1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 2018 年第三季度报告 公司代码：600876 公司简称：洛阳玻璃 洛阳玻璃股份有限公司 2018 年第三季度报告 1 / 16 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2018 年第三季度报告 一、 重要提示 1.3 公司负责人张冲、主管会计工作负责人马炎及会计机构负责人（会计主管人员）陈静保证季 度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | | 上年度末 | | 本报告期末比 | | --- | --- | --- | --- | --- | | | 本报告期末 | 调整后 | 调整前 | 上年度末增减 | | | | | | ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 702,362,390.74, a decrease of 0.30% compared to CNY 704,459,882.70 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 21,977,671.03, an increase of 11.37% from CNY 19,733,938.23 in the previous year[17]. - The company reported a net profit of CNY 3,027,972.41 after deducting non-recurring gains and losses, compared to a loss of CNY 18,229,205.65 in the same period last year[17]. - The company achieved operating revenue of RMB 702,362,390.74, a year-on-year decrease of 0.30%; operating profit was RMB 37,815,921.75, an increase of 19.72%; and net profit attributable to shareholders was RMB 21,977,671.03, an increase of 11.37%[32]. - The company reported a total revenue of 115,115,830 RMB for the first half of 2018, reflecting an increase of 10,097,588 RMB compared to the previous period[86]. - The company reported a net loss of CNY 1,328,019,905.91, slightly improved from a loss of CNY 1,338,290,605.36 in the previous period[96]. - The company reported a total comprehensive income of CNY 43,273,435.79 for the current period[118]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 75,340,564.25, improving from negative CNY 253,446,524.14 in the same period last year[18]. - Cash and cash equivalents at the end of the period amounted to RMB 101,558,855.57, with certain amounts restricted due to bank guarantees and pledges[38]. - The company’s cash and cash equivalents amounted to RMB 77,602,290.74 as of June 30, 2018, a decrease of RMB 121,195,497.34 compared to RMB 198,797,788.08 at the end of 2017[46]. - The company raised CNY 668,710,823.26 from financing activities, a decrease of 37.0% compared to CNY 1,062,661,432.90 in the previous year[108]. - The ending balance of cash and cash equivalents was 20,026,381.07 RMB, a significant decrease from 40,744,724.85 RMB, representing a drop of approximately 50.9%[111]. - The company experienced a net decrease in cash and cash equivalents of -31,318,408.00 RMB, compared to -24,092,524.44 RMB in the previous period, indicating a worsening cash position[111]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,886,034,474.06, a decrease of 2.81% from CNY 3,998,223,959.03 at the end of the previous year[18]. - The company’s asset-liability ratio decreased by 1.40 percentage points to 64.93% compared to the beginning of the period[32]. - The company reported a capital debt ratio of 193.68% as of June 30, 2018, down from 216.78% at the end of 2017[46]. - The total liabilities decreased to CNY 2,523,205,250.53 from CNY 2,652,035,004.93, a reduction of about 4.9%[96]. - The total current assets decreased to CNY 1,312,511,881.24 from CNY 1,560,729,759.37, a decline of approximately 16%[95]. - The total equity attributable to shareholders increased to CNY 1,262,704,496.44 from CNY 1,131,687,647.58, reflecting an increase of approximately 11.6%[96]. Research and Development - Research and development expenses increased by 34.03% to RMB 38,443,281.67 from RMB 28,683,561.88, indicating a stronger focus on innovation[35]. - The company has developed a new ultra-thin float electronic glass with a thickness of 0.12mm, setting a world record for the thinnest glass in industrial production[24]. - The company is implementing a production line upgrade project for ultra-thin glass to optimize production processes and improve core equipment levels[31]. Asset Restructuring and Acquisitions - The company completed a significant asset restructuring during the reporting period, incorporating Hefei New Energy, Tongcheng New Energy, and Yixing New Energy into the consolidated financial statements[19]. - The company completed the acquisition of three new energy photovoltaic glass companies, enhancing its product structure and business scope[24]. - The company completed a major asset restructuring, acquiring 100% equity in Hefei New Energy and other subsidiaries