证券代码：300920 证券简称：润阳科技 浙江润阳新材料科技股份有限公司 投资者关系活动记录表 编号：2021-001 | --- | --- | --- | |----------------|-------------------------------------|--------------------------------------------------------------| | | | | | 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 | （请文字说明其他活动内容） | | 参与单位名称及 | 安信证券：乔璐 | | | 人员姓名 | 东吴证券：柴沁虎 | | | | 东北证券：孙伟 | | | | 中泰证券：张波 | | | | | 上海博观投资管理有限公司：卢鑫 | | 时间 | 2021 年 1 月 8 日 | 14：30 | | 地点 | | 浙江润阳新材料科技股份有限公司综合楼 2 楼 3 号会议室 | | 上市公司接待 ...

证券代码：300920 证券简称：润阳科技 浙江润阳新材料科技股份有限公司 投资者关系活动记录表 编号：2021-002 | --- | --- | --- | |----------|--------------------------------|----------------------------------------------------------------------------| | | | | | 投资者关 | √ 特定对象调研 | □ 分析师会议 | | 系活动类 | □ 媒体采访 □ | 业绩说明会 | | 别 | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | （请文字说明其他活动内容） | | 参与单位 | 国泰君安资管：蒋文超 | | | 名称及人 | 中信建投基金：孙伯文 | | | 员姓名 | 太平洋证券：柳强 | | | | 安信证券：乔璐 | | | | 东北证券：李旋坤 | | | | 上投摩根基金：冯自力 | | | | 北京玺睿投资：邱理想 | | | | 亘曦资产：袁胜钊 | | | | 上海博观投资管理有限公司：卢 ...

证券代码：300920 证券简称：润阳科技 浙江润阳新材料科技股份有限公司 投资者关系活动记录表 编号：2021-003 | --- | --- | --- | |-------------------------|---------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------| | | | | | | 特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | | 调研活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他 （电话会议） | | | | 天风证券：马萤、尉鹏洁 | | | 参与单位名称及 人员姓名 | 上海承周资产：漆启焱 广发自营：刘夕黎 | | | 时间 2021 | 年 9 月 8 日下午 | 2 点 | | | 地点 浙江省杭州市萧 ...

证券代码：300920 证券简称：润阳科技 | --- | --- | --- | --- | --- | |-------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------| | | | | 编号： | 2022-01 | | | ...

证券代码：300920 证券简称：润阳科技 浙江润阳新材料科技股份有限公司 投资者关系活动记录表 编号：2022-02 | --- | --- | --- | --- | |-------------------------|----------------------------------------------------------------------------------------|----------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | 特定对象调研 □分析师会议 ...

浙江润阳新材料科技股份有限公司 2022 年第三季度报告 浙江润阳新材料科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度报告是否经过审计 □是 否 一、主要财务数据 （一） 主要会计数据和财务指标 证券代码：300920 证券简称：润阳科技 公告编号：2022-055 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 61,547,892.15 | -51.27% | 305,762,143.69 | -16.02% | | 归属于上市公司股东 | -7, ...

