Environmental Performance - The company achieved a daily average emission concentration of 11.2 mg/Nm³ for sulfur dioxide, 35.7 mg/Nm³ for nitrogen oxides, and 2.4 mg/Nm³ for particulate matter, meeting the ultra-low emission standards[5] - The sodium industry company produced 430.9 tons of chromium-containing waste salt mud in 2022, with no exceedance of standards[6] - The thermal power workshop of the sodium industry company had a permitted emission of 63.91 tons/year for sulfur dioxide, 130.81 tons/year for nitrogen oxides, and 40.57 tons/year for particulate matter, with no exceedance of standards[7] - The chlorine-alkali company reported a permitted emission of 4,513.3 tons/year for sulfur dioxide, 1,468.88 tons/year for nitrogen oxides, and 1,320.4 tons/year for particulate matter, with daily average emissions of 19.38 mg/Nm³ for sulfur dioxide, 37.09 mg/Nm³ for nitrogen oxides, and 1.71 mg/Nm³ for particulate matter in 2022[10] - The company invested 21,256.41 million yuan in environmental protection during the reporting period[22] Financial Performance - The company achieved a net profit of 2,378,297,903.23 yuan in 2022, with a net profit attributable to shareholders of 1,863,927,317.64 yuan, resulting in earnings per share of 1.907 yuan[25] - The proposed cash dividend for 2022 is 4.94 yuan per 10 shares, totaling 559,592,146.75 yuan, representing a cash dividend payout ratio of 30.02%[25] - The company achieved operating revenue of CNY 18.16 billion in 2022, an increase of 35.41% compared to the previous year[77] - The net profit attributable to shareholders reached CNY 1.86 billion, up 26.20% year-on-year[77] - The net cash flow from operating activities was CNY 1.72 billion, a decrease of 46.51% compared to the previous year[77] - Total assets at the end of 2022 amounted to CNY 19.91 billion, reflecting a 17.80% increase from the end of 2021[77] Corporate Governance - The company maintained effective internal control over financial reporting as per the audit opinion issued by the accounting firm[11] - The company established a governance special working group to address 119 issues related to corporate governance from December 2020 to December 2022[12] - The company has established a governance structure with clear responsibilities and decision-making processes, enhancing operational efficiency and protecting investor rights[20] - The company has a total of 8 board members, which is below the required 9, and plans to complete the nomination and election of board candidates promptly[16] - The company has implemented a revised management contract system for its executive team, enhancing performance evaluation and incentive mechanisms[38] - The company has a commitment to enhancing the role of independent directors in decision-making processes, improving decision quality and risk prevention[42] Investor Relations - The company received over 100 investor visits and meetings in 2022, actively engaging with investors through various communication channels[19] - The company organized over 50 investor roadshows following the approval of its non-public offering by the CSRC, facilitating direct communication with investors[19] - The company emphasizes the importance of investor relations management and has taken steps to improve communication and training for its board and management personnel[17] - The company has maintained its corporate website and contact information for investor relations, ensuring transparency and accessibility[32] Research and Development - The company established a PVC key laboratory and a polymer materials engineering R&D center to enhance technological content and extend the industrial chain[91] - During the reporting period, the company received 40 patent applications and 38 authorized patents, along with special funding of 5 million yuan from Alashan League[91] - Research and development expenses rose by 52.44% year-on-year, driven by increased investment in quality improvement, energy conservation, and emissions reduction initiatives[114] - Total R&D investment accounted for 2.45% of operating revenue, with no capitalized R&D expenditures reported[148] Production and Sales - The company produced 416.5 thousand tons of soda ash, completing 109.03% of its annual production plan[87] - The sales volume of soda ash reached 436.41 thousand tons, achieving 112.82% of the annual sales target[87] - The production of polyvinyl chloride (PVC) was 419.8 thousand tons, fulfilling 104.95% of the annual plan[87] - The company produced 7.146 million bottles, achieving 101.58% of the annual plan, and sold 7.2492 million bottles, completing 96.66% of the annual plan[88] - The production of Cistanche Deserticola Granules was 2.3216 million boxes, reaching 55.94% of the annual plan, while sales were 2.8005 million boxes, completing 70.01% of the annual plan[88] Strategic Goals - The company aims to build a world-class chemical enterprise through continuous innovation and operational excellence[86] - The company plans to enhance operational efficiency through water and energy conservation, aiming to become a high-tech enterprise with significant technological advancements[122] - The company aims to optimize its business model and enhance its competitive edge by focusing on technological innovation and industry chain integration[124] - The company plans to focus on expanding market channels in grassroots health institutions and outpatient channels for the Cistanche deserticola kidney granules due to challenges in hospital development[199]

Financial Performance - The company's operating revenue for Q3 2022 was CNY 4,201,277,638.58, representing a year-on-year increase of 23.59%[7] - The net profit attributable to shareholders for Q3 2022 was CNY 367,077,403.68, a decrease of 15.89% compared to the same period last year[7] - The basic earnings per share for Q3 2022 was CNY 0.3780, down 17.05% year-on-year[9] - The company experienced a 54.99% increase in operating revenue year-to-date, driven by higher sales volumes and prices of soda ash and caustic soda[16] - Total operating revenue for the first three quarters of 2022 reached ¥14,136,761,160.61, a significant increase from ¥9,121,332,823.29 in the same period of 2021, representing a growth of approximately 55.5%[40] - The company's net profit attributable to shareholders increased to ¥3,929,561,281.87 from ¥2,624,071,991.64, reflecting a growth of approximately 49.8%[40] - Net profit for the period reached CNY 2,172,463,162.83, an increase of 55.4% compared to CNY 1,399,463,475.39 in the previous year[43] - Total profit for the period was CNY 2,848,969,971.31, compared to CNY 1,690,164,903.46, marking a growth of 68.5%[43] Assets and Liabilities - The total assets at the end of the reporting period were CNY 17,435,861,979.34, an increase of 3.14% from the end of the previous year[9] - The total assets of the company as of September 30, 2022, were ¥17,435,861,979.34, compared to ¥16,904,783,195.00 at the end of 2021, an increase of about 3.1%[40] - The total liabilities decreased to ¥7,539,980,665.51 from ¥8,602,884,543.11, indicating a reduction of approximately 12.4%[40] - The total liabilities increased to CNY 4,132,497,220.54 