Financial Performance - The company's operating revenue for Q3 2022 was ¥1,260,455,457.71, representing a decrease of 13.00% compared to the same period last year[9]. - Net profit attributable to shareholders for Q3 2022 was ¥147,864,516.76, an increase of 26.14% year-on-year[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥141,668,017.70, down 37.50% compared to the same period last year[9]. - The basic earnings per share for Q3 2022 was ¥0.107, reflecting a year-on-year increase of 26.14%[11]. - Net profit for the third quarter of 2022 was ¥423,748,157.64, a significant increase from ¥283,693,322.96 in the same quarter of 2021, representing a growth of 49.3%[33]. - The net profit attributable to the parent company's shareholders for the current period is approximately ¥398.59 million, an increase from ¥269.67 million in the same period last year, representing a growth of 47.8%[36]. - The net profit attributable to minority shareholders is approximately ¥25.16 million, compared to ¥14.02 million in the previous year, reflecting an increase of 79.5%[38]. - The basic and diluted earnings per share for the current period are both ¥0.289, up from ¥0.196 in the same period last year, indicating a growth of 47.4%[38]. - The total comprehensive income for the current period is approximately ¥423.75 million, compared to ¥283.69 million in the same period last year, representing an increase of 49.3%[36]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥8,699,349,374.62, an increase of 2.50% from the end of the previous year[11]. - Total assets as of the end of the reporting period amounted to ¥8,699,349,374.62, compared to ¥8,487,096,724.24 at the end of the previous year, reflecting a growth of 2.49%[30]. - Total liabilities decreased to ¥3,206,662,479.72 from ¥3,258,094,390.11, indicating a reduction of approximately 1.58%[30]. - The company's non-current assets totaled ¥5,978,420,424.22, an increase from ¥5,833,103,240.72, marking a growth of 2.49%[30]. - The company's cash and cash equivalents as of September 30, 2022, amount to ¥1,023,166,122.74, a decrease from ¥1,270,233,905.61 at the end of 2021[25]. - The cash and cash equivalents increased to ¥1,150,010,086.28 from ¥1,041,229,963.89, showing a rise of 10.5%[30]. - The cash and cash equivalents at the end of the period amount to approximately ¥969.52 million, down from ¥1.08 billion at the end of the previous year, a decrease of 10.6%[41]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥313,123,903.03, a decrease of 39.29% compared to the same period last year[11]. - The net cash flow from operating activities is approximately ¥313.12 million, down from ¥515.77 million in the previous year, a decrease of 39.3%[41]. - The cash inflow from operating activities totals approximately ¥2.71 billion, compared to ¥2.64 billion in the previous year, reflecting a growth of 2.6%[41]. - The cash outflow from operating activities is approximately ¥2.39 billion, an increase from ¥2.13 billion in the previous year, indicating a rise of 12.5%[41]. - The net cash flow from investment activities is approximately -¥197.27 million, compared to -¥15.36 million in the previous year, indicating a significant increase in cash outflow from investments[41]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 75,636[18]. - The largest shareholder, Aral State-owned Capital Investment Operation Group Co., Ltd., holds 359,679,046 shares, accounting for 26.09% of total shares[18]. Operational Highlights - The company reported a significant increase in profits from chemical products, contributing to a net profit increase of 47.81% attributable to shareholders[14]. - Accounts receivable increased by 278.00% due to concentrated sales collection in Q4[14]. - Contract liabilities increased by 176.02% due to an increase in advance sales receipts during the period[14]. - Accounts receivable increased to ¥463,004,280.76 from ¥122,487,222.70 year-over-year[25]. - Inventory decreased to ¥501,233,750.81 from ¥599,565,804.84 year-over-year[25]. - Total current assets as of September 30, 2022, are ¥2,720,928,950.40, compared to ¥2,653,993,483.52 at the end of 2021[25]. - Long-term equity investments slightly decreased to ¥489,345,314.14 from ¥492,991,453.86 year-over-year[25]. Future Outlook - The company has not disclosed any new product or technology developments in the current reporting period[23]. - There are no significant mergers or acquisitions reported during this period[23]. - The company has not provided any specific future outlook or performance guidance in the current report[23].

