Financial Performance - Net profit attributable to shareholders decreased by 19.50% to CNY 103,149,852.53 compared to the end of the previous year[6]. - Operating revenue decreased by 7.38% to CNY 63,167,084.02 compared to the same period last year[6]. - Basic earnings per share decreased by 66.67% to CNY -0.05 compared to CNY -0.03 in the previous year[6]. - Weighted average return on equity decreased to -21.60% from -18.50% in the previous year[6]. - The company reported a net loss of ¥758,580,566.42, worsening from a loss of ¥733,600,911.62 at the beginning of the year[25]. - Net loss for Q1 2015 was ¥25,511,928.31, compared to a net loss of ¥14,531,480.57 in Q1 2014, representing an increase in loss of 75.5%[32]. Cash Flow - Cash flow from operating activities improved by 76.31%, reaching CNY -26,007,195.59 compared to CNY -109,784,038.20 in the previous year[6]. - The net cash flow from operating activities improved by 76.31%, reaching CNY -26,007,195.59 compared to CNY -109,784,038.20 in the previous year, primarily due to repayments of payables from a suspended company[16]. - The net cash flow from investing activities was CNY 1,047,530.51, a significant increase of 303.78% from CNY -514,052.22, driven by increased returns from structured deposits[16]. - The net cash flow from financing activities was CNY 39,733,066.67, resulting from short-term loans obtained by subsidiaries[16]. - Cash generated from operating activities was ¥69,437,792.73, an increase of 18.1% from ¥58,799,102.19 in Q1 2014[37]. - The net cash flow from investment activities was 1,047,530.51 RMB, recovering from -514,052.22 RMB in the previous period[39]. - Cash flow from financing activities generated a net inflow of 39,733,066.67 RMB[39]. Assets and Liabilities - Total assets increased by 1.00% to CNY 1,913,317,754.88 compared to the end of the previous year[6]. - Total current assets increased to ¥1,806,222,531.62 from ¥1,785,165,455.72, representing a growth of approximately 1.04%[23]. - Total liabilities increased to ¥1,790,298,824.20 from ¥1,745,920,474.19, reflecting a rise of about 2.54%[25]. - Short-term borrowings rose to ¥1,398,000,000.00 from ¥1,358,000,000.00, an increase of approximately 2.94%[24]. - The company's equity attributable to shareholders decreased to ¥103,149,852.53 from ¥128,129,507.33, a decline of approximately 19.49%[25]. - The company's total liabilities amounted to ¥183,894,556.48, with total equity at ¥129,087,660.00 as of the end of Q1 2015[32]. Expenses - The company's sales tax and additional fees increased significantly to CNY 60,811.33, a rise of 1237.29% compared to CNY 4,547.36 in the same period last year, primarily due to increased VAT payments[14]. - Sales expenses rose to CNY 3,022,424.96, reflecting a 146.92% increase from CNY 1,224,067.29, mainly driven by higher employee compensation and direct sales logistics costs[14]. - Financial expenses increased by 34.04% to CNY 20,569,415.11 from CNY 15,345,759.25, attributed to interest accrued on entrusted loans by subsidiaries[14]. - Total operating costs for Q1 2015 were ¥92,763,804.12, down 5.3% from ¥98,030,764.79 year-over-year[31]. - The company recorded a significant increase in sales expenses, which rose to ¥3,022,424.96 from ¥1,224,067.29 year-over-year[32]. Investments - Investment income surged to CNY 1,363,966.51, a 2335.65% increase from CNY 56,000.00, mainly due to higher returns from structured deposits[14]. - Investment income for Q1 2015 was ¥1,363,966.51, significantly higher than ¥56,000.00 in Q1 2014[32]. - The company received 160,000,000.00 RMB from investment recoveries during the period[40]. Shareholder Information - The total number of shareholders reached 20,335 at the end of the reporting period[11]. - New Hope Chemical Investment Co., Ltd. holds 39.29% of the shares, totaling 187,233,501 shares[12]. Corporate Governance - The company has not disclosed any new product developments or market expansion strategies in this report[4]. - New Hope Chemical has committed to avoiding any business or investment that may compete with Baoshuo Co., ensuring no similar operations are conducted by its affiliates[19]. - New Hope Chemical will promptly notify Baoshuo Co. of any potential competitive opportunities and recommend participation[19]. - If any competition arises, New Hope Chemical will transfer the competing business to Baoshuo Co. or an independent third party[19]. - The actual controller of Baoshuo Co., Liu Yonghao, has also committed to not engaging in any competing real estate business during his control period[19]. - Baoshuo Co. has not indicated any significant changes in net profit compared to the previous year, as of the report date[20]. - The report was disclosed on April 28, 2015, by Chairman Huang Daiyun[20]. - New Hope Chemical has promised to maintain independence in operations, finance, and decision-making from Baoshuo Co.[19]. - The company has established a long-term commitment to avoid conflicts of interest and ensure fair pricing in related transactions[19]. - Baoshuo Co. is focused on maintaining its independent business operations and decision-making processes[19]. - The report includes a commitment to transparency in disclosing related party transactions as per legal requirements[19].

