2015 年第一季度报告 公司代码：600423 公司简称：柳化股份 柳州化工股份有限公司 2015 年第一季度报告 1 / 18 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2015 年第一季度报告 一、 重要提示 1.4 公司第一季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 18 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上 调整后 调整前 年度末增减(%) 总资产 5,600,168,534.45 5,335,251,158.11 5,335,251,158.11 4.97 归属于上市公司 股东的净资产 1,268,213,403.33 1,302,607,060.95 1,302,607,060.95 -2.64 年初至报告期末 上年初至上年报告期末 比上年同期增减 调整后 调整前 (%) 经营活动产生的 现金流量净额 72,923,426.38 106,942,775.67 80,722,034 ...

Financial Performance - In 2014, the company's operating revenue was CNY 3,100,133,196.81, a decrease of 2.28% compared to CNY 3,172,571,962.35 in 2013[25] - The net profit attributable to shareholders was CNY 8,791,689.99, a significant recovery from a loss of CNY 127,676,065.07 in 2013[25] - The net cash flow from operating activities decreased by 17.11% to CNY 487,417,993.85 from CNY 588,005,068.99 in the previous year[25] - Total assets increased by 1.94% to CNY 5,335,251,158.11 compared to CNY 5,233,725,473.68 at the end of 2013[25] - The company achieved a net profit of 8.61 million RMB in 2014, a significant turnaround from a loss in 2013, driven by stable production and lower raw material prices[26] - The company reported a net profit of 8,791,700 yuan, with the acquisition of Hunan Zhongcheng contributing 58,527,000 yuan to this figure[51] - The company’s weighted average return on equity improved to 0.56% in 2014, up from -7.58% in 2013[26] - The company achieved total sales of 3.1 billion yuan in 2014, completing 96.88% of its annual target of 3.2 billion yuan[52] - The company reported a net profit margin of 218.49 million, indicating a strong profitability position[153] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares based on a total share capital of 399,347,513 shares[5] - The cumulative distributable profit at the end of the period was CNY 327,752,282.79[5] - The company’s cash dividend policy mandates a minimum of 10% of the distributable profit to be distributed in cash when conditions are met[101] - The company has a differentiated cash dividend policy, requiring a minimum cash dividend ratio of 80% for mature companies without major capital expenditure plans[103] - The company did not propose a cash dividend distribution plan despite positive undistributed profits, indicating a focus on future investments[105] Assets and Liabilities - The company reported a net asset attributable to shareholders of CNY 1,302,607,060.95, down 17.43% from CNY 1,577,528,374.84 in 2013[25] - The company’s total liabilities decreased, reflecting improved financial stability and operational efficiency[32] - Cash and cash equivalents at the end of the period amounted to CNY 731,908,993.25, representing 13.72% of total assets, an increase of 42.55% compared to the previous period[62] - Accounts receivable increased by 6.11% to CNY 196,732,472.63, accounting for 3.69% of total assets[62] - The asset-liability ratio remains high, indicating significant financial pressure on the company[67] Operational Efficiency - The company reported a 6.36% reduction in operating costs, totaling 2.598 billion RMB in 2014[34] - The company’s management expenses decreased by 31.05% to 127,610,916.21 yuan, attributed to stable production and reduced repair costs[47] - The company’s investment cash inflow dropped by 93.56% to 9,036,304.88 yuan, primarily due to the previous year's sale of subsidiary equity[50] - The company’s financing cash inflow increased by 34.24% to 3,448,503,785.84 yuan, driven by increased financing lease receipts[50] Market and Product Performance - Operating revenue for 2014 was 3.1 billion RMB, a decrease of 2.28% compared to the previous year, primarily due to insufficient market demand for urea and ammonium nitrate products[34] - The production of 50% hydrogen peroxide increased significantly, with sales revenue rising by 89.78% year-on-year[35] - The revenue from the chemical fertilizer manufacturing industry was CNY 2,837,976,140.25, with a gross margin of 18.16%, showing a year-on-year increase of 4.48 percentage points[54] - The organic chemical products segment reported a revenue of CNY 187,685,959.06, with a gross margin of -11.03%, reflecting a year-on-year increase in revenue of 52.20% and a gross margin improvement of 13.50 percentage points[55][56] - The ammonium nitrate segment saw a gross margin increase of 9.21 percentage points due to cost reductions from technical upgrades and energy-saving projects[58] Strategic Initiatives and Future Outlook - The company is currently planning a non-public stock issuance, which carries significant uncertainty regarding its implementation[11] - The company plans to focus on technology upgrades and industry transformation, aiming to eliminate outdated processes and extend its product line into high-end compound fertilizers[90] - The company aims to develop high-concentration nitrate compound fertilizers and customized liquid fertilizers, enhancing product differentiation and market competitiveness[91] - The company anticipates that with improved channel construction and brand promotion, it will turn losses into profits in 2015[79] - The overall fertilizer market is expected to recover in 2015, driven by government policies aimed at stabilizing grain production and increasing farmer income[83] Governance and Compliance - The company has established a comprehensive internal control system and improved its governance structure in compliance with relevant laws and regulations[172] - The company strictly adhered to information disclosure regulations, ensuring timely and accurate reporting of significant events to protect shareholders' rights[175] - The audit committee raised concerns about the company's high debt-to-asset ratio and emphasized the need to mitigate financial risks, aiming for profitability in 2014[182] - Independent directors did not raise any objections to the board's proposals during the reporting period, indicating a consensus on governance matters[181] Employee and Management Structure - The total number of employees in the parent company is 2,563, while the main subsidiaries have 1,064 employees, resulting in a total of 3,627 employees[164] - The company implements a fixed plus performance-based salary incentive policy for its employees[165] - The total remuneration for all directors, supervisors, and senior management personnel in 2014 was 2.1849 million yuan[159] - The company conducted various employee training programs to enhance overall workforce quality and meet talent needs[166] Environmental and Safety Compliance - The company achieved a 100% compliance rate for sulfur content in coal during the reporting period[108] - Environmental protection facilities operated in sync with production facilities at a rate exceeding 98%, with an effective operation rate over 95%[108] - The company did not experience any major environmental incidents or criticisms from regulatory authorities during 2014[109] - The company has implemented safety and environmental management measures, including signing responsibility agreements with 25 secondary units[108]

