Revenue and Profitability - Revenue for Q3 2023 reached ¥787,450,320.27, an increase of 89.09% compared to the same period last year[24] - Net profit attributable to shareholders for Q3 2023 was -¥2,454,996.77, a decrease of 172.06% year-on-year[24] - The company's operating revenue for the year-to-date period reached 11.24 million, an increase compared to the same period last year, primarily due to higher sales volumes of zinc products and compound fertilizers[25] - The net profit attributable to shareholders for the year-to-date period was -172.06 million, a decrease from the same period last year, mainly due to market fluctuations[25] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date period was -258.41 million, impacted by lower sales prices of phosphate series products and compound fertilizers[25] - Basic and diluted earnings per share for the year-to-date period were both -172.19, reflecting a significant decline[25] - The company reported a basic earnings per share of -¥0.0012 for Q3 2023, compared to -¥0.0340 for the same period last year[24] - Net profit for the third quarter was a loss of CNY 68,967,387.00, compared to a profit of CNY 95,828,621.71 in the same period last year[58] - Operating profit turned negative at CNY -59,221,953.03, down from CNY 90,855,506.16 year-over-year[58] - Basic earnings per share for the third quarter were CNY -0.0340, compared to CNY 0.0471 in the same quarter last year[59] Production and Sales - Zinc product production in Q3 2023 was 15,903.30 tons, up 130.40% year-on-year, while sales volume was 15,709.68 tons, an increase of 118.89%[20] - Total operating revenue for the first three quarters of 2023 reached CNY 2,242,008,975.76, an increase of 11.25% compared to CNY 2,015,551,263.38 in the same period of 2022[41] - Total operating costs for the first three quarters of 2023 were CNY 2,296,191,182.00, up 16.68% from CNY 1,967,583,416.31 in the previous year[41] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was -¥48,038,135.31, a decrease of 118.05% year-on-year[24] - The company reported a net cash flow from operating activities of -118.05 million for the year-to-date period, primarily due to increased cash payments for goods and services[25] - Cash and cash equivalents decreased by 48.50% compared to the end of last year, primarily due to increased cash payments for goods and services[10] - Cash and cash equivalents at the end of Q3 2023 amounted to CNY 167,700,771.58, down from CNY 271,006,037.06 at the end of Q3 2022[47] - The company’s total current assets as of September 30, 2023, were CNY 841,244,149.05, down from CNY 1,070,361,717.32 at the end of 2022[35] - The total assets decreased from CNY 2,349,986,948.39 to CNY 2,047,884,154.46, a decline of approximately 12.9%[54] - Total assets at the end of Q3 2023 were ¥2,047,884,154.46, a decrease of 12.86% from the end of the previous year[18] Liabilities and Equity - The company's total liabilities decreased from CNY 1,936,446,467.89 to CNY 1,700,355,746.34, a reduction of approximately 12.2%[54] - The total equity attributable to shareholders decreased from CNY 413,146,196.50 to CNY 347,102,449.00, a decline of about 16%[54] - The company reported a decrease in accounts payable from CNY 196,266,317.45 to CNY 162,798,116.68, a reduction of approximately 17%[54] Legal and Compliance Issues - The company has ongoing legal disputes with Yunnan Jinding Zinc Industry Co., with a principal amount of 423.43 million and delayed performance fees totaling 