Financial Performance - The company's operating revenue for 2017 was ¥553,230,517.79, representing a 27.56% increase compared to ¥433,696,422.78 in 2016[22] - The net profit attributable to shareholders for 2017 was ¥26,130,656.33, a significant recovery from a net loss of ¥37,090,757.78 in 2016[22] - Basic earnings per share for 2017 was CNY 0.11, a significant improvement from a loss of CNY 0.15 in 2016[23] - The weighted average return on equity increased to 67.49% in 2017 from -88.80% in 2016[23] - The company reported a net profit of ¥26,130,656.33 for 2017, marking a turnaround from two consecutive years of negative net profits[7] - The company’s net profit attributable to shareholders after deducting non-recurring gains and losses was -¥38,928,237.02 for 2017[22] Cash Flow and Assets - The net cash flow from operating activities for 2017 was -¥5,820,480.71, a decline of 163.28% compared to a positive cash flow of ¥9,197,994.55 in 2016[22] - The total assets decreased by 30.65% to ¥317,397,415.59 at the end of 2017, down from ¥457,648,199.26 at the end of 2016[22] - Cash and cash equivalents increased by 122.33% to CNY 65,682,642.60 by the end of the reporting period[33] - The net cash flow from investment activities significantly increased, with inflows of ¥229,193,327.41, a 25,240.49% rise year-on-year, mainly from the disposal of fixed and intangible assets[64] - The company reported a net profit increase of ¥78,391,900 from the disposal of idle assets, including land use rights and buildings, for a total of ¥253,688,900[62] Production and Operations - The company continues to focus on the production and sales of acrylamide, which is a key raw material for various applications[30] - The production capacity for acrylamide crystals is currently 27,000 tons per year, with plans to increase to 60,000 tons based on market demand[38] - The company achieved operating revenue of RMB 553.23 million, an increase of 27.56% compared to the previous year[37] - The production of acrylamide decreased by 2.47% to 45,732.49 tons, while sales volume fell by 3.46% to 45,325.66 tons, primarily due to high procurement costs of raw materials[47] - The company completed the expansion of its Jiangsu Rudong base, increasing its overall capacity to 30,000 tons per year by the end of 2017[40] Research and Development - The company has 13 patents in the field of acrylamide, including 4 invention patents and 9 utility model patents, showcasing its R&D leadership[34] - R&D expenses increased by 17.90% to RMB 15.64 million, reflecting the company's commitment to innovation[42] - The company invested a total of ¥15,635,336.21 in four R&D projects during the reporting period, with expected production efficiency improvements of approximately 30% and cost reductions of up to 20%[59] Market and Industry Conditions - The domestic acrylamide industry is experiencing oversupply, but there is potential for growth in mid-to-high-end products[32] - The company plans to continue enhancing its marketing strategies to expand market share despite regional impacts from environmental regulations[34] - The company anticipates a positive development in acrylamide demand due to expanding applications in wastewater treatment and soil remediation[98] Governance and Compliance - The company has successfully eliminated the risk of delisting by reporting a positive net profit for the fiscal year 2017, thus applying to revoke the delisting risk warning[120] - The company plans to strengthen its governance and improve operational management to enhance financial quality and explore new profit growth points[121] - The company has not faced any penalties from securities regulatory agencies in the past three years[166] Environmental and Social Responsibility - The company emphasizes a commitment to social responsibility, focusing on environmental protection and employee welfare, while ensuring product quality and service[134] - The company plans to enhance environmental protection and safety production measures in response to stricter regulations, aiming to strengthen its core products and expand market share[103] - The company’s wastewater treatment process achieves compliance with the national discharge standards, with COD ≤ 500 mg/L and ammonia nitrogen ≤ 35 mg/L[137] Shareholder and Management Information - The total number of ordinary shareholders increased from 17,980 to 19,125 during the reporting period[143] - The largest shareholder, Jiangxi Changjiu Group Co., Ltd., holds 43,980,000 shares, representing 18.22% of total shares[145] - The management team underwent changes with Zhang Hao stepping down as General Manager on November 15, 2017, and was succeeded by new appointments[159] - The company has established a modern governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team[171] Financial Position - Total liabilities decreased from 353,913,401.48 to 197,701,521.95, a reduction of approximately 44%[200] - Total equity increased from 103,734,797.78 to 119,695,893.64, reflecting a growth of about 15%[200] - The company's retained earnings improved from -582,869,734.57 to -556,739,078.24, indicating a reduction in accumulated losses[200]

Financial Performance - Operating revenue for the period was ¥394,098,296.04, representing a growth of 30.32% compared to ¥302,419,508.47 in the same period last year[7] - Net profit attributable to shareholders of the listed company was a loss of ¥20,358,812.74, an improvement from a loss of ¥23,740,003.97 in the previous year[7] - Basic and diluted earnings per share were both -¥0.08, an improvement from -¥0.10 in the same period last year[7] - Total revenue for Q3 2017 reached ¥150,104,385.04, a 33.4% increase from ¥112,532,935.54 in Q3 2016[26] - Year-to-date revenue for 2017 was ¥394,098,296.04, up 30.4% from ¥302,419,508.47 in the same period of 2016[26] - Net loss for Q3 2017 was ¥7,236,986.45, compared to a net loss of ¥10,562,774.47 in Q3 2016[27] - The net profit attributable to the parent company for Q3 2017 was -6,191,756.43 CNY, compared to -8,022,012.91 CNY in Q3 2016, indicating a 22.8% improvement year-over-year[28] - The total comprehensive income attributable to the parent company for the first nine months of 2017 was -20,358,812.74 CNY, down from -23,740,003.97 CNY in the same period last year, reflecting a 14.5% reduction in losses[28] Assets and Liabilities - Total assets at the end of the reporting period reached ¥472,845,622.50, an increase of 3.32% compared to the previous year's end[7] - Total assets decreased to ¥183,373,200.83 from ¥205,050,664.04 