Financial Performance - The company reported no profit distribution or capital reserve transfer to increase share capital during the reporting period[5]. - The company achieved operating revenue of 8.184 billion yuan, a year-on-year increase of 14.22%, with main business revenue of 6.669 billion yuan, up 21.80%[30]. - The net profit attributable to shareholders of the listed company reached ¥104,059,421.78, a significant increase of 644.15% year-on-year[25]. - The company reported a significant increase in revenue, driven by strong demand for its refrigerants, with a year-over-year growth of 15%[14]. - Future outlook remains positive, with projected revenue growth of 10% for the next fiscal year, supported by ongoing market expansion efforts[14]. - The company reported a net profit of ¥57,681,052.69 after deducting non-recurring gains and losses, which is not applicable for year-on-year comparison[25]. - The company's operating revenue for the first half of 2021 was ¥8,184,390,016.02, representing a 14.22% increase compared to the same period last year[25]. - The total profit reached 137 million yuan, representing a year-on-year growth of 157.54%, while the net profit attributable to shareholders was 104 million yuan, an increase of 644.15%[30]. - The company reported a significant increase in the production of key chemical products, including cyclohexanone, which is essential for nylon and other industrial applications[17]. - The company reported a net loss of ¥323,969,529.72 during the first half of 2021, indicating a challenging financial environment[155]. Compliance and Regulatory Matters - The company has outlined its compliance with the Montreal Protocol and its amendments regarding the reduction of hydrofluorocarbons[11]. - The company is committed to adhering to environmental regulations regarding the production and consumption of ozone-depleting substances[12]. - The management emphasizes the importance of adhering to regulatory decision-making procedures in providing guarantees[6]. - The company is exposed to risks from rising environmental standards, which may impact operational performance due to increased compliance costs and potential equipment obsolescence[83]. - The company has implemented online monitoring for wastewater and waste gas emissions from its key pollutant discharge units[94]. - The company reported no exceedance of pollutant discharge standards across its key pollutant discharge units[95]. - The company has established emergency response plans for environmental incidents and filed them with the local ecological environment bureau[100]. - The company received environmental impact assessment approvals for four projects, including a 400,000 tons/year sodium expansion project[99]. Research and Development - The company is investing in research and development for new chemical products to enhance its product portfolio and meet market demands[13]. - The company is focusing on the development of new refrigerants that serve as alternatives to traditional ones, contributing to environmental sustainability[13]. - The company is actively involved in the production of PVC plastic through the polymerization of VCM, which is a key raw material[12]. - The company has established a comprehensive R&D system, including a national-level enterprise technology center and various research institutes, enhancing its innovation capabilities[34]. - The company's R&D expenses increased by 61.13% to approximately ¥259 million, reflecting a focus on innovation and high-end product development[67]. - The company is focusing on expanding its product offerings in high-performance materials, particularly in the lithium-ion battery sector, where PVDF is a key raw material[15]. Market Expansion and Strategy - The company is exploring new strategies for market expansion and product development in response to regulatory changes and market demands[12]. - The company plans to expand its market presence in the fluorochemical sector, targeting growth in both domestic and international markets[13]. - Market expansion strategies include targeting emerging markets, which are anticipated to contribute an additional 5% to overall revenue growth[14]. - The company is exploring potential mergers and acquisitions to strengthen its position in the refrigerant market and diversify its product offerings[14]. - The company is strategically positioning itself for future growth through potential mergers and acquisitions in the specialty materials sector[15]. - The company aims to enhance its market share in fluorinated chemical products and improve competitiveness through digital transformation and green development strategies[64]. Environmental Responsibility - The company is committed to sustainability and is actively working on developing eco-friendly materials and processes[15]. - The company aims for "zero loopholes, zero accidents, and zero injuries" in its environmental management strategy[98]. - The company has actively engaged in environmental protection initiatives, including zero direct discharge of wastewater and air quality monitoring[108]. - The company reduced water, coal, electricity, and steam consumption per ten thousand industrial added value by 51.2%, 41.3%, 43.0%, and 45.3% year-on-year, respectively, resulting in a total reduction of 1.56 million tons of carbon dioxide emissions[109]. - The company is focused on green development and optimizing its operations in response to national carbon neutrality goals, which may impose stricter production regulations[88]. Financial Position and Assets - The total assets of the company at the end of the reporting period were ¥16,097,021,541.46, an increase of 2.58% from the previous year[25]. - The company's total liabilities at the end of the reporting period were approximately 2,549,274,000.00[150]. - The company's total equity decreased by approximately 450,725,930.00 compared to the previous period[150]. - The company's cash and cash equivalents decreased by 19.69% to ¥1,346,945,130.58, accounting for 8.37% of total assets[69]. - The company reported a total asset value of CNY 13,975,607,789.82 as of June 30, 2021[130]. - The company's equity attributable to shareholders was CNY 6,475,607,789.82 as of June 30, 2021[130]. Risks and Challenges - The company faces risks from the ongoing uncertainty of the COVID-19 pandemic, which may adversely affect its supply chain and normal operations[83]. - The company is at risk from rising prices of key raw materials and energy, which could negatively impact its operating results[85]. - The company anticipates challenges from rising raw material costs and intensified competition in the HFCs market, impacting future performance[64]. - The company acknowledges the cyclical nature of the chemical industry, which may lead to price volatility and potential adverse effects on financial performance if supply exceeds demand[84]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the authenticity and completeness of the semi-annual report[4]. - The company appointed Zhou Li Yang as the chairman of the board and elected Li Jun as a director in 2021[91]. - The company has not reported any significant changes in its registered address or office address during the reporting period[21]. - The company has not reported any significant contracts or other major matters during the reporting period[124].

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 - Operating revenue decreased by 11.58% to CNY 3,333,360,014.12 year-on-year[4] - Net profit attributable to shareholders decreased by 96.78% to CNY 11,904,095.00 compared to the same period last year[4] - Basic earnings per share decreased by 97.04% to CNY 0.004 from CNY 0.135 in the same period last year[4] - The weighted average return on equity decreased by 2.81 percentage points to 0.09%[4] - The company reported a significant decrease in net profit excluding non-recurring items, down 119.99% to -CNY 43,718,079.89[4] - Total revenue for Q1 2020 was ¥3,333,360,014.12, a decrease of 11.6% compared to ¥3,770,025,028.78 in Q1 2019[20] - The total profit for Q1 2020 was CNY 11,992,790.31, down from CNY 457,520,974.83 in Q1 2019, indicating a decrease of approximately 97.4%[22] - The company's operating revenue for Q1 2020 was CNY 967,855,524.43, a decrease of approximately 17.9% compared to CNY 1,179,305,117.66 in Q1 2019[25] Cash Flow - Net cash flow from operating activities decreased by 114.96% to -CNY 82,128,033.09 compared to the previous year[4] - Cash received from operating activities decreased by 65.52% to $75,953,329.76 from $220,302,112.09, primarily due to a reduction in government subsidies received[11] - Cash inflow from operating activities totaled ¥3,611,308,735.27, a decrease of 15.5% compared to ¥4,274,729,665.58 in the previous year[28] - Net cash outflow from operating activities was ¥82,128,033.09, contrasting with a net inflow of ¥549,093,135.53 in the same quarter last year[28] - Total cash inflow from operating activities was ¥1,405,152,484.81, down from ¥1,529,028,841.89 in the previous year[30] - The net cash flow from operating activities was ¥130,178,293.64, a decrease from ¥223,820,617.43 in the same quarter last year[30] Assets and Liabilities - Total assets increased by 5.90% to CNY 16,293,347,379.52 compared to the end of the previous year[4] - Accounts receivable increased by 68.87% to $651,995,267.22 from $386,088,550.40 due to an increase in settlement methods[10] - Prepayments surged by 218.69% to $446,714,353.91 from $140,172,027.31, attributed to an increase in prepayment settlement methods[10] - Short-term borrowings rose significantly by 735.42% to $526,304,680.57 from $62,999,063.63, indicating an increase in borrowings during the period[10] - Total liabilities increased to ¥3,364,340,087.74 in Q1 2020, compared to ¥1,730,641,658.25 in Q1 2019, representing a growth of 