Financial Performance - The company's revenue for Q1 2021 was ¥177,232,088.07, representing a 58.01% increase compared to ¥112,163,850.63 in the same period last year[9]. - Net profit attributable to shareholders was ¥27,466,775.36, an increase of 85.07% from ¥14,841,040.03 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was ¥26,794,592.21, showing a 99.89% increase compared to ¥13,404,366.87 in the previous year[9]. - The basic earnings per share rose to ¥0.38, up 72.73% from ¥0.22 in the same period last year[9]. - The company achieved operating revenue of CNY 177,232,088.07, representing a year-on-year growth of 58.01%[26]. - The net profit attributable to shareholders reached CNY 27,466,775.36, an increase of 85.07% compared to the previous year[24]. - The company experienced a substantial increase in operating profit, which reached CNY 33,780,554.93, a growth of 79.41%[23]. - Total operating revenue for Q1 2021 was CNY 177,232,088.07, an increase of 58.0% compared to CNY 112,163,850.63 in the same period last year[50]. - Net profit for Q1 2021 reached CNY 27,466,775.36, representing a 84.6% increase from CNY 14,841,040.03 in Q1 2020[52]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,389,136,188.61, a 2.51% increase from ¥1,355,129,036.70 at the end of the previous year[9]. - The total liabilities increased from CNY 100,559,172.24 on December 31, 2020, to CNY 107,099,548.79 on March 31, 2021, representing an increase of approximately 6.06%[44]. - The total equity attributable to the parent company increased from CNY 1,254,569,864.46 on December 31, 2020, to CNY 1,282,036,639.82 on March 31, 2021, reflecting an increase of approximately 2.19%[45]. - The total assets as of March 31, 2021, amounted to CNY 1,389,136,188.61, compared to CNY 1,355,129,036.70 on December 31, 2020, showing an increase of approximately 2.51%[43]. Cash Flow - The net cash flow from operating activities was negative at -¥53,090,869.12, a significant decrease of 1,495.75% compared to ¥3,803,746.35 in the same period last year[9]. - The company's cash and cash equivalents decreased from CNY 874,148,049.99 on December 31, 2020, to CNY 786,257,627.57 on March 31, 2021, representing a decrease of approximately 10.03%[42]. - The company reported a net cash flow from operating activities of -¥53,090,869.12, a decline from a positive cash flow of ¥3,803,746.35 in the previous period[59]. - Cash and cash equivalents at the end of the period totaled ¥773,408,927.57, down from ¥867,067,749.99 at the beginning of the period, a decrease of about 10.8%[60]. Research and Development - Research and development expenses surged by 85.15% to CNY 4,900,096.19, indicating increased investment in R&D[23]. - The company is continuing the development of several key R&D projects, including a full-spectrum color functional composite masterbatch aimed at reducing energy consumption and wastewater generation[27]. - The company is also developing a smart color management system to improve color matching efficiency and reduce resource waste[27]. - Research and development expenses for Q1 2021 were CNY 4,900,096.19, compared to CNY 2,646,537.89 in Q1 2020, indicating a significant investment in innovation[51]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,533[13]. - The sales amount from the top five customers reached 60,853,191.63 yuan, accounting for 34.34% of total revenue, an increase from 33.69% in the same period last year[29]. - The procurement amount from the top five suppliers was 62,991,728.44 yuan, making up 44.03% of total procurement, up from 21.76% year-on-year[28]. Operational Status - The company has maintained normal production operations, executing its annual business plan without disruptions[30]. - There are no significant risks or difficulties affecting the company's future operations reported during the period[30]. - The company has not experienced significant changes in its core competitiveness or key technical personnel during the reporting period[28]. Fund Management - The total amount of idle raised funds as of March 31, 2021, is CNY 618,104,483.10, which will be used strictly according to the planned purposes[33]. - The total amount of funds raised by the company is 81,190.87 million yuan, with 7,297.56 million yuan invested in the current quarter[32]. - The cumulative amount of raised funds invested to date is 19,789.96 million yuan, representing 24.4% of the total raised funds[32].

