股票简称：红星发展 股票代码：600367 编号：临 2022-019 贵州红星发展股份有限公司 关于举办 2021 年度业绩说明会暨投资者集体接待日 活动预告公告 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： 网上交流时间：2022 年 5 月 13 日 09:30 至 11:30 活动交流方式：网络形式 一、说明会类型 本次说明会为公司 2021 年度网上业绩说明会。公司已于 2022 年 4 月 22 日 在上海证券报和上海证券交易所网站披露了公司 2021 年年度报告。对此，公司 根据贵州证券业协会《关于举办 2021 年度贵州辖区上市公司业绩说明会暨专题 培训的通知》，决定举办公司 2021 年度网上业绩说明会暨投资者集体接待日活 动。 二、说明会召开的时间和方式 投资者参与本次网上业绩说明会暨投资者集体接待日活动的网上交流时间 为 2022 年 5 月 13 日 09:30 至 11:30，交流方式为网络形式。 三、公司参加人员 公司总经理梁启波，董事长助理、财务总监万洋，董事会秘书陈国强出 ...

Financial Performance - The company's operating revenue for Q1 2022 was CNY 594,653,765.48, representing a year-on-year increase of 56.06%[5] - The net profit attributable to shareholders of the listed company reached CNY 83,432,004.30, a significant increase of 553.10% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 82,507,683.94, reflecting a year-on-year increase of 668.02%[5] - The basic earnings per share for the period was CNY 0.287, up 552.27% year-on-year[5] - Operating profit for Q1 2022 was ¥107,187,630.09, up from ¥18,445,382.47 in Q1 2021, reflecting a growth of 480.5%[27] - Net profit attributable to shareholders of the parent company for Q1 2022 was ¥83,432,004.30, compared to ¥12,774,787.40 in Q1 2021, marking an increase of 553.5%[28] - Basic and diluted earnings per share for Q1 2022 were both ¥0.287, compared to ¥0.044 in Q1 2021, reflecting a growth of 552.3%[29] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,414,766,472.02, an increase of 3.09% from the end of the previous year[5] - The total number of common shareholders at the end of the reporting period was 48,020[14] - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., holds 105,067,336 shares, accounting for 35.83% of total shares[15] - The company's cash and cash equivalents decreased to ¥403,590,476.77 from ¥427,201,428.68 at the end of 2021, a decline of approximately 5.5%[20] - Accounts receivable increased to ¥353,253,919.81 from ¥270,700,160.98, representing a growth of about 30.5% year-over-year[20] - Inventory rose to ¥459,690,298.32, up from ¥436,954,136.69, indicating an increase of approximately 5.2%[20] - Current liabilities decreased slightly to ¥557,830,687.07 from ¥584,811,385.58, a reduction of about 4.6%[22] - Total liabilities decreased to ¥584,270,296.68 in Q1 2022 from ¥611,677,267.63 in Q1 2021, a reduction of 4.8%[23] - The total equity attributable to shareholders of the parent company increased to ¥1,726,040,977.48 in Q1 2022 from ¥1,641,048,161.31 in Q1 2021, an increase of 5.2%[23] Cash Flow - The net cash flow from operating activities was negative at CNY -35,218,180.45, indicating a decrease compared to the previous year[5] - The company reported a net cash inflow from operating activities of ¥413,638,288.43 in Q1 2022, compared to ¥271,803,744.70 in Q1 2021, representing a growth of 52.1%[31] - The net cash flow from operating activities was -$35.22 million, compared to -$22.79 million in the previous year, indicating a decline in operational performance[32] - Total cash outflow from operating activities amounted to $448.86 million, up from $294.60 million year-over-year[32] - Cash inflow from financing activities was $36.20 million, a decrease from $40.00 million in the previous year[33] - The net cash flow from financing activities was $18.68 million, compared to -$1.65 million in the previous year, showing an improvement[33] - The company raised $6.20 million from minority shareholders during the quarter, which was not present in the previous year[33] - Cash and cash equivalents at the end of the period totaled $381.06 million, down from $404.67 million at the beginning of the period[33] - The cash flow from investment activities was negative at -$7.20 million, compared to -$15.50 million in the previous year, indicating reduced investment outflows[32] - The company paid $10.00 million in debt repayment, down from $40.00 million in the previous year, reflecting a decrease in debt servicing[33] - The company experienced a net decrease in cash and cash equivalents of $23.61 million, compared to a decrease of $39.84 million in the previous year[33] Operational Challenges and Strategies - The company experienced a significant increase in sales prices of key products such as barium carbonate and lithium carbonate, contributing to revenue growth[11] - The company faced challenges in sourcing barite for barium salt production due to reduced upstream mining activity, leading to increased procurement costs[17] - The company implemented measures to expand ore supply channels and adjust sales strategies to mitigate risks associated with increased production costs[17] Government Support - The company received government subsidies totaling CNY 1,581,077.12 during the reporting period, which included various project funds[8] Research and Development - Research and development expenses increased to ¥767,316.55 in Q1 2022 from ¥12,427.55 in Q1 2021, indicating a significant investment in innovation[26] Asset Quality - The company reported a credit impairment loss of ¥-7,072,185.48 in Q1 2022, compared to a gain of ¥1,838,228.39 in Q1 2021, indicating a shift in asset quality[27] - Deferred income tax liabilities decreased to ¥1,785,008.37 in Q1 2022 from ¥1,859,530.80 in Q1 2021, a decline of 4.0%[23]

