Financial Performance - The company's operating revenue for 2019 was approximately ¥53.98 billion, representing a 1.88% increase from ¥52.98 billion in 2018[14]. - Net profit attributable to shareholders for 2019 was approximately ¥151.90 million, a 23.73% increase from ¥122.77 million in 2018[14]. - The net cash flow from operating activities increased by 30.91% to approximately ¥4.18 billion in 2019, compared to ¥3.19 billion in 2018[14]. - The basic earnings per share for 2019 was ¥0.1064, up 14.53% from ¥0.0929 in 2018[15]. - The weighted average return on equity increased to 3.64% in 2019, up from 3.17% in 2018, an increase of 0.47 percentage points[15]. - In 2019, the company achieved a revenue of 53.976 billion yuan and a net profit of 1.78 billion yuan, maintaining profitability for three consecutive years[37]. - The total profit for the year was 408 million RMB, a decrease of 1.07 billion RMB compared to the previous year[42]. - The company reported a net profit attributable to ordinary shareholders of 151,897,527.09 RMB for 2019, with no dividends distributed due to negative retained earnings from 2018[135]. Market Conditions - The company faced significant risks including safety and environmental risks, as well as market risks[5]. - The domestic fertilizer market is experiencing oversupply, leading to a decline in both production and consumption of phosphate fertilizers[27]. - The overall market for yellow phosphorus has seen significant price fluctuations due to environmental regulations impacting supply[28]. - The domestic phosphate fertilizer industry faced overcapacity and intense market competition, with a significant reduction in supply due to environmental issues in seven provinces[70]. - The overall fertilizer application volume decreased due to adjustments in crop planting structure and the promotion of scientific fertilization techniques, leading to a decline in demand for agricultural fertilizers[73]. Production and Capacity - The company has advanced production facilities for fertilizers, primarily producing phosphate fertilizers, urea, and compound fertilizers, with a commitment to R&D of new fertilizer products[23]. - The company has a total fertilizer production capacity of approximately 8.67 million tons per year, including 5.32 million tons of high-concentration basic phosphate fertilizer, making it one of the largest phosphate fertilizer producers in China[75]. - The company produced 38,600 tons of yellow phosphorus in 2019, maintaining stable production amid strict environmental regulations[79]. - The company has a production capacity of 500,000 tons per year for feed-grade dicalcium phosphate, producing 404,000 tons in 2019[79]. - The company achieved a production capacity utilization rate of 101.00% for urea at the Waterfu Yuntianhua plant, with an annual capacity of 760,000 tons[98]. Research and Development - The company is focusing on R&D, with 26 technology innovation projects recognized, including the industrialization of high-purity monoammonium phosphate production[36]. - Research and development expenses increased by 42.90% to 75.15 million RMB[43]. - The company has developed new products in basic fertilizer upgrades, including enhanced diammonium phosphate and urea with bioactive enzymes and trace elements[87]. - The company has initiated several new technology development projects, including low-cost potassium sulfate production and silicon removal technology for low-grade phosphate ore[87]. Environmental and Safety Management - The company enhanced its safety and environmental management, achieving "zero deaths" and "zero pollution" in 2019[39]. - The company has received multiple green certifications, including 5 green mine titles and 14 green factory titles, reflecting its commitment to safety and environmental protection[34]. - The company is committed to achieving "zero deaths" in safety production and "zero pollution" in environmental protection, implementing new technologies for pollution control[128]. - The company’s emissions control measures resulted in no exceedances of pollutant discharge limits during the reporting period, demonstrating effective environmental management practices[189]. Strategic Initiatives - The company aims to become a world-class provider of fertilizers and modern