Financial Performance - The company's operating revenue for the first half of 2020 was CNY 62,003,652.72, a decrease of 31.19% compared to CNY 90,113,530.41 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was a loss of CNY 412,631.82, representing a decline of 122.47% compared to a profit of CNY 1,836,041.82 in the previous year[20]. - The basic earnings per share for the first half of 2020 was -0.001 CNY, down 116.67% from 0.006 CNY in the same period last year[18]. - The company reported a net cash flow from operating activities of -9,311,261.02 CNY, a decrease of 122.92% compared to 40,626,454.68 CNY in the previous year[20]. - The total assets at the end of the reporting period were CNY 669,326,564.03, a decrease of 0.73% from CNY 674,251,448.98 at the end of the previous year[20]. - The company’s weighted average return on equity was -0.07%, down 0.36 percentage points from 0.29% in the same period last year[18]. - In the first half of 2020, the company experienced a 31.19% year-on-year decline in total revenue, amounting to 62.00 million yuan, with a net loss attributable to shareholders of 0.41 million yuan, a decrease of 122.47%[34]. - The average selling price of strontium carbonate and sulfur decreased by 13.54% and 39.68% respectively compared to the previous year, impacting profitability[34]. - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to weakened downstream demand and falling sales prices[41]. - The company reported a net loss of ¥1,975,886.94 as of June 30, 2020, compared to a loss of ¥1,563,255.12 at the end of 2019[76]. Production and Sales - The company primarily engages in the production and sales of strontium salt series products, including strontium carbonate and strontium nitrate, which are used in various industrial applications[22]. - The production capacity includes 20,000 tons/year of strontium carbonate and 2,000 tons/year of metallic strontium[22]. - The company reported a significant increase in metal strontium production by 110% to 714 tons, with sales surging by 279.33% to 569 tons[33]. - Strontium carbonate production increased by 22.60% to 9,381 tons, while sales rose by 10.39% to 6,322 tons compared to the same period in 2019[33]. - The company adopts an "order-based production" model, adjusting production plans based on customer orders and market changes[22]. Research and Development - Research and development expenses surged by 219.45% to ¥3,339,892.75, up from ¥1,045,505.16 in the previous year[37]. - The company has a total of 57 patents, including 5 invention patents, enhancing its competitive edge in production technology and environmental safety[28]. - The company is transitioning towards low-pollution, high-purity functional materials, focusing on product innovation and technological upgrades[26]. Financial Position - The company maintains a low debt-to-asset ratio and strong cash flow, providing a solid foundation for sustainable development[29]. - The total current assets as of June 30, 2020, amount to ¥454,118,922.98, a slight decrease from ¥460,526,537.05 at the end of 2019[74]. - Cash and cash equivalents decreased from ¥263,631,364.78 in December 2019 to ¥61,708,228.68 in June 2020[74]. - Total liabilities decreased from ¥58,568,483.70 to ¥53,604,567.88, reflecting a reduction of about 8.5%[76]. - The company's total assets as of June 30, 2020, are ¥669,326,564.03, down from ¥674,251,448.98 at the end of 2019[76]. - The equity attributable to shareholders increased slightly from ¥615,682,965.28 to ¥615,721,996.15[76]. Market and Competition - The company faces risks related to industry competition, raw material prices, and environmental regulations, which could impact operational performance[42][43]. - The company is actively expanding its market presence and adjusting its product structure to enhance sales through diversified marketing strategies[31]. - The company has reported a 50.89% decrease in accounts payable to ¥17,822,015.66 from ¥36,290,059.69 year-on-year[38]. Environmental Compliance - The company strictly adheres to environmental regulations, ensuring all pollutants are discharged within legal limits and has not faced any penalties from environmental authorities[54]. - The actual emission concentration of SO2 from the rotary kiln is 77.93 mg/m³, which is below the limit of 100 mg/m³[55]. - The company achieved a 100% utilization rate of waste generated, specifically 25,000 tons of strontium slag, which is used in brick and cement production[55]. - The company’s pollution control facilities maintained normal operation, achieving compliance with emission standards[58]. - The company has established emergency response plans for environmental incidents, including risk assessment reports and emergency drills[58]. Shareholder and Ownership Structure - The controlling shareholder, Qingtou Group, holds 42.50% of the company's total share capital, with 98.32% of its shares pledged and subject to judicial freezing[50]. - Qingtou Group has committed to not engaging in any business that competes with Qinglong Strontium Salt, ensuring no direct or indirect competition[48]. - The company has completed the acquisition of 100% equity in Qinglong Strontium Salt, eliminating competition in the strontium carbonate business with Jinrui Mining[48]. - The company is closely monitoring the restructuring of its controlling shareholder, which may lead to changes in control and operational stability[43]. Accounting Policies and Financial Reporting - The company has implemented a new revenue recognition policy effective from January 1, 2020, which will not significantly impact its financial status[61]. - The company’s financial statements are prepared based on the going concern principle, reflecting its financial position and operating results accurately[111]. - The company recognizes revenue when control of goods or services is transferred to the customer, which occurs at a specific point in time[181]. - The company has adopted the new revenue recognition standards effective January 1, 2020, as per the Ministry of Finance's guidelines[192]. - The company does not report any changes in accounting policies or prior period error corrections during the current period[94].