to expand its photovoltaic glass business[39]. - The company completed the acquisition of 100% equity in Hefei New Energy, Tongcheng New Energy, and 70.99% equity in Yixing New Energy on April 13, 2018, with a total of 18,330,516 new shares issued as part of the transaction[63]. Shareholder and Equity Information - The total share capital increased to 559,797,391 shares by the end of the reporting period[121]. - The largest shareholder, HKSCC NOMINEES LIMITED, holds 248,680,699 shares, representing 44.42% of total shares[85]. - The company anticipates continued growth in shareholder equity due to the recent share issuance and restructuring efforts[80]. - The company has a total of 25,097,588 shares under limited sale conditions, which will become tradable on December 29, 2018, with 15,000,000 shares available for trading after a 36-month lock-up period[88]. Compliance and Regulatory Matters - The company has established a leadership group for energy conservation and emission reduction, implementing measures to improve energy efficiency and reduce pollutant emissions in glass production[67]. - The company has obtained the necessary environmental permits for its projects, ensuring compliance with environmental regulations[69]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[126]. - The company adopted new revenue recognition standards effective January 1, 2018, shifting from risk and reward transfer to control transfer as the basis for revenue recognition[182]. Risks and Challenges - The company faces risks related to raw material price fluctuations, which significantly impact production costs[43]. - The company’s photovoltaic glass products are influenced by macroeconomic conditions and industry policies, with potential fluctuations in market demand[25]. - The company is actively managing financial risks, including credit and liquidity risks, to ensure operational stability[44].

Financial Performance - Net profit attributable to shareholders was CNY 4,066,624.86, down 66.96% year-on-year[6] - Operating revenue for the period was CNY 242,130,605.33, representing a decline of 10.95% compared to the same period last year[6] - Basic earnings per share were CNY 0.0074, a decrease of 67.11% compared to CNY 0.0225 in the same period last year[6] - Net profit for the period was CNY 5,495,305.44, a decline of 61.49% compared to CNY 14,266,231.73 in the same period last year[27] - Operating revenue for Q1 2018 was CNY 41,982,264.15, an increase of 25.9% compared to CNY 33,313,480.41 in the same period last year[28] - Net profit for Q1 2018 reached CNY 51,399,321.22, a significant turnaround from a net loss of CNY 4,441,191.23 in Q1 2017[28] Cash Flow - The net cash flow from operating activities was CNY -27,530,182.16, indicating a significant decrease from CNY -81,565,355.47 in the previous year[6] - Cash flow from operating activities showed a net outflow of CNY 27,530,182.16, an improvement from a net outflow of CNY 81,565,355.47 in the same quarter last year[30] - The net cash flow from operating activities for Q1 2018 was ¥49,737,119.35, a significant improvement compared to the net outflow of ¥34,409,461.44 in the same period last year, indicating a turnaround in operational performance[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,011,943,364.1, a decrease of 5.21% compared to the previous year[6] - Total liabilities increased to CNY 2,479,353,890.38 from CNY 2,168,549,145.31[21] - The company's total assets increased to CNY 1,829,989,233.66 from CNY 1,286,463,393.67, reflecting a growth of 42.41%[24] - The total liabilities increased to CNY 1,328,031,812.68 from CNY 835,905,293.91, marking a rise of 58.83%[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 58,178, with 58,132 being A-share holders[12] - The top shareholder, HKSCC NOMINEES LIMITED, held 248,680,699 shares, accounting for 47.21% of the total shares[12] Other Financial Metrics - The weighted average return on net assets decreased by 0.99 percentage points to 0.42%[6] - The company recognized non-recurring gains and losses totaling CNY 11,289,103.49 during the reporting period[10] - Accounts receivable decreased by 50.58% to ¥173,295,082.75 from ¥350,660,473.07[15] - Inventory increased by 30.31% to ¥201,744,747.88 from ¥154,822,339.07[15] - Construction in progress rose by 58.06% to ¥191,143,151.78 from ¥120,932,797.62[15] - Other payables increased by 105.14% to ¥765,076,114.96 from ¥372,958,435.60, primarily due to asset restructuring[15] - Sales expenses decreased by 32.10% to ¥6,537,832.56 from ¥9,628,134.03, reflecting a decline in sales volume[15] - Financial expenses increased by 55.06% to ¥18,109,021.29 from ¥11,678,750.48, attributed to higher borrowing interest and discount expenses[15]

