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Financial Performance - The company's operating revenue for 2022 was ¥903,719,082.41, representing an increase of 83.69% compared to ¥491,978,638.12 in 2021[23]. - The net profit attributable to shareholders for 2022 was ¥148,986,267.22, an increase of 8.21% from ¥137,682,002.04 in 2021[23]. - The net cash flow from operating activities was negative at -¥69,925,980.24, a decrease of 172.41% compared to ¥96,567,043.52 in 2021[23]. - Total assets at the end of 2022 reached ¥3,031,719,976.69, a significant increase of 359.46% from ¥659,845,406.75 at the end of 2021[23]. - The company's net assets attributable to shareholders increased by 475.06% to ¥2,802,081,964.26 at the end of 2022 from ¥487,271,847.23 at the end of 2021[23]. - The company reported a basic earnings per share of ¥2.6966, a slight decrease of 0.11% from ¥2.6996 in 2021[23]. - The company’s financial performance metrics will be detailed in the subsequent sections of the report[18]. Dividend and Capital Increase - The company plans to distribute a cash dividend of 10 RMB per 10 shares (including tax) and to increase capital by 5 shares for every 10 shares held, based on a total of 68,000,000 shares[6]. - The cash dividend accounted for 100% of the total profit distribution amount[177]. Research and Development - The company is focused on the development of new products and technologies within the lithium battery sector[16]. - The management discusses the importance of research and development in maintaining product quality and innovation[16]. - The company’s R&D investment was CNY 42,854,859.43, which is 4.74% of total revenue, marking an 85.67% increase compared to 2021[76]. - The number of R&D personnel increased by 20% from 60 in 2021 to 72 in 2022, although their proportion of total employees decreased from 16.09% to 13.56%[92]. - The company is focusing on developing new materials for lithium-ion batteries, including natural graphite and silicon-carbon composite materials, which are expected to enhance performance and market competitiveness[91]. Market Trends and Opportunities - The lithium-ion battery industry is experiencing rapid growth due to increasing demand in electric vehicles and energy storage, providing significant market opportunities for the company[33]. - In 2022, China's new energy vehicle sales reached 6.887 million units, a year-on-year increase of 93.4%, with a penetration rate of 25.6%[36]. - The global electric vehicle battery installation capacity in 2022 was 517.9 GWh, representing a year-on-year growth of 71.8%, with Chinese battery companies holding 60.4% of the global market share[38]. - The domestic power lithium battery shipment volume in 2022 reached 465.5 GWh, a cumulative year-on-year increase of 111.6%[37]. - The global energy storage battery shipment volume in 2022 was 122.2 GWh, showing a year-on-year growth of 175.2%[40]. Production Capacity and Expansion - The company has increased its production capacity for anode coating materials to 20,000 tons for lithium battery anode materials and 5,000 tons for carbon fiber spinnable asphalt, achieving full production by the end of 2020[58]. - The company has a production capacity of 40,000 tons/year for anode coating materials, with an additional 15,000 tons/year under construction, ensuring stable supply capabilities compared to competitors[73]. - The company is actively expanding its market presence and developing new products to meet the growing demand for lithium battery anode materials[74]. Supply Chain and Raw Materials - The company has established stable long-term relationships with suppliers for key raw materials, ensuring a reliable supply chain[61]. - The main raw materials for lithium battery anode materials include graphite and silicon-based materials, with graphite currently being the mainstream material due to its balanced performance[43]. Environmental Responsibility - The company strictly adheres to various environmental protection laws and standards, including the Environmental Protection Law of the People's Republic of China and the Air Pollution Prevention and Control Law[189]. - The company has valid pollution discharge permits for its subsidiaries, with the latest permits expiring in 2027[190]. - The company has implemented measures to optimize energy consumption and reduce carbon emissions through advanced processes and equipment[195]. - The company emphasizes sustainable development and green practices as a core part of its operational strategy[195]. Governance and Management - The company has established a performance evaluation and incentive system linking management compensation to business performance, ensuring transparency in the hiring of senior management[149]. - The company maintains complete independence from its controlling shareholder in terms of assets, personnel, finance, and operations, with no instances of fund occupation or guarantees provided to the controlling shareholder[151]. - The company has a complete and independent business system, including technology research and development, financial accounting, quality management, and sales, with no reliance on the controlling shareholder for procurement or sales[151]. - The company has established a compensation committee to oversee the remuneration and assessment of its directors and senior management[162]. Risks and Challenges - The company acknowledges potential risks in future plans and performance forecasts, urging investors to maintain awareness of these risks[5]. - The company is facing risks from potential policy changes that could negatively impact the profitability of the entire electric vehicle supply chain, including upstream lithium battery manufacturers[138]. - The company recognizes potential risks from technological shifts in anode coating materials and is committed to maintaining a forward-looking approach in product development[136].