Financial Performance - In 2019, the company achieved a total revenue of ¥166,701,986.75, representing a 6.07% increase compared to ¥157,160,944.69 in 2018[19] - The net profit attributable to shareholders was -¥9,422,843.51, a significant decrease of 141.44% from a profit of ¥22,738,117.94 in 2018[19] - The net cash flow from operating activities was ¥28,890,048.78, recovering from -¥42,487,423.74 in the previous year[19] - The total assets at the end of 2019 were ¥674,251,448.98, a slight decrease of 0.48% from ¥677,499,700.24 in 2018[19] - The company's net assets attributable to shareholders decreased by 1.45% to ¥615,682,965.28 from ¥624,735,922.10 in 2018[19] - Basic earnings per share for 2019 were -¥0.03, down 137.50% from ¥0.08 in 2018[20] - The weighted average return on equity was -1.52%, a decrease of 5.23 percentage points from 3.71% in 2018[20] - The company reported a significant increase in R&D expenses, which rose by 382.28% to CNY 6.34 million[35] - The company reported a net profit of -26,076,782.74 RMB for the parent company in 2018, leading to no profit distribution for that year[91] - The consolidated financial statements showed an undistributed profit of 7,859,588.39 RMB at year-end 2018[91] Operational Highlights - The company launched new production lines for 2,000 tons/year of metallic strontium and 5,000 tons/year of aluminum-strontium alloy, expanding its product offerings beyond strontium carbonate[23] - The sales volume and prices of strontium series products decreased year-on-year due to market supply and demand factors, leading to a significant decline in operating performance[24] - The company faced challenges such as rising raw material costs and increased safety and environmental protection expenditures, which contributed to a substantial drop in profits[25] - The company is actively optimizing production processes and enhancing product quality to maintain a competitive position in the strontium industry[29] - The company plans to enhance production capacity and quality to improve market competitiveness in the strontium salt industry[55] Research and Development - The company holds a total of 57 patents, including 5 invention patents, with 10 new patents obtained in 2019, enhancing its competitive edge in strontium product technology[26] - Research and development expenses surged by 382.28% year-on-year to CNY 6,337,643.83, reflecting the company's increased investment in R&D and hiring of additional personnel[45] - The proportion of research and development expenses to operating income was 3.80%, with 22 R&D personnel constituting 6.59% of the total workforce[48] Market and Industry Conditions - The overall industry is experiencing weakened demand and increased competition, impacting the company's profitability and market position[25] - The strontium salt industry faced challenges such as insufficient ore supply and rising raw material costs, leading to overall industry profit decline and intensified competition[81] - The company’s major raw material, celestite, is in tight supply globally, impacting production costs significantly[85] Environmental and Safety Management - The company has implemented strict environmental management practices, ensuring all pollutants are discharged according to national standards without incurring penalties from environmental authorities[118] - The company has established emergency response plans for environmental incidents, including risk assessment reports and clean production audits[122] - The company has obtained the necessary environmental impact assessment qualifications and pollutant discharge permits for its projects[122] - The company maintains normal operation of all pollution control facilities, ensuring compliance with emission standards[120] Shareholder and Governance - The controlling shareholder, Qingtou Group, holds 122,467,041 shares, accounting for 42.50% of the total share capital, with 120,408,813 shares (98.32% of their holdings) pledged[86] - The company has committed to avoiding future competition with its controlling shareholder, Qingtou Group, by prioritizing the transfer of competing assets at reasonable prices[95] - The company has established a robust internal control system to mitigate risks and ensure stable development, with a focus on optimizing key business risk processes[153] - The company has implemented a strict information disclosure policy, ensuring timely and accurate communication with all shareholders[154] Financial Position and Cash Flow - The total liabilities rose to CNY 58,568,483.70 in 2019, compared to CNY 52,763,778.14 in 2018, indicating an increase of approximately 11%[179] - Cash and cash equivalents decreased to CNY 263,631,364.78 in 2019 from CNY 346,122,176.19 in 2018, a decrease of approximately 23.8%[177] - The total cash inflow from investment activities was ¥550,013,337.51, while the cash outflow was ¥466,530,418.84, resulting