agriculture, focusing on green and high-quality development[23]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[45]. - The company is adapting to changes in the trade and logistics environment, focusing on resource concentration and large-scale procurement to improve efficiency[126]. - The company plans to strengthen financial control by improving inventory turnover and cash flow management, with a focus on reducing debt levels[129]. Acquisitions and Investments - The company acquired a 40% stake in Inner Mongolia Dadi Yuntianhua Chemical Co., Ltd. for a negotiated price of RMB 176.825 million[29]. - The company raised a total of RMB 1 billion in capital for its subsidiary Yunnan Phosphate Group from two investors, with contributions of RMB 400 million and RMB 600 million respectively[30]. - The company completed the establishment of a wholly-owned subsidiary, Yunnan Yuntianhua Yunfeng Chemical Co., Ltd., with a registered capital of RMB 300 million[31]. - The company established a wholly-owned subsidiary, Yunnan Fushi Technology Co., Ltd., with an investment of RMB 200 million[32]. Legal and Compliance Issues - The company is involved in significant litigation matters, including a case where it seeks CNY 57.72 million in unpaid contract amounts from Tianwu International Trade Co., Ltd.[149]. - The company has initiated litigation to protect its legal rights against Zhanjiang Shanhai Chemical Co., Ltd. and has won the first instance[152]. - The total amount involved in the litigation cases is significant, indicating potential financial impacts on the company[151][152]. Social Responsibility - The company actively participates in social responsibility initiatives, including poverty alleviation efforts[175]. - A total of 50 million RMB was allocated for poverty alleviation projects, with an additional 263.3 million RMB in material contributions, helping 2,702 registered impoverished individuals to escape poverty[179]. - The company has received recognition for its poverty alleviation efforts, with a team member awarded as an advanced poverty alleviation worker in Yunnan Province[182].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥28,402,103,443.56, representing a 22.60% increase compared to ¥23,166,999,487.98 in the same period last year[7]. - The net profit attributable to shareholders of the listed company reached ¥126,670,795.24, a significant increase of 91.98% from ¥65,980,313.65 in the previous year[7]. - The net profit after deducting non-recurring gains and losses was ¥45,189,876.96, showing a substantial increase of 2,267.27% compared to ¥1,908,942.97 in the same period last year[7]. - The net cash flow from operating activities was ¥1,915,806,075.38, which is a 12.80% increase from ¥1,698,414,889.53 in the previous year[7]. - Basic earnings per share rose by 77.76% to CNY 0.0887 for the first half of the year compared to the same period last year[8]. - The weighted average return on net assets increased by 1.06 percentage points to 2.85% compared to the previous year[8]. - The company achieved a significant increase in investment income, which rose by 598.69% to approximately ¥55.69 million, attributed to improved profits from joint ventures[25]. - The total comprehensive income for the first half of 2019 was RMB 94.03 million, down from RMB 160.84 million in the previous year[113]. Risks and Challenges - The company faces significant risks including rising raw material prices and safety/environmental risks[2]. - The report includes a forward-looking statement risk declaration, indicating that future plans and strategies do not constitute a commitment to investors[2]. - The compound fertilizer industry is facing a tightening demand due to the cancellation of tax incentives, leading to a decline in industry profitability[13]. - The overall operating rate of the phosphate mining industry has decreased due to environmental policies, leading to a slight year-on-year decline in phosphate ore production[15]. - The price of phosphate ore has decreased compared to the beginning of the year, influenced by fluctuations in downstream phosphate fertilizer prices[15]. Corporate Governance and Compliance - There are no plans for profit distribution or capital reserve conversion into share capital during the reporting period[2]. - The report has not