Financial Performance - Operating income for the period from January to September was CNY 1,622,171,167.12, a decrease of 12.25% year-on-year[18]. - Net profit attributable to shareholders of the listed company was a loss of CNY 301,673,373.36, a decline of 509.33% compared to the same period last year[18]. - Total revenue for the period was CNY 1,622,171,167.12, a decrease of 12.25% compared to the previous year[25]. - The company reported a net loss of CNY 227,733,839.48 for the current quarter, compared to a net profit of CNY 7,789,532.19 in the same quarter last year, indicating a significant decline in profitability[60]. - The total comprehensive income for the quarter was CNY -232,740,986.59, compared to CNY -12,348,169.91 in the same quarter last year, highlighting a worsening financial position[62]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,246,290,276.78, a decrease of 8.69% compared to the end of the previous year[18]. - The company's total liabilities decreased to ¥2,235,908,253.05 from ¥2,335,415,046.74, a reduction of approximately 4.3%[46]. - The total equity decreased to CNY 2.40 billion from CNY 2.66 billion, indicating a decline of approximately 9.8%[54]. - The company’s non-current assets totaled ¥3,437,339,403.28, down from ¥3,752,332,300.47, indicating a decrease of approximately 8.4%[42]. Cash Flow - The net cash flow from operating activities for the period was CNY 72,324,488.70, an increase of 106.70% year-on-year[18]. - The net cash flow from financing activities was -CNY 71,041,320.66, compared to -CNY 44,847,571.10 in the same period last year[18]. - The company's cash and cash equivalents at the end of the third quarter of 2020 were CNY 226,089,479.56, down from CNY 286,593,130.32 at the end of the same period in 2019, a decrease of approximately 21.06%[75]. - The cash flow from operating activities netted CNY 72,324,488.70 in the third quarter of 2020, compared to CNY 34,990,147.65 in the same quarter of 2019, showing an increase of approximately 106.73%[73]. Shareholder Information - The number of shareholders at the end of the reporting period was 91,743, with the largest shareholder holding 26.88% of the shares[24]. - Basic earnings per share were -0.1485 CNY, a decrease of 509.09% compared to the same period last year[18]. Operational Challenges - The company has faced significant uncertainties regarding its ability to continue as a going concern due to ongoing legal disputes[30]. - The company continues to monitor the litigation case closely, as further court actions may adversely affect its ongoing operations[34]. - The company reported a provision for delayed performance of ¥38,495,396.53 for the first nine months of 2020, which impacted the current profit and loss[34]. Investment and Expenses - Investment income showed a significant decline, with a loss of CNY 259,345,000.02, down 320.19% year-on-year due to economic downturns and the impact of COVID-19[28]. - Research and development expenses for Q3 2020 were CNY 83.41 million, significantly lower than CNY 653.54 million in Q3 2019, showing a reduction of about 87.3%[57]. - The company reported a decrease in management expenses to CNY 84,184,301.25, down 27.88% due to the resumption of trial production at a subsidiary[28].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,018,506,668.43, a decrease of 19.78% compared to CNY 1,269,647,080.59 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of CNY 73,910,763.73, representing a decline of 212.00% compared to a profit of CNY 65,991,569.08 in the previous year[23]. - The basic earnings per share for the first half of 2020 was -CNY 0.0364, a decrease of 212.00% compared to CNY 0.0325 in the same period last year[26]. - The diluted earnings per share also stood at -CNY 0.0364, reflecting the same decline as the basic earnings per share[26]. - The company reported a net loss of ¥74,080,344.05, compared to a net profit of ¥65,903,271.02 in the previous period, indicating a significant decline in profitability[198]. - Total comprehensive income for the period was ¥-69,736,748.76, down from ¥76,613,817.51 in the prior period, reflecting a substantial decrease in overall financial performance[200]. - Operating profit was reported at ¥-74,271,873.09, a stark contrast to the operating profit of ¥66,361,201.30 from the previous period[198]. - The total profit before tax was ¥-74,080,344.05, compared to a profit of ¥65,899,748.68 in the previous period, showing a drastic decline in pre-tax profitability[198]. Cash Flow and Assets - The net cash flow from operating activities was CNY 81,654,407.34, an increase of 891.28% from CNY 8,237,232.06 in the same period last year[23]. - The total assets at the end of the reporting period were CNY 4,419,890,935.89, down 4.96% from CNY 4,650,664,204.55 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company decreased by 3.02% to CNY 2,227,015,873.48 from CNY 2,296,369,390.26 at the end of the previous