in a net cash flow of ¥83,482,918.67, compared to a negative net cash flow of ¥44,141,020.21 in 2018[191] - The company generated cash inflows from operating activities totaling CNY 157,667,231.90 in 2019, an increase from CNY 149,971,600.18 in 2018[190] Employee and Management Structure - The total remuneration for directors, supervisors, and senior management in 2019 amounted to 1.7985 million yuan, including 120,000 yuan for independent directors and 1.6785 million yuan for other directors and management[143] - The company had a total of 334 employees, with 39 in the parent company and 295 in major subsidiaries[146] - The employee composition included 219 production personnel, 55 technical personnel, and 6 sales personnel[146] Compliance and Legal Matters - The company has not experienced any significant litigation or arbitration matters during the year[101] - The company has not initiated any share buyback programs during the reporting period[94] - The company has committed to resolving any competition issues with its controlling shareholder, Qing Investment Group, as detailed in the compliance section[160]

Financial Performance - Total revenue for Q1 2020 was CNY 29,472,323.84, a decrease of 48.23% compared to CNY 56,927,010.19 in the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 2,943,141.43, compared to a loss of CNY 992,106.29 in the previous year[7] - The company reported a gross profit margin of approximately -10.6% for Q1 2020, compared to a margin of -1.4% in Q1 2019[19] - Net loss for Q1 2020 was CNY 2,943,141.43, compared to a net loss of CNY 992,106.29 in Q1 2019, indicating a significant increase in losses[20] - The total comprehensive loss for Q1 2020 was CNY 2,943,141.43, compared to a loss of CNY 992,106.29 in Q1 2019[20] Cash Flow and Liquidity - Operating cash flow for the period was a negative CNY 5,678,789.75, a decline of 113.82% from CNY 41,085,866.45 in the prior year[7] - Total cash inflow from operating activities was 21,182,712.41 RMB, down 70.9% from 72,695,622.71 RMB in the same period last year[25] - The company reported a total cash outflow from operating activities of 26,861,502.16 RMB, which is a decrease of 15.5% compared to 31,609,756.26 RMB in Q1 2019[25] - The company's cash and cash equivalents dropped significantly to CNY 20,562,818.86 from CNY 263,631,364.78, a decline of about 92.2%[13] - The company's cash and cash equivalents at the end of Q1 2020 were 20,562,818.86 RMB, a decrease of 94.6% from 380,469,713.41 RMB at the end of Q1 2019[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 672,265,390.88, a decrease of 0.29% from CNY 674,251,448.98 at the end of the previous year[7] - The company's total assets decreased slightly to CNY 672,265,390.88 from CNY 674,251,448.98, a decline of about 0.28%[15] - Total current assets as of March 31, 2020, amounted to CNY 462,570,601.45, slightly up from CNY 460,526,537.05 as of December 31, 2019, indicating a growth of approximately 0.44%[13] - The total liabilities amounted to CNY 29,805,327.82, while total equity was CNY 580,259,057.03 as of the end of Q1 2020[18] - Total liabilities as of March 31, 2020, were CNY 59,349,874.58, compared to CNY 58,568,483.70 at the end of 2019, representing an increase of approximately 1.33%[15] Research and Development - The company reported a significant increase in R&D expenses, totaling CNY 1,991,904.34, up 481.84% from CNY 342,345.50 in the previous year[9] - Research and development expenses rose to CNY 1,991,904.34 in Q1 2020, compared to CNY 342,345.50 in Q1 2019, marking an increase of 482%[19] Equity and Retained Earnings - The company's retained earnings showed a negative balance of CNY -4,506,396.55, worsening from CNY -1,563,255.12 at the end of 2019[15] - The total equity attributable to shareholders decreased to CNY 612,915,516.30 from CNY 615,682,965.28, a decline of about 0.45%[15] - The company reported a net loss of CNY 32,511,370.86 in retained earnings[35] Investment Activities - The company’s cash flow from investment activities was a negative CNY 237,389,756.17, compared to a negative CNY 6,738,329.23 in the previous year[9] - Investment activities resulted in a net cash outflow of 237,389,756.17 RMB, a substantial increase from 6,738,329.23 RMB in Q1 2019, indicating a shift in investment strategy[26] - The company is focusing on investment in fixed assets, with 234,000,000.00 RMB allocated for investments in Q1 2020, reflecting a strategic shift towards long-term asset development[27] Changes in Accounting Standards - The company has adopted new revenue and leasing standards starting in 2020, which may impact future financial reporting and performance metrics[28] - The company executed the new revenue recognition standard starting January 1, 2020, impacting financial statement adjustments[32]

