2021 年年度报告 公司代码：600212 公司简称：江泉实业 山东江泉实业股份有限公司 2021 年年度报告 1 / 179 2021 年年度报告 重要提示 三、 和信会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人赵彤宇、主管会计工作负责人毛丽艳及会计机构负责人（会计主管人员）李遵明 声明：保证年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 经和信会计师事务所（特殊普通合伙）审计确认，公司2021年度实现归属母公司净利润为- 2,007.50万元，上年未分配利润-82,895.27万元，本次可供股东分配的利润为-84,902.77万元。 鉴于公司累计利润亏损，公司2021年利润分配预案为：不进行利润分配，不进行资本公积金转增 股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数 ...

Group 1: Event Details - The company will participate in the "2021 Annual Investor Online Reception Day" organized by the Shandong Securities Regulatory Bureau and the Shandong Listed Companies Association [2] - The event will be held online on November 16, 2021, from 14:00 to 16:00 [2] - Investors can join the event through the "Panorama Roadshow" platform [2] Group 2: Company Representatives - Company Secretary Zhang Qian and Securities Affairs Representative Chen Juan will participate in the online communication with investors [2] - The company encourages active participation from investors [2] Group 3: Accountability and Assurance - The board of directors guarantees that the announcement contains no false records, misleading statements, or significant omissions [2] - The board takes individual and joint responsibility for the truthfulness, accuracy, and completeness of the content [2]

证券代码： 600212 证券简称：江泉实业 山东江泉实业股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 2021 年第三季度报告 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是√否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 57,129,227.27 | -4.94 | 177,212,71 ...

2021 年半年度报告 公司代码：600212 公司简称：江泉实业 山东江泉实业股份有限公司 2021 年半年度报告 1 / 140 2021 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人赵彤宇、主管会计工作负责人毛丽艳及会计机构负责人（会计主管人员）李遵明 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司经营可能存在的主要风险，敬请查看第三节管理层讨论 ...

Financial Performance - Operating revenue decreased by 27.62% to CNY 61,724,683.12 year-on-year[5] - Net profit attributable to shareholders decreased by 70.13% to CNY 2,077,344.45 compared to the same period last year[5] - Basic earnings per share decreased by 69.85% to CNY 0.0041[5] - The weighted average return on equity decreased by 2.13 percentage points to 0.82%[5] - Operating revenue decreased by 27.62% from the previous period, mainly due to a decline in railway transport volume and electricity sales[19] - Net profit decreased by 70.13% compared to the previous period, primarily due to a decrease in thermal power revenue and increased provisions for electricity funds[21] - Total operating revenue for Q1 2021 was ¥61,724,683.12, a decrease of 27.7% compared to ¥85,280,876.15 in Q1 2020[37] - Net profit for Q1 2021 was ¥2,077,344.45, a decline of 70.1% from ¥6,955,088.47 in Q1 2020[38] - Total profit for Q1 2021 was ¥2,077,344.45, a decrease of 70.1% compared to ¥6,955,088.47 in Q1 2020[38] - Other income for Q1 2021 was ¥16,700.06, down from ¥81,067.27 in Q1 2020[38] - The total comprehensive income for Q1 2021 was ¥2,077,344.45, a decrease of 70.1% from ¥6,955,088.47 in Q1 2020[39] Cash Flow - The company reported a net cash flow from operating activities of CNY -8,988,661.70, which is not comparable to the previous year[5] - Net cash flow from operating activities was -8,988,661.70 RMB, compared to -6,515,824.57 RMB in the previous year, indicating a decline in operational cash flow[43] - Total cash inflow from operating activities amounted to 39,898,785.10 RMB, while cash outflow was 48,887,446.80 RMB, resulting in a net cash outflow of 8,988,661.70 RMB[43] - Cash inflow from investment activities was 18,135,369.86 RMB, with cash outflow of 5,122,046.94 RMB, leading to a net cash inflow of 13,013,322.92 RMB[44] - The company recorded a net cash flow from financing activities of 2,500,000.00 RMB, indicating a reliance on external financing[46] - Total cash outflow for operating activities was 48,302,851.04 RMB, compared to 42,438,519.16 RMB in the previous year, reflecting increased operational costs[46] Assets and Liabilities - Total assets increased by 0.46% to CNY 299,698,110.06 compared to the end of the previous year[5] - Total assets increased to CNY 299,698,110.06, up from CNY 298,314,557.02, reflecting a growth of 0.47%[29] - Current liabilities decreased to CNY 36,004,122.42 from CNY 42,501,732.90, a reduction of 15.4%[29] - Non-current liabilities rose to CNY 9,093,928.89, compared to CNY 3,367,435.38, an increase of 170.5%[30] - Total liabilities amounted to CNY 45,098,051.31, slightly down from CNY 45,869,168.28, a decrease of 1.68%[30] - Owner's equity increased to CNY 254,600,058.75 from CNY 252,445,388.74, a growth of 0.85%[30] - Total liabilities decreased by 4,012,320.59 RMB, totaling 45,869,168.28 RMB[51] - Non-current liabilities increased by 2,443,290.83 RMB, amounting to 3,367,435.38 RMB[51] - Current liabilities totaled 42,501,732.90 RMB, a decrease from 44,070,762.66 RMB[50] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,296[11] - The largest shareholder, Shenzhen Jinghong Yicheng Industrial Development Co., Ltd., holds 13.73% of the shares[11] Government Subsidies and Gains - The company received government subsidies amounting to CNY 8,595.25 related to normal business operations[8] - The total non-recurring gains and losses amounted to CNY 25,295.31[9] - Deferred income increased by 76.77% year-over-year, mainly due to new government subsidies related to assets received during the period[17] Other Financial Metrics - Trading financial assets decreased by 54.49% from the previous year, primarily due to the redemption of bank wealth management products[14] - Accounts receivable increased by 33.78% compared to the previous year, mainly due to increased receivables from Linyi Jiangquan Heating Co., Ltd.