from CNY 3,573,802,002.45, indicating a rise of approximately 15.6%[55] - Total liabilities reached approximately $3.57 billion, with current liabilities at $3.32 billion and non-current liabilities at $253.42 million[78] Cash Flow - The company's cash flow from operating activities for the year-to-date was CNY 1,480,335,917.06, reflecting a decrease of 51.68% compared to the same period last year[9] - Cash received from operating activities totaled CNY 8,839,442,565.99, an increase from CNY 7,174,020,243.01 in the previous year[48] - The net cash flow from operating activities for the first three quarters of 2022 was CNY 829,180,635.74, a decrease from CNY 2,323,648,157.57 in the same period of 2021[62] - The company's cash and cash equivalents at the end of the period totaled CNY 478,967,490.26, down from CNY 575,757,383.81 at the end of the previous period[50] Shareholder Information - The total number of common shareholders at the end of the reporting period is 63,443[19] - The largest shareholder, China Salt Jilantai Salt Chemical Group Co., Ltd., holds 515,215,528 shares, representing 53.05% of the total shares[19] - The second-largest shareholder, China Construction Bank Co., Ltd. - Zhejiang Merchants Fengli Enhanced Bond Securities Investment Fund, holds 12,000,000 shares, accounting for 1.24%[19] - The total number of shares held by the top ten shareholders includes significant stakes from various investment funds, with the top four shareholders holding a combined total of 543,215,528 shares[19] Research and Development - Research and development expenses for Q3 2022 increased by 90.66% due to heightened investment in R&D activities[18] - Research and development expenses for the first three quarters of 2022 were ¥313,606,923.47, up from ¥164,488,368.18 in 2021, representing an increase of about 90.5%[40] - The company's R&D expenses for the first three quarters of 2022 were CNY 392,562.75, reflecting ongoing investment in innovation[55] Investment Activities - The company reported a significant investment loss of CNY 25,101,464.26, contrasting with a gain of CNY 44,105,769.44 in the previous year[43] - The company has initiated a non-public offering of shares, which was approved by the China Securities Regulatory Commission on July 25, 2022, and is currently progressing steadily[27] Other Financial Metrics - The weighted average return on equity decreased by 32.50 percentage points to 4.13% in Q3 2022[9] - The company recorded a net loss from asset impairment of CNY 657.16 million, primarily due to technical upgrades at the chlor-alkali plant[18] - The company's retained earnings showed a decline, with a reported figure of CNY -45,190,355.57 compared to CNY 200,905,440.18 in the previous period, reflecting challenges in profitability[55] - The company reported interest expenses of CNY 7,653,518.38 for the current period, down from CNY 7,885,025.41 in the previous period[61]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥9,935,483,522.03, representing a 73.28% increase compared to ¥5,733,819,627.79 in the same period last year[19]. - Net profit attributable to shareholders of the listed company was ¥1,396,459,062.97, an increase of 81.22% from ¥770,573,799.52 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥1,401,440,668.56, reflecting an 87.55% increase compared to ¥747,217,927.23 in the previous year[19]. - The net cash flow from operating activities was ¥1,244,247,886.27, which is a 22.60% increase from ¥1,014,923,205.46 in the same period last year[19]. - As of the end of the reporting period, the net assets attributable to shareholders of the listed company were ¥8,691,601,936.91, a 12.41% increase from ¥7,731,831,843.50 at the end of the previous year[19]. - Total assets amounted to ¥17,598,260,630.70, showing a 4.10% increase from ¥16,904,783,195.00 at the end of the previous year[19]. - Basic earnings per share for the reporting period (January to June) reached 1.4582 CNY, an increase of 81.57% compared to the same period last year[20]. - Diluted earnings per share for the reporting period also stood at 1.4582 CNY, reflecting the same growth of 81.57% year-on-year[20]. - The basic earnings per share after deducting non-recurring gains and losses was 1.4634 CNY, up 87.93% from 0.7787 CNY in the previous year[23]. - The weighted average return on equity increased to 16.70%, up 5.46 percentage points from 11.24% in the same period last year[23]. Production Capacity and Operations - The company has a sodium metal production capacity of 65,000 tons, accounting for 32% of the global capacity of 203,500 tons[30]. - The company’s soda ash production capacity is 3.9 million tons, making it the largest soda ash producer in China[31]. - The company’s PVC production capacity is 400,000 tons, which is considered medium-sized within the industry[32]. - The company’s caustic soda production capacity is 360,000 tons, with demand primarily from the aluminum oxide and chemical industries[32]. - The company produced 200.03 million tons of soda ash, completing 52.36% of the annual plan, and sold 239.38 million tons, achieving 61.88% of the annual plan[42]. - Chloride ammonium production was 424.6 thousand tons, completing 66.89% of the annual plan, with sales reaching 433.1 thousand tons, achieving 70.36% of the annual plan[42]. Environmental Management and Compliance - The company emphasizes safety and environmental protection, implementing comprehensive safety management and ecological governance measures[43]. - The company achieved a 100% compliance rate for major pollution sources such as wastewater and waste gas, with online monitoring completion and data disclosure rates also at 100%[45]. - The company has established an environmental protection emergency organization and a leadership group for emergency response to environmental incidents[87]. - The company has implemented a series of environmental protection measures, including the installation of 5 sets of flue gas desulfurization devices and 5 sets of low-nitrogen combustion + SCR denitrification devices, achieving continuous compliance with national emission standards[126]. - The company has established a comprehensive monitoring system for both organized and unorganized emissions, ensuring compliance with environmental standards[149]. - The company has successfully implemented a zero discharge wastewater treatment system in its production processes[163]. - The company has completed several environmental projects, including deep treatment technology for mercury-containing wastewater and a mother liquor water recovery project, which are now operational[125]. Risk Management and Strategic Development - The company has outlined potential risks in its report, advising investors to be cautious[8]. - The company faces risks related to national industrial policies, raw material price fluctuations, and environmental protection regulations[86]. - The company is actively optimizing its supply chain management to mitigate the impact of rising raw material prices, focusing on quality and cost reduction[46]. - The company is advancing its "14th Five-Year" plan, which outlines strategic directions and business structures for future