Financial Performance - The company reported a revenue of 300 million CNY for the first half of 2022, representing a year-on-year increase of 15%[15]. - The company's operating revenue for the reporting period was ¥244,214,251.54, representing a 2.71% increase compared to ¥237,772,994.88 in the same period last year[22]. - Net profit attributable to shareholders decreased by 47.14% to ¥28,471,355.85 from ¥53,860,295.79 year-on-year[22]. - The net profit after deducting non-recurring gains and losses fell by 51.70% to ¥23,789,170.59 from ¥49,256,879.19 in the previous year[22]. - Basic and diluted earnings per share decreased by 48.15% to ¥0.28 from ¥0.54 year-on-year[22]. - The company reported a total profit of CNY 33,763,919.23, down from CNY 66,835,759.95 in the first half of 2021[173]. - The total comprehensive income for the first half of 2022 was CNY 15,555,764.63, down from CNY 42,433,195.75 in the previous year, indicating a decrease of 63.4%[177]. - The company reported a significant increase in cash received from other operating activities, totaling CNY 18,019,540.41, compared to CNY 7,933,193.61 in the first half of 2021, representing a growth of 127.5%[180]. Research and Development - The company plans to invest 50 million CNY in R&D for new product development in the next fiscal year[15]. - Research and development investment rose by 55.98% to approximately ¥14.18 million, reflecting increased activities to enhance new product capabilities[59]. - The company emphasizes R&D innovation, continuously exploring new formulations and processes for IXPE foam plastics[36]. - The company has established a comprehensive R&D system and collaborates with universities and research institutions to enhance its technological capabilities[43]. - The company focuses on the development of IXPE products, which are used in green and healthy living applications, emphasizing high-quality and high-performance materials[113]. Market Expansion and Strategy - User data indicates a 20% increase in customer base, reaching 10,000 active users by June 30, 2022[15]. - The company has expanded its market presence in Southeast Asia, with a 30% increase in sales in that region[15]. - Future guidance estimates a revenue growth of 10-15% for the second half of 2022[15]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[15]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[194]. Financial Position and Assets - Total assets at the end of the reporting period were ¥1,388,748,307.10, a decrease of 1.43% from ¥1,408,909,555.93 at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 3.45% to ¥1,135,041,885.15 from ¥1,175,647,758.74 at the end of the previous year[22]. - Cash and cash equivalents decreased by 1.93% to 595,534,402.84, constituting 42.88% of total assets, attributed to increased investment[64]. - The company's total assets at the end of the current period amount to 2.35 billion, reflecting a decrease of 12.6% compared to the previous period[190]. Operational Efficiency and Costs - Operating costs increased by 22.77% to approximately ¥178.81 million, primarily due to rising manufacturing costs related to the pandemic[58]. - The gross profit margin for the first half of 2022 was 25%, a decrease of 3% compared to the same period last year[15]. - The company focuses on expanding production capacity and optimizing product structure to enhance profitability[39]. - The company has completed the first and second phases of capacity expansion in Vietnam, which is expected to support future performance growth[47]. Environmental and Social Responsibility - The company has implemented measures to enhance environmental protection, including the installation of online temperature monitoring systems for pollution control equipment[108]. - The company has established a photovoltaic power station on the rooftop of its factory, contributing to energy savings and reducing carbon emissions[109]. - The company has made efforts to improve employee skills through training in environmental management and equipment maintenance[108]. - The company has donated 2 million RMB to the Yaya Charity Foundation, supporting education and healthcare for disadvantaged groups since 2017[115]. Risks and Challenges - The company has identified risks including raw material price fluctuations and increased market competition, which may impact future performance[5]. - The company faces risks from rising raw material prices, which could adversely affect operating performance if costs cannot be passed on to customers[87]. - The company is exposed to market competition risks, particularly if existing competitors increase investments or new entrants emerge in the IXPE foam plastic industry[90]. - The company is monitoring international trade tensions that could affect its export markets and downstream customers[89].

浙江润阳新材料科技股份有限公司 2022 年第一季度报告全文 证券代码：300920 证券简称：润阳科技 公告编号：2022-029 浙江润阳新材料科技股份有限公司 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 □ 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） | 118,913,865.65 | 106,682,724.42 | 11.46% | | 归属于上市公司股东的净利润（元） | 17,304,368.05 | 2 ...

