Financial Performance - The company's operating revenue for 2020 was approximately CNY 16.05 billion, a slight decrease of 0.09% compared to 2019 [25]. - The net profit attributable to shareholders for 2020 was CNY 95.38 million, representing a significant decline of 89.39% year-over-year [25]. - The net cash flow from operating activities decreased by 47.48% to CNY 988.69 million in 2020 [25]. - Basic earnings per share for 2020 were CNY 0.04, down 87.88% from CNY 0.33 in 2019 [26]. - The total assets at the end of 2020 were approximately CNY 15.69 billion, an increase of 0.46% compared to the previous year [25]. - The company reported a net asset attributable to shareholders of CNY 12.49 billion, down 3.21% from 2019 [25]. - The company experienced a significant drop in the weighted average return on net assets, which fell to 0.75%, a decrease of 6.30 percentage points from the previous year [26]. - The company reported a quarterly operating revenue of CNY 5.14 billion in Q4 2020, the highest among the four quarters [27]. - The net profit attributable to shareholders in Q4 2020 was CNY 56.88 million, showing recovery compared to previous quarters [27]. - The company reported a total profit of 208,169,637.90 RMB for the year, with a significant increase in non-operating income amounting to 22,854,151.87 RMB [29]. Dividend Distribution - The company plans to distribute a cash dividend of 1.0 yuan (including tax) for every 10 shares, totaling 269,974,608.10 yuan based on the total share capital of 2,699,746,081 shares as of the end of 2020 [3]. - The company does not plan to issue stock dividends or increase capital reserves into share capital for this distribution [3]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report [2]. - The board of directors and senior management have confirmed the authenticity and completeness of the annual report [2]. - The company has not violated decision-making procedures in providing guarantees to external parties [4]. - There are no non-operating fund occupations by controlling shareholders or related parties reported [4]. Risk Management and Future Outlook - The company has outlined potential risks that may affect its future development strategies and operational goals in the report [5]. - The report includes a detailed discussion of the company's future development and associated risks [5]. - Future outlook includes a commitment to research and development of new technologies to improve product efficiency and reduce environmental impact [11]. Environmental Initiatives - The company is involved in greenhouse gas reduction projects in developing countries [9]. - The company is committed to complying with international regulations regarding the reduction of ozone-depleting substances [9]. - The company has established a strategy for the gradual phase-out of HCFCs and HFCs in line with global environmental agreements [9]. - The company is focused on developing new technologies to replace traditional refrigerants with more environmentally friendly options [9]. - The focus on low global warming potential (GWP) refrigerants aligns with global regulatory trends, positioning the company favorably in the market [11]. Research and Development - The company is committed to research and development in new technologies to improve product efficiency and reduce environmental impact [10]. - The company has applied for 106 technology patents during the reporting period, with 62 patents granted, including 2 in the USA and 4 in Japan [40]. - The company invested CNY 459 million in R&D, implementing 117 projects focused on new product trials, industrialization, and process improvements [122]. Market Position and Product Development - The company operates in the fluorochemical and chlor-alkali chemical industries, focusing on the research, production, and sales of basic chemical raw materials and fluorochemical products [32]. - The company has established a complete fluorochemical industry chain, positioning itself as a domestic leader in the sector, particularly in fluorinated refrigerants, where it holds a global leading position [34]. - The company is actively pursuing market expansion in the medical and agricultural sectors, leveraging its expertise in aerosol and foam agents [11]. - The company is focusing on high-performance fluoropolymers and specialized products to meet the growing demand and replace imports in the market [103]. Challenges and Industry Trends - The company faced challenges from the COVID-19 pandemic, global economic downturn, and intense competition, impacting production and operational stability [46]. - The chemical industry is currently facing weak market demand and intensified competition, leading to a notable decline in product prices and industry profits [76]. - The industry is expected to shift towards high-quality development, focusing on innovation and effective supply to meet market demands [92]. - The fluorochemical industry has become a crucial part of China's strategic emerging industries, significantly contributing to the upgrade of traditional industries and the development of new energy sectors [94].

Financial Performance - Operating revenue for the first nine months was CNY 10,910,659,143.34, a decrease of 6.88% year-on-year[5] - Net profit attributable to shareholders of the listed company was CNY 38,496,104.78, down 95.69% compared to the same period last year[5] - The company reported a loss of CNY 113,314,816.62 in net profit attributable to shareholders after deducting non-recurring gains and losses[6] - Basic earnings per share for the reporting period was CNY 0.014, a decline of 95.69% compared to the same period last year[6] - The company anticipates a substantial decline in cumulative net profit compared to the same period last year due to weak market demand and intensified competition[14] - The company's net profit for the first three quarters of 2020 was approximately ¥10.91 billion, down from ¥11.72 billion in the same period of 2019, reflecting overall market challenges[24] - The net profit attributable to shareholders for Q3 2020 was ¥25.69 million, compared to ¥187.70 million in Q3 2019, indicating a significant decline[26] - The total profit for Q3 2020 was ¥27.97 million, down from ¥220.18 million in the same period last year[27] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 15,966,643,298, an increase of 2.19% compared to the end of the previous year[5] - Total non-current assets reached ¥9,683,443,058.86, an increase of 8.4% from ¥8,931,807,629.74[18] - Total liabilities increased to ¥3,162,404,374.54, up from ¥2,323,122,806.30, representing a growth of 36.1%[19] - The company’s total liabilities to equity ratio increased, indicating a higher leverage position compared to the previous year[19] - Total current assets amounted to CNY 6,692,722,086.56, remaining unchanged from the previous reporting date[37] - Total non-current assets were CNY 8,931,807,629.74, consistent with the prior period[37] - Total liabilities were reported at CNY 1,730,641,658.25, with current liabilities comprising CNY 1,594,185,054.54[42] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 374,385,466.58, a significant decrease of 67.93% year-on-year[5] - Cash inflow from operating activities totaled 12,619,115,309.32 CNY, down from 13,469,352,542.15 CNY in Q3 2019[31] - Cash outflow from operating activities was 12,244,729,842.74 CNY, slightly lower than 12,302,017,958.63 CNY in the same quarter last year[31] - The net cash flow from operating activities for Q3 2020 was 374,385,466.58 CNY, a decrease from 1,167,334,583.52 CNY in Q3 2019[31] - The net cash flow from investing activities was -334,230,590.56 CNY, improving from -904,286,934.97 CNY in the previous year[32] - Cash flow from financing activities showed a net increase of 44,606,725.49 CNY, compared to a net outflow of -636,646,157.79 CNY in Q3 2019[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 75,423[9] - The largest shareholder, Juhua Group Co., Ltd., held 52.70% of the shares[9] Government Support - Government subsidies recognized in the current period amounted to CNY 84,299,297.41, contributing to the overall financial performance[7] Receivables and Inventory - Accounts receivable increased by 49.69% to CNY 598,210,111.48 from CNY 399,619,719.52 due to increased credit sales[12] - Inventory increased to ¥1,223,095,341.77, compared to ¥1,033,339,148.98, reflecting a growth of 18.4%[17] Expenses - The company reported a 49.02% decrease in taxes and surcharges to CNY 32,474,828.92 from CNY 63,707,276.89, attributed to reduced tax expenses[12] - Financial expenses decreased significantly, with interest expenses rising by 137.87% to CNY 4,076,605.35 from CNY 1,713,760.82, indicating increased borrowing costs[12] - The company experienced a 346.72% increase in non-operating expenses to CNY 31,084,346.33 from CNY 6,958,395.39, primarily due to the disposal of non-current assets[12] Research and Development - R&D expenses increased significantly to approximately ¥183.65 million in Q3 2020, up from ¥92.86 million in Q3 2019, reflecting a focus on innovation[24] - Research and development expenses for Q3 2020 were ¥20.28 million, a decrease from ¥22.70 million in Q3 2019[28] Investment Performance - The company reported a significant increase in investment income to approximately ¥46.99 million in Q3 2020, compared to ¥29.33 million in Q3 2019, suggesting improved investment performance[24]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2020, representing a year-over-year growth of 12%[17]. - The company's operating revenue for the first half of the year was ¥6,942,743,798.35, a decrease of 8.40% compared to the same period last year[24]. - The net profit attributable to shareholders was ¥15,751,128.14, reflecting a significant decline of 97.77% year-on-year[24]. - The basic earnings per share decreased to ¥0.006, a drop of 97.67% compared to ¥0.257 in the same period last year[25]. - The total profit amounted to 56 million yuan, reflecting a significant year-on-year decline of 93.56%, while the net profit attributable to shareholders was 15.8 million yuan, down 