year[23]. - Total current assets decreased to ¥728,264,845.50 from ¥898,331,904.08, a decline of approximately 18.9%[181]. - Total non-current assets decreased to ¥3,691,626,090.39 from ¥3,752,332,300.47, a decline of about 1.6%[185]. - Total liabilities decreased to ¥2,193,849,342.05 from ¥2,355,100,112.94, a reduction of approximately 6.9%[187]. - Current liabilities decreased to ¥2,176,652,232.91 from ¥2,335,415,046.74, a decline of about 6.8%[185]. Investment and Subsidiaries - The company recognized an investment loss of RMB 3,053.03 million from its stake in Sichuan Trust, a decrease of RMB 11,009.60 million compared to the previous year[35]. - The company reported a net profit attributable to the parent company of RMB -137,769,165.67 from its investment in Sichuan Trust Co., Ltd.[79]. - The company has invested 6 million yuan in Tibet Hongda Duolong Mining Co., Ltd., holding a 30% equity stake[68]. - The company has invested 1.9 million yuan in Sichuan Huaphosphor Technology Co., Ltd., holding a 9.5% equity stake[70]. - The company’s subsidiary, Jianchuan Yiyun Nonferrous Metals Co., Ltd., has been suspended from production since September 12, 2019, due to raw material supply issues[78]. Legal and Compliance Issues - The company is currently facing a legal risk regarding a contract dispute, with a required profit return of RMB 800,852,899.68 to Jinding Zinc Industry Co., Ltd.[82]. - The company is currently undergoing a significant litigation process regarding the invalidation of its 60% equity in Jinding Zinc Industry[112]. - The company has incurred legal fees totaling RMB 11,295,431.54 related to the litigation process[112]. - The company has signed a financial support agreement with banks to ensure that existing credit limits remain unchanged and loans are being repaid normally[84]. - The company has committed to strictly adhere to relevant laws and regulations regarding the issuance of new shares following the non-public offering, ensuring timely and accurate disclosure of significant information to investors[95]. Environmental Management - The company has been recognized for its environmental management, achieving a level of waste disposal capability that exceeds industry averages[3]. - The company emitted a total of 98.35 tons of SO2, 53.20 tons of NOX, and 0.306437 tons of lead compounds during the reporting period[128]. - The company has established a total of 14 exhaust outlets for gas emissions, with 0 outlets for wastewater[131]. - The company achieved compliance with emission standards, with SO2 and NOX emissions below 400 mg/m3 and 240 mg/m3 respectively[131]. - The company has implemented various pollution control measures, including alkaline washing and multi-stage scrubbing for SO2 and particulate matter reduction[131]. - The company has established a comprehensive pollution prevention system, including tail gas absorption towers and wastewater treatment stations[131]. - The company has a total of 532.33 tons of zinc-copper slag, with 100% of it safely stored and managed according to hazardous waste standards[139]. Shareholder and Capital Structure - The controlling shareholder, Sichuan Hongda Industrial Co., Ltd., holds 546,237,405 shares, accounting for 26.88% of the total share capital[158]. - As of the report date, 540,000,000 shares held by the controlling shareholder are pledged, representing 26.57% of the total share capital[158]. - The second largest shareholder, Xinhua Lian Holdings Co., Ltd., holds 175,436,620 shares, which is 8.63% of the total share capital[164]. - A total of 175,436,620 shares, representing 8.63% of the company's total share capital, have been judicially frozen since March 20, 2020[168]. - The company has reported that the judicial freezing of shares held by significant shareholders will not impact its daily operations[171]. Operational Adjustments and Strategies - The company has actively adjusted its production load and product structure in response to the challenges posed by the COVID-19 pandemic[42]. - The company is focusing on optimizing its product structure and enhancing its competitive edge to improve profitability amidst industry challenges[87]. - The company is actively pursuing new strategies for market expansion and product development, although specific figures were not disclosed in the report[186]. - The company has established a highly specialized marketing team to monitor market dynamics and price trends effectively[3]. - The company is committed to maintaining long-term cooperative relationships with financial institutions and suppliers to ensure a stable funding chain[84].

2020 年第一季度报告 公司代码：600331 公司简称：宏达股份 四川宏达股份有限公司 2020 年第一季度报告 1 / 21 2020 年第一季度报告 重要提示 . 一、 二、 公司基本情况 . 11Í 重要事项 . 四、 附录 . 目录 2 / 21 2020 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人黄建军、主管会计工作负责人帅巍 及会计机构负责人（会计主管人员）帅巍保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------|----------------------|----------------------- ...

