证券代码：600595 证券简称：中孚实业 公告编号：临 2023-055 河南中孚实业股份有限公司 关于召开 2023 年半年度业绩说明会的公告 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： 会议召开时间：2023 年 08 月 22 日（星期二）上午 10:00-11:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 08 月 15 日（星期二）至 08 月 21 日（星期一）16:00 前登录上证路演中心网站首页点击 "提问预征集"栏目或通过公司邮箱 zhqb@zfsy.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 河南中孚实业股份有限公司（以下简称"公司"）将于2023年8月19日发布 公司2023年半年度报告，为便于广大投资者更全面深入地了解公司2023年半年度 经营成果、财务状况，公司计划于2023年0 ...

证券代码：600595 证券简称：中孚实业 公告编号：临2023-029 河南中孚实业股份有限公司 关于公司参加河南辖区上市公司 2023 年 投资者网上集体接待日活动的公告 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： 活动时间：2023年5月18日（周四）16:00-17:20 活动方式：网络互动交流 一、活动概况 河南中孚实业股份有限公司（以下简称"公司"）2022年年度报告及2023 年第一季度报告已分别于2023年3月31日和4月28日在上海证券交易所网站披露。 为进一步加强与投资者的互动交流，公司定于2023年5月18日（周四）16:00-17:20 参加在全景网举办的"真诚沟通 传递价值"河南辖区上市公司2023年投资者网 上集体接待日活动，本次活动将采用网络远程的方式举行，投资者可登录"全 景•路演天下"（http://rs.p5w.net）参与本次互动交流。 二、活动时间及方式 1、活动时间：2023年5月18日（周四）16:00-17:20 2、活动方式：网络互动交流。 三、参加人员 ...

Financial Performance - The company's operating revenue for Q1 2023 was RMB 4,042,567,175.79, a decrease of 15.31% compared to the same period last year[35] - The net profit attributable to shareholders of the listed company was RMB 199,394,565.65, down 52.94% year-on-year[35] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 188,274,820.52, a decrease of 51.83% compared to the previous year[35] - The basic earnings per share for Q1 2023 was RMB 0.05, down 54.55% compared to the same period last year[35] - The net profit for the current period is CNY 245,439,413.06, a decrease from CNY 691,431,148.08 in the previous period, representing a decline of approximately 64.5%[44] - Operating profit for the current period is CNY 297,275,850.14, down from CNY 833,274,992.30, indicating a decrease of about 64.3%[44] - Total profit for the current period is CNY 296,409,703.44, compared to CNY 838,998,104.04 in the previous period, reflecting a decline of approximately 64.7%[44] - Total comprehensive income amounted to CNY 245,439,413.06, a decrease from CNY 691,431,148.08 in the previous year[62] - Net profit for the first quarter was CNY 30,353,289.79, down from CNY 39,743,119.01 year-over-year[68] Cash Flow - The net cash flow from operating activities was RMB 293,521,490.94, an increase of 5.90% year-on-year[35] - The company reported a net cash outflow of RMB 24,546,243.09 in cash and cash equivalents during Q1 2023[17] - The cash outflow from operating activities totals CNY 3,987,859,763.77, slightly down from CNY 4,078,453,220.72 in the previous period[46] - The net cash flow from operating activities is CNY 293,521,490.94, an increase from CNY 277,177,803.54 in the previous period, showing a growth of about 5.0%[46] - The net cash flow from financing activities decreased by 95.49% compared to the previous year, mainly due to cash received from stock disposals in the same period last year[55] - Operating cash flow generated a net outflow of CNY -475,988,871.92 compared to a net outflow of CNY -185,595,059.99 in the same quarter last