[14] - Prepayments rose by 74.29% year-over-year, attributed to increased prepayments for national railway freight[15] - Construction in progress increased by 125.07% compared to the previous year, driven by the construction of coal sheds at the railway branch company[15] - Cash and cash equivalents decreased to CNY 38,299,331.08 from CNY 48,949,566.13, a decline of 21.7%[32] - The company reported a credit impairment loss of ¥-400,941.78 in Q1 2021, compared to ¥-1,214,932.41 in Q1 2020[37] - The company paid 12,308,032.44 RMB in employee compensation, an increase from 9,977,985.87 RMB in the previous year[45]

[Company Profile and Key Financial Indicators](index=4&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Basic Information](index=4&type=section&id=Company%20Information) This section provides basic corporate information, contact details, stock profile, and disclosure channels for Shandong Jiangquan Industrial Co, Ltd (*ST Jiangquan) | Item | Information | | :--- | :--- | | **Company Name (Chinese)** | 山东江泉实业股份有限公司 | | **Company Ticker** | *ST Jiangquan | | **Stock Exchange** | Shanghai Stock Exchange | | **Stock Code** | 600212 | | **Legal Representative** | Zhao Tongyu | [Key Accounting Data and Financial Indicators for the Last Three Years](index=5&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Last%20Three%20Years) The company achieved a turnaround to profitability in 2020 with a net profit of RMB 19.54 million, a significant improvement from the substantial loss in 2019 | Key Accounting Data (RMB) | 2020 | 2019 | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 276,801,552.07 | 261,171,078.43 | 5.98% | | **Net Profit Attributable to Shareholders** | 19,540,812.88 | -351,609,433.29 | N/A | | **Net Profit Attributable to Shareholders (Non-recurring items deducted)** | 18,203,606.75 | -355,193,048.40 | N/A | | **Net Cash Flow from Operating Activities** | 20,396,201.34 | -1,815,122.68 | N/A | | **Total Assets (Year-end)** | 298,314,557.02 | 269,878,547.40 | 10.54% | | **Net Assets Attributable to Shareholders (Year-end)** | 252,445,388.74 | 232,360,667.10 | 8.64% | | Key Financial Indicators | 2020 | 2019 | Change | | :--- | :--- | :--- | :--- | | **Basic Earnings Per Share (RMB/Share)** | 0.0382 | -0.6871 | N/A | | **Weighted Average Return on Equity (%)** | 8.07% | -86.24% | Increased by 94.31 percentage points | - The company's turnaround was driven by two main factors: the elimination of significant investment losses from an affiliate's production halt in the prior year, and improved performance in both the thermal power and railway transport businesses[22](index=22&type=chunk) - In 2020, the company's total non-recurring gains and losses amounted to **RMB 1.34 million**, primarily from the disposal of non-current assets (RMB 1.05 million) and income from wealth management products (RMB 0.51 million)[26](index=26&type=chunk)[27](index=27&type=chunk) [Business Overview](index=8&type=section&id=Business%20Overview) [Main Business, Operating Model, and Industry Situation](index=8&type=section&id=Main%20Business%2C%20Operating%20Model%2C%20and%20Industry%20Situation%20Description) The company's main operations are divided into power generation and dedicated railway line transportation, with both segments showing improved profitability during the reporting period - The company's main business comprises two segments[29](index=29&type=chunk): - **Power Generation**: Utilizes industrial off-gas from upstream steel and coking enterprises for comprehensive power generation, with improved profits due to cost reductions - **Dedicated Railway Line Transportation**: Operates a 13-kilometer railway line and freight yard, with both revenue and profit increasing significantly due to higher freight rates and volumes [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) [Review of Operations and Key Initiatives](index=9&type=section&id=I.%20Management%20Discussion%20and%20Analysis) In 2020, the company achieved revenue of RMB 277 million and net profit of RMB 19.54 million while focusing on asset optimization, boosting market confidence, and exploring business transformation - During the reporting period, the company actively disposed of loss-making assets by shutting down operations of two subsidiaries and transferring all equity in its Shenzhen subsidiary to optimize its business structure[32](index=32&type=chunk) - The company's directors, senior management, and controlling shareholder implemented a share purchase plan, demonstrating confidence in the company's future development[33](index=33&type=chunk)[34](index=34&type=chunk) - To cultivate new profit growth, the company initiated a non-public offering plan to raise funds for the acquisition of 100% equity in Beijing Core Fire Technology Co, Ltd, exploring a business transformation[34](index=34&type=chunk) [Analysis of Key Operations](index=10&type=section&id=II.