Financial Performance - The company's operating revenue for 2021 was approximately ¥501.50 million, representing a 15.52% increase compared to ¥434.12 million in 2020 [20]. - The net profit attributable to shareholders for 2021 was approximately ¥90.07 million, a decrease of 29.05% from ¥126.95 million in 2020 [20]. - The net profit after deducting non-recurring gains and losses was approximately ¥82.18 million, down 26.16% from ¥111.30 million in 2020 [20]. - The basic earnings per share for 2021 was ¥0.90, a decline of 46.75% compared to ¥1.69 in 2020 [20]. - The total assets at the end of 2021 were approximately ¥1.41 billion, an increase of 8.77% from ¥1.30 billion at the end of 2020 [20]. - The company's cash flow from operating activities for 2021 was approximately ¥58.55 million, a decrease of 30.58% from ¥84.34 million in 2020 [20]. - The company reported a weighted average return on equity of 7.86% for 2021, down from 28.25% in 2020 [20]. - The company achieved operating revenue of CNY 501.50 million in 2021, a year-on-year increase of 15.52%, driven by strong market demand and the gradual opening of the Vietnamese market [63]. - Operating costs rose to CNY 327.87 million, reflecting a year-on-year increase of 36.92, primarily due to rising raw material procurement prices [63]. - The company reported a total revenue of 56,160,711 in the fiscal year 2021 [146]. Dividend Distribution - The company plans to distribute a cash dividend of 8.00 RMB per 10 shares to all shareholders, based on a total of 100,000,000 shares [4]. - The company reported a total distributable profit of RMB 302,007,602.59 for the year [179]. Risks and Challenges - The company acknowledges significant risks including COVID-19, rising raw material prices, and intensified market competition [4]. - The report emphasizes the importance of risk awareness for investors regarding future development strategies and operational plans [4]. - The company is closely monitoring the ongoing COVID-19 pandemic, which poses risks to production operations and logistics costs due to global shipping constraints [118]. - The company acknowledges the potential for gross margin fluctuations due to rising raw material prices and increased market competition, which could impact long-term profitability [120]. - The company is facing risks from international trade tensions, particularly with the US, which could adversely affect export performance and customer relationships [122]. Research and Development - The company plans to continue its focus on the research and development of polyolefin foaming materials, which are essential for its core business [28]. - R&D expenses increased by 44.37% to CNY 22.86 million, as the company focused on developing new fields and enhancing product performance [63]. - The company is in the promotion and improvement stage for several R&D projects, including high-strength IXPE foam materials and continuous granulation technology [82][84]. - The company aims to enhance product quality and efficiency through various innovative technologies, including radiation cross-linking and efficient feeding techniques [82][84]. - The company’s core product, solid cotton, has significantly improved environmental indicators compared to foreign standards, indicating strong R&D capabilities [59]. Market and Industry Trends - The foam plastic manufacturing industry is experiencing accelerated integration, with companies expanding into high-profit, high-tech new fields, enhancing market share and profitability [32]. - The market demand for foam plastics is rapidly expanding, driven by continuous growth in downstream industries [36]. - New types of foam plastics with low volatile organic compound content are expected to capture a larger market share due to their environmental advantages [32]. - IXPE products are non-toxic, environmentally friendly, and widely used in home decoration, automotive interiors, baby products, sports leisure, consumer electronics, home appliances, and medical devices [38]. Production and Capacity - The company achieved a production capacity of 21 million square meters per year for IXPE, with a utilization rate of 80.05% [55]. - The company is currently constructing projects to increase IXPE production capacity by 16 million square meters annually [55]. - The company has completed the first and second phases of capacity expansion in Vietnam, ensuring future growth potential [50]. - The company plans to increase production capacity by 16 million square meters annually through automation upgrades and expansion projects, which are crucial for future growth [123]. Supply Chain and Procurement - The company has established a stable supply chain for raw materials, primarily sourced from large petrochemical enterprises, ensuring no risk of raw material shortages [35]. - The procurement model is based on production plans and market prices, with LDPE accounting for 70.66% of total procurement [53]. - The average procurement price of foaming agents rose by 49.35% in 2021 due to rising raw material costs and market monopolies [53]. - In 2021, the average procurement price of LDPE increased by 22.42% compared to 2020, influenced by international oil price fluctuations [53]. Corporate Governance - The company has established a solid governance structure, including a board of directors with 9 members, 3 of whom are independent directors, ensuring compliance with regulatory requirements [131]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, aligning with legal and regulatory standards [133]. - The company is committed to maintaining high standards of information disclosure, ensuring that all investors have equal access to accurate and timely information [135]. - The company has a complete governance structure that complies with legal regulations, ensuring no significant discrepancies with the requirements set by regulatory authorities [136]. Employee Management - The total number of employees at the end of the reporting period was 816, with 523 in the parent company and 293 in major subsidiaries [173]. - The company has established a comprehensive salary management system, considering factors such as social price levels and employee contributions [175]. - The company has a training plan that includes both internal and external training to enhance employee skills and safety awareness [176]. - The company has no retired employees requiring expense coverage, indicating a focus on maintaining a younger workforce [173]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 30% based on new product launches and market expansion strategies [196]. - The company plans to explore new product markets and applications, particularly in solid cotton, to cultivate new profit growth points [117]. - The company aims to reduce operational costs by 10% through efficiency improvements in the supply chain [196]. - Future guidance indicates an expected EBITDA margin of 20% for the upcoming fiscal year, reflecting strong operational performance [197].