189.05 million as of September 30, 2023[29] - The company’s assets, including bank accounts and properties, are subject to freezing due to the ongoing legal case, with a total book value of frozen assets amounting to approximately 45.28 million for fixed assets and 38.73 million for intangible assets[29] - The company is closely monitoring the progress of a legal case that may impact its operations, with potential risks associated with judicial disposal of certain assets[34] Research and Development - Research and development expenses for the year-to-date period decreased by 44.87 million, indicating reduced investment in R&D compared to the previous year[25] - Research and development expenses for the first three quarters of 2023 were CNY 1,492,849.67, a decrease of 44.05% compared to CNY 2,708,056.16 in the same period of 2022[41] Investment Activities - The company reported a net loss from investment activities of CNY 8,292,288.95 in the first three quarters of 2023, compared to a loss of CNY 129,538,950.68 in the same period of 2022[46] - The company’s investment income for the year-to-date period was -100.00 million, a decrease due to the loss of control over a former subsidiary, resulting in a significant drop in recognized investment income[25] Expenses - The company’s sales expenses for the year-to-date period increased to 29.81 million, attributed to higher marketing costs[25] - The company incurred financial expenses of CNY 44,867,210.61 in the first three quarters of 2023, a decrease of 14.23% from CNY 52,334,706.21 in the same period of 2022[41] - The cash paid for purchasing goods and services increased to CNY 1,593,691,147.47 from CNY 1,380,549,577.52, an increase of about 15.4%[60] Other Comprehensive Income - The company recorded other comprehensive income after tax of CNY 55,055.53, down from CNY 186,010.88 year-over-year[59] - Non-recurring gains and losses for Q3 2023 totaled ¥600,075.38, with a year-to-date total of ¥4,652,167.31[9]

证券代码：600331 证券简称：宏达股份 公告编号：临 2023-038 四川宏达股份有限公司 关于控股股东重整进展暨第一次债权人会议表决结果的 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法律责任。 一、控股股东的重整事项概述 2023年5月8日，四川宏达股份有限公司（以下简称"公司"）控股股东四川 宏达实业有限公司（以下简称"宏达实业"）因不能清偿到期债务，被长城华西 银行股份有限公司成都分行向什邡市人民法院申请重整。2023年6月9日，法院裁 定受理申请人长城华西银行股份有限公司成都分行对被申请人宏达实业的重整 申请。2023年6月28日，法院指定管理人，具体负责开展各项重整工作。2023年 10月10日，宏达实业重整案第一次债权人会议以现场会议与网络会议直播的形式 同步召开，并通过网络会议平台投票表决《四川宏达实业有限公司财产管理方案》， 本次债权人会议当日未形成决议，表决期限截至2023年10月13日。 川宏达实业有限公司财产管理方案》的债权人共12家，占出席本次会议的有表决 权债权人数的100%，其所代表的债权金 ...

公司控股股东四川宏达实业有限公司（以下简称"宏达实业"）重整案第 一次债权人会议于 2023 年 10 月 10 日召开。本次债权人会议不涉及重整的具体 计划和方案，宏达实业重整能否成功尚存在不确定性。宏达实业重整后续处置是 否会引起上市公司控制权的变化及造成其他影响尚存在不确定性。 敬请广大投资者关注相关风险，理性决策，审慎投资。 一、股票交易异常波动的具体情况 2023 年 9 月 28 日、10 月 9 日和 10 月 10 日公司股票连续 3 个交易日内日收 盘价格涨幅偏离值累计达到 20%,根据《上海证券交易所交易规则》的有关规定， 属于股票交易异常波动。 证券代码：600331 证券简称：宏达股份 公告编号：临 2023-036 四川宏达股份有限公司 股票交易异常波动公告 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。 重要内容提示： 2023 年 9 月 28 日、10 月 9 日和 10 月 10 日四川宏达股份有限公司（以 下简称 "公司"或"上市公司"）股票连续 3 个交易日内日收盘价格涨幅偏离值 累 ...

证券代码：600331 证券简称：宏达股份 公告编号：临 2023-037 一、控股股东的重整事项概述 四川宏达股份有限公司（以下简称"公司"）控股股东四川宏达实业有限公 司（以下简称"宏达实业"）现持有公司股份536,237,405股，占公司总股本的 26.39%。2023年5月8日，长城华西银行股份有限公司成都分行以宏达实业不能清 偿到期债务且资产明显无法清偿全部到期债务为由向什邡市人民法院申请宏达 实业进行破产重整。2023年5月12日，宏达实业收到《四川省什邡市人民法院通 知书》（2023）川0682破申2号。2023年6月9日，什邡市人民法院作出《民事裁 定书》（2023）川0682破申2号，裁定受理申请人长城华西银行股份有限公司成 都分行对被申请人宏达实业的重整申请。2023年6月28日，什邡市人民法院指定 管理人，具体负责开展各项重整工作。公司分别于2023年5月12日、5月13日和6 月13日披露了《关于控股股东被申请破产的提示性公告》（临2023-023）、《关 于控股股东被申请破产重整的进展公告》（临2023-024）和《关于法院受理申请 人对控股股东重整申请的公告》（临2023-028） ...