%20Key%20Operations%20During%20the%20Reporting%20Period) In 2020, revenue grew by 5.98% to RMB 277 million, while operating costs decreased by 8.16%, resulting in a net profit of RMB 19.54 million and an optimized balance sheet [Analysis of Income Statement and Cash Flow Statement Items](index=10&type=section&id=Analysis%20of%20Changes%20in%20Income%20Statement%20and%20Cash%20Flow%20Statement%20Items) The company's financial performance improved significantly, driven by a substantial increase in investment income and a sharp reduction in impairment losses, leading to positive operating cash flow | Account | Current Period (RMB) | Prior Period (RMB) | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 276,801,552.07 | 261,171,078.43 | 5.98 | Increase in railway operation revenue | | **Operating Cost** | 226,008,556.85 | 246,081,949.97 | -8.16 | Decrease in operating cost of thermal power | | **Investment Income** | 1,316,552.90 | -153,966,277.12 | N/A | No investment loss from associates in the current period | | **Credit Impairment Loss** | -1,741,674.57 | -22,482,419.88 | N/A | Decrease in bad debt provisions | | **Asset Impairment Loss** | 0 | -167,091,158.42 | N/A | No impairment provision for associates in the current period | | **Net Cash Flow from Operating Activities** | 20,396,201.34 | -1,815,122.68 | N/A | Increase in cash received from sales of goods and services | [Revenue and Cost Analysis](index=11&type=section&id=Revenue%20and%20Cost%20Analysis) The railway transport business showed strong growth in both revenue and gross margin, while the power segment's profitability improved due to significant cost reductions | By Industry | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin (%) | Revenue Y-o-Y | Cost Y-o-Y | Gross Margin Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Power Industry** | 204,187,149.27 | 172,607,401.99 | 15.47 | -1.03% | -14.00% | Increase 12.75 p.p. | | **Railway Transport** | 72,180,742.57 | 52,954,142.10 | 26.64 | 35.00% | 17.81% | Increase 10.71 p.p. | | **Agricultural Products Trade** | 433,660.23 | 447,012.76 | -3.08 | -7.08% | 36.88% | Decrease 33.10 p.p. | - The cost reduction in the power industry was mainly due to lower raw material prices, while the revenue growth in railway transport was driven by increased freight prices and volume[43](index=43&type=chunk) - The company has a **high customer concentration**, with sales to the top five customers accounting for **94.84%** of total annual sales[49](index=49&type=chunk) [Analysis of Assets and Liabilities](index=14&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) As of year-end 2020, total assets grew by 10.54% to RMB 298 million, with notable changes in financial assets, accounts receivable, and intangible assets | Item | Year-End Balance (RMB) | Beginning Balance (RMB) | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | **Trading Financial Assets** | 33,035,075.00 | 15,093,575.34 | 118.87 | Increase in bank wealth management products purchased by a subsidiary | | **Accounts Receivable** | 25,645,073.77 | 4,880,184.81 | 425.49 | Increase in receivables from sales | | **Construction in Progress** | 4,095,412.83 | 27,338,067.76 | -85.02 | Completed projects transferred to fixed assets | | **Intangible Assets** | 24,892,057.76 | 43,760,325.20 | -43.12 | Disposal of land use rights | [Analysis of Power Industry Operational Information](index=15&type=section&id=Analysis%20of%20Industry%20Operational%20Information) The power generation business, with an installed capacity of 50 MW, saw increased electricity sales and a significant 14.03% reduction in sales cost in 2020 | Indicator | Unit | 2020 | 2019 | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Power Generation** | 10k kWh | 33,900.20 | 33,287.00 | 1.84 | | **Electricity Sales** | 10k kWh | 31,420.87 | 30,681.24 | 2.41 | | **Electricity Sales Revenue** | RMB | 159,096,776.59 | 154,534,477.27 | 2.95 | | **Electricity Sales Cost** | RMB | 129,224,100.68 | 150,317,489.38 | -14.03 | - The company's total installed capacity is **50 MW**[59](index=59&type=chunk) [Disposal of Major Assets and Equity](index=18&type=section&id=Disposal%20of%20Major%20Assets%20and%20Equity) In December 2020, the company sold its wholly-owned Shenzhen subsidiary for RMB 33.5 million to optimize its asset structure - In December 2020, the company transferred **100% equity** of its non-operational Shenzhen subsidiary to Linyi Rongxin Holdings Co, Ltd for **RMB 33.5 million**, and this subsidiary is no longer consolidated[62](index=62&type=chunk)[64](index=64&type=chunk) [Discussion and Analysis of Future Development](index=19&type=section&id=Company's%20Discussion%20and%20Analysis%20of%20Future%20Development) The company's future strategy focuses on business diversification and improving quality, while managing risks related to raw material supply and environmental regulations - **Development Strategy**: Actively promote business diversification and enhance the quality of the listed company by introducing high-quality assets to create new profit growth points while stabilizing existing operations[66](index=66&type=chunk)[67](index=67&type=chunk) - **2021 Business Plan**[68](index=68&type=chunk): - Stabilize and enhance the profitability of the thermal power and railway businesses - Continue the non-public offering to acquire Core Fire Technology to achieve business diversification - Strengthen risk management and improve the management system - **Potential Risks**[69](index=69&type=chunk): - **Raw Material Supply Risk**: Power production relies entirely on