Financial Performance - The company's operating revenue for 2021 was CNY 63.25 billion, a 21.37% increase from 2020[13]. - Net profit attributable to shareholders reached CNY 3.64 billion, up 1238.77% compared to the previous year[13]. - The net profit after deducting non-recurring gains and losses was CNY 3.51 billion, reflecting a significant increase of 7,237.50% year-on-year[13]. - The net cash flow from operating activities was CNY 7.75 billion, a 69.76% increase from 2020[13]. - The company's total assets at the end of 2021 were CNY 53.14 billion, a slight increase of 0.29% from the previous year[13]. - Basic earnings per share for 2021 were CNY 1.9819, a 942.01% increase from 2020[14]. - The weighted average return on equity rose to 43.76%, an increase of 37.73 percentage points compared to 2020[14]. - The company reported a significant increase in operating profit to 5.133 billion yuan, a rise of 662.00% compared to the previous year, and total profit of 4.870 billion yuan, up 663.06% year-on-year[21]. - The company achieved total revenue of 63.249 billion yuan, an increase of 21.37% year-on-year, and a net profit attributable to shareholders of 3.642 billion yuan, up 1,238.77% year-on-year[21]. Governance and Compliance - The company has a comprehensive governance structure in place, ensuring accountability and transparency[3]. - The audit report issued by Xinyong Zhonghe Accounting Firm confirmed the financial statements were free from material misstatements[3]. - The company has not engaged in non-operational fund occupation by controlling shareholders or related parties[3]. - There were no violations of decision-making procedures regarding external guarantees[3]. - The company’s financial report is guaranteed to be true, accurate, and complete by the management team[3]. - The company has been recognized as a model enterprise for corporate governance, enhancing decision-making processes and transparency in operations[106]. - The company continues to focus on enhancing its governance practices and ensuring transparency in its operations[124]. - The company has established a management system for significant matters in subsidiaries, improving oversight and operational vitality[111]. - The company has implemented a restricted stock incentive plan in 2018, granting 106.2958 million shares at a price of 2.62 yuan per share to 930 individuals[141]. Risk Management - The company faces significant risks including safety and environmental risks, as well as market risks[3]. - The company is committed to addressing major risks as outlined in the report, particularly in safety and environmental areas[3]. - The company faces challenges such as high levels of interest-bearing debt and the need for increased investment in transformation projects, which will test its financial management capabilities[22]. - Raw material price volatility significantly affects the company's profit stability, with strategies including centralized procurement and market price forecasting to control costs[103]. - The company is committed to high standards of safety and environmental protection, implementing comprehensive safety management and monitoring systems to comply with new regulations[104]. Environmental Management - The company achieved zero industrial wastewater discharge since July 2015, with all wastewater being reused[153]. - The company’s wastewater discharge complies with national standards, with COD limits of ≤80 mg/L and ammonia nitrogen limits of ≤25 mg/L for specific discharge points[151]. - The company has implemented strict measures to ensure that wastewater is treated and reused, resulting in no external discharge[158]. - The company has established a comprehensive environmental monitoring system, with pollutant discharge information publicly available for community oversight[177]. - The company has made significant investments in wastewater recycling and resource utilization projects to minimize environmental impact[184]. - The company reported a total pollutant discharge for Yunnan Shuifu Yuntianhua Co., Ltd. in 2021, with actual emissions of 54.09 tons for COD, 1.93 tons for ammonia nitrogen, 417.38 tons for SO2, 666.04 tons for NOx, and 48.94 tons for particulate matter[152]. Production Capacity and Market Position - The company’s phosphate fertilizer production capacity ranks second in China and fourth globally, with a domestic market share of approximately 27% for diammonium phosphate, the highest in the country[25]. - The company’s urea production capacity is 2 million tons, with a market share of about 50% in the