development[45]. - The company is focusing on technological advancements and innovation to improve environmental management and pollution control[87]. Corporate Governance and Shareholder Relations - The company did not distribute profits or increase capital reserves during the reporting period[6]. - The company did not propose any profit distribution or capital reserve increase for the half-year report, with no dividends or stock bonuses planned[100]. - The company held its annual general meeting on May 13, 2022, with 21 shareholders present, representing 572,041,281 voting shares, accounting for 59.73% of the total voting shares[93]. - The company has implemented a stock incentive plan for 2021, which has received approval from the State-owned Assets Supervision and Administration Commission[100]. - The company has made changes to its board of directors, with all 8 current directors attending the meeting[94]. Community Engagement and Social Responsibility - The company has donated 1.65 million yuan to the China Volunteer Foundation and purchased 30,000 yuan worth of agricultural products to support local communities[171].

Financial Performance - The company reported a net profit of RMB 1,742,284,515.23 for the year 2021, with a net profit attributable to shareholders of RMB 1,476,906,871.09, resulting in earnings per share of RMB 1.542[4]. - The total distributable profit at the end of the year was RMB 2,624,071,991.64, with a proposed cash dividend of RMB 4.7 per 10 shares, totaling RMB 450,102,358.24, representing a cash dividend payout ratio of 30.48%[4]. - The company's operating revenue for 2021 was approximately ¥13.41 billion, a 37.54% increase compared to ¥9.75 billion in 2020[20]. - Net profit attributable to shareholders for 2021 reached approximately ¥1.48 billion, reflecting a significant growth of 166.61% from ¥553.96 million in 2020[20]. - The net cash flow from operating activities for 2021 was approximately ¥3.22 billion, a 95.42% increase from ¥1.65 billion in 2020[23]. - The total assets at the end of 2021 amounted to approximately ¥16.90 billion, representing a 26.26% increase from ¥13.39 billion at the end of 2020[23]. - Basic earnings per share for 2021 were ¥1.5422, up 155.33% from ¥0.604 in 2020[23]. - The weighted average return on equity for 2021 was 20.82%, an increase of 11.77 percentage points compared to 9.05% in 2020[23]. Risk Management - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[6]. - There are no significant risks related to the provision of guarantees outside the prescribed decision-making procedures[6]. - The company has outlined potential risks in its future development discussions, which are detailed in the report[6]. - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements in the report[6]. - The company has established a comprehensive compliance risk management system, ensuring no major risk events occurred during the year[41]. Operational Efficiency - The company achieved significant technological innovation, with a total of 215 authorized patents, including 1 invention patent and 11 utility model patents in the year[41]. - The company’s overall efficiency improved due to optimized production organization and capacity release[35]. - The company is focusing on optimizing production processes and enhancing automation to address production stability challenges[49]. - The company is actively addressing energy consumption issues, implementing a special plan for energy conservation and carbon reduction[47]. Market Position and Strategy - The company holds a leading position in the global sodium metal market with a production capacity of 65,000 tons, accounting for 36.4% of global capacity, and produced 817.118 tons in 2021[56]. - The company is the largest producer of soda ash in China with a production capacity of 3.8 million tons, serving various industries such as glass and pharmaceuticals[57]. - The company plans to enhance its market presence by expanding its operations across multiple provinces, aiming to establish itself as a leading circular economy salt chemical base in Western China[62]. - The company is committed to improving employee capabilities through a refined incentive mechanism and optimizing human resource allocation[53]. Research and Development - The company’s research and development expenses increased by 138.71% year-on-year, amounting to approximately CNY 291.92 million, indicating a strong focus on innovation[68]. - The total R&D expenditure amounted to 291,920,890.91 CNY, representing 2.18% of total operating income, with a significant increase of 138.71% compared to the previous year[90]. - The company reported a significant increase of 817.51% in R&D investment for the "Compound Licorice Tablets" project, totaling CNY 569.59 million[132]. - The company has 533 R&D personnel, accounting for 6.1% of the total workforce, indicating a strong commitment to innovation and technology development[91]. Acquisitions and Investments - The company completed the acquisition of 100% equity in Qinghai Faitou Soda Industry, enhancing its market position[36]. - The company completed non-public stock issuance plans to raise up to 2.8 billion yuan for acquiring 100% equity of Faitou Chemical[46]. - The company completed the acquisition of 100% equity in the Faitou Chemical Industry for a base price of 283,000 million RMB, finalizing the transaction on September 3, 2021[177]. Production and Sales - PVC production reached 420,000 tons, completing 102.45% of the annual plan, with sales of 422,000 tons, achieving 102.93% of the plan[35]. - Soda ash production was 3.1129 million tons, completing 126.43% of the annual plan, with sales of 2.8266 million tons, achieving 114.80% of the plan[35]. - The company produced 557.43 million bottles of compound licorice tablets, completing 79.63% of the annual plan, with sales of 778.67 million bottles, achieving 111.24% of the plan[35]. Financial Management - The financial expenses decreased by 28.13% year-on-year, amounting to approximately CNY 153.39 million, due to increased operational cash flow allowing for debt repayment[69]. - The company reported a significant increase in investment cash outflow by 20,641.52% year-on-year, primarily due to payments related to the acquisition of the alkali business[71]. - The financing cash outflow decreased by 67.29% year-on-year, mainly due to reduced loan repayments compared to the previous year[71]. Compliance and Governance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[4]. - The audit report for 2021 was issued by Tianzhi International Accounting Firm, confirming a standard unqualified opinion[4]. - The company achieved a 100% review rate for major decisions, basic systems, and economic contracts, enhancing its legal compliance capabilities[41]. Industry Trends - The domestic industrial salt market is experiencing tight supply and rising prices due to reduced production and increased costs, impacting the company's operational pressures[54]. - The pharmaceutical industry in China is experiencing good development, supported by government initiatives and increasing market demand driven by an aging population and improved consumer spending[200].