Financial Performance - Operating revenue increased by 1,410.67% to CNY 274,592,857.15 for the first nine months compared to the same period last year[7]. - Net profit attributable to shareholders was a loss of CNY 69,656,088.31, representing a decrease of 188.15% compared to the same period last year[7]. - Basic earnings per share decreased by 188.40% to CNY -0.169 for the first nine months compared to the same period last year[7]. - The company reported a net loss of ¥655,955,438.85, worsening from a loss of ¥586,299,350.54 in the previous period[26]. - The company reported a total profit of CNY -7,019,923.30 for the first nine months, a decrease from CNY -13,037,341.34 in the same period last year[38]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 121,255,478.30, an increase of 105.31% in outflow compared to the same period last year[7]. - The company reported a net cash outflow from operating activities of ¥-121,255,478.30, a decline of 105.31% compared to the previous period[12]. - Cash inflow from operating activities reached CNY 208,037,500.32, a substantial increase from CNY 13,423,876.87 in the previous year[39]. - The net cash flow from operating activities for the first nine months of 2014 was ¥254,382,345.16, a significant improvement compared to a net outflow of ¥40,650,830.54 in the same period last year[42]. - Total cash inflow from operating activities reached ¥439,378,061.44, compared to ¥21,251,973.35 in the previous year, indicating a year-over-year increase of approximately 1,967%[42]. Assets and Liabilities - Total assets decreased by 3.92% to CNY 1,727,337,172.97 compared to the end of the previous year[7]. - The company's total equity decreased to ¥31,835,230.21 from ¥105,151,013.41, representing a decline of approximately 69.7%[26]. - Total liabilities increased slightly to ¥1,695,501,942.76 from ¥1,692,575,365.32, showing a marginal rise of about 0.2%[26]. - Cash and cash equivalents decreased by 93.35% to ¥9,249,887.80 due to repayment of payables related to a suspended company[11]. - Inventory levels rose to ¥1,432,205,829.08 compared to ¥1,384,128,268.02 at the start of the year, suggesting potential overstocking or slower sales[24]. Shareholder Information - The total number of shareholders was 34,611 at the end of the reporting period[8]. - The top shareholder, New Hope Chemical Investment Co., Ltd., held 123,130,937 shares, accounting for 29.85% of total shares[9]. Financial Distress Indicators - The weighted average return on net assets was -153.316%, indicating significant financial distress[7]. - The company recorded an increase in asset impairment losses by 252.06% to ¥3,974,540.83, reflecting increased bad debt provisions[11]. - The company faced a penalty of ¥600,000 from the China Securities Regulatory Commission for previous violations, including failure to disclose related party transactions[16]. Changes in Financial Position - Cash and cash equivalents dropped significantly to ¥2,640,327.68 from ¥88,470,286.63, a decrease of about 97%[28]. - Other receivables fell to ¥49,697,958.49 from ¥343,188,670.75, indicating a reduction of approximately 85.5%[29]. - Inventory levels decreased to ¥4,349,924.39 from ¥9,422,665.63, a decline of about 53.8%[29]. Regulatory Compliance - The company has committed to minimizing related party transactions and ensuring fair pricing in such transactions[19]. - New Hope Chemical has pledged to maintain independence in operations and decision-making from Baoshuo Co., ensuring no conflicts of interest[19]. - The company has not reported any significant changes in accounting standards affecting its financial results for the current period[20]. - There are no warnings regarding potential losses or significant changes in net profit compared to the previous year[20].