at the beginning of the year[24] - Total liabilities increased to ¥250,798,293.90 from ¥244,756,778.99 at the beginning of the year[24] - The company's total equity was reported at -¥67,425,093.07, a decline from -¥39,706,114.95 at the start of the year[24] Cash Flow - The net cash flow from operating activities was negative at ¥9,298,909.38, a decline of 720.16% compared to a positive cash flow of ¥1,499,426.70 in the same period last year[7] - Cash inflow from operating activities for the first nine months of 2017 was 1,459,673.64 RMB, a decrease from 6,317,577.45 RMB in the previous year[36] - The cash inflow from operating activities totaled 410,626,380.20 CNY for the first nine months of 2017, compared to 345,049,601.20 CNY in the previous year, indicating a 19% increase in cash inflows[33] - The total cash inflow from operating activities for the first nine months included 1,376,470.25 RMB from other operating cash receipts, down from 5,825,034.45 RMB last year[36] - The net cash flow from financing activities was -2,235,661.99 RMB in Q3 2017, an improvement from -3,040,558.63 RMB year-over-year[35] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,587[10] - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., held 43,980,000 shares, accounting for 18.22% of the total shares[10] Operational Metrics - Operating costs increased by 34.24% to ¥366,127,966.48 from ¥272,746,140.12, due to higher raw material procurement costs[12] - Inventory rose by 65.47% to ¥46,505,339.42 from ¥28,104,342.78, indicating an increase in stock[12] - Accounts receivable increased by 48.50% to ¥52,660,381.24 from ¥35,462,455.53, attributed to increased bill settlements[12] - Prepayments surged by 45.10% to ¥23,291,921.04 from ¥16,052,823.07, reflecting increased procurement costs[12] Production and Expansion - The company is expanding its production capacity at the Jiangsu Rudong base, aiming for an annual output of 45,000 to 50,000 tons of acrylamide by the end of 2017[14] Financial Expenses - The company reported a significant increase in financial expenses, totaling 4,287,735.56 CNY for the first nine months of 2017, compared to 4,198,933.74 CNY in the same period last year[30]

Financial Performance - The company's operating revenue for the first half of 2017 was RMB 243,993,911, representing a 28.49% increase compared to RMB 189,886,572.93 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of RMB 14,167,056.31, slightly improved from a loss of RMB 15,717,991.06 in the previous year[18]. - The net cash flow from operating activities was a negative RMB 11,973,389.11, worsening from a negative RMB 3,917,208.48 in the same period last year[18]. - The total assets at the end of the reporting period were RMB 437,035,592.21, a decrease of 4.50% from RMB 457,648,199.26 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 53.13% to RMB 11,714,568.41 from RMB 24,994,819.03 at the end of the previous year[18]. - The basic earnings per share for the first half of 2017 was -0.06 yuan, compared to -0.07 yuan in the same period last year[19]. - The weighted average return on net assets was -77.18%, significantly lower than -31.01% in the previous year[19]. - The company reported a decrease in the weighted average return on net assets after deducting non-recurring gains and losses to -45.80% from -20.87% in the previous year[19]. - The company achieved operating revenue of 243.99 million yuan, an increase of 28.49% compared to the same period last year[27]. - The net profit attributable to the parent company was -14.17 million yuan, a decrease in loss of 1.55 million yuan year-on-year[27]. - The company reported a net profit of -14,167,100, with earnings per share at -0.06[37]. - The company reported a total profit (loss) for the current period was -¥16,922,304.66, an improvement from -¥19,719,900.52 in the previous period[77]. Cash Flow and Liquidity - The net cash flow from operating activities was -11,973,389.11 RMB, compared to -3,917,208.48 RMB in the previous period, indicating a decline in operational cash generation[84]. - The ending cash and cash equivalents balance decreased to 5,734,082.43 RMB from 34,074,816.94 RMB in the previous period, highlighting liquidity challenges[84]. - Cash inflows from operating activities totaled ¥238,967,085.25, an increase from ¥209,041,132.79 in the prior period[83]. - Total cash outflow from operating activities amounted to 250,940,474.36 RMB, up from 212,958,341.27 RMB in the prior period, reflecting increased operational expenses[84]. - The total cash outflow for employee payments was 15,408,882.45 RMB, slightly up from 15,073,489.20 RMB, indicating stable labor costs[84]. - The total cash paid for taxes was 3,472,908.84 RMB, down from 9,744,955.46 RMB, reflecting a decrease in tax liabilities[84]. Production and Sales - The production volume of acrylamide was 22,732.08 tons, a decrease of 6.42% compared to the previous year[28]. - The sales volume of acrylamide was 21,595.60 tons, a decrease of 5.11% year-on-year[28]. - The average selling price of products increased by 29.95% compared to the previous year due to market factors[30]. - The average procurement price of raw materials increased by 62.87% compared to the previous year, impacting operating costs[30]. - The company continues to face challenges due to the overall market supply exceeding demand for acrylamide products[29]. Assets and Liabilities - Cash and cash equivalents decreased by 80.59% to 5,734,082.43, accounting for 1.31% of total assets[33]. - Accounts receivable increased by 46.23% to 31,591,803.76, representing 7.23% of total assets[33]. - Other receivables rose by 180.99% to 2,639,575.54, making up 0.60% of total assets[33]. - Inventory increased by 36.94% to 38,485,815.16, which is 8.81% of total assets[33]. - Construction in progress surged by 242.56% to 1,303,058.92, representing 0.30% of total assets[33]. - Tax payable increased by 45.64% to 3,881,607.62, accounting for 0.89% of total assets[33]. - The company's debt-to-asset ratio stands at 79.76%, indicating high financial leverage[37]. - Total assets decreased from 457,648,199.26 to 437,035,592.21, a decline of approximately 4.5%[68]. - Current assets decreased from 145,085,281.81 to 137,824,529.87, a reduction of about 5.2%[68]. - Total liabilities decreased from 353,913,401.48 to 348,599,111.12, a decrease of approximately 1.4%[69]. - Owner's equity decreased from 103,734,797.78 to 88,436,481.09, a decline of about 14.7%[70]. - The company reported a negative retained earnings of -597,036,790.88, worsening