Financial Performance - The company reported a net profit attributable to shareholders of the parent company for 2019 of RMB 84,503,461.45, while the parent company achieved a net profit of RMB 134,420,767.91[11]. - The company's operating revenue for 2019 was ¥2,545,255,748.56, a decrease of 5.38% compared to ¥2,690,012,210.01 in 2018[28]. - The net profit attributable to shareholders of the listed company was ¥84,503,461.45, a significant recovery from a loss of ¥2,672,012,978.11 in 2018[28]. - The net cash flow from operating activities increased by 111.70% to ¥62,024,107.41 from ¥29,298,376.53 in the previous year[28]. - The basic earnings per share for 2019 was ¥0.0416, compared to a loss of ¥1.3150 per share in 2018[31]. - The total assets at the end of 2019 were ¥4,650,664,204.55, a decrease of 3.20% from ¥4,804,338,993.07 in 2018[31]. - The company's net assets attributable to shareholders increased by 3.54% to ¥2,296,369,390.26 from ¥2,217,810,692.78 in 2018[31]. - The company reported non-recurring gains and losses of ¥30,555,636.02 from government subsidies in 2019[37]. - The weighted average return on net assets increased by 78.60 percentage points to 3.74% in 2019 from -74.86% in 2018[31]. Operational Highlights - The company’s main operations include the smelting, processing, and sales of non-ferrous metals, particularly zinc, and the production and sales of phosphate chemical products[5]. - The company’s electrolytic zinc production capacity is 100,000 tons per year, with actual production reaching 81,135.77 tons in 2019[45]. - The company produced 33,100 tons of electrolytic zinc in 2019, with a production capacity of 100,000 tons per year[57]. - The production of zinc alloy reached 48,000 tons against a capacity of 100,000 tons per year[57]. - The company’s phosphate series products had a production capacity of 360,000 tons per year, with actual production of 297,600 tons in 2019[57]. - The company achieved a comprehensive utilization rate of 97.47% for phosphogypsum in 2019, reflecting its commitment to sustainable practices[48]. Market and Sales - The company achieved a significant increase in zinc product sales volume compared to the previous year, driven by lower procurement costs for zinc concentrate and improved production efficiency[42]. - The company’s main products, "Cishan" and "G Cishan" zinc ingots, are registered for trading on the Shanghai Futures Exchange and the London Metal Exchange, enhancing their market presence[48]. - The company’s marketing team has effectively adapted to market dynamics, contributing to stable sales and a strong reputation for its zinc products across various regions[48]. - The company’s industrial-grade monoammonium phosphate sales accounted for approximately 20% of the market share in the Northwest region, with a demand growth rate of about 10% annually[53]. Strategic Initiatives - The company plans to enhance cost control and optimize management in response to market changes, focusing on high-value new product development and production scale[6]. - The company aims to maintain communication with financial institutions to ensure stable loan turnover and expand financing channels to secure the funding chain[8]. - The company plans to continue expanding its market presence and invest in new product development[28]. - The company is focusing on the research and development of new zinc alloy products, including zinc-aluminum-magnesium alloys and zinc-copper-titanium alloys, with plans to invest more resources in these areas[79]. Environmental and Compliance - The company has implemented advanced pollution control measures, including tail gas treatment processes and closed-loop wastewater management, to mitigate heavy metal pollution risks[110]. - The company has established a wastewater treatment station that recycles wastewater without discharge, achieving a COD Cr emission of 0.66 tons[166]. - The company has implemented measures such as two-stage absorption and alkaline washing to ensure that waste gas emissions meet standards[167]. - The company has achieved a 100% treatment rate for hazardous waste, with proper storage and disposal measures in place[173]. - The company has not experienced any violations of environmental laws or pollution incidents during the reporting period[181]. Legal and Litigation Matters - The company has been involved in significant litigation, with the Yunnan Provincial High People's Court freezing RMB 210.24 million in deposits and equity stakes in Sichuan Trust and Jinding Zinc Industry, totaling RMB 135.65 million[140]. - The company faced a lawsuit regarding a contract dispute, with the involved amount being RMB 2.11 billion, resulting in a first-instance judgment against the company[144]. - The company has returned a total of RMB 1,074,102,155.4 to Yunnan Jinding Zinc Industry Co., Ltd. after deducting previously paid capital contributions of RMB 496,342,200[146]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 97,643, an increase from 92,764 in the previous month[191]. - The top shareholder, Sichuan Hongda Industrial Co., Ltd., holds 546,237,405 shares, representing 26.88% of total shares[191]. - The second-largest shareholder, Xinhua Lian Holdings Co., Ltd., holds 195,547,610 shares, accounting for 9.62% of total shares[191]. - The largest shareholder has pledged 540,000,000 shares, indicating a significant level of collateralization[191]. Future Outlook - The company plans to achieve an operating revenue of 2.5 billion yuan and an operating cost of 2.2 billion yuan for 2020, with a target of producing 80,000 tons of zinc ingots (zinc alloys) and 300,000 tons of phosphate products[104]. - The company anticipates that the global zinc market will face dual pressures of oversupply in zinc concentrate and refined zinc, making it difficult for zinc prices to recover in the next 1-2 years[101]. - The company is actively managing risks related to macroeconomic policies and industry dynamics that could affect profitability, particularly in the zinc and phosphate sectors[109].

