证券代码：600273 股票简称：嘉化能源 编号：2019-095 浙江嘉化能源化工股份有限公司 关于参加浙江辖区上市公司投资者网上 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沟通交流，浙江嘉化能源化工股份有限公司（以下简 称"公司"或"嘉化能源"）将参加由浙江上市公司协会、深圳市全景网络有限公 司共同举办的"浙江辖区上市公司投资者网上集体接待日"活动（以下简称"本次 活动"），现将有关事项公告如下： 本次活动将通过深圳市全景网络有限公司提供的网上平台，采取网络远程方式 举行。投资者可登录"投资者关系互动平台"网站(http://rs.p5w.net）参与本次 投资者集体接待日活动，活动时间为 2019 年 11 月 5 日（星期二）下午 15:30 至 17:00。 届时公司总经理汪建平先生、财务负责人杨军先生及董事会秘书马现华先生等将通 过网络在线交流形式与投资者就公司治理、发展战略、经营状况、可持续发展等投 资者关心的问题进行沟通。 欢迎广大投资者积极参与。 特此公 ...

Financial Performance - Net profit attributable to shareholders of the listed company was ¥942,304,382.17, marking a year-on-year increase of 10.19%[18]. - Basic earnings per share increased to ¥0.67, up 15.52% from ¥0.58 in the same period last year[21]. - The weighted average return on net assets rose to 14.13%, an increase of 1.23 percentage points compared to the previous year[21]. - Operating revenue for the year-to-date was ¥4,062,820,205.68, a decrease of 3.03% compared to the same period last year[18]. - The company reported a total profit of ¥348.71 million for Q3 2019, compared to ¥329.58 million in Q3 2018, reflecting a growth of 5.8%[61]. - Net profit for Q3 2019 reached ¥292.09 million, an increase of 6.3% compared to ¥275.04 million in Q3 2018[61]. - The total operating profit for the period was approximately CNY 316.81 million, showing an increase from CNY 309.57 million in the previous period, representing a growth of about 0.4%[66]. - The net profit for the period reached CNY 268.77 million, slightly up from CNY 266.75 million year-over-year, indicating a growth of approximately 0.8%[66]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥8,278,807,786.75, an increase of 1.59% compared to the end of the previous year[18]. - Current assets totaled ¥2,645,514,109.65, slightly down from ¥2,678,079,573.36, indicating a decrease of about 1.22%[46]. - Non-current assets rose to ¥5,633,293,677.10 from ¥5,471,426,390.86, reflecting an increase of approximately 2.96%[46]. - Total liabilities decreased to ¥1,347,673,801.67 from ¥1,591,025,805.46, a reduction of approximately 15.30%[48]. - Total equity attributable to shareholders reached ¥6,540,732,474.65, contributing to total equity of ¥6,558,480,158.76[85]. - Total liabilities amount to approximately $1.31 billion[92]. - Total assets amount to approximately $7.72 billion[92]. Cash Flow - Net cash flow from operating activities for the period was ¥1,163,958,414.67, representing a significant increase of 73.46% compared to the same period last year[18]. - Cash flow from operating activities increased by 73.46% to ¥1,163,958,414.67, driven by reduced cash payments for raw materials[33]. - The cash flow from operating activities showed a strong performance, with a net increase of approximately ¥76 million in cash and cash equivalents, contrasting with a decrease of approximately -¥730 million in the previous year[74]. - The net cash flow from operating activities for the first three quarters of 2019 was approximately ¥1,007 million, a significant increase from ¥522 million in the same period of 2018, representing a growth of 92.8%[74]. - The cash inflow from investment activities totaled CNY 402.49 million, down from CNY 1.15 billion year-over-year, reflecting a decline of about 65%[72]. Shareholder Information - The company reported a total of 35,781 shareholders at the end of the reporting period[25]. - The largest shareholder, Zhejiang Jiahua Group Co., Ltd., holds 32.62% of the shares, amounting to 467,389,604 shares[25]. Investments and Acquisitions - Long-term equity investments surged by 95.14% to ¥81,790,126.91 due to subsidiary equity acquisitions[31]. - The acquisition of a 21% stake in Jiaxing Hangzhou Bay Petrochemical Logistics Co., Ltd. was completed for ¥38,010,000, with a valuation increase of 91.56%[34]. - The company plans to establish a wholly-owned subsidiary, Zhejiang Jiahua Hydrogen Energy Technology Co., Ltd., with an investment of ¥50,000,000 for hydrogen energy technology development[34]. Government Subsidies and Other Income - The company recognized government subsidies totaling ¥32,044,145.58 during the reporting period, closely related to its normal business operations[22]. - Other income grew by 132.18% to ¥32,927,538.48, reflecting new reward subsidies[33]. Research and Development - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[56]. - Research and development expenses increased to ¥55.89 million in Q3 2019, up 19.4% from ¥46.86 million in Q3 2018[63].

Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.65 RMB per 10 shares to all shareholders, totaling approximately 165 million RMB based on the total share capital as of the dividend record date [6]. - The company repurchased 40,785,336 shares during the reporting period, impacting the earnings per share calculation [25]. - The company repurchased a total of 40,785,336 shares, accounting for 2.85% of the total share capital, with a total payment of approximately 400.68 million yuan [63]. - The repurchased shares are intended for employee stock ownership plans and stock incentive programs, with an estimated maximum of 10 million shares (0.70% of total share capital) to be used for these purposes [196]. Financial Performance - The company's operating revenue for the first half of the year was ¥2,742,845,923.27, a decrease of 2.81% compared to the same period last year [24]. - Net profit attributable to shareholders was ¥651,085,777.03, representing an increase of 11.98% year-over-year [24]. - The net cash flow from operating activities increased by 48.17% to ¥586,741,491.34 compared to the previous year [24]. - Basic earnings per share rose to ¥0.46, up 17.95% from ¥0.39 in the same period last year [25]. - The weighted average return on net assets increased by 1.10 percentage points to 9.80% [25]. - The company's total assets as of June 30, 2019, were approximately 8.05 billion CNY, a decrease of 1.22% from the end of the previous year [63]. - The company's net assets attributable to shareholders increased to 6.621 billion CNY, up 1.23% from the end of the previous year [63]. - The company maintained a debt-to-asset ratio of 17.53%, which is a decrease of 1.99% compared to the end of the previous year [63]. Risk Management and Governance - The board of directors confirmed that the semi-annual report has not been audited, ensuring the accuracy and completeness of the financial report [5]. - There are no non-operating fund occupations by controlling shareholders or related parties, indicating a stable financial environment [8]. - The company has outlined potential risks in the report, emphasizing the importance of investor awareness regarding investment risks [7]. - The report includes a detailed discussion of operational risks and countermeasures, highlighting the company's proactive approach to risk management [8]. - The company has confirmed that all board members attended the board meeting, reflecting strong governance practices [5]. Operational Highlights - The company operates in the steam supply and chemical manufacturing sectors, focusing on a circular economy model [30][31]. - The steam supply business is expected to see stable growth due to increasing demand from enterprises in the Jiaxing Port area [34]. - The chemical industry is experiencing improved market conditions, with a focus on environmentally friendly and large-scale operations [35]. - The company has an annual production capacity of 30,000 tons for its sulfonated pharmaceutical series products, which are exported to the EU, South America, Japan, and India, with high customer recognition for product quality [36]. - The chlor-alkali series production capacity is 297,000 tons/year for caustic soda, utilizing advanced ion membrane technology, making the company the sole producer in the Zhejiang North region [40]. - The company has the largest single-set production capacity for fatty alcohols in China, with a gradual production increase to 160,000 tons, enhancing product variety and optimizing product structure [43]. - The company’s sulfuric acid production capacity is approximately 300,000 tons/year, making it the largest producer of refined sulfuric acid in the Zhejiang North region, with a focus on electronic-grade sulfuric acid for the semiconductor industry [46]. Research and Development - Research and development investment amounted to 103.94 million yuan in the first half of 2019, with 26 projects underway [69]. - The company has applied for a total of 59 patents, with 36 authorized patents, including 14 invention patents, ensuring a technological advantage in core industries [55]. - The company has established three provincial-level innovation platforms and a key technology innovation team, strengthening its core technology talent base [58]. Environmental and Safety Measures - The company has established an ISO 14001 environmental safety system and an OHSAS 18000 occupational health and safety management system to mitigate safety production risks [101]. - The company has implemented a series of pollution control facilities, including a 1-6 furnace SNCR flue gas denitrification system and a 7-8 furnace SNCR+SCR flue gas denitrification system, both operational since 2016 [157]. - The company has a wastewater treatment capacity of 3,000 tons/day, operational since 2010, and a fat alcohol wastewater treatment facility with a capacity of 2,400 tons/day, operational since 2013 [157]. - The company has implemented automatic monitoring for major pollutants, ensuring compliance with environmental standards [141]. - The company has conducted greenhouse gas emission verification and report preparation work [184]. Strategic Initiatives - The company is positioned to benefit from the "Yangtze River Delta Integration" national strategy, with expected industrial output in the Jiaxing Port area to reach nearly 100 billion CNY during the 13th Five-Year Plan period [59]. - The company plans to enhance its core industry chain and reduce reliance on downstream industries through new product development [69]. - The company signed a tripartite cooperation agreement with Air Products and Sanjiang Chemical to enhance hydrogen production capabilities [70]. - The establishment of Jiangsu Jiahua Hydrogen Energy Technology Co., Ltd. aims to develop hydrogen refueling stations in the Yangtze River Delta region [70]. Related Party Transactions - The total amount of related party transactions for the first half of 2019 was CNY 8,887,851.46, a decrease of 24.4% from CNY 11,749,099.31 in the previous period [124]. - The total sales of products and services to related parties amounted to CNY 394,799,915.23, a slight decrease of 3.0% from CNY 409,111,676.49 in the previous period [124]. - The company has committed to avoiding related party transactions and ensuring independence, with commitments effective from December 3, 2013, for the long term [110]. Subsidiary Performance - The overall performance of the subsidiaries indicates a mixed financial outlook, with some achieving profitability while others face significant losses [93][94][96]. - Zhejiang Jiahua New Materials Co., Ltd. generated total revenue of RMB 271.22 million with a net profit of RMB 45.32 million, achieving a profit margin of approximately 16.71% [94]. - Jiangsu Jiahua Hydrogen Energy Technology Co., Ltd. reported total assets of RMB 999,549.17 but incurred a net loss of RMB 61,405.83, highlighting operational difficulties [96].