from -582,869,734.57[70]. Corporate Developments - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - There are no significant risks or non-operating fund occupation issues reported by the controlling shareholder[6]. - The company completed the safety production administrative license extension for its Nanchang base, valid from June 12, 2017, to December 31, 2018[45]. - The capacity expansion at the Jiangsu Rudong base is progressing, with the acrylamide crystal production capacity expected to increase from 17,000 tons/year to 27,000 tons/year by the end of September 2017, and overall production capacity (including water agent and crystal) targeted to reach 45,000 to 50,000 tons/year by the end of 2017[45]. - The company has established performance assessment goals for 2017, focusing on profit, sales volume, gross margin, accounts receivable, and corporate development[103]. Shareholder Information - The company reported a total of 22,441 common shareholders as of the end of the reporting period[58]. - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holds 43,980,000 shares, accounting for 18.22% of total shares[60]. - The company has a total share capital of 28,800,000 shares after capital reserve conversion and stock distribution in 2001[97]. Acquisitions and Investments - The acquisition of 100% equity in Changjiu Group by Jiangxi Hangmei is valued at 143,229.22, pending government approval[39]. - Jiangxi Hangmei obtained the qualification to acquire 100% equity of Changjiu Group for a price of RMB 1,432.29 million, with the transfer approved by the Jiangxi Provincial Government on May 16, 2017[47]. - Jiangxi Hangmei acquired 100% equity of Changjiu Group for RMB 1,432.29 million on April 7, 2017[104]. Accounting Policies - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial status accurately[105]. - The accounting period for the company is from January 1 to December 31 each year[106]. - The company's accounting currency is Renminbi[108]. - The company applies the equity method for accounting investments in subsidiaries under common control[109]. - The consolidated financial statements include all subsidiaries controlled by the company[115]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[113]. Impairment and Valuation - The company assesses impairment for available-for-sale financial assets if their fair value is below cost by more than 50% or persists below cost for over one year[138]. - The company recognizes impairment losses on long-term equity investments when the carrying amount exceeds the share of the investee's identifiable net assets[155]. - The company assesses the impairment of long-term assets at the balance sheet date, estimating recoverable amounts based on the higher of fair value less costs to sell and the present value of expected future cash flows[188]. Employee Compensation - The company recognizes compensation for employee services as liabilities and expenses in the period the services are provided[192].

Financial Performance - Operating revenue increased by 22.41% to CNY 115,438,291.16 compared to the same period last year[7] - Net profit attributable to shareholders was CNY -6,747,084.19, showing a slight improvement from CNY -6,973,635.95 in the previous year[7] - The weighted average return on net assets was -30.91%, compared to -12.67% in the previous year[7] - Operating profit for Q1 2017 was a loss of CNY 4,249,853.66, an improvement from a loss of CNY 5,610,310.59 in Q1 2016[24] - Net profit for Q1 2017 was a loss of CNY 7,682,564.74, compared to a loss of CNY 8,716,264.98 in the previous year[25] - The net profit attributable to shareholders of the parent company for Q1 2017 was a loss of CNY 6,747,084.19, slightly better than a loss of CNY 6,973,635.95 in Q1 2016[25] Assets and Liabilities - Total assets increased by 2.72% to CNY 470,086,012.27 compared to the end of the previous year[7] - Total liabilities increased to CNY 373,264,710.63 from CNY 353,913,401.48, indicating a rise in financial obligations[18] - Total assets at the end of the reporting period were CNY 201,820,293.86, down from CNY 205,050,664.04 at the beginning of the year[21] - Total liabilities increased to CNY 246,664,716.23 from CNY 244,756,778.99 at the beginning of the year[21] - The total equity attributable to shareholders of the parent company was negative CNY 44,844,422.37, compared to negative CNY 39,706,114.95 at the beginning of the year[21] Cash Flow - Net cash flow from operating activities decreased by 91.42% to CNY 1,164,427.48 compared to the same period last year[7] - Cash and cash equivalents increased by 33.85% to CNY 39,541,531.42 due to bank loans received[11] - The cash flow from operating activities generated a net cash inflow of ¥1,164,427.48, down 91.4% from ¥13,577,767.85 in the previous year[29] - The total cash and cash equivalents at the end of Q1 2017 amounted to ¥39,541,531.42, a decrease of 35.9% from ¥61,742,156.26 at the end of Q1 2016[30] - The net cash flow from financing activities was ¥9,178,426.34, showing a slight increase from ¥8,955,156.46 in Q1 2016[30] Shareholder Information - The number of shareholders at the end of the reporting period was 26,390[10] - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holds 18.22% of the shares[10] Inventory and Expenses - Inventory increased by 30.02% to CNY 36,540,430.94 as the company increased raw material stock to mitigate price risks[11] - Sales expenses decreased by 48.94% to ¥3,168,464.05 compared to the same period last year, primarily due to reduced transportation costs[12] - Management expenses decreased by 53.54% to ¥3,799,914.26, mainly due to a reduction in technology research and development expenses[12] - Other income decreased by 86.56% to ¥100,500.13, primarily due to a decrease in gains from debt restructuring compared to the previous year[12] Equity and Retained Earnings - The company reported a net loss of ¥589,616,818.76 in retained earnings, compared to a loss of ¥582,869,734.57 at the beginning of the year[18] - Basic and diluted earnings per share for Q1 2017 were both CNY -0.028, consistent with the previous year[25] Regulatory and Operational Updates - The company is in the process of transferring 100% equity of Jiangxi Changjiu Group Co., Ltd. for ¥143,229.22 million, pending approval from the State-owned Assets Supervision and Administration Commission[13] - Jiangxi Changjiu Agricultural Science and Technology Co., Ltd. has initiated the extension process for its safety production license, which is due to expire on June 11, 2017[14]

