江苏弘业股份有限公司 2020 年第三季度报告 公司代码：600128 公司简称：弘业股份 二、 公司基本情况 江苏弘业股份有限公司 2020 年第三季度报告 1 / 30 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 4 | | 三、 | 重要事项 | 8 | | 四、 | 附录 | 10 | 江苏弘业股份有限公司 2020 年第三季度报告 一、 重要提示 3 / 30 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 公司负责人马宏伟、主管会计工作负责人叶子驭及会计机构负责人（会计主管人员）沈旭保 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。 江苏弘业股份有限公司 2020 年第三季度报告 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | | 年初至报告期末 | 说明 | | --- ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,524,264,939.01, a decrease of 4.94% compared to CNY 1,603,424,161.44 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 22,879,810.38, a significant recovery from a loss of CNY 9,519,457.04 in the previous year[21]. - The net cash flow from operating activities was negative at CNY -50,868,421.32, an improvement from CNY -63,553,467.65 in the same period last year[21]. - The total profit amounted to 28.77 million yuan, with a net profit attributable to the parent company of 22.8798 million yuan, marking a turnaround from loss to profit compared to the same period last year[43]. - The company reported a net profit for the first half of 2020 of RMB 23,974,741.06, a significant recovery from a net loss of RMB 15,001,201.45 in the same period last year[117]. - The company achieved a total comprehensive income of RMB 23,910,526.76, compared to a loss of RMB 12,519,110.06 in the first half of 2019[117]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,784,197,407.39, down 2.03% from CNY 3,862,597,019.07 at the end of the previous year[21]. - The total liabilities and owners' equity at the end of the first half of 2020 amounted to CNY 1,858,036,080.30, consistent with the previous reporting period[132]. - The asset-liability ratio decreased from 46.54% at the end of 2019 to 45.04%, enhancing risk prevention and asset quality[44]. - Current liabilities totaled CNY 1,472,793,183.26, slightly down from CNY 1,505,471,327.99 in the previous period[109]. - Non-current liabilities decreased to CNY 231,553,475.29 from CNY 292,047,094.00, indicating a reduction in long-term financial obligations[109]. Cash Flow - The cash inflow from operating activities for the first half of 2020 was CNY 1,892,903,907.49, an increase of 2.9% compared to CNY 1,838,255,368.73 in the first half of 2019[123]. - The cash inflow from investment activities significantly increased to CNY 1,525,706,756.01, compared to CNY 72,911,058.49 in the previous year[124]. - The cash inflow from financing activities totaled CNY 297,468,589.77, up from CNY 117,914,112.09 in the same period last year[124]. - The total cash and cash equivalents at the end of the period were CNY 432,294,313.88, compared to CNY 304,620,678.85 at the end of the first half of 2019[124]. Government Support and Subsidies - The company received government subsidies amounting to CNY 4,952,004.52, primarily for exhibition support and employment stabilization[23]. - The company received government compensation of CNY 23,676,200 for land storage, which was included in the current period's profit[57]. Market and Trade - The company's export trade primarily includes categories such as clothing, toys, and fishing gear, while imports focus on medical devices and chemicals[28]. - The overall import and export trade value in China for the first half of 2020 was 14.24 trillion RMB, showing a year-on-year decline of 3.2%[32]. - The company is actively expanding its cross-border e-commerce business to leverage the growth of the global internet economy[38]. - The company continues to face uncertainties in foreign trade due to global economic downturns and trade tensions, with predictions of a 4.9% decline in the world economy[32]. Risks and Challenges - The company has outlined potential risks in its operations, which are detailed in the report[8]. - The company is facing significant challenges with order cancellations and delays due to the pandemic, impacting its international market demand[72]. - The company has reported major litigation and arbitration matters during the reporting period[81]. Shareholder and Equity Information - The total owner's equity at the end of the current period is CNY 1,488,620,039.53, which shows a decrease of CNY 11,951,106.87 from the previous period[137]. - The company did not report any significant changes in share capital or shareholder structure during the reporting period[99]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[75]. Investment and Subsidiaries - Jiangsu Hongye Co., Ltd. invested 8 million yuan in Jiangsu Aitao Public Art Development Co., Ltd., holding a 40% stake, with an initial investment of 4 million yuan completed during the reporting period[62]. - Jiangsu Hongye's investment in Hongye Futures Co., Ltd. generated a net profit of 39,246,956.55 yuan, contributing 29.55% to the company's net profit[69]. - The company completed the merger of its wholly-owned subsidiary Jiangsu Hongye Ship Trading Co., Ltd. into Jiangsu Hongye Crafts Co., Ltd., increasing the registered capital from 15.5 million yuan to 25.5 million yuan[68]. Accounting Policies and Practices - The financial statements are prepared based on the going concern principle, indicating management's belief in the company's ability to continue operations for at least 12 months from the approval date of the financial statements[145]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results[147]. - The company recognizes impairment losses for non-current assets held for sale when their carrying amount exceeds the fair value less costs to sell[177]. Legal Matters - The company reported a civil lawsuit involving a claim of 1,108,000 RMB, with a provision for bad debt of 1,642,974.31 RMB[82]. - A civil lawsuit against the company resulted in a judgment for the return of 45.34 kg of gold, with a provision for bad debt of 9,592,635.22 RMB[82]. - The company has recognized a provision for expected liabilities amounting to 7,963,985.85 RMB related to ongoing lawsuits[82].

