Financial Performance - The company's revenue for Q1 2022 was ¥749,508,623.14, representing a 45.15% increase compared to ¥516,376,172.08 in the same period last year[5] - Net profit attributable to shareholders was ¥6,967,258.38, a significant increase of 114.27% from ¥3,251,690.49 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,496,220.72, reflecting a 205.09% increase from ¥1,801,480.79 in the previous year[5] - The company's basic earnings per share rose to ¥0.08, up 60.00% from ¥0.05 in the same period last year[5] - Total operating revenue for Q1 2022 was CNY 749,508,623.14, an increase of 45.0% compared to CNY 516,376,172.08 in Q1 2021[24] - Net profit for Q1 2022 reached CNY 6,967,258.38, representing a 114.0% increase from CNY 3,251,690.49 in Q1 2021[25] - Operating profit for Q1 2022 was CNY 10,776,107.59, compared to CNY 5,707,205.70 in Q1 2021, marking an increase of 88.5%[25] - Basic and diluted earnings per share for Q1 2022 were both CNY 0.08, compared to CNY 0.05 in Q1 2021[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,657,272,585.92, an increase of 7.69% from ¥2,467,602,307.48 at the end of the previous year[5] - The total assets of the company reached CNY 2,657,272,585.92, up from CNY 2,467,602,307.48, marking an increase of 7.76%[21] - The company’s total liabilities increased to CNY 1,755,895,803.81 from CNY 1,584,441,385.10, reflecting a growth of 10.81%[21] - The total liabilities as of Q1 2022 were CNY 1,808,114,974.39, up from CNY 1,641,526,027.99 in the previous year[25] - The total equity attributable to shareholders of the parent company was CNY 849,157,611.53, an increase from CNY 826,076,279.49 in Q1 2021[25] Cash Flow - The net cash flow from operating activities was -¥43,843,370.65, a decline of 205.20% compared to -¥14,365,641.31 in the same period last year, primarily due to increased cash payments for raw materials[10] - The net cash flow from operating activities for Q1 2022 was -CNY 43,843,370.65, worsening from -CNY 14,365,641.31 in Q1 2021[28] - Cash inflow from operating activities in Q1 2022 was CNY 418,730,578.55, compared to CNY 374,410,893.44 in Q1 2021[28] - The net cash flow from financing activities was CNY 140,812,154.55, an increase from CNY 99,160,447.94 in the previous year[29] - Cash and cash equivalents at the end of the period totaled CNY 195,766,903.98, up from CNY 99,817,814.91 year-over-year[29] - The net increase in cash and cash equivalents for the period was CNY 33,068,967.09, compared to CNY 57,210,885.08 in the previous year[29] Shareholder Information - The top three shareholders hold a combined 67.53% of the company's shares, with the largest shareholder owning 51.58%[12] - The company completed the first grant of 1,074,600 restricted stocks under the 2021 incentive plan, representing 2.00% of the total share capital[17] - The company has a total of 68,649,600 restricted shares at the end of the reporting period, with 1,166,023 shares released during the period[16] Research and Development - Research and development expenses for Q1 2022 totaled CNY 12,068,136.64, an increase of 25.0% from CNY 9,646,752.63 in Q1 2021[25] Inventory and Borrowings - The company’s inventory rose to CNY 302,672,295.26 from CNY 198,819,021.36, showing a significant increase of 52.23%[20] - The company’s long-term borrowings increased to CNY 10,930,705.96 from CNY 5,650,507.98, indicating a rise of 93.73%[21] Government Support - The company received government subsidies amounting to ¥558,947.10 during the reporting period[8] Audit Information - The company did not conduct an audit for the first quarter report[30]

Financial Performance - The company's operating revenue for 2021 was ¥2,974,838,701.52, representing a 47.11% increase compared to ¥2,022,152,767.58 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥50,451,374.64, a decrease of 43.82% from ¥89,799,844.18 in 2020[20]. - The net cash flow from operating activities was -¥173,346,916.85, a decline of 298.53% compared to ¥87,313,684.98 in 2020[20]. - The total assets at the end of 2021 amounted to ¥2,467,602,307.48, an increase of 38.38% from ¥1,783,228,241.36 at the end of 2020[20]. - The net assets attributable to shareholders increased by 67.95% to ¥826,076,279.49 at the end of 2021 from ¥491,853,699.86 at the end of 2020[20]. - The basic earnings per share for 2021 was ¥0.66, down 50.38% from ¥1.33 in 2020[20]. - The company reported a total of ¥7,749,644.52 in non-recurring gains and losses for 2021, compared to ¥2,694,863.28 in 2020[27]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, which was ¥42,701,730.12 in 2021, down 50.98% from ¥87,104,980.90 in 2020[20]. - The weighted average return on equity for 2021 was 7.94%, a decrease of 12.15% from 20.09% in 2020[20]. - The total profit for 2021 was CNY 5,692.82 million, a decrease of 48.33% compared to the previous year, while the net profit attributable to shareholders was CNY 5,045.14 million, down 43.82%[66]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.60 RMB per 10 shares and issue 1 bonus share for every 10 shares held, based on a total of 91,174,600 shares[5]. - The cash dividend represents 37.50% of the total distributable profit of 31,122,648.76 CNY[195]. - The net profit attributable to shareholders for the year is 50,451,374.64 CNY, with a legal reserve of 46,208.33 CNY deducted[198]. Risks and Challenges - The company acknowledges risks including raw material price fluctuations, safety and environmental risks, accounts receivable risks, talent shortages, and liquidity risks[5]. - The company emphasizes that future development strategies and operational plans are subject to market conditions and uncertainties, and do not constitute profit forecasts[5]. - The report outlines the importance of maintaining awareness of investment risks