2020 年年度报告 公司代码：600426 公司简称：华鲁恒升 山东华鲁恒升化工股份有限公司 2020 年年度报告 1 / 161 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、 未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 丁建生 工作原因 王元仁 三、 和信会计师事务所（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、 公司负责人常怀春、主管会计工作负责人高景宏及会计机构负责人（会计主管人员）张虎城 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 公司 2020 年年度拟以实施权益分派股权登记日登记的总股本为基数分配利润，用可供股东分 配的利润向全体股东每 10 股派发现金红利 3.00 元（含税），送红股 3 股；本次分配后的未分配 利润余额结转至以后年度；本年度不进行资本公积转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告 ...

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) The company's management affirms the accuracy and completeness of this unaudited quarterly report and its financial statements - The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and assume corresponding legal responsibilities[3](index=3&type=chunk)[24](index=24&type=chunk) - The company's responsible person, the person in charge of accounting work, and the head of the accounting department guarantee the truthfulness, accuracy, and completeness of the financial statements[3](index=3&type=chunk)[24](index=24&type=chunk) - This company's third-quarter report for 2019 has not been audited[3](index=3&type=chunk)[24](index=24&type=chunk) [Company Profile](index=3&type=section&id=Item%20II.%20Company%20Profile) This section provides an overview of the company's key financial performance and shareholder structure as of the reporting period [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) As of September 30, 2019, total assets were 18.73 billion CNY, a slight increase of 0.39% from year-end, with Q1-Q3 revenue at 10.61 billion CNY, down 2.20%, and net profit attributable to shareholders at 1.91 billion CNY, down 24.55% Key Financial Data for Q1-Q3 2019 | Indicator | Q1-Q3 2019 (Jan-Sep) | Q1-Q3 2018 (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 10,610,575,022.85 | 10,848,709,584.86 | -2.20% | | Net Profit Attributable to Shareholders (CNY) | 1,912,377,944.89 | 2,534,570,945.55 | -24.55% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (CNY) | 1,878,882,150.67 | 2,535,973,067.90 | -25.91% | | Net Cash Flow from Operating Activities (CNY) | 2,725,199,308.37 | 3,099,038,602.51 | -12.06% | | Basic Earnings Per Share (CNY/share) | 1.176 | 1.564 | -24.81% | | Weighted Average Return on Net Assets (%) | 14.79% | 24.26% | Decreased by 9.47 percentage points | Non-Recurring Gains and Losses for Q1-Q3 2019 | Item | Amount from Year-Beginning to End of Reporting Period (Jan-Sep) (CNY) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -2,096,762.32 | | Government grants included in current profit and loss | 2,553,900.00 | | Fair value changes and investment income from trading financial assets, etc. | 38,462,247.37 | | Other non-operating income and expenses | 487,431.68 | | Income tax impact | -5,911,022.51 | | **Total** | **33,495,794.22** | [Shareholder Ownership](index=4&type=section&id=2.2%20Total%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the reporting period end, the company had 43,713 shareholders, with Shandong Hualu Hengsheng Group Co., Ltd. as the largest shareholder at 32.19%, and Central Huijin and several National Social Security Fund portfolios among the top ten - As of the end of the reporting period, the company had **43,713 shareholders**[8](index=8&type=chunk)[29](index=29&type=chunk) Top Ten Shareholders | Shareholder Name | Number of Shares Held (shares) | Percentage (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Shandong Hualu Hengsheng Group Co., Ltd. | 523,644,487 | 32.19 | State-owned Legal Person | | Central Huijin Investment Ltd. | 67,649,179 | 4.16 | Unknown | | National Social Security Fund 106 Portfolio | 51,619,294 | 3.17 | Unknown | | National Social Security Fund 108 Portfolio | 48,406,693 | 2.98 | Unknown | | National Social Security Fund 117 Portfolio | 34,500,000 | 2.12 | Unknown | | China Construction Bank - Boshi Theme Industry Mixed Securities Investment Fund (LOF) | 32,000,016 | 1.97 | Unknown | | Hong Kong Securities Clearing Company Limited | 22,350,328 | 1.37 | Unknown | | Industrial and Commercial Bank of China - Huitianfu Value Selection Mixed Securities Investment Fund | 22,000,091 | 1.35 | Unknown | | China Life Insurance Co., Ltd. - Dividend - Individual Dividend | 17,760,729 | 1.09 | Unknown | | Industrial and Commercial Bank of China - Oriental Red Industry Upgrading Flexible Allocation Mixed Securities Investment Fund | 16,907,736 | 1.04 | Unknown | [Significant Events](index=5&type=section&id=Item%20III.%20Significant%20Events) This section details significant changes in the company's key financial statement items and indicators, along with their underlying reasons [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=5&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20Key%20Financial%20Statement%20Items%20and%20Indicators%20and%20Their%20Reasons) During the reporting period, significant changes occurred in financial statement items, including substantial increases in construction in progress and other non-current assets, full repayment of short-term borrowings, a 393.12% surge in R&D expenses, a 48.51% rise in selling expenses, and large cash flows from investing activities due to structured deposits, while financing cash inflows significantly decreased [Balance Sheet Item Variation Analysis](index=5&type=section&id=%EF%BC%881%EF%BC%89Balance%20Sheet) Key