Financial Performance - The company's operating revenue for 2019 was CNY 4,297,028,434.35, a decrease of 4.66% compared to CNY 4,506,991,026.46 in 2018[21] - The net profit attributable to shareholders for 2019 was CNY 35,365,490.81, a significant recovery from a loss of CNY 70,173,837.75 in 2018[21] - The net cash flow from operating activities increased by 381.60% to CNY 417,024,861.78 from CNY 86,590,920.27 in the previous year[21] - The total assets of the company at the end of 2019 were CNY 3,862,597,019.07, reflecting a 27.98% increase from CNY 3,018,221,278.29 in 2018[21] - The net assets attributable to shareholders increased by 30.95% to CNY 1,693,045,335.11 from CNY 1,292,877,624.83 in 2018[21] - The basic earnings per share for 2019 was CNY 0.1433, recovering from a loss of CNY 0.2844 in 2018[22] - The weighted average return on equity improved to 2.1850% in 2019, an increase of 7.43 percentage points from -5.2458% in 2018[22] Revenue and Profitability - In 2019, the total operating revenue for Jiangsu Hongye Co., Ltd. was approximately CNY 4.3 billion, with quarterly revenues of CNY 796.86 million, CNY 806.56 million, CNY 1.15 billion, and CNY 1.54 billion respectively[23] - The net profit attributable to shareholders for the year was CNY 44.02 million, with a significant quarterly recovery from a loss of CNY 4.83 million in Q1 to a profit in Q4[23] - The company reported a non-recurring gain of CNY 122.15 million in 2019, primarily from the disposal of non-current assets, which included CNY 139.99 million from land disposal[25][27] - The company reported a significant reduction in non-recurring losses, with a total of CNY 40.56 million in tax impacts from non-recurring items[27] - The company achieved operating revenue of 4.297 billion RMB, a year-on-year decrease of 4.66%[43] - The net profit attributable to the parent company was 35.37 million RMB, marking a turnaround from loss to profit[43] Cash Flow and Assets - The net cash flow from operating activities showed a substantial improvement, ending the year with CNY 584.52 million after a negative cash flow in the first three quarters[23] - The total assets of the company increased from CNY 786.40 million at the beginning of the year to CNY 1.21 billion by year-end, indicating strong growth in financial health[28] - The company's financial expenses decreased by 40.41% to 12,610,889.45 CNY, due to lower financing costs compared to the previous year[67] - The total current assets reached RMB 2,075,272,373.32, up from RMB 1,798,422,684.97 in the previous year, indicating an increase of about 15.4%[193] - The company's cash and cash equivalents decreased to RMB 607,947,728.05 from RMB 638,657,142.83, representing a decline of approximately 4.0%[193] Market and Export Performance - The company exported approximately 48 million USD in toys, showing significant growth compared to the previous year[44] - Exports of rush grass products reached over 13 million USD, an increase of about 14% from 2018, maintaining industry leadership[44] - The company’s cross-border e-commerce platform sales reached 23 million USD, a growth of 108% compared to 2018[46] - The company successfully imported approximately 17.8 million USD worth of chemical materials, demonstrating robust growth despite industry challenges[45] - The company has established trade relationships in over 100 countries and regions, enhancing its competitive edge in the market[37] Strategic Initiatives - The company aims to enhance its competitive edge by expanding into high-value segments of the supply chain, focusing on cultural and investment businesses as complementary to its trade operations[30] - The company plans to leverage its cultural business to support its main trade operations, with a focus on art projects and cultural