Financial Performance - The company's revenue for Q1 2023 was ¥157,260,395.32, representing a 5.60% increase compared to ¥148,920,502.65 in the same period last year[4]. - Net profit attributable to shareholders was ¥28,476,980.67, a 1.48% increase from ¥28,061,111.67 year-on-year[4]. - Net profit excluding non-recurring items decreased by 34.85% to ¥18,002,587.24 from ¥27,633,462.30 in the previous year[4]. - Basic and diluted earnings per share decreased by 23.88% to ¥0.4188 from ¥0.5502 in the same quarter last year[4]. - The company's operating profit for Q1 2023 was CNY 33,632,827.90, compared to CNY 32,787,600.87 in the same period last year, indicating an increase of about 2.58%[18]. - The total profit for Q1 2023 was CNY 32,318,191.74, slightly lower than CNY 32,785,332.14 in Q1 2022, showing a decrease of approximately 1.42%[18]. Cash Flow - The net cash flow from operating activities was -¥299,872,468.06, a significant decline of 5,585.91% compared to -¥5,273,958.88 in Q1 2022[4]. - The total cash flow from operating activities in Q1 2023 was negative CNY 299,872,468.06, compared to negative CNY 5,273,958.88 in Q1 2022, indicating a significant decline in cash flow[21]. - The net cash flow from investing activities surged by 2,655.19% to ¥360,203,580.49, driven by the redemption of financial products[8]. - Investment activities generated a net cash flow of CNY 360,203,580.49 in Q1 2023, compared to a negative cash flow of CNY 14,096,957.09 in the same period last year[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,101,294,391.04, a 2.29% increase from ¥3,031,719,976.69 at the end of the previous year[4]. - Current liabilities totaled CNY 238,760,182.59, an increase of 21% from CNY 197,208,196.75 in the previous year[16]. - Non-current liabilities decreased slightly to CNY 31,975,263.52 from CNY 32,429,815.68 year-over-year[16]. - The total equity attributable to shareholders increased to CNY 2,830,558,944.93, up from CNY 2,802,081,964.26 in Q1 2022[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,414[10]. - The largest shareholder, Yin Hongtao, holds 27.92% of the shares, amounting to 18,987,593 shares[10]. - The total number of shares held by the top ten unrestricted shareholders is 1,000,000[10]. - The total number of restricted shares at the end of the period is 51,000,000, with no new restrictions added during the reporting period[12]. - The company has no preferred shareholders as per the report[11]. Operational Metrics - Total operating revenue for Q1 2023 was CNY 157,260,395.32, an increase of 5.4% compared to CNY 148,920,502.65 in Q1 2022[17]. - Total operating costs for Q1 2023 were CNY 136,127,429.45, up 17.7% from CNY 115,651,788.47 in the same period last year[17]. - Inventory increased to CNY 384,853,673.91 in Q1 2023, a rise of 86.5% from CNY 206,101,573.86 in Q1 2022[16]. - Accounts receivable decreased to ¥159,633,879.35 from ¥166,879,262.87, reflecting a reduction of about 4.5%[14]. Research and Development - Research and development expenses rose to CNY 7,234,206.08 in Q1 2023, up from CNY 6,526,162.98 in Q1 2022, reflecting an increase of approximately 10.83%[18]. Strategic Developments - The company has not reported any significant new strategies or market expansions in this quarter[13]. - The company has not reported any new product launches or significant market expansion strategies during this quarter[17]. - The company plans to lift restrictions on certain shares on specific dates, with the earliest being September 11, 2023[12].

Company Overview - Xinde New Materials was established on November 7, 2000, and is recognized as a high-tech enterprise in Liaoning Province and a national-level specialized and innovative "little giant" enterprise [3]. - The company specializes in the research, production, and sales of anode coating materials and holds several core technologies and processes related to these products, positioning itself as a leading enterprise in the anode coating materials industry [4]. Financial Performance - For the first nine months of 2022, the company achieved a revenue of CNY 695 million, representing a year-on-year increase of 106.57%. The net profit attributable to shareholders was CNY 121 million, up by 10.16%, while the net profit after deducting non-recurring gains and losses was CNY 120 million, an increase of 24.62% [4]. - In Q3 2022, the company reported a revenue of CNY 263 million, with a year-on-year growth of 106.48%, and a net profit of CNY 42 million, reflecting a 72.68% increase [4]. Revenue Structure - The revenue growth in the first nine months of 2022 was primarily driven by increased sales of main products and the contribution from by-products. The revenue structure has shifted, with main and by-product revenues each accounting for 50% [4][5]. - The main products include coating materials, while by-products consist of cracked naphthalene distillate and rubber plasticizers. The main products account for nearly 70% of the net profit [5]. Production Capacity - The current production capacity is 25,000 tons per year, with an additional 30,000 tons per year under construction, expected to bring total capacity to 55,000 tons per year by next year [5]. - The company is operating at full capacity, and the first phase of the fundraising project, which includes 15,000 tons of integrated production capacity, is expected to commence production by the end of October or early November [4][5]. Market Position and Competition - The company has a high market share in high-temperature products, with over 50% of its coating materials being high-temperature and medium-high-temperature products. The demand for high-performance coating materials is increasing, with some customers transitioning from medium and low-temperature materials to high-temperature materials [5][6]. - The main competitors in the high-temperature segment are relatively few, with most competitors focusing on low and medium-temperature products [5]. Technological Advantages - The company possesses significant competitive advantages in production processes and equipment, including proprietary production technology and customized non-standard equipment, which enhance barriers to imitation by competitors [6]. - The company can produce all mainstream coating material specifications, including low, medium, medium-high, and high-temperature products, with a shorter switching cycle between different products [6]. Future Developments - The company is exploring the development of asphalt-grade carbon fiber, with engineering construction nearing completion and equipment debugging expected to begin soon. This product is anticipated to contribute to profits starting next year [7]. - The company is also assessing the potential for process improvements to increase the production of cracked naphthalene distillate while reducing the output of rubber plasticizers [6][7].