Financial Performance - The company's operating revenue for Q1 2022 reached ¥4,412,308,306.21, representing an increase of 86.57% year-on-year[4] - Net profit attributable to shareholders was ¥615,987,261.45, marking a year-on-year increase of 141.48%[4] - Basic earnings per share were ¥0.6432, which is an increase of 141.45% year-on-year[4] - Operating profit for Q1 2022 was ¥907,439,602.57, compared to ¥340,580,774.49 in Q1 2021, indicating a growth of 166.5%[37] - The net profit for the first quarter of 2022 was approximately ¥720.88 million, a significant increase of 161.5% compared to ¥275.12 million in the same period of 2021[38] - The total comprehensive income for the first quarter was ¥720.88 million, which includes a net profit attributable to shareholders of the parent company of ¥615.99 million[38] Cash Flow - The net cash flow from operating activities was ¥1,038,514,813.28, reflecting a growth of 43.08% compared to the same period last year[4] - The net cash flow from operating activities was ¥583,852,721.95, a significant increase from ¥273,894,775.40 in Q1 2021, representing a growth of approximately 113%[57] - Total cash inflow from operating activities reached ¥1,808,263,363.80, compared to ¥1,143,932,839.63 in the same period last year, indicating a year-over-year increase of about 58%[57] - The cash outflow from operating activities was ¥1,224,410,641.85, up from ¥870,038,064.23 in Q1 2021, reflecting a rise of approximately 41%[57] - The company reported a net cash outflow from investing activities of approximately ¥10.09 million, compared to a net outflow of ¥11.04 million in the first quarter of 2021[45] - The net cash flow from investment activities was ¥16,853,068.29, a turnaround from a negative cash flow of ¥8,130,839.52 in Q1 2021[57] - The net cash flow from financing activities was negative at ¥199,700,375.70, compared to a much smaller negative cash flow of ¥44,375.00 in Q1 2021[59] Assets and Liabilities - Total assets at the end of Q1 2022 amounted to ¥17,557,536,917.52, up 3.86% from the end of the previous year[7] - Current liabilities increased to ¥7,437,242,198.18 in Q1 2022 from ¥7,127,509,281.93 in Q1 2021, reflecting a rise of 4.3%[33] - The total liabilities rose to ¥4,022,483,240.02 in Q1 2022, compared to ¥3,573,802,002.45 in Q1 2021, marking an increase of about 12.5%[50] - The company's total revenue for Q1 2022 was ¥922,443,200.23, a significant increase from ¥297,041,547.78 in Q1 2021, representing a growth of approximately 210%[50] Shareholder Information - The total number of common shareholders at the end of the reporting period was 72,010[15] - The largest shareholder, China Salt Jilantai Salt Chemical Group Co., Ltd., holds 516,982,128 shares, accounting for 53.98% of the total shares[15] - The equity attributable to shareholders increased by 7.23% to ¥8,290,952,209.91 compared to the end of the previous year[7] Research and Development - Research and development expenses surged by 686.45% in the current period, indicating increased investment in innovation[14] - Research and development expenses for Q1 2022 were ¥13,597,897.22, significantly higher than ¥1,729,032.37 in Q1 2021, marking an increase of 688.5%[37] - Research and development expenses were not explicitly reported, but the company indicated a focus on innovation and product development in future strategies[54] Inventory and Accounts Receivable - The company has a total of 1,184,100,521.19 in inventory as of March 31, 2022, down from 1,486,376,736.84 at the end of 2021[27] - Accounts receivable decreased to ¥164.38 million from ¥199.65 million year-over-year[27] - The accounts receivable rose to ¥68.82 million, compared to ¥44.61 million in the previous year, reflecting a growth of 54.2%[45] Future Plans - The company has ongoing projects, including a contract to supply 1,667 tons of liquid sodium to China Nuclear Power, with a delivery deadline of November 2024[26] - The company is progressing with a non-public stock issuance plan approved by the board, with regulatory compliance ongoing[23] - The company plans to expand its market presence and explore potential mergers and acquisitions as part of its growth strategy moving forward[54]

Financial Performance - The company's operating revenue for Q3 2021 reached ¥3,399,438,180.53, representing a year-on-year increase of 38.84%[5] - Net profit attributable to shareholders was ¥436,408,040.03, a significant increase of 164.58% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥435,549,125.32, reflecting a year-on-year growth of 171.23%[5] - The basic earnings per share for the quarter was ¥0.4557, up 207.08% year-on-year[9] - Total operating revenue for the first three quarters of 2021 reached ¥9,121,332,823.29, a significant increase from ¥6,331,379,051.19 in the same period of 2020, representing an increase of approximately 44.5%[46] - Net profit for the third quarter of 2021 was ¥1,399,463,475.39, compared to ¥314,035,186.81 in the third quarter of 2020, marking an increase of about 345.5%[46] - Operating profit for the third quarter of 2021 was ¥1,695,112,129.73, up from ¥372,856,715.98 in the previous year, indicating a growth of approximately 354.5%[46] - The company reported a total comprehensive income of ¥1,399,463,475.39 for the third quarter of 2021, compared to ¥314,035,186.81 in the previous year, marking an increase of about 345.5%[48] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥17,204,153,945.09, an increase of 28.50% from the end of the previous year[9] - As of September 30, 2021, the company's total assets reached approximately 17.20 billion RMB, an increase from 13.39 billion RMB at the end of 2020, reflecting a growth of about 28%[40] - The company reported a total asset value of ¥13,388,895,102.71 as of the end of the reporting period, slightly down from ¥13,457,276,550.78 at the end of the previous year[56] - Total liabilities increased to ¥9,203,777,775.30 in 2021 from ¥6,422,390,430.77 in 2020, representing a rise of approximately 43.8%[46] - The total liabilities amounted to ¥10,629,839,830.77, reflecting a decrease from ¥10,698,221,278.84 in the previous year[56] - The company’s total liabilities amounted to approximately CNY 6.42 billion, with current liabilities at CNY 5.63 billion and non-current liabilities at CNY 787.66 million[59] Cash Flow - Cash flow from operating activities for the year-to-date was ¥3,063,702,203.36, showing a substantial increase of 187.82% year-on-year[5] - The cash inflow from operating