Financial Performance - Net profit attributable to shareholders was CNY 73,699,219.91, an increase of 345.69% year-on-year[18]. - Basic earnings per share rose to CNY 0.0363, an increase of 348.15% compared to the previous year[18]. - The company reported a net profit excluding non-recurring gains and losses of CNY 58,998,966.64, an increase of 226.78% year-on-year[18]. - Total operating revenue for Q3 2019 was ¥579,034,471.06, a decrease of 49.5% compared to ¥1,148,527,378.16 in Q3 2018[56]. - Net profit for Q3 2019 was ¥7,789,532.19, compared to ¥33,662,935.24 in Q3 2018, reflecting a decline of 77.0%[59]. - The total comprehensive income for Q3 2019 was -¥12,348,169.91, compared to ¥38,921,458.88 in Q3 2018[62]. - The company reported a total comprehensive income for Q3 2019 of CNY -4,574,884.52, compared to CNY -19,047,655.07 in Q3 2018, indicating an improvement[70]. Revenue and Costs - Operating revenue for the first nine months was CNY 1,848,681,551.65, down 47.92% compared to the same period last year[18]. - Total operating costs for Q3 2019 were ¥618,036,897.78, down 45.2% from ¥1,126,980,987.89 in Q3 2018[56]. - Total operating revenue decreased by 47.92% year-on-year to 1,848,681,551.65 RMB, attributed to a court ruling affecting the company's operations[27]. - Total operating costs for Q3 2019 were CNY 536,316,043.95, slightly up from CNY 532,335,627.53 in Q3 2018, showing a marginal increase of 0.4%[65]. Cash Flow - The net cash flow from operating activities was CNY 34,990,147.65, a decrease of 90.73% year-on-year[18]. - Cash flow from operating activities for the first three quarters of 2019 was CNY 1,659,552,288.19, down from CNY 3,844,152,630.06 in the same period of 2018, a decrease of 56.8%[70]. - Net cash flow from operating activities was -145,452,026.18 for the first nine months of 2019, compared to a positive 70,851,791.69 in the same period of 2018[77]. - Cash inflow from investment activities totaled 77,976,543.69, significantly higher than 12,024,110.21 in the previous year, indicating a substantial increase in investment recovery[77]. - Cash outflow from investment activities was 40,907,959.53, compared to 14,655,875.09 in the same period of 2018, representing an increase of approximately 179.5%[77]. - Cash flow from financing activities showed a net outflow of -17,202,586.19, an improvement from -105,397,395.55 in the previous year[79]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,593,084,715.61, a decrease of 4.40% compared to the end of the previous year[18]. - The total liabilities decreased by 15.10% to 1,116,073,015.38 RMB, primarily due to the payment of returned profit amounts as per a court ruling[27]. - The company’s total assets as of September 30, 2019, amounted to CNY 4,593,084,715.61, down from CNY 4,804,338,993.07 at the end of 2018, indicating a reduction of about 4.4%[44]. - Total current liabilities decreased from 2,520,124,727.22 to 2,246,789,102.16, a reduction of approximately 10.8%[45]. - Total liabilities decreased from 2,542,708,443.89 to 2,267,188,518.83, representing a decline of about 10.8%[45]. - The company’s long-term equity investments increased to CNY 2,190,758,535.16 from CNY 2,084,275,398.89, showing an increase of approximately 5.1%[44]. Shareholder Information - The total number of shareholders at the end of the reporting period is 99,379, with the largest shareholder, Sichuan Hongda Industrial Co., Ltd., holding 546,237,405 shares, accounting for 26.88% of the total shares[23]. - The top ten shareholders hold a significant portion of shares, with the second-largest shareholder, Xinhua Lian Holdings Co., Ltd., holding 195,547,610 shares, representing 9.62%[23]. Court Rulings and Operational Impact - The company reported a significant uncertainty regarding its ability to continue as a going concern due to a court ruling that invalidated its 60% stake in Yunnan Jinding Zinc Industry Co., requiring a return of profits totaling CNY 1,074,102,200.00[32]. - The company is currently in the execution phase of a court ruling, with CNY 223,249,255.72 in bank deposits frozen by the court[33]. - The company is actively communicating with relevant parties to ensure compliance with the court ruling and maintain its operational continuity[35]. Research and Development - Research and development expenses decreased by 88.62% to 795,422.34 RMB, reflecting changes in the consolidation of subsidiaries[30]. - Research and development expenses for Q3 2019 were ¥653,544.53, down 61.7% from ¥1,704,266.73 in Q3 2018[56]. - Research and development expenses increased to CNY 653,544.53 in Q3 2019 from CNY 111,820.16 in Q3 2018, reflecting a growth of 484.3%[65].