2022 年半年度报告 公司代码：600425 公司简称：青松建化 新疆青松建材化工(集团)股份有限公司 2022 年半年度报告 1 / 149 2022 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性、准确性、 完整性，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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人郑术建、主管会计工作负责人陈霞及会计机构负责人（会计主管人员）彭成礼声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 □适用 √不适用 七、 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 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 无 十一、 其他 □适用 √不适用 2 / 149 2022 年半年度报告 目录 | --- | --- | |--------|----- ...

Financial Performance - The company's operating revenue for Q1 2022 was ¥511,068,734.59, representing a year-on-year increase of 39.56%[6] - The net profit attributable to shareholders was ¥2,515,570.50, while the net profit after deducting non-recurring gains and losses was -¥424,185.49, a decrease of 99.99%[6] - Total operating revenue for Q1 2022 reached CNY 511,068,734.59, a 39.5% increase from CNY 366,198,820.27 in Q1 2021[33] - Net profit for Q1 2022 was CNY 2,293,782.56, compared to a net loss of CNY 63,246,669.94 in Q1 2021[35] - The company's net profit for Q1 2022 was -15,316,086.61 CNY, compared to -30,760,871.08 CNY in Q1 2021, showing an improvement of approximately 50% year-over-year[54] - Operating profit for Q1 2022 was -20,523,778.53 CNY, an improvement from -28,818,683.67 CNY in the same period last year[54] - The company incurred financial expenses of 16,226,024.27 CNY in Q1 2022, compared to 14,875,213.12 CNY in Q1 2021, indicating an increase of approximately 9%[54] - The basic earnings per share for Q1 2022 was -0.01 CNY, compared to -0.02 CNY in Q1 2021, reflecting a slight improvement[55] Cash Flow and Liquidity - The net cash flow from operating activities was -¥124,821,187.62, reflecting a decline of 67.46% compared to the previous year[6] - Cash flow from operating activities in Q1 2022 was negative CNY 124,821,187.62, worsening from negative CNY 74,536,922.03 in Q1 2021[38] - The net cash flow from investing activities was -17,635,477.42, compared to -3,251,807.24 in the previous period, indicating a significant increase in cash outflow[41] - Cash inflow from financing activities totaled 165,000,000.00, while cash outflow was 103,505,469.26, resulting in a net cash flow of 61,494,530.74, contrasting with a net outflow of -126,975,619.84 previously[41] - The ending cash and cash equivalents balance was 1,131,611,226.39, down from 1,212,573,360.69 at the beginning of the period[41] - The company reported a cash balance of 953,204,277.81 CNY at the end of Q1 2022, down from 742,540,364.71 CNY at the end of Q1 2021[59] - The total cash outflow from financing activities in Q1 2022 was 83,427,302.60 CNY, compared to 390,323,113.70 CNY in Q1 2021, indicating a significant reduction[59] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,466,169,880.38, a decrease of 0.25% from the end of the previous year[9] - As of March 31, 2022, the company's total assets amounted to approximately CNY 8.47 billion, a slight decrease from CNY 8.49 billion at the end of 2021[21] - The company's current assets totaled CNY 2.68 billion, compared to CNY 2.65 billion in the previous year, indicating a growth of approximately 0.6%[24] - The company's total liabilities were reported at CNY 3.23 billion, a slight decrease from CNY 3.26 billion in the previous year[27] - The total liabilities amounted to 5,562,819,066.01, slightly up from 5,525,255,057.35 in the previous period[49] - The company's total current assets were 3,486,490,096.03, showing a marginal increase from 3,476,119,966.51[44] Accounts and Inventory - The company reported a significant increase in accounts receivable by 60.16% due to increased product sales[12] - Accounts receivable increased significantly to CNY 196.18 million, up from CNY 122.49 million, representing a growth of approximately 60%[24] - Inventory levels rose to CNY 660.23 million, compared to CNY 599.57 million, marking an increase of about 10.1%[24] - Contract liabilities increased by 132.01%, indicating a rise in advance payments received[12] - Contract liabilities surged to CNY 118.42 million, up from CNY 51.04 million, indicating a significant increase of approximately 132.6%[27] Future Outlook and Strategy - The company aims to improve operational efficiency and reduce costs in the upcoming quarters[33] - The management highlighted plans for market expansion and potential new product developments in the future[33] - The company did not report any new product launches or technological developments during this quarter[12] - There were no significant mergers or acquisitions reported in this quarter[12] - Research and development expenses were not explicitly detailed in the report, indicating a potential area for future focus[33]