Yunnan region, demonstrating strong regional influence[25]. - The company’s polyoxymethylene production capacity ranks first in China, with a domestic market share of around 20% and a leading position in the domestic market[25]. - The total production capacity of fertilizers is approximately 8.83 million tons per year, including 5.55 million tons of phosphate fertilizers, 1.28 million tons of compound fertilizers, and 2 million tons of urea, making the company one of the largest phosphate fertilizer producers in China[56]. - The company produced 12.39 million tons of phosphate rock in 2021, contributing to its status as one of the largest phosphate mining and selection enterprises in China[57]. Research and Development - Research and development expenses surged by 88.29% to approximately CNY 151.57 million, reflecting increased investment in innovation[28]. - The company is focusing on developing modern agriculture with highland characteristics, including projects in plant nutrition and internet platforms, as well as highland specialty fruits and vegetables[56]. - The company is actively transitioning from traditional trade logistics to supply chain operations, integrating various flows to enhance value[99]. - The company is developing high-value inorganic fluorides and high-end specialty chemicals to extend its fluorine industry chain[99]. Strategic Initiatives - The company is accelerating its industrial transformation, with a focus on new energy projects, including a 500,000-ton annual production capacity for iron phosphate and various other chemical projects[21]. - The company plans to invest in a new project for the construction of a 500,000 tons/year battery precursor and supporting facilities[112]. - The company is actively pursuing strategies for market expansion and potential acquisitions to drive future growth[111]. - The company aims to enhance its supply chain efficiency, aiming to reduce costs by 8% over the next year[118]. Shareholder Engagement - The board of directors approved the profit distribution plan on March 29, 2022, which is pending shareholder approval[3]. - The company held multiple temporary shareholder meetings throughout 2021 to discuss various proposals, including financing guarantees and stock repurchase plans[112]. - The company emphasizes investor communication and transparency, increasing engagement through various channels and enhancing information disclosure practices[106]. Employee Management - The company has a total of 4,567,800 shares held by its executives at the end of the reporting period[115]. - The total remuneration for all directors, supervisors, and senior management personnel in 2021 amounted to 7.0971 million yuan[123]. - The company has 210 employees in the parent company and 11,169 employees in major subsidiaries, totaling 11,379 employees[135]. - The company has a strict performance evaluation system for management, with non-compliance resulting in penalties or dismissal[111].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥16,701,939,454.40, representing a year-on-year increase of 17.18%[4] - Net profit attributable to shareholders for the same period was ¥1,268,348,857.34, a significant increase of 895.76% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥1,234,716,939.59, reflecting a year-on-year increase of 1,566.44%[4] - The basic earnings per share for Q3 2021 was ¥0.6902, up 675.58% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥47.63 billion, a 19.5% increase from ¥39.91 billion in the same period of 2020[16] - Net profit for the first three quarters of 2021 was ¥3.33 billion, compared to ¥180.57 million in the same period of 2020, reflecting a significant increase[17] - Operating profit for the first three quarters of 2021 was ¥3.83 billion, up from ¥358.57 million in the same period of 2020[17] - The company reported a comprehensive income total of ¥3.38 billion for the third quarter of 2021, significantly higher than ¥185.14 million in the same quarter of 2020[18] Shareholder Equity and Assets - The weighted average return on equity increased by 33.62 percentage points to 35.98% by the end of the reporting period[5] - Total assets at the end of Q3 2021 amounted to ¥56,129,666,971.89, a 5.93% increase from the end of the previous year[5] - The equity attributable to shareholders increased by 45.58% to ¥9,359,719,275.42 compared to the previous year[5] - The total equity attributable to shareholders of the parent company increased to ¥9.36 billion from ¥6.43 billion year-over-year[16] - Shareholders' equity totaled approximately ¥8.54 billion, with