97.77%[42]. - The company reported a total comprehensive income of CNY -53,962,687.77 for the first half of 2020[153]. - The company reported a decrease in cash received from sales of goods and services, totaling 7,617,794,308.84 RMB, down from 8,193,991,262.45 RMB in the first half of 2019, representing a decline of approximately 7%[143]. Operational Highlights - The company has established various subsidiaries to enhance its operational capabilities and market reach[9]. - The company is actively involved in the production of PVC plastic through the polymerization of VCM, which is a key raw material in their operations[10]. - The company is focusing on the development of new refrigerants, including HFC-32, which has no ozone-depleting potential[11]. - The company is committed to reducing HFCs consumption and production by 15% by 2036 based on the average usage from 2011 to 2013 for developed countries, and by 20% by 2045 for developing countries based on the average from 2020 to 2022[10]. - The company is exploring new strategies for market expansion and product development in response to regulatory changes in refrigerants[10]. Research and Development - The company is investing in research and development for new technologies to enhance the efficiency and sustainability of its product offerings[10]. - The company has established a comprehensive R&D system, with six key subsidiaries certified as national high-tech enterprises as of June 30, 2020[36]. - The company applied for 20 technology patents and received 22 patent authorizations during the reporting period, including 2 US patents and 1 Japanese patent[64]. - The company is focusing on the development of high-value-added fourth-generation refrigerants, fluorinated polymers, fine chemicals, and new varieties of PVDC to enhance product structure optimization[94]. Environmental Commitment - The company is committed to adhering to the Montreal Protocol and its amendments, ensuring compliance with global environmental standards[10]. - The company has been recognized as a national model for circular economy and has received multiple awards for environmental protection and quality management[37]. - The company invested 60 million yuan in environmental hazard remediation during the reporting period[113]. - The company has focused on ecological civilization construction, aiming for reduction, recycling, and harmlessness in pollution control[120]. Market Strategy - The company is expanding its market presence in the chemical industry by enhancing its product offerings and focusing on sustainable solutions[11]. - The company plans to enhance market share and production capacity for core products such as refrigerants and fluorinated polymer materials[55]. - A strategic acquisition of a local competitor is in progress, expected to enhance market share by 10% upon completion[17]. - The company aims to enhance its competitive edge through mergers and acquisitions in the chemical sector, targeting synergies and increased market share[14]. Financial Position - The total assets at the end of the reporting period were ¥15,988,408,397.71, an increase of 3.92% from the end of the previous year[24]. - The total liabilities increased to CNY 3,219,394,251.30 from CNY 2,168,506,621.55, indicating a rise of approximately 48.5%[133]. - The company's total equity attributable to shareholders decreased by CNY 509,453,064.13 in the first half of 2020[152]. - The company's cash and cash equivalents increased to CNY 2,188,603,690.87 from CNY 1,863,761,797.64, representing a growth of about 17.43%[132]. Risk Management - The company faces risks related to the uncertainty of the COVID-19 pandemic, which may adversely affect its supply chain and operational stability[85]. - The company is exposed to safety production risks inherent in the chemical industry, necessitating strict adherence to safety management protocols[86]. - Environmental regulations are tightening, which may impact the company's operations and require increased investment in compliance measures[88]. - The company is vulnerable to product price volatility, which is closely linked to macroeconomic conditions and industry cycles[89]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the accuracy and completeness of the financial report[4]. - The company is committed to maintaining transparency and accountability in its financial disclosures, as stated by the management team[4]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company reported no profit distribution or capital reserve transfer to increase share capital during the reporting period[5].