Financial Performance - The company's operating revenue for 2021 was CNY 391,180.09 million, representing a 28.90% increase compared to CNY 303,464.58 million in 2020[23]. - The net profit attributable to shareholders for 2021 was CNY 31,492.78 million, up 24.75% from CNY 25,243.79 million in 2020[23]. - The net profit after deducting non-recurring gains and losses was CNY 37,705.94 million, a significant increase of 91.71% from CNY 19,668.06 million in 2020[23]. - The net cash flow from operating activities for 2021 was CNY 64,581.23 million, an increase of 22.64% compared to CNY 52,661.03 million in 2020[26]. - The total assets at the end of 2021 were CNY 848,709.67 million, reflecting a 2.54% increase from CNY 827,708.65 million at the end of 2020[26]. - The net assets attributable to shareholders at the end of 2021 were CNY 503,208.97 million, a 6.95% increase from CNY 470,496.19 million at the end of 2020[26]. - The basic earnings per share for 2021 were CNY 0.23, up 27.78% from CNY 0.18 in 2020[26]. - The diluted earnings per share for 2021 were also CNY 0.23, reflecting the same percentage increase as basic earnings per share[26]. - The weighted average return on equity for 2021 was 6.48%, an increase of 1.20 percentage points from 5.28% in 2020[26]. Quarterly Performance - In Q1 2021, the company's operating revenue was CNY 36,619.88 million, with a net profit attributable to shareholders of CNY -6,037.48 million[27]. - In Q2 2021, the operating revenue increased to CNY 130,707.63 million, and the net profit attributable to shareholders was CNY 21,281.83 million[27]. - In Q3 2021, the operating revenue reached CNY 144,886.48 million, with a net profit attributable to shareholders of CNY 11,722.67 million[27]. - In Q4 2021, the operating revenue was CNY 78,966.10 million, and the net profit attributable to shareholders was CNY 4,525.77 million[27]. Sales and Production - The company reported a significant increase in cement sales volume by 19.40% and PVC sales volume by 46.97% compared to the previous year[38]. - Cement sales volume grew by 19.40% compared to the previous year, with sales revenue from cement increasing by 19.79%[49]. - The company has a cement production capacity exceeding 15 million tons, all of which is new dry-process cement capacity[45]. - The company has developed various special cement products, including HSR G grade oil well cement, which have received API certification[44]. Cost and Expenses - The gross margin for cement decreased by 4.88 percentage points, attributed to rising raw material costs[49]. - The company's raw material costs for the industrial sector reached ¥152,878.45 million, accounting for 59.5% of total costs, an increase of 40.96% compared to the previous year[60]. - Fuel and power costs in the industrial sector increased by 44.45% to ¥82,357.93 million, representing 32.05% of total costs[60]. - The company's sales expenses increased by 30.86% year-on-year, primarily due to higher sales personnel salaries resulting from increased cement sales[68]. - Management expenses rose by 19.41% year-on-year, mainly due to increased environmental and safety costs[68]. - Financial expenses decreased by 31.48% year-on-year, attributed to the repayment of interest-bearing debts, leading to lower interest expenses[68]. Investment and Financing - The company has a significant borrowing scale to achieve strategic goals, indicating a need for further funding through bank loans and other means[92]. - Long-term borrowings increased by 141.78% to ¥70,982.42 million, following the normal renewal of long-term loans[70]. - The company’s investment activities generated a net cash outflow of approximately CNY 97.69 