equity attributable to the parent company at about ¥6.43 billion[26] Cash Flow and Liabilities - The net cash flow from operating activities for the year-to-date was ¥4,820,782,461.33, showing a 59.65% increase[7] - The company's operating cash flow for the first three quarters of 2021 was approximately ¥4.82 billion, an increase of 59.7% compared to ¥3.02 billion in the same period of 2020[20] - Total cash inflow from operating activities reached ¥52.96 billion, up 20.5% from ¥44.10 billion in the first three quarters of 2020[20] - Cash outflow for purchasing goods and services was ¥44.01 billion, compared to ¥37.40 billion in the same period last year, reflecting a 17.6% increase[20] - The total liabilities as of the end of the third quarter of 2021 were ¥44.42 billion, slightly down from ¥44.44 billion at the end of the previous year[16] - Current liabilities reached approximately ¥38.73 billion, with short-term borrowings accounting for about ¥27.92 billion[25] - The company's total liabilities as of September 30, 2021, were RMB 36,941,104,372.45, compared to RMB 38,731,362,437.42 at the end of 2020, reflecting a decrease of about 4.6%[13] Investments and Expenses - Research and development expenses increased to ¥71.66 million in the first three quarters of 2021, compared to ¥47.96 million in the same period of 2020, indicating a focus on innovation[16] - The company's long-term borrowings increased to ¥5.24 billion from ¥3.30 billion year-over-year, indicating potential expansion or investment activities[16] - Cash paid for fixed assets and intangible assets was ¥818.23 million, significantly higher than ¥446.59 million in the previous year[21] - The company received cash from investment income amounting to ¥41.46 million, compared to ¥0.52 million in the same period last year[21] Operational Efficiency - The company attributed the profit increase to rising fertilizer prices and improved operational efficiency[7] - The company's cash and cash equivalents amounted to RMB 11,661,945,656.05, up from RMB 9,845,249,856.05 in December 2020, indicating a growth of about 18.4%[12] - The total current assets increased to RMB 26,696,748,495.92 from RMB 23,244,880,187.42, reflecting a rise of approximately 14.4%[12] - The company's inventory increased to RMB 6,366,016,761.87 from RMB 6,014,500,797.73, representing a growth of about 5.9%[12] - The company's other receivables increased to RMB 113,203,614.57 from RMB 35,696,457.89, a significant rise of approximately 216.5%[12] - The company's contract liabilities increased to RMB 3,477,124,328.21 from RMB 2,581,912,165.88, representing a growth of about 34.7%[13]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2021, representing a year-on-year growth of 15%[11] - The company's operating revenue for the first half of 2021 was ¥30,930,183,700.29, representing a 20.56% increase compared to ¥25,655,156,610.01 in the same period last year[17] - The net profit attributable to shareholders was ¥1,572,000,233.34, a significant recovery from a loss of ¥21,509,796.79 in the previous year[17] - The net cash flow from operating activities increased by 31.19% to ¥2,503,241,003.76 from ¥1,908,146,939.84 year-on-year[17] - The company reported a net profit margin of approximately 10.5% for the first half of 2021, compared to 9.8% in the same period of 2020, indicating an improvement of about 7.14%[155] - The company reported a significant increase in other comprehensive income, amounting to 270,704,244.89[171] - The total comprehensive income amounts to approximately CNY 1.79 billion, a significant increase from CNY 80.92 million in the prior period[162] Market Expansion and Product Development - The company has set a future outlook with a revenue target of 2.5 billion CNY for the full year 2021, which would mark a 10% increase from 2020[11] - New product development includes the launch of a high-efficiency fertilizer line, expected to contribute an additional 200 million CNY in revenue by the end of 2021[11] - The company is expanding its market presence, targeting a 30% increase in distribution channels across the southern region of China by the end of 2021[11] - The company is developing new projects including industrial-grade phosphoric acid and food-grade phosphoric acid, which have not yet significantly impacted the operating performance during the reporting period[27] - The company plans to enhance its domestic market development by increasing the proportion of new products, particularly water-soluble and specialty fertilizers, to improve competitiveness and environmental