been audited, ensuring that the financial data presented is preliminary[2]. - The company has not engaged in non-operational fund occupation by controlling shareholders or related parties[2]. - The company has a comprehensive disclosure policy, with reports published in multiple financial newspapers and available on the designated website[6]. Strategic Initiatives - The company aims to become a world-class provider of fertilizers and modern agricultural products, focusing on quality and efficiency improvements[10]. - The company is transitioning from a traditional fertilizer manufacturer to an integrated service provider for fertilizers and modern agriculture[10]. - The company is actively expanding its international market presence, establishing subsidiaries in Singapore, Myanmar, and the UAE to tap into the agricultural market demand in neighboring countries[21]. - The company has implemented a market-oriented approach to strengthen sales execution, optimizing product structure and increasing new product sales[22]. Investments and Acquisitions - The company acquired a 40% stake in Inner Mongolia Dadi Yuntian Chemical Co., Ltd. for 176.825 million yuan[18]. - The company raised 1 billion yuan through market-oriented debt-to-equity swaps with investors for its subsidiary Yunnan Phosphate Group[18]. - The company invested a total of CNY 843.54 million in equity investments, including CNY 176.83 million for acquiring a 40% stake in Inner Mongolia Dadi Yuntian[32]. Environmental and Social Responsibility - The company emphasizes safety and environmental protection, with multiple subsidiaries recognized as "green mines" and "green factories"[20]. - The company has invested over 40 million yuan in local infrastructure, education, and industry development projects to support poverty alleviation efforts[77]. - The average annual income of the village has surpassed 11,500 yuan, with the poverty incidence rate dropping from 29.9% to 1.28%[77]. - The company has achieved zero discharge of production wastewater in several subsidiaries, demonstrating commitment to environmental sustainability[86]. Legal Matters - The company has ongoing litigation involving a total claim amount of RMB 49,921,100 related to unpaid fertilizer contracts with Zhanjiang Shanhai Chemical Co., Ltd. and others[54]. - The company is pursuing a lawsuit against Changzhou Shuangzhi Petroleum and Chemical Storage Co., Ltd. for RMB 186,947,894.55 regarding the right to dispose of approximately 220,000 tons of biodiesel[55]. - The company has successfully won a lawsuit against Jiamusi Sunshine Biochemical Co., Ltd. for overdue payments totaling RMB 39,721,150, with a 50% bad debt loss provision already accounted for[58]. Financial Position and Assets - The company's total assets amounted to approximately ¥65.87 billion, down from ¥67.82 billion, indicating a decrease of about 2.9%[107]. - The total liabilities decreased to approximately ¥53.81 billion from ¥55.18 billion, a decline of about 2.5%[107]. - The company's cash and cash equivalents increased to approximately ¥13.26 billion as of June 30, 2019, compared to ¥12.64 billion at the end of 2018, reflecting a growth of about 4.9%[106]. - Accounts receivable decreased to approximately ¥3.65 billion from ¥4.25 billion, representing a decline of about 14.2% year-over-year[106]. Shareholder Information - The total number of shares increased from 1,321,379,138 to 1,427,674,938 after the issuance of restricted stocks, representing an increase of approximately 8.0%[93]. - The largest shareholder, Yuntianhua Group Co., Ltd., holds 617,022,121 shares, accounting for 43.22% of total shares[97]. - The total number of shareholders at the end of the reporting period was 45,421, with no applicable changes in voting rights for preferred shareholders[97]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the principle of going concern, ensuring that the company can continue its operations for at least 12 months[130]. - The company has made accounting policy changes in accordance with new financial instrument standards effective from January 1, 2019, which will not materially affect financial results[91]. - The company recognizes government grants related to assets as deferred income, which is amortized over the useful life of the related assets[175].