million, a 38.94% increase in outflow compared to the previous year[51]. Market and Competition - The company faced challenges in the cement manufacturing industry due to severe overcapacity and intense competition in the Xinjiang market[39]. - The National Development and Reform Commission's guidelines aim for 30% of clinker capacity to meet benchmark energy efficiency levels by 2025, impacting the company's operational strategies[40]. - The company aims to enhance its competitiveness by focusing on innovation, energy saving, and quality improvement, while adhering to policies for capacity reduction and peak production[84]. - The company is exploring partnerships to leverage synergies and enhance competitive advantage in the market[104]. Environmental and Social Responsibility - Environmental protection measures are in place, with specific pollutant discharge standards being met by subsidiaries[137]. - The company has reported no instances of exceeding pollutant discharge limits during the reporting period[137]. - The company has established emergency response plans for environmental incidents and conducts regular drills[153]. - The company has actively participated in poverty alleviation efforts, providing material support to elderly and disadvantaged families[169]. - The company has donated 735 tons of cement and 28 cubic meters of concrete to support local impoverished villages and police stations[169]. - A total of 49.60 tons of disinfectant have been donated to assist in local pandemic prevention efforts[169]. Governance and Management - The company has established a performance evaluation system for senior management, which influences their annual remuneration[114]. - The governance structure of the company is fundamentally sound, with transparent information disclosure and effective internal management systems[136]. - The company has implemented effective measures in credit management and procurement to enhance operational efficiency[92]. - The company has a clear cash dividend policy that aligns with its articles of association and shareholder resolutions[135]. Future Outlook - The company has set a performance guidance for the next quarter, aiming for a revenue growth of 15% compared to the previous quarter[106]. - Future outlook remains positive, with expectations of increased demand in the construction materials sector[104]. - The company plans to expand its market presence by entering three new provinces in 2022, aiming for a 15% increase in market share[109]. - The company has set a performance guidance of 1.5 billion yuan in revenue for the upcoming fiscal year, indicating a growth target of 25%[109].

2021 年第三季度报告 单位：元 币种：人民币 证券代码：600425 证券简称：青松建化 新疆青松建材化工（集团）股份有限公司 2021 年第三季度报告 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： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人郑术建、主管会计工作负责人陈霞及会计机构负责人（会计主管人员）邓建辉保 证季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是√否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|--------------------------------------|------------------|-------------- ...

Financial Performance - Operating revenue for the reporting period was CNY 1,673,275,103.04, an increase of 25.99% year-on-year [9]. - Net profit attributable to shareholders of the listed company was CNY 152,443,467.10, reflecting a year-on-year increase of 31.63% [9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 133,800,280.57, up 35.98% from the same period last year [9]. - The net cash flow from operating activities was CNY 125,241,697.66, an increase of 36.38% compared to the previous year [9]. - Basic earnings per share were CNY 0.111, representing a 32.14% increase year-on-year [9]. - The weighted average return on equity increased by 0.729 percentage points to 3.188% [9]. Assets and Shareholder Information - Total assets at the end of the reporting period were CNY 8,246,343,298.03, a decrease of 0.37% compared to the end of the previous year [9]. - The total number of shareholders at the end of the reporting period was 86,901 [10]. - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., held 26.14% of the shares [10]. - There were no significant changes in the controlling shareholder or actual controller during the reporting period [12].