quality[59] Research and Development - The company is investing 100 million CNY in R&D for sustainable agricultural technologies over the next two years[11] - Research and development expenses rose by 38.94% to ¥39.65 million, up from ¥28.54 million, driven by new projects in resource utilization and technology research[47] - The company reported a rise in research and development expenses to ¥39,648,357.39, up from ¥28,537,022.93, highlighting the company's commitment to innovation[161] Financial Stability and Management - The company has maintained a strong balance sheet with a debt-to-equity ratio of 0.5, indicating financial stability[11] - The company effectively controlled financial expenses, resulting in a 25.51% decrease to ¥649.23 million from ¥871.61 million in the previous year[47] - The company has a total of 9,940,040,100 in guarantees to subsidiaries at the end of the reporting period[141] - The company has no overdue guarantees and has fulfilled all guarantee obligations[143] Environmental Compliance and Initiatives - The company emphasizes the importance of safety and environmental protection, ensuring compliance with new regulations and enhancing monitoring and supervision mechanisms[61] - The company has implemented a comprehensive waste recycling strategy, achieving 100% recovery of solid waste from boiler slag[95] - The company reported actual emissions for the first half of 2021: COD at 22.46 tons, ammonia at 1.36 tons, SO2 at 206.78 tons, NOx at 339.97 tons, and particulate matter at 25.33 tons, all within permitted limits[74] - The company has implemented an online monitoring system for real-time pollution discharge tracking, ensuring compliance with local environmental regulations[109] Subsidiary Performance - The company reported a revenue of 2,058.51 million yuan and a profit of 166.86 million yuan from its wholly-owned subsidiary, United Commerce, during the reporting period[58] - The company’s subsidiary, Tianan Chemical, achieved a revenue of 2,677.08 million yuan and a profit of 343.23 million yuan, marking a significant turnaround from losses[58] - The company’s subsidiary, Jinxin Chemical, reported a revenue of 1,168.94 million yuan and a profit of 219.48 million yuan, with improved cost management contributing to profit growth[58] Shareholder and Equity Management - The company issued 412,197,201 new shares, increasing total shares from 1,425,916,538 to 1,838,113,739[145] - The total number of ordinary shareholders reached 70,329 by the end of the reporting period[147] - The company has repurchased 17.74 million shares, which is 0.965% of the total share capital, and lent these shares to China Securities Finance Corporation[150] Legal and Regulatory Matters - The company is involved in significant litigation, including a contract dispute with a total claim amount of RMB 186.95 million, currently under appeal[129] - The company has a pending case involving a claim of RMB 54.59 million against Tianjin Wuzhi International Trade Co., with a first-instance judgment in favor of the company[130] Strategic Initiatives - The company is actively pursuing the development of new materials and new energy sectors, with ongoing projects including a 20,000 tons/year electronic-grade hydrogen fluoride project expected to be operational by the end of the year[45] - The company has implemented a "Double Hundred Action" reform, enhancing overall efficiency and maintaining stable operation of major production facilities, which has improved product cost competitiveness[42]

Financial Performance - The company reported a negative cumulative profit distribution for the year 2020, resulting in no profit distribution or capital reserve increase in share capital [5]. - In 2020, the company's operating revenue was approximately ¥52.11 billion, a decrease of 3.46% compared to ¥53.98 billion in 2019 [16]. - The net profit attributable to shareholders increased to approximately ¥272 million, up 79.09% from ¥151.90 million in 2019 [16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥47.85 million, a significant recovery from a loss of ¥124.42 million in 2019 [16]. - The company's net cash flow from operating activities was approximately ¥4.56 billion, an increase of 9.23% from ¥4.18 billion in 2019 [16]. - The total assets decreased to approximately ¥52.99 billion, down 11.68% from ¥59.99 billion in 2019 [16]. - The net assets attributable to shareholders increased to approximately ¥6.43 billion, a rise of 46.85% from ¥4.38 billion in 2019 [16]. - Basic earnings per share rose to ¥0.1902, an increase of 78.76% compared