[Major 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 provides an overview of the company's key financial performance indicators and their significant changes during the reporting period [Key Accounting Data and Financial Indicators](index=1&type=section&id=%E4%B8%80%E3%80%81%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) In the first three quarters of 2021, the company's operating revenue increased by **20.36%** year-on-year, but net profit attributable to shareholders of the listed company decreased by **20.62%** year-on-year; Q3 single-quarter revenue grew by **8.21%**, while net profit attributable to parent company significantly declined by **38.81%**, indicating pressure on profitability Key Accounting Data and Financial Indicators Summary | Indicator | Year-to-date (YTD) as of Reporting Period End | YTD Change vs. Prior Year Period | | :--- | :--- | :--- | | Operating Revenue (yuan) | 364,075,627.01 | 20.36% | | Net Profit Attributable to Shareholders of Listed Company (yuan) | 75,054,578.60 | -20.62% | | Net Cash Flow from Operating Activities (yuan) | 12,882,186.27 | -81.73% | | Basic Earnings Per Share (yuan/share) | 0.75 | -40.48% | | Weighted Average Return on Net Assets | 6.56% | -15.25% | | Total Assets (yuan) | 1,497,684,530.50 | 15.63% (vs. prior year-end) | | Total Equity Attributable to Shareholders of Listed Company (yuan) | 1,160,086,444.36 | 3.17% (vs. prior year-end) | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=%E4%B8%80%E3%80%81%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) In the first three quarters of 2021, the company's total non-recurring gains and losses amounted to **7.7021 million yuan**, primarily from government grants totaling **9.1805 million yuan**, contributing to current period profit Non-recurring Gains and Losses Summary | Item | Year-to-date Amount as of Reporting Period End (yuan) | Description | | :--- | :--- | :--- | | Government Grants Included in Current Profit/Loss | 9,180,453.00 | Primary component | | Gains and Losses from Disposal of Non-current Assets | 359,286.50 | - | | **Total** | **7,702,138.27** | -- | [Analysis of Changes in Key Financial Indicators](index=2&type=section&id=%E4%B8%80%E3%80%81%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) During the reporting period, several financial indicators experienced significant changes, with substantial increases in prepayments, inventory, and construction in progress on the asset side to mitigate raw material price hikes and project investments, while short-term borrowings surged due to increased funding needs; operating costs rose by **48.61%** due to raw material price increases and freight accounting adjustments, and net cash flow from operating activities sharply decreased by **81.73%** due to higher procurement expenditures - Inventory increased by **104.31%** from the beginning of the year, primarily due to increased raw material inventory and advance stocking to hedge against rising raw material prices[7](index=7&type=chunk) - Short-term borrowings increased by **271.96%** from the beginning of the year, mainly due to the company's increased short-term funding needs[8](index=8&type=chunk) - Operating costs increased by **48.61%** year-on-year, primarily due to rising raw material prices, increased production and sales, and the reclassification of freight costs to operating costs under new revenue standards[8](index=8&type=chunk) - Net cash flow from operating activities significantly decreased by **81.73%** year-on-year, mainly due to increased cash payments for goods and services[8](index=8&type=chunk) [Shareholder Information](index=4&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) This section details the company's shareholder structure, including the total number of shareholders and the ownership breakdown of the top ten shareholders [Shareholder Ownership](index=4&type=section&id=%E4%BA%8C%E3%80%81%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 **7,269** common shareholders, with a concentrated equity structure where controlling shareholder Zhang Pu holds **41.16%**, and the top ten shareholders collectively hold a high proportion, largely comprising restricted shares, while the top ten unrestricted shareholders are primarily public funds - The total number of common shareholders at the end of the reporting period was **7,269** households[10](index=10&type=chunk) Top Five Shareholders' Ownership | Shareholder Name | Shareholder Type | Shareholding Percentage | | :--- | :--- | :--- | | Zhang Pu | Domestic Natural Person | 41.16% | | Fei Xiaofeng | Overseas Natural Person | 8.90% | | Tong Xiaoling | Domestic Natural Person | 5.56% | | Ningbo Meishan Bonded Port Area Anyang Investment Management Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 4.60% | | Ningbo Meishan Bonded Port Area Mingmao Investment Management Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Entity | 4.46% | - The company's controlling shareholder is Ms. Zhang Pu, and the actual controllers are Ms. Zhang Pu and Mr. Yang Qingfeng, the company's Chairman and General