activities for the first three quarters of 2021 reached ¥7,174,020,243.01, a significant increase of 68.5% compared to ¥4,266,576,647.84 in the same period of 2020[52] - The net cash flow from operating activities amounted to ¥3,063,702,203.36, up from ¥1,064,445,499.53 in the previous year, representing a growth of 187.5%[52] - The total cash outflow from investing activities was ¥2,671,014,608.75, compared to ¥707,944,901.81 in the same period last year, indicating a substantial increase in investment expenditures[54] - The net cash flow from investing activities was negative at -¥2,655,098,182.40, worsening from -¥362,146,547.90 in the previous year[54] - Cash inflow from financing activities totaled ¥2,451,950,000.00, a decrease from ¥3,337,732,661.47 in the same period last year[54] - The net cash flow from financing activities was -¥39,278,803.71, compared to -¥646,444,016.70 in the previous year, showing an improvement in cash management[54] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 56,969[18] - The largest shareholder, China Salt Jilantai Salt Chemical Group Co., Ltd., holds 55.14% of the shares[18] - The company’s equity structure is being optimized through the planned share reduction by its major shareholder, which will not exceed 1% of the total share capital[32] - The total equity attributable to shareholders reached CNY 6.50 billion, while total equity was CNY 6.97 billion[61] Research and Development - R&D expenses amounted to 2,024.95 million, reflecting increased investment in research and development and team building[16] - The company plans to enhance its R&D capabilities and accelerate innovation in existing products and technologies[16] - Research and development expenses for the third quarter of 2021 totaled ¥164,488,368.18, a substantial increase from ¥7,740,810.78 in the same quarter of 2020, reflecting a growth of around 2015.5%[46] Acquisitions and Investments - The acquisition of the new business contributed positively to the overall financial performance, with significant impacts on various financial metrics[15] - The company completed the acquisition of 100% equity in Hai Investment Alkali Industry for a base price of 2,830 million[28] - The company plans to raise up to 2.8 billion RMB through a non-public offering to acquire 100% equity of a subsidiary, pending approval from the China Securities Regulatory Commission[31] - Investment income was 130.87 million, primarily due to gains from the disposal of Lan Tai Coal Industry[16] Impairment Losses - Asset impairment losses totaled 268.78 million, mainly from the provision for ineffective assets[16] - Credit impairment losses reached 559.89 million, attributed to an increase in receivables[16]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥5,721,894,642.76, representing a 47.36% increase compared to ¥3,882,972,458.19 in the same period last year[21]. - Net profit attributable to shareholders of the listed company was ¥769,136,706.87, a significant increase of 634.76% from ¥104,678,709.98 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥745,780,834.58, up 642.79% from ¥100,402,707.54 year-on-year[21]. - The net cash flow from operating activities was ¥1,014,923,205.46, an increase of 46.32% compared to ¥693,653,786.55 in the same period last year[21]. - The net assets attributable to shareholders of the listed company at the end of the reporting period were ¥7,056,573,150.87, an increase of 8.64% from ¥6,495,404,596.50 at the end of the previous year[21]. - Total assets amounted to ¥14,323,094,845.08, reflecting a 6.98% increase from ¥13,388,895,102.71 at the end of the previous year[21]. - Basic earnings per share for the first half of 2021 were ¥0.8031, a 611.97% increase from ¥0.1128 in the same period last year[23]. - Diluted earnings per share (CNY/share) increased to 0.8031, a 611.97% increase compared to the previous period[26]. - Basic earnings per share excluding non-recurring gains and losses (CNY/share) rose to 0.7787, reflecting a 619.02% increase[26]. Business Operations - The company's main business revenue and net profit attributable to shareholders significantly increased due to strong demand for products like PVC, resin, and soda ash[26]. - The company has expanded production capacity and optimized production organization to enhance profitability and risk resistance amid rising raw material prices[26]. - The company aims to become a leading circular economy salt chemical base in Western China, focusing on clean production and sustainable growth[34]. - The domestic salt industry has over 180 producers with a total capacity of approximately 11.458 million tons, with a projected output of 9.7 million tons[34]. - The company holds a 43.19% share of the domestic metal sodium production capacity, with an average operating rate of 93% in 2021[35]. - The domestic soda ash market has seen prices reach historical highs due to improved downstream demand, with the company's capacity accounting for 7.27% of the national total[36]. - The company achieved a revenue of 5.722 billion yuan, a year-on-year increase of 47.36%, and a net profit of 856 million yuan, up 554.53% year-on-year[46]. - PVC production reached 213,300 tons, completing 52.01% of the annual plan, while sales were 206,600 tons, achieving 50.40% of the annual plan[46]. - The company has a PVC resin capacity of 400,000 tons, which is considered medium-sized in the industry[39]. - The domestic caustic soda production in the first half of 2021 was approximately 1.926 million tons, a year-on-year increase of 10.8%[40]. - The company’s production of caustic soda was 188,000 tons, completing 52.22% of the annual plan, with sales of 181,600 tons, achieving 50.43% of the annual plan[46]. - The company’s production of sodium hydroxide and PVC is integrated, which helps reduce production costs and enhance operational efficiency[44]. - The company’s total capacity for chlorinated ammonium is approximately 1.6 million tons, with a production of 680,000 tons in the first half of 2021, a 4.6% increase year-on-year[40]. - The company’s production of sodium metal reached 29,000 tons, completing 48.31% of the annual plan, with sales of 29,700 tons, achieving 49.58% of the annual plan[46]. - The company has a resource advantage with a total reserve of approximately 200 million tons from its salt lakes, ensuring raw material supply for its salt chemical industry[42]. - The company’s new projects, such as the production of paste resin, have been successfully launched, contributing