trade[30] - The company is actively pursuing reforms to improve governance structures and decision-making efficiency[50] - The company is focusing on transforming its business model by extending into upstream and downstream of the supply chain to enhance profitability[89] - The company is exploring potential mergers and acquisitions to enhance its competitive edge, with a focus on acquiring smaller firms in the industry[160] Risk Management - The report includes a risk statement indicating potential risks related to future plans and strategies, advising investors to be cautious[6] - The company has committed to enhancing risk management practices, including improving risk control mechanisms and increasing proactive risk warning management[101] - The company is facing macroeconomic risks due to the global impact of the COVID-19 pandemic, which has led to lowered growth expectations from major financial institutions[99] - The company is implementing strategies to manage currency exchange risks and optimize its import-export business structure[100] - The company is addressing potential order declines and fulfillment risks exacerbated by the COVID-19 pandemic[100] Governance and Compliance - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations, ensuring the protection of shareholders' rights and promoting sustainable development[171] - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2019, and its operating results for the year[181] - The company has not reported any major deficiencies in internal control during the reporting period[178] - The company has maintained strict control over insider information during the reporting period, ensuring compliance with disclosure requirements[171] - The company has not encountered any non-standard audit opinions during the reporting period, indicating a clean audit status[111] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 31,581, an increase from 28,777 at the end of the previous month[145] - Jiangsu Suhao Holding Group Co., Ltd. is the largest shareholder, holding 53,820,061 shares with no changes during the reporting period[147] - The company has no significant changes in the controlling shareholder or actual controller during the reporting period[149] - The total pre-tax compensation for the chairman, Wu Tingchang, was 336,600 RMB, while for director Jiang Lin it was 331,700 RMB[156] - The report highlights the importance of performance-based compensation in aligning executive interests with company performance[157] Employee and Management - The total number of employees in the parent company is 204, while the total number of employees in major subsidiaries is 2,360, resulting in a combined total of 2,564 employees[166] - The company has established a competitive remuneration system to attract and retain talent, with a focus on aligning compensation with company development goals[167] - The company has implemented a training system that combines internal and external training to enhance employee skills and support personal and corporate growth[168] - The company has appointed new personnel in key positions, including a new financial officer and board secretary, to strengthen management[164] - The management team emphasized the importance of strategic partnerships to drive growth, aiming to establish at least five new collaborations in 2020[160]

江苏弘业股份有限公司 2020 年第一季度报告 公司代码：600128 公司简称：弘业股份 江苏弘业股份有限公司 2020 年第一季度报告 1 / 31 | 一、重要提示 | | 3 | | --- | --- | --- | | 二、公司基本情况 | | 4 | | 三、重要事项 | | 8 | | 四、附录 | | 11 | 江苏弘业股份有限公司 2020 年第一季度报告 一、 重要提示 3 / 31 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 公司负责人吴廷昌、主管会计工作负责人叶子驭及会计机构负责人（会计主管人员）沈旭保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 江苏弘业股份有限公司 2020 年第一季度报告 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 | | | --- | --- | --- | --- | - ...