Financial Performance - The company's operating revenue for 2018 was CNY 52.98 billion, a decrease of 5.35% compared to CNY 55.97 billion in 2017[19]. - The net profit attributable to shareholders of the listed company was CNY 122.77 million, down 39.18% from CNY 201.86 million in 2017[19]. - The net profit after deducting non-recurring gains and losses was CNY -150.48 million, compared to CNY -904.08 million in 2017[19]. - Basic earnings per share decreased by 39.20% to CNY 0.0929 in 2018 compared to CNY 0.1528 in 2017[21]. - The company's net profit attributable to shareholders, excluding non-recurring gains and losses, showed a significant reduction in losses, improving from CNY -68.42 million in 2017 to CNY -11.39 million in 2018[21]. - The weighted average return on equity decreased by 1.78 percentage points to 3.17% in 2018 from 4.95% in 2017[21]. - The total profit reached CNY 515 million, an increase of CNY 93 million compared to the previous year[62]. - The company achieved operating revenue of CNY 52.98 billion, a year-on-year decrease of 5.35%[62]. - The company reported a total of -3,359,492,389.33 RMB in net profit for 2016, with no dividends distributed in the following years[186]. Cash Flow and Assets - Cash flow from operating activities increased by 16.57% to CNY 3.19 billion from CNY 2.74 billion in 2017[19]. - The total assets at the end of 2018 were CNY 67.82 billion, an increase of 6.71% from CNY 63.56 billion at the end of 2017[19]. - The net assets attributable to shareholders of the listed company increased by 20.22% to CNY 4.38 billion from CNY 3.64 billion at the end of 2017[19]. - The company's cash and cash equivalents at year-end increased by 3,567,659,453.16 CNY, a growth of 39.34% compared to the beginning of the year[86]. - The net cash flow from operating activities increased by 454 million CNY, primarily due to increased sales revenue from self-produced products[83]. Production and Sales - Sales volume of phosphate fertilizer increased by 1% and compound fertilizer sales volume increased by 7% in 2018, with phosphate fertilizer prices rising by 14%-19% and urea prices increasing by 24%[22]. - The total operating revenue for Q4 2018 reached CNY 16.26 billion, marking a significant increase compared to previous quarters[24]. - The net profit attributable to shareholders in Q4 2018 was CNY 39.83 million, a notable recovery from previous quarters[24]. - The actual production of compound fertilizer in 2018 was about 57.20 million tons, a decrease of 8.1% compared to 62.27 million tons in 2017[105]. - The production volume of monoammonium phosphate increased by 32.09% to 1.39 million tons, while the sales volume rose by 22.80% to 1.29 million tons[70]. - The company aims to produce 3.23 million tons of diammonium phosphate and sell the same amount in 2019[174]. - The production target for monoammonium phosphate is set at 1.517 million tons, with sales also expected to match this figure[174]. - The company aims to produce 1.58 million tons of compound fertilizer, with sales projected at 1.73 million tons[174]. - The production goal for urea is 1.45 million tons, with sales expected to reach the same amount[174]. Market and Industry Trends - The fertilizer industry has seen improved overall efficiency, with major fertilizer product prices rebounding due to supply-side structural reforms[40]. - The company is actively expanding its international market presence in the phosphate mining sector to enhance resource acquisition capabilities[39]. - The company is focusing on the development of slow-release and water-soluble fertilizers, aligning with the trend towards eco-friendly and efficient agricultural practices[169]. - The compound fertilizer industry is undergoing a phase of consolidation, with many small producers exiting the market due to rising costs and stricter environmental standards[105]. - The company is positioned to benefit from the ongoing supply-side reforms in the fertilizer industry, which aim to eliminate outdated production capacity and improve industry concentration[106]. Research and Development - The company’s R&D expenses increased by 54.56% to CNY 52.59 million, reflecting a strong commitment to innovation[63]. - The company has applied for 16 national invention patents, with 3 newly authorized patents during the reporting period[118]. - The company has made significant progress in technology development, including the establishment of a 900,000-ton/year arsenic removal facility[60]. - New product development led to a 115.25% increase in the production of new fertilizers, including high-nitrogen and high-potassium water-soluble fertilizers[60]. Environmental and Safety Management - The company emphasizes safety and environmental management, aiming to enhance its competitive advantage in these areas[36]. - The company maintained