to the overall revenue growth despite high raw material prices[46]. Environmental Protection - The company achieved an environmental protection equipment operation rate of over 95%, with daily average emissions of waste gas and wastewater meeting national standards[50]. - The company has implemented measures to enhance budget control and reduce operational costs, improving financial management levels[51]. - The company is focusing on technological innovation and management improvements to ensure stable safety and environmental protection operations[58]. - The company aims to enhance its high-quality development level by integrating resources and accelerating reform efforts[59]. - The company has established a project quality control supervision team to oversee construction quality and ensure compliance with engineering standards[50]. - The company achieved a daily average emission concentration of sulfur dioxide at 12.7 mg/Nm3, nitrogen oxides at 337.2 mg/Nm3, and particulate matter at 3.8 mg/Nm3, all meeting the ultra-low emission standards set by GB13223-2011[103]. - The company holds a pollution discharge permit allowing for annual emissions of 31.31 tons of sulfur dioxide, 62.61 tons of nitrogen oxides, and 12.52 tons of particulate matter, with no exceedance of emission limits reported[106]. - The wastewater treatment system reported a daily average pH of 7.36, COD concentration of 55.55 mg/l, and ammonia nitrogen concentration of 1.1 mg/l, all compliant with GB15581-2016 standards[108]. - The company’s thermal power plant operates with a capacity of 2×135MW and has implemented ultra-low emission modifications since December 31, 2017, ensuring compliance with national emission standards[107]. - The company has established a total wastewater discharge outlet with online monitoring equipment to ensure compliance with environmental standards[108]. - The company’s VOCs emissions are primarily from the PVC production process, with regular leak detection and monitoring conducted[108]. - The company has a comprehensive waste management strategy for hazardous waste, including mercury-containing waste, ensuring compliance with relevant disposal standards[108]. - The company’s environmental protection measures include adherence to multiple national standards for air, water, and noise pollution control[108]. - The company achieved a total emission control target of 151.536 tons/year for sulfur dioxide, 253.65 tons/year for nitrogen oxides, and 56.88 tons/year for particulate matter, all meeting the national standards[111]. - Average concentration of flue gas pollutants for the first half of 2021 were 5.26 mg/m³ for sulfur dioxide, 20.17 mg/m³ for nitrogen oxides, and 3.88 mg/m³ for particulate matter, with total emissions of 7.31 tons, 28.06 tons, and 5.40 tons respectively, all within the permitted limits[111]. - The company has installed an online monitoring system for flue gas emissions, ensuring real-time data transmission and compliance with emission standards[114]. - The company has implemented a low-nitrogen combustion technology and SNCR technology, achieving a nitrogen oxide reduction efficiency of over 90%[118]. - The company has constructed a 200 tons/hour SBR wastewater treatment biochemical pool and a 500 tons/hour reclaimed water system, with no production wastewater discharged externally[117]. - The company has completed the ultra-low emission transformation and environmental protection acceptance for its flue gas treatment facilities[117]. - The company has successfully disposed of 108.22 tons of chromium-containing salt mud through a resource recovery project[114]. - The company has achieved a dust removal efficiency of over 99% for its bag filter dust removal facilities[118]. - The company achieved a stable operation of the wastewater resource utilization project, with 1.2 million cubic meters of accident pool and 2.05 million cubic meters of concentrated brine evaporation pool at normal levels[121]. - The environmental impact assessment for the 400,000 tons/year PVC project was completed with a total investment of 6.051 billion yuan, of which approximately 36.957 million yuan was allocated for environmental protection facilities, accounting for 6.11% of the total investment[122]. - The company completed the environmental impact assessment for a new 100,000 tons of caustic soda project and a 220 substation expansion project, receiving approval for the reports[122]. - The company’s wastewater treatment project met the Class A standard for urban sewage treatment plant effluent, ensuring compliance with GB18918-2002 standards[126]. - The company organized emergency drills for environmental incidents, including a liquid ammonia leak drill in 2021, to enhance emergency response capabilities[127]. - The company’s chlor-alkali chemical division completed the second revision of its emergency response plan in 2018, which was approved by experts and filed with the environmental protection department[129]. - The company’s environmental monitoring results showed that noise levels at the factory boundary met the required standards, with daytime noise below 55dB(A) and nighttime below 45dB(A)[126]. - The company’s environmental protection investment for the chlor-alkali chemical project was completed, achieving a 100% execution rate for environmental impact assessments and completion inspections for key pollution enterprises[122]. - The company’s environmental protection measures include real-time monitoring of emissions, with all waste gas and wastewater treatment facilities connected to government monitoring systems[122]. - The company has been recognized as one of the "Top Ten Eco-Friendly Enterprises" in its region for two consecutive years, highlighting its commitment to environmental sustainability[125]. Corporate Governance and Compliance - The company held its first extraordinary shareholders' meeting on January 29, 2021, with 45 shareholders present, representing 67.44% of the voting rights[93]. - The company appointed three new deputy general managers and a new general counsel following the resignation of two executives[96][97]. - The company has established an emergency response organization for environmental protection, enhancing its management and compliance capabilities[92]. - The company has not proposed any profit distribution or capital reserve transfer plans for the current period[98]. - The company has not disclosed any new employee stock ownership plans or other incentive measures[100]. - The