Financial Performance - Operating revenue for the first nine months reached CNY 124,776,416.78, a 35.79% increase year-on-year[7] - Net profit attributable to shareholders decreased by 91.52% to CNY 1,322,202.27 for the first nine months[7] - Operating revenue for the current period reached ¥124,776,416.78, a 35.79% increase compared to ¥91,890,071.46 in the same period last year, primarily due to increased sales of metal strontium and strontium-aluminum alloy products[12] - Operating costs rose to ¥107,421,360.36, reflecting a 76.52% increase from ¥60,854,133.55, driven by the same factors as revenue growth[12] - The company anticipates a significant decline in cumulative net profit compared to the same period last year, primarily due to decreased sales revenue and prices of strontium carbonate products[16] - Total operating revenue for Q3 2019 reached ¥34,662,886.37, an increase of 7.66% compared to ¥32,196,787.88 in Q3 2018[28] - Net profit for the first three quarters of 2019 was ¥124,776,416.78, compared to ¥91,890,071.46 in the same period of 2018, reflecting a growth of 35.8%[28] Cash Flow - Net cash flow from operating activities surged by 205.81% to CNY 40,419,695.89 compared to the same period last year[7] - Net cash flow from operating activities improved significantly to ¥40,419,695.89, a 205.81% increase from ¥13,217,293.38, mainly due to cash received from aluminum ingot trade[15] - Operating cash inflow for the first three quarters of 2019 reached ¥133,820,792.54, a significant increase from ¥79,952,207.40 in the same period of 2018, representing a growth of approximately 67.5%[34] - Net cash flow from operating activities for the first three quarters of 2019 was ¥40,419,695.89, compared to ¥13,217,293.38 in 2018, indicating a year-over-year increase of about 206.5%[34] - Cash inflow from operating activities for the first three quarters of 2019 was ¥21,123,016.31, a substantial increase from ¥560,794.39 in 2018[37] - The net cash flow from operating activities for the first three quarters of 2019 was ¥12,996,508.79, compared to a negative cash flow of -¥6,297,541.80 in 2018[37] Assets and Liabilities - Total assets increased by 1.54% to CNY 687,901,730.27 compared to the end of the previous year[7] - Total liabilities as of September 30, 2019, amounted to ¥61,363,849.71, an increase from ¥52,763,778.14 at the end of 2018[26] - Total assets as of September 30, 2019, were ¥687,901,730.27, compared to ¥677,499,700.24 at the end of 2018[26] - The company's cash and cash equivalents stood at ¥342,982,487.67, slightly up from ¥334,849,757.74 at the end of 2018[24] - The total equity attributable to shareholders was ¥626,537,880.56, a marginal increase from ¥624,735,922.10 at the end of 2018[26] Shareholder Information - The number of shareholders reached 17,462 at the end of the reporting period[10] - The top shareholder, Qinghai Investment Group Co., Ltd., holds 42.50% of the shares, totaling 122,467,041 shares[10] - The company has established a shareholder return plan for the next three years (2019-2021) to ensure stable dividend policies and protect shareholder rights[14] Research and Development - R&D expenses surged by 201.35% to ¥2,874,539.36 from ¥953,902.76, attributed to an increase in R&D personnel and investment[12] - Research and development expenses for Q3 2019 were ¥1,829,034.20, significantly higher than ¥306,478.96 in Q3 2018, indicating a focus on innovation[28] Other Financial Metrics - The weighted average return on equity dropped by 2.35 percentage points to 0.21%[7] - The company reported a substantial increase in non-operating income, which reached ¥858,952.50, a 360.88% rise from ¥186,370.35, mainly due to increased government subsidies[12] - The company's management fees increased by 38.56% to ¥15,847,390.31 from ¥11,436,995.52, primarily due to the growth in metal strontium and strontium-aluminum alloy products[12] - The company incurred asset impairment losses of CNY -100,352.82 in Q3 2019, compared to CNY -315,587.59 in the previous year[29] - The financial expenses for Q3 2019 were CNY -3,042,617.53, a significant increase from CNY -15,165.64 in Q3 2018[31]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 90,113,530.41, representing a 50.96% increase compared to CNY 59,693,283.58 in the same period last year[16]. - The net profit attributable to shareholders of the listed company decreased by 74.68% to CNY 1,836,041.82 from CNY 7,251,702.26 year-on-year[16]. - Basic earnings per share decreased by 80% to CNY 0.006 from CNY 0.03 in the same period last year[17]. - The weighted average return on net assets decreased by 0.91 percentage points to 0.29% from 1.20% year-on-year[17]. - The company reported a net profit of CNY 1.84 million for the period, reflecting the challenges in maintaining profitability amid rising costs and declining sales[29]. - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to falling sales prices of strontium salt products and rising raw material costs[36]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 