Financial Performance - Net profit attributable to shareholders rose by 15.48% to CNY 339,852,501.04 year-on-year[12] - Operating revenue grew by 3.71% to CNY 1,421,296,140.78 compared to the same period last year[12] - Basic earnings per share increased by 20.00% to CNY 0.24[12] - The company reported a net cash flow from operating activities of ¥425,834,798.58 for Q1 2019, a significant increase of 1,196.48% compared to ¥32,845,350.34 in Q1 2018[20] - Net profit for Q1 2019 reached CNY 340,465,663.24, up from CNY 294,631,905.53 in Q1 2018, indicating a growth of approximately 15.5%[47] - Total comprehensive income for the quarter was ¥306,763,491.39, slightly down from ¥310,716,677.65 year-over-year[52] Assets and Liabilities - Total assets increased by 4.57% to CNY 8,521,940,568.66 compared to the end of the previous year[12] - The total assets as of March 31, 2019, amounted to ¥8,521,940,568.66, up from ¥8,149,505,964.22 as of December 31, 2018[25] - Total liabilities increased to ¥1,902,499,174.80, up from ¥1,591,025,805.46, representing a growth of approximately 19.5%[32] - Current liabilities totaled ¥1,466,354,603.23, compared to ¥1,154,188,022.07, indicating an increase of about 27%[32] - Total liabilities amounted to approximately ¥1,591,025,805.46, with current liabilities at ¥1,154,188,022.07 and non-current liabilities at ¥436,837,783.39[66] Shareholder Information - The total number of shareholders reached 33,382 by the end of the reporting period[16] - Zhejiang Jiahua Group Co., Ltd. holds 42.04% of the shares, with 602,389,604 shares pledged[16] Cash Flow - Cash flow from operating activities increased significantly to ¥425,834,798.58 from ¥32,845,350.34, indicating strong cash generation capabilities[52] - Total cash inflow from operating activities reached RMB 1,104,307,235.57, up from RMB 972,673,280.63 in the previous year[60] - The company reported a net decrease in cash and cash equivalents of RMB 61,982,964.34 for Q1 2019, compared to a decrease of RMB 476,424,063.87 in Q1 2018[62] Expenses and Income - Government subsidies recognized during the period amounted to CNY 29,218,489.56[15] - Non-operating income and expenses totaled CNY 26,270,707.81 after tax adjustments[15] - The company reported a decrease in investment income by 39.41%, down to ¥2,080,019.46 from ¥3,433,036.14 year-over-year[20] - Research and development expenses for Q1 2019 were CNY 48,054,736.14, down from CNY 54,683,149.76 in Q1 2018, a decrease of about 12.1%[44] Equity and Retained Earnings - The company's retained earnings rose to ¥2,584,599,356.42 from ¥2,244,746,855.38, an increase of about 15.1%[34] - The total equity attributable to shareholders increased to ¥6,603,528,656.85 from ¥6,540,732,474.65, reflecting a growth of approximately 1%[34] - Total equity reached ¥6,558,480,158.76, with paid-in capital of ¥1,432,730,543.00 and retained earnings of ¥2,244,746,855.38[66] Investment Activities - The company’s cash flow from investing activities showed an improvement, with a net outflow of ¥327,734,817.61, a 40.83% reduction compared to ¥553,848,665.03 in the previous year[20] - The company’s investment activities included cash outflows of RMB 468,558,217.94, which were significantly lower than RMB 811,198,461.05 in Q1 2018[60]

Financial Performance - The company's operating revenue for 2018 was CNY 5,603,762,607.90, representing a 0.50% increase compared to 2017 [26]. - Net profit attributable to shareholders for 2018 was CNY 1,100,178,312.41, reflecting a 13.59% increase year-over-year [26]. - The net cash flow from operating activities increased by 24.75% to CNY 741,115,029.13 in 2018 [26]. - The total assets decreased by 5.70% to CNY 8,149,505,964.22 at the end of 2018 compared to the end of 2017 [26]. - Basic earnings per share for 2018 was CNY 0.75, up 7.14% from CNY 0.70 in 2017 [27]. - The weighted average return on equity for 2018 was 16.64%, down 2.64 percentage points from 2017 [30]. - The company reported a total of CNY 20,250,406.59 in non-recurring gains and losses for the year [35]. - The company’s net profit excluding non-recurring gains and losses was 1.08 billion RMB, up 10.04% compared to the previous year [58]. - The company achieved total operating revenue of 5.604 billion RMB, with a net profit attributable to shareholders of 1.1 billion RMB, representing a year-on-year increase of 13.59% [68]. - The company's operating income increased by 0.50% compared to the previous year, while operating costs decreased by 1.99% [69]. - The asset-liability ratio improved to 19.52%, a decrease of 5.47% from the previous year [58]. Dividends and Share Buybacks - The company plans to distribute a cash dividend of 1.25 RMB per 10 shares to all shareholders, based on the total share capital as of the dividend record date [6]. - The cash dividend distribution plan for 2018 is set at RMB 1.25 per 10 shares (including tax), with a total cash dividend amount of RMB 175,398,763.38, accounting for 15.94% of the net profit attributable to ordinary shareholders [177]. - For the first half of 2018, the cash dividend was also RMB 1.25 per 10 shares, totaling RMB 179,091,317.88, representing 16.28% of the net profit attributable to ordinary shareholders [177]. - The company completed a cash buyback of RMB 500 million in 2018, which is considered equivalent to cash