balance sheet changes include a 52.96% increase in construction in progress, an 87.10% rise in other non-current assets, a 100% decrease in short-term borrowings due to full repayment, and a 61.17% decline in taxes payable Key Balance Sheet Changes and Reasons | Statement Item | Change (%) | Reason | | :--- | :--- | :--- | | Construction in Progress | 52.96% | Due to increased investment in construction projects | | Other Non-Current Assets | 87.10% | Due to increased project prepayments | | Short-Term Borrowings | -100.00% | Due to full repayment of short-term borrowings in the current period | | Advances from Customers | 33.50% | Due to increased advance receipts for goods | | Taxes Payable | -61.17% | Due to a decrease in corporate income tax payable at period-end | | Interest Payable | -64.23% | Due to payment of interest on one-time principal and interest repayment borrowings | [Income Statement Item Variation Analysis](index=5&type=section&id=%EF%BC%882%EF%BC%89Income%20Statement) Significant income statement changes include a 48.51% increase in selling expenses due to higher sales and logistics costs, a 393.12% surge in R&D expenses from increased expensed R&D, and investment income primarily from structured deposits, absent in the prior period Key Income Statement Changes and Reasons | Statement Item | Change (%) | Reason | | :--- | :--- | :--- | | Selling Expenses | 48.51% | Due to increased product sales and logistics transportation costs in the current period | | R&D Expenses | 393.12% | Due to increased expensed R&D expenditures in the current period | | Other Income | 208.83% | Due to increased government grants received in the current period | | Investment Income | Not Applicable | Due to increased income from structured deposits in the current period | [Cash Flow Statement Item Variation Analysis](index=6&type=section&id=%EF%BC%883%EF%BC%89Cash%20Flow%20Statement) Cash flow statement changes include a significant increase in investing cash inflows and outflows due to the purchase (4.39 billion CNY) and redemption (4.12 billion CNY) of structured deposits, and a 100% decrease in financing cash inflows due to no new bank borrowings Key Cash Flow Statement Changes and Reasons | Statement Item | Change (%) | Reason | | :--- | :--- | :--- | | Cash Received from Disposal of Investments | Not Applicable | Primarily due to the maturity and recovery of structured deposits | | Cash Paid for Investments | Not Applicable | Primarily due to the purchase of structured deposits | | Cash Received from Borrowings | -100.00% | Primarily due to no new bank borrowings in the current period | [Appendix](index=7&type=section&id=Item%20IV.%20Appendix) This appendix provides the company's unaudited financial statements, including the balance sheet, income statement, and cash flow statement, as of and for the period ended September 30, 2019 [Financial Statements](index=7&type=section&id=4.1%20Financial%20Statements) This appendix provides the company's unaudited balance sheet as of September 30, 2019, and the income statement and cash flow statement for January-September 2019 [Balance Sheet](index=7&type=section&id=Balance%20Sheet) As of September 30, 2019, total assets were 18.73 billion CNY, with 4.69 billion CNY in current assets and 14.04 billion CNY in non-current assets, while total liabilities were 5.06 billion CNY and total owner's equity was 13.68 billion CNY Balance Sheet Summary (as of September 30, 2019) | Item | Amount (CNY) | | :--- | :--- | | **Total Assets** | **18,730,386,436.81** | | Total Current Assets | 4,689,502,732.68 | | Total Non-Current Assets | 14,040,883,704.13 | | **Total Liabilities** | **5,055,332,301.25** | | Total Current Liabilities | 3,165,253,536.98 | | Total Non-Current Liabilities | 1,890,078,764.27 | | **Total Owners' Equity** | **13,675,054,135.56** | [Income Statement](index=9&type=section&id=Income%20Statement) For Q1-Q3 2019, the company reported 10.61 billion CNY in operating revenue, 7.57 billion CNY in operating costs, and a net profit of 1.91 billion CNY, down from 2.54 billion CNY in the prior year, with basic earnings per share at 1.176 CNY Income Statement Summary (January-September 2019) | Item | Q1-Q3 2019 (CNY) | Q1-Q3 2018 (CNY) | | :--- | :--- | :--- | | I. Operating Revenue | 10,610,575,022.85 | 10,848,709,584.86 | | Less: Operating Costs | 7,567,456,466.28 | 7,277,487,235.40 | | R&D Expenses | 261,641,199.63 | 53,058,825.15 | | II. Operating Profit | 2,252,303,098.39 | 2,983,995,602.72 | | III. Total Profit | 2,250,693,767.75 | 2,981,660,273.25 | | IV. Net Profit | 1,912,377,944.89 | 2,534,570,945.55 | | VII. Basic Earnings Per Share (CNY/share) | 1.176 | 1.564 | [Cash Flow Statement](index=11&type=section&id=Cash%20Flow%20Statement) In Q1-Q3 2019, net cash flow from operating activities was 2.73 billion CNY, from investing activities was -0.97 billion CNY, and from financing activities was -1.53 billion CNY, with cash and cash equivalents totaling 1.51 billion CNY at period-end Cash Flow Statement Summary (January-September 2019) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | 2,725,199,308.37 | | Net Cash Flow from Investing Activities | -973,233,593.29 | | Net Cash Flow from Financing Activities | -1,524,683,270.72 | | Net Increase in Cash and Cash Equivalents | 227,304,357.64 | | Cash and Cash Equivalents at End of Period | 1,510,737,507.70 |