江苏弘业股份有限公司 2019 年第三季度报告 公司代码：600128 公司简称：弘业股份 江苏弘业股份有限公司 2019 年第三季度报告 1 / 32 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 4 | | 三、 | 重要事项 | 9 | | 四、 | 附录 | 12 | 江苏弘业股份有限公司 2019 年第三季度报告 一、 重要提示 3 / 32 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 公司负责人吴廷昌、主管会计工作负责人叶子驭及会计机构负责人（会计主管人员）沈旭保 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。 江苏弘业股份有限公司 2019 年第三季度报告 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 √适用 □不适用 单位：元 币种：人民币 | | 本期金额 | | 年初至报告期末 | 说明 | | --- | - ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,603,424,161.44, a decrease of 30.16% compared to CNY 2,295,945,645.03 in the same period last year[19] - The net profit attributable to shareholders of the listed company was a loss of CNY 9,519,457.04, an improvement from a loss of CNY 36,691,009.44 in the previous year[19] - The net cash flow from operating activities was a negative CNY 63,553,467.65, which is an improvement compared to a negative CNY 99,191,854.92 in the same period last year[19] - The basic earnings per share for the first half of 2019 was -0.0386 CNY, an improvement from -0.1487 CNY in the same period last year[20] - The weighted average return on net assets increased by 2.10 percentage points to -0.6184% from -2.7173% in the previous year[20] - The net profit for the first half of 2019 was a loss of CNY 15,001,201.45, compared to a loss of CNY 37,145,914.65 in the same period of 2018, indicating an improvement[115] - The total comprehensive income attributable to the parent company for the first half of 2019 was CNY -7,264,954.58, compared to CNY -39,993,275.45 in the same period of 2018[116] - The company's total comprehensive income for the first half of 2019 was CNY 17,273,362.42, compared to CNY -9,886,428.00 in the first half of 2018, reflecting a positive turnaround[119] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,289,058,654.99, an increase of 8.97% from CNY 3,018,221,278.29 at the end of the previous year[19] - The net assets attributable to shareholders of the listed company increased by 18.80% to CNY 1,535,908,011.85 from CNY 1,292,877,624.83 at the end of the previous year[19] - The company's overseas assets amounted to 193,662,354.48 RMB, representing 5.89% of total assets[32] - Total current assets as of June 30, 2019, amounted to approximately CNY 1.67 billion, a decrease of 7.06% from CNY 1.80 billion at the end of 2018[107] - Total current liabilities decreased to approximately CNY 1.21 billion, down 13.63% from CNY 1.40 billion[109] - Total liabilities amounted to CNY 1.43 billion, a decrease of 7.85% from CNY 1.56 billion[109] - The total owner's equity at the end of the period is 1,485,034,634.91 CNY, showing stability in equity position[131] Revenue Streams - The company's main business, trade, accounts for over 90% of total revenue, focusing on export and import activities, including clothing and medical devices[28] - The export business focused on competitive products, with plush toy orders exceeding USD 25 million[41] - The import business saw a 60% year-on-year increase in new developed business imports, totaling USD 7.28 million[42] - The cross-border e-commerce platform achieved sales of over USD 8 million, doubling year-on-year[44] - Revenue from the import and export business was ¥868,657,313.81, a decrease of 29.74% year-on-year, while domestic sales revenue was ¥622,945,620.70, down 33.89%[53] Investment and Financing - The company actively pursued a non-public stock issuance to fund the transformation projects of the cross-border e-commerce platform and the Myanmar production base[45] - The company reported an investment income of CNY 18,120,210.50 for the first half of 2019, significantly up from CNY 7,582,111.69 in the same period of 2018[115] - The company reported a total investment in trading financial assets of approximately ¥93 million, with a fair value change of ¥1 million during the reporting period[59] - The company has ongoing investments in construction projects, with capitalized costs rising to CNY 210.53 million from CNY 171.84 million, an increase of 22.49%[108] Risk Management - The company has outlined potential risks in its future development strategy, which investors should be aware of[5] - The company faces macroeconomic risks, with the IMF lowering global growth forecasts from 3.7% to 3.2% for 2019, indicating a decline in trade growth prospects[65] - The company faces a complex external environment with increased instability and uncertainty, impacting global economic growth prospects[66] - Risk management remains a top priority, with efforts to improve risk management systems and enhance proactive risk warning management[67] Legal Matters - The company has no major litigation or arbitration matters reported during the period[75] - The company reported a civil lawsuit against Shandong Shengkong Hongquan with a judgment amount of RMB 3.8263 million and overdue penalty interest, with the