Financial Performance - The company reported a total distributable profit of RMB 667,076,290.70 as of December 31, 2021[5]. - The company's operating revenue for 2021 was CNY 2,195,466,084.13, representing a year-on-year increase of 59.36% compared to CNY 1,377,647,243.65 in 2020[26]. - The net profit attributable to shareholders for 2021 was CNY 263,071,485.09, a significant increase of 377.41% from CNY 55,103,500.62 in 2020[26]. - The basic earnings per share for 2021 was CNY 0.90, up 373.68% from CNY 0.19 in 2020[28]. - The total assets at the end of 2021 were CNY 2,342,426,926.25, reflecting a 15.43% increase from CNY 2,029,365,232.21 at the end of 2020[27]. - The net cash flow from operating activities for 2021 was CNY 257,762,040.30, a substantial increase of 769.65% compared to CNY 29,639,641.62 in 2020[27]. - The weighted average return on equity for 2021 was 17.48%, an increase of 13.42 percentage points from 4.06% in 2020[28]. - The company reported a net profit of CNY 126,509,124.53 in Q4 2021, which was the highest quarterly profit for the year[30]. - The total net assets attributable to shareholders at the end of 2021 were CNY 1,641,048,161.31, an 18.92% increase from CNY 1,379,961,776.78 at the end of 2020[27]. Dividend Distribution - The proposed cash dividend distribution is RMB 1.00 per 10 shares, totaling RMB 29,323,660 (including tax), which represents 11.15% of the net profit attributable to shareholders for 2021[5]. - The cash dividend ratio for the year 2021 is 11.15% of the net profit attributable to shareholders[198]. - The independent directors support the profit distribution plan, emphasizing the balance between shareholder returns and future funding needs[199]. - The profit distribution plan aligns with the company's three-year shareholder return strategy (2021-2023) and relevant legal regulations[199]. - The company will adjust the total cash dividend amount if there are changes in total share capital due to stock buybacks or other factors[198]. Operational Strategy and Market Expansion - The company plans to continue expanding its market presence and investing in new product development to sustain growth in the coming years[26]. - The company plans to enhance its product quality and expand its market presence in response to increasing customer demands for high-performance products[40]. - The company is focusing on innovation and upgrading its management processes to improve operational efficiency and sustainability[42]. - The company plans to continue expanding its product offerings and enhancing research and development efforts to drive future growth[56]. - The company is actively pursuing innovation in product development to increase the proportion of high-value-added products in response to the rapid growth of the new energy sector[147]. - The company is expanding its market presence, targeting a 25% increase in market share in the next two years[171]. Risks and Challenges - The company faces potential risks including environmental regulation, raw material price increases, and talent retention[11]. - The company faced challenges with raw material supply and increased procurement costs, leading to a historical high in external mineral procurement volume[49]. - The company is facing risks related to rising raw material and fuel prices, which significantly impact production costs[149]. - The company faces a talent acquisition risk due to a shortage of high-end professionals, particularly in new product development and refined management[150]. Research and Development - Research and development expenses surged by 294.17% year-on-year, amounting to CNY 2,070,905.74[56]. - The total R&D investment was 61.09 million yuan, representing 2.78% of the company's operating revenue for 2021[74]. - The company has implemented an annual training plan to improve the overall quality and operational skills of its employees[195]. - The company submitted 8 patent applications during the reporting period, with 3 patents granted, including two invention patents[98]. Environmental and Sustainability Efforts - The company implemented various environmental protection measures, achieving a 100% comprehensive utilization rate of solid waste in its subsidiary, Dazhu Hongdie[49]. - The production process for Barium Carbonate and Barium Sulfate has achieved zero emissions through comprehensive waste utilization[99][101]. - The company aims to enhance its safety and environmental management systems, implementing a comprehensive safety production control system[140]. - The management emphasized a commitment to sustainability, aiming for a 40% reduction in carbon emissions by 2025[171]. Governance and Compliance - The company adheres to legal and regulatory requirements in its governance structure, ensuring independent operation of the board and supervisory committee[153]. - The company emphasizes transparency in information disclosure, ensuring all shareholders have equal access to information[156]. - The company has not faced any penalties from securities regulatory agencies in the past three years[178]. - The company’s board of directors has been re-elected and new members appointed during the annual shareholder meetings[176]. Financial Audit and Reporting - The company’s financial report received a standard unqualified audit opinion from Zhongxinghua Accounting Firm[5]. - The audit report for the 2020 financial statements was issued by Zhongxinghua Accounting Firm, confirming the accuracy and completeness of the company's financial status and operations[185]. - The audit committee found no significant risks related to investment income recognition and operating revenue recognition that would impact the company[186].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 544,496,408.41, representing a year-on-year increase of 65.59%[5] - The net profit attributable to shareholders for the same period was CNY 68,683,969.15, with a year-to-date net profit of CNY 136,562,360.56, reflecting a year-on-year increase of 61.93%[5] - The basic and diluted earnings per share for Q3 2021 were both CNY 0.24[6] - The company's operating revenue increased by 61.93% year-to-date compared to the same period last year, primarily due to increased sales volume and prices of products such as strontium, sulfur, and battery-grade lithium carbonate[12] - The net profit attributable to the parent company increased significantly, driven by higher sales volumes and prices of key products including barium carbonate and lithium carbonate, as well as reduced investment losses and bad debt losses[12] - Total operating revenue for the first three quarters of 2021 reached ¥1,455,394,571.74, a significant increase from ¥898,797,869.49 in the same period of 2020, representing a growth of approximately 62%[31] - Net profit for the first three quarters of 2021 was ¥164,519,872.45, a turnaround from a net loss of ¥17,445,638.56 in the same period of 2020[32] - Total comprehensive income for the first three quarters of 2021 was ¥160,569,872.45, compared to a loss of ¥17,445,638.56 in 2020, indicating a significant