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,269,647,080.59, a decrease of 47.12% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 65,991,569.08, an increase of 410.47% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 60,649,578.86, up 306.93% from the previous year[23]. - The net cash flow from operating activities was CNY 8,237,232.06, a significant decrease of 96.99% compared to the same period last year[23]. - Basic earnings per share increased to 0.0325 CNY, up 407.81% from 0.0064 CNY in the same period last year[27]. - Diluted earnings per share also reached 0.0325 CNY, reflecting a 407.81% increase compared to the previous year[27]. - The weighted average return on equity rose to 2.92%, an increase of 2.66 percentage points from 0.26% year-on-year[27]. - The company reported a total of 5,341,990.22 CNY in non-recurring gains and losses, primarily from non-current asset disposal and government subsidies[28]. - The company reported a net profit of 359,042,918.44 RMB from its investment in Sichuan Trust, contributing 120.57% to the listed company's net profit[67]. - The company reported a total current assets of approximately CNY 900.16 million as of June 30, 2019, down from CNY 1,095.94 million at the end of 2018, indicating a decrease of about 18%[147]. - The company reported a total equity of 2,261,630,549.18 RMB, reflecting an increase of 76,613,817.51 RMB during the period[183]. Asset and Liability Management - Total assets at the end of the reporting period were CNY 4,612,258,879.54, a decrease of 4.00% compared to the end of the previous year[23]. - Other payables decreased by 14.41% to CNY 1,125,221,049.73, accounting for 24.40% of total assets[52]. - Accounts receivable increased by 1,619.47% to CNY 33,810,259.26, representing 0.73% of total assets due to sales orders settled on a post-delivery payment basis[52]. - Prepayments rose by 50.40% to CNY 46,157,130.89, making up 1.00% of total assets, primarily due to increased prepayments by a subsidiary[52]. - The company’s cash and cash equivalents include CNY 13,000,000.00 that is frozen, impacting liquidity[53]. - The company holds a 22.1605% stake in Sichuan Trust Co., with a book value of CNY 211,445.02 million, which is currently frozen due to litigation[57]. - The company reported a total liability of CNY 2,340,480,857.95, down from CNY 2,544,574,604.08, representing a decrease of 8%[162]. - Total liabilities decreased from ¥2,542,708,443.89 to ¥2,274,014,512.85, a decline of about 10.6%[152]. Operational Challenges - The decrease in operating revenue was primarily due to the invalidation of the company's 60% equity stake in Jinding Zinc Industry, which was no longer included in the consolidated scope[26]. - The company faces various risks in its production and operation processes, which are detailed in the report[8]. - The company is facing significant uncertainty regarding its ability to continue as a going concern due to a court ruling that invalidated its 60% equity stake in Yunnan Jinding Zinc Industry Co., Ltd., requiring the company to return profits totaling RMB 1,074.1022 million[84]. - The company is involved in a lawsuit with a total claim amounting to RMB 2,117,076,022.00 related to a contract dispute involving its subsidiary, Yunnan Jinding Zinc Industry Co., Ltd.[90]. - The ongoing litigation and financial implications have significantly impacted the company's operations and financial stability[93]. Environmental Compliance - The company is committed to environmental standards, ensuring that emissions and waste management practices exceed regulatory requirements[43]. - The main pollutants emitted by the company include SO2, NOx, particulate matter, lead compounds, and mercury compounds, with total emissions of SO2 at 148.71 tons and NOx at 69.43 tons[110]. - The company has established pollution control facilities that operate in sync with the main production facilities, ensuring compliance with emission standards[113]. - The company has not exceeded the total emission limits set by environmental regulations[110]. - The company has implemented measures for pollution reduction and has not faced any overdue guarantees during the reporting period[106]. Strategic Initiatives - The company has established strategic partnerships with research institutions to develop high-value differentiated products, including patented production technologies[38]. - The company has strengthened its market services by collaborating with agricultural research institutions to enhance support for secondary distributors and grassroots farmers[46]. - The company is actively pursuing partnerships with research institutions to advance the development of fine phosphate products, enhancing its competitive edge[43]. - The company plans to continue its focus on expanding its market presence in the chemical and metal industries, aiming for growth in both domestic and international markets[200]. Shareholder Information - The company reported a total of 103,530 common stock shareholders as of the end of the reporting period[137]. - Sichuan Hongda Industrial Co., Ltd. holds 546,237,405 shares, representing 26.88% of the total shares, with 6,237,405 shares frozen[139]. - The company has not reported any changes in controlling shareholders or actual controllers during the reporting period[140]. - The largest shareholder, Sichuan Hongda Industrial Co., Ltd., has committed to avoiding competition with the company and ensuring fair market practices in related transactions[79].

