Financial Performance - The company's revenue for Q3 2021 reached ¥997,617,879.62, representing a 71.79% increase compared to the same period last year[4] - Net profit attributable to shareholders was ¥1,775,504.03, a significant decrease of 93.90% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,559,662.48, down 94.53% from the previous year[4] - Basic earnings per share were ¥0.0215, a decrease of 95.01% year-on-year[5] - Total operating revenue for the current period reached ¥2,473,068,362.61, a significant increase from ¥1,418,775,210.85 in the previous period, representing a growth of approximately 74.1%[21] - Net profit for the current period was ¥46,872,225.72, down from ¥76,406,148.78 in the previous period, indicating a decline of approximately 38.7%[22] - Basic and diluted earnings per share decreased to ¥0.6458 from ¥1.1307, a drop of about 42.9%[23] Cash Flow and Assets - The net cash flow from operating activities was -¥202,859,240.65, reflecting a decline of 306.36% compared to the same period last year[4] - Cash flow from operating activities showed a net outflow of ¥202,859,240.65, contrasting with a net inflow of ¥98,304,588.74 in the previous period[27] - Cash and cash equivalents stood at RMB 522,773,324.76, significantly higher than RMB 231,516,921.73 in the previous year, representing a growth of approximately 126.6%[17] - Cash and cash equivalents at the end of the period totaled ¥274,096,498.41, up from ¥59,064,127.74 at the end of the previous period, marking an increase of approximately 363.5%[27] - Total assets at the end of the reporting period were ¥2,616,144,570.85, an increase of 46.71% from the end of the previous year[5] - The company's current assets reached RMB 2,132,395,081.57, compared to RMB 1,366,663,523.12 in the previous year, indicating a year-over-year increase of about 56.2%[18] - Total current assets decreased to CNY 1,366,323,568.90, a reduction of CNY 339,954.22 compared to the previous year[30] - Total non-current assets increased to CNY 421,366,854.00, reflecting an increase of CNY 4,802,135.76[31] - Total assets amounted to CNY 1,787,690,422.90, showing an increase of CNY 4,462,181.54[31] Liabilities and Equity - Total liabilities increased to RMB 1,794,447,546.46 from RMB 1,291,374,541.50, reflecting a rise of approximately 39.0%[19] - The company's equity attributable to shareholders rose to RMB 821,697,024.39, up from RMB 491,853,699.86, marking an increase of around 67.0%[20] - Total current liabilities rose to CNY 1,284,504,719.43, an increase of CNY 780,625.14[32] - Total non-current liabilities increased to CNY 11,332,003.61, reflecting an increase of CNY 3,681,556.40[32] - Total liabilities reached CNY 1,295,836,723.04, an increase of CNY 4,462,181.54[32] - Total equity remained stable at CNY 491,853,699.86[32] Operational Insights - The company experienced significant increases in raw material prices during the reporting period, impacting profit margins[9] - The increase in sales volume and prices contributed to the revenue growth despite the decline in net profit[9] - The company reported a government subsidy of ¥369,483.43 related to research and development expenses during the reporting period[7] - The company reported a significant increase in sales revenue from goods and services, totaling ¥1,328,475,151.59 for the current period[26] - Research and development expenses increased to ¥36,519,144.99 from ¥24,633,137.15, representing a growth of about 48.0%[21] Corporate Developments - The company plans to issue debt financing tools totaling up to RMB 0.5 billion to support its operations and growth initiatives[15] - The registered capital was changed to RMB 90,100,000, reflecting the company's transition to a publicly listed company[14] - The company completed the election of its third board of directors and supervisory board, enhancing its governance structure[15] - The third quarter report was not audited[33] - The company is implementing new leasing standards starting from 2021[33]

Financial Performance - The company's operating revenue for the current reporting period reached ¥1,475,450,482.99, representing a 76.06% increase compared to ¥838,044,036.89 in the same period last year[24]. - The net profit attributable to shareholders of the listed company decreased by 4.62% to ¥45,096,721.69 from ¥47,280,709.58 in the previous year[24]. - The net cash flow from operating activities turned negative at -¥175,112,048.27, a decline of 333.87% compared to ¥74,875,560.55 in the same period last year[24]. - Total assets increased by 31.32% to ¥2,341,697,183.79 from ¥1,783,228,241.36 at the end of the previous year[24]. - The basic earnings per share for the current period is ¥0.6700, down 4.24% from ¥0.6997 in the previous year[24]. - The weighted average return on equity decreased to 8.77% from 11.10% in the previous year, indicating a decline in profitability[24]. - The company's revenue for the reporting period reached ¥1,475,450,482.99, representing a 76.06% increase compared to ¥838,044,036.89 in the same period last year, primarily due to an increase in sales prices[58]. - The production