Financial Performance - Net profit attributable to shareholders of the listed company decreased by 18.73% to CNY 1,282,117,953.27 compared to the end of the previous year[8] - Operating income for the first nine months was CNY 2,328,417,392.98, a decrease of 1.14% compared to the same period last year[8] - The company reported a net loss attributable to shareholders of CNY -9,296,999.33 for the third quarter[8] - The net profit for the reporting period was -¥9,296,999.33, an improvement from -¥33,258,809.74 in the same period last year, indicating a recovery in operational performance[15] - The company reported a total profit of -¥4,724,858.16, showing a significant improvement compared to -¥26,902,327.97 in the previous year[15] - Net profit for the third quarter was ¥9,562,619.19, a significant recovery from a net loss of ¥15,253,982.74 in the previous year[31] - The company reported a total profit of ¥11,104,936.11 for the quarter, compared to a loss of ¥11,038,913.44 in the previous year[31] Cash Flow - Net cash flow from operating activities increased by 58.65% to CNY 453,878,654.50 for the first nine months compared to the same period last year[8] - Cash flow from operating activities for the year-to-date reached ¥453,878,654.50, an increase of 58.6% compared to ¥286,079,202.60 in the previous year[36] - Cash inflow from financing activities amounted to ¥2,282,810,000.00, up 16.3% from ¥1,963,800,000.00 in the previous year[37] - Net cash flow from financing activities was ¥248,612,954.15, a significant improvement from -¥294,722,537.30 in the same period last year[37] Assets and Liabilities - Total assets increased by 4.76% to CNY 5,482,733,154.39 compared to the end of the previous year[8] - Total current assets increased to CNY 2,051,297,268.64 from CNY 1,738,059,441.70, representing a growth of approximately 18%[21] - Total liabilities increased to CNY 4,200,615,201.12 from CNY 3,617,135,319.41, marking an increase of about 16.1%[23] - The company's total equity decreased to CNY 1,282,117,953.27 from CNY 1,616,590,154.27, a decline of about 20.7%[23] Shareholder Information - The total number of shareholders reached 32,411 by the end of the reporting period[12] - The largest shareholder, Liuzhou Chemical Industry Group Co., Ltd., held 36.30% of the shares, totaling 144,958,192 shares[13] Investments and Acquisitions - The company completed the acquisition of 95.5% of Hunan Zhongcheng Chemical Co., Ltd. for ¥230,183,000 and 95% of Dongguan Zhenhua Taifeng Industrial Development Co., Ltd. for ¥46,615,200[16] - The company’s investment income dropped to zero from ¥20,137,672.52 in the previous year due to the sale of a subsidiary[15] Operational Efficiency - The company's management reported a focus on cost control and efficiency improvements to enhance profitability moving forward[31] - The company plans to expand its market presence and invest in new product development to drive future growth[31] Revenue and Costs - Total operating revenue for the third quarter was ¥818,576,250.07, an increase of 12.4% compared to ¥728,130,263.28 in the same period last year[30] - Total operating costs amounted to ¥810,268,618.83, up from ¥765,982,312.79, reflecting a year-over-year increase of 5.8%[30] - Year-to-date total operating costs were ¥2,337,585,747.05, down from ¥2,410,665,281.29, indicating a decrease of 3.0%[30]

柳州化工股份有限公司 600423 2014 年半年度报告 柳州化工股份有限公司 2014 年半年度报告 重要提示 一、本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 四、公司负责人覃永强、主管会计工作负责人黄吉忠及会计机构负责人（会计主管人员） 黄东健声明：保证本半年度报告中财务报告的真实、准确、完整。 五、是否存在被控股股东及其关联方非经营性占用资金情况？ 否 六、是否存在违反规定决策程序对外提供担保的情况？ 否 1 二、公司全体董事出席董事会会议。 三、公司半年度财务报告未经审计。 | | | | 第一节 | 释义 3 | | --- | --- | | 第二节 | 公司简介 4 | | 第三节 | 会计数据和财务指标摘要 5 | | 第四节 | 董事会报告 7 | | 第五节 | 重要事项 15 | | 第六节 | 股份变动及股东情况 21 | | 第七节 | 优先股相关情况 23 | | 第八节 | 董事、监事、高级管理人员情况 24 | | 第九节 | 财务报告（未经审计）………………………… ...