Financial Performance - The company reported a net profit attributable to the parent company of -2,672,012,978.11 RMB for 2018, with a cumulative undistributed profit of -3,490,742,421.43 RMB by the end of the year[12]. - The company's operating revenue for 2018 was CNY 2,690,012,210.01, a decrease of 41.81% compared to CNY 4,622,844,290.48 in 2017[30]. - The net profit attributable to shareholders for 2018 was a loss of CNY 2,672,012,978.11, representing a decline of 1,395.90% from a profit of CNY 206,189,600.28 in 2017[30]. - The net cash flow from operating activities for 2018 was CNY 29,298,376.53, compared to a negative cash flow of CNY 272,271,501.10 in 2017[30]. - The total assets at the end of 2018 were CNY 4,804,338,993.07, down 49.55% from CNY 9,523,569,425.92 at the end of 2017[32]. - The net assets attributable to shareholders decreased by 55.03% to CNY 2,217,810,692.78 in 2018 from CNY 4,931,326,018.37 in 2017[32]. - The basic earnings per share for 2018 was -CNY 1.3150, a decrease of 1,395.57% from CNY 0.1015 in 2017[33]. - The weighted average return on net assets for 2018 was -74.86%, a decrease of 79.13 percentage points from 4.27% in 2017[33]. - The company reported a significant decrease in sales expenses by 30.02%, totaling RMB 69,438,361.60[84]. Legal and Compliance Issues - The company is actively communicating with relevant parties to ensure compliance with court rulings and maintain continuous operations[10]. - The company no longer consolidates the financial results of Jinding Zinc Industry, which it previously held a 60% stake in, due to a court ruling[32]. - The company had to return profits of 1,074,102,200 CNY to Jinding Zinc Industry for the years 2003 to 2012, following a court ruling that invalidated its 60% stake in the subsidiary[45][46]. - The Supreme People's Court ruled that the company's 60% equity in Jinding Zinc Industry is invalid, requiring the company to return profits of CNY 1,074,102,155.4 from 2003 to 2012 after deducting previously paid capital contributions of CNY 496,342,200[184]. - The company reported a significant legal ruling resulting in the invalidation of its 60% stake in Jinding Zinc Industry, impacting its control over the subsidiary[161]. - The company is facing risks related to contract disputes, with a potential repayment of approximately 863.85 million yuan in profits to a former subsidiary[143]. Operational Strategies - The company is focusing on reducing or delaying expenditures and controlling costs to enhance innovation and optimize product structure[10]. - The company is committed to maintaining long-term good relationships with financial institutions and suppliers to ensure a stable cash flow[10]. - The company is focusing on technological innovation to upgrade its product line in the phosphate fertilizer sector, aiming to avoid price competition and enhance profitability[52]. - The company aims to enhance production and sales scale of high-value-added new products, focusing on innovation and market demand[64]. - The company plans to optimize procurement strategies and reduce costs by leveraging direct sourcing and strict price controls[65]. - The company is committed to maintaining environmental standards that exceed regulatory requirements, ensuring compliance in waste management[66]. - The company is enhancing innovation capabilities and adjusting its industrial structure to improve competitiveness and sustainable development[137]. Market Conditions and Challenges - The average price of zinc ingots dropped from 26,200 CNY/ton at the beginning of 2018 to 21,800 CNY/ton by year-end, reflecting a significant market downturn[48]. - The company faces challenges in raw material supply, with a global zinc concentrate inventory shortage affecting pricing dynamics[104]. - The domestic supply of zinc concentrate is significantly affected by national environmental policies, import/export policies, and exchange rate fluctuations, leading to a historical low processing fee in the zinc smelting industry in the first half of 2018[105]. - The demand for zinc products in the domestic market is weak, with a year-on-year decline in automobile production and sales, resulting in increased sales pressure for smelting enterprises[105]. - The tightening of environmental policies and changes in import/export regulations are expected to increase cost pressures for phosphate chemical companies in 2019[137]. Investments and Financial Management - The company has signed a financial support agreement with banks to ensure that existing credit limits remain unchanged and loans are repaid normally[10]. - The company has made significant breakthroughs in the comprehensive utilization of phosphogypsum, aiming to achieve a balance in production and sales to reduce environmental risks[68]. - The company has invested significantly in environmental facilities since 2013, achieving compliance with emission standards by 2018, although manufacturing costs have increased[110]. - The company plans to achieve a revenue of 2.7 billion yuan and a cost of 2.3 billion yuan for the year 2019, with an expected investment income of 170 million yuan[139]. - The company’s financial performance is impacted by the profitability of its subsidiaries, with a notable contribution from Sichuan Trust Co., Ltd.[132]. Future Outlook - The company aims to produce 80,000 tons of zinc ingots (zinc alloys), 250,000 tons of phosphate products, and 100,000 tons of compound fertilizers in 2019[139]. - The zinc industry in China accounts for approximately 50% of global electrolytic zinc production and consumption, with domestic supply expected to ease in 2019 due to the resumption of overseas mines[133]. - Phosphate rock prices have increased by approximately 45% since 2017, driven by production declines in major provinces and environmental regulations[136]. - The company plans to adjust production capacity utilization based on processing fee trends to meet its operational goals for 2019[110].