Financial Performance - The net profit attributable to shareholders for 2016 was -37,090,757.78 RMB, resulting in a total distributable profit of -582,869,734.57 RMB, leading to no profit distribution for the year [2]. - Operating revenue for 2016 decreased by 20.04% to 433,696,422.78 RMB compared to 542,376,142.13 RMB in 2015 [18]. - The net cash flow from operating activities was 9,197,994.55 RMB, a significant decline of 90.41% from 95,940,276.07 RMB in the previous year [18]. - The total assets as of the end of 2016 were 457,648,199.26 RMB, down 10.78% from 512,960,994.77 RMB at the end of 2015 [18]. - The net assets attributable to shareholders decreased by 57.31% to 24,994,819.03 RMB from 58,544,761.16 RMB in 2015 [18]. - Basic earnings per share for 2016 were -0.15 RMB, compared to -0.10 RMB in 2015 [19]. - The weighted average return on net assets was -88.80% for 2016, a decline from -35.27% in 2015 [19]. - The company reported a net profit of -27,134,602.55 RMB after deducting non-recurring gains and losses [18]. - The company reported a net profit of -37,090,757.78 RMB for 2016, marking a continued loss from -24,596,514.95 RMB in 2015 and a profit of 34,988,394.25 RMB in 2014 [90]. - The company has not proposed any cash dividend distribution for the years 2014, 2015, and 2016 due to negative net profits [90]. - The company faces the risk of delisting if the net profit remains negative in the 2017 annual report [87]. Revenue and Sales - In 2016, the company achieved operating revenue of 433.6964 million RMB, a significant decrease compared to the previous year [30]. - The operating revenue from the subsidiary Changjiu Agricultural Science was 432.6933 million RMB, a decrease of 18.77% year-on-year [31]. - The production volume of acrylamide products was 46,891.05 tons, a decline of 15.59% year-on-year [31]. - The sales volume of acrylamide products was 46,953.40 tons, down 16.12% from the previous year [31]. - The company faced significant market challenges, including raw material price fluctuations and oversupply in the market, leading to compressed profit margins [31]. - The company's revenue from retail sales decreased by 28.18%, while wholesale revenue declined by 20.37% compared to the previous year [76]. Costs and Expenses - The company's operating costs also fell by 17.37% to about CNY 395.19 million, reflecting a decrease in raw material prices [37]. - The company incurred asset depreciation and impairment losses amounting to 19.4723 million RMB due to idle assets [30]. - The gross profit margin for the acrylic amide product was reported at 9.57%, a decrease of 2.64% compared to the previous year [40]. - The financial expenses decreased by 42.77% to CNY 9.39 million, attributed to reduced bank borrowings and interest expenses [37]. - The total cost for the chemical industry decreased by 20.86% to ¥352,657,834.27 from ¥445,585,846.60 in the previous year [44]. Assets and Liabilities - Accounts receivable increased by 84.48% to 21,604,562.99, attributed to unsettled payments [57]. - Inventory rose by 30.31% to 28,104,342.78, due to the transfer of prepaid materials to inventory [57]. - Prepayments decreased by 35.16% to 16,052,823.07, resulting from the transfer of prepaid material payments [57]. - Deferred income tax assets increased by 83.02% to 3,139,775.70, due to losses from a subsidiary [57]. - Tax payable decreased by 62.33% to 2,665,275.45, due to reduced profits from subsidiaries [57]. - Current liabilities exceeded current assets by RMB 173.95 million, indicating liquidity issues [156]. - Total liabilities decreased from RMB 371.02 million to RMB 353.91 million, a reduction of about 4.6% [160]. Production and Capacity - The capacity utilization rate for the Nanchang base was only 65% due to production halts, while the Rudong base was at 90% [31]. - The company has a production capacity of 30,000 tons at the Nanchang production base, with a utilization rate of 65% [67]. - The Jiangsu Rudong production base has a capacity of 30,000 tons, with a utilization rate of 90% [67]. - The company initiated the expansion of its acrylic amide crystal production capacity at the Jiangsu Rudong base, increasing capacity from 17,000 tons/year to 27,000 tons/year, expected to be completed by June 2017 [33]. - The company aims to achieve a total production and sales volume of 45,000 tons of acrylamide products in 2017, with a target of 50,000 tons [85]. Research and Development - Research and development expenses surged by 605.74% to CNY 13.26 million, up from CNY 1.88 million in the previous year [37]. - The company completed several R&D projects aimed at reducing production costs and improving product quality, with total project costs amounting to ¥13,261,044.29 [51][52]. - The company invested 13,261,044.29 in R&D for five projects related to the production of acrylamide [64]. Corporate Governance and Management - The company has established a cash dividend policy that prioritizes shareholder returns, with a plan for the next three years (2014-2016) outlined [89]. - The company’s independent directors have provided opinions on profit distribution policies to protect minority investors' rights [89]. - The company has implemented internal control measures to enhance governance and risk prevention [140]. - The board of directors held 9 meetings during the year, with 3 conducted in person and 6 via communication methods [142]. - The company maintains a stable management structure with no significant changes in personnel during the reporting period [131]. Shareholder Structure - The total number of common stock shareholders at the end of the reporting period is 32,996, an increase from 27,496 at the end of the previous month [118]. - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holds 43,980,000 shares, representing 18.22% of the total shares [120]. - The company has no other significant changes in shareholder structure or control relationships during the reporting period [122]. - The controlling shareholder is Jiangxi Changjiu Chemical Group Co., Ltd., with no other significant shareholders or changes reported [122]. Audit and Compliance - The audit report from Dahua Accounting Firm reflects the company's financial status accurately, confirming compliance with accounting standards [93]. - The company is under a non-standard audit opinion due to ongoing financial difficulties and operational challenges [92]. - The company’s accounting policies comply with the enterprise accounting standards, ensuring a true and complete reflection of its financial status [191].