Financial Performance - In 2017, the company achieved a revenue of approximately CNY 367.05 million, a decrease of 6.39% compared to CNY 392.10 million in 2016[22] - The net profit attributable to shareholders was CNY 20.57 million, representing a significant increase of 78.60% from CNY 11.52 million in the previous year[22] - The company reported a net cash flow from operating activities of CNY 50.45 million, an increase of 65.13% compared to CNY 30.55 million in 2016[22] - The basic earnings per share for 2017 was CNY 0.0390, up 78.08% from CNY 0.0219 in 2016[23] - The diluted earnings per share for 2017 was CNY 0.0390, an increase of 78.08% compared to the previous year[24] - The weighted average return on equity rose to 3.85%, an increase of 1.43 percentage points from the previous year[24] - The total operating revenue for Q4 2017 was CNY 105,608,772.51, with a significant increase in cash flow from operating activities to CNY 78,680,211.80[26] - The net profit attributable to shareholders for Q4 2017 was CNY 19,998,881.46, showing recovery from previous quarters[26] - The company reported non-recurring gains of CNY 64,169,598.85 for 2017, primarily from government subsidies and asset disposals[28] - The company achieved operating revenue of RMB 367,047,136.12, a decrease of 6.39% compared to the previous year[42] - The operating profit was RMB -6,494,041.11, a reduction in loss of RMB 73,523,102.02 year-on-year[42] - The company’s asset-liability ratio decreased by 2.16 percentage points to 59.28%[42] - The company reported a net cash inflow from operating activities of 50.45 million yuan, an increase of 1.99 million yuan compared to the previous year[57] - The net cash inflow from investment activities was 61.99 million yuan, a significant increase of 21.29 million yuan compared to the previous year's outflow of 150.92 million yuan[57] - The company incurred a financial expense of 295.54 million yuan, a substantial increase of 250.42% due to increased interest liabilities[55] - The company achieved a net profit of RMB 67.95 million in 2017, falling short of the performance commitment by RMB 15.30 million[94] - The net profit forecast for the company was RMB 69.68 million, indicating a shortfall of approximately 2.5% compared to the actual results[95] Assets and Liabilities - As of the end of 2017, the total assets amounted to CNY 1.37 billion, reflecting a slight increase of 1.20% from CNY 1.36 billion in 2016[22] - The net assets attributable to shareholders increased by 6.85% to CNY 559.14 million from CNY 523.27 million in 2016[22] - The company's total assets-liability ratio at the end of 2017 was 59.28%, a decrease of 2.16 percentage points from the previous year[72] - The company's current liabilities decreased by 20.85% to ¥575,017,670.56, while non-current liabilities increased by 123.08% to ¥238,975,428.91[63] - The company's accounts receivable increased to ¥86,642,392.18, representing a 6.31% increase compared to the previous year, primarily due to an increase in bill repayments[61] - The company's inventory decreased by 33.87% to ¥87,935,528.43, attributed to a reduction in inventory products[61] - The company's short-term borrowings surged by 1,730.05% to ¥366,009,000.00, mainly due to new financing[61] - The company's cash and cash equivalents amounted to ¥174,555,511.45, with 99.996% in RMB[63] - The company's total assets for the subsidiary Bengbu Zhongjian Material Co., Ltd. reached ¥1,066,867,264.00, with a net profit of ¥67,947,367.90[69] Research and Development - The company’s R&D expenditure was RMB 17,793,597.50, a decrease of 16.37% compared to the previous year[43] - The company’s major projects in research and development include four projects, with significant progress reported in the production technology