Financial Performance - Net profit attributable to shareholders of the listed company reached CNY 60,150,651.00, an increase of 448.12% year-on-year[11]. - Operating revenue for the period was CNY 619,079,603.59, down 35.21% from CNY 955,488,173.75 in the same period last year[11]. - Basic earnings per share were CNY 0.0296, an increase of 448.15% compared to CNY 0.0054 in the same period last year[11]. - Total revenue for the reporting period was CNY 619,079,603.59, a decrease of 35.21% compared to the previous year[22]. - Operating profit for Q1 2019 was CNY 79.38 million, a substantial increase from CNY 4.18 million in Q1 2018, representing a growth of about 1,797.5%[59]. - Net profit for Q1 2019 reached CNY 60.18 million, compared to CNY 29.78 million in the same period last year, marking a significant increase of approximately 102.5%[56]. - Total comprehensive income for Q1 2019 was CNY 80.20 million, compared to CNY 29.09 million in Q1 2018, indicating a growth of approximately 175.5%[59]. Cash Flow - Net cash flow from operating activities was CNY 55,263,001.74, a decrease of 78.72% compared to CNY 259,656,185.25 in the previous year[11]. - The company reported cash and cash equivalents of ¥315,008,757.24 as of March 31, 2019, down from ¥504,701,748.34 on December 31, 2018, representing a decrease of approximately 37.4%[39]. - Cash flow from operating activities for Q1 2019 was RMB 55,263,001.74, a decrease of 78.7% compared to RMB 259,656,185.25 in Q1 2018[66]. - Total cash inflow from operating activities was RMB 489,948,489.41, down 62.4% from RMB 1,302,691,862.77 in the same period last year[66]. - Cash outflow for purchasing goods and services was RMB 337,555,066.27, a reduction of 48.9% compared to RMB 660,026,845.06 in Q1 2018[66]. - The net increase in cash and cash equivalents for Q1 2019 was RMB 20,548,353.10, a decrease of 74.3% from RMB 79,971,894.65 in Q1 2018[68]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,643,122,292.40, a decrease of 3.36% compared to the end of the previous year[11]. - Total current assets amounted to ¥884,342,798.50, down from ¥1,095,935,135.73, a decrease of approximately 19.3%[39]. - Total liabilities decreased to ¥2,301,293,095.05 from ¥2,542,708,443.89, indicating a decline of approximately 9.5%[45]. - The company's equity attributable to shareholders increased to ¥2,297,978,338.79 from ¥2,217,810,692.78, reflecting an increase of about 3.6%[45]. - Total liabilities decreased to $2,295,609,530.10 from $2,544,574,604.08, a reduction of 9.8%[51]. - Total equity stands at $2,533,957,495.71, with paid-in capital of $2,032,000,000.00 and retained earnings showing a deficit of $3,490,742,421.43[88]. Shareholder Information - The total number of shareholders at the end of the reporting period was 112,829[15]. - The largest shareholder, Sichuan Hongda Industrial Co., Ltd., held 546,237,405 shares, accounting for 26.88% of the total shares[15]. - The company is committed to maintaining the legitimate rights and interests of all shareholders, particularly small and medium-sized shareholders[35]. Strategic Initiatives - The company plans to reduce or delay expenditures and control costs to enhance innovation and optimize product structure[30]. - The company has signed a financial support agreement with banks to ensure stable credit limits and normal loan turnover[30]. - The company aims to eliminate uncertainties affecting its ongoing operations and will disclose updates on related cases in a timely manner[35]. - The company did not disclose any new product developments or market expansion strategies in this report[11]. Audit and Compliance - The company’s financial statements received a "going concern" emphasis from auditors, indicating significant uncertainties regarding future operations[26]. - The company has received an unqualified audit report with a significant emphasis on the uncertainty regarding its ability to continue as a going concern[32].

2018 年第三季度报告 公司代码：600331 公司简称：宏达股份 四川宏达股份有限公司 2018 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 10 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人黄建军、主管会计工作负责人帅巍及会计机构负责人（会计主管人员）帅巍保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 5 / 21 3 / 21 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 9,368,761,936.75 9,523,569,425.92 -1.63% 归属于上市公司股东的 ...