dividends [176]. - The company has not distributed any bonus shares or increased capital reserves into share capital in 2018 [176]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [5]. - The company’s financial report is confirmed to be true, accurate, and complete by its management [5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [8]. - The company has not violated decision-making procedures for providing guarantees [8]. - The company has not faced any risks of suspension or termination of its listing status [200]. - There are no significant litigation or arbitration matters reported for the current year [200]. Risk Management - The company emphasizes that future plans and development strategies involve uncertainties and do not constitute a commitment to investors [7]. - The company has detailed potential risk factors and countermeasures in its report, which can be found in the discussion and analysis section [8]. - The company is facing potential risks related to safety production and environmental protection, which could impact its operations and reputation [168]. - The company is monitoring raw material price fluctuations and implementing cost control measures to mitigate risks associated with price volatility [170]. Environmental and Safety Initiatives - The company has invested approximately 137.17 million yuan in environmental protection initiatives, ensuring compliance with national emission standards [54]. - The cogeneration facility has undergone ultra-low emission technology upgrades, improving environmental performance and operational efficiency [56]. - The company is committed to maintaining compliance with environmental standards, with all emissions meeting national requirements [168]. - The company has a strong focus on safety and environmental investments, continuously improving product quality [98]. Research and Development - The company has formed a stable core technical talent pool, supporting ongoing innovation and development across its industries [53]. - The company has established a key technology innovation team in Jiaxing, enhancing its R&D capabilities and collaboration with universities and research institutions [105]. - Research and development expenses were 199,132,156.90 yuan, showing a slight decrease of 0.22% compared to the previous year [86]. - The company is the only one in the industry using continuous sulfonation pipeline reaction technology, enhancing its competitive edge [95]. Market Position and Product Development - The company primarily manufactures and sells steam, chlor-alkali products, fatty alcohols, sulfonated pharmaceutical products, and sulfuric acid products, with a focus on a circular economy model in the chemical new materials sector [38]. - The company is recognized as a leading producer of sulfonated pharmaceutical products in China, with a total of 51 patent applications and 35 authorized patents, including 14 invention patents [53]. - The company’s new product, BA, has received recognition from downstream suppliers, further solidifying its market position [53]. - The company’s market share in the sulfonated pharmaceutical series products has improved significantly due to increased production capacity [95]. - The company is focusing on high-efficiency cogeneration systems to enhance energy utilization and meet stricter environmental standards [150]. Investments and Acquisitions - The company has invested a total of RMB 89,214.60 million in five solar power station projects by the end of 2018, indicating a strong commitment to renewable energy [46]. - The company has acquired 74.2857% of Xincheng Chemical, making it a wholly-owned subsidiary, and has also acquired stakes in five distributed photovoltaic power station project companies [46]. - The company plans to acquire a 21% stake in Jiaxing Hangzhou Bay Petrochemical Logistics Co., Ltd. for CNY 4,000 million, with a prepayment of CNY 30 million already made [134]. - The company approved investments in projects for dichloroethane and vinyl chloride, which are expected to enhance economic benefits upon completion [98]. Production and Sales - The company’s steam supply demand is expected to grow steadily due to the increasing number of enterprises in the Jiaxing Port area, with an estimated output value of RMB 100 billion during the 13th Five-Year Plan [41]. - The company achieved a total steam sales volume of 744.64 thousand tons in 2018, exceeding the planned target of 708 thousand tons by 5.18% [167]. - The actual sales volume of caustic soda was 33.84 thousand tons, surpassing the planned target of 31 thousand tons by 9.16% [167]. - The company’s chlor-alkali production facility is the largest ion membrane production system in northern Zhejiang, providing a competitive edge amid stricter environmental regulations [56]. Strategic Goals - The company is focused on enhancing its industry-leading position and cultivating new profit growth points through strategic investments in technology and production capacity [136]. - The company is actively pursuing external acquisitions to expand its steam and chemical production capabilities, aligning with the rapid development of the Jiaxing port area [162]. - The company aims to increase the production capacity of high-value-added products, such as BA, to meet the growing demand in the pharmaceutical sector [161].