gas fuel from upstream steel and coking enterprises, whose production pace could affect supply - **Environmental Risk**: Increasingly strict national environmental policies may lead to higher environmental protection investments, pressuring operating costs [Significant Matters](index=21&type=section&id=Significant%20Matters) [Profit Distribution and Dividend Policy](index=21&type=section&id=Common%20Stock%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) Due to a negative distributable profit of -RMB 829 million in 2020, the company proposed no profit distribution or capitalization of capital reserves - The company decided against profit distribution and capitalization of capital reserves as the distributable profit to shareholders for 2020 was **-RMB 828.95 million**[5](index=5&type=chunk)[73](index=73&type=chunk) - The company has not distributed cash dividends or converted capital reserves for **three consecutive years** (2018-2020)[74](index=74&type=chunk) [Fulfillment of Commitments](index=22&type=section&id=Fulfillment%20of%20Commitments) The controlling shareholder, Jinghong Yicheng, has been duly fulfilling all commitments made regarding non-competition, related-party transactions, and maintaining company independence - Commitments made by the controlling shareholder, Jinghong Yicheng, regarding avoiding competition, regulating related-party transactions, and maintaining the company's independence have been strictly observed[76](index=76&type=chunk)[78](index=78&type=chunk) [Changes in Accounting Policies and Estimates](index=24&type=section&id=Changes%20in%20Accounting%20Policies%2C%20Accounting%20Estimates%2C%20or%20Correction%20of%20Material%20Accounting%20Errors) The company adopted the new revenue recognition standard starting January 1, 2020, which resulted in the reclassification of advance payments without impacting prior-year results - The company implemented the new revenue standard on January 1, 2020, and changed its accounting policies accordingly, with no retrospective adjustment to prior-year data[80](index=80&type=chunk) | Item | Dec 31, 2019 (RMB) | Jan 1, 2020 (RMB) | Adjustment (RMB) | | :--- | :--- | :--- | :--- | | **Advances from Customers** | 367,877.20 | 0 | -367,877.20 | | **Contract Liabilities** | 0 | 331,778.85 | 331,778.85 | | **Other Current Liabilities** | 0 | 36,098.35 | 36,098.35 | [Significant Contracts and Their Performance](index=32&type=section&id=Significant%20Contracts%20and%20Their%20Performance) During the period, the company engaged in structured deposit investments totaling RMB 119 million and executed a significant equity transfer agreement for RMB 33.5 million - The company invested a total of **RMB 119 million** of its own funds in structured deposits, with an outstanding balance of **RMB 33 million** at year-end and no overdue amounts[100](index=100&type=chunk) - The company signed and executed a major contract to transfer 100% equity of its Shenzhen subsidiary to Linyi Rongxin Holdings Co, Ltd for **RMB 33.5 million**[103](index=103&type=chunk) [Social Responsibility and Environmental Information](index=35&type=section&id=Proactive%20Fulfillment%20of%20Social%20Responsibilities) As a key polluting entity, the company ensures compliance with emission standards and has invested RMB 50.7 million in a new project to significantly reduce dust pollution - The company's thermal power plant is a key polluting unit in Linyi City, with major pollutants being sulfur dioxide, nitrogen oxides, and particulate matter, all of which met emission standards during the period[106](index=106&type=chunk) - To enhance environmental protection, the company invested **RMB 50.7 million** to construct two large-span enclosed sheds to control dust pollution at its railway freight yard, which is expected to reduce annual dust emissions by **2,100 tons** upon completion[112](index=112&type=chunk)[113](index=113&type=chunk) [Share Capital Changes and Shareholders](index=38&type=section&id=Common%20Stock%20Share%20Capital%20Changes%20and%20Shareholders) [Shareholders and Actual Controller](index=38&type=section&id=Shareholders%20and%20Actual%20Controller%20Situation) As of year-end 2020, the company's controlling shareholder was Shenzhen Jinghong Yicheng Industrial Development Co, Ltd, with the total share capital remaining unchanged - During the reporting period, the company's total number of common shares and share capital structure remained unchanged[117](index=117&type=chunk) | Shareholder Name | Year-End Shareholding (Shares) | Percentage (%) | | :--- | :--- | :--- | | **Shenzhen Jinghong Yicheng Industrial Development Co, Ltd** | 70,280,485 | 13.73 | - The company's controlling shareholder is Shenzhen Jinghong Yicheng Industrial Development Co, Ltd, and the actual controller is Mr. Xu Yiming[119](index=119&type=chunk)[122](index=122&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=43&type=section&id=Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) [Changes in Shareholdings and Remuneration of Directors, Supervisors, and Senior Management](index=43&type=section&id=Changes%20in%20Shareholdings%20and%20Remuneration) Key management personnel increased their shareholdings during the year, with the Chairman receiving a total pre-tax remuneration of RMB 0.655 million - During the reporting period, key management including Chairman Zhao Tongyu and CEO Zhai Baoxing increased their holdings