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the year, representing a growth of 15% compared to the previous year[19]. - The company's operating revenue for 2019 was approximately ¥15.60 billion, a decrease of 0.39% compared to ¥15.66 billion in 2018[25]. - The net profit attributable to shareholders for 2019 was approximately ¥895.36 million, representing a significant decline of 58.40% from ¥2.15 billion in 2018[25]. - The basic earnings per share for 2019 was ¥0.33, down 57.69% from ¥0.78 in 2018[28]. - The weighted average return on equity decreased to 7.05% in 2019, down 11.03 percentage points from 18.08% in 2018[28]. - The net cash flow from operating activities for 2019 was approximately ¥1.88 billion, a decrease of 40.98% compared to ¥3.19 billion in 2018[25]. - The total assets at the end of 2019 were approximately ¥15.39 billion, an increase of 0.78% from ¥15.27 billion at the end of 2018[27]. - The net profit after deducting non-recurring gains and losses for 2019 was approximately ¥573.98 million, a decrease of 71.06% from ¥1.98 billion in 2018[25]. - The company reported a net profit of ¥4.59 million in Q4 2019, a significant drop compared to the previous quarters[30]. - The company’s net assets attributable to shareholders increased by 2.44% to approximately ¥12.89 billion in 2019 from ¥12.59 billion in 2018[27]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares to all shareholders, pending approval at the 2019 annual general meeting[2]. - The company has not proposed any capital reserve transfer to increase share capital in the profit distribution plan[2]. Governance and Compliance - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[3]. - The company has received a standard unqualified audit report from Tianjian Accounting Firm[2]. - The board of directors and supervisory board members have all attended the board meeting, ensuring the integrity of the report[2]. - The company has not violated decision-making procedures in providing guarantees to external parties[3]. - The company has committed to ensuring the accuracy and completeness of the financial report[2]. - The company has confirmed that all board members are present for the meeting, reinforcing governance and accountability[2]. Risk Management and Future Strategies - The company has outlined potential risks that may affect its future development strategies and operational goals in the report[4]. - The company has detailed its future plans and strategic developments, emphasizing the importance of risk awareness for investors[3]. Environmental Commitment and Sustainability - The company is committed to reducing HFCs consumption by 15% by 2036, based on the average usage from 2011 to 2013[8]. - The company plans to freeze HFCs production and consumption in developing countries starting in 2024, with a reduction target of 20% by 2045[8]. - The company is focusing on the development of HFOs as a fourth-generation refrigerant, which has zero ODP and low GWP[8]. - The company has established a strategy to comply with the Kigali Amendment to the Montreal Protocol, aiming for significant reductions in greenhouse gas emissions[8]. - The company is committed to sustainability and compliance with international environmental regulations, ensuring long-term growth[8]. - The company is actively involved in the clean development mechanism (CDM) to offset emissions through projects in developing countries[8]. - The company is exploring mergers and acquisitions to strengthen its supply chain and expand its market reach[10]. Product Development and Market Expansion - The company is expanding its product line to include various fluorinated chemicals, which are essential for multiple industries[10]. - The company is investing in new technologies for the production of environmentally friendly refrigerants, enhancing its market position[10]. - The company is focusing on expanding its product offerings in the refrigerant market, particularly with the introduction of new blends like R407C and R507A[12]. - The company is committed to ensuring compliance with environmental regulations while enhancing its product portfolio in the refrigerant sector[12]. - The company is actively involved in the production of HCFC-141b, which serves as a substitute for CFCs in various applications, reflecting its adaptation to regulatory changes in the industry[12]. - The company is focusing on technology-driven growth and high-value new product development in response to environmental and resource constraints[116]. Market Trends and Economic Environment - The global economic environment was challenging, with China's GDP growth slowing to 6.1%, a decrease of 0.5 percentage points year-on-year, contributing to increased economic downward pressure[50]. - The company experienced a significant decline in product prices due to a shift from recovery growth to weakness in market demand, with a notable drop in the chemical industry[50]. - The average prices of major products decreased significantly, with fluorinated chemical raw materials down 21.15% and refrigerants down 20.02% year-on-year[52]. - The fluorochemical industry in China has seen significant growth, driven by domestic resources and increasing demand, with a steady annual growth in demand for fluorochemical products[102]. - The industry is transitioning from low-end to high-end products, with a focus on structural adjustments and quality