company faces risks related to national industrial policies and fluctuations in raw material and energy prices, which could impact operational costs and investment risks[88]. - The company implemented a procurement bidding mechanism to stabilize raw material prices, utilizing internet-based price inquiries to reduce procurement costs[89]. - The company faces increased environmental protection risks due to stricter regulations, which may lead to higher investment in environmental management and impact financial performance[92]. - The company has committed to resolving competition issues with its subsidiaries and ensuring that no new substantial competition arises in the same business areas post-restructuring[164]. - The company guarantees the independence of its listed subsidiary's personnel, assets, finances, and operations, ensuring no interference from the controlling entity[170]. - The company has taken measures to ensure compliance with legal regulations and company articles, promising not to interfere in the management activities of the listed company[176]. - The company confirmed that it has fulfilled its capital contribution obligations to the relevant companies in the target assets, with no violations such as false contributions or withdrawal of capital[180]. - The company has committed to maintaining the independence of the listed company and not using its controlling position to influence transactions with subsidiaries[176]. - The company guarantees the independence of the listed company's assets, ensuring strict separation and independent operation, with no unauthorized use of funds or assets[184]. - The listed company has established an independent financial accounting department, ensuring independent financial decision-making and compliance with tax obligations[184]. - The company will not interfere with the listed company's normal business operations, maintaining the independence of its governance structure and decision-making processes[184]. - The company has committed to not transferring shares of the listed company for 12 months following the completion of the transaction, with additional lock-up periods under certain conditions[186]. - The company has not faced any significant administrative penalties or criminal charges in the last five years, ensuring a clean compliance record[188]. - The company guarantees the accuracy and completeness of the information provided to intermediaries involved in the transaction, accepting legal responsibility for any misleading statements[189]. - The company confirmed that it has no history of insider trading or related investigations by the China Securities Regulatory Commission in the past 36 months[191]. - The company committed to not illegally occupy the target company's funds or require it to bear costs and expenses in the future[194]. - The company will prioritize the shares obtained from this transaction for performance compensation commitments and will not evade compensation obligations through share pledges[197]. - The company has not received any administrative or criminal penalties in the last five years, nor has it been involved in significant civil litigation or arbitration related to economic disputes[197]. - The company has not faced any significant lawsuits, arbitration, or administrative penalties in the past five years, nor is it under investigation by judicial authorities or the China Securities Regulatory Commission[200]. - The company guarantees the authenticity, accuracy, and completeness of the information provided to financial advisors and other professional service intermediaries related to the transaction[200]. - There are no arrangements or commitments to maintain or change control or adjust the main business within sixty months after the completion of the transaction[200]. - The company implemented strict confidentiality measures during the planning of the major asset restructuring, ensuring no insider information was leaked prior to the trading suspension[200].

Financial Performance - The company reported a net profit of RMB 615,174,893.53 for the year 2020, with a net profit attributable to shareholders of RMB 553,964,896.17, resulting in earnings per share of RMB 0.6040[4]. - The company's operating revenue for 2020 was approximately ¥9.75 billion, a decrease of 9.18% compared to ¥10.74 billion in 2019[22]. - Net profit attributable to shareholders for 2020 was approximately ¥554 million, down 38.12% from ¥895 million in 2019[22]. - The basic earnings per share for 2020 was ¥0.6040, a decline of 43.59% from ¥1.0707 in 2019[24]. - The company's total assets at the end of 2020 were approximately ¥13.39 billion, a decrease of 5.95% from ¥14.24 billion at the end of 2019[22]. - The net cash flow from operating activities for 2020 was approximately ¥1.65 billion, an increase of 11.80% from ¥1.47 billion in 2019[22]. - The weighted average return on equity for 2020 was 9.05%, down 6.24 percentage points from 15.29% in 2019[24]. - The company reported a significant impact from the pandemic, particularly in the chemical industry, leading to a decline in product prices and overall profitability[24]. - The net profit attributable to shareholders in Q4 2020 was approximately ¥288 million, showing recovery compared to previous quarters[29]. - The company experienced a notable increase in net profit attributable to shareholders after excluding non-recurring gains, which was approximately ¥538 million in 2020, up 70.81% from ¥315 million in 2019[22]. Dividend and Profit Distribution - The total distributable profit at the end of 2020 was RMB 1,379,299,930.62, with a proposed cash dividend of RMB 2.3 per 10 shares, totaling RMB 220,262,856.16, representing a cash dividend payout ratio of 39.76%[4]. - The company plans not to increase capital reserves through stock conversion this year[5]. Risk Management and Compliance - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The company has not violated decision-making procedures for external guarantees, indicating no significant risks in this area[6]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies, cautioning investors about potential investment risks[5]. - The company has outlined potential risks in its future development discussions, which are detailed in the report[6]. Audit and Financial Disclosure - The company’s financial report received a standard unqualified audit opinion from Tianzhi International Accounting Firm[4]. - The company is committed to ensuring the accuracy and