四川宏达实业有限公司 关于宏达股份股票交易价格异常波动征询函的回函 四川宏达股份有限公司: 贵公司《关于宏达股份股票交易价格异常波动征询函》已收悉, 针对征询函的内容,本公司回复如下: 一、重大事项情况 四川宏达实业有限公司(以下简称"宏达实业")因不能清偿到 期债务,被长城华西银行股份有限公司成都分行向什邡市人民法院申 请重整。2023年6月9日什邡市人民法院已裁定受理。2023年6月 28 日，什邡市人民法院指定管理人，具体负责开展各项重整工作。 宏达实业重整案第一次债权人会议于 2023 年 10 月 10 日 9 时 30 分以 现场会议与网络会议直播的形式同步召开,本次债权人会议议程如下: (一)管理人作阶段性工作报告; (三)管理人作债权审查说明及债权人会议核查债权; (四)管理人作《财产管理方案》的说明及债权人会议表决《财 产管理方案》。 本次债权人会议表决事项为《财产管理方案》,当目未形成决议, 表决期限截止日为 2023 年 10 月 13 日。 本次债权人会议不涉及重整的具体计划和方案,宏达实业重整能 否成功尚存在不确定性。宏达实业重整后续处置是否会引起上市公司 控制权的变化及造成其他影响 ...

证券代码：600331 证券简称：宏达股份 公告编号：临 2023-035 四川宏达股份有限公司 关于召开 2023 年半年度业绩说明会的公告 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。 重要内容提示： 投资者可于 2023 年 9 月 5 日(星期二)至 9 月 11 日(星期一)16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dshbgs@sichuanh ongda.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 四川宏达股份有限公司（以下简称"公司"）已于 2023 年 8 月 31 日发布公 司 2023 年半年度报告，为便于广大投资者更全面深入地了解公司 2023 年半年度 经营成果、财务状况，公司计划于 2023 年 9 月 12 日（星期二）上午 10:00-11: 00 举行 2023 年半年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络文字互动形式召开，公司将针对 2023 年半年度的 经营成果及财务指标的具体 ...

Financial Performance - The company's operating revenue for the first half of 2023 was RMB 1,454,558,655.49, a decrease of 9.04% compared to RMB 1,599,113,631.15 in the same period last year[31]. - The net profit attributable to shareholders of the listed company was a loss of RMB 66,544,196.37, representing a decline of 158.08% from a profit of RMB 114,564,074.95 in the previous year[31]. - The net cash flow from operating activities was negative RMB 48,187,011.62, a significant decrease from RMB 50,128,709.36 in the same period last year, reflecting a decline of 196.13%[31]. - The company's net assets attributable to shareholders decreased by 15.69% to RMB 348,322,555.56 from RMB 413,146,196.50 at the end of the previous year[31]. - The company's cash flow from operating activities decreased significantly, primarily due to a reduction in cash received from sales of goods and services[96]. - The company's total assets decreased by 44.28% compared to the previous year, with cash and cash equivalents amounting to approximately ¥183.39 million[100]. - The company's revenue from phosphate products decreased due to lower sales volume compared to the same period last year[96]. - The company's net profit attributable to shareholders decreased, influenced by market conditions and a decline in zinc ingot prices[99]. - The company reported a basic earnings per share of -0.0327 RMB, down 157.98% from 0.0564 RMB in the same period last year[150]. - The weighted average return on net assets fell to -17.48%, a decrease of 45.62 percentage points compared to the previous year[150]. Production and Capacity - The company has a production capacity of 170,000 tons per year for high-nutrient monoammonium phosphate, 100,000 tons per year for granular monoammonium phosphate, and 150,000 tons per year for powdered monoammonium phosphate[20]. - The company produced 10,468.76 tons of zinc products in Q2 2023, which is an increase of 13.09% year-on-year, while sales volume increased by 19.31% to 10,193.24 tons[47]. - The company’s zinc ingot production capacity is 100,000 tons per year, and it has received IATF16949:2016 certification for its hot-dip zinc alloy ingots, enhancing its competitive advantage in high-end applications[63]. - The company’s industrial-grade monoammonium phosphate production ranks among the top in the industry, with product quality superior to similar products[20]. - The company’s industrial-grade monoammonium phosphate production volume accounts for approximately 20% of the market share in the Northwest region, positioning it as a leading player in the industry[71]. Market Conditions and Pricing - The average price of zinc dropped from CNY 23,946.88 per ton at the beginning of the year to CNY 20,112 per ton in June, a decrease of 16.01%[16]. - The average monthly price of 0 zinc dropped from 23,946.88 RMB/ton at the beginning of the year to 20,112 RMB/ton by June, leading to operating losses[127]. - The price of domestic compound fertilizer (containing 45% nitrogen, phosphorus, and potassium) ranged from 3,100 to 3,400 RMB/ton from January to June 2023[154]. - The price of monoammonium