliance - The company has implemented advanced environmental protection technologies, ensuring compliance with pollution control standards[36]. - The company has established a comprehensive safety production management system to mitigate risks associated with the handling of hazardous materials[67]. - The company has been recognized as an environmentally credible enterprise in Anhui Province for 2020, adhering to strict environmental credit evaluation standards[85]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held its annual shareholder meeting with a participation rate of 74.99% on April 23, 2021[74]. - The company has experienced changes in its board of directors, with several new appointments made on January 5, 2021[75]. Future Outlook - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 25% based on anticipated market expansion and new product launches[97]. - The company plans to focus on future growth strategies despite the uncertainties posed by the pandemic[70]. - The company aims to improve its supply chain logistics, with a projected cost reduction of 10% by optimizing distribution channels[97].

Revenue and Profitability - The company's revenue for Q1 2021 was ¥52,705,368.73, representing a 16.59% increase compared to ¥45,204,802.11 in the same period last year[8]. - Net profit attributable to shareholders decreased by 26.82% to ¥6,161,342.30 from ¥8,419,145.79 year-on-year[8]. - The company achieved operating revenue of 52.71 million yuan in Q1 2021, an increase of 16.59% year-on-year and 11.21% quarter-on-quarter[22]. - Net profit attributable to ordinary shareholders was 6.16 million yuan, a decrease of 26.82% year-on-year but an increase of 93.12% quarter-on-quarter[22]. - The total operating revenue for Q1 2021 was CNY 52,705,368.73, an increase of 16.5% compared to CNY 45,204,802.11 in Q1 2020[42]. - The net profit for Q1 2021 was CNY 6,161,342.30, a decrease of 26.8% from CNY 8,419,145.79 in Q1 2020[44]. - The total comprehensive income for the period was CNY 4,914,680.50, down from CNY 9,558,306.79 in the previous period[49]. Cash Flow - The net cash flow from operating activities surged by 16,313.25% to ¥13,291,876.11, compared to ¥80,982.58 in the previous year[8]. - The net cash flow from operating activities was CNY 13,291,876.11, a significant increase from CNY 80,982.58 in the previous period[52]. - Total cash inflow from operating activities reached ¥58,843,394.06, up from ¥50,385,304.11 in Q1 2020, reflecting a year-over-year increase of approximately 29.0%[55]. - Cash outflow for purchasing goods and services decreased to ¥26,381,033.98 from ¥32,529,018.15, representing a reduction of about 19.0%[55]. - The company reported a net cash outflow from investing activities of ¥10,279,838.00, which is a decline from a smaller outflow of ¥109,306.00 in the previous year[56]. - The ending balance of cash and cash equivalents increased to ¥131,421,555.55, compared to ¥39,521,135.74 at the end of Q1 2020, marking a substantial increase of approximately 233.0%[56]. Assets and Liabilities - Total assets increased by 2.26% to ¥560,173,184.62 from ¥547,813,965.43 at the end of the previous year[8]. - The total assets as of March 31, 2021, amounted to CNY 560,173,184.62, an increase from CNY 547,813,965.43 on December 31, 2020[34]. - Current assets totaled CNY 349,171,359.47, compared to CNY 334,619,079.10 at the end of 2020, reflecting a growth of approximately 4.2%[34]. - Total liabilities were CNY 37,378,413.33, up from CNY 31,990,780.37, marking an increase of about 16.5%[36]. - The total liabilities as of March 31, 2021, were CNY 34,178,968.14, compared to CNY 22,620,803.57 at the end of 2020, indicating a significant increase[40]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,914, with the top ten shareholders holding a significant portion of the shares[12]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[13]. Research and Development - Research and development expenses increased by 76.20% to 3.00 million yuan, reflecting heightened investment following the launch of Hefei Huaye[20]. - The research and development expenses for Q1 2021 were CNY 3,001,432.44, which is an increase of 76.2% compared to CNY 1,703,444.64 in Q1 2020[43]. - Research and development expenses increased to CNY 1,939,266.58, up 35% from CNY 1,437,374.67 in the previous period[47]. Government Subsidies - The company received government subsidies amounting to ¥1,175,732.16 during the reporting period, which significantly contributed to its financial performance[9]. Other Financial Metrics - Basic and diluted earnings per share fell by 45.15% to ¥0.1074 from ¥0.1958 in the same period last year[8]. - The weighted average return on equity decreased to 1.19% from 3.29% year-on-year, a decline of 2.10%[8]. - The company's equity remained stable at CNY 57,350,000.00, with capital reserves unchanged at CNY 243,843,022.81[36]. - The company has no violations regarding external guarantees during the reporting period[28]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[29]. - The company has not conducted any research, communication, or interview activities during the reporting period[30].