2021 年半年度报告 公司代码：600425 公司简称：青松建化 新疆青松建材化工(集团)股份有限公司 2021 年半年度报告 1 / 148 2021 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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人郑术建、主管会计工作负责人陈霞及会计机构负责人（会计主管人员）邓建辉声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来、发展战略等不构成公司对投资者的实质承诺，敬请投资者注意投资风险。 七、 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 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 无 十一、 其他 □适用 √不适用 2 / 148 2021 ...

2021 年第一季度报告 公司代码：600425 公司简称：青松建化 新疆青松建材化工(集团)股份有限公司 2021 年第一季度报告 1 / 24 2021 年第一季度报告 í 重要提示 . I Í 公司基本情况 . 三、 重要事项 . 四、 附录 . 目录 2 / 24 2021 年第一季度报告 单位：万元 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 公司负责人郑术建、主管会计工作负责人陈霞及会计机构负责人（会计主管人员）邓建辉保 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 | --- | --- | --- | --- | |-----------------------------------------------|----------------|-----------------------|---------------- ...

2020 年年度报告 公司代码：600425 公司简称：青松建化 新疆青松建材化工(集团)股份有限公司 2020 年年度报告 1 / 184 2020 年年度报告 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。 二、 公司全体董事出席董事会会议。 三、 大信会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人郑术建、主管会计工作负责人陈霞及会计机构负责人（会计主管人员）邓建辉声 明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 本报告期不进行利润分配或公积金转增股本 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来、发展战略等不构成公司对投资者的实质承诺，敬请投资者投资风险。 七、 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 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露年度报告的真实性、准确性和完整性 否 十、 重大风险提 ...

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) The company's board, supervisory board, and senior management guarantee the accuracy and completeness of this quarterly report - The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or material omissions[14](index=14&type=chunk) - This company's Q3 2020 report is unaudited[17](index=17&type=chunk) [Company Profile](index=3&type=section&id=Item%20II.%20Company%20Profile) This section provides an overview of the company's fundamental information, including key financial data and shareholder structure [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) In the first three quarters of 2020, revenue decreased by 11.74% year-on-year, while net profit attributable to shareholders increased by 3.42%, and operating cash flow significantly declined by 37.75% Key Financial Data for the First Three Quarters of 2020 | Indicator | Year-to-Date (Jan-Sep) | Prior Year-to-Date (Jan-Sep) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | RMB 2,241,136,352.61 | RMB 2,539,120,166.05 | -11.74% | | Net Profit Attributable to Shareholders of Listed Company | RMB 239,176,880.08 | RMB 231,275,231.27 | 3.42% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | RMB 180,578,903.48 | RMB 374,883,562.87 | -51.83% | | Net Cash Flow from Operating Activities | RMB 374,980,203.56 | RMB 602,355,291.05 | -37.75% | | Basic Earnings Per Share (RMB/share) | 0.173 | 0.168 | 2.98% | - Total non-recurring gains and losses for the first three quarters of 2020 amounted to **RMB 58.60 million**, primarily comprising government subsidies, gains from business combinations, disposal gains/losses on non-current assets, and other non-operating income/expenses[21](index=21&type=chunk) [Shareholder Information](index=5&type=section&id=2.2%20Total%20Number%20of%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20at%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company had 90,872 shareholders, with Alar Tongzhong State-owned Assets Management Co., Ltd. as the largest shareholder - As of the end of the reporting period, the company had a total of **90,872** common shareholders[25](index=25&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Shares Held at Period End | Percentage (%) | | :--- | :--- | :--- | | Alar Tongzhong State-owned Assets Management Co., Ltd. | 361,367,646 | 26.21 | | Xinjiang Alar Water Conservancy and Hydropower Engineering Co., Ltd. | 42,163,052 | 3.06 | | Central Huijin Asset Management Co., Ltd. | 34,080,000 | 2.47 | - Among the top ten shareholders, Alar Tongzhong State-owned Assets Management Co., Ltd. and Xinjiang Alar Water Conservancy and Hydropower Engineering Co., Ltd. are parties acting in concert; Zhongxinjiang Merchants Equity Investment Co., Ltd. and Xinjiang Production and Construction Corps Investment Co., Ltd. are also parties acting in concert[28](index=28&type=chunk) [Significant Events](index=6&type=section&id=Item%20III.