completeness of its financial disclosures, with all board members present at the meeting[4]. Production Capacity and Market Position - The company has a total of 2 billion tons of raw salt reserves, primarily supporting its salt chemical products[35]. - The company holds a 40.5% share of the global sodium metal production capacity, with a total capacity of 65,000 tons[36]. - The domestic sodium chlorate production capacity is approximately 95,000 tons, with the company accounting for 25% of this capacity[38]. - The company’s PVC resin production capacity is 400,000 tons, which is considered medium-sized within the industry[39]. - The company’s pure soda production capacity is 2.4 million tons, representing 7.3% of the domestic capacity[38]. - The company’s operating model emphasizes direct sales for salt and chemical products, with a focus on procurement through bidding and price comparison[35]. - The company aims to establish itself as a leading circular economy salt chemical base in Western China, focusing on environmental protection and energy conservation[35]. Research and Development - The company has obtained 23 new patents during the year, enhancing its technological innovation capabilities and industry leadership[54]. - Research and development expenses increased by 89.89% to CNY 122.29 million, reflecting a focus on core technology and innovation[71]. - The company has ongoing R&D projects, including the consistency evaluation of multiple products such as Gan Cao Pian and Isoniazid tablets, with the latter having passed the evaluation and obtained approval[119][121]. Sales and Marketing Strategies - The company is focusing on optimizing management resources to reduce costs and improve efficiency, aiming for enhanced operational control capabilities[54]. - The company is enhancing its marketing strategies to overcome macroeconomic pressures and ensure stable revenue growth[54]. - The company operates under a multi-channel marketing strategy, including traditional distribution, academic promotion, and e-commerce for health products[104]. Challenges and Market Conditions - The company anticipates challenges in sales performance due to market competition and pricing pressures in the pharmaceutical sector[107]. - The pharmaceutical industry is facing increased regulatory scrutiny, with new laws and standards impacting production and marketing practices[108]. - The company is facing risks related to the consistency evaluation of generic drugs and stricter production requirements under new regulations[108]. Environmental and Safety Measures - The company is actively promoting safety and environmental protection measures, maintaining a stable safety and environmental situation without major incidents[54]. - The company is implementing key technology breakthroughs and innovation projects to improve production stability and efficiency[54].

Financial Performance - The net profit attributable to shareholders for Q1 2021 increased by 315.83% year-on-year, reaching ¥255,089,538.92, primarily due to improved business conditions as the impact of COVID-19 eased and the prices of main products like PVC and soda ash rose[11]. - Operating revenue for Q1 2021 was ¥2,364,906,993.94, representing a year-on-year growth of 22.80% compared to ¥1,925,888,628.79 in the same period last year[11]. - The net profit for Q1 2021 increased by CNY 439,018,365.15, reflecting a significant growth driven by improved product volume and pricing due to the easing of the pandemic[23]. - Basic earnings per share for Q1 2021 were ¥0.2664, a significant increase of 262.94% from ¥0.0734 in the same period last year[11]. - Operating profit for Q1 2021 was ¥340,580,774.49, significantly higher than ¥126,356,211.45 in Q1 2020, indicating a year-over-year increase of 169.5%[44]. - The company reported a net profit margin improvement, with net profit for Q1 2021 showing a substantial increase compared to the previous year[44]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 47.61% year-on-year, amounting to ¥725,808,410.04, up from ¥491,717,532.41[11]. - Cash and cash equivalents at the end of the reporting period amounted to CNY 829,446,574.35, an increase of 40.91% from CNY 588,651,235.89 at the beginning of the year[23]. - The net cash flow from operating activities was 273,894,775.40 RMB, a significant improvement compared to a net outflow of 18,684,998.89 RMB in the same quarter last year[57]. - Cash inflow from operating activities totaled 1,143,932,839.63 RMB, up from 717,714,335.02 RMB year-over-year[57]. - The ending balance of cash and cash equivalents was 479,841,170.37 RMB, up from 97,993,067.33 RMB in the previous year[59]. Assets and Liabilities - The total assets at the end of Q1 2021 were ¥13,771,828,887.00, a 2.86% increase from ¥13,388,895,102.71 at the end of the previous year[11]. - Total current assets increased to ¥3,308,508,324.42 from ¥2,759,055,271.94, representing a growth of approximately 19.9% year-over-year[29]. - Total liabilities increased to ¥6,528,342,036.69 from ¥6,422,390,430.77, representing a growth of about 1.7%[34]. - Current liabilities amounted to ¥5,774,042,129.12, slightly up from ¥5,634,733,404.32, which is an increase of approximately 2.5%[32]. - The company reported a significant reduction in financial expenses, down 31.92% to CNY 35,228,742.57, attributed to a decrease in interest-bearing liabilities[23]. Shareholder Information - The company reported a total of 33,901 shareholders as of the end of the reporting period[18]. - The largest shareholder, Zhongyan Jilantai Salt Chemical Group Co., Ltd., held 56.69% of the shares, amounting to 542,945,300 shares[18]. - Shareholders' equity rose to ¥7,243,486,850.31 from ¥6,966,504,671.94, indicating an increase of approximately 4.0%[34]. Research and Development - The company's research and development expenses decreased by 67.71% to CNY 1,729,032.37 compared to CNY 5,355,074.55 in the same period last year[23]. - Research and development expenses for Q1 2021 were ¥1,729,032.37, down from ¥5,355,074.55 in Q1 2020, indicating a strategic focus on cost management[44]. Future Plans - The company plans to continue focusing on the development of new products and technologies to enhance market expansion and competitiveness[11]. - The company plans to continue focusing on market expansion and product development to sustain growth momentum in the upcoming quarters[22]. - The company plans to expand its market presence and invest in new technologies to drive future growth[44].