improvements[103]. Research and Development - The company has a strong R&D capability, with 290 authorized patents, including 12 foreign patents, and has applied for 60 new technology patents during the reporting period[43]. - The company completed R&D investment of 498 million yuan, implementing 63 projects related to new product trials, industrialization, and process improvements[127]. - The company is expected to see a significant increase in domestic caprolactam production capacity over the next three years, with competitors having capacities of 100,000 tons/year and above[121]. Regulatory Compliance and Environmental Standards - The company is subject to stricter regulations under the new chemical management standards, including the identification of major hazards in hazardous chemicals effective from March 1, 2019[90]. - The company must conduct safety drills for hazardous materials at least biannually, as mandated by the emergency management regulations effective from September 1, 2019[90]. - The company is required to comply with the new wastewater and air pollutant discharge standards set by the Zhejiang Province, effective from July 1, 2020[91]. - The company is working towards a comprehensive VOCs pollution prevention management system, aiming for a national emission reduction of over 10% by 2020[90]. Strategic Acquisitions and Partnerships - A strategic acquisition of a smaller competitor is in progress, expected to enhance product offerings and increase overall market competitiveness[19]. - The company has established new investments in various companies, including 5,000 million RMB in Zhejiang Fuzhe Integrated Circuit Industry Development Co., Ltd.[200].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 7,579,706,708.40, a decrease of 6.50% compared to CNY 8,106,939,789.87 in the same period last year[20]. - Net profit attributable to shareholders of the listed company was CNY 705,424,131.90, down 33.75% from CNY 1,064,726,667.61 in the previous year[20]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 531,911,679.64, a decrease of 44.35% compared to CNY 955,749,407.74 last year[20]. - The net cash flow from operating activities was CNY 764,432,947.78, down 44.48% from CNY 1,376,875,945.89 in the same period last year[20]. - Total profit amounted to 873 million yuan, reflecting a year-on-year decline of 34.22%, while net profit attributable to shareholders was 705 million yuan, down 33.75%[42]. - The company reported a significant increase in other receivables, which rose to CNY 68,730,828.52 from CNY 65,844,932.80, a growth of about 4.5%[103]. - The company reported a total cash inflow from financing activities of ¥652,926,298.34, down from ¥1,095,276,874.37 in the previous year, reflecting a decrease of 40.41%[116]. Risk Management - The company has detailed potential risks in the report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company is committed to enhancing risk management, particularly in safety production and operational risks, to ensure sustainable development[54]. - The company faces safety production risks due to the hazardous nature of the chemical industry, emphasizing the need for strict management and emergency response mechanisms[67]. - Environmental protection risks are heightened as stricter regulations may impact operational performance, necessitating increased investment in compliance measures[67]. - The company is exposed to product price volatility risks, which could adversely affect performance due to macroeconomic fluctuations and industry capacity releases[67]. Compliance and Governance - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the financial report[4]. - The company has not indicated any violations in decision-making procedures regarding external guarantees[6]. - The company has no major litigation or arbitration matters during the reporting period[75]. - The company has appointed Tianjian Accounting Firm as the financial and internal control auditor for the 2019 fiscal year[74]. - The company has no overdue guarantees or potential joint liability for unexpired guarantees[81]. Environmental Commitment - The company emphasizes a circular economy and sustainable development in its operations, aligning with national policies[30]. - The company is focused on maintaining compliance with environmental regulations while ensuring the sustainability of its operations[10]. - The company has implemented pollution prevention facilities that operate in conjunction with production processes to ensure compliance with environmental standards[87]. - The total greenhouse gas emissions reported by the eight subsidiaries of the company amounted to 4,797,308 tons of CO2 equivalent for the year 2018[90]. - The company achieved a voluntary reduction of 29,808,100 tons of CO2 equivalent through the destruction of HFC-23 generated during the production of HCFC-22[90]. Product Development and Market Strategy - The company is committed to developing new products and technologies in the fluorochemical