Financial Performance - Net profit attributable to shareholders increased by 25.41% to CNY 855,198,674.09 for the first nine months of the year[6] - Revenue for the first nine months rose by 4.51% to CNY 4,189,700,330.90 compared to the same period last year[6] - Basic earnings per share increased by 13.73% to CNY 0.58[6] - Total operating revenue for Q3 2018 reached ¥1,367,450,448.64, a slight increase of 1.6% compared to ¥1,345,241,754.79 in Q3 2017[24] - Net profit for Q3 2018 was ¥275,044,855.05, representing a 23% increase from ¥223,760,577.05 in Q3 2017[25] - The company reported a total profit of CNY 309,275,883.69 for Q3 2018, up from CNY 283,997,795.94 in Q3 2017, marking an increase of approximately 8.5%[29] Cash Flow - Operating cash flow increased significantly by 516.65% to CNY 671,037,329.52 year-to-date[6] - The net cash flow from operating activities for the first nine months of 2018 was CNY 671,037,329.52, a significant increase of 516.65% compared to the previous year[13] - Cash and cash equivalents at the end of Q3 2018 totaled CNY 702,160,581.78, an increase from CNY 632,163,656.00 at the end of Q3 2017[31] - Total cash inflow from financing activities was ¥1,198,824,588.73, a significant decrease from ¥4,923,850,646.90 in the prior year, reflecting reduced borrowing and investment inflows[34] - Net cash flow from financing activities was negative at ¥669,931,428.39, compared to a positive cash flow of ¥1,307,354,762.60 in the same period last year[34] Assets and Liabilities - Total assets decreased by 5.59% to CNY 8,158,704,105.91 compared to the end of the previous year[6] - Current assets decreased from ¥3,221,848,569.20 to ¥2,753,383,183.34, a reduction of about 14.5%[21] - Total liabilities decreased from ¥2,160,044,891.12 to ¥1,843,163,156.42, a reduction of about 14.7%[20] - The total equity attributable to shareholders decreased from ¥6,466,869,833.69 to ¥6,298,727,043.62, a decline of about 2.6%[21] Investments - Investment income increased by 433.09% to CNY 13,049,371.02, driven by gains from financial products and investments in joint ventures[13] - The company acquired equity in four distributed photovoltaic power station project companies for a total of CNY 25,180,400, adding a capacity of 21.31 MW[16] - The company plans to increase its stake in Jiahu New Materials by investing CNY 99,051,909, resulting in a 98.5935% ownership post-investment[14] Shareholder Information - The total number of shareholders reached 31,188 by the end of the reporting period[10] - Zhejiang Jiahua Group Co., Ltd. held 42.04% of the shares, with 602,389,604 shares pledged[10] Other Financial Metrics - The weighted average return on equity decreased by 1.89 percentage points to 12.90%[6] - The company reported a net loss from the disposal of fixed assets amounting to CNY 1,978,092.24 for the third quarter[9] - Government subsidies recognized during the period amounted to CNY 8,746,737.25[9] - Research and development expenses for Q3 2018 were ¥46,857,978.76, down 28% from ¥65,219,913.39 in Q3 2017[24]

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥2.82 billion, representing a 5.96% increase compared to ¥2.66 billion in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2018 was approximately ¥581.42 million, an increase of 26.72% from ¥458.84 million in the previous year[20]. - The net cash flow from operating activities improved significantly to approximately ¥396.00 million, compared to a negative cash flow of ¥198.21 million in the same period last year, marking a 299.79% increase[20]. - Basic earnings per share for the reporting period increased to CNY 0.39, up 11.43% from CNY 0.35 in the same period last year[21]. - The weighted average return on equity decreased to 8.70%, down 2.32 percentage points from 11.02% in the previous year[21]. - The asset-liability ratio improved to 21.70%, a decrease of 3.29% from the end of the previous year, indicating enhanced financial stability[57]. - The EBITA interest coverage ratio was 60.81, up 156.37% year-on-year, demonstrating strong earnings relative to interest expenses[57]. - The company reported a total profit of ¥649,841,355.33, slightly up from ¥644,054,814.68 in the previous period[175]. - The company reported a total of 4,972,169 RMB used from other reserves during the current period[188]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of ¥1.25 per 10 shares to all shareholders, with no bonus shares or capital reserve conversion into shares[4]. - The company has repurchased a total of 44,619,437 shares, representing 3.01% of its total share capital[85]. - The company plans to repurchase shares with a total fund not less than RMB 50 million and not exceeding RMB 500 million, with an expected repurchase of at least 4.55 million shares, accounting for 0.30% of the total share capital[45]. - The company plans to increase its shareholding by acquiring no less than 1 million shares, which accounts for 0.07% of the total share capital[88]. - The total number of shares to be acquired during the increase period is not to exceed 29.69 million shares, representing 2.00% of the total share capital[88]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥8.58 billion, showing a slight decrease of 0.70% from ¥8.64 billion at the end of the previous year[20]. - The company's total equity increased from CNY 6,482,036,402.09 to CNY 6,719,073,032.50, indicating a strengthening financial position[166]. - The total amount of bonds issued was RMB 300 million, with an interest rate of 4.78%[151]. - The company reported a decrease in total equity attributable to shareholders by RMB 9,482,546.00 during the first half of 2018[184]. - The total comprehensive income for the period was RMB 581,419,000, contributing to the overall equity changes[185]. Operational Highlights - The company operates in the chemical industry, focusing on steam, chlor-alkali products, and sulfuric acid, with a business model centered around cogeneration[27][28]. - The company has established a partnership with BASF to create a leading electronic-grade sulfuric acid production base, with stable production achieved in the first phase[39]. - The company’s fatty alcohol production project has an annual capacity of 160,000 tons, contributing to product diversification and improved profitability[38]. - The company has introduced ion membrane caustic soda technology from Japan, enhancing production efficiency and