Financial Performance - Operating revenue for the first nine months was CNY 302,419,508.47, down 29.25% year-on-year[6] - Net profit attributable to shareholders of the listed company was a loss of CNY 23,740,003.97, compared to a loss of CNY 14,630,378.29 in the same period last year[6] - The weighted average return on net assets was -50.86%, compared to -19.88% in the previous year[6] - Basic and diluted earnings per share were both -CNY 0.10, compared to -CNY 0.06 in the same period last year[6] - The net loss for Q3 2016 was CNY 10,562,774.47, compared to a net loss of CNY 8,919,508.51 in Q3 2015, indicating a worsening of approximately 18%[28] - The company's net profit for Q3 2016 was -10,562,774.47 RMB, compared to -9,188,412.37 RMB in the same period last year, indicating a decline of approximately 15%[29] - The company's total comprehensive income for Q3 2016 was -10,562,774.47 RMB, compared to -9,188,412.37 RMB in Q3 2015, showing a decline of approximately 15%[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 483,510,989.37, a decrease of 5.74% compared to the end of the previous year[6] - The company's current liabilities totaled CNY 333,029,006.42, slightly down from CNY 335,022,738.08 at the beginning of the year[24] - The total liabilities of the company were CNY 368,423,253.49, compared to CNY 371,016,985.15 at the start of the year, indicating a reduction in overall debt[24] - The company's total equity as of September 30, 2016, was negative CNY 13,976,728.49, compared to negative CNY 771,236.31 at the beginning of the year, indicating a significant decline in equity[26] - Accounts receivable increased by 101.94% to ¥23,648,893.53 due to unsettled payments this period[12] - Inventory decreased by 38.62% to ¥13,238,085.49 due to reduced stock levels[12] - The total equity attributable to shareholders decreased to CNY 36,573,605.84 from CNY 58,544,761.16, a decline of approximately 37.5%[24] Cash Flow - The net cash flow from operating activities was CNY 1,499,426.70, a significant decrease of 97.72% compared to CNY 65,755,348.30 in the previous year[6] - Cash flow from operating activities for the first nine months of 2016 was 1,499,426.70 RMB, significantly lower than 65,755,348.30 RMB in the same period last year, indicating a decline of over 97%[35] - The cash inflow from operating activities totaled 345,049,601.20 RMB for the first nine months of 2016, compared to 458,029,813.95 RMB in the previous year, representing a decrease of approximately 25%[35] - Cash outflow for purchasing goods and services was 1,140,781.42, significantly higher than 179,300.80 in the previous year[37] - The company received government subsidies amounting to CNY 52,596.00 during the reporting period[8] Management and Strategic Decisions - The company terminated the equity transfer agreement for 85.40% of Changjiu Group due to failure to reach consensus with the buyer[13][14] - The company attempted to publicly transfer major assets with a minimum valuation of ¥54.34 million but failed to attract any bidders[16][17] - The board decided to terminate the major asset sale due to lack of interested buyers despite adjusting the sale price[19] - The company held an investor meeting to address concerns regarding the terminated asset sale and engage with stakeholders[19] - The company has committed to avoiding major asset sales until January 19, 2017, as part of its strategic planning[21] - The company reported that it does not anticipate significant changes in net profit compared to the previous year, indicating stability in its financial outlook[21] Expenses - Management expenses increased by 48.27% to ¥25,083,870.00, attributed to higher R&D costs compared to the same period last year[12] - Financial expenses decreased by 48.83% to ¥7,463,096.46 due to reduced bank loan interest payments[12] - Total operating costs for Q3 2016 were CNY 121,083,568.97, down from CNY 130,076,842.47 in the same period last year, reflecting a reduction of approximately 7%[28] - Management expenses increased to 3,882,024.18 RMB for the first nine months of 2016, up from 2,997,667.56 RMB in the previous year, marking a rise of about 30%[31] - Financial expenses for the first nine months of 2016 were 4,198,933.74 RMB, down from 5,078,185.63 RMB in the same period last year, indicating a decrease of approximately 17%[31]