phosphate fluctuated between 2,400 and 3,600 RMB/ton during the same period, indicating a downward trend in product profitability due to market pressures[172]. - The price of liquid ammonia also saw a decline, ranging from 2,500 to 5,000 RMB/ton from January to June 2023[173]. - Sales volume of phosphate products significantly decreased due to rapid price declines and reduced demand, impacting overall performance negatively[128]. Strategic Initiatives and Partnerships - The company has established strategic partnerships with several research institutions to support product structure enhancement and sustainable development[22]. - The company plans to enhance its product diversification in the phosphate series and improve its risk resistance capabilities through technological upgrades and innovation projects[45]. - The company is focused on expanding financing channels to ensure sufficient working capital for sustainable development[118]. - The company is actively responding to national policies promoting the development of new fertilizers, aiming for "water-saving agriculture" and "green ecology"[125]. - The company has implemented a circular economy industrial chain integrating zinc smelting and phosphate chemical business, effectively reducing production costs[21]. Research and Development - The company has accumulated over 80 patents in the production technology and management of phosphate chemical products, enhancing its competitive advantage in niche markets[22]. - The company has upgraded its phosphate products towards fine chemical directions, creating better economic benefits[20]. - The company is focusing on the comprehensive utilization of phosphogypsum in response to stricter environmental policies[65]. - The company has increased the utilization of phosphogypsum through technological innovation, achieving large-scale resource utilization capabilities[157]. Financial Management and Investments - The company has no profit distribution plan or capital reserve transfer plan during the reporting period[25]. - The company holds a 22.1605% stake in Sichuan Trust, with 10% of this stake currently frozen due to a contract dispute[40]. - The company has a total investment of 247 million CNY in Sichuan Trust Co., holding a 22.1605% equity stake, with the investment value currently recorded as zero due to impairment[83]. - The company holds a 30% equity stake in Tibet Hongda Duolong Mining Co., with an initial investment of 60 million CNY and a book value of 145.71 million CNY at the end of the period[52]. - The company has invested a total of 1.9 million CNY in Huaphon Company in two rounds of capital increases, with the registered capital of Huaphon Company reaching 60 million CNY by the end of the period[53]. - The company’s equity stake in Sichuan Huaphon Technology Co., amounting to 9.5%, has been frozen due to a legal dispute involving Jinding Zinc Industry[54]. - The company holds a 9.5% stake in Huaphon Company, which has been assessed to have a fair value of 0 due to continuous operational losses over the past three years[107]. - In 2022, Huaphon Company did not show any changes in its operations, leading to the same fair value assessment of 0 for the company's stake[107]. Regulatory and Compliance Issues - The company has faced regulatory scrutiny from the Sichuan Banking and Insurance Regulatory Commission, which has imposed restrictions on its management rights in Sichuan Trust[182]. - The company has been unable to obtain necessary audit reports from Sichuan Trust due to its ongoing risk disposal process, impacting the valuation of its equity investment[199]. - The company is facing risks related to the frozen status of its equity in Sichuan Trust, which may affect its financial position[200]. Environmental and Safety Measures - The company is implementing advanced pollution prevention measures to mitigate heavy metal contamination during production processes[120]. - The company has adopted a closed-loop system for wastewater management, ensuring no discharge into the environment[120]. - The company is focused on enhancing safety production conditions and has implemented DCS automation control in its production processes[177].