cost-effectiveness[35]. - The company is focused on technological innovation and environmental protection, with no major safety or environmental incidents reported in the first half of 2018[60]. Environmental and Regulatory Compliance - The company has implemented advanced environmental protection technologies in its cogeneration facility, contributing to lower emissions and improved efficiency[52]. - The company is classified as a key pollutant discharge unit in Jiaxing City, indicating its significant environmental impact[104]. - The company has established an ISO 14001 environmental management system and has obtained certification[126]. - The company has implemented a self-monitoring plan for environmental protection, which was completed in May 2014 and revised in July 2017[123]. - The company has engaged in the disposal of hazardous waste, including 4.84 tons of distillation residue and 4.72 tons of hazardous packaging waste[111]. Market and Industry Outlook - The chlor-alkali industry is undergoing structural adjustments, with an increase in industry concentration and a focus on energy efficiency and environmental protection[33]. - National chlor-alkali enterprise operating rates reached 84% in early 2018, the highest in a decade, indicating strong market demand[34]. - The company is positioned to benefit from the growing demand in downstream industries such as petrochemicals and new materials[34]. - The market for fatty alcohols is expanding due to increasing demand for green and environmentally friendly chemical products[37]. - The company faces potential risks from changes in industrial and environmental policies, which could impact production operations[79]. Risks and Challenges - The company anticipates facing significant short-term pressure due to rising costs, declining product gross margins, and slowing sales growth amid macroeconomic challenges[81]. - The company is exposed to cyclical fluctuations in the chemical industry, which are closely tied to the national economic performance[80]. - The company has identified potential risks in its solar photovoltaic business, including grid transmission limitations and distributed solar project failures[82]. - The company is closely monitoring raw material price trends to mitigate the impact of price fluctuations on operational performance[81]. - The company faces risks related to the transformation and upgrading of downstream industries, which may affect product demand and market share[82].

Financial Performance - Operating revenue for the current period was CNY 1,370,469,301.74, an increase of 3.82% year-on-year [6]. - Net profit attributable to shareholders of the listed company reached CNY 294,292,814.60, reflecting a growth of 23.47% compared to the same period last year [6]. - Basic and diluted earnings per share were both CNY 0.20, representing an increase of 11.11% from CNY 0.18 in the previous year [6]. - The company reported a total asset value of CNY 8,601,204,504.71, down from CNY 8,642,081,293.21, a decrease of about 0.48% [21]. - Total operating revenue for Q1 2018 was CNY 1,370,469,301.74, an increase of 3.3% compared to CNY 1,320,019,544.92 in the same period last year [27]. - Net profit for Q1 2018 reached CNY 294,631,905.53, representing a 23.5% increase from CNY 238,644,624.11 in Q1 2017 [28]. - Earnings per share for Q1 2018 were CNY 0.20, compared to CNY 0.18 in the same quarter last year [29]. - Investment income for Q1 2018 was CNY 3,433,036.14, compared to a loss of CNY 2,123,394.37 in the same period last year [28]. Cash Flow - The net cash flow from operating activities improved significantly to CNY 32,845,350.34, a turnaround from a loss of CNY 228,794,326.58 in the previous year, marking an increase of 114.36% [6]. - Cash flow from operating activities was CNY 1,031,864,735.23, significantly higher than CNY 787,890,154.17 in Q1 2017 [33]. - Net cash flow from operating activities was CNY 1,136,896.81, a significant improvement compared to a net outflow of CNY -276,349,156.91 in the previous period [36]. - The ending cash and cash equivalents balance was CNY 798,915,723.07, a decrease from CNY 1,275,339,786.94 at the beginning of the period [37]. - The net increase in cash and cash equivalents was CNY -476,424,063.87, compared to a decrease of CNY -72,853,438.44 in the previous period [37]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,601,204,504.71, a decrease of 0.47% compared to the end of the previous year [6]. - Total current assets increased slightly to CNY 3,242,779,740.56 from CNY 3,221,848,569.20, reflecting a growth of approximately 0.65% [19]. - Total non-current assets decreased to CNY 5,358,424,764.15 from CNY 5,420,232,724.01, a decline of approximately 1.14% [20]. - Total liabilities decreased from CNY 2,160,044,891.12 to CNY 1,874,304,221.40, a reduction of about 13.3% [21]. - Short-term borrowings increased by 138.86% to RMB 331,456,564.76, attributed to the expiration of letters of credit [13]. - Accounts payable decreased from CNY 1,184,714,632.93 to CNY 981,268,125.59, a decline of approximately 17.2% [20]. Shareholder Information - The total number of shareholders at the end of the reporting period was 37,910 [10]. - Zhejiang Jiahua Group Co., Ltd. held 40.44% of the shares, with 600,389,604 shares pledged [10]. - The company completed a share buyback of 9,482,546 shares, accounting for 0.63% of the total share capital, with a total expenditure of RMB 85,258,688.26 [16]. Investments and Acquisitions - The company planned to acquire 100% equity of Zhejiang Meifu Petrochemical Co., Ltd., but later terminated the major asset restructuring plan [15]. - The company increased its investment in its subsidiary, Jiahua New Materials, by RMB 99,051,909, raising its ownership to 98.5935% [15]. - The company’s financial assets at fair value decreased to RMB 0 from RMB 420,000,000.00, indicating a shift in investment strategy [14]. Other Income and Expenses - The company recognized government subsidies amounting to CNY 505,855.59 during the reporting period [8]. - The total non-operating income amounted to CNY 4,326,048.41, primarily from supplier compensation and other sources [8]. - The company reported a financial expense of CNY -16,772,364.55, a significant improvement from CNY 6,581,113.15 in Q1 2017 [28]. - The company reported a 46.32% increase in selling expenses, rising to RMB 19,912,661.43 due to increased shipping costs [14].