recovery[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,287,795,034.76, marking a 12.73% increase from the end of the previous year[6] - The company's total assets amounted to RMB 2,287,795,034.76, an increase from RMB 2,029,365,232.21 at the end of 2020[24][28] - The company's current assets as of September 30, 2021, totaled RMB 1,411,316,903.72, compared to RMB 1,128,507,668.64 at the end of 2020, reflecting a growth of approximately 25%[26] - The company's total liabilities as of September 30, 2021, were RMB 682,941,453.53, up from RMB 584,480,916.71 at the end of 2020[28] - The total cash and cash equivalents at the end of Q3 2021 amounted to ¥380,123,444.16, up from ¥300,682,967.80 at the end of Q3 2020[40] - The company reported a total of ¥488,373,849.02 in current liabilities as of Q3 2021[45] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,191[16] - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., holds 105,067,336 shares, accounting for 35.82% of the total shares[16] - The equity attributable to shareholders increased to CNY 1,511,481,213.97, a rise of 9.53% compared to the previous year[6] - The total equity attributable to shareholders was ¥1,379,961,776.78 as of Q3 2021[46] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 146,174,012.05[6] - The net cash flow from operating activities increased by 3,377.64 thousand yuan year-to-date, attributed to higher sales volumes and prices, leading to increased sales revenue and improved cash collection[13] - The company reported a net cash flow from operating activities of ¥146,174,012.05 for the first three quarters of 2021, compared to ¥4,203,253.72 in 2020, showing a substantial improvement[39] - Cash inflow from operating activities totaled ¥999,217,132.86 in the first three quarters of 2021, compared to ¥548,365,931.04 in 2020, marking an increase of approximately 82%[39] Government Subsidies and Gains - Non-recurring gains and losses for the reporting period included CNY 1,491,500.50 from government subsidies closely related to the company's normal business operations[9] - The company received various government subsidies totaling CNY 1,557,554.85 for supporting projects and market expansion[9] - The company has benefited from tax rebates amounting to 2,119,140.54 yuan due to compliance with government regulations on resource utilization products[12] Strategic Initiatives - The company’s strategic focus includes enhancing product offerings and expanding market reach, although specific new products or technologies were not detailed in the report[12] - The company plans to publicly transfer its 31.92% equity and debt in Qingdao Hongxing Logistics to optimize its industrial layout and focus on core business[19] - The company is actively cooperating with relevant parties to complete the property certificate for Hongxing Logistics, with updates to be disclosed in a timely manner[21] Research and Development - Research and development expenses increased to ¥1,057,434.63 in the first three quarters of 2021, up from ¥352,366.35 in 2020, reflecting a growth of approximately 200%[31] Debt and Financing - The company paid ¥50,000,000.00 for debt repayment in Q3 2021, compared to ¥8,000,000.00 in Q3 2020[40] - The company secured ¥40,000,000.00 in cash from financing activities in 2021, doubling the amount from ¥20,000,000.00 in 2020, reflecting enhanced financing capabilities[39] - The net cash flow from financing activities was negative at -¥32,119,567.86 in Q3 2021, compared to -¥15,311,947.50 in Q3 2020[40] Inventory - The company has a total inventory of RMB 433,219,525.10 as of September 30, 2021, compared to RMB 320,033,998.25 at the end of 2020, indicating a significant increase[24]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥910,898,163.33, representing a 59.81% increase compared to ¥569,975,862.42 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥67,878,391.41, a significant recovery from a loss of ¥6,570,795.49 in the previous year[23]. - The net cash flow from operating activities was ¥72,358,902.59, improving from a negative cash flow of ¥19,634,256.68 in the same period last year[23]. - Total profit amounted to ¥90,114,676.00, a significant recovery from a loss of ¥6,271,653.68 in the previous year[44]. - The company reported a net cash flow from operating activities of ¥72,358,902.59, recovering from a negative cash flow of ¥19,634,256.68[44]. - Operating profit for the first half of 2021 was ¥91,573,100.87, recovering from a loss of ¥6,158,328.59 in the first half of 2020[160]. - Net profit for the first half of 2021 was ¥80,885,262.12, compared to a net loss of ¥9,658,874.67 in the first half of 2020, indicating a strong turnaround[161]. Assets and Liabilities - The total assets of the company increased by 5.08% to ¥2,132,553,478.26 compared to ¥2,029,365,232.21 at the end of the previous year[23]. - Total liabilities increased to CNY 610,894,526.03, up from CNY 584,480,916.71, representing a growth of approximately 5.7%[150]. - Total equity attributable to shareholders rose to CNY 1,443,589,669.74, compared to CNY 1,379,961,776.78, reflecting an increase of about 4.6%[151]. - Cash and cash equivalents rose by 8.91% to RMB 325,596,493.49, accounting for 15.27% of total assets[61]. - Accounts receivable increased by 10.78% to RMB 218,217,789.97, representing 10.23% of total assets[61]. - Inventory slightly increased by 0.76% to RMB 322,477,097.18, making up 15.12% of total assets[61]. Production and Sales - The company has a barium carbonate production capacity of nearly 300,000 tons/year, with a production of 122,200 tons in the first half of 2021, an increase of 13,000 tons year-on-year, and sales of 125,200 tons, an increase of 15,200 tons year-on-year[34]. - The company’s sulfate barium production capacity is approximately 60,000 tons/year, achieving a production of 32,200 tons in the first half of 2021, an increase of 10,300 tons year-on-year, and sales of 31,400 tons, an increase of 9,500 tons year-on-year[35]. - The company’s strontium carbonate production capacity is 30,000 tons/year, with a production of 10,700 tons in the first half of 2021, remaining stable compared to the same period in 2020, and sales of 10,800 tons, a