证券代码：600331 证券简称：宏达股份 公告编号：临 2023-027 四川宏达股份有限公司 关于召开 2022 年度业绩说明会的公告 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。 重要内容提示： 投资者可于 2023 年 6 月 9 日(星期五)至 6 月 15 日(星期四)16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dshbgs@sichuanh ongda.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 四川宏达股份有限公司（以下简称"公司"）已于 2023 年 4 月 15 日发布公 司 2022 年年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营成 果、财务状况，公司计划于 2023 年 6 月 16 日上午 10:00-11:00 举行 2022 年度 业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络文字互动形式召开，公司将针对 2022 年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 837,128,049.28, representing a year-on-year increase of 12.09%[4] - The net profit attributable to shareholders of the listed company was CNY 9,045,139.61, a decrease of 72.23% compared to the same period last year[4] - Basic earnings per share for Q1 2023 were CNY 0.0045, a decrease of 71.88% year-on-year[17] - Total operating revenue for Q1 2023 reached RMB 837,128,049.28, an increase of 12.06% compared to RMB 746,844,037.01 in Q1 2022[40] - Net profit for Q1 2023 was RMB 9,067,994.24, a significant decrease of 72.10% from RMB 32,598,866.40 in Q1 2022[41] Cash Flow - The net cash flow from operating activities was negative CNY 75,115,479.98, reflecting a significant decrease of 300.74% year-on-year[4] - In Q1 2023, the company reported cash inflows from operating activities of ¥639,401,283.89, compared to ¥547,396,686.23 in Q1 2022, representing an increase of approximately 16.7%[62] - The company’s net cash flow from operating activities was negative at ¥75,115,479.98 in Q1 2023, a decline from a positive cash flow of ¥37,418,843.27 in Q1 2022[62] - The company reported a significant increase in cash paid for purchasing goods and services, totaling ¥565,896,917.32 in Q1 2023, compared to ¥404,279,326.44 in Q1 2022, marking an increase of approximately 40%[62] - The company’s cash outflows from operating activities totaled ¥714,516,763.87 in Q1 2023, compared to ¥509,977,842.96 in Q1 2022, indicating a rise of about 40%[62] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,156,143,381.31, down 8.25% from the end of the previous year[17] - The company's total liabilities decreased to RMB 1,706,661,451.18, down from RMB 1,910,954,498.05 at the end of 2022, a reduction of 10.67%[38] - Current assets totaled RMB 900,150,173.38, a decline of 16.00% from RMB 1,070,361,717.32 at the end of 2022[38] - The company’s total liabilities as of March 31, 2023, were ¥1,732,070,285.44, down from ¥1,936,446,467.89 at the end of 2022, indicating a reduction of approximately 10.5%[58] Production and Sales - Zinc ingot production reached 14,496.35 tons, showing a year-on-year increase of 50.12%, while sales volume was 14,356.22 tons[7] - The company reported a decrease in accounts receivable by 29.24% compared to the end of the previous year, primarily due to the collection of sales orders settled on a cash basis[7] Shareholder Information - The total number of common shareholders at the end of the reporting period is 101,821[20] - Sichuan Hongda Industrial Co., Ltd. holds 536,237,405 shares, accounting for 26.39% of total shares[20] - Xinhua Lian Holdings Co., Ltd. holds 175,436,620 shares, accounting for 8.63% of total shares[20] Strategic Initiatives - The company aims to strengthen its competitive advantages in non-ferrous metals and chemical products, enhancing overall revenue and profit levels[29] - The company plans to increase investment in new products, particularly in compound fertilizers and high-nutrient phosphate chemical series products[30] - The company is focusing on cost control and efficiency improvement to enhance its sustainable operation capabilities[31] - The company is committed to strengthening external technology introduction and cooperation to support product structure enhancement and sustainable development[31] - The company aims to optimize production processes and improve economic efficiency through the implementation of new technologies in zinc smelting, which is expected to enhance metal recovery rates[49] - The company plans to enhance its internal control systems and risk management capabilities to support long-term development[51] Legal and Financial Issues - As of March 31, 2023, the company