Financial Performance - The company's operating revenue for the first half of 2016 was approximately ¥189.89 million, a decrease of 37.22% compared to ¥302.45 million in the same period last year[17]. - The net profit attributable to shareholders was a loss of approximately ¥15.72 million, compared to a loss of ¥5.78 million in the previous year[17]. - The net cash flow from operating activities was negative at approximately ¥3.92 million, a decline of 112.12% from a positive cash flow of ¥32.31 million in the same period last year[17]. - The basic earnings per share for the first half of 2016 was -¥0.07, compared to -¥0.02 in the same period last year[19]. - The weighted average return on net assets was -31.01%, a significant decline from -7.40% in the previous year[19]. - The sales revenue from the main product, acrylamide, was CNY 182.06 million, down 38.15% year-on-year, with sales volume decreasing by 18.78%[34]. - The company reported a net loss of CNY 561,496,967.85, compared to a loss of CNY 545,778,976.79 in the prior period[78]. - The net profit for the first half of 2016 was a loss of CNY 9,889,866.06, compared to a loss of CNY 10,864,608.38 in the previous year, indicating an improvement of 9.0%[88]. - The operating profit for the first half of 2016 was a loss of CNY 8,091,352.89, which is an improvement of 28.5% from a loss of CNY 11,258,803.10 in the same period last year[88]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥488.90 million, down 4.69% from ¥512.96 million at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 24.89% to approximately ¥43.97 million from ¥58.54 million at the end of the previous year[18]. - The company's total assets decreased to CNY 488,899,477.46 from CNY 512,960,994.77, a decline of 4.7%[78]. - Total liabilities decreased to CNY 364,387,090.73 from CNY 371,016,985.15, a reduction of 1.7%[78]. - The total current liabilities amounted to CNY 328,992,843.66, slightly down from CNY 335,022,738.08, a decrease of 1.5%[78]. Cash Flow - The company's cash and cash equivalents decreased from ¥39,280,041.95 to ¥34,074,816.94, a decline of approximately 13.5%[76]. - The total current assets decreased from ¥166,231,185.03 to ¥156,782,304.99, a reduction of about 5.5%[76]. - The company's cash outflow from investing activities was CNY 178,502.30, a decrease from CNY 5,589,672.10 in the same period last year[91]. - The company's cash outflow for employee payments was 679,871.49 RMB, an increase from 593,177.87 RMB in the previous period, indicating rising labor costs[93]. - The ending balance of cash and cash equivalents was 412,968.48 RMB, down from 1,564,888.63 RMB in the previous period, representing a decrease of approximately 74%[94]. Operational Changes - The company plans to dispose of idle assets, including 100% equity of Changjiu Qingyuan and Changjiu Fertilizer, with a base price of CNY 54.34 million for the public transfer[26]. - The company plans to publicly transfer assets valued at 54.34 million RMB, including 100% equity of Changjiu Qingyuan and Changjiu Chemical, through a public listing from July 28 to August 26, 2016[46]. - The company plans to continue its major asset restructuring, with stock suspension starting from June 1, 2016, due to significant changes in control[61]. - The company terminated the major asset restructuring plan due to the inability to complete the related proposals by August 14, 2016[63]. - The company aims to enhance its acrylamide industry presence by focusing on the subsidiary Changjiu Agricultural Science, which holds a leading market share in the sector[112]. Related Party Transactions - The company did not report any non-operating fund occupation by controlling shareholders or related parties[3]. - The company maintains independence despite related party transactions, which are necessary for its operations[49]. - The company confirmed its share of assets and liabilities in joint operations and recognizes income from the sale of joint outputs[133]. Compliance and Governance - The report period covers January to June 2016, and the financial report has not been audited[3]. - The company has ensured compliance with corporate governance standards as per relevant laws and regulations[57]. - The company has not encountered any penalties or corrective actions involving its directors, supervisors, or major shareholders[56]. Financial Management - The company has engaged Da Hua Accounting Firm for financial and internal control audits for the year 2016[56]. - The company recognizes provisions for liabilities when there is a present obligation that is likely to result in an outflow of economic benefits and can be reliably measured[184]. - The company recognizes rental expenses on a straight-line basis over the lease term, including initial direct costs related to leasing transactions[193]. Accounting Policies - The company's financial statements are prepared in accordance with the accounting standards set by the Ministry of Finance, ensuring a true and complete reflection of its financial status[115]. - The company has not made any changes to its significant accounting policies or estimates during the reporting period[196]. - The company recognizes impairment losses on assets in joint operations fully, while sharing losses based on ownership share for purchased assets[133].