Financial Performance - The company's operating revenue for the first half of 2014 was ¥176,759,769.71, a significant increase of 1,080.51% compared to ¥14,973,199.69 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of ¥34,365,385.84, an improvement of 35.59% from a loss of ¥53,357,710.73 in the previous year[20]. - The net cash flow from operating activities was -¥119,006,988.14, which represents a decline of 221.80% compared to -¥36,981,780.93 in the same period last year[20]. - The total profit loss of CNY 36,176,842.96 is an increase of CNY 17,240,328.77 year-on-year, attributed to changes in the scope of consolidation and product variety[27]. - The company reported an operating loss of CNY -59,422,365.46, compared to a loss of CNY -53,085,501.59 in the previous year[84]. - Net profit for the period was CNY -36,176,842.96, an improvement from CNY -53,417,171.73 year-over-year[84]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,738,456,584.55, a decrease of 3.30% from ¥1,797,726,378.73 at the end of the previous year[20]. - Total current assets decreased from 1,624,551,593.18 to 1,573,779,287.89, a decline of approximately 3.5%[77]. - Total liabilities decreased from 1,692,575,365.32 to 1,669,482,414.10, a reduction of about 1.4%[78]. - Total equity decreased from 105,151,013.41 to 68,974,170.45, a decline of about 34.4%[78]. - The company reported a net loss of 34,365,385.84 RMB for the current period, contributing to a decrease in total equity[95]. - Total equity attributable to the parent company decreased to -620,664,736.38 RMB from -586,299,350.54 RMB, reflecting ongoing financial challenges[95]. Cash Flow - The cash flow from operating activities was negative CNY 119,006,988.14, worsening by 221.80% compared to negative CNY 36,981,780.93 in the previous year[26]. - Cash inflow from financing activities was 78,110,000.00 RMB, while cash outflow was only 3,449.11 RMB, indicating strong financing support[93]. - The ending cash and cash equivalents balance was 3,583,493.42 RMB, down from 9,243,991.75 RMB in the previous period[93]. - The company is focusing on improving cash flow management and exploring new financing options to stabilize its financial position[93]. Shareholder Information - The company’s major shareholder, New Hope Chemical Investment Co., Ltd., holds 29.85% of the shares, totaling 123,130,937 shares[66]. - The total number of shareholders at the end of the reporting period was 43,362[66]. - The company has no plans for profit distribution or capital reserve transfer for the mid-year[44]. Governance and Compliance - The company has established a governance structure that complies with regulatory requirements, ensuring clear responsibilities among the board, supervisory board, and management[55]. - The company has committed to avoiding related party transactions and ensuring fair pricing in any unavoidable transactions with Baoshuo Co., Ltd.[53]. - The company received a fine of 600,000 yuan from the China Securities Regulatory Commission due to false statements, and relevant senior management personnel have since left the company[54]. Inventory and Receivables - Inventory at the end of the period is valued at 1,446,910,263.16, with a provision for decline in value of 7,270,872.58[190]. - The company reported accounts receivable of RMB 85,392,851.54, with a bad debt provision of RMB 9,500,511.89, representing 11.13% of the total[180]. - The aging analysis of prepayments shows that 97.38% (RMB 9,839,222.86) are within one year, indicating a strong liquidity position[184]. Accounting Policies - The company has not changed its accounting policies, estimates, or methods during the reporting period[56]. - The company’s financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[110]. - The company recognizes expected liabilities when obligations are likely to lead to economic outflows and can be reliably measured[156]. Business Operations - The company has shifted its main business focus to the production and sales of pipes and profiles, having ceased its original chlor-alkali chemical operations in June 2012[107]. - The company plans to enhance its production capacity by an additional 60,000 tons of plastic pipe profiles following the completion of its non-public stock issuance project initiated in 2013[33]. - The company’s business scope has been officially updated to include various types of plastic pipes and profiles as of March 27, 2014[107].

