甘肃祁连山水泥集团股份有限公司 2023 年 5 月 11 日，甘肃祁连山水泥集团股份有限公司（以下简 称"公司"）收到了上海证券交易所（以下简称"上交所"）《关于 甘肃祁连山水泥集团股份有限公司重大资产置换及发行股份购买资 产并募集配套资金申请的审核问询函》（以下简称"问询函"）。针 对问询函中提及的事项，上市公司会同相关中介机构进行了逐项落实 和回复，并对本次重组相关文件进行了补充披露和完善，于 2023 年 7 月 28 日披露了《甘肃祁连山水泥集团股份有限公司重大资产置换 及发行股份购买资产并募集配套资金暨关联交易报告书（草案）（修 订稿）》（以下简称"重组报告书"）《甘肃祁连山水泥集团股份有 限公司关于上海证券交易所<关于甘肃祁连山水泥集团股份有限公司 重大资产置换及发行股份购买资产并募集配套资金申请的审核问询 函>之回复》（以下简称"问询回复"）等相关文件。 甘肃祁连山水泥集团股份有限公司董事会 根据上海证券交易所的进一步审核意见及项目的最新进展，公司 与相关中介对问询回复进行了修订，并对重组报告书再次进行了修订、 补充及完善，披露了《甘肃祁连山水泥集团股份有限公司关于上海证 券交易所<关于甘肃祁 ...

Financial Performance - The company's operating revenue for Q1 2023 was RMB 811,940,854.45, a decrease of 12.57% compared to the same period last year[4] - Net profit attributable to shareholders was RMB 10,651,353.92, an increase of 279.89% year-on-year[4] - Net profit for Q1 2023 was CNY 707,928.26, a decline of 50.7% compared to CNY 1,435,876.34 in Q1 2022[19] - Total profit for Q1 2023 was CNY 7,359,752.12, down 47.96% from CNY 14,127,304.57 in Q1 2022[19] - The total comprehensive income for Q1 2023 was CNY 1,976,094.22, compared to a total comprehensive loss of CNY 7,224,781.20 in the same period last year[27] Cash Flow - The net cash flow from operating activities was RMB 299,125,140.83, down 41.13% from the previous year[4] - Cash flow from operating activities for Q1 2023 was CNY 299,125,140.83, a decrease of 41.1% compared to CNY 508,128,017.65 in Q1 2022[21] - The cash flow from operating activities showed a net outflow of CNY 16,317,386.19 in Q1 2023, contrasting with a net inflow of CNY 150,485,801.07 in Q1 2022[29] - The company reported a financial expense of CNY -1,455,112.06 in Q1 2023, compared to CNY -460,532.36 in Q1 2022[17] - Cash inflow from financing activities totaled 50,000,000.00 RMB, while cash outflow was 228,600,945.34 RMB, resulting in a net cash flow of -178,600,945.34 RMB[22] Assets and Liabilities - The total assets at the end of the reporting period were RMB 12,111,230,188.06, an increase of 3.37% compared to the end of the previous year[4] - Total assets as of March 31, 2023, amounted to RMB 12,111,230,188.06, an increase from RMB 11,716,369,559.53 in the previous year[16] - Total liabilities reached RMB 2,645,131,250.94, compared to RMB 2,254,787,531.09 in the previous year, marking an increase of around 17.3%[15] - The total liabilities amounted to 1,082,798,645.21 RMB, compared to 943,033,651.01 RMB in the previous period[25] - The company's total equity reached 7,427,102,180.73 RMB, slightly up from 7,425,126,086.51 RMB at the end of the previous year[25] Shareholder Information - The company had a total of 66,017 common shareholders at the end of the reporting period[9] - The company's equity attributable to shareholders was RMB 8,677,894,915.48, slightly up from RMB 8,663,521,924.81[16] Inventory and Receivables - The net amount of receivables increased by 42.91% due to some key customers using bank acceptance bills for payment[7] - Accounts receivable decreased to RMB 392,881,133.66 from RMB 418,685,448.40, reflecting a decline of about 6.1%[14] - Inventory increased to RMB 837,353,660.08 from RMB 765,543,344.52, representing a growth of approximately 9.4%[14] - The net amount of prepaid accounts increased by 73.71% primarily due to prepayments for raw materials[7] Operating Costs and Expenses - Total operating costs for Q1 2023 were CNY 800,815,470.47, down 11.97% from CNY 909,503,882.13 in Q1 2022[17] - The company reported a decrease in operating costs to CNY 525,323.07 from CNY 2,017,389.05 in Q1 2022, reflecting a reduction of approximately 73.96%[27] - The company's management expenses increased to CNY 11,599,037.74 in Q1 2023 from CNY 10,667,108.79 in Q1 2022, an increase of approximately 8.71%[27] Strategic Developments - The company has not disclosed any significant new strategies or product developments in the current report[11] - Research and development expenses were not specified in the report, indicating a focus on operational costs[17]

北京市嘉源律师事务所 关于甘肃祁连山水泥集团股份有限公司 重大资产置换及发行股份购买资产并 募集配套资金暨关联交易的补充法律意见书(一) 西城区复兴门内大街158 号远洋丸 中国 · 北京 二〇二三年四月 祁连山 · 重大资产重组 嘉源 ·法律意见书 目 录 | 一、 本次重组的批准和授权 | | --- | | 二、本次重组涉及的标的资产 | | 三、本次重组涉及的其他重要事项 | | 四、 本次重组的实质条件 . | | 五、关联交易 . | | 六、信息披露 . | | 七、结论性意见 | I 祁连山 · 重大资产重组 嘉源 ·法律意见书 释义 本补充法律意见书调整并新增下列词语之特定含义: | 特定期间 | 指 | 2022年9月30日至2022年12月31日期间 | | --- | --- | --- | | 置入资产审计报告、标的公 | | | | | | 众环审字(2023)0203763 号《中交公路规划设 计院有限公司审计报告》、众环审字(2023) | | | | 0204165 号《中交第一公路勘察设计研究院有 | | | | 限公司审计报告》、众环审字(2023)0204229 | | ...