Financial Performance - The company's operating revenue for the first half of the year reached ¥2,401,107,521.54, representing a 12.32% increase compared to ¥2,137,811,480.41 in the same period last year[23]. - The net profit attributable to shareholders decreased significantly by 89.67% to ¥12,927,714.12 from ¥125,122,025.20 year-on-year[23]. - The basic earnings per share dropped by 89.61% to ¥0.0064, down from ¥0.0616 in the previous year[25]. - The weighted average return on equity fell by 2.35 percentage points to 0.26% compared to 2.61% in the same period last year[25]. - The company reported a net cash flow from operating activities of ¥274,086,915.18, a significant improvement from a negative cash flow of ¥178,306,906.93 in the previous year[24]. - The company's total operating revenue for the first half of 2018 reached ¥2,401,107,521.54, an increase of 12.3% compared to ¥2,137,811,480.41 in the same period last year[150]. - Total operating costs amounted to ¥2,322,652,121.77, up from ¥1,934,833,098.00, reflecting a year-over-year increase of 20.1%[151]. - Net profit for the first half of 2018 was ¥73,384,082.30, a decrease of 65.4% compared to ¥212,292,822.92 in the previous year[151]. Legal and Litigation Risks - The company is facing significant civil litigation risks, with a first-instance judgment that may impact its financial status and operating results[6]. - If the second-instance judgment upholds the first-instance ruling, the company may need to return profits totaling RMB 1,620,733,822, which includes RMB 496,342,200 already paid in capital increase[7][10]. - The company has appealed the first-instance judgment to the Supreme People's Court, seeking to protect the interests of all shareholders, especially minority shareholders[8]. - The company is involved in a lawsuit that has resulted in the freezing of various assets, including cash and equity stakes[51]. - The company is facing a lawsuit that could impact its financial stability and operational capabilities due to asset freezes and potential liabilities[82]. - The court's ruling could lead to significant financial repercussions for the company, affecting its cash flow and investment strategies[83]. - The company has not recognized any estimated liabilities or potential losses related to the litigation due to the complexity and uncertainty of the case[92]. - The company is involved in a significant lawsuit with a total claim amounting to RMB 2,117,076,022.00[95]. Asset Management and Financial Position - The company's cash balance of RMB 210,242,161.00 is currently frozen due to legal disputes[50]. - The total book value of long-term equity investments amounts to RMB 1,975,909,526.78, which is also frozen[49]. - The company holds a 60% equity stake in Jinding Zinc Industry, which may not be included in the consolidated financial statements if the ruling is upheld[9]. - The potential loss in the consolidated financial statements could amount to RMB 1,324,133,900 if the ruling is maintained[9]. - The company holds a 60% equity stake in Yunnan Jinding Company, which may result in a potential loss of RMB 1,233,604.6 thousand in consolidated financial statements if the court ruling is unfavorable[89]. - The company has a total of 2,032,000,000.00 in share capital, remaining unchanged from the previous year[171]. Operational and Strategic Initiatives - The company has established strategic partnerships with several research institutions to enhance its technological capabilities in resource recycling and comprehensive utilization[35]. - The company is actively implementing technological upgrades and equipment modifications to improve efficiency and reduce costs[39]. - The company is focusing on market research and team building to enhance product sales and brand influence, aiming to expand market share[41]. - The company is pursuing joint ventures and collaborations to achieve a balance in the production and sales of phosphogypsum, thereby reducing environmental risks[40]. - The company has made significant investments in technological upgrades, including RMB 19,686,854.88 for the Yunnan Jinding workshop renovation project[61]. Environmental Compliance and Management - The company and its subsidiaries are classified as key pollutant discharge units, strictly adhering to national environmental protection laws and regulations[114]. - The main pollutants discharged include sulfur dioxide, nitrogen oxides, and particulate matter, with specific emissions managed according to national standards[115]. - The company has implemented pollution control measures and has not faced penalties from environmental authorities during the reporting period[114]. - The company has developed an emergency response plan for environmental incidents, which is filed with local environmental protection agencies[121]. - The company has complied with national environmental laws and regulations for all construction projects, ensuring legal and regulatory compliance[120]. Shareholder and Corporate Governance - The company emphasizes the importance of maintaining shareholder rights, particularly for minority shareholders, in light of ongoing litigation[103]. - The company has pledged to avoid and minimize related party transactions to protect shareholder interests[78]. - The company will adhere to legal regulations and company bylaws when exercising shareholder rights and will avoid conflicts of interest during voting on related party transactions[77]. - The company has committed to minimizing related party transactions and ensuring they are conducted at fair market prices[77]. - The company has not experienced any changes in accounting policies or significant accounting errors during the reporting period[128].