court ruling that Shengkong must pay the company[76] - The company has recognized a special bad debt provision of RMB 1.108 million related to a civil lawsuit against Nanjing Bode Garment Co., Ltd., which is still pending judgment[76] - A civil lawsuit against Jiangsu Huatai Shipbuilding Co., Ltd. resulted in a special bad debt provision of RMB 1.3 million, with a mediation agreement reached[77] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,241[99] - The largest shareholder, Jiangsu Suhao Holding Group Co., Ltd., held 53,820,061 shares, representing 21.81% of the total shares[99] - The second-largest shareholder, Aitao Cultural Group Co., Ltd., held 9,928,410 shares, accounting for 4.02%[99] - The company reported no changes in total shares and capital structure during the reporting period[97] Accounting Policies - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting the financial position, operating results, changes in equity, and cash flows accurately[144] - The company applies specific accounting policies for bad debt provisions, depreciation of fixed assets, amortization of intangible assets, and revenue recognition based on its operational characteristics[143] - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[149] - The company assesses expected credit losses based on all reasonable and supportable information, including forward-looking information[166] Operational Developments - The company has established a strong customer base, successfully integrating into the supply chains of major retailers like Walmart and Costco, maintaining a competitive edge in the foreign trade market[34] - The company has set up a garment production base in Myanmar to enhance its supply chain capabilities and address industry shortcomings[35] - The company is actively expanding its cross-border e-commerce business to capture opportunities in the U.S. internet retail market[35] - The company continues to optimize its import and export structure while focusing on its core business[27]

| 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 4 | | 三、 | 重要事项 | 8 | | 四、 | 附录 | 11 | 江苏弘业股份有限公司 2019 年第一季度报告 江苏弘业股份有限公司 2019 年第一季度报告 公司代码：600128 公司简称：弘业股份 江苏弘业股份有限公司 2019 年第一季度报告 1 / 31 一、 重要提示 1.4 本公司第一季度报告未经审计。 3 / 31 江苏弘业股份有限公司 2019 年第一季度报告 二、 公司基本情况 2.1 主要财务数据 经公司第九届董事会第八次会议审议，公司于 2019 年 1 月 1 日起执行新金融工具准则。按照 新金融工具准则列示报表调整事项如下：1）公司及合并报表范围内子公司持有的"以公允价值计 量且其变动计入当期损益的金融资产"转入"交易性金融资产"；2）持有的"可供出售金融资产" 分别转入"交易性金融资产"及"其他权益工具投资"；公允价值较原账面价值的差额，计入 2019 年年初的未分配利润或其他综合收益，相应调整递延所得税负债。具体调整的金额参见"4.2 首次执行新金融工具准则 ...

Financial Performance - Jiangsu Hongye Co., Ltd. reported a net profit attributable to shareholders of -70,173,837.75 yuan for 2018, a decrease of 672.19% compared to the previous year's profit of 12,264,019.48 yuan [5]. - The company's operating revenue for 2018 was 4,506,991,026.46 yuan, representing a year-on-year increase of 9.90% from 4,101,082,096.98 yuan in 2017 [21]. - Basic earnings per share for 2018 were -0.2844 yuan, a decline of 672.23% compared to 0.0497 yuan in 2017 [22]. - The company's net profit attributable to shareholders was a loss of CNY 70.17 million [53]. - The company reported a net profit attributable to shareholders of the listed company of RMB -29.738 million in Q4 2018, with a total annual revenue of RMB 4.606 billion [26]. - Non-recurring gains and losses for 2018 totaled RMB -10.8795 million, compared to RMB 72.2958 million in 2017 [29]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-on-year growth of 15% [163]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency and cost management strategies [161]. Assets and Liabilities - The total assets of the company decreased by 4.97% to 3,018,221,278.29 yuan at the end of 2018, down from 3,175,954,888.99 yuan at the end of 2017 [21]. - The company's net assets attributable to shareholders decreased by 6.08% to 1,292,877,624.83 yuan at the end of 2018, compared to 1,376,515,348.41 yuan at the end of 2017 [21]. - Total assets decreased from CNY 3,175,954,888.99 at the beginning of the year to CNY 3,018,221,278.29 by year-end, reflecting a decline of approximately 4.94% [198]. - Total liabilities decreased from CNY 1,636,652,865.39 to CNY 1,556,259,412.76, representing a decline of approximately 4.91% [198]. - The company's retained earnings decreased from CNY 466,648,781.16 to CNY 384,136,568.41, a decline of approximately 17.66% [199]. Cash Flow - The cash flow from operating activities for 2018 was 86,590,920.27 yuan, a significant improvement from -113,426,949.64 yuan in 2017 [21]. - The net cash flow from operating activities for Q4 2018 was RMB 268.1529 million, showing a significant recovery compared to previous quarters [26]. - The company's cash flow from operating activities turned positive at CNY 86.59 million, compared to a negative cash flow of CNY 113.43 million in the previous year [55]. Business Strategy and Development - The company adjusted its business focus to "trade as the main