year-on-year increase of 37%[36]. - The company’s electrolytic manganese dioxide production capacity is 30,000 tons/year, with a production of 12,100 tons in the first half of 2021, an increase of 1,100 tons year-on-year, and sales of 13,900 tons, an increase of 4,300 tons year-on-year[38]. Research and Development - The company reported a 176.32% increase in R&D expenses, totaling ¥656,136.62, reflecting a commitment to new product development[56]. - The company is focusing on high-value-added products, enhancing production and R&D of high-purity barium carbonate and lithium carbonate[50]. - The company has established a high-level product technology R&D platform, with its subsidiaries recognized as high-tech enterprises, promoting innovation activities to enhance product quality[40]. Environmental and Social Responsibility - The company is committed to sustainable development by enhancing its internal environment and organizational efficiency through management innovation and talent development[41]. - The company has implemented strict safety and environmental measures, including investments in new monitoring systems and compliance with national regulations[51]. - The company’s commitment to environmental and social responsibility is noted, although specific initiatives were not detailed in the provided content[82]. - The company has established automatic online monitoring systems for air and wastewater emissions, ensuring compliance with environmental standards[90]. Market and Competition - The company faces risks including environmental protection, rising raw material prices, and intensified domestic competition[8]. - The company is actively pursuing market expansion and has added dozens of new domestic and international customers in the first half of 2021[54]. - The company is closely monitoring industry dynamics and strengthening ties with downstream customers to identify new growth opportunities[54]. Corporate Governance and Shareholder Matters - The company has undergone changes in its board of directors, with new independent directors elected and several senior management personnel appointed[75]. - The total amount of non-operating funds occupied by controlling shareholders and other related parties at the end of the reporting period was RMB 15.96 million, accounting for 0.01% of the latest audited net assets[101]. - The company has not reported any progress on its stock incentive plans since their initial announcement[77]. - The company’s actions regarding the cancellation of reserved restricted stock in January 2019 reflect a strategic decision to optimize its equity structure[79]. Challenges and Risks - The company is facing challenges such as tight supply of barite, rising coal prices, and increased competition in the sulfate barium market[35]. - The company faced rising raw material prices and supply risks, particularly for barite, celestite, manganese ore, coal, and electricity, leading to increased procurement difficulties[68]. - Export volumes decreased due to high shipping costs, while domestic competition intensified, impacting product pricing and availability[68].

Financial Performance - Net profit attributable to shareholders reached CNY 12,774,787.40, a significant turnaround from a loss of CNY 10,618,676.54 in the same period last year[9] - Operating revenue for the quarter was CNY 381,048,074.00, representing a 52.84% increase year-on-year[9] - Basic and diluted earnings per share were both CNY 0.044, compared to a loss of CNY 0.036 in the same period last year[9] - The total operating profit for Q1 2021 was ¥17,781,310.97, compared to a loss of ¥3,529,279.18 in Q1 2020, indicating a significant recovery[41] - The net profit for Q1 2021 reached ¥14,394,216.77, while the company reported a net loss of ¥3,082,186.32 in the same period last year, reflecting a turnaround in financial performance[41] - The total comprehensive income for Q1 2021 was ¥13,394,216.77, compared to a loss of ¥3,082,186.32 in Q1 2020, showcasing improved overall financial health[42] Cash Flow - The net cash flow from operating activities improved to -CNY 22,792,876.14, compared to -CNY 51,543,489.61 in the previous year[9] - Cash inflows from operating activities amounted to ¥271,803,744.70 in Q1 2021, up from ¥236,890,449.39 in Q1 2020, representing a year-over-year increase of approximately 14.7%[45] - The net cash flow from operating activities was -¥22,792,876.14 in Q1 2021, an improvement from -¥51,543,489.61 in Q1 2020, indicating a narrowing of cash flow losses[46] - The company reported a cash flow from investing activities of -¥15,498,548.31 in Q1 2021, which is an improvement from -¥16,487,835.62 in Q1 2020, indicating better management of investment cash flows[46] - The net cash flow from investing activities was -4,300,895.41 RMB, compared to -10,204,300.77 RMB in the previous period, indicating an improvement of approximately 58.9%[51] - The net increase in cash and cash equivalents was 3,772,196.16 RMB, contrasting with a decrease of 49,011,337.93 RMB in the prior period, showing a significant recovery[51] Assets and Liabilities - Total assets increased by 1.59% to CNY 2,061,562,503.40 compared to the end of the previous year[9] - The company's total liabilities increased to ¥208,501,966.12 in Q1 2021 from ¥190,266,303.30 in Q1 2020, representing a growth of 9.7%[32] - Total current assets increased to ¥1,165,223,316.12 as of March 31, 2021, up from ¥1,128,507,668.64 at the end of 2020, representing a growth of approximately 3.1%[26] - Total liabilities amounted to ¥601,893,163.30, up from ¥584,480,916.71, indicating a rise of 3.5%[28] - The company's equity attributable to shareholders increased to ¥1,393,453,762.88 from ¥1,379,961,776.78, a growth of 1.0%[28] Shareholder Information - The total number of shareholders was 26,749 at the end of the reporting period[12] - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., held 35.56% of the shares[13] Government Subsidies and Other Income - The company received various government subsidies totaling CNY 3,015,037.96 during the quarter[10] - Other income rose by 115.16% to RMB 3,133,406, primarily due to increased government subsidies received[15] Research