Financial Performance - Operating revenue increased by 485.50% to CNY 68,203,707.92 compared to the same period last year[9]. - Net profit attributable to shareholders improved by 47.37% to a loss of CNY 13,596,916.94 compared to the same period last year[9]. - Basic earnings per share were CNY -0.033, an improvement of 47.37% compared to CNY -0.063 in the same period last year[9]. - The company reported a net loss of CNY 599,896,267.48 in retained earnings as of March 31, 2014, compared to a loss of CNY 586,299,350.54 at the beginning of the year[24]. - The net loss for Q1 2014 was CNY 14,531,480.57, compared to a net loss of CNY 25,867,788.29 in the previous year, showing an improvement of approximately 44%[30]. - The company reported operating profit of negative CNY 29,771,056.87 for Q1 2014, compared to negative CNY 26,455,776.48 in the same period last year[30]. Cash Flow - Net cash flow from operating activities was negative at CNY -109,784,038.20, a decrease of 1,779.86% compared to the same period last year[9]. - Cash flow from operating activities for Q1 2014 was negative CNY 109,784,038.20, worsening from negative CNY 5,840,021.11 in the same period last year[34]. - Total cash inflow from operating activities was 54,515,271.47 RMB, while cash outflow was 129,989,151.18 RMB, resulting in a net cash flow from operating activities of -75,473,879.71 RMB[37]. - The company incurred substantial payments for goods and services, amounting to 35,949,285.72 RMB, compared to 11,110,050.55 RMB in the same period last year[37]. - The net cash increase for the period was -75,421,848.71 RMB, indicating a decrease in liquidity[38]. Assets and Liabilities - Total assets decreased by 2.05% to CNY 1,760,941,233.25 compared to the end of the previous year[9]. - Current liabilities totaled CNY 1,669,937,026.34, slightly down from CNY 1,692,190,691.25 at the start of the year[24]. - The company’s total liabilities decreased significantly, with accounts payable dropping by 34.32% to CNY 50,077,529.18 from CNY 76,250,165.73, due to repayments made during the period[14]. - Total liabilities decreased from CNY 593,202,358.44 to CNY 556,225,430.42, reflecting a reduction of approximately 6.2%[28]. - The company's total equity increased from CNY 4,276,533.09 to CNY 13,220,739.14, marking an increase of about 209%[28]. Shareholder Information - The total number of shareholders was 38,756 as of the report date[11]. - The largest shareholder, New Hope Chemical Investment Co., Ltd., holds 29.85% of the shares, totaling 123,130,937 shares[12]. - The controlling shareholder has committed to reducing and regulating related party transactions to protect the interests of the company and its minority shareholders[19]. - The company has made commitments to maintain independence in operations, finance, and management from the controlling shareholder[20]. Government Support and Subsidies - The company received government subsidies amounting to CNY 1,515,500.00 during the reporting period[10]. - The controlling shareholder has provided substantial financial support during the bankruptcy reorganization process to ensure the execution of the plan[19]. Operational Changes and Industry Context - The chlor-alkali division of the company has ceased operations since June 2012, resulting in no competition with the controlling shareholder[18]. - The chlor-alkali industry in China remains sluggish, with overall losses and no significant recovery trend observed[18]. - The company is currently involved in a legal dispute regarding the appointment of executives during the bankruptcy restructuring process, which may impact its operations[15]. Investment Activities - The company’s cash flow from investment activities turned negative at -CNY 514,052.22, a 742.57% decline from a positive CNY 80,000.00 in the previous year, due to equipment purchases by subsidiaries[14]. - The company disposed of fixed assets and received cash of 380,000.00 RMB during the investment activities[36].