to ¥0.1064 in 2019 [17]. - The weighted average return on net assets increased to 6.03%, up 2.39 percentage points from 3.64% in 2019 [17]. - The company achieved a significant reduction in management and financial expenses, with total expenses decreasing by approximately ¥20.90 million year-on-year [17]. Audit and Compliance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm [4]. - The company has no non-operating fund occupation by controlling shareholders or related parties [6]. - The company has no violations in decision-making procedures for providing guarantees [6]. - The company has not faced any risks of suspension or termination of its stock listing during the reporting period [136]. - The company has not reported any significant changes in accounting estimates during the year [133]. - The company has no major litigation or arbitration matters pending during the reporting period [135]. Risks and Challenges - The company faces significant risks including safety and environmental risks, as well as market risks [7]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements [6]. Production and Capacity - The company has a production capacity of 2.08 million tons/year for synthetic ammonia, with a self-sufficiency rate exceeding 95% [34]. - The company operates advanced large-scale fertilizer production facilities, focusing on the production and sales of phosphate fertilizers, urea, and compound fertilizers [24]. - The company has a significant resource advantage with phosphate reserves and annual mining capacity ranking among the top in the country [34]. - The company’s total fertilizer production capacity is approximately 8.81 million tons per year, with phosphate fertilizer capacity at 5.55 million tons, making it one of the largest phosphate fertilizer producers in China [69]. - The company has expanded its synthetic ammonia capacity to 2.08 million tons and urea capacity to 2 million tons, enhancing its industrial synergy [35]. Sales and Revenue - The company achieved a total revenue of ¥34,524,804,443.70 from domestic regions, a decrease of 3.38% year-on-year, with a gross margin decline of 1.30 percentage points to 15.95% [41]. - The total revenue from foreign regions was ¥16,885,640,564.31, also showing a decrease of 3.94% year-on-year, but with a slight gross margin increase of 0.17 percentage points to 3.83% [41]. - The company’s marketing strategy capitalized on market recovery, resulting in increased sales volume and price for its products [35]. Research and Development - Research and development efforts led to the introduction of new products such as modified asphalt and flame retardants, with a focus on industrialization and market positioning [36]. - The company is developing new products in fine chemicals, including food-grade phosphoric acid and lithium hexafluorophosphate, although these projects did not significantly impact the 2020 operating performance [31]. - The company has developed new products in functional fertilizers, including potassium phosphite liquid fertilizer and five new DAP and NPK products, with total production and sales exceeding 70,000 tons [81]. Environmental Compliance - The company ensured compliance with pollution discharge standards, with all pollutant emissions within regulatory limits during the reporting period [165]. - The company achieved zero discharge of industrial wastewater since July 2015, indicating a strong commitment to environmental standards [166]. - The company has implemented strict adherence to pollution discharge standards as per the pollution discharge permit requirements [166]. - The company reported a significant reduction in actual emissions across various pollutants compared to the allowable limits, demonstrating effective environmental management practices [166]. Social Responsibility - The company has actively participated in poverty alleviation efforts, focusing on improving living conditions and industrial development in targeted areas [157]. - The company has committed to social responsibility by encouraging employees to engage in public welfare activities and contribute to community stability [157]. - A total of 134.48 million yuan was invested in poverty alleviation projects, with 850.4 million yuan in material donations [160]. - The company helped 6,813 registered impoverished individuals to escape poverty through various initiatives [161]. Future Plans - The company plans to enhance its financial management capabilities and shift from "accounting-based" to "value-creating" management [118]. - The company aims to maintain a safety production injury rate of ≤0.5‰ and achieve "zero deaths" in safety production for 2021 [118]. - The company plans to enhance the efficiency of its production facilities and continue to focus on long-cycle operations to improve profitability [44]. - The company aims to strengthen infrastructure and industry support to consolidate poverty alleviation results and contribute to rural revitalization strategies [162].