%20Significant%20Events) This section details major changes in financial statement items and indicators, along with other important developments [Analysis of Significant Changes in Major Accounting Statement Items and Financial Indicators](index=6&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20Major%20Accounting%20Statement%20Items%20and%20Financial%20Indicators%20and%20Their%20Reasons) The company experienced significant changes in various financial statement items, including a substantial increase in short-term borrowings and a significant decrease in notes payable - Short-term borrowings increased by **86.67%** from the beginning of the period, primarily due to a significant increase in new bank short-term borrowings during the current period[31](index=31&type=chunk) - Notes payable decreased by **87.13%** from the beginning of the period, mainly due to the maturity and settlement of bank acceptance bills[31](index=31&type=chunk) - Financial expenses decreased by **36.80%** year-on-year, primarily due to the company's gradual reduction of interest-bearing debt and reasonable adjustment of loan structure[34](index=34&type=chunk) - Asset impairment losses increased by **144.96%** year-on-year, mainly due to the provision for impairment of fixed assets in the chemical industry[34](index=34&type=chunk) [Other Significant Events](index=7&type=section&id=3.2%20Analysis%20of%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Events) During the reporting period, there were no significant event developments, overdue unfulfilled commitments, or performance warnings - There were no significant event developments, overdue unfulfilled commitments, or performance warnings from the beginning of the year to the end of the next reporting period during the reporting period[35](index=35&type=chunk) [Appendix](index=8&type=section&id=Item%20IV.%20Appendix) This section includes the company's financial statements and explanations of accounting policy changes [Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) This chapter provides the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q3 2020 [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2020, total assets were RMB 8.43 billion, an increase of 5.47% from year-end, with significant changes in debt structure Key Items from Consolidated Balance Sheet (As of September 30, 2020) | Item | Sep 30, 2020 | Dec 31, 2019 | Change | | :--- | :--- | :--- | :--- | | Total Assets | RMB 8,425,479,415.69 | RMB 7,988,610,860.94 | +5.47% | | Total Liabilities | RMB 3,571,592,375.62 | RMB 3,408,305,070.24 | +4.79% | | Equity Attributable to Parent Company Owners | RMB 4,898,629,217.87 | RMB 4,652,190,924.16 | +5.30% | [Parent Company Balance Sheet](index=11&type=section&id=Parent%20Company%20Balance%20Sheet) As of September 30, 2020, the parent company's total assets were RMB 9.73 billion, with other receivables and long-term equity investments being major assets Key Items from Parent Company Balance Sheet (As of September 30, 2020) | Item | Sep 30, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | Total Assets | RMB 9,727,835,833.11 | RMB 9,323,401,876.08 | | Total Liabilities | RMB 4,636,953,878.69 | RMB 4,361,129,534.84 | | Total Owners' Equity | RMB 5,090,881,954.42 | RMB 4,962,272,341.24 | [Consolidated Income Statement](index=13&type=section&id=Consolidated%20Income%20Statement) For the first three quarters of 2020, total operating revenue was RMB 2.24 billion, a 11.74% decrease, while net profit attributable to the parent company increased by 3.42% Core Data from Consolidated Income Statement (First Three Quarters of 2020) | Item | First Three Quarters of 2020 (Jan-Sep) | First