297.14% to CNY 40,626,454.68 compared to CNY 10,229,846.06 in the previous year[16]. - The total cash inflow from operating activities was CNY 99,855,881.45 in the first half of 2019, compared to CNY 52,374,885.52 in the same period of 2018, marking an increase of approximately 90.5%[77]. - The company reported a net cash flow from investment activities of CNY 163,538,357.57 in the first half of 2019, a turnaround from a negative cash flow of CNY 234,764,512.18 in the same period of 2018[78]. - The total cash and cash equivalents at the end of the first half of 2019 amounted to CNY 355,423,209.58, a significant increase from CNY 18,215,954.02 at the end of the first half of 2018[78]. Assets and Liabilities - The company’s total assets at the end of the reporting period were CNY 699,635,160.95, a 3.27% increase from CNY 677,499,700.24 at the end of the previous year[16]. - The company's fixed assets rose significantly to RMB 153,849,808.50 from RMB 95,791,723.82, indicating a strong investment in long-term assets[66]. - Total liabilities increased to CNY 73,100,938.65, up from CNY 52,763,778.14, representing a growth of approximately 38.7%[67]. - Accounts payable surged by 217.98% to 36,290,059.69 RMB, primarily due to increased payables related to metal strontium and strontium-aluminum alloy projects[34]. Business Operations and Strategy - The company has expanded its main business to include the production and sales of metallic strontium and strontium-aluminum alloy products, with a capacity of 2,000 tons/year for metallic strontium and 5,000 tons/year for strontium-aluminum alloy[21]. - The company operates on an "order-based production" model, focusing on product research and development, production processing, and sales[21]. - The company is actively pursuing technological upgrades and new product development to enhance market competitiveness and improve profitability[29]. - The company has established a stable supply chain for raw materials, although it has increasingly relied on imports due to local production limitations since 2018[26]. Environmental and Regulatory Compliance - The company has invested in environmental protection measures, including a tail gas treatment line that significantly reduces sulfur emissions below national standards[26]. - The company is not classified as a key pollutant discharge unit and adheres to environmental protection laws and regulations[50]. - The actual SO2 emissions from the rotary kiln were reported at 78.8 mg/m³, below the limit of 100 mg/m³[50]. - The company has established an effective environmental risk management system to ensure compliance with pollution discharge standards[50]. Shareholder and Corporate Governance - The controlling shareholder, Qingtou Group, has committed to avoiding any future competition with the company and will prioritize transferring any competing assets at reasonable prices if necessary[41]. - As of the report date, 122,467,041 shares held by the controlling shareholder, accounting for 42.50% of the total share capital, have been judicially frozen[43]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[60]. - The company did not report any changes in the board of directors, supervisors, or senior management during the reporting period[61]. Research and Development - R&D expenses grew due to an increase in R&D personnel and investment[31]. - Research and development expenses increased to ¥1,045,505.16, up 61.5% from ¥647,423.80 in the first half of 2018[72]. Related Party Transactions - The company engaged in a related party transaction with Qinghai Baihe Aluminum Industry Co., Ltd., purchasing goods worth ¥22,328,239.08, which accounted for 84.87% of similar transactions[45]. - The related party transaction was established to secure the supply of aluminum ingots necessary for the production of 2,000 tons/year of metal strontium and 5,000 tons/year of strontium aluminum alloy[45]. Financial Reporting and Accounting Policies - The company’s financial statements are prepared based on the going concern principle, indicating no significant issues affecting its ability to continue operations for at least 12 months[107]. - The company’s financial reporting adheres to the relevant enterprise accounting standards, ensuring a true and complete reflection of its financial status[108]. - The company has implemented new financial instrument accounting standards effective January 1, 2019, which will not affect prior years' financial results[188].

2019 年第一季度报告 公司代码：600714 公司简称：金瑞矿业 青海金瑞矿业发展股份有限公司 2019 年第一季度报告 1 / 20 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 7 | 2019 年第一季度报告 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 未出席董事情况 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 李栗 | 董事 | 因公外出 | 李军颜 | 1.3 公司负责人任小坤、主管会计工作负责人张国毅及会计机构负责人（会计主管人员）李积玉 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 非经常性损益项目和金额 √适用 □不适用 3 / 20 单位：元 币种：人民币 本报告期末 上年度末 ...

Financial Performance - The company achieved a net profit of CNY 22,738,117.94 in 2018, representing an increase of 86.14% compared to CNY 12,215,927.39 in 2017[5]. - Operating revenue for 2018 was CNY 157,160,944.69, a 72.55% increase from CNY 91,082,871.22 in 2017[20]. - The basic earnings per share for 2018 was CNY 0.08, doubling from CNY 0.04 in 2017[21]. - The weighted average return on equity increased to 3.71% in 2018, up by 1.66 percentage points from 2.05% in 2017[21]. - The net profit attributable to shareholders for Q4 2018 was ¥7,155,064.26, while the net profit excluding non-recurring gains and losses was ¥6,771,277.64[29]. - Total operating revenue for 2018 reached RMB 157,160,944.69, a significant increase of 72.5% compared to RMB 91,082,871.22 in the previous year[182]. - Net profit for 2018 was RMB 22,738,117.94, up 86.1% from RMB 12,215,927.39 in 2017[183]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 42,487,423.74, worsening from negative CNY 8,765,577.78 in the previous year[20]. - The company achieved a net cash flow from operating activities of -¥55,704,717.12 in Q4 2018, indicating cash flow challenges during that period[29]. - The total amount of cash and cash equivalents at the end of the period was 346.12 million RMB, up 42.58% from 242.75 million RMB at the end of the previous period[56]. - Cash and cash equivalents at the end of the year stood at CNY 156,122,176.19, down from CNY 242,750,620.14 at the end of the previous year, a decrease of 35.7%[189]. Assets and Liabilities - The company's total assets at the end of 2018 were CNY 677,499,700.24, a 3.88% increase from CNY 652,183,741.05 at the end of 2017[20]. - The net assets attributable to shareholders at the end of 2018 were CNY 624,735,922.10, a 3.87% increase from CNY 601,484,505.67 at the end of 2017[20]. - Total current liabilities increased to CNY 42,039,038.09 from CNY 38,897,875.37, which is an increase of about 5.5%[178]. - The total equity attributable to shareholders increased to CNY 624,735,922.10 from CNY 601,484,505.67, reflecting a growth of approximately 3.9%[178]. Operational Performance - The company produced 23,894.89 tons of strontium salt, a year-on-year increase of 12.54%, while sales volume reached 22,225.45 tons, up 3.29%[46]. - The gross profit margin for the chemical industry segment improved by 16.34 percentage points to 31.75%, with strontium salt products achieving a gross margin of 30.76%[45]. - The company reported a significant increase in sales of strontium carbonate, generating CNY 121.21 million in revenue, a year-on-year growth of 33.61%[42]. - The company’s operating costs increased by 53.62% to CNY 117.96 million, primarily due to rising raw material and manufacturing expenses[43]. Research and Development - The company invested 1.31 million RMB in research and development, accounting for 0.84% of total operating revenue[54]. - The company has 15 R&D personnel, making up 8.67% of the total workforce[54]. - The company is actively developing new products and technologies, focusing on the production processes for strontium chloride, strontium nitrate, and metallic strontium[65]. Environmental and Safety Management - The company implemented strict safety and environmental management measures, enhancing operational safety and reducing environmental risks[39]. - The subsidiary Qinglong Strontium Salt has a daily waste gas treatment capacity of 500,000 m³, with a desulfurization efficiency exceeding 98%[117]. - The wastewater treatment system at Qinglong Strontium Salt has a processing capacity of 500 m³ per day, with treated water being reused in production[117]. - The company has established an emergency response plan for environmental incidents and conducts regular drills[117]. Shareholder and Governance - The company did not implement any profit distribution or capital reserve transfer to share capital for the year[5]. - The company has committed to avoiding future competition with its controlling shareholder, ensuring that any competitive assets will be prioritized for transfer to the company[94]. - The company has appointed Beijing Yongtuo Accounting Firm as its auditor for the 2018 fiscal year, with an audit fee of RMB 400,000[98]. - The company has actively fulfilled its information disclosure obligations, ensuring accurate and timely information for investors[115]. Market and Competitive Landscape - The company faced challenges from rising costs of raw materials and stricter environmental regulations, impacting overall industry competitiveness[32]. - The pricing strategy for all main products is market-driven, with strontium carbonate prices increasing year-on-year due to market conditions and supply-demand dynamics[75]. - The strontium salt industry is experiencing price increases due to environmental policies and market conditions, although competition remains intense[84].

Financial Performance - Net profit attributable to shareholders increased by 72.96% to CNY 15,583,053.68 for the first nine months of the year[7] - Operating revenue for the first nine months reached CNY 91,890,071.46, a 55.45% increase year-on-year[7] - The company reported a 110.85% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 14,962,441.01[7] - The company’s basic earnings per share increased by 66.67% to CNY 0.05[7] - Operating profit for the third quarter was ¥9,738,058.76, compared to a loss of ¥273,928.31 in the same quarter last year, indicating a strong recovery[24] - Net profit for the first nine months of 2018 was ¥15,583,053.68, up from ¥9,009,622.85 in the previous year, reflecting a year-over-year increase of 73.5%[24] - The company achieved an operating profit margin of approximately 30.2% for the first nine months of 2018, compared to 12.5% in the same period last year[24] Assets and Liabilities - Total assets increased by 2.42% to CNY 667,989,717.91 compared to the end of the previous year[7] - The total liabilities of the company were CNY 50,601,733.96, showing a slight decrease from CNY 50,699,235.38 at the beginning of the year[18] - The company’s equity attributable to shareholders rose to CNY 617,387,983.95 from CNY 601,484,505.67, reflecting an increase of about 2.6%[18] - The total liabilities of the company as of the reporting date were ¥30,915,568.10, down from ¥32,240,150.33 in the previous period[21] - The total equity of the company was reported at ¥581,433,152.63, slightly down from ¥584,241,097.01 in the previous period[21] Cash Flow - The net cash flow from operating activities was CNY 13,217,293.38, a significant improvement from a negative cash flow of CNY -412,869.55 in the same period last year[11] - The cash flow from operating activities generated a net amount of ¥13,217,293.38, a turnaround from a negative cash flow of ¥412,869.55 in the prior year[29] - The total cash inflow from investment activities was ¥214,440,946.95, while cash outflow was ¥266,121,047.31, resulting in a net cash flow of -¥51,680,100.36 for investment activities[30] - The net cash flow from investment activities is -$1,884,152.20, a significant decrease from $292,277,829.75 in the