Manager, who are a married couple[11](index=11&type=chunk) [Other Significant 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) This section covers key corporate actions during the reporting period, including the implementation of a restricted stock incentive plan and a strategic investment by a wholly-owned subsidiary [Restricted Stock Incentive Plan](index=5&type=section&id=%E4%B8%89%E3%80%81%28%E4%B8%80%29%E5%85%B3%E4%BA%8E%E5%85%AC%E5%8F%B8%E9%99%90%E5%88%B6%E6%80%A7%E8%82%A1%E7%A5%A8%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E4%BA%8B%E9%A1%B9) During the reporting period, the company actively advanced and implemented its 2021 Restricted Stock Incentive Plan, which, after multiple board reviews and shareholder approval, granted **4.29 million** restricted shares to **45** incentive recipients at **30.00 yuan/share** on August 30, 2021, aiming to incentivize core employees - The company reviewed, revised, and approved the "2021 Restricted Stock Incentive Plan (Revised Draft)" and related proposals during the reporting period[12](index=12&type=chunk)[13](index=13&type=chunk)[14](index=14&type=chunk) - On August 27, 2021, the company decided to grant **4.29 million** restricted shares to **45** incentive recipients at a price of **30.00 yuan/share**, with August 30, 2021, as the grant date[14](index=14&type=chunk) [Wholly-owned Subsidiary's External Investment](index=6&type=section&id=%E4%B8%89%E3%80%81%28%E4%BA%8C%29%E5%85%B3%E4%BA%8E%E5%85%AC%E5%8F%B8%E5%85%A8%E8%B5%84%E5%AD%90%E5%85%AC%E5%8F%B8%E7%AD%BE%E7%BD%B2%E5%A2%9E%E8%B5%84%E5%8D%8F%E8%AE%AE%E4%BA%8B%E9%A1%B9) To expand into the maternal and infant market, the company's wholly-owned subsidiary, Zhejiang Runyang Equity Investment Co., Ltd., made a strategic investment in Fuzhou Qinghai Enterprise Management Co., Ltd., injecting **20 million yuan** in cash to acquire a **5.39%** equity stake, aiming to enhance brand and channel advantages - To expand into the maternal and infant market, the company's wholly-owned subsidiary, Zhejiang Runyang Equity Investment Co., Ltd., signed a capital increase agreement with Fuzhou Qinghai Enterprise Management Co., Ltd. and other parties[15](index=15&type=chunk) - Runyang Equity subscribed to Fuzhou Qinghai's newly increased registered capital with **20 million yuan** in cash, holding a **5.39%** equity stake in Fuzhou Qinghai after the capital increase[15](index=15&type=chunk) [Quarterly Financial Statements](index=7&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 presents the company's consolidated financial statements for the quarter, including balance sheet, income statement, and cash flow statement summaries, along with notes on accounting adjustments and audit status [Consolidated Financial Statement Summary](index=7&type=section&id=%E5%9B%9B%E3%80%81%28%E4%B8%80%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) As of September 30, 2021, the company's total assets were **1.498 billion yuan**, up **15.63%** from the beginning of the year; total liabilities were **338 million yuan**, up **97.65%** from the beginning of the year, primarily driven by increased short-term borrowings; year-to-date operating revenue reached **364 million yuan**, a **20.36%** year-on-year increase, while net profit attributable to the parent company was **75 million yuan**, a **20.62%** year-on-year decrease; net cash flow from operating activities was **13 million yuan**, a significant **81.73%** year-on-year decrease Consolidated Financial Statement Summary | Financial Statement Item | Sep 30, 2021 / Jan-Sep 2021 | Dec 31, 2020 / Jan-Sep 2020 | Change | | :--- | :--- | :--- | :--- | | **Balance Sheet** | | | | | Total Assets (yuan) | 1,497,684,530.50 | 1,295,276,834.47 | +15.63% | | Total Liabilities (yuan) | 337,598,086.14 | 170,801,117.31 | +97.65% | | Total Equity Attributable to Parent Company Owners (yuan) | 1,160,086,444.36 | 1,124,475,717.16 | +3.17% | | **Income Statement** | | | | | Operating Revenue (yuan) | 364,075,627.01 | 302,492,756.13 | +20.36% | | Net Profit Attributable to Parent Company Owners (yuan) | 75,054,578.60 | 94,555,139.32 | -20.62% | | **Cash Flow Statement** | | | | | Net Cash Flow from Operating Activities (yuan) | 12,882,186.27 | 70,497,982.62 | -81.73% | | Net Cash Flow from Investing Activities (yuan) | -101,767,983.47 | -72,107,221.13 | -41.13% | | Net Cash Flow from Financing Activities (yuan) | 110,223,474.08 | 28,277,154.26 | +289.80% | [Financial Statement Adjustments and Audit Status](index=13&type=section&id=%E5%9B%9B%E3%80%81%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 lease standards starting in 2021, requiring no adjustment to the opening balance sheet due to the absence of lease transactions in 2020 and prior years, and this quarterly financial report remains unaudited - The company adopted new lease standards for the first time in 2021, but no adjustment to the opening balance sheet was required as there were no lease transactions in prior periods[29](index=29&type=chunk) - The company's Q3 2021 report is unaudited[30](index=30&type=chunk)