Financial Performance - The company's operating revenue for 2020 was CNY 206,021,034.71, a decrease of 4.09% compared to CNY 214,814,811.76 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 40,217,022.85, down 12.12% from CNY 45,761,901.12 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 22,524,546.68, a significant decline of 44.51% compared to CNY 40,590,232.19 in 2019[16]. - The net cash flow from operating activities was CNY 11,158,117.40, representing an 81.82% decrease from CNY 61,365,210.29 in 2019[16]. - The total assets at the end of 2020 reached CNY 547,813,965.43, an increase of 42.44% from CNY 384,594,202.14 at the end of 2019[16]. - The net assets attributable to shareholders increased by 105.32% to CNY 515,823,185.06 from CNY 251,225,197.39 in 2019[16]. - The basic earnings per share for 2020 were CNY 0.8633, down 18.88% from CNY 1.0642 in 2019[16]. - The weighted average return on net assets was 12.30%, a decrease of 7.52% from 19.82% in the previous year[16]. - The company achieved operating revenue of 206.02 million yuan, a year-on-year decrease of 4.09%, and a net profit attributable to shareholders of 40.22 million yuan, down 12.12%[47]. - The company reported a total investment of CNY 4,500,000, unchanged from the previous year, indicating stable investment activity[82]. Dividend Policy - The company plans to distribute a cash dividend of CNY 2 per 10 shares, based on a total of 57,350,000 shares[5]. - The cash dividend distributed in 2020 represents 28.52% of the net profit attributable to the company's ordinary shareholders, which was RMB 40,217,022.85[124]. - The total distributable profit for the year was RMB 184,629,112.42, with the cash dividend amounting to 100% of the profit distribution[120]. - The company has a clear and transparent cash dividend policy that complies with its articles of association and shareholder resolutions[120]. - The company has not made any adjustments to its cash dividend policy during the reporting period[120]. Market and Industry Overview - The company primarily engages in the research, production, and sales of lactone series synthetic flavors, being the largest producer in China[24]. - The main products include γ-Butyrolactone and δ-Valerolactone, widely used in food, daily chemicals, feed, and tobacco industries[25]. - The flavor and fragrance industry is characterized by strong cyclicality, closely tied to macroeconomic cycles and the performance of downstream industries such as food and beverage, daily chemicals, and tobacco[32]. - The domestic flavor and fragrance market is in a growth phase, with China's market share reaching approximately 20% of the global industry[31]. - The demand for flavoring agents in the food and beverage industry is driven by the increasing disposable income and consumption upgrades in China[98]. - The daily chemical industry is expected to see further growth in demand for flavoring agents due to rising living standards[100]. - The tobacco industry relies on flavoring agents to enhance cigarette quality and mask raw material defects, indicating a stable market demand[101]. - The feed industry is experiencing rapid growth, with the total industrial feed output expected to reach 220 million tons by the end of the 13th Five-Year Plan[102]. Research and Development - R&D investment for the year was 10.30 million yuan, accounting for 5% of operating revenue, with a steady increase in the proportion of R&D investment[51]. - The company completed the R&D of natural peach aldehyde, natural coconut aldehyde, and natural decanol, with plans to launch these products in 2021, which are expected to become new growth points[52]. - The company has obtained a total of 52 patent certificates by the end of 2020, enhancing its competitive edge in the industry[54]. - The number of R&D personnel increased to 39 in 2020, accounting for 16.05% of the total workforce[74]. - The company reported a significant increase in the number of new product development initiatives, focusing on solid acid catalysts and various flavor compounds[73]. Production and Operations - The company operates three types of workshops: propylene lactone workshop, butyrolactone workshop, and a comprehensive workshop for product processing and packaging[28]. - The company maintains a stable pricing policy for its products, consistent across direct sales and distribution channels[29]. - The company employs a batch procurement strategy to maintain appropriate inventory levels, ensuring quality control through inspection upon receipt[27]. - The company has established long-term stable partnerships with qualified suppliers for raw material procurement, enhancing supply chain reliability[27]. - The company has a production scale of over 4,000 tons for its lactone series products, making it the largest producer in the domestic market[43]. Environmental and Safety Management - The company has implemented a comprehensive occupational health management system, conducting health checks for all employees exposed to occupational hazards[178][179]. - The company has not experienced any significant safety production accidents in 2020 and has not faced administrative penalties due to safety issues[174]. - The company has established a safety responsibility system, ensuring accountability at all levels of the organization[176]. - The company has committed to environmental protection and has implemented measures to comply with national standards for pollutant emissions[107]. - The company has a wastewater treatment capacity of 1,200 tons per day and has built an 800m³ accident water pool[186]. Strategic Initiatives - The company is actively expanding its market presence in Europe and the United States, aiming to increase market share of its leading products[50]. - The company is currently constructing a project to produce 3,000 tons/year of butyrolactone series synthetic flavors[60]. - The company is considering potential acquisitions to diversify its product offerings, with a budget of 300 million RMB allocated for this purpose[132]. - A strategic acquisition of a local spice manufacturer is expected to be finalized in Q2 2021, which will enhance production capacity by 40%[128]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in sales from this region by the end of 2021[128]. Shareholder Commitments - The controlling shareholder remains optimistic about the company's and industry’s development prospects and is willing to hold shares long-term[129]. - The shareholder commits to not transferring shares within 12 months of the company's stock listing and will adhere to legal regulations regarding share transfers[129]. - The company has committed to not transferring or entrusting the management of its shares for twelve months following the stock listing[130]. - The company will ensure that any share reductions after the lock-up period will not be below 120% of the latest audited net asset value per share[130]. - The company has committed to strictly fulfill all public commitments made during the initial public offering process on the Growth Enterprise Market[138]. Compliance and Governance - The company has confirmed that it will comply with laws and regulations regarding the obligations of controlling shareholders[140]. - The company has not reported any non-standard audit reports for the current period[142]. - The company has not made any profit forecasts for assets or projects during the reporting period[141]. - The company has not engaged in any related party transactions during the reporting period[151]. - The company has established a stable profit distribution policy and dividend plan to actively return profits to shareholders[168].