Financial Performance - The company's revenue for Q3 2022 reached ¥263,100,556.93, representing a 106.48% increase year-over-year[5] - Net profit attributable to shareholders for Q3 2022 was ¥42,529,092.10, up 12.29% compared to the same period last year[5] - The operating income for the first nine months of 2022 was ¥695,072,683.55, a 106.57% increase from ¥336,478,740.95 in the same period last year[8] - Total operating revenue for the third quarter of 2022 reached CNY 695,072,683.55, a significant increase of 106.7% compared to CNY 336,478,740.95 in the same period last year[17] - The net profit for the third quarter of 2022 was CNY 121,030,482.04, an increase of 10.3% compared to CNY 109,865,346.84 in the same period last year[18] - The total revenue from operating activities reached CNY 718,390,662.18, up 74.5% from CNY 411,406,304.05 in the previous year[19] Assets and Liabilities - The total assets as of September 30, 2022, amounted to ¥2,930,562,844.10, reflecting a significant increase of 344.13% from the end of the previous year[5] - Total assets reached CNY 2,930,562,844.10, compared to CNY 659,845,406.75 at the start of the year, reflecting strong growth[16] - Total liabilities decreased to CNY 156,436,658.19 from CNY 172,573,559.52, indicating improved financial stability[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,191[11] - Major shareholder Yin Hongtao holds 27.92% of shares, totaling 18,987,593 shares[11] - Major shareholder Yin Shiyu holds 24.13% of shares, totaling 16,407,507 shares[11] - The largest unrestricted shareholder, Sun Yixiao, holds 808,084 shares[11] - The company has no known related party relationships among other shareholders[11] - The company has a consistent lock-up period for major shareholders until September 9, 2025[12] Cash Flow - The company’s cash flow from operating activities for the first nine months was ¥108,903,873.81, up 27.70% year-over-year[5] - The net cash flow from operating activities was CNY 108,903,873.81, an increase of 27.7% compared to CNY 85,281,857.08 in the same period last year[19] - The company reported a net cash flow from investment activities of CNY -77,600,435.32, an improvement from CNY -92,770,713.52 in the previous year[20] - The total cash inflow from financing activities was CNY 2,215,188,544.00, a substantial increase from CNY 10,000,000.00 in the same period last year[20] - The net cash flow from financing activities was CNY 2,125,989,435.71, compared to CNY 3,802,464.18 in the previous year[20] Research and Development - Research and development expenses for the first nine months of 2022 were ¥28,672,757.29, an increase of 114.86% compared to the same period in 2021[8] - Research and development expenses increased to CNY 28,672,757.29, up 115.5% from CNY 13,345,151.54 year-on-year, indicating a focus on innovation[17] Equity and Capital - The company’s equity attributable to shareholders increased to ¥2,774,126,185.91, a rise of 469.32% from the previous year-end[5] - The company's equity attributable to shareholders increased significantly to CNY 2,774,126,185.91 from CNY 487,271,847.23, showcasing enhanced shareholder value[16] - The company’s capital reserve increased by 957.00% to ¥2,373,360,838.39, primarily due to the premium from the initial public offering[8] Stock Market Activity - The company received approval from the China Securities Regulatory Commission for its initial public offering on July 20, 2022[13] - The company's ordinary shares were listed on the Shenzhen Stock Exchange on September 9, 2022[13] Inventory and Accounts Receivable - The company reported a significant increase in accounts receivable, which rose by 71.25% to ¥145,821,725.02 due to increased sales and extended credit terms[8] - Inventory as of September 30, 2022, was CNY 71,296,816.52, slightly down from CNY 72,972,684.26 at the beginning of the year[16] Other Information - The company did not report any new product launches or significant market expansion strategies during this quarter[21] - The company reported a net credit impairment loss of CNY -3,154,517.43, compared to a gain of CNY 436,105.33 in the previous year, indicating challenges in credit management[17]