by a total of **601,800 shares**, representing 0.1176% of the total share capital[128](index=128&type=chunk)[130](index=130&type=chunk) | Name | Position | Total Pre-tax Remuneration from the Company (RMB 10,000) | | :--- | :--- | :--- | | **Zhao Tongyu** | Chairman | 65.50 | | **Zhai Baoxing** | General Manager, Director | 61.19 | | **Zhang Qian** | Director, Board Secretary | 57.46 | | **Mao Liyan** | CFO | 51.65 | [Employee Information](index=47&type=section&id=Employee%20Information%20of%20Parent%20Company%20and%20Major%20Subsidiaries) As of the end of the reporting period, the company had 489 employees, with production personnel constituting the largest group | Professional Composition | Number of People | | :--- | :--- | | Production Personnel | 362 | | Technical Personnel | 57 | | Administrative Personnel | 42 | | Financial Personnel | 26 | | Sales Personnel | 2 | | **Total** | **489** | [Corporate Governance](index=48&type=section&id=Corporate%20Governance) [Corporate Governance Overview](index=48&type=section&id=Corporate%20Governance%20Related%20Information) The company maintains a sound corporate governance structure in compliance with regulations, ensuring operational independence and receiving an unqualified internal control audit report - The company has a well-established governance structure and maintains independence from its controlling shareholder in personnel, assets, finance, organization, and business[140](index=140&type=chunk) - The company disclosed its Internal Control Self-Assessment Report and received a **standard unqualified opinion** on its internal control audit report from Hexin Certified Public Accountants, confirming effective internal control over financial reporting in all material respects[146](index=146&type=chunk)[150](index=150&type=chunk)[157](index=157&type=chunk) [Financial Report](index=54&type=section&id=Financial%20Report) [Audit Report](index=54&type=section&id=Audit%20Report) Hexin Certified Public Accountants issued a standard unqualified audit opinion on the 2020 financial statements, identifying "bad debt provision" as a key audit matter - The audit firm, Hexin Certified Public Accountants (Special General Partnership), issued a **standard unqualified audit opinion**[4](index=4&type=chunk)[161](index=161&type=chunk)[162](index=162&type=chunk) - The key audit matter was **"bad debt provision"**, with the auditor focusing on the recoverability and impairment of receivables due to their significance and the management judgment involved[164](index=164&type=chunk)[166](index=166&type=chunk) [Notes to Consolidated Financial Statements](index=116&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail key financial items, including a significant provision for bad debts on related-party receivables and a year-end unappropriated loss of -RMB 829 million - At year-end, the gross amount of accounts receivable was RMB 271 million, with a **100% bad debt provision** made for receivables totaling **RMB 244 million** from four related parties due to their deteriorating financial condition[379](index=379&type=chunk)[381](index=381&type=chunk) - The company transferred its equity in Shandong Huayu Alloy Materials Co, Ltd to its Shenzhen subsidiary in August 2020 and subsequently sold the subsidiary in December, thus no longer holding this long-term equity investment at year-end[414](index=414&type=chunk) - The company received a government grant of **RMB 2.93 million** related to environmental treatment for dust suppression at its railway freight yard, which was recorded as deferred income[461](index=461&type=chunk)

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) [Report Authenticity and Audit Status](index=3&type=section&id=1.1-1.4) The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report, free from false information, and assumes corresponding legal liabilities; the report has been reviewed and approved by all directors but remains unaudited - The company's board of directors, supervisory board, and all senior executives guarantee the truthfulness, accuracy, and completeness of the report content[4](index=4&type=chunk) - This company's Q3 2020 report is unaudited[4](index=4&type=chunk) [Company Overview](index=3&type=section&id=Item%20II.%20Company%20Overview) [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) As of Q3 2020, total assets increased by **8.83%** year-over-year, with year-to-date operating revenue growing by **12.24%**, achieving a turnaround to a net profit attributable to parent company shareholders of **7.70 million CNY**, primarily due to growth in railway and thermal power businesses and the elimination of significant losses from an associate in the prior year Key Financial Indicators | Indicator | End of Current Period / Year-to-Date | End of Prior Year / Prior Year Same Period | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 293,708,393.63 | 269,878,547.40 | 8.83 | | Net Assets Attributable to Shareholders of Listed Company (CNY) | 240,410,191.20 | 232,360,667.10 | 3.46 | | Operating Revenue (CNY) | 211,732,477.85 | 188,644,669.75 | 12.24 | | Net Profit Attributable to Shareholders of Listed Company (CNY) | 7,701,559.08 | -228,786,825.56 | Not Applicable | | Net Cash Flow from Operating Activities (CNY) | -4,320,984.88 | -10,524,290.24 | Not Applicable | - The company's net profit turnaround is primarily due to increased revenue and profit