Financial Performance - Net profit attributable to shareholders decreased by 21.26% to CNY 105.86 million year-on-year[5] - Operating revenue for the first nine months was CNY 39.91 billion, down 2.86% from the same period last year[5] - Basic earnings per share decreased by 21.44% to CNY 0.0740[5] - The company reported a weighted average return on equity of 2.36%, down 0.60 percentage points from the previous year[5] - Total revenue for Q3 2020 reached ¥14,253,023,383.93, an increase from ¥12,682,757,592.47 in Q3 2019, representing a growth of approximately 12.4%[24] - The net profit for Q3 2020 was ¥197,763,561.04, a significant increase from ¥65,395,109.04 in Q3 2019, reflecting a growth of approximately 201.5%[25] - The company's operating revenue for Q3 2020 was ¥4,127,021,045.95, a decrease of 9.5% compared to ¥4,558,163,176.72 in Q3 2019[28] - The net profit attributable to shareholders for Q3 2020 was ¥127,374,451.08, significantly up from ¥7,775,653.07 in Q3 2019, marking an increase of 1,537.5%[27] Asset and Liability Changes - Total assets decreased by 9.38% to CNY 54.37 billion compared to the end of the previous year[5] - Total assets decreased from 59,995,281,909.65 to 54,369,561,480.50, a decline of approximately 9.1%[18] - Non-current liabilities decreased from 6,151,948,198.05 to 4,516,802,897.91, a reduction of about 26.5%[19] - Current liabilities decreased from 47,320,644,217.45 to 43,266,849,373.60, a decrease of approximately 8.6%[19] - Total liabilities decreased from 53,472,592,415.50 to 47,783,652,271.51, a reduction of about 10.7%[19] - The company's equity increased from 6,522,689,494.15 to 6,585,909,208.99, an increase of approximately 1.0%[19] - Cash and cash equivalents decreased from 3,228,495,377.06 to 2,118,275,490.22, a decline of about 34.5%[20] - Accounts receivable decreased from 2,037,671,263.03 to 1,375,570,292.78, a reduction of approximately 32.5%[20] - Inventory increased from 665,993,522.52 to 712,296,536.80, an increase of about 6.9%[20] Cash Flow Analysis - Net cash flow from operating activities for the first nine months was CNY 3.02 billion, a decrease of 1.67% year-on-year[5] - Cash flow from financing activities showed a net outflow of ¥3,785,181,522.65, indicating a reduction in external financing[13] - The total cash inflow from operating activities for the first three quarters of 2020 was CNY 44,096,602,533.69, compared to CNY 43,829,830,542.74 in the same period of 2019, representing an increase of approximately 0.61%[31] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 3,019,606,304.88, slightly down from CNY 3,070,831,014.09 in 2019, indicating a decrease of about 1.67%[31] - The cash outflow from investment activities in the first three quarters of 2020 was CNY 961,369,510.08, compared to CNY 811,531,830.98 in 2019, reflecting an increase of approximately 18.43%[33] - The net cash flow from financing activities for the first three quarters of 2020 was -CNY 3,785,181,522.65, worsening from -CNY 2,915,678,308.27 in 2019, indicating a decline of about 29.73%[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 44,614[8] - The largest shareholder, Yuntianhua Group, holds 43.27% of the shares, with 617,022,121 shares pledged[7] Investment and Acquisitions - The company plans to raise up to ¥1,900,229,100 through a non-public stock issuance, which has been approved by the Yunnan State-owned Assets Supervision and Administration Commission[14] - The company acquired 93.89% of Yunnan Dawi Ammonia Co., Ltd. for a total consideration of ¥937,758,100[14] - Investment income increased by 76.16% to ¥174,002,204.97, driven by improved performance of associated companies[13] Government Support - Government subsidies recognized in the first nine months amounted to CNY 148.33 million[6] Other Financial Metrics - Financial expenses decreased by 31.83% to ¥1,261,890,882.45 as the company improved capital management and reduced loan scales[13] - Non-recurring gains and losses totaled CNY 53.28 million for the third quarter[6] - Research and development expenses for Q3 2020 amounted to ¥19,424,269.31, up from ¥15,457,815.28 in Q3 2019, marking an increase of about 25.7%[24]