previous year[32] - The net increase in cash and cash equivalents for the period is -$8,181,694.00, compared to an increase of $214,570,435.32 in the previous year[33] Investments and Expenses - The company utilized CNY 38,000,000 of idle funds to purchase low-risk short-term financial products, structured deposits, and large certificates of deposit[12] - Research and development expenses for the third quarter amounted to ¥306,478.96, a decrease of 27.5% from ¥422,590.71 in the same quarter last year[23] - The company achieved an investment income of ¥4,142,465.75, compared to ¥4,813,453.69 in the same period last year[26] - The management expenses for the period were ¥7,546,448.08, slightly down from ¥7,655,491.06 in the previous year[26] - The financial expenses for the period included interest expenses of ¥29,868.00, a decrease from ¥1,308,675.93 in the previous year[26] Shareholder Information - The total number of shareholders reached 19,814 by the end of the reporting period[10] - The company reported a basic earnings per share of ¥0.01, recovering from a loss of ¥0.01 per share in the same period last year[27]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥59,693,283.58, representing a 94.22% increase compared to ¥30,734,539.81 in the same period last year[19]. - The net profit attributable to shareholders was ¥7,251,702.26, a decrease of 22.72% from ¥9,383,446.22 in the previous year[19]. - The net cash flow from operating activities increased by 219.09% to ¥10,229,846.06 from ¥3,205,959.04 in the same period last year[19]. - The basic earnings per share for the first half of 2018 remained stable at ¥0.03, while the diluted earnings per share also stood at ¥0.03[20]. - The weighted average return on equity decreased to 1.20%, down by 0.38 percentage points from the previous year[20]. - The company reported non-recurring gains of ¥554,042.79, primarily from government subsidies and asset disposal[21]. - The company achieved a net profit of 7.25 million yuan, reflecting a significant increase in profitability[32]. - The total comprehensive income for the first half of 2018 was -4,706,274.15 RMB, down from 8,523,080.40 RMB in the same period last year, highlighting overall financial difficulties[83]. Production and Sales - The company produced and sold strontium carbonate and its by-products, with sales prices increasing year-on-year due to market supply and demand dynamics[25]. - The company produced 8,957 tons of strontium carbonate in the first half of 2018, an increase of 91.36% year-on-year[32]. - The revenue from strontium carbonate business reached 59.43 million yuan, a year-on-year growth of 93.45%[32]. - The production of sodium metabisulfite increased by 201.13% year-on-year, totaling 1,602 tons[32]. - The company is progressing on a new project for 2,000 tons/year of metallic strontium and 5,000 tons/year of strontium-aluminum alloy, expected to enhance product variety[32]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥656,892,096.80, a slight increase of 0.72% from ¥652,183,741.05 at the end of the previous year[19]. - Total assets amount to 19,471.37 million, with net assets at 17,790.48 million and operating income of 5,948.49 million[39]. - The company's current assets decreased to ¥482,394,868.57 from ¥505,962,632.04, representing a decline of approximately 4.5%[72]. - Total liabilities decreased to ¥47,708,413.81 from ¥50,699,235.38, a reduction of approximately 5.2%[74]. - The company's equity attributable to shareholders increased to ¥609,183,682.99 from ¥601,484,505.67, marking a growth of about 1.3%[74]. Costs and Expenses - The company continues to face challenges from rising costs in labor, transportation, and raw materials, alongside intense industry competition[25]. - The company incurred total operating expenses of 42,145,039.46 RMB, compared to 27,241,637.41 RMB in the previous year, reflecting increased operational costs[85]. - Raw material costs, particularly for coal and celestite, have been rising, significantly affecting the company's profitability[41]. Environmental and Safety Management - The company plans to enhance safety production management and environmental governance, increasing investments in safety and environmental protection[41]. - The company has established an emergency response plan for environmental incidents and has conducted regular drills without any major pollution accidents reported during the reporting period[56]. - The company ensures compliance with environmental regulations, with all monitored emissions, including waste gas and wastewater, meeting legal standards[56]. - The company has implemented a noise monitoring program, with all measurements remaining within acceptable limits[56]. Corporate Governance and Compliance - The company has a commitment to avoid future competition with its controlling shareholder and related parties, ensuring no conflicts in business operations[46]. - The company has committed to not engage in any competitive business with Qinglong Strontium Salt and will avoid related transactions to minimize conflicts of interest[48]. - The company has a commitment to avoid related party transactions that could harm the interests of minority shareholders[48]. - The company is committed to improving internal control systems and enhancing the execution of related regulations to mitigate management risks[42]. Financial Management - The company approved a financial management plan allowing its wholly-owned subsidiary to invest up to RMB 50 million in low-risk short-term financial products to improve fund utilization[58]. - As of the end of the reporting period, the company had invested RMB 380 million in financial products, while its subsidiary had invested RMB 20 million[59]. - The company’s cash management plan was approved in the first temporary shareholders' meeting of 2018, allowing for efficient use of idle funds[59]. Shareholder Information - The largest shareholder, Qinghai Investment Group Co., Ltd., holds 42.50% of the shares, with a total of 122,467,041 shares[62]. - The second-largest shareholder, Qinghai Jinxing Mining Co., Ltd., holds 14.55% of the shares, totaling 41,938,670 shares[62]. - The total share capital structure remained unchanged during the reporting period[61]. Taxation - The company has a corporate income tax rate of 25% for Qinghai Jinrui Mining Development Co., and a reduced rate of 15% for Chongqing Qinglong Fine Strontium Salt[34]. - The subsidiary Qinglong Strontium Salt is eligible for a preferential tax rate of 15% for the period from January 2018 to December 2018[190]. Accounting Policies - The company has not experienced any changes in accounting policies or significant accounting errors during the reporting period[58]. - The financial statements are prepared based on the going concern principle, indicating no significant issues affecting the company's ability to continue operations for at least 12 months[110]. - The company’s financial reports comply with the requirements of the enterprise accounting standards, reflecting the true financial status and operating results[111].

