Financial Performance - In the first half of 2022, Sinofert Holdings achieved a pre-tax profit of RMB 527 million in its basic fertilizer business, representing a year-on-year growth of 33.54%[16]. - The company achieved a revenue of RMB 15.306 billion, representing a year-on-year growth of 12.57%[17]. - The net profit attributable to shareholders reached RMB 998 million, a significant increase of 50.53% year-on-year[17]. - The distribution business generated sales revenue of RMB 5.539 billion, with a pre-tax profit of RMB 236 million, reflecting a year-on-year profit growth of 36.29%[17]. - For the first half of 2022, the company achieved a revenue of RMB 15.306 billion, representing a year-on-year increase of 12.57%[28]. - The net profit attributable to shareholders for the same period was RMB 998 million, a year-on-year increase of 50.53%[28]. - Gross profit for the six months ended June 30, 2022, was RMB 1.5 billion, up 17.88% from the previous year[47]. - The profit before tax for the six months ended June 30, 2022, was RMB 1,053,633 thousand, compared to RMB 696,429 thousand for the same period in 2021, reflecting a significant increase[123]. - The company's revenue for the first half of 2022 was RMB 15,306,449 thousand, an increase of 12.6% compared to RMB 13,597,665 thousand in 2021[100]. Product Sales and Market Strategy - The company’s basic fertilizer business maintained a supply ratio of 74% in domestic fertilizer production, with total sales volume reaching 940,000 tons, a year-on-year increase of 31%[17]. - The company launched a new product, "Yaxinruike Ming," as part of its comprehensive biological strategy, which aims to address planting challenges and promote sustainable agricultural development[21]. - The company launched its first self-developed biostimulant "Youcuilu," which has been rapidly promoted, contributing to a total sales volume of new products reaching 899,000 tons, a year-on-year growth of 33%[29]. - The sales volume of differentiated products increased by 25.21% to 1.23 million tons, with differentiated compound fertilizer sales rising by 40.63% to 900,000 tons[48]. - The company is actively promoting differentiated products, enhancing customer stickiness, and expanding market influence through online and offline integration[32]. - The revenue breakdown by product for the first half of 2022 shows potassium fertilizer at RMB 2,342,608 thousand, nitrogen fertilizer at RMB 2,138,929 thousand, compound fertilizer at RMB 4,646,628 thousand, and phosphorus fertilizer at RMB 3,962,656 thousand[116]. Operational Developments - The company plans to strictly implement national policies on fertilizer supply and price stability, focusing on technological innovation and green planting strategies in the second half of 2022[19]. - A new 100,000-ton fertilizer project by a subsidiary has been completed and is now in production, supporting regional agricultural transformation[24]. - The company is collaborating with Syngenta Group to conduct coordinated trials in multiple provinces, enhancing the value creation through strategic synergy[26]. - The company has been actively promoting green agricultural planting technologies, including integrated water and fertilizer management[41]. - The company is enhancing its digital marketing projects and channel digitization to increase market share in the agricultural potassium sector[33]. Research and Development - The company aims to enhance its R&D capabilities, focusing on biostimulants and soil health to improve nutrient utilization rates and promote high-quality crop production[29]. - The company is actively investing in the research and development of new fertilizers and production capacity to meet sustainable agricultural development goals[38]. - The company has implemented a "Soil Health + Strategy" aimed at promoting sustainable agricultural practices and ensuring food security[44]. Risk Management and Compliance - The internal control and risk management system has been enhanced to meet compliance requirements from domestic and international regulatory bodies[42]. - The company emphasizes a "stable operation and healthy development" risk management culture, integrating risk management into business processes[42]. - The company is actively addressing operational risks such as the ongoing COVID-19 pandemic and global economic slowdown, while enhancing its core business and exploring new growth avenues[80]. Financial Position and Liabilities - As of June 30, 2022, the company's cash and cash equivalents of RMB 2.879 billion, primarily held in RMB and USD[75]. - The total interest-bearing liabilities as of June 30, 2022, amounted to RMB 1.622 billion, an increase from RMB 1.094 billion as of December 31, 2021[76]. - The company's total liabilities decreased to RMB 5,887,384 thousand as of June 30, 2022, from RMB 8,003,318 thousand at the end of the previous year[107]. - The company has unused bank credit facilities amounting to RMB 2.7305 billion, including USD 703 million and RMB 2.2585 billion[80]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance transparency and accountability[185]. - The audit committee reviewed the financial statements for the six months ending June 30, 2022, including discussions on audit, risk management, and internal controls[188]. - The board of directors includes Mr. Tan Hengde as CEO and J. Erik Fyrwald as chairman, with independent directors present for governance compliance[191].