Financial Performance - The company's operating revenue for 2017 was CNY 5,576,006,079.31, representing a year-on-year increase of 23.82% compared to CNY 4,503,335,578.59 in 2016[22]. - The net profit attributable to shareholders for 2017 was CNY 968,529,145.99, which is a 30.80% increase from CNY 740,477,031.05 in 2016[22]. - The basic earnings per share for 2017 was CNY 0.70, reflecting a 22.81% increase from CNY 0.57 in 2016[23]. - The total assets at the end of 2017 amounted to CNY 8,642,081,293.21, a 26.94% increase from CNY 6,807,863,429.79 in 2016[22]. - The company's net assets attributable to shareholders increased by 62.84% to CNY 6,466,869,833.69 at the end of 2017 from CNY 3,971,306,466.70 in 2016[22]. - The cash flow from operating activities for 2017 was CNY 594,063,084.37, showing a decrease of 54.58% compared to CNY 1,307,847,072.10 in 2016[22]. - The company reported a total of CNY 1,567,230,553.70 in revenue for the fourth quarter of 2017[26]. - In 2017, the company achieved total revenue of CNY 5.576 billion, with a net profit attributable to shareholders of CNY 969 million, representing a 30.80% increase year-over-year[55]. - The company reported a net profit excluding non-recurring items of CNY 981 million, up 31.70% from the previous year, and earnings per share of CNY 0.70, an increase of 22.81%[55]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 2 RMB per 10 shares, totaling 296,902,213.20 RMB based on a total share capital of 1,484,511,066 shares[5]. - The company does not plan to issue new shares or increase capital reserves during this profit distribution[5]. - The company has a cash dividend policy in place to protect the rights of minority investors, which was strictly followed during the reporting period[163]. - The company reported a net profit attributable to ordinary shareholders of 968,529,145.99 RMB for 2017, with a dividend payout ratio of 30.65%[166]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The company is committed to ensuring the accuracy and completeness of its financial reports[5]. - The company has not violated decision-making procedures in providing guarantees[7]. - The company has not reported any significant changes in shareholder structure or stock variations[9]. - The company has no significant litigation or arbitration matters reported for the current year[183]. - The company has not faced any risks of suspension or termination of listing during the reporting period[181]. Risks and Future Outlook - The company has outlined potential risks in its future development strategies, which are detailed in the operational discussion section[7]. - The company emphasizes the uncertainty of forward-looking statements regarding future plans and strategies, highlighting investment risks[6]. - The company is facing potential risks from changes in industrial and environmental policies, which could impact its operations[158]. - The company acknowledges the cyclical nature of the chemical industry, which is closely tied to national economic performance, and is preparing for potential downturns[159]. Investments and Acquisitions - The company acquired 100% equity of Longjing Zhongji Photovoltaic Power Station and 50% equity of Pansheng Chemical during the reporting period[34]. - The company completed the acquisition of a 50% stake in Fan Cheng Chemical and a 98.2838% stake in Jia Hua New Materials, enhancing its chlor-alkali balance and the development of the sulfonated pharmaceutical industry chain[62][64]. - The company invested CNY 285.1 million to acquire Jia Hua New Materials, which will support the production of high-value-added products in the sulfonated pharmaceutical series[64]. - The company plans to acquire 100% equity of Zhejiang Meifu Petrochemical Co., Ltd. through a cash transaction, pending shareholder approval[129]. - The company is actively pursuing mergers and acquisitions to enhance its market position and product offerings[129]. Research and Development - The company has applied for over 30 patents, with more than 10 granted, ensuring a technological edge in its core industries[49]. - The company’s research and development expenditure increased by 55.33% to CNY 200 million, indicating a strong commitment to innovation[69]. - The number of R&D personnel was 220, accounting for 17.19% of the total workforce[84]. - The company is committed to increasing R&D investment to accelerate technological innovation and maintain its competitive edge[153]. Market and Industry Trends - The chemical industry is experiencing a positive market trend, with increased product prices and improved overall profitability[38]. - The chlor-alkali industry in China saw a production capacity of 41.02 million tons in 2017, with a net increase of 1.57 million tons compared to the end of 2016[92]. - The domestic sulfuric acid market experienced a significant price increase in 2017, particularly in Q4, driven by strong raw material prices[98]. - The company is the largest supplier of sulfonated pharmaceutical products in China, with exports primarily to the EU, India, the US, Brazil, and Japan[145]. - The company anticipates continued growth in the caustic soda export market, particularly to Europe, India, Australia, and Southeast Asia[142]. Operational Efficiency and Cost Management - The company has implemented advanced technologies to reduce energy consumption and production costs, including zero-distance energy-saving technology and advanced flue gas treatment methods, enhancing overall operational efficiency[47]. - The company is committed to reducing costs and enhancing efficiency to counteract the adverse effects of raw material price volatility[160]. - The company reported a cash flow from operating activities decreased by 54.58% to 594,063,084.37 compared to the previous year[86]. - The company’s investment activities generated a net cash outflow of CNY 625 million, a 21.77% improvement compared to the previous year[69]. Environmental and Safety Initiatives - The company invested CNY 285 million in safety management and over CNY 100 million in environmental protection projects during 2017[66]. - The company has established a robust safety management system, significantly reducing the likelihood of safety incidents during production[156]. - The company is committed to sustainable development and environmental responsibility while pursuing its dual main business strategy in energy and chemicals[149]. Financial Management - The company has invested RMB 500 million in bank wealth management products, with no overdue amounts reported[195]. - The company has a total of RMB 276 million in entrusted wealth management with a 3.9% annualized return, which has been fully recovered[197]. - The company has disclosed various financial instruments and investment strategies, including structured interest rate swaps and market instruments[198]. - The company has maintained a strong focus on optimizing its financial strategies to enhance overall profitability and operational efficiency[192].