Financial Performance - The company reported a net profit of ¥610,089,906.45 for the year 2013, but the total distributable profit was negative at ¥-662,667,027.34 due to accumulated losses from previous years[6]. - The company will not distribute profits or increase capital reserves for the year 2013, as approved by the board of directors[6]. - The company reported a revenue of CNY 71,700,010.10 for 2013, a decrease of 81.07% compared to CNY 378,805,013.46 in 2012[24]. - The net profit attributable to shareholders was CNY 693,636,185.44, a significant increase of 601.48% from a loss of CNY 138,316,582.15 in 2012[24]. - The net cash flow from operating activities was negative at CNY -801,784,561.26, a decline of 4,236.44% compared to CNY -18,489,453.78 in 2012[24]. - The total assets increased by 163.06% to CNY 1,797,726,378.73 at the end of 2013 from CNY 683,399,227.72 at the end of 2012[24]. - The company reported a significant increase in non-operating income, totaling CNY 979,646,031.51, compared to CNY 2,018,473.07 in the previous year[166]. - The company reported a net loss of CNY 586,299,350.54 for the year, an improvement from a loss of CNY 1,279,935,535.98 in the previous year[160]. - The total comprehensive income for the period, including net profit and other comprehensive income, was CNY 693,500,406.90[177]. Business Operations - The main business of the company has shifted from chlor-alkali chemicals and plastic products to the production and sales of plastic pipes and profiles since September 2013[15]. - The company experienced a 100% decrease in revenue from its chlor-alkali business due to its suspension in June 2012[27]. - The company's main business segments, including chlor-alkali chemicals, plastic films, and cement, reported zero revenue due to production stoppages, while the profile segment generated revenue of ¥40,085,727.44 with a gross margin of 5.97%[38]. - The company’s main business shifted to plastic profiles, with revenue from this segment reported at CNY 40,085,727.44[37]. - The company aims to transition its main business to plastic pipe profiles, ceasing its chlorine-alkali and cement operations to improve profitability and ensure sustainable development[63]. Risks and Challenges - The company has faced significant risks, which are detailed in the board report section of the annual report[10]. - The company successfully avoided the risk of delisting by improving its asset and operational status through various measures[24]. - The company faces risks from market competition, with low barriers to entry leading to potential overcapacity in low-end products, necessitating a focus on brand and quality to maintain profitability[68]. - PVC, which constitutes 70%-80% of production costs, is subject to price volatility, posing a risk to the company's profitability if prices rise significantly[68]. - Economic slowdowns and tightening real estate policies could adversely affect market demand for the company's products, highlighting the need for strategic adaptability[69]. Financial Strategy and Investments - The company has no outstanding financial investments or loans for the reporting period, indicating a conservative financial strategy[49][48]. - The company plans to enhance its market position by increasing plastic pipe and profile production capacity by 60,000 tons following the completion of its non-public stock issuance project[43]. - A non-public stock issuance is underway to raise 200 million yuan, with net proceeds allocated to a project that will increase annual production capacity by 60,000 tons of plastic building materials[70]. - The company signed a loan agreement for 1,018 million CNY with Baoding Bank, with a loan term from October 28, 2013, to October 27, 2014, at an annual interest rate of 6%[84]. - The company has made significant investments in fixed assets, totaling CNY 114,078,814.55, down from CNY 395,514,076.89, indicating a strategic shift in asset management[159]. Corporate Governance - The company has maintained independence in operations and decision-making from its controlling shareholder, New Hope Chemical[91]. - The company has a robust investor relations management system to ensure effective communication with investors and protect their rights[135]. - The board of directors operates independently, with independent directors playing a significant role in decision-making and oversight[134]. - The company has established a performance evaluation system for senior management, which is linked to their compensation based on objective assessments[144]. - The company has maintained a strong governance framework with independent directors contributing to oversight[120]. Subsidiaries and Market Position - The company holds a 100% equity stake in several subsidiaries, including those involved in PVC plastic products and real estate development, reflecting a diversified business portfolio[46]. - The company completed the bankruptcy reorganization plans for its subsidiaries, the profile company and the pipe company, with the plans executed successfully by September 23, 2013, and December 26, 2013, respectively[77]. - The company has 10 subsidiaries included in the consolidated financial statements as of December 31, 2013[188]. - The company is actively engaging in land revitalization efforts to enhance sustainable development capabilities in line with local urban development plans[97]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 1,143, with 93 in the parent company and 1,050 in subsidiaries[129]. - The professional composition includes 632 production personnel, 82 sales personnel, 75 technical personnel, 31 financial personnel, and 323 administrative personnel[129]. - The company emphasizes employee training through a combination of internal and external training resources, focusing on operational skills for frontline employees and management skills for managers[130]. - The total remuneration for all directors, supervisors, and senior management personnel amounted to 913,300 RMB during the reporting period[127]. - The company has a diverse board with members having extensive experience in various industries, enhancing strategic decision-making[116].