Company Overview - Sinofert Holdings Limited is a leading distributor of crop nutrition products in China, with a significant market presence in both production and importation[13]. - The company aims to become the most innovative leader in China's crop nutrition industry, focusing on sustainable growth and shareholder value[13]. - Sinofert has a comprehensive distribution network, which is a key factor in its operational success[13]. - The company is actively involved in the research and development of new crop nutrition technologies to meet market demands[13]. - Sinofert's phosphate mining resources rank among the top in China, contributing to its production capabilities[13]. Financial Performance - The company reported a revenue increase of 15% year-on-year, reaching approximately HKD 10 billion in 2021[8]. - In 2021, the company's profit attributable to shareholders reached RMB 866.61 million, a year-on-year increase of 35%[23]. - The operating revenue for 2021 was RMB 22.64 billion, compared to RMB 21.38 billion in 2020, reflecting a growth of approximately 5.87%[18]. - The company achieved a revenue of RMB 22.641 billion for the year ended December 31, 2021, representing a year-on-year increase of 5.89%[44]. - The profit attributable to shareholders was RMB 867 million, a significant year-on-year increase of 34.63%[44]. Product Development and Innovation - The company is committed to fulfilling its social responsibilities while pursuing business growth[13]. - The company has established a robust agricultural technology service system aimed at supporting farmers[13]. - The company successfully launched the self-developed biostimulant "Youcuilu," which significantly promotes crop growth and increases nutrient utilization rates[32]. - The company has developed and launched the "GHM" granular fertilizer, which enhances rice yield and resilience against adverse conditions[35]. - The company has initiated a new generation of specialty fertilizers and microbial agents research and production service platform, improving domestic production technology[35]. Market Strategy and Expansion - The company plans to expand its market presence through strategic acquisitions and partnerships in the agricultural sector[13]. - The company plans to continue focusing on strategic procurement and marketing system construction for agricultural and industrial customers in 2022[25]. - The company aims to expand its user base for digital platforms "Nong Xiao Hui" and "Nong Da Quan" to enhance channel value[25]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[134]. - A strategic acquisition of a local competitor is anticipated to enhance distribution capabilities and increase market penetration[132]. Research and Development - The company has established a national-level R&D platform in collaboration with the Chinese Academy of Agricultural Sciences, marking a significant milestone in its R&D capabilities[25]. - The company’s R&D capabilities were upgraded, with over 1 million tons of R&D results converted into sales for the first time, with a notable increase in the proportion of differentiated products such as biological fertilizers and specialty fertilizers[44]. - The group established a research and development center in Linyi to innovate new high-efficiency fertilizers, collaborating with the Chinese Academy of Agricultural Sciences and Belarusian Potash Company[63]. - Research and development investments increased by 30%, totaling $50 million, aimed at developing sustainable agricultural technologies[137]. - The company invested in Beijing Aerospace Hengfeng Technology Development Co., Ltd. to enhance research and development capabilities in microbial agents, supporting the acceleration of bio-fertilizer product development[57]. Sustainability and Environmental Initiatives - The company is committed to promoting green sustainable development and contributing to national carbon peak and carbon neutrality goals[45]. - The company actively engaged in environmental protection initiatives, achieving the title of "National Green Factory" due to its efforts in waste management and clean production[38]. - The management team emphasized a commitment to sustainability, aiming for a 50% reduction in carbon emissions by 2030[137]. - The company is committed to adhering to environmental regulations and enhancing its ecological and environmental protection efforts[108]. - The group is focusing on soil health and has established an ecological cooperation relationship with relevant national departments and research institutions[64]. Corporate Governance - The company has adopted the corporate governance code and has complied with its provisions, with minor deviations noted[141]. - The board of directors consists of seven members, including three executive directors and three independent non-executive directors[144]. - The company ensures that all directors receive training on new regulations and information relevant to their roles[167]. - The board held four meetings during the year ending December 31, 2021, with a 100% attendance rate from all executive and independent non-executive directors[170]. - The company has implemented a written guideline for employees that mirrors the strict terms of the standard code[143]. Employee Development and Diversity - The group employed approximately 4,499 full-time employees as of December 31, 2021, with compensation determined based on market levels[119]. - The group conducted training for approximately 3,509 individuals, totaling around 36,284 hours of training, covering various topics to enhance management skills and overall employee quality[179]. - The company plans to appoint a female director by February 2024 to promote gender diversity on the board[186]. - The board consists of 7 members, with 4 having less than 5 years of tenure, 3 having over 10 years, and a focus on maintaining a diverse skill set[187]. - The company has implemented training programs for both male and female employees to prepare them for potential board positions[186].

中化化肥控股有限公司 SINOFERT HOLDINGS LIMITED （ 於 百 慕 速 註 冊 成 立 之 有 限 公 司 ） 股份代號：297 8中國 現代農業 共同成長 2019 中 期 報 告 SINOFERT HOLDINGS LIMITED INTERIM REPORT 2018 1 公司資料 2 主席致辭 3 經營管理回顧與展望 5 管理層討論與分析 13 大事記 28 中期審閱報告 29 綜合損益及其他全面收益表 30 綜合財務狀況表 32 綜合權益變動表 34 簡明綜合現金流量表 36 簡明綜合財務報表附註 37 附加資料 59 目 錄 | --- | --- | --- | |-----------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------- ...