and Development - Research and development expenses decreased by 89.79% to RMB 12,427.55, reflecting reduced investment in R&D activities[14] - Research and development expenses decreased to ¥12,427.55 in Q1 2021 from ¥121,664.52 in Q1 2020, a reduction of 89.8%[35] Market Conditions and Future Outlook - The company anticipates better overall operating conditions in H1 2021 compared to the same period in 2020, driven by increased demand and sales volume[22] - The company decided to terminate its non-public issuance of A-shares originally planned in 2018, citing changes in market conditions and project progress[18] Leasing Standards - The total assets increased significantly due to the implementation of new leasing standards, with right-of-use assets amounting to RMB 9,283,807[17] - The company executed the new leasing standards starting January 1, 2021, impacting the financial statements accordingly[53] - The company adopted new leasing standards effective January 1, 2021, impacting financial reporting[63] - No significant adjustments were made to prior period comparative data under the new leasing standards[64]

Financial Performance - The company's operating revenue for 2020 was ¥1,377,647,243.65, a decrease of 9.57% compared to ¥1,523,390,234.14 in 2019[25]. - The net profit attributable to shareholders for 2020 was ¥55,103,500.62, down 26.31% from ¥74,780,720.69 in 2019[25]. - The total profit for 2020 was CNY 64.95 million, down 34.77% from CNY 99.56 million in the previous year[57]. - The basic earnings per share decreased by 26.92% to 0.19 RMB from 0.26 RMB in 2019[27]. - The weighted average return on equity dropped to 4.06%, a decrease of 1.66 percentage points from 5.72% in 2019[27]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -24,449,477.06 RMB, a decrease of 133.63% compared to the previous year[26]. - The net cash flow from operating activities was 29,639,641.62 RMB, down 45.64% from 54,521,396.39 RMB in 2019[26]. - The company reported a significant increase in credit impairment losses, amounting to ¥23,125,045.36, compared to a recovery of losses in the previous year[72]. - The company reported a total revenue of CNY 911,985,986.05 in the inorganic salt industry, with a gross margin of 15.14%, reflecting a year-over-year decrease of 5.38% in revenue[136]. - The manganese salt industry generated revenue of CNY 264,942,930.69, with a gross margin of -7.18%, showing a significant year-over-year decline of 26.85% in revenue[136]. Dividend and Profit Distribution - The total distributable profit as of December 31, 2020, was ¥572,843,318.02, with a proposed cash dividend of ¥0.20 per 10 shares, totaling approximately ¥590.96 million[5]. - The cash dividend payout ratio for 2020 was 10.72% of the net profit attributable to shareholders[5]. - The net profit attributable to ordinary shareholders for 2020 was reported at 55,103,500.62 RMB, with a profit distribution ratio of 10.72%[182]. - The cash dividend policy remained unchanged during the reporting period, aligning with regulations and ensuring the protection of minority shareholders' rights[178]. - The independent directors noted that despite challenges from the pandemic and declining product prices, the company maintained a stable overall operation and proposed a cash dividend of 0.20 RMB per share for 2020[179]. Risks and Challenges - The company has identified several risks, including environmental protection risks and raw material price fluctuations, which may impact future performance[8]. - The company faced significant challenges due to the COVID-19 pandemic but managed to maintain stable production and operations while exploring new market opportunities[55]. - The company faces risks related to environmental regulations and raw material price fluctuations, which could impact production costs[172][174]. - The company faced risks related to low product export volumes due to ongoing COVID-19 pandemic impacts, leading to insufficient demand from foreign customers and increased shipping costs[175]. - There is a risk in attracting and retaining key technical personnel, as the company has invested significantly in automation upgrades but has not kept pace with training[175]. Production and Sales - The company’s main business includes the R&D, production, and sales of barium salts, strontium salts, and manganese products, which are essential materials in various industries[36]. - The company reported a quarterly revenue of 480,437,026.87 RMB in Q4 2020, with a significant increase compared to previous quarters[31]. - The company reported a significant decrease in accounts receivable by 96.30%, from CNY 29,358,146.36 to CNY 1,085,280.00[46]. - The sales volume of barium carbonate decreased by 8.66%, while the sales volume of manganese dioxide decreased by 18.98% year-on-year[79]. - The production of barium carbonate decreased year-on-year due to the impact of COVID-19 and reduced demand from downstream industries, while sales volume increased due to proactive market adjustments and increased sales efforts[80]. - The company’s barium carbonate production in 2020 was 231,400 tons, a decrease of 2,200 tons from 2019, while sales increased by 1,990 tons to 253,000 tons[152]. - The company’s sulfate barium production in 2020 was 50,800 tons, an increase of 750 tons from 2019, with sales rising by 740 tons to 56,000 tons[156]. - The company’s strontium carbonate production in 2020 was 23,400 tons, an increase of 1,900 tons from 2019, with sales rising by 400 tons to 23,800 tons[157]. Research and Development - The company holds 66 patents, including 6 utility model patents, reflecting its commitment to innovation and technology development[50]. - The company invested approximately 47 million RMB in R&D in 2020, accounting for 3.41% of its annual revenue[116]. - The company plans to enhance R&D investment in high-value-added products to find new profit growth points, focusing on market and technology communication[163]. - The company has integrated "Five Small" innovation activities into its operations, enhancing overall innovation awareness[94]. - The number of R&D personnel was 373, accounting for 13.51% of the total workforce[93]. Financial