Financial Performance - Operating revenue decreased by 38.22% to CNY 94,304,724.76 compared to the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 6,973,635.95, compared to a loss of CNY 5,102,471.60 in the same period last year[7] - The weighted average return on equity was -12.67%, down from -6.51% in the same period last year[7] - Net loss for Q1 2016 was CNY -8,716,264.98, compared to a net loss of CNY -4,942,472.12 in the previous year, representing an increase in loss of 76.3%[28] - The net profit attributable to the parent company for Q1 2016 was CNY -6,973,635.95, worsening from CNY -5,102,471.60 in the same quarter last year[28] - Basic and diluted earnings per share for Q1 2016 were both CNY -0.029, compared to CNY -0.021 in the previous year[28] Assets and Liabilities - Total assets increased by 2.76% to CNY 527,096,561.27 compared to the end of the previous year[7] - The company's total liabilities were ¥393,123,087.04, up from ¥371,016,985.15, indicating an increase in financial obligations[20] - Total assets at the end of the reporting period were CNY 234,918,750.25, down from CNY 239,186,680.05 at the beginning of the year[24] - Total liabilities decreased to CNY 238,896,136.73 from CNY 239,957,916.36 at the beginning of the year[24] - Current assets totaled CNY 43,271,114.26, a decrease of 5.4% from CNY 45,766,266.67 at the start of the year[24] - Non-current assets amounted to CNY 191,647,635.99, down from CNY 193,420,413.38 at the beginning of the year[24] Cash Flow - Net cash flow from operating activities decreased by 63.62% to CNY 13,577,767.85 compared to the same period last year[7] - The net cash flow from financing activities was ¥8,955,156.46, compared to a negative cash flow of ¥4,900,081.48 in the previous period, indicating a decrease in bank loan repayments[14] - Cash flow from operating activities generated a net inflow of CNY 13,577,767.85, down 63.6% from CNY 37,323,291.09 in the previous year[32] - Cash outflow from operating activities totaled CNY 90,991,567.97, down 22.2% from CNY 116,892,861.99 in Q1 2015[32] - The net cash flow from financing activities was -3,013,188.67[35] Shareholder Information - The total number of shareholders was 22,433 at the end of the reporting period[11] Operational Changes - The company is undergoing a significant asset restructuring, with a major asset sale expected to be discussed by the controlling shareholder, which has led to a temporary suspension of trading[15] - The company has committed to addressing issues raised in the audit report from Dahuacpa, with measures actively being implemented[14] - The company anticipates potential losses or significant changes in net profit compared to the previous year, but no specific warnings were applicable at this time[16] Other Financial Metrics - Cash and cash equivalents increased by 57.18% to CNY 61,742,156.26 due to reduced procurement payments and increased bank borrowings[13] - Accounts receivable increased by 73.91% to CNY 20,366,608.76 due to unsettled sales payments[13] - Prepayments increased by 75.41% to CNY 23,978,246.15 due to unsettled advance payments[13] - The operating cost decreased by 38.65% to ¥82,700,140.23 from ¥134,798,567.88, due to a reduction in production and procurement prices[14] - The company incurred operating costs of CNY 2,876,012.73, which is a decrease of 17.8% from CNY 3,503,466.76 in the previous year[30] - Management expenses for Q1 2016 were CNY 1,020,925.42, slightly down from CNY 1,040,107.33 in Q1 2015[30] - Financial expenses decreased to CNY 1,439,137.92 from CNY 1,812,194.98, reflecting a reduction of 20.5%[30]

Financial Performance - The net profit attributable to shareholders for 2015 was -24,596,514.95 RMB, a decrease of 170.30% compared to the previous year[2]. - The total operating revenue for 2015 was 542,376,142.13 RMB, down 25.27% from 725,819,922.73 RMB in 2014[17]. - The basic earnings per share for 2015 was -0.10 RMB, a decline of 171.43% compared to 0.14 RMB in 2014[18]. - The weighted average return on net assets was -35.27% for 2015[18]. - The company’s total comprehensive income for 2015 was a loss of CNY 21,789,275.63, compared to a profit of CNY 40,385,342.68 in the previous year[148]. - The company reported a net loss for the year of CNY 6,145,205.40, compared to a net loss of CNY 36,716,691.30 in the previous year[147]. - The total profit for the year was a loss of CNY 18,202,915.83, compared to a profit of CNY 40,858,517.90 in the previous year[148]. Cash Flow and Assets - The net cash flow from operating activities was 95,940,276.07 RMB, a significant increase of 1,434.14% compared to 6,253,689.56 RMB in 2014[17]. - The total assets at the end of 2015 were 512,960,994.77 RMB, a decrease of 17.54% from 622,061,438.42 RMB in 2014[17]. - The company’s cash and cash equivalents increased to RMB 39.28 million from RMB 32.88 million, indicating a positive cash flow trend[140]. - The company’s accounts receivable decreased significantly from RMB 67.59 million to RMB 53.07 million, reflecting improved collection efforts[140]. - The company’s total liabilities decreased from RMB 249.50 million to RMB 166.23 million, indicating a reduction in financial obligations[141]. - The company’s short-term borrowings were reduced from RMB 152.25 million to RMB 72.25 million, reflecting a decrease in debt levels[141]. Revenue Sources and Operations - In 2015, the company achieved operating revenue of RMB 54,237.61 million, with a net profit attributable to shareholders of RMB -2,459.65 million[31]. - The main revenue source was from the subsidiary Changjiu Agricultural Science and Technology Co., which generated operating income of RMB 53,266.92 million, a year-on-year decrease of 25.17%[30]. - The production of synthetic ammonia, urea, methanol, and other products has been halted for years, with the company currently focusing on the production and sales of acrylamide[25]. - The comprehensive production of acrylamide reached 55,548 tons, while the comprehensive sales volume was 55,975 tons, reflecting a decrease of 5.56% and 4.90% respectively compared to the previous year[37]. Management and Governance - The company has detailed risk disclosures in the management discussion and analysis section of the report[4]. - The company has established various governance structures and internal control systems to enhance operational compliance and protect shareholder interests[111]. - The company has implemented a performance evaluation and incentive mechanism for senior management, ensuring effective distribution and restraint[124]. - The company’s independent director, Mr. Cao Yushan, resigned due to work reasons, highlighting potential shifts in governance[104]. Challenges and Strategic Plans - The company faced significant depreciation and asset impairment losses exceeding RMB 20 million due to idle assets, impacting its ongoing operations[30]. - The overall economic slowdown and fluctuating raw material prices have adversely affected the acrylamide industry, leading to low product prices and insufficient operating rates[25]. - The company plans to reduce production costs to the lowest level in the industry through technological upgrades and energy-saving measures[56]. - The company intends to optimize its asset structure and improve cash flow by accelerating the disposal of idle assets through public listings and other methods[179]. Shareholder Information - The total number of ordinary shareholders increased from 22,435 to 24,365 during the reporting period[84]. - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holds 43,980,000 shares, representing 18.2% of the total shares[86]. - The company does not have any reported related party transactions among the top shareholders[87]. Environmental and Compliance Efforts - The company implemented an environmental project to reduce chemical oxygen demand and ammonia nitrogen, receiving RMB 3 million in special funds from the provincial government[33]. - The company’s subsidiary, Jiangxi Changjiu Agricultural Science and Technology Co., Ltd., faced administrative penalties due to wastewater exceeding standards, prompting upgrades to wastewater treatment facilities[80]. Financial Reporting and Audit - The audit report from Dahua Accounting Firm objectively reflects the company's financial status, confirming compliance with accounting standards[62]. - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting its financial status and operational results accurately[181].