business + cultural and investment as two characteristic businesses" to enhance competitiveness [34]. - The company aims to expand into high value-added segments of the industrial chain to improve overall competitiveness [34]. - The company is exploring potential partnerships with international firms to enhance its global footprint and diversify its product offerings [162]. - The company plans to optimize its foreign trade business structure and reduce uncertainties by diversifying export markets, particularly in regions like Europe, Japan, and ASEAN [96]. - The company is committed to enhancing its cultural and investment sectors by concentrating resources on specialized business areas [100]. Market Performance - In 2018, the company's clothing exports reached $79.83 million, a year-on-year increase of 60.5%, accounting for 4.7% more of the total export value [47]. - The toy and pet business achieved exports of $53.54 million, growing by 34.2%, and its share of total exports increased by 3.7% [47]. - The glove business saw exports of $26.43 million, with a growth rate of 61.1% [47]. - The company’s revenue from the medical professional market increased significantly, with annual revenue reaching over 35 million yuan, a threefold increase [48]. Risk Management - The company has acknowledged potential risks in its future development and has provided detailed descriptions of these risks in the report [7]. - The company has committed to improving risk management systems and enhancing compliance management to mitigate performance risks due to macroeconomic fluctuations and customer credit status [105]. - The company has acknowledged the increasing market risks due to global economic downturns and trade protectionism, while also recognizing opportunities for growth through international cooperation [104]. Corporate Governance - The company has a governance structure that complies with relevant laws and regulations, ensuring clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management [173]. - The company has implemented strict insider information management practices during the disclosure periods of regular and temporary reports [174]. - The board of directors held a total of 9 meetings during the year, with 1 in-person meeting and 5 conducted via communication methods [178]. Executive Compensation - The total compensation for key executives during the reporting period amounted to 4.53 million RMB [156]. - The chairman, Wu Tingchang, received a total pre-tax compensation of 573,100 RMB [155]. - The general manager, Zhang Ke, received a total pre-tax compensation of 573,300 RMB [155]. Legal Matters - The company is involved in several ongoing lawsuits, with some already adjudicated and in the execution phase [120]. - The company has recognized a contingent liability of CNY 1,238,975.04 due to a court ruling requiring repayment to a plaintiff [123]. - The company has a provision for expected liabilities related to ongoing lawsuits totaling CNY 1,238,975.04 [123].

江苏弘业股份有限公司 2018 年第三季度报告 公司代码：600128 公司简称：弘业股份 江苏弘业股份有限公司 2018 年第三季度报告 1 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 4 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 12 | 江苏弘业股份有限公司 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 公司负责人吴廷昌、主管会计工作负责人连丹及会计机构负责人（会计主管人员）沈旭保 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。 3 江苏弘业股份有限公司 2018 年第三季度报告 二、 公司基本情况 2.1 主要财务数据 4 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 2,951,086,657.04 3,175,954,888.99 - ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥2,295,945,645.03, representing a 40.47% increase compared to ¥1,634,517,406.76 in the same period last year[19] - The net profit attributable to shareholders of the listed company was -¥36,691,009.44, a significant decrease of 3,193.85% from ¥1,185,934.02 in the previous year[19] - The net cash flow from operating activities was -¥99,191,854.92, showing an improvement from -¥142,462,552.90 in the same period last year[19] - The total assets decreased by 8.26% to ¥2,913,750,271.96 from ¥3,175,954,888.99 at the end of the previous year[19] - The net assets attributable to shareholders decreased by 3.81% to ¥1,324,106,268.13 from ¥1,376,515,348.41 at the end of the previous year[19] - Basic earnings per share for the first half of 2018 were -¥0.1487, a decrease of 3,197.92% compared to ¥0.0048 in the same period last year[20] - The weighted average return on net assets was -2.7173%, down by 2.80 percentage points from 0.0855% in the previous year[20] - The company reported a significant decrease in investment income, down 75.33% to ¥7,582,111.69 from ¥30,736,357.04 year-on-year[45] - The company reported a net profit attributable to shareholders of -36.691 million RMB due to investment income decline and asset impairment provisions[40] - The company reported a net profit loss of RMB 4.33 million for Jiangsu Hongye Yongheng Import and Export Co., Ltd., with total assets of approximately RMB 1.02 billion.