year[69] - Cash flow from investing activities generated a net inflow of CNY 221,630,000.00, compared to no inflow reported in the previous year[69] Assets and Liabilities - The total assets at the end of Q1 2023 were RMB 23,283,029,317.63, a decrease of 3.75% from the end of the previous year[36] - The total assets decreased to CNY 23,283,029,317.63 from CNY 24,191,370,420.54, a decline of approximately 3.76%[61] - Current liabilities total CNY 2,057,349,522.79, a decrease from CNY 2,579,393,528.25, reflecting a decline of about 20.2%[48] - Total liabilities amounted to CNY 4,194,947,503.58, a decrease from CNY 4,508,021,239.96 year-over-year[66] - The total liabilities decreased to CNY 8,588,668,857.67 in Q1 2023 from CNY 9,774,633,242.39 in Q1 2022, indicating a reduction of 12.1%[76] - The total current assets as of March 31, 2023, were CNY 3,312,535,146.41, down from CNY 3,483,954,241.49 at the end of 2022[77] - The total non-current liabilities decreased to CNY 3,695,450,240.32 in Q1 2023 from CNY 3,750,674,077.98 in Q1 2022, a reduction of 1.5%[76] Equity - The equity attributable to shareholders of the listed company was RMB 12,347,982,087.11, an increase of 1.91% compared to the end of the previous year[36] - The total equity increased to CNY 9,372,105,324.58 from CNY 9,309,568,166.04 year-over-year[66] Expenses - Operating costs for Q1 2023 were CNY 3,744,216,714.29, down from CNY 4,055,476,735.47 in Q1 2022, reflecting a decrease of about 7.68%[61] - Research and development expenses decreased by 62.20% to CNY 67,913,615.07 from CNY 179,670,265.15 in the previous year[61] - Research and development expenses in Q1 2023 were CNY 4,012,396.10, significantly lower than CNY 38,024,672.16 in Q1 2022, a decrease of 89.4%[79] - Other income decreased by 73.78% primarily due to a reduction in government subsidies received[54] - The company paid CNY 3,006,180,581.16 for goods and services, a decrease from CNY 3,548,278,041.20 in the previous year[69] Investments - The company received government subsidies amounting to CNY 6,340,197.26, which are closely related to normal business operations[53] - Trading financial assets increased by 581.68% mainly due to an increase in aluminum futures investments[54] - Accounts receivable financing rose by 70.72% as a result of an increase in bank acceptance bills received from sales[54] - Short-term borrowings increased by 41.99% due to new borrowings during the period[54] - The company received CNY 420,000,000.00 in investment income during the quarter[69]

证券代码：600595 证券简称：中孚实业 公告编号：临 2023-023 河南中孚实业股份有限公司 关于召开 2022 年度业绩说明会的公告 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： 会议召开时间：2023 年 04 月 18 日（星期二）上午 10:00-11:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 11 日（星期二）至 04 月 17 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过 zhqb@zfsy.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 河南中孚实业股份有限公司（以下简称"公司"）已于 2023 年 3 月 31 日发布 公司 2022 年年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营 成果、财务状况，公司计划于 ...