of 0.15mm electronic glass[39] - The company has increased R&D investments to enhance product competitiveness and maintain sustainable profitability[94] - The company signed a technology development contract for two projects with a total contract amount of RMB 1,630 million, which includes RMB 880 million for high-strength electronic glass and RMB 750 million for wear-resistant 3D glass substrate technology research[108] Market Position and Strategy - The company achieved a domestic market share of approximately 15%-20% in the flat panel display industry during the reporting period[32] - The company plans to enhance its market position in ultra-thin glass, driven by increasing demand in various sectors including automotive and smart home applications[74] - The photovoltaic glass market is expected to grow significantly, with China's production accounting for 93% of global photovoltaic glass used in components[75] - The company aims to achieve a production target of 89.62 million square meters and revenue of RMB 1.74 billion in 2018[78] - The company will focus on cost control and efficiency improvements, targeting a year-on-year growth of over 20% in its "increase, save, reduce" initiatives in 2018[79] - The company will continue to prioritize technological innovation to improve product quality and production capacity[78] Risks and Compliance - The company faced non-operating fund occupation by controlling shareholders, indicating potential financial risks[7] - The company has outlined potential risks in its future development strategy, emphasizing the importance of risk awareness for investors[6] - The company is exposed to raw material price risks, with significant procurement costs for fuel, soda ash, and silica sand, and plans to leverage centralized purchasing to mitigate these risks[83] - New engineering project risks include funding, construction progress, and market performance, with strategies in place to ensure project quality and timely completion[84] - The company has a low credit risk due to its policy of cash on delivery for most customers, with liquidity risks managed through sufficient cash reserves and support from major shareholders[84] - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations[86] Corporate Governance and Management - The company has established measures to avoid direct or indirect competition with its subsidiaries post-restructuring, ensuring operational integrity[92] - The company has a structured approach to remuneration, considering industry standards and regional economic development[155] - The board of directors consists of 9 members, including 4 executive directors, 1 non-executive director, and 4 independent non-executive directors[164] - The supervisory board comprises 6 members, including 2 employee representatives and 2 independent supervisors, ensuring oversight of the company's operations and financial status[165] - The company emphasizes the independence of its operations, with clear separation from the controlling shareholder, ensuring independent decision-making and financial management[166] - The company has implemented a strict internal control system, with audits conducted by an external firm to ensure compliance and effectiveness[169] - The company has complied with all provisions of the Corporate Governance Code and the Corporate Governance Report during the reporting period[182] Shareholder Information - The total number of common stock shareholders reached 57,229 by the end of the reporting period, an increase from 56,329 at the end of the previous month[132] - HKSCC NOMINEES LIMITED holds 248,680,699 shares, representing 47.21% of total shares, making it the largest shareholder[134] - China Luoyang Float Glass Group Co., Ltd. holds 105,018,242 shares, accounting for 19.94% of total shares, with 15,000,000 shares under lock-up conditions[134] - The top three shareholders collectively hold 79.25% of the total shares, indicating a high concentration of ownership[134] - The company has not disclosed any related party transactions among the top shareholders[140] Social Responsibility and Environmental Impact - The company has actively fulfilled its social responsibilities, with details available in the 2017 Social Responsibility Report[115] - There are no significant environmental protection issues reported for the company or its subsidiaries[116]