capacity of the company reached 376,800 tons in 2020, with a sales volume of 410,200 tons, positioning the company among the top players in the industry[53]. Research and Development - The company holds 43 authorized patents, including 23 invention patents and 20 utility model patents, reflecting its commitment to R&D and technological advancement[36]. - The company has a strong R&D capability, conducting both independent and collaborative research, with partnerships with institutions like Fudan University[46]. - The company has established a modern R&D center focused on acrylic emulsions, enhancing its competitive edge in the market[36]. - The company has established a comprehensive R&D system to ensure the development of new products and the upgrading of existing processes[46]. - The company's core technologies include shell-core latex particle technology and multi-net flavor technology, allowing for further innovation based on market demands[51]. - Research and development expenses rose by 42.74% to CNY 22,299,319.93, indicating a significant increase in R&D investment[61]. Market Position and Strategy - The company is focused on expanding its market presence and developing new products and technologies[17]. - The company is a core supplier for well-known paint companies such as Nippon Paint and AkzoNobel, indicating strong market relationships[35]. - The acrylic emulsion industry is expected to see significant demand growth due to the increasing shift towards water-based coatings driven by environmental policies[33]. - The acrylic emulsion industry in China is expected to undergo consolidation, with the company positioned to gain market share due to its strong capabilities and scale[47]. - The company emphasizes a "quality first" production philosophy, ensuring high product quality through optimized production processes and enhanced automation[55]. - The company has a comprehensive marketing network covering all 31 provinces and cities in China, utilizing a dual sales model targeting both strategic clients and small to medium-sized enterprises[56]. Environmental Responsibility - The report emphasizes the importance of environmental and social responsibility in its operations[28]. - Environmental protection measures are being prioritized, with a dedicated department overseeing compliance and pollution reduction initiatives[84]. - The company has implemented measures to ensure compliance with environmental standards across multiple emission points[93]. - The company has successfully maintained emissions of hydrogen sulfide at 0.00451 mg/Nm³, below the standard limit of 5.0 mg/Nm³[93]. - The company achieved compliance with environmental standards for all monitored pollutants, with no exceedances reported during the reporting period[101]. - The company has implemented a comprehensive environmental risk management plan, with no incidents of environmental pollution reported during the reporting period[105]. Governance and Internal Control - The financial report is guaranteed to be true, accurate, and complete by the company's management[4]. - The report includes a detailed discussion of the company's management and analysis of financial performance[17]. - The financial report includes a comprehensive overview of the company's governance structure[27]. - The company has committed to maintaining transparency and accountability in its financial disclosures[4]. - The company has maintained a robust internal control system and governance structure, ensuring the safety of assets and funds while protecting shareholder interests[108]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, reflecting financial discipline[112]. Risks and Challenges - The company has outlined potential risk factors and corresponding countermeasures in the report[5]. - The company is facing risks related to raw material price fluctuations, particularly with upstream materials like acrylic acid and styrene, which could affect profit margins[78]. - To mitigate risks, the company is enhancing procurement and inventory management to control raw material costs[78]. - The company has implemented measures to strengthen cash flow management, including timely collection of accounts receivable and reducing reliance on commercial acceptance bills[80]. Shareholder Information - The total number of shares remains at 67,575,000, with 100% being limited sale shares[147]. - The largest shareholder, Yang Wenyu, holds 69.60% of the shares, amounting to 47,029,000 shares[150]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[151]. Financial Stability - The company has not experienced any bankruptcy restructuring or significant penalties during the reporting period, indicating financial stability[116][119]. - The company has not reported any major guarantees or significant contracts that could impact its financial position[130]. - The company's asset-liability ratio stands at 77.09%, highlighting concerns regarding its debt repayment capacity[82]. - The company reported a significant increase in accounts payable, which rose to CNY 205,454,602.95 from CNY 156,129,403.23, reflecting a growth of 31.6%[165].