Financial Performance - The company's operating revenue for 2013 was CNY 2,586,693,075.55, a decrease of 11.70% compared to CNY 2,929,522,617.14 in 2012[34]. - The net profit attributable to shareholders for 2013 was a loss of CNY 148,839,899.84, representing a decline of 455.25% from a profit of CNY 41,897,190.67 in 2012[34]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 202,940,211.12, compared to a profit of CNY 6,459,512.10 in 2012, a decrease of 3,241.73%[34]. - In 2013, the company reported a net loss of CNY 152.49 million, with a significant decline in basic and diluted earnings per share to -CNY 0.37, a decrease of 470% compared to the previous year[35][44]. - The company faced significant challenges due to external market conditions, leading to a profit reduction of CNY 259 million attributed to falling product prices[44][49]. - The company reported a 92.68% decrease in income tax expenses due to a loss during the reporting period[57]. Cash Flow and Assets - The net cash flow from operating activities increased by 44.06% to CNY 414,240,361.39 from CNY 287,538,415.63 in 2012[34]. - The total assets at the end of 2013 were CNY 4,302,662,601.06, a decrease of 2.30% from CNY 4,403,820,034.09 in 2012[34]. - The net assets attributable to shareholders decreased by 12.60% to CNY 1,332,344,174.56 from CNY 1,524,480,491.65 in 2012[34]. - Cash and cash equivalents increased by 87.09% to ¥272,386,055.20, primarily due to the sale of the controlling subsidiary Xin Yi Mining[68]. - Accounts receivable increased by 126.80% to ¥100,381,470.50, mainly due to an increase in sales settled by notes[68]. - Short-term borrowings increased by 32.13% to ¥1,457,400,000.00, mainly to supplement working capital[70]. Business Operations and Strategy - The company has maintained its main business operations without changes since its listing[28]. - The company achieved a production total of 602,700 tons of ammonia in 2013, with a historical daily production record of 1,030 tons[41]. - The company implemented a marketing system reform to enhance market control, resulting in an increase in sales volume for most products despite adverse market conditions[41]. - The company plans to acquire 95% of Hunan Zhongcheng's equity and 95.5% of Zhenhua Industrial's equity to optimize its asset structure and improve operational efficiency[42]. - The company aims to achieve an operating revenue of 3.2 billion yuan in 2014 and plans to turn losses into profits[90]. - The company will focus on internal potential tapping, energy saving, and efficiency improvement in 2014, alongside accelerating the upgrade of mixed fertilizer and nitric acid systems[88]. Shareholder and Governance - The total number of shareholders at the end of the reporting period was 38,799, an increase from 37,610 at the end of the previous reporting period[133]. - The largest shareholder, Liuzhou Chemical Industry Group Co., Ltd., holds 36.30% of the shares, totaling 144,958,192 shares, with no changes during the reporting period[139]. - The company has retained its accounting firm, Da Xin Accounting Firm, for 13 years, with an audit fee of RMB 45,000[121]. - The company has a robust internal audit function, with members actively involved in monitoring financial practices and compliance[146]. - The company has established a governance structure that complies with the requirements of the Company Law and the relevant regulations of the China Securities Regulatory Commission[162]. Risks and Challenges - The company faces risks from excess capacity and insufficient demand in the domestic market, which may challenge product sales[92]. - The company faced financing difficulties and decided not to increase capital reserves or distribute profits for 2013[9]. - The company has outlined potential risks in its future plans, which investors should be aware of[16]. Environmental and Compliance - The company achieved a 100% compliance rate for sulfur content in coal used during the reporting period[102]. - Environmental protection facilities operated in sync with production equipment at a rate exceeding 98%[102]. - The company has established a long-term environmental safety guarantee mechanism to prevent environmental issues[102]. - The company has not experienced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[122].

一、 重要提示 | 一、 | 重要提示 2 | | --- | --- | | 二、 | 公司主要财务数据和股东变化 3 | | 三、 | 重要事项 8 | | 四、 | 附录 11 | 600423 柳州化工股份有限公司 2014 年第一季度报告 柳州化工股份有限公司 600423 600423 柳州化工股份有限公司 2014 年第一季度报告 2014 年第一季度报告 2 二、 公司主要财务数据和股东变化 600423 柳州化工股份有限公司 2014 年第一季度报告 1.4 公司第一季度报告中的财务报表未经审计。 | 公司负责人姓名 | 廖能成 | | --- | --- | | 主管会计工作负责人姓名 | 黄吉忠 | | 会计机构负责人（会计主管人员）姓名 | 黄东健 | 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。 2.1 主要财务数据 公司负责人廖能成、主管会计工作负责人黄吉忠及会计机构负责人（会计主管人员）黄 东健保证季度报告中财务报表的真实 ...