sector to meet market demands[10]. - The company aims to expand its market presence by enhancing its product offerings and exploring new applications for its chemical products[10]. - The company is actively pursuing strategic initiatives to optimize its supply chain and reduce dependency on specific raw materials[10]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its capabilities[10]. - The company is focusing on the development of fluorinated fine chemicals, which are essential intermediates in various industries[12]. Financial Position - The company's total assets increased by 2.86% to CNY 15,702,892,401.87 compared to CNY 15,266,821,930.51 at the end of the previous year[20]. - Net assets attributable to shareholders of the listed company increased by 2.03% to CNY 12,840,118,445.03 from CNY 12,585,018,800.78 at the end of last year[20]. - The company's total liabilities increased to CNY 2,546,001,658.42 from CNY 2,381,747,798.42, representing a growth of about 6.92%[105]. - The company's equity attributable to shareholders rose to CNY 12,840,118,445.03 from CNY 12,585,018,800.78, indicating an increase of approximately 2.02%[105]. - The company reported a significant increase in construction projects, with in-progress construction assets rising by 89.66% to approximately 1.08 billion[58]. Research and Development - Research and development investment was 247 million yuan, focusing on advanced fluorine and chlorine new materials and new applications[49]. - The company plans to invest in research and development to innovate and improve its product lines[10]. - The company is investing in R&D to innovate new applications for its fluoropolymer products, targeting high-growth markets[12]. - The company has established a systematic amortization schedule for intangible assets, with specific amortization periods for management software, proprietary technology, and land use rights[163]. Shareholder Information - The company intends to repurchase shares with a total fund not less than RMB 300 million and not exceeding RMB 600 million, at a price not exceeding RMB 11.65 per share[73]. - The total number of common stock shareholders reached 78,732 by the end of the reporting period[95]. - The largest shareholder, Juhua Group Co., Ltd., held 1,060,943,317 shares, representing 38.65% of the total shares[96]. - The second-largest shareholder, Juhua Group - Zheshang Securities, held 364,000,000 shares, accounting for 13.26%[96].

Financial Performance - The company reported a significant increase in revenue, with a year-over-year growth of 15% in 2018[13]. - The company's operating revenue for 2018 was approximately ¥15.66 billion, representing a 13.42% increase from ¥13.80 billion in 2017[26]. - The net profit attributable to shareholders for 2018 was approximately ¥2.15 billion, a significant increase of 136.97% compared to ¥908 million in 2017[26]. - The net cash flow from operating activities reached approximately ¥3.19 billion, marking a 238.03% increase from ¥943 million in the previous year[26]. - The total assets at the end of 2018 amounted to approximately ¥15.27 billion, reflecting a 16.30% increase from ¥13.13 billion at the end of 2017[26]. - The net assets attributable to shareholders increased to approximately ¥12.59 billion, a rise of 15.04% from ¥10.94 billion in 2017[26]. - Basic earnings per share for 2018 were ¥0.78, up 136.36% from ¥0.33 in 2017[27]. - The weighted average return on equity for 2018 was 18.08%, an increase of 9.60 percentage points from 8.48% in 2017[27]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately ¥1.98 billion, a 123.28% increase from the previous year[26]. Dividends and Profit Distribution - The company plans to distribute cash dividends of 1.5 RMB per 10 shares, totaling approximately 411.77 million RMB based on the total share capital of 2,745,166,103 shares as of the end of 2018[4]. - In 2018, the cash dividend per 10 shares was 1.5 RMB, totaling 411,774,915.45 RMB, which accounted for 19.13% of the net profit attributable to ordinary shareholders[196]. - The cash dividend ratio complies with the company's articles of association, ensuring that the cumulative cash distribution over the last three years is no less than 30% of the average distributable profit[195]. - The company has ensured transparency and operability in its profit distribution decision-making process to protect the rights of minority shareholders[195]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[3]. - The board of directors and senior management have guaranteed the accuracy and completeness of the annual report[2]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[5]. - There are no violations of decision-making procedures regarding external guarantees[6]. - The company has adjusted its accounting policies in accordance with the Ministry of Finance's requirements, applying retrospective adjustments for the 2018 financial statements[199]. Research and Development - The company is investing in R&D for new chemical