has frozen funds amounting to 1,185,618.50 yuan due to ongoing litigation[34] - The company has 135 properties with a total area of 127,907.28 square meters that have been sealed, with a book value of 47,030,501.61 yuan[34] - The company is actively seeking to resolve the Jinding Zinc Industry case and is in discussions to reach a settlement agreement[47] Other Financial Metrics - Research and development expenses for Q1 2023 were RMB 84,347.99, an increase from RMB 34,515.03 in Q1 2022, reflecting a growth of 144.00%[40] - The company reported a credit impairment loss of RMB 428,302.43 in Q1 2023, compared to a gain of RMB 1,327,133.54 in Q1 2022[40] - The net cash flow from investment activities was -1,272,837.10, compared to -60,948,868.23 in the previous period, indicating a significant improvement[70] - Cash inflow from financing activities totaled 58,840,000.00, while cash outflow was 75,390,293.46, resulting in a net cash flow from financing activities of -16,550,293.46[70] - The net increase in cash and cash equivalents was -93,053,891.20, compared to -55,159,587.44 in the previous period, reflecting a worsening cash position[70] - The ending balance of cash and cash equivalents was 167,929,343.67, down from 260,983,234.87 at the beginning of the period[70] - The impact of exchange rate changes on cash and cash equivalents was -115,280.66[70] - The company reported no net profit from the merged entity prior to the merger, consistent with the previous period[68] - The company has not adopted new accounting standards or interpretations for the current year[71] - The cash paid for other investment-related activities was 17,520,848.09[70] - The company repaid debts amounting to 66,130,000.00 during the financing activities[70]

Financial Performance - The company reported a net profit attributable to the parent company of CNY 60,158,515.96 for the year 2022, while the parent company itself recorded a net loss of CNY 95,346,718.33[5]. - The company's operating revenue for 2022 was approximately RMB 2.94 billion, representing a 1.14% increase compared to 2021[36]. - The net profit attributable to shareholders for 2022 was approximately RMB 60.16 million, a decrease of 80.33% from the previous year[36]. - Basic earnings per share for 2022 were RMB 0.0296, down 80.33% from RMB 0.1505 in 2021[39]. - The weighted average return on equity decreased significantly to 15.82% in 2022, down 135.95 percentage points from 151.77% in 2021[39]. - The net cash flow from operating activities increased by 156.43% to approximately RMB 339.61 million in 2022[36]. - The total assets at the end of 2022 were approximately RMB 2.35 billion, reflecting a 3.93% increase from 2021[36]. - The company's net assets attributable to shareholders increased by 18.46% to approximately RMB 413.15 million by the end of 2022[36]. - The company reported a significant increase in tax payable, reaching CNY 25,178,139.94, which is a 303.68% increase compared to the previous year-end, mainly due to increased VAT and income tax obligations from a subsidiary[104]. Operational Challenges - The decrease in net profit was primarily due to the impact of high-temperature power restrictions, which led to reduced production and sales volumes of zinc products[53]. - The company has faced challenges in zinc production due to supply shortages, leading to lower operational loads in 2022[47]. - The company has no self-owned lead-zinc mines and relies entirely on external procurement of zinc concentrate, which directly impacts its profits[125]. - In 2022, due to a shortage of zinc concentrate supply, the processing fees remained low, leading to increased procurement costs and a reduction in zinc product production and sales compared to the previous year[125]. - The company is currently facing regulatory restrictions on its rights related to Sichuan Trust due to previous violations of prudent operating rules[129]. - The company has faced risks due to a contract dispute with Jinding Zinc Industry, resulting in the freezing of bank deposits amounting to approximately 66.9 million yuan as of December 31, 2022[184]. Strategic Initiatives - The company aims to enhance its competitive advantage in zinc smelting by optimizing production processes and