associated with the company's future plans[5]. - The company faces risks related to raw material price fluctuations, which could impact production costs, and plans to optimize procurement strategies to mitigate these risks[128]. - The company is addressing the risk of accounts receivable growth by enhancing credit evaluations and optimizing receivables management[129]. - The company recognizes the challenge of talent shortages in the high-quality development phase of the industry and is focusing on attracting skilled professionals[129]. - The company is enhancing cash flow management to mitigate liquidity risks associated with rising raw material prices and delayed customer payments[130]. Corporate Governance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting head[4]. - The company has a comprehensive governance structure in place, as detailed in the corporate governance section of the report[7]. - The company maintained a strong governance structure, with a board of 7 members, including 3 independent directors, complying with legal and regulatory requirements[133]. - The company has established a performance evaluation system linking the remuneration of directors, supervisors, and senior management to their performance[138]. - The company operates independently in terms of assets, personnel, finance, and business, ensuring no reliance on controlling shareholders for operations[141]. - The company has a complete and independent financial accounting system, with separate bank accounts and independent tax obligations[145]. - The company actively engages with investors and stakeholders, ensuring transparent and timely information disclosure[139]. - The company has a clear asset ownership structure, with no instances of asset misappropriation by shareholders[143]. - The company has a robust internal control system in place to manage financial decisions independently[145]. - The company has a dedicated investor relations management system to facilitate communication with shareholders[139]. Research and Development - The company has a strong R&D capability, focusing on independent research and development while also collaborating with universities for product innovation and process upgrades[45]. - The company has developed a series of core technologies through independent research and development, resulting in 25 invention patents and 20 utility model patents by the end of the reporting period[48]. - The company is focused on developing high-performance products to meet diverse market demands, leveraging its extensive patent portfolio[53]. - The company is committed to developing new products and technologies to drive future growth[184]. - The company plans to implement a stock incentive plan to motivate its employees and align their interests with shareholders[185]. - The company is focusing on high-quality development and increasing R&D for high-end new products to meet the growing demand for green and healthy living[119]. - The company aims to enhance operational management levels and achieve its three-year plan goals (2022-2024) by improving customer service capabilities and R&D innovation[124]. Market Position and Strategy - The company aims to enhance its market share by leveraging its brand influence and strengthening cooperation with key downstream enterprises in 2022[34]. - The company has established itself as a core supplier for well-known paint companies such as Nippon Paint, Skshu Paint, and AkzoNobel, indicating strong market positioning[35]. - The overall demand for the architectural coatings industry is projected to remain on an upward trend in 2022, supported by the ongoing expansion of leading enterprises in the downstream coatings sector[32]. - The company is focusing on expanding its market presence and enhancing product development capabilities in the chemical industry[159]. - The company plans to optimize differentiated marketing strategies to increase market share and enhance product competitiveness in 2022[126]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[159]. Production and Capacity - The company's annual production capacity reached 397,000 tons in 2021, with future expansions planned for 280,000 tons in Anhui and 200,000 tons in Henan, enhancing its competitive edge in the industry[48]. - The company has established five major production bases in Shanghai, Guangdong, Shandong, Sichuan, and is planning a sixth base in Anhui, enhancing its market responsiveness and reducing transportation costs[61]. - The company’s production process involves multiple stages, including monomer pre-mixing, polymerization, post-treatment, and filtration, ensuring product quality and consistency[39]. - The company produces various types of water-based acrylic emulsions, including pure acrylic emulsions, styrene-acrylic emulsions, silicone-acrylic emulsions, and vinyl acetate-acrylic emulsions[37]. - The company has a strong team of senior engineers and PhDs collaborating on product development, ensuring a mature product system and advanced application technology[51]. Employee Management - The total number of employees at the end of the reporting period is 567, with 59 in the parent company and 508 in major subsidiaries[187]. - The employee composition includes 174 production personnel, 160 sales personnel, 68 technical personnel, and 128 administrative personnel[188]. - The company has established a multi-level training system to enhance employee skills and align with future strategic goals[190]. - The total remuneration for directors, supervisors, and senior management in 2021 was fully paid at 13.1714 million yuan[173]. - The company adheres to a strict compensation policy based on position, ability, and performance to enhance competitiveness[189].

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].