Financial Performance - Operating revenue increased by 25.02% to CNY 261,438,363.61 for the period from January to September[6] - Net profit attributable to shareholders was CNY 569,179.05, a recovery from a loss of CNY -71,044,940.50 in the previous year[6] - The weighted average return on net assets was 0.11%, up from -16.55% in the same period last year[7] - Basic and diluted earnings per share were CNY 0.0011, recovering from CNY -0.1352 in the previous year[7] - The company's net loss for the period was CNY -1,411,178,158.80, compared to a loss of CNY -1,399,150,574.12 in the previous year, reflecting a slight increase in losses[23] - The total profit for the first nine months of 2017 was a loss of CNY 12,027,584.68, slightly better than the loss of CNY 13,079,579.00 in the same period of 2016, showing a reduction of 8.1%[28] - The net profit for Q3 2017 was a loss of CNY 7,412,694.11, compared to a loss of CNY 10,814,405.54 in Q3 2016, indicating an improvement of 31.8%[28] - The company's operating profit for Q3 2017 was a loss of CNY 7,412,694.11, compared to a loss of CNY 9,470,502.90 in Q3 2016, reflecting a decrease in losses of 21.7%[27] Asset and Liability Changes - Total assets decreased by 8.57% to CNY 1,240,582,927.66 compared to the end of the previous year[6] - Current assets decreased to CNY 270,657,299.40 from CNY 413,191,016.53 at the beginning of the year, a decline of approximately 34.4%[21] - Total liabilities decreased to CNY 716,744,331.65 from CNY 833,647,603.35, a reduction of about 14.0%[22] - Non-current assets increased to CNY 950,764,302.73 from CNY 813,809,564.57, showing a growth of approximately 16.8%[22] - The company's total equity as of September 30, 2017, was CNY 523,838,596.01, slightly up from CNY 523,269,416.96 at the beginning of the year[22] Cash Flow Analysis - Net cash flow from operating activities improved significantly, showing a net inflow of CNY -28,226,880.48 compared to CNY -92,860,892.88 in the same period last year[6] - Cash and cash equivalents decreased by 63.85% from CNY 157,528,516.53 to CNY 56,947,294.71 due to reduced financing and increased bill repayments[12] - Cash inflow from sales of goods and services reached ¥121,874,917.73, a significant increase of 43.4% compared to ¥85,036,124.11 in the same period last year[29] - Total cash inflow from investment activities amounted to ¥26,146,868.89, compared to ¥322,732.92 in the previous year, indicating a substantial increase[30] - Cash outflow from financing activities totaled ¥760,328,161.81, up from ¥262,918,572.84 in the same period last year, reflecting increased financing efforts[30] - The net cash flow from financing activities was -¥60,661,461.41, a decline from a positive net flow of ¥166,982,573.07 in the previous year[30] - The company reported a net cash flow from investment activities of -¥39,796,527.72, compared to -¥90,783,097.76 in the previous year, indicating improved investment performance[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 60,775[10] - The top ten shareholders held a combined 97.44% of the shares, with HKSCC NOMINEES LIMITED holding 47.21%[10] Operational Costs and Income - The company reported non-operating income of CNY 20,147,559.31 for the year-to-date period[9] - The company reported a significant decrease in other income, down 68.08% from CNY 6,289,565.87 to CNY 2,007,827.13, due to changes in accounting treatment for government subsidies[14] - Total operating costs for Q3 2017 were CNY 106,058,391.06, a decrease from CNY 115,707,313.83 year-over-year, indicating a reduction of about 8.5%[23] - The company's sales expenses for Q3 2017 were CNY 127,346.34, down from CNY 138,769.19 in Q3 2016, a decrease of 8.3%[26] - The company reported a total operating cost of CNY 63,624,990.72 in Q3 2017, compared to CNY 40,814,162.86 in Q3 2016, an increase of 55.9%[26] Financial Ratios - The total liabilities to equity ratio improved to approximately 1.37 from 1.59, indicating a stronger equity position relative to liabilities[22] - The company reported a gross profit margin of approximately 0.39% for Q3 2017, compared to a margin of 0.15% in the same quarter last year[23]