in both railway and thermal power business segments during the reporting period, and the elimination of significant investment losses from an associate's production halt in the prior year, which was fully impaired last year[6](index=6&type=chunk) - From year-beginning to the end of the reporting period (Jan-Sep), total non-recurring gains and losses amounted to **0.52 million CNY**, primarily from other non-operating income/expenses and government subsidies[8](index=8&type=chunk)[10](index=10&type=chunk) [Shareholder Ownership](index=6&type=section&id=2.2%20Total%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20at%20Report%20Period%20End) As of the reporting period end, the company had **26,106** shareholders, with Shenzhen Jinghong Yicheng Industrial Development Co., Ltd. as the largest shareholder holding **13.44%**, having no affiliation or concerted action with other top ten shareholders - As of the reporting period end, the company had a total of **26,106** shareholders[12](index=12&type=chunk) Top Ten Shareholders | Shareholder Name | Number of Shares Held | Shareholding (%) | | :--- | :--- | :--- | | Shenzhen Jinghong Yicheng Industrial Development Co., Ltd. | 68,780,524 | 13.44 | | Zhu Yuwen | 8,886,500 | 1.74 | | Dazi County Xinxin Investment Co., Ltd. | 7,530,000 | 1.47 | - The company states that the largest shareholder, Shenzhen Jinghong Yicheng Industrial Development Co., Ltd., has no affiliated or concerted action relationship with other shareholders[13](index=13&type=chunk) [Preferred Shareholder Information](index=7&type=section&id=2.3%20Total%20Preferred%20Shareholders%2C%20Top%20Ten%20Preferred%20Shareholders%2C%20and%20Top%20Ten%20Unrestricted%20Preferred%20Shareholders%20at%20Report%20Period%20End) At the end of the reporting period, the company had no preferred shareholders - The company has no preferred share-related information[13](index=13&type=chunk) [Significant Events](index=7&type=section&id=Item%20III.%20Significant%20Events) [Analysis of Significant Changes in Key Financial Statements and Indicators](index=7&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20Company's%20Key%20Financial%20Statement%20Items%20and%20Financial%20Indicators) During the reporting period, several financial statement items showed significant changes, with accounts receivable, prepayments, and construction in progress substantially increasing on the asset side due to business expansion and environmental project investments; investment income turned from a significant loss to profit due to the elimination of prior period associate losses; and non-operating income surged primarily from government-exempted social security fees Balance Sheet Item Changes | Balance Sheet Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Accounts Receivable | 715.32 | Increase in receivables from electricity sales and transportation | | Prepayments | 110.44 | Increase in prepaid national railway freight | | Construction in Progress | 51.38 | Increased investment in railway freight yard dust suppression environmental projects | | Intangible Assets | -42.25 | Transfer of land use rights | Income and Cash Flow Statement Item Changes | Income and Cash Flow Statement Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Investment Income | Not Applicable | Significant loss from associate in prior period, no such impact this period | | Asset Impairment Losses | -100.00 | Impairment provision for long-term investment in associate in prior period | | Non-Operating Income | 377.68 | Increased government-exempted social security fees this period | [Progress of Significant Matters](index=8&type=section&id=3.2%20Analysis%20of%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Matters) The company's largest shareholder, Jinghong Yicheng, and its concerted parties have continuously increased their shareholding since July 7, 2020, planning further increases within the next 12 months, having cumulatively increased by **0.97%** of total share capital as of the reporting date - Jinghong Yicheng and its concerted parties plan to increase their shareholding by no less than **10 million shares** within 12 months[17](index=17&type=chunk) - As of the reporting date, Jinghong Yicheng and its concerted parties have cumulatively increased their shareholding by **4.95 million shares** through centralized bidding transactions, representing **0.97%** of the total share capital[17](index=17&type=chunk) [Overdue Unfulfilled Commitments](index=8&type=section&id=3.3%20Overdue%20Unfulfilled%20Commitments%20During%20the%20Reporting%20Period) During the reporting period, the company had no overdue unfulfilled commitments - The company has no overdue unfulfilled commitments[19](index=19&type=chunk) [Performance Forecast Warning](index=9&type=section&id=3.4%20Warning%20and%20Explanation%20Regarding%20Potential%20Loss%20or%20Significant%20Change%20in%20Cumulative%20Net%20Profit%20from%20Year-Beginning%20to%20End%20of%20Next%20Reporting%20Period) The company has not issued any forecast or warning regarding cumulative net profit from year-beginning to the end of the next reporting period - The company has not issued any relevant performance forecasts or significant change warnings[20](index=20&type=chunk) [Appendix](index=10&type=section&id=Item%20IV.