a zero record for major safety and environmental accidents during the reporting period, achieving "zero deaths" and "zero pollution" goals[58]. - The company’s green product initiatives resulted in 11 compound fertilizer products receiving the first batch of "green design product" titles from the Ministry of Industry and Information Technology[58]. - The company achieved a vegetation restoration rate of 95.77% for the Phosphate Group and 90% for Tianning Mining, promoting green mining practices[154]. Strategic Investments and Acquisitions - The company converted a RMB 500 million loan to equity investment in the joint venture Haikou Phosphate, increasing its registered capital from RMB 1.3 billion to 2.3 billion, maintaining a 50% ownership[43]. - The company plans to acquire a 40% stake in Inner Mongolia Dadi Yuntianhua for RMB 176.825 million, expecting continuous profitability from the project[48]. - The company transferred 60% of its stake in Shandong Yuntianhua for RMB 30.3725 million, resulting in no remaining ownership in the subsidiary[44]. - The company established a new subsidiary, Tangyuan Yuntianhua, with a registered capital of RMB 50 million, where it holds 55% of the shares[46]. Financial Management and Risks - The company faces significant risks including safety and environmental risks, as well as market risks[8]. - The company is focusing on cash flow management to mitigate financial risks, with high gross margins on main products ensuring stable operating cash flow[181]. - The company is implementing measures to stabilize raw material costs through strategic partnerships and market analysis[179]. - The company faces risks from rising raw material prices, particularly for coal, natural gas, and sulfur, which may impact production costs[178]. Legal and Compliance Issues - The company is involved in a significant lawsuit regarding the import of biofuel oil, with a total claim amount of RMB 306,808,642.10 from the counterclaim[198]. - The first-instance judgment ordered the opposing party to pay a total of RMB 222,262,695.30, along with interest calculated at the People's Bank of China loan rate[198]. - The company has a pending lawsuit against Changzhou Shuangzhi regarding approximately 2.2 million tons of biofuel oil, with a claim amount of RMB 186,947,894.55[199].

Financial Performance - The company reported a negative retained earnings balance for the year, resulting in no profit distribution or capital reserve increase for 2018[2]. - The company's operating revenue for 2018 was approximately ¥52.98 billion, a decrease of 5.35% compared to ¥55.97 billion in 2017[12]. - Net profit attributable to shareholders was approximately ¥122.77 million, down 39.18% from ¥201.86 million in 2017[12]. - The net profit after deducting non-recurring gains and losses was approximately -¥150.48 million, compared to -¥904.08 million in 2017, indicating a significant reduction in losses[12]. - The net cash flow from operating activities increased by 16.57% to approximately ¥3.19 billion from ¥2.74 billion in 2017[12]. - The company's total assets at the end of 2018 were approximately ¥67.82 billion, an increase of 6.71% from ¥63.56 billion at the end of 2017[12]. - The basic earnings per share for 2018 was ¥0.0929, a decrease of 39.20% from ¥0.1528 in 2017[13]. - The weighted average return on equity decreased to 3.17%, down 1.78 percentage points from 4.95% in 2017[13]. Risk Management - The company faced significant risks including safety and environmental risks, as well as market risks[3]. - The company has a comprehensive risk management strategy to address potential operational and market challenges[3]. - The company emphasizes safety and environmental management, striving to enhance its competitive advantage in these areas[21]. - The company is exploring new sales models, including direct sales and smart fertilization, to adapt to the changing fertilizer market[21]. - The company faces challenges from rising prices of raw materials like coal and sulfur, which may limit its profitability despite improving sales prices of its main fertilizer products[28]. Corporate Governance - The audit report issued by Zhongshen Zhonghuan CPA was a standard unqualified opinion, ensuring the accuracy of the financial statements[2]. - The company did not have any non-operating fund occupation by controlling shareholders or related parties[2]. - The company's financial report was confirmed to be true, accurate, and complete by the responsible persons including the chairman and accounting supervisor[2]. - The company’s board of directors approved the profit distribution plan on March 20, 2019, which is subject to shareholder approval[2]. - The company has maintained its independence in business, assets, finance, personnel, and institutions following the completion of major asset