Financial Performance - The company's operating revenue for 2020 was ¥671,281,713.76, a decrease of 5.73% compared to ¥712,049,274.06 in 2019[17]. - Net profit attributable to shareholders for 2020 was ¥104,391,622.97, an increase of 3.71% from ¥100,658,332.97 in 2019[17]. - The net cash flow from operating activities decreased by 13.90% to ¥61,460,673.10 in 2020 from ¥71,381,584.41 in 2019[17]. - The total assets at the end of 2020 reached ¥1,355,129,036.70, representing a 202.41% increase from ¥448,115,419.98 at the end of 2019[17]. - The net assets attributable to shareholders increased by 233.60% to ¥1,254,569,864.46 at the end of 2020 from ¥376,069,571.29 at the end of 2019[17]. - The basic earnings per share for 2020 was ¥1.83, a decrease of 1.61% from ¥1.86 in 2019[17]. - The company reported a total of ¥7,056,286.57 in non-recurring gains and losses for 2020, compared to ¥5,141,746.00 in 2019[24]. - The total operating revenue for 2020 was 671.28 million yuan, a decrease of 5.73% compared to 712.05 million yuan in 2019[51]. - The net profit for 2020 was 104 million yuan, reflecting a year-on-year increase of 3.81%[47]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 10 RMB per 10 shares (including tax) based on a base of 72,000,000 shares, with no bonus shares issued[10]. - The cash dividend distribution plan for 2020 was set at RMB 10 per 10 shares, totaling RMB 72,000,000.00, which represents 68.97% of the net profit attributable to shareholders[96]. - The company has a cumulative undistributed profit of RMB 218,457,241.96 as of December 31, 2020[94]. - The total cash dividend for the reporting period, including other methods, was RMB 72,000,000.00, representing 100% of the total distributable profit[93]. - The company has maintained a consistent cash dividend policy, with the 2020 distribution being fully compliant with its articles of association[93]. Technological Innovation and R&D - The company emphasized the importance of continuous technological innovation to meet increasing customer demands in the fiber masterbatch industry, which is crucial for maintaining profitability[8]. - The company has accumulated multiple core technologies and patents, which are essential for its stable growth and competitive advantage[8]. - The company focuses on customer demand-driven research and development, adjusting product formulations based on market analysis[28]. - The company’s research and development efforts led to the successful development of over ten types of specialty fiber masterbatches, including energy-storing luminescent and antibacterial variants[28]. - Research and development investment for the year totaled approximately 16.85 million yuan, an increase of 16.17% year-on-year[47]. - The company is continuing the development of high-performance functional fibers, which include flame retardant and antibacterial properties, to meet market demand[63]. - The company aims to develop a smart color management system to improve color matching efficiency and reduce resource waste in the production process[63]. Market and Sales Performance - The company experienced a steady increase in fiber masterbatch sales from 2017 to 2020, driven by the growing demand in the downstream chemical fiber industry[9]. - The company reported that the demand for fiber masterbatch is expected to continue growing, supported by the gradual replacement of traditional dyeing techniques by liquid coloring technology[9]. - In 2020, the company achieved a product sales volume of 44,300 tons, representing a year-on-year increase of 6.97%[47]. - The revenue from functional masterbatches increased by 74.57% year-on-year, reaching 66.14 million yuan[51]. - The company maintains a leading position in the fiber masterbatch industry, benefiting from the rapid development of the chemical fiber sector in China[32]. Risks and Challenges - The company faced risks related to raw material price fluctuations, as the cost of materials like PET and PBT accounted for a significant portion of the main business costs[9]. - The company highlighted the potential impact of macroeconomic fluctuations on its operations, particularly due to the close relationship between its products and the textile industry[9]. - The company is aware of the risks associated with future plans and projections, advising investors to maintain a sufficient level of risk awareness[8]. - The company has identified risks including technological innovation risks, core technology leakage risks, and raw material price volatility risks that could impact its financial performance[88]. Corporate Governance and Management - The company has established a governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws[132]. - The company has a clear and stable management team, with no significant adverse changes in the last two years[198]. - The company has a focus on expanding its market presence and enhancing product development capabilities[170]. - The company aims to improve its corporate governance and talent structure to support future growth initiatives[165]. - The company has a transparent performance evaluation system for senior management, focusing on annual performance, innovation, and value creation[191]. Shareholder and Stock Information - The company completed its initial public offering (IPO) of 18 million shares at a price of 49.32 RMB per share, increasing total shares from 54 million to 72 million[141]. - Major shareholders include Xu Wenda with 19,131,113 shares and Suzhou Juxingbao with 16,358,879 shares, both subject to lock-up until November 4, 2023[146]. - The company has 18 million unrestricted shares, representing 25% of the total shares post-IPO[141]. - The total number of shareholders increased to 17,770 by the end of the reporting period[150]. - The company’s total share capital increased by 33.33% following the IPO, resulting in a dilution of earnings per share and net assets per share[143]. Social Responsibility and Compliance - The company actively engages in social responsibility, including donations of medical masks during the pandemic and support for charitable projects[136]. - The company has not been penalized for environmental violations and adheres to national environmental protection laws[137]. - The company emphasizes the importance of social responsibility while balancing the interests of shareholders, employees, and society[192].