%20Appendix) [Financial Statements](index=10&type=section&id=4.1%20Financial%20Statements) This section includes the company's consolidated and parent company balance sheets, income statements, and cash flow statements as of September 30, 2020; all statements are unaudited [Consolidated Balance Sheet](index=10&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2020, the company's total assets were **294 million CNY**, an **8.83%** increase from year-beginning; total liabilities were **53.3 million CNY**, up **42.06%**; and total equity attributable to the parent company was **240 million CNY**, a **3.46%** increase | Item | September 30, 2020 (CNY) | December 31, 2019 (CNY) | | :--- | :--- | :--- | | Total Assets | 293,708,393.63 | 269,878,547.40 | | Total Liabilities | 53,298,202.43 | 37,517,880.30 | | Total Equity Attributable to Parent Company Owners | 240,410,191.20 | 232,360,667.10 | [Parent Company Balance Sheet](index=12&type=section&id=Parent%20Company%20Balance%20Sheet) As of September 30, 2020, the parent company's total assets increased to **355 million CNY** from **325 million CNY** at year-beginning; total liabilities were **88.36 million CNY**, and total owner's equity was **267 million CNY** | Item | September 30, 2020 (CNY) | December 31, 2019 (CNY) | | :--- | :--- | :--- | | Total Assets | 355,464,062.37 | 324,761,123.04 | | Total Liabilities | 88,359,845.95 | 66,268,900.37 | | Total Owner's Equity | 267,104,216.42 | 258,492,222.67 | [Consolidated Income Statement](index=14&type=section&id=Consolidated%20Income%20Statement) In the first three quarters of 2020, the company achieved total operating revenue of **212 million CNY**, a **12.24%** year-over-year increase, and successfully turned around to a net profit attributable to parent company shareholders of **7.70 million CNY**, compared to **-229 million CNY** in the prior year, with basic earnings per share of **0.0151 CNY** | Item | First Three Quarters of 2020 (CNY) | First Three Quarters of 2019 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 211,732,477.85 | 188,644,669.75 | | Operating Profit | 7,194,647.66 | -228,836,793.96 | | Net Profit Attributable to Parent Company Shareholders | 7,701,559.08 | -228,786,825.56 | | Basic Earnings Per Share (CNY/Share) | 0.0151 | -0.4471 | [Parent Company Income Statement](index=17&type=section&id=Parent%20Company%20Income%20Statement) In the first three quarters of 2020, the parent company achieved operating revenue of **211 million CNY** and a net profit of **8.26 million CNY**, a significant improvement compared to **-227 million CNY** in the prior year | Item | First Three Quarters of 2020 (CNY) | First Three Quarters of 2019 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 211,298,817.62 | 188,177,966.16 | | Net Profit | 8,264,028.73 | -226,606,026.45 | [Consolidated Cash Flow Statement](index=20&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first three quarters of 2020, the company's net cash flow from operating activities was **-4.32 million CNY**, and from investing activities was **-8.94 million CNY**; cash and cash equivalents at period-end totaled **43.80 million CNY**, a **13.26 million CNY** decrease from the beginning of the period | Item | First Three Quarters of 2020 (CNY) | First Three Quarters of 2019 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -4,320,984.88 | -10,524,290.24 | | Net Cash Flow from Investing Activities | -8,941,322.77 | -15,265,716.15 | | Net Cash Flow from Financing Activities | 0.00 | 0.00 | | Net Increase in Cash and Cash Equivalents | -13,262,307.65 | -25,790,006.39 | [Parent Company Cash Flow Statement](index=21&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) In the first three quarters of 2020, the parent company's net cash flow from operating activities was **-5.18 million CNY**, from investing activities was **-5.12 million CNY**, and from financing activities was **6.40 million CNY**; cash balance at period-end was **24.37 million CNY** | Item | First Three Quarters of 2020 (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -5,179,526.71 | | Net Cash Flow from Investing Activities | -5,121,608.82 | | Net Cash Flow from Financing Activities | 6,400,000.00 | | Net Increase in Cash and Cash Equivalents | -3,901,135.53 | [Explanation of New Accounting Standards Adjustments](index=22&type=section&id=4.2-4.3) The company did not adjust its financial statements for the first-time adoption of new revenue and lease standards effective from 2020 - The company did not adjust current period opening financial statements or retrospectively adjust prior period comparative data due to the adoption of new revenue or lease standards[42](index=42&type=chunk)[45](index=45&type=chunk) [Audit Report](index=23&type=section&id=4.4%20Audit%20Report) This quarterly report is unaudited - This quarterly financial report is unaudited[45](index=45&type=chunk)