restructuring[110]. Market and Product Development - The company operates in various sectors including agriculture and chemical production, with multiple subsidiaries across different regions[5]. - The company focuses on fertilizer research, manufacturing, and sales, with advanced production facilities for monoammonium phosphate, diammonium phosphate, urea, and compound fertilizers[20]. - The company aims to transition from a manufacturing model to a service-oriented model, providing customized solutions and enhancing agricultural service capabilities[21]. - The company has developed a multi-layered fertilizer product structure, focusing on upgrading basic fertilizers and enhancing new product development[21]. - The company is actively expanding its international market presence in phosphate mining, improving its resource acquisition capabilities[22]. Environmental and Social Responsibility - The company has implemented a 100% operation rate for pollution prevention facilities and industrial wastewater treatment[153]. - The company’s key pollutant discharge units achieved a 100% compliance rate for online monitoring of pollutant emissions[155]. - The company faced three environmental penalties totaling 290,000 yuan during the reporting period, all of which were rectified without significant impact on operations[157]. - The company has successfully helped 166 registered poor households to escape poverty through various initiatives, with a total investment of 3.8 million RMB in poverty alleviation projects[147]. - The company has established a three-year plan for educational support, aiming to enhance educational resources in impoverished regions[145]. Legal and Compliance Issues - The company is involved in multiple lawsuits, with a notable case against Qujing Lehua Trading Co., Ltd. for an unpaid coal sale amounting to RMB 35,227,626.79, which is currently in the execution phase after winning the case[120]. - The company has a pending lawsuit against Jilin Dida Starch Biochemical Co., Ltd. for an outstanding payment of RMB 14,250,218.75, with a 100% bad debt loss provision already accounted for[120]. - The total amount involved in the lawsuits indicates significant financial implications, with claims totaling over RMB 222 million in various cases[119][120]. - The company has taken measures to secure its receivables through land pledges, reflecting a cautious approach to credit risk management[120]. - The company is committed to enforcing its legal rights to ensure the collection of outstanding debts, which is crucial for its operational liquidity[120]. Shareholder Information - The company’s stock is listed on the Shanghai Stock Exchange under the ticker 600096[10]. - The total number of ordinary shares increased from 1,321,379,138 to 1,427,674,938 shares due to the granting of restricted stocks[159]. - The largest shareholder, Yuntianhua Group Co., Ltd., holds 617,022,121 shares, representing 46.70% of the total shares[163]. - The company has no controlling shareholder or actual controller changes during the reporting period[168][170]. - The company has not proposed any cash profit distribution plans despite having positive distributable profits, indicating a strategy focused on growth and reinvestment[107]. Employee and Management Structure - The total number of employees in the parent company is 2,240, while the total number of employees in major subsidiaries is 10,096, resulting in a combined total of 12,336 employees[191]. - The total remuneration for all directors, supervisors, and senior management personnel in 2018 amounted to 7.4385 million yuan[187]. - The company has a total of 8,157 production and sales personnel, 1,131 technical personnel, 266 financial personnel, and 1,885 administrative personnel[191]. - The company has undergone changes in management, including the election of a new vice chairman and the appointment of a new general manager[189]. - The company continues to focus on performance-based remuneration for its senior management, with basic and performance-based salaries[187].

2018 年第三季度报告 公司代码：600096 公司简称：云天化 云南云天化股份有限公司 2018 年第三季度报告 1 / 22 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2018 年第三季度报告 一、重要提示 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。 1.3 公司负责人张文学、主管会计工作负责人钟德红及会计机构负责 人（会计主管人员）莫秋实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 | | 本报告期末 | 上年度末 | 本报告期末比上 年度末增减(%) | | | | --- | --- | --- | --- | --- | --- | | 总资产 | 66,104,964,468.48 | 63,5 ...

2018 年半年度报告 公司代码：600096 公司简称：云天化 云南云天化股份有限公司 2018 年半年度报告 1 / 137 2018 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人张文学、主管会计工作负责人钟德红 及会计机构负责人（会计主管人员）莫秋 实声明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告涉及的未来计划、发展规划等前瞻性陈述，不构成公司对投资者的实质承诺，请投资者注 意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司面临的重大风险主要包括政策风险、市场风险等。请查阅本报报告第四节第二部分。 十、 其他 □适用 √不适用 2 / 137 | 第一节 | 释义 ...