Financial Performance - Operating revenue for the first nine months was CNY 427,464,835.24, a decrease of 18.95% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 14,630,378.29, improving by 55.55% compared to the same period last year[6] - Basic and diluted earnings per share were both CNY -0.06, an improvement of 57.14% year-on-year[7] - Total revenue for Q3 2015 was CNY 125,019,195.69, a decrease of 35.8% compared to CNY 194,791,692.04 in Q3 2014[26] - Total operating costs for Q3 2015 were CNY 130,076,842.47, down 36.3% from CNY 204,099,581.54 in Q3 2014[27] - Net loss for Q3 2015 was CNY 9,188,412.37, compared to a net loss of CNY 12,390,894.64 in Q3 2014, showing an improvement[27] - The net profit attributable to the parent company for Q3 2015 was -8,853,589.27 CNY, compared to -11,562,725.85 CNY in Q3 2014, indicating an improvement of approximately 23.4% year-over-year[28] - The total comprehensive income for Q3 2015 was -9,188,412.37 CNY, a decrease from -12,390,894.64 CNY in the same period last year, reflecting a 25.5% improvement[28] - Operating profit for Q3 2015 was -2,124,453.00 CNY, an improvement from -7,046,479.70 CNY in Q3 2014, showing a reduction in losses of approximately 69.9%[30] - The total profit for the first nine months of 2015 was -14,266,243.86 CNY, compared to -30,361,654.01 CNY in the same period last year, indicating a significant reduction in losses of about 53%[30] - The total comprehensive income for the first nine months of 2015 was -14,266,243.86 CNY, a significant improvement from -30,361,654.01 CNY in the same period last year, reflecting a reduction in losses of approximately 53%[31] Assets and Liabilities - Total assets decreased by 6.77% to CNY 579,955,697 compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 15.17% to CNY 68,641,775.22 compared to the end of the previous year[6] - The total assets decreased from CNY 622,061,438.42 to CNY 579,955,697.00, reflecting a reduction in both current and non-current assets[19] - Total liabilities as of September 30, 2015, were CNY 238,025,368.59, slightly down from CNY 239,591,176.69 at the beginning of the year[25] - The company's total equity decreased to CNY 12,990,877.46 from CNY 27,257,121.32 at the beginning of the year, indicating a significant decline[25] - Long-term investments increased to CNY 78,470,409.81 from CNY 61,615,599.75, reflecting a growth of 27.2%[24] Cash Flow - Net cash flow from operating activities was CNY 65,755,348.30, a significant increase compared to a negative cash flow of CNY -4,525,014.17 in the same period last year[6] - Operating cash inflow for Q3 2015 was CNY 458,029,813.95, a decrease of 24.2% compared to CNY 604,509,562.81 in Q3 2014[34] - Net cash flow from operating activities for the first nine months was CNY -1,769,766.47, compared to CNY 1,616,580.97 in the previous year[37] - The company reported a net cash outflow of CNY -1,932,766.47 for the first nine months of 2015, compared to CNY -418,419.03 in the same period last year[38] - The ending cash and cash equivalents balance for the first nine months was CNY 388,069.48, down from CNY 3,383,766.77 at the end of the previous year[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 23,906[13] - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., held 18.22% of the shares[13] - The company has committed to not reducing its shareholding in the secondary market for six months starting from July 10, 2015[17] Operational Changes - The company plans to enhance the operational capacity of its subsidiary Changjiu Agricultural Science and Technology by preparing for expansion at the Jiangsu Rudong base[16] Other Financial Metrics - Non-recurring gains and losses included government subsidies of CNY 3,000,000 related to normal business operations[9] - The company reported a loss of CNY -3,898,762.84 in other operating income and expenses[10] - Prepayments decreased by 45.68% from CNY 44,587,723.80 to CNY 24,221,435.45 due to a reduction in advance payments for goods[15] - Inventory decreased by 37.75% from CNY 52,170,338.96 to CNY 32,477,967.02 attributed to a decline in raw material purchase prices[15] - Short-term borrowings decreased by 34.00% from CNY 152,250,000.00 to CNY 100,480,000.00 due to an increase in bank loan repayments[15] - Tax payable increased by 85.78% from CNY 3,591,902.48 to CNY 6,673,118.46 due to an increase in value-added tax payable[15] - Other non-current assets decreased by 66.39% from CNY 7,670,231.49 to CNY 2,578,117.87 due to a reduction in advance payments for equipment purchases[15] - Financial expenses decreased by 50.76% from CNY 29,624,794.59 to CNY 14,585,918.48 due to a reduction in payable capital occupation fees compared to the previous year[15] - The company reported an increase in asset impairment losses by 69.57% from CNY 2,882,594.96 to CNY 4,888,136.92 due to the consolidation of the wholly-owned subsidiary Changjiu Fertilizer[15] - The company has not disclosed any new product developments or market expansion strategies in the current report[30]