94.5%[19] - Total liabilities were CNY 2,168,506,621.55, with current liabilities at CNY 1,836,395,035.50[35] Shareholder Information - The total number of shareholders at the end of the reporting period was 81,032[7] - The largest shareholder, Juhua Group Co., Ltd., holds 38.65% of the shares[8] - The total equity attributable to shareholders was CNY 12,891,893,270.99[35] Research and Development - Research and development expenses decreased by 62.13% to $50,511,366.07 from $133,381,322.32, reflecting reduced investment in R&D[10] - Research and development expenses in Q1 2020 amounted to ¥50,511,366.07, down from ¥133,381,322.32 in Q1 2019, indicating a significant reduction of 62.2%[20] - Research and development expenses for Q1 2020 were CNY 8,165,586.55, down from CNY 14,179,030.60 in Q1 2019, indicating a reduction of approximately 42.3%[25] Future Outlook - The company anticipates a significant decline in cumulative net profit compared to the previous year due to weakened market demand and intensified competition caused by the COVID-19 pandemic[11] - The company plans to focus on market expansion and new product development to drive future growth[20]

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 - Net profit attributable to shareholders was ¥890,771,275.18, representing a decrease of 46.32% year-on-year[5]. - Operating revenue for the first nine months was ¥11,310,943,027.81, down 5.80% from the same period last year[5]. - Basic earnings per share decreased by 46.45% to ¥0.324[6]. - The weighted average return on net assets fell by 7.24 percentage points to 6.96%[6]. - The company reported a net profit excluding non-recurring gains and losses of ¥676,480,712.33, down 54.74% year-on-year[6]. - Total operating revenue for Q3 2019 was CNY 3,731,236,319.41, a decrease of 4.3% compared to CNY 3,899,832,313.91 in Q3 2018[22]. - Net profit for Q3 2019 was CNY 188,858,706.23, down from CNY 601,401,008.36 in Q3 2018, representing a decline of 68.7%[23]. - The total profit for Q3 2019 was CNY 217,047,532.87, down from CNY 736,249,671.76 in Q3 2018, a decrease of 70.5%[23]. - The company's total comprehensive income for Q3 2019 was ¥-2,584,109.37, compared to ¥129,301,628.25 in the same period last year[28]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥15,761,620,952.34, an increase of 3.24% compared to the end of the previous year[5]. - Total non-current assets reached ¥8,300,588,643.77, an increase of 8.01% from ¥7,685,225,261.41[17]. - Total liabilities increased to ¥2,458,343,024.21 from ¥2,381,747,798.42, marking a rise of 3.22%[18]. - The company's equity attributable to shareholders rose to ¥12,985,444,066.76, up from ¥12,585,018,800.78, indicating an increase of 3.18%[18]. - Total current liabilities include accounts payable of approximately $202.29 million and other payables of approximately $939.20 million[40]. Cash Flow - Net cash flow from operating activities was ¥1,261,203,270.05, a decline of 44.91% compared to the previous year[5]. - Cash received from operating activities rose by 162.63% to ¥245,684,138.13, reflecting the receipt of burning subsidies[13]. - The net cash flow from operating activities for the first three quarters of 2019 was CNY 1,261,203,270.05, down 44.1% from CNY 2,289,402,460.18 in 2018[30]. - The cash inflow from financing activities totaled CNY 113,681,728.95 in 2019, down from CNY 382,212,398.71 in 2018[31]. - The net cash flow from financing activities was -753,206,651.57 in 2019, compared to -405,596,485.80 in 2018, indicating increased cash outflows[31]. Shareholder Information - The total number of shareholders at the end of the reporting period was 78,547[9]. - The largest shareholder, Juhua Group Co., Ltd., held 1,060,943,317 shares, accounting for 38.65% of the total shares[9]. Government Subsidies and Other Income - The company received government subsidies related to normal operations amounting to ¥202,915,531.53 during the reporting period[7]. - The company reported a 1068.36% increase in other income to ¥185,828,117.80, primarily from increased government subsidies[12]. - Deferred income increased by 38.48% to ¥263,882,772.48 due to government grants received[12]. Investment and Capital Expenditure - Cash paid for the purchase of fixed assets increased by 92.31% to ¥946,563,996.41, indicating higher capital investment[13]. - The company has a long-term investment in equity amounting to RMB 1,069,221,321.21[35]. - The company holds long-term equity investments valued at approximately $5.49 billion[39]. Research and Development - Research and development expenses for Q3 2019 were CNY 92,861,992.18, significantly higher than CNY 29,379,091.87 in Q3 2018, an increase of 215.5%[22]. - Research and development expenses for Q3 2019 were ¥22,698,145.69, compared to a negative expense of ¥40,357,925.44 in Q3 2018, reflecting increased investment in R&D[26].

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].