Management - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not reported any instances of funds being occupied or overdue receivables during the reporting period[186]. - The company has not received any non-standard audit opinions from its accounting firm[187]. - The company has outstanding loans totaling RMB 32 million, which includes RMB 20 million and RMB 12 million borrowed in 2013 and 2014 respectively, with a court ruling mandating repayment[196]. - The company has filed a claim for debts against the bankrupt Guizhou Rongguang Mining Co., which has not yet repaid the loans as of September 2020[196]. Market Conditions - The overall supply-demand situation for strontium salt products remains weak, with challenges such as insufficient ore supply and increased competition from imported products[43]. - The company’s EMD industry faces intense competition, with no significant changes in price competition expected in the short term[43]. - The company is facing intensified competition in the barium carbonate market due to price competition among major players, including Guizhou Hongtai Chemical Co., Ltd.[152]. - The company has successfully developed new customers for barium carbonate products, achieving sales growth despite adverse market conditions[152]. Legal Matters - The company is involved in a significant lawsuit regarding loan recoveries totaling CNY 12 million, with a court ruling in favor of the company[194]. - The company has initiated enforcement actions against the defendant for the recovery of the loan amount, which includes a court-ordered seizure of land[195]. - The company has reported a total of RMB 10,901,743.26 in uncollectible debts from Henan Anfei Electronic Glass Co., which has completed bankruptcy proceedings[198]. - The company has also reported RMB 3,579,031.62 in debts from Henan Anfei Electronic Glass Co., which is similarly in bankruptcy, with no expected impact on the company's financials due to prior provisions for bad debts[199].

Financial Performance - Operating revenue for the first nine months was CNY 897,210,216.78, down 21.61% year-on-year[7]. - Net profit attributable to shareholders of the listed company was a loss of CNY 13,786,133.07, representing a decrease of 123.71% compared to the same period last year[7]. - The net profit attributable to the parent company decreased by 123.71% compared to the same period last year, resulting in a loss of ¥13,786,133.07[16]. - The company reported a loss of CNY 22,345,225.94 for net profit attributable to shareholders after deducting non-recurring gains and losses, a decrease of 140.45% year-on-year[7]. - The company expects a significant decline in operating profit for 2020 compared to 2019 due to increased competition, decreased sales volume and prices, and high procurement costs[24]. - The company reported a total comprehensive loss of ¥7,786,763.89 for Q3 2020, compared to a comprehensive income of ¥16,631,720.08 in Q3 2019[44]. - The net profit for the first three quarters of 2020 was ¥440.63 million, an increase of 2.2% from ¥430.69 million in the same period of 2019[35]. - The company's net loss attributable to shareholders for Q3 2020 was ¥7,215,337.58, compared to a profit of ¥15,039,863.57 in Q3 2019[44]. Cash Flow - The net cash flow from operating activities for the first nine months was CNY 4,203,253.72, a significant decline of 95.44% year-on-year[7]. - The net cash flow from operating activities decreased by 95.44% compared to the same period last year, totaling ¥4,203,253.72[16]. - Cash inflows from operating activities for the first three quarters of 2020 totaled CNY 548,365,931.04, a decrease of 30.3% from CNY 786,790,054.16 in the same period of 2019[53]. - The company reported a significant decrease in cash flow from operating activities, indicating potential challenges in revenue generation and operational efficiency[54]. - Cash outflows from investing activities amounted to CNY 42,104,137.02, compared to CNY 29,602,856.99 in the same period of 2019, marking an increase of 42%[54]. - The net cash flow from investing activities was negative CNY 27,794,374.39, slightly worse than the negative CNY 25,878,884.07 recorded in the same period last year[54]. - Cash inflows from financing activities were CNY 20,000,000.00, down 73.3% from CNY 75,000,000.00 in the previous year[55]. - The net cash flow from financing activities was negative CNY 15,311,947.50, contrasting with a positive CNY 37,248,785.71 in the same period of 2019[55]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,024,231,200.27, a decrease of 1.37% compared to the end of the previous year[7]. - The company’s total net assets attributable to shareholders were CNY 1,321,470,693.73, down 1.45% from the previous year[7]. - Current liabilities totaled RMB 587,684,828.43 as of September 30, 2020, compared to RMB 572,558,526.13 at the end of 2019[30]. - Total liabilities reached RMB 636,684,047.20, with current liabilities at RMB 572,558,526.13[64]. - The total liabilities to equity ratio stands at approximately 44.9%, indicating a balanced capital structure[64]. - The company has no non-current liabilities, indicating a low debt level[68]. Shareholder Information - The total number of shareholders is 27,291[13]. - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., holds 105,067,336 shares, accounting for 35.54% of the total shares[13]. Research and Development - Research and development expenses decreased by 38.91% compared to the same period last year, totaling ¥352,366.35[16]. - Research and development expenses for Q3 2020 were ¥114.91 thousand, a decrease of 55.4% compared to ¥257.64 thousand in Q3 2019[41]. - Research and development expenses for Q3 2020 were ¥4,802.71, significantly lower than ¥103,289.43 in Q3 2019[47]. Market Conditions - The company is facing challenges due to increased competition and declining sales prices of key products, impacting overall profitability[19]. - The company's operating revenue for Q3 2020 was ¥129,737,669.07, a decrease of 3.4% compared to ¥134,469,712.84 in Q3 2019[47]. - Total revenue for Q3 2020 was ¥328.29 million, a decrease of 15.6% compared to ¥389.27 million in Q3 2019[40]. - Total operating costs for Q3 2020 were ¥336.41 million, down 8.6% from ¥367.97 million in Q3 2019[40]. Equity and Investments - The company has waived its right of first refusal for the transfer of shares held by its affiliate, Hongdie Industrial, in Hongxing Logistics, constituting a related party transaction[23]. - The company executed new revenue and lease standards starting January 1, 2020, impacting financial reporting[64]. - The company implemented new revenue recognition standards starting January 1, 2020, affecting financial reporting[69].