Financial Performance - The company reported a total revenue of 46,543,721,000, with a significant increase of 506.92% compared to the previous period[40]. - The company's operating revenue for 2022 was approximately ¥17.52 billion, an increase of 14.61% compared to ¥15.28 billion in 2021[59]. - The net profit attributable to shareholders for 2022 was approximately ¥1.05 billion, representing a 60.06% increase from ¥655.98 million in 2021[59]. - The net cash flow from operating activities for 2022 was approximately ¥1.64 billion, up 23.42% from ¥1.33 billion in 2021[59]. - The net assets attributable to shareholders increased by 33.90% to approximately ¥12.12 billion at the end of 2022[59]. - The company achieved a revenue of 17.52 billion RMB in 2022, an increase of 14.61% compared to the previous year, and a net profit attributable to shareholders of 1.05 billion RMB, up 60.06% year-on-year[89]. - The company reported a basic earnings per share of CNY 0.27 for 2022, unchanged from 2021, while the diluted earnings per share also remained at CNY 0.27[84]. - The company experienced a 10.71% decrease in basic earnings per share after deducting non-recurring gains and losses, dropping to CNY 0.25 from CNY 0.28 in 2021[84]. - The weighted average return on net assets decreased to 9.45% in 2022 from 17.94% in 2021, reflecting an 8.49% decline[84]. Strategic Focus and Growth - The company aims to enhance its high-end aluminum processing competitiveness and focus on profitable growth in 2023[19]. - The company is focused on expanding its market presence and enhancing its product offerings through new technologies and strategies[40]. - The company is actively involved in mergers and acquisitions to strengthen its market position and operational capabilities[40]. - The company is focusing on transforming into an advanced aluminum processing enterprise to capitalize on opportunities in the new energy sector[180]. - The company aims to enhance profitability and market share by leveraging its existing brand and technology advantages in the aluminum processing industry[66]. Risk Management - The company faces risks from increased competition in the aluminum processing sector and plans to optimize product structure to mitigate this[20]. - Major raw material prices, including aluminum and coal, are subject to market fluctuations, which could impact production costs[20]. - The company will manage exchange rate risks to mitigate uncertainties in export revenues[21]. - The company has implemented a credit risk assessment method for financial assets, categorizing them into three stages based on the increase in credit risk since initial recognition[42]. - The company has a strategy for managing financial instruments, including assessing credit risk and expected credit losses[48]. Corporate Governance - The board of directors proposed no profit distribution for 2022 due to negative retained earnings[5]. - The board held 9 meetings during the reporting period, ensuring compliance with governance regulations[26]. - The company is committed to maintaining shareholder rights and transparency in related party transactions[25]. - The company has established a robust corporate governance structure, with clear roles for the shareholders' meeting, board of directors, and supervisory board[31]. - The company has no significant competition or related party transactions with controlling shareholders, ensuring fair trading practices[33]. Research and Development - The company has established several research and development platforms to support innovation and has undertaken key provincial and municipal research projects[78]. - The company has developed new products such as ultra-thin aluminum can materials and aluminum foil for new energy battery applications, expanding its product range[78]. - The company has obtained 69 authorized patents during the reporting period, focusing on new products for the new energy battery sector, including aluminum foil for battery aluminum-plastic films and current collectors[92]. - Research and development expenses totaled 624,421,128.31 yuan, accounting for 3.56% of operating revenue[121]. - The company has a total of 423 R&D personnel, representing 4.43% of the total workforce[121]. Environmental Initiatives - The company has upgraded its production processes to meet stringent environmental standards, which may increase operational costs[21]. - A wastewater zero discharge project has been initiated to enhance the company's green transformation efforts, with phase one already operational[68]. - The company is focusing on green, low-carbon, and circular development, enhancing its competitive edge in the aluminum deep processing sector through technology research and development[75]. - The company plans to start commissioning a new green packaging materials project in June 2023, which will have an annual capacity of 120,000 tons[66]. - The company is focusing on technological innovation to support sustainable development and improve management through digitalization[68]. Financial Position and Investments - The company's total assets at the end of 2022 were approximately ¥24.19 billion, a 10.83% increase from ¥21.83 billion at the end of 2021[59]. - The company’s long-term equity investments decreased by 78.77% to CNY 89,931.79 million, primarily due to the consolidation of Guangyuan High-Precision Aluminum Materials into the financial statements[145]. - The company’s intangible assets increased by 65.15% to CNY 2,593,279.45 million, reflecting ongoing investments in technology and product development[145]. - The company’s short-term borrowings decreased by 92.19% to CNY 49,903.75 million, primarily due to the settlement of notes[145]. - The company invested CNY 0.29 billion in a new production line project for aluminum and aluminum alloy strip coatings, with a total investment of CNY 0.29 billion to date[153].