Financial Performance - Operating revenue for the first nine months reached CNY 4,008,775,525.61, a 32.20% increase year-on-year[6] - Net profit attributable to shareholders increased by 27.16% to CNY 681,919,068.05 for the first nine months[6] - Basic and diluted earnings per share rose by 24.39% to CNY 0.51[7] - Total operating revenue for Q3 2017 reached ¥1,345,241,754.79, a 32.4% increase from ¥1,015,346,784.94 in Q3 2016[28] - Net profit for Q3 2017 was ¥223,760,577.05, representing a 56.2% increase compared to ¥143,366,057.29 in Q3 2016[29] - The company reported a total profit of ¥266,245,105.30 for Q3 2017, up from ¥173,516,003.17 in Q3 2016, indicating a 53.3% increase[29] - Operating profit for the first nine months of 2017 was ¥937,176,085.33, up 73.9% from ¥538,664,554.30 in the same period last year[34] - Net profit for the first nine months of 2017 was ¥822,425,869.82, representing a 79.8% increase from ¥457,466,069.01 in the previous year[34] Assets and Liabilities - Total assets increased by 19.99% to CNY 8,168,976,585.06 compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 56.55% to CNY 6,216,891,720.99 compared to the end of the previous year[6] - Total current assets increased to ¥2,967,262,968.07 from ¥1,927,250,169.11, representing a growth of approximately 54%[21] - Total non-current assets grew to ¥5,201,713,616.99 from ¥4,880,613,260.68, reflecting an increase of about 7%[22] - Total liabilities decreased to ¥1,934,391,948.64 from ¥2,827,356,667.38, a reduction of approximately 32%[23] - Total equity increased significantly to ¥6,234,584,636.42 from ¥3,980,506,762.41, representing an increase of about 56%[23] Cash Flow - Net cash flow from operating activities decreased by 74.35% to CNY 108,819,403.09 compared to the same period last year[6] - Cash flow from operating activities for the first nine months of 2017 was ¥108,819,403.09, down 74.3% from ¥424,168,481.58 in the same period last year[39] - The company incurred a net cash outflow from investing activities of ¥983,797,880.76, compared to a net outflow of ¥442,596,359.62 in the previous year[39] - Total cash inflow from financing activities was ¥3,676,230,083.04, slightly up from ¥3,578,568,800.08 in the same period last year[39] - Cash inflow from financing activities totaled ¥4,923,850,646.90, up from ¥3,582,883,487.32 year-over-year[42] Shareholder Information - The total number of shareholders reached 40,491 by the end of the reporting period[10] - The largest shareholder, Zhejiang Jiahua Group, holds 40.19% of the shares, with 600,389,604 shares[10] - The company completed a non-public offering of 187,708,351 shares in July 2017[7] - The company completed a non-public offering of A shares, raising a total of RMB 1,798,246,002.58 by issuing 187,708,351 shares, which was finalized on July 6, 2017[15] - The company plans to repurchase shares with a total fund not less than RMB 50 million and not exceeding RMB 500 million, with an expected repurchase of at least 4.55 million shares, representing 0.30% of the total share capital[16] Investments and Expenses - The company’s investment income turned negative, reporting a loss of RMB 3,917,709.14, compared to a profit of RMB 3,248,634.84 in the same period of 2016, due to the recognition of investment losses from forward foreign exchange contracts[14] - The company’s cash flow from investing activities showed a net outflow of RMB 983,797,880.76, compared to a net outflow of RMB 442,596,359.62 in the same period of 2016, primarily due to investments in wealth management products[14] - The company’s financial expenses decreased by 81.55% to RMB 9,854,717.01 from RMB 53,401,826.35, mainly due to reduced foreign exchange losses[14] - The company’s financial expenses showed a significant decrease, reporting a net income of -¥6,094,703.34 in Q3 2017 compared to ¥12,715,764.95 in Q3 2016[33] Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[34]