reducing production costs through new technologies, which will improve metal recovery rates and economic efficiency[11]. - In the phosphate chemical sector, the company intends to increase market share for high-value-added products and enhance the industrialization of monoammonium phosphate products[11]. - The company is focusing on improving internal management and operational efficiency to enhance its sustainable operation capabilities and cost control[11]. - The company aims to enhance production capacity and reduce costs in the phosphate product line to improve economic efficiency[41]. - The company is exploring CO2 resource utilization processes to enhance production efficiency and meet market demand[82]. - The company plans to strengthen raw material procurement management and expand procurement channels to reduce costs and improve recovery efficiency[97]. - The company is focusing on management and technological innovation to upgrade products and develop high-value new product series such as zinc alloys and high-concentration ammonium phosphate[167]. - The company is strategically positioned to benefit from the increasing demand for high-efficiency fertilizers and the growth of the renewable energy market[177]. Risk Management - The company emphasizes the importance of risk management and has detailed potential risks and countermeasures in its annual report[15]. - The company is committed to enhancing its governance and internal control systems to improve risk prevention capabilities for long-term development[11]. - The company has acknowledged the significant uncertainty regarding its ability to continue as a going concern, as highlighted in the audit report[3]. - The company faces significant risks from fluctuations in raw material costs and market demand, particularly in the zinc and phosphate chemical sectors[198]. - The company is monitoring the progress of legal cases that may impact its operations and is prepared to fulfill disclosure obligations as necessary[194]. Research and Development - Total R&D expenditure amounted to ¥2,671,920.31, representing 0.09% of operating revenue, with no capitalized R&D expenses[81]. - The company has over 80 patents and has developed advanced production technologies for various fertilizer products, including high-content water-soluble phosphate fertilizers[68]. - The company has established strategic partnerships with multiple research institutions to enhance product structure and sustainable development through independent research and technology collaboration[55]. - The company is enhancing its market research and product development to adapt to industry trends towards circular economy and deep processing[200]. - The company has 79 R&D personnel, making up 2.94% of the total workforce, with a focus on enhancing product quality and reducing costs through technological upgrades[90]. Environmental and Regulatory Compliance - The company has implemented advanced pollution control measures, including a closed-loop wastewater system and digital monitoring for hazardous waste management[188]. - The company’s environmental governance level is above the industry average, particularly in hazardous waste disposal capabilities[56]. - The company actively responds to national policies promoting new fertilizer development, with its products certified as eco-friendly fertilizers[70]. Future Outlook - The company plans to achieve an operating income of 3.6 billion yuan and control operating costs at 3.3 billion yuan for 2023[179]. - The production targets for 2023 include 75,000 tons of zinc ingots (zinc alloys), 350,000 tons of phosphate products, 180,000 tons of compound fertilizers, and 120,000 tons of synthetic ammonia[179]. - The company anticipates that the phosphatic fertilizer industry will face a tightening supply situation, maintaining high prices with limited consumption growth[158]. - The domestic phosphate fertilizer market is experiencing a reduction in competition as smaller enterprises exit, leading to a concentration where the top 10 producers account for over 70% of total output[113]. - The zinc smelting industry is expected to see a shift from tight to loose raw material supply in 2023, with processing fees anticipated to remain reasonable[163].