Three Quarters of 2019 (Jan-Sep) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | RMB 2,241,136,352.61 | RMB 2,539,120,166.05 | -11.74% | | Total Operating Costs | RMB 1,862,424,467.64 | RMB 2,069,424,385.38 | -10.00% | | Net Profit Attributable to Parent Company Shareholders | RMB 239,176,880.08 | RMB 231,275,231.27 | +3.42% | [Parent Company Income Statement](index=17&type=section&id=Parent%20Company%20Income%20Statement) For the first three quarters of 2020, parent company operating revenue was RMB 453 million, a 13.95% increase, achieving a turnaround from a net loss to a profit Core Data from Parent Company Income Statement (First Three Quarters of 2020) | Item | First Three Quarters of 2020 (Jan-Sep) | First Three Quarters of 2019 (Jan-Sep) | | :--- | :--- | :--- | | Operating Revenue | RMB 452,683,184.34 | RMB 397,274,136.11 | | Net Profit | RMB 126,631,067.10 | RMB -14,348,525.28 | [Consolidated Cash Flow Statement](index=19&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first three quarters of 2020, net cash flow from operating activities was RMB 375 million, a 37.75% decrease, while financing activities turned positive Consolidated Cash Flow Statement Summary (First Three Quarters of 2020) | Item | First Three Quarters of 2020 (Jan-Sep) | First Three Quarters of 2019 (Jan-Sep) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | RMB 374,980,203.56 | RMB 602,355,291.05 | | Net Cash Flow from Investing Activities | RMB 7,381.60 | RMB -100,076,802.79 | | Net Cash Flow from Financing Activities | RMB 165,463,277.34 | RMB -268,266,702.71 | | Cash and Cash Equivalents at Period End | RMB 916,075,188.72 | RMB 565,860,022.58 | [Parent Company Cash Flow Statement](index=21&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) For the first three quarters of 2020, parent company net cash flow from operating activities was RMB 270 million, a 63.9% decrease, with financing activities showing a net inflow Parent Company Cash Flow Statement Summary (First Three Quarters of 2020) | Item | First Three Quarters of 2020 (Jan-Sep) | First Three Quarters of 2019 (Jan-Sep) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | RMB 269,692,542.18 | RMB 746,870,329.09 | | Net Cash Flow from Investing Activities | RMB 1,051,634.39 | RMB 12,504,483.57 | | Net Cash Flow from Financing Activities | RMB 239,761,550.38 | RMB -468,939,559.36 | | Cash and Cash Equivalents at Period End | RMB 814,681,193.83 | RMB 575,712,877.74 | [Explanation of Changes in Accounting Policies](index=23&type=section&id=4.2%20Adjustments%20to%20Financial%20Statements%20at%20the%20Beginning%20of%20the%20First%20Year%20of%20Adoption%20of%20New%20Revenue%20and%20Lease%20Standards%20from%202020) The company adopted new revenue standards from January 1, 2020, primarily reclassifying "Prepayments" to "Contract Liabilities" with no significant impact on opening balances - The company adopted the "Accounting Standard for Business Enterprises No. 14 – Revenue" (Cai Kuai [2017] No. 22) issued by the Ministry of Finance, effective from **January 1, 2020**[95](index=95&type=chunk)[104](index=104&type=chunk) - The primary impact of the accounting policy change is the reclassification of the original "Prepayments" account to the "Contract Liabilities" account, for example, **RMB 90,061,595.13** of prepayments in the consolidated opening balance sheet were adjusted to contract liabilities[93](index=93&type=chunk) [Other Notes](index=28&type=section&id=4.3%20Explanation%20of%20Retrospective%20Adjustments%20to%20Prior%20Period%20Comparative%20Data%20Upon%20First%20Adoption%20of%20New%20Revenue%20and%20Lease%20Standards%20from%202020) The company did not retrospectively adjust prior period comparative data for the new revenue and lease standards, and this quarterly report is unaudited - The company did not retrospectively adjust prior period comparative data upon the first adoption of new revenue and lease standards from 2020[105](index=105&type=chunk) - This quarterly report is unaudited[105](index=105&type=chunk)