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥568,923,900.68, a decrease of 24.67% compared to ¥755,280,577.32 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2020 was -¥6,570,795.49, representing a decline of 115.24% from ¥43,101,374.05 in the previous year[21]. - The net cash flow from operating activities was -¥19,634,256.68, a significant drop of 119.44% compared to ¥100,977,236.81 in the same period last year[21]. - The total profit for the period was a loss of approximately ¥6.27 million, a decline of 110.64% from a profit of ¥58.92 million in the previous year[56]. - The company's cash flow from operating activities was negative at approximately ¥19.63 million, a decrease of 119.44% compared to ¥100.98 million in the previous year[56]. - The net profit attributable to shareholders was a loss of approximately ¥6.57 million, down 115.24% from a profit of ¥43.10 million in the same period last year[56]. - The total comprehensive loss for the first half of 2020 was ¥9,658,874.67, compared to a comprehensive income of ¥51,291,948.16 in the first half of 2019[183]. - The net profit for the first half of 2020 was CNY 9,090,548.03, a decrease from CNY 25,254,721.10 in the first half of 2019, representing a decline of approximately 64%[187]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,007,979,112.86, down 2.17% from ¥2,052,424,316.69 at the end of the previous year[21]. - The total assets at the end of the reporting period were approximately ¥2.01 billion, a decrease of 2.17% from ¥2.05 billion at the beginning of the year[56]. - The company's total liabilities amounted to ¥247,877,299.53, while total equity was ¥1,138,779,155.27, indicating a stable capital structure[184]. - The total equity at the end of the first half of 2020 was CNY 1,401,492,703.46, reflecting a decrease compared to the previous year[199]. - The total amount of guarantees provided by the company, excluding those to subsidiaries, is RMB 9,278.75 million, accounting for 18.64% of the company's net assets[130]. Business Operations - The main business includes the R&D, production, and sales of barium salts, strontium salts, and manganese products, with a focus on high-tech enterprises[28]. - Sales prices and volumes of key products such as barium carbonate and high-purity manganese sulfate declined due to weak demand and increased competition[36]. - The company adjusted production volumes in response to sales price and volume fluctuations, leading to an increase in unit production costs[36]. - The main profit contributors remain barium carbonate, barium sulfate, high-purity barium carbonate, strontium salts, and EMD products[38]. - The company has not made significant changes to its main business and product structure during the reporting period[37]. - The company’s procurement strategy involves stable supply channels and fair pricing through annual contracts with suppliers[30]. - The company utilizes a direct sales model for its products, with some sales through intermediaries based on market conditions[33]. - The company’s logistics include a combination of road, rail, and inland waterway transport, with a focus on cost efficiency in export operations[34]. Market Conditions and Risks - The report highlights potential risks including macroeconomic downturn, liquidity risks, and reduced market demand[6]. - The company faced significant pressure from high labor, logistics, and energy costs, as well as strict safety and environmental regulations, which narrowed profit margins across its product lines[41]. - The company emphasized the importance of innovation, quality management, and cost control to enhance its competitive advantage during the challenging market conditions[45]. - The company is experiencing reduced export volumes due to the impact of the COVID-19 pandemic on international clients[95]. - The company anticipates a substantial decline in operating profit for the period from January to September 2020 compared to the same period in 2019 due to increased global economic pressures and reduced market demand[91]. Environmental and Social Responsibility - The company has initiated environmental protection projects with a total investment of RMB 33.89 million, focusing on waste recovery and treatment[81]. - The company donated over 14,430 masks and 100 kilograms of disinfectants, along with 60,000 yuan in cash to support pandemic prevention efforts[135]. - The company spent RMB 477,900 on targeted poverty alleviation efforts in the first half of 2020, helping 54 registered impoverished individuals find employment[133]. - The company is classified as a national-controlled environmental management enterprise, with its subsidiary being a provincial-controlled environmental management enterprise[138]. - The average concentration of particulate matter emissions was recorded at 16.047 mg/m3, with a total discharge of 11.278 tons[138]. Corporate Governance and Compliance - The company appointed Zhongxinghua Certified Public Accountants as the auditor for the 2020 financial statements[109]. - The company has ongoing significant litigation involving Rongguang Mining, with a total loan amount of RMB 12 million due for repayment[110]. - The company has not reported any significant accounting errors that require retrospective restatement during the reporting period[150]. - The company has complied with environmental impact assessment regulations for all construction projects, ensuring simultaneous design and construction of environmental protection facilities[142]. - The company will ensure compliance with any new regulatory requirements regarding return compensation measures[107].