Financial Performance - Operating revenue for the current period was CNY 44,156,362.10, a 3.88% increase year-on-year[7] - Net profit attributable to shareholders for the current period was CNY 11,996,501.05, a 6.76% increase year-on-year[7] - Basic earnings per share for the current period was CNY 0.2790, a 6.77% increase year-on-year[7] - The company's operating revenue for Q3 2020 was CNY 48,957,011.12, an increase from CNY 42,465,061.43 in the previous period[37] - The net profit for Q3 2020 reached CNY 11,996,501.05, compared to CNY 11,236,714.88 in the same period last year, reflecting a growth of approximately 6.8%[35] - The total profit for Q3 2020 was CNY 13,617,935.45, an increase from CNY 12,845,022.31 in the previous period[34] - The total profit for the year-to-date period reached CNY 41,935,103.58, compared to CNY 38,855,082.84 in the previous year[41] - The net profit attributable to the parent company was ¥40,022,636.30, representing a growth of 7.4% from ¥37,280,834.77 in the same period last year[46] Assets and Liabilities - Total assets increased by 63.07% to CNY 627,150,460.82 compared to the end of the previous year[7] - Total liabilities decreased to CNY 45,933,455.67 from CNY 49,348,204.45[30] - The total assets increased to ¥627,150,460.82, up from ¥384,594,202.14, reflecting overall growth in the company's financial position[25] - Total liabilities amounted to CNY 133,369,004.75, with non-current liabilities totaling CNY 71,022,175.50[58] - The total equity attributable to shareholders reached CNY 251,225,197.39, while total equity was CNY 251,225,197.39[58] Cash Flow - The net cash flow from operating activities was negative at CNY -8,684,509.99, a decrease of 136.33% compared to the same period last year[7] - Net cash flow from operating activities dropped by 117.11% to -¥7,083,071.61, mainly due to increased inventory for the Hefei Phase I project[16] - The cash flow from operating activities showed a net outflow of ¥7,083,071.61, a significant decrease compared to a net inflow of ¥41,395,558.51 in the previous period[49] - The net cash flow from financing activities was ¥220,913,743.00, a significant improvement from -¥4,162,753.59, reflecting successful fundraising through share issuance[16] - The company received cash inflow from financing activities totaling 260,579,275.19, significantly higher than 54,368,228.46 in the previous period[50] Expenses - Sales expenses decreased by 67.58% to ¥1,564,832.25, due to the adjustment of freight costs to operating costs under new revenue standards[15] - Financial expenses surged by 1320.51% to ¥1,895,385.03, primarily due to increased interest expenses and reduced foreign exchange gains[15] - The company reported a financial expense of CNY 1,895,385.03 for the current period, significantly higher than CNY 133,429.61 in the previous year[41] - The total operating costs increased to ¥126,620,408.19 from ¥93,525,797.33, reflecting a rise of 35.4%[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,935[11] - Owner's equity increased significantly to CNY 525,139,877.93 from CNY 261,426,922.95[30] Government Support - Government subsidies recognized in the current period amounted to CNY 12,857,887.50, primarily related to business operations[9] - Other income rose by 42.26% to ¥8,535,287.50, driven by increased government grants received[15] Research and Development - Research and development expenses rose to CNY 2,295,607.45 from CNY 1,646,007.15[33] - Research and development expenses for Q3 2020 amounted to CNY 1,882,160.34, compared to CNY 1,467,733.79 in the previous year, showing an increase of about 28.2%[37]