products, with a budget increase of 30% in 2019[13]. - The company invested CNY 496 million in R&D, implementing 110 projects focused on new product development and industrial upgrades[97]. - The company employed 824 R&D personnel, making up 12.45% of the total workforce, with no capitalized R&D expenses reported[60]. - The company acquired 100% equity of Zhejiang Juhua Technology Center Co., Ltd. and Zhejiang Juhua New Materials Research Institute Co., Ltd., enhancing its core technology innovation capabilities[37]. - The company has filed 51 patent applications and received 40 patent grants during the reporting period, increasing its total authorized patents to 240[98]. Market Expansion and Strategy - The company plans to expand its market presence in Asia, targeting a 25% increase in sales in the region by 2020[13]. - A strategic acquisition of a competitor is anticipated to enhance the company's product offerings and market reach, expected to be finalized by Q2 2019[13]. - The company is focusing on expanding its advanced chemical materials segment, which is expected to drive future growth[35]. - The company is actively involved in research and development to enhance its product offerings and maintain its competitive edge in the market[33]. - The company is focusing on mergers and acquisitions, particularly in the chemical new materials sector, to enhance vertical integration and extend the industrial chain[185]. Risk Management - The company has outlined potential risk factors that may impact future development strategies and operational goals in the report[6]. - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements[5]. - The company is facing risks related to safety production due to the hazardous nature of the chemical industry, and is implementing comprehensive safety management measures[186]. - The company is addressing environmental risks by adhering to stricter pollution control measures and investing in new technologies to meet rising environmental standards[187]. - The company is vulnerable to product price fluctuations due to the cyclical nature of the chemical industry, and is working to enhance its resilience through product diversification and innovation[188]. Production and Operations - The company reported a significant increase in the production of HFO-1234fy, a fourth-generation refrigerant, which is now widely used in various applications including refrigeration and fire extinguishing agents[15]. - The production of HCFC-22 is projected to increase by 15% to meet rising demand in the refrigeration sector[13]. - The company has a total ammonia production capacity of 350,000 tons/year, urea capacity of 230,000 tons/year, methanol capacity of 130,000 tons/year, and liquid nitrogen capacity of 36,300 tons/year[90]. - The company’s production processes for AHF and R125 are at the domestic advanced level, ensuring efficient production of key fluorinated chemicals[99][109]. - The company has implemented a mixed sales model, including direct sales, distribution, and e-commerce platforms[158]. Environmental and Regulatory Compliance - The company is committed to enhancing its safety production standards in line with national regulations, with 362 standards planned for the "13th Five-Year" period[71]. - The company is subject to strict controls and regulations on the production and consumption of HCFCs, in compliance with the Montreal Protocol, which mandates a phased reduction of HCFCs by 97.5% by 2030[74]. - The company is aligned with global climate governance efforts, having signed the Paris Agreement in 2016, which emphasizes financial support for developing countries in their emission reduction efforts[74]. - The company is actively monitoring changes in industrial policies related to HFCs, with the EU aiming for a 79% reduction in HFC quotas by 2030 and a complete ban on high GWP refrigerants in aerosols starting January 1, 2018[77]. Product Development and Innovation - New product development includes the introduction of HFC-410a, a low-temperature environmentally friendly refrigerant, which is expected to capture a significant market share[13]. - The introduction of new technologies in production is expected to enhance product quality and reduce waste by 10%[13]. - The company is focusing on developing low GWP ozone-depleting substance (ODS) alternatives, including fluorinated fine chemicals and high-quality fluorinated inorganic salts[68]. - The company is focusing on high-value new product development and environmentally friendly production processes, shifting from scale-driven growth to quality-driven growth strategies[88].

| 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 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。 2018 年第三季度报告 公司代码：600160 公司简称：巨化股份 浙江巨化股份有限公司 2018 年第三季度报告 1 / 21 1.3 公司负责人胡仲明、主管会计工作负责人王笑明及会计机构负责人（会计主管人员）王笑明 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 3 / 21 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 16,108,090,141.22 12,948,755,748.41 24.40 归属于上市公司股东的 净资产 ...