证券代码：600212 证券简称：*ST 江泉 编号：临 2020－025 山东江泉实业股份有限公司 关于参加山东辖区上市公司 2020 年度投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步加强与投资者的互动交流工作，山东江泉实业股份有限公司（以下 简称"公司"）将参加由山东证监局、山东上市公司协会、深圳市全景网络有限 公司共同举办的"2020 年山东辖区上市公司投资者网上集体接待日"活动，现 将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络远程的方式举行，投资者可以登录"全景·路演天下"（http://rs.p5w.net）参 与本次投资者集体接待日活动，活动时间为 2020 年 9 月 29 日（星期二）15:00 至 16:55。 届时公司董事会秘书张谦先生、证券事务代表陈娟女士将参加本次活动并与 投资者进行在线交流。欢迎广大投资者积极参与。 特此公告。 山东江泉实业股份有限公司董事会 二〇二〇年九月二十五日 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥151,633,923.93, representing a 17.96% increase compared to ¥128,548,731.55 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was ¥6,644,899.83, a significant recovery from a loss of ¥143,932,827.26 in the previous year[19]. - The basic earnings per share for the first half of 2020 was ¥0.0130, recovering from a loss of ¥0.2813 in the same period last year[20]. - The total profit for the period was 6.64 million yuan, with a net profit also at 6.64 million yuan[29]. - The company reported a net loss of -841,848,600.10, with an unchanged retained earnings position compared to the previous year[37]. - The total comprehensive income for the first half of 2020 was CNY 7,079,288.39, a recovery from a total comprehensive loss of CNY 141,784,181.15 in the same period of 2019[89]. - The company's net loss for the first half of 2020 was ¥815,282,655.97, slightly improved from a loss of ¥822,361,944.36 in the same period of 2019[81]. Cash Flow - The net cash flow from operating activities was -¥2,824,811.31, worsening from -¥1,039,619.65 in the same period last year[19]. - The company reported a cash inflow from financing activities of CNY 4,500,000.00 in the first half of 2020, compared to CNY 2,000,000.00 in the same period of 2019[95]. - The cash inflow from operating activities for the first half of 2020 was CNY 89,821,177.87, an increase of 12.6% compared to CNY 79,727,454.02 in the first half of 2019[91]. - The cash outflow from operating activities totaled CNY 92,645,989.18, up from CNY 80,767,073.67 in the same period last year, resulting in a net cash flow from operating activities of -CNY 2,824,811.31[91]. - Investment activities generated a net cash inflow of CNY 14,701,175.40 in the first half of 2020, compared to a net outflow of -CNY 1,363,281.82 in the first half of 2019[92]. Assets and Liabilities - The total assets increased by 6.76% to ¥288,125,712.93 compared to ¥269,878,547.40 at the end of the previous year[19]. - Total liabilities increased to ¥82,273,922.92 from ¥66,268,900.37, indicating a rise of 24.16%[81]. - Cash and cash equivalents rose by 20.81% to 68,939,646.08, accounting for 23.93% of total assets[36]. - Accounts receivable surged by 681.08% to 38,118,317.23, representing 13.23% of total assets[36]. - The company’s total assets at the end of the current period were CNY 1,000,000,000.00, indicating a strong asset base[100]. Shareholder Information - The company has not proposed any profit distribution or capital reserve transfer to increase share capital for the reporting period[6]. - The company’s management and board members collectively increased their shareholding by 601,800 shares, representing approximately 0.1176% of the total share capital[30]. - The total number of ordinary shareholders at the end of the reporting period was 28,320[65]. - The largest shareholder, Shenzhen Jinghong Yicheng Industrial Development Co., Ltd., holds 12.83% of the shares, totaling 65,667,070 shares[66]. Environmental Compliance - The company operates a key pollutant discharge unit, ensuring emissions meet national and local environmental management requirements[54]. - The company invested over 300,000 yuan to install an online monitoring system for emissions, which is currently operational and connected to environmental authorities[56]. - The company has established an emergency response plan for environmental incidents, ensuring rapid control and mitigation of potential environmental accidents[58]. - The company has implemented a self-monitoring scheme in compliance with national regulations, with quarterly reporting and real-time data display for environmental monitoring[59]. - There were no instances of exceeding pollutant discharge limits reported[55]. Business Strategy - The company plans to continue expanding its market presence and enhancing operational efficiency in response to environmental policies[29]. - The company committed to maintaining an independent procurement, production, and sales system post-equity changes, ensuring operational independence[50]. - The company will avoid unnecessary related party transactions to protect shareholder interests[50]. - The company has no plans to invest in similar products that could compete with its main business[50]. Accounting Policies - The company's accounting policies and estimates are tailored to its actual production and operational characteristics[111]. - The company includes all controlled subsidiaries in its consolidated financial statements, ensuring a comprehensive view of its financial position[120]. - The accounting period for the company runs from January 1 to December 31 each year[113]. - The company has established specific accounting treatments for mergers under common control and non-common control[116][118]. Risk Management - The company faces risks related to raw material price fluctuations and environmental compliance costs[42]. - The company has not experienced any significant changes in accounting policies or estimates during the reporting period[61]. - There were no significant lawsuits or arbitration matters during the reporting period[48].

2020 年第一季度报告 公司代码：600212 公司简称：*ST 江泉 山东江泉实业股份有限公司 2020 年第一季度报告 1 / 20 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 9 | 2020 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | | | | 减(%) | | | 总 资 产 | 282,859,965.19 | 269,878,547.40 | | 4.81 | | 归属于上市公司 | 239,431,743.91 | 232,360,667.10 | | 3.04 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -6,515,824.57 | -3,731,915.26 | | ...