Financial Performance - The company's operating revenue for 2019 was ¥1,523,390,234.14, a decrease of 4.37% compared to ¥1,593,039,258.42 in 2018[24] - The net profit attributable to shareholders for 2019 was ¥74,780,720.69, down 35.50% from ¥115,934,974.46 in 2018[24] - The total profit for the year was approximately ¥99.56 million, down 34.26% from ¥151.45 million in the previous year[63] - The net profit attributable to shareholders was approximately ¥74.78 million, reflecting a decline of 35.50% from ¥115.93 million in 2018[63] - The net cash flow from operating activities for 2019 was CNY 54,521,396.39, down 39.97% from CNY 90,817,302.91 in 2018[25] - The company's total assets at the end of the period included 218.37 million RMB in construction in progress, a 403.45% increase from the previous period[104] - The company's total assets reached approximately $2.05 billion, reflecting an 8.12% increase compared to the previous year[105] Dividends and Profit Distribution - The total distributable profit as of December 31, 2019, was ¥536,541,443.06, with a proposed cash dividend of ¥0.26 per 10 shares, totaling approximately ¥7,749,170.00[5] - The cash dividend payout ratio for 2019 was 10.36% of the net profit attributable to shareholders[5] - In 2019, the company distributed cash dividends amounting to 7,749,170.00 RMB, representing 10.36% of the net profit attributable to ordinary shareholders[188] - The company reported a positive profit available for distribution to ordinary shareholders, but did not propose a cash profit distribution plan for ordinary shares[189] Risks and Challenges - The company faces risks including environmental safety, product price fluctuations, and competition within the industry[9] - The company reported a decline in operating performance due to increased competition from new industry capacity, affecting sales volume and prices[186] - The company faced risks related to rising prices of key raw materials, which directly impact production costs and operating performance[179] Market and Product Overview - The company primarily engages in the research, production, and sales of barium salts, strontium salts, and manganese products, which are key materials in the inorganic chemical industry[35] - The company is involved in the production and sales of lithium carbonate for battery applications, along with various by-products, indicating a focus on market expansion in the battery materials sector[35] - The main products include Barium Carbonate, Barium Sulfate, Strontium Salts, and Electrolytic Manganese Dioxide, with Barium Carbonate and Barium Sulfate being significant profit contributors[45] - The company faced a decline in sales prices for Barium Carbonate, Barium Sulfate, Strontium Salts, and Electrolytic Manganese Dioxide due to new capacity entering the market and unstable downstream demand[43] Research and Development - The company reduced R&D expenses by 91.76%, from CNY 8,480,835.44 to CNY 698,591.29, due to adjustments based on project progress[79] - The total R&D investment for the period was 48.03 million RMB, representing 3.15% of total revenue[100] - The number of R&D personnel accounted for 15.98% of the total workforce, totaling 463 employees[100] - The company has developed a series of products including barium sulfate, high-purity barium carbonate, and strontium salts, maintaining a strong market position[54] Operational Efficiency and Cost Control - The company has implemented effective cost control measures, focusing on strategic cost management across procurement, production, and sales[58] - The company initiated a "100-day campaign" in September 2019 to further detail and control costs, resulting in a significant decrease in controllable expenses[72] - The company is focusing on automation and technological upgrades to improve production efficiency and reduce costs, with successful trials of new production lines[68] - The company plans to strengthen cost control measures, optimize procurement channels, and improve resource utilization efficiency to mitigate raw material cost increases[180] Environmental Management - The company has made significant progress in environmental management, achieving a 96% utilization rate for barium waste and a 100% utilization rate for strontium waste[66] - The company invested ¥10,303.45 million in environmental protection, accounting for 6.76% of total revenue[150] - The company is committed to improving safety and environmental management to mitigate risks associated with production operations[178] Financial Reporting and Compliance - The company has maintained a standard unqualified audit opinion from Zhongxinghua Accounting Firm[4] - The board of directors and management have confirmed the accuracy and completeness of the financial report[8] - The company has not reported any non-standard audit opinions from the accounting firm[193] - There were no funds occupied or overdue receivables reported during the period[193] Future Plans and Strategies - The company plans to expand production lines and enhance market development efforts to improve sales performance in the future[87] - The company aims to increase high-purity manganese sulfate production to 31,500 tons in 2020, a significant increase of 110.01% from the previous year's output of 14,999 tons[172] - The company will focus on enhancing safety and environmental management, including the construction of key environmental projects such as flue gas desulfurization and sulfur recovery[173] - The company intends to expand its product applications and accelerate the research and development of new products and processes to increase the proportion of high-value-added products[171]