2022 年第三季度报告 单位：元 币种：人民币 证券代码：600595 证券简称：中孚实业 河南中孚实业股份有限公司 2022 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法律责任。 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。 公司负责人马文超、主管会计工作负责人郎刘毅及会计机构负责人（会计主管人员）张哲保 证季度报告中财务信息的真实、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 - The company's operating revenue for the first half of 2022 reached CNY 9,992,812,121.60, representing a 43.47% increase compared to CNY 6,965,116,515.74 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 983,500,335.52, a significant increase of 155.42% from CNY 385,047,669.95 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 950,002,044.08, up 137.96% from CNY 399,233,095.60 in the same period last year[22]. - The net cash flow from operating activities was CNY 398,802,737.23, reflecting a 53.10% increase compared to CNY 260,480,455.00 in the previous year[22]. - In the first half of 2022, the company achieved operating revenue of CNY 9.993 billion, an increase of 43.47% year-on-year, and a total profit of CNY 1.741 billion, up 75.44% from the previous year[38]. - The aluminum deep processing business recorded a sales volume of 251,100 tons, a year-on-year increase of 9.96%, with core products accounting for approximately 80% of total sales[39]. - The average price of aluminum ingots was CNY 21,398.63 per ton, reflecting a year-on-year increase of about 23%, benefiting the company's performance through its green hydropower aluminum business[40]. - Operating income from the non-ferrous metals sector was CNY 8.967 billion, with a gross margin of 22.11%, reflecting a year-on-year increase of 45.11%[50]. - The coal business's operating income surged by 211.13% year-on-year, with a gross margin of 53.83%[50]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 23,334,513,867.13, a 6.90% increase from CNY 21,827,357,770.34 at the end of the previous year[22]. - The total liabilities decreased by 31.47% to CNY 734.99 million, reflecting the company's efforts to reduce debt through restructuring[54]. - Cash and cash equivalents at the end of the period amounted to CNY 3.19 billion, representing 13.66% of total assets, an increase of 43.19% from the previous year[54]. - Short-term borrowings decreased by 92.19% to CNY 49.89 million, reflecting the execution of a restructuring plan to settle debts[54]. - Total current assets increased to ¥7,405,858,882.12 from ¥5,858,371,418.49, representing a growth of approximately 26.4%[166]. - Total liabilities decreased to ¥9,008,575,562.41 from ¥10,214,844,707.02, a reduction of about 11.8%[170]. - The company's equity increased to RMB 8,735,874,308.37, up from RMB 6,502,578,491.77, marking a growth of 34.3%[176]. Research and Development - The company filed 43 patents and received 32 authorized patents during the reporting period, enhancing its technological innovation capabilities[45]. - Research and development expenses for the first half of 2022 were RMB 368,212,719.15, an increase from RMB 310,523,063.97 in the previous year[181]. - The company has a strong focus on technological innovation, with significant achievements in energy-saving technologies for aluminum electrolysis, leading to a reduction of 500 kWh in direct current consumption per ton of aluminum[33]. Environmental Initiatives - The company has established a "green hydropower aluminum" industry layout, significantly reducing carbon emissions by approximately 11 tons per ton of aluminum produced compared to traditional thermal power methods[31]. - The company is committed to sustainable development and has optimized its industrial structure to enhance market competitiveness while adhering to green and low-carbon development principles[28]. - The company has implemented a plan to increase the use of recycled aluminum, which has lower energy consumption, thereby reducing carbon emissions[107]. - The company has successfully transferred 250,000 tons of electrolytic aluminum capacity to environmentally friendly hydropower resources in Sichuan, significantly reducing carbon emissions[107]. - In March 2022, the company was fined 20,250 RMB for failing to timely pay carbon emission allowances for the 2019-2020 period[101]. Corporate Governance and Shareholder Information - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The company approved the 2022 Restricted Stock Incentive Plan, with 91.85 million shares granted on July 1, 2022[88]. - The largest shareholder, Henan Yulian Energy Group, held 811,248,821 shares, representing 20.68% of the total shares, with no changes during the reporting period[154]. - The company granted 91.85 million restricted stocks to 289 incentive objects as part of its 2022 incentive plan, increasing the total shares from 3,922,448,114 to 4,014,298,114[151]. Risks and Challenges - The company faces economic operation risks brought by the COVID-19 pandemic, which may affect production and operations[74]. - Industry competition is intensifying, especially in the aluminum deep processing sector, leading to fierce market competition[75]. - Major raw material price fluctuation risks, particularly in aluminum and alumina prices, may impact production costs[76]. - Export risks and exchange rate fluctuations may affect the revenue from the company's export products[78].

证券代码：600595 证券简称：中孚实业 公告编号：临2022-040 河南中孚实业股份有限公司 关于公司参加河南辖区上市公司 2022 年 投资者网上集体接待日活动召开情况的公告 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。 一、本次活动召开情况 河南中孚实业股份有限公司（以下简称"公司"）于2022年5月30日（周一） 15:30—17:00参加在全景网举办的"真诚沟通 传递价值"河南辖区上市公司2022 年投资者网上集体接待日活动。公司董事长马文超先生、董事会秘书杨萍女士和 总会计师郎刘毅女士出席了本次活动，与投资者进行了互动交流。 二、本次活动投资者提出的主要问题及公司的回复情况 问题 1、问下你们公司今年准备分红吗或者转送股票？ 回复：感谢您对公司的关注！经北京兴华会计师事务所（特殊普通合伙）审 计，本公司 2021 年初未分配利润为人民币-440,229.44 万元，加上 2021 年度归属 于母公司净利润为人民币 65,598.44 万元，截至 2021 年末未分配利润为人民币 -374,631.00 ...

证券代码：600595 证券简称：中孚实业 公告编号：临2022-035 河南中孚实业股份有限公司 关于公司参加河南辖区上市公司 2022 年 投资者网上集体接待日活动的公告 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： 活动时间：2022年5月30日（周一）15:30-17:00 活动方式：网络互动交流 一、活动概况 河南中孚实业股份有限公司（以下简称"公司"）2021年年度报告及2022 年第一季度报告已于2022年4月30日在上海证券交易所网站披露。为进一步加强 与投资者的互动交流，公司定于2022年5月30日（周一）15:30-17:00参加在全景 网举办的"真诚沟通 传递价值"河南辖区上市公司2022年投资者网上集体接待 日活动，本次活动将采用网络远程的方式举行，投资者可登录"全景•路演天下" （http://rs.p5w.net）参与本次互动交流。 二、活动时间及方式 1、活动时间：2022年5月30日（周一）15:30-17:00 2、活动方式：网络互动交流。 三、参加人员 出席本次投资者 ...