[63] Revenue and Sales - The company achieved a revenue of 2.296 billion RMB in the first half of 2018, representing a year-on-year growth of 40.47%[40] - Export business reached 16.968 million USD, an increase of 43.26% compared to the previous year, with significant growth in traditional product categories[40] - The cultural segment generated a revenue of 431 million RMB, an increase of 169 million RMB year-on-year, with the art engineering business contributing over 83 million RMB[42] - The import business recorded 6.495 million USD, showing a slight decline, while the domestic trade business saw revenue growth of 7.39% and 15.17% for liquid ammonia and coal respectively[41] - The revenue from domestic sales increased by 35.38% to ¥942,303,972.37, with a slight increase in gross margin by 0.90 percentage points to 6.67%[50] Costs and Expenses - Operating costs increased by 43.64% to ¥2,156,853,884.29 from ¥1,501,537,835.29 year-on-year, reflecting an expansion in business scale[45] - The company experienced a 579.71% increase in operating expenses, totaling ¥2,614,894.70 compared to ¥384,705.92 in the previous year[46] - The tax and additional charges increased by 133.43% to ¥9,495,294.51, primarily due to land value-added tax settlements[45] Investments and Assets - The company recognized a special bad debt provision of ¥10,041,800 related to operational debts in its subsidiary, Aitao Culture[20] - The company has invested ¥19,630,000 in the "Aitao Business Center" project, with a total investment of ¥360,000,000 planned over two years[60] - The company’s long-term equity investments totaled ¥78,919,148.34, with certain assets pledged as collateral for loans[57] - The company’s overseas assets amounted to 178.8 million RMB, accounting for 6.14% of total assets[36] Legal and Compliance - There are ongoing significant lawsuits, including cases against Wuxi Hengyousheng Metal Materials Co., Ltd. and Shandong Shengong Hongquan Mould Co., Ltd., which are currently in execution[76] - The company has submitted a bankruptcy liquidation application for a related party, with the court yet to make a decision on the matter[79] - The company is currently involved in multiple lawsuits, with the latest court session scheduled for August 21, 2018, regarding a civil case against a bank[79] - The company has recognized a special bad debt provision of CNY 38,329,200 as of the end of 2017, accounting for 30% of the expected losses[79] Related Party Transactions - The company has rental agreements with related parties, with rental income for the reporting period amounting to ¥315.97 million[90] - The company plans to engage in coal trading with a related party, with expected transaction amounts not exceeding ¥2,250 million over three years[89] - The company has reported a total of 7,200,000.00 RMB in transactions with related parties during the reporting period, with a closing balance of 118,979.00 RMB[93] - The company has provided guarantees totaling 20,006.35 million RMB, which accounts for 15.11% of the company's net assets[99] Shareholder and Equity Information - The company has a total of 24,966 common shareholders as of the end of the reporting period[104] - The top shareholder, Jiangsu Suhao Holding Group, holds 53,820,061 shares, representing 21.81% of the total shares[106] - The total equity attributable to the parent company at the end of the reporting period was CNY 1,610,562,292.76, with a decrease of CNY 9,043,449.89 during the period[144] Cash Flow and Liquidity - The company's cash and cash equivalents decreased to ¥410,540,490.50 from ¥558,870,814.82, a decline of approximately 26.5%[114] - The total cash and cash equivalents at the end of the period stood at ¥140,573,178.07, up from ¥111,041,951.57 at the end of the previous year[135] - The cash flow from financing activities resulted in a net outflow of -¥41,135,845.61, improving from a net outflow of -¥120,284,344.45 in the same period last year[134] Accounting Policies and Practices - The company’s accounting policies are in accordance with the relevant accounting standards and reflect its financial position accurately[157] - The company measures financial assets at fair value upon initial recognition, with subsequent measurement based on the classification of the financial asset[172] - The company recognizes impairment losses on financial assets separately, excluding them from the impairment testing of similar credit risk characteristics financial asset portfolios[174] Future Outlook and Strategy - The company is expanding its cross-border e-commerce operations, having opened new markets in Europe and developed new growth channels[43] - The company is actively exploring new product imports and expanding its environmental industry market share[41] - Jiangsu Hongye aims to diversify its export markets in response to the "Belt and Road" initiative, reducing reliance on the US market.[68]