Financial Performance - Operating revenue for the period reached CNY 30,103,025.24, representing a 215.52% increase year-on-year[6] - Net profit attributable to shareholders was CNY 4,449,737.74, a decrease of 56.46% compared to the same period last year[6] - The weighted average return on net assets decreased by 0.98 percentage points to 0.74%[6] - Total operating revenue for Q1 2018 was CNY 30,103,025.24, a significant increase from CNY 9,540,860.62 in the same period last year, representing a growth of 215.5%[23] - Net profit for Q1 2018 was CNY 4,449,737.74, down from CNY 10,218,990.62 in Q1 2017, indicating a decrease of 56.4%[25] - Earnings per share for Q1 2018 were CNY 0.0154, compared to CNY 0.0355 in the previous year, a decline of 56.6%[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 655,036,547.17, a 0.44% increase compared to the previous year[6] - The company's total liabilities decreased from CNY 50,699,235.38 to CNY 48,778,903.76, representing a decline of about 3.6%[19] - Total current liabilities decreased from CNY 38,897,875.37 to CNY 37,021,698.74, a reduction of approximately 4.8%[19] - Total liabilities as of the end of Q1 2018 amounted to CNY 31,426,163.59, a decrease from CNY 32,240,150.33 at the end of the previous period[22] - Total equity at the end of Q1 2018 was CNY 581,994,756.07, slightly down from CNY 584,241,097.01 in the previous period[22] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1,557,666.44, compared to an outflow of CNY 1,966,799.82 in the previous year[6] - The cash inflow from operating activities for Q1 2018 was CNY 20,415,592.28, an increase of 39.0% compared to CNY 14,634,491.22 in the previous period[27] - The net cash flow from operating activities was negative at CNY -1,557,666.44, an improvement from CNY -1,966,799.82 in the same period last year[27] - The cash inflow from sales of goods and services was CNY 19,957,793.99, a substantial increase from CNY 6,689,182.27 in the previous year[27] - The cash outflow for purchasing goods and services was CNY 12,634,489.48, up from CNY 6,121,680.83 in the same period last year[27] - The company reported a cash outflow from financing activities of CNY -182,894,449.50, compared to an inflow of CNY 223,750,355.21 in the previous period[31] Shareholder Information - The number of shareholders at the end of the reporting period was 21,326[10] - The top shareholder, Qinghai Investment Group Co., Ltd., held 42.50% of the shares, with a total of 122,467,041 shares[10] Investments and Financial Management - The company’s cash and cash equivalents decreased by 79.51% to CNY 49,739,360.94, primarily due to investments in financial products[11] - The board approved a financial management proposal allowing a subsidiary to invest up to CNY 50 million in low-risk financial products to enhance capital utilization[12] - The company continues to focus on low-risk investment strategies and has authorized management to operate within the approved financial management framework[12] Other Financial Metrics - The company reported a significant increase in accounts receivable by 168.34% due to higher sales revenue[11] - The company's gross profit margin was impacted by a 123.78% increase in operating costs, which reached CNY 19,552,073.07[11] - The company's retained earnings improved from a deficit of CNY 14,878,529.55 to a deficit of CNY 10,428,791.81, indicating a reduction in losses[19] - The company reported a significant increase in sales expenses, which rose to CNY 1,002,526.84 from CNY 680,694.22, an increase of 47.2%[23] - The financial expenses showed a notable improvement, with a net income of CNY -132,261.63 compared to CNY -710,964.51 in the previous year, indicating a reduction in financial costs[23] - The company recorded other income of CNY 49,102.12 in Q1 2018, compared to no other income reported in the same period last year[25]