Financial Performance - The company reported a net profit attributable to the parent company of RMB 65.6 million for the year 2021, with an accumulated undistributed profit of RMB -374.6 million by the end of the reporting period[6]. - The company's operating revenue for 2021 was CNY 15,283,365,032.29, an increase of 86.83% compared to CNY 8,180,407,197.16 in 2020[26]. - The net profit attributable to shareholders in 2021 was CNY 655,984,410.22, a significant recovery from a loss of CNY 1,783,435,704.13 in 2020[26]. - The net cash flow from operating activities reached CNY 1,330,754,769.55, representing a 145.76% increase from CNY 541,490,154.93 in 2020[26]. - The company's total assets as of the end of 2021 were CNY 21,827,357,770.34, up 7.70% from CNY 20,266,150,475.35 at the end of 2020[26]. - Basic earnings per share for 2021 were CNY 0.27, a recovery from a loss of CNY 0.91 in 2020[26]. - The weighted average return on equity increased to 17.94% in 2021, up from -70.95% in 2020, marking an improvement of 88.89 percentage points[26]. - The company reported a quarterly net profit of CNY 211,790,957.53 in Q2 2021, compared to CNY 173,256,712.42 in Q1 2021[28]. - Non-recurring gains and losses for 2021 totaled CNY -34,001,786.17, a significant improvement from CNY -832,987,358.9 in 2020[32]. Capital Structure and Shareholder Information - The total share capital increased from 1,961,224,057 shares to 3,922,448,114 shares due to a capital reserve conversion, with a ratio of 1:1 for the conversion[12]. - The company will not distribute profits or implement capital reserve conversion into share capital for the year due to negative undistributed profits[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures in providing guarantees[8]. - The company has maintained independent bank accounts and does not share accounts with controlling shareholders[109]. - The company has a clear policy for independent tax payment without any influence from controlling shareholders[109]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[114]. - The total pre-tax remuneration for the chairman of the board was 3.85 million yuan, while the general manager received 3.12 million yuan[114]. Corporate Governance - The board of directors and management have confirmed the accuracy and completeness of the financial report[4]. - The company has a complete corporate governance structure with a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and senior management[111]. - The board of directors includes independent members, ensuring diverse perspectives in decision-making processes[135]. - The management team emphasizes a flat organizational structure and efficient decision-making processes, aiming to attract and retain top talent through a performance-based compensation system[55]. - The company has a robust governance framework that prevents direct interference from shareholders in operational activities[111]. - The audit committee convened 4 times, reviewing the annual report and audit results, confirming the financial statements accurately reflect the company's financial status as of December 31, 2020[135]. Market and Operational Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[26]. - The company is focused on high-end markets, including automotive and aerospace, leveraging its technological and resource advantages to enhance product value[50]. - The company is expanding its market share in aluminum deep processing by initiating the construction of a fourth cold rolling mill to meet growing demand[38]. - The company plans to focus on green, low-carbon, and lightweight development, aiming to become a high-end aluminum alloy new material supplier with international competitiveness[95]. - The company is exploring potential mergers and acquisitions to enhance its market position, with a focus on companies that align with its strategic goals[117]. Environmental Compliance and Sustainability - The company has implemented strict environmental standards and upgraded production processes to ensure compliance and efficient operation[102]. - The company has established a "green hydropower aluminum" production layout, significantly reducing carbon emissions compared to traditional methods[49]. - The company has committed to using its operating income and other means to repay the occupied funds by the end of 2023[177]. - The company has increased the use of recycled aluminum in various products to lower energy consumption and carbon emissions[165]. - Zhongfu Electric's wastewater and air pollutant emissions were within the permitted limits, with wastewater COD at 34.65 tons and ammonia nitrogen at 0.95 tons; air pollutants included sulfur dioxide at 463.61 tons and nitrogen oxides at 756.28 tons[151]. Risks and Challenges - The company faces risks from the ongoing COVID-19 pandemic, which may impact production and operations if not effectively controlled[97]. - The company is exposed to industry competition risks due to the expansion of large aluminum enterprises into downstream processing, necessitating improvements in product cost, process, and quality[100]. - The company's main raw materials include primary aluminum, alumina, and coal, with price fluctuations posing a significant risk to production costs[101]. - External uncertainties, including the pandemic and trade disputes, may affect the company's export products and revenue due to exchange rate fluctuations[103]. Legal and Regulatory Matters - The company is currently involved in significant litigation, including a case where Huarong Financial Leasing Co., Ltd. is seeking repayment of 634.9685 million yuan, with part of the debt already settled[191]. - The company is also facing a lawsuit from China Nonferrous Metal Industry Sixth Metallurgical Construction Co., Ltd. for 53.899 million yuan related to a construction contract dispute[192]. - The company has been under court-ordered reorganization since December 2020, impacting its operational and financial strategies[188]. - The management team is actively working on debt repayment plans as per the reorganization guidelines, ensuring compliance with court rulings[192].