证券代码：600720 证券简称：祁连山 公告编号：2023-020 甘肃祁连山水泥集团股份有限公司 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 03 日(星期一) 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：上证路演中心网络文字互动 投资者可于 2023 年 03 月 27 日(星期一) 至 03 月 31 日(星期 五)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 qlssn@163.com 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。 甘肃祁连山水泥集团股份有限公司（以下简称"公司"）已于 2023 年 3 月 22 日发布公司 2022 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 2023 年 04 月 03 ...

Financial Performance - The company's operating revenue for 2022 was CNY 7,973,824,739.42, representing a 3.93% increase compared to CNY 7,672,537,568.41 in 2021[17]. - The net profit attributable to shareholders for 2022 was CNY 758,424,407.05, a decrease of 19.96% from CNY 947,519,310.19 in 2021[17]. - The net cash flow from operating activities for 2022 was CNY 1,221,698,918.74, down 15.59% from CNY 1,447,404,485.12 in 2021[17]. - The basic earnings per share for 2022 was CNY 0.9770, a decline of 19.96% from CNY 1.2206 in 2021[18]. - The weighted average return on equity for 2022 was 8.95%, a decrease of 3.09 percentage points from 12.04% in 2021[18]. - The company's total assets at the end of 2022 were CNY 11,716,369,559.53, an increase of 1.08% from CNY 11,590,811,893.86 at the end of 2021[17]. - The net assets attributable to shareholders at the end of 2022 were CNY 8,663,521,924.81, reflecting a 5.13% increase from CNY 8,240,770,801.92 at the end of 2021[17]. - The company reported a significant increase in raw material prices, impacting the cost of goods sold and overall profitability[18]. - The company experienced a decline in net profit and return on equity due to rising operating costs despite an increase in product prices[18]. Asset Restructuring - The company plans to suspend profit distribution for 2022 due to ongoing major asset restructuring, with a future proposal to be submitted after completion[4]. - The company is actively promoting major asset restructuring to maintain stability in its equity structure and operations[4]. - The company is undergoing a significant asset restructuring process, with a board meeting held on May 11, 2022, to discuss the asset swap and share issuance plan[45]. - The restructuring plan has received approval from the State-owned Assets Supervision and Administration Commission, allowing the company to proceed with the asset restructuring and financing[58]. - The company aims to ensure the legitimate rights and interests of minority shareholders during the restructuring process[57]. - The controlling shareholder has pledged not to engage in new business competition with the company during its control period[58]. - The company is currently advancing a major asset restructuring plan, which has received preliminary approval from the State-owned Assets Supervision and Administration Commission of the State Council[129]. - The restructuring involves acquiring 100% equity of several subsidiaries, including China Communications Construction Company and China Urban Construction Group, through asset swaps and share issuance[128]. Corporate Governance - The company has confirmed no non-operating fund occupation by controlling shareholders or related parties[5]. - The company has not violated decision-making procedures for external guarantees[5]. - The company has not faced any situation where more than half of the directors cannot guarantee the authenticity of the annual report[5]. - The company is committed to ensuring the accuracy and completeness of its financial reports[3]. - The board of directors and supervisory board members have all attended the board meeting, ensuring the integrity of the annual report[3]. - The company held three shareholder meetings during the reporting period, ensuring compliance with regulations and fair treatment of minority shareholders[55]. - The board of directors consists of 9 members, including 3 independent directors, and has established various committees to enhance decision-making processes[55]. - The company has implemented a performance evaluation and incentive mechanism linking senior management compensation to operational goals[56]. - The internal control system has been continuously improved to enhance corporate governance and compliance with regulatory requirements[56]. - The company has committed to resolving industry competition issues with its controlling shareholder through various strategic measures[56]. - The company has maintained independence from its controlling shareholder in terms of operations, personnel, and finances[55]. Market and Industry Trends - The cement market demand in the Gansu region decreased by 10.7%, while Qinghai and Tibet saw declines of 11.3% and 20%, respectively[25]. - The company holds a 47% market share in Gansu, 25% in Qinghai, and 14% in Tibet, making it the largest cement producer in the Gansu-Qinghai-Tibet region[27]. - The company reported a significant decrease in expected liabilities to ¥42,111,284.40, a 69.31% decline due to reduced provisions for sales discounts and mining restoration costs[41]. - The cement industry is expected to see a general recovery in 2023, driven by government policies and infrastructure investments, with a projected increase in overall demand for cement compared to the previous year[48]. - The average cement price is expected to decline in 2023 due to weak demand and high costs, making industry profitability challenging[52]. Environmental Compliance and Sustainability - The company is committed to sustainability and responsible business practices as part of its long-term strategy[72]. - The company has achieved near-zero wastewater discharge and has implemented measures to control air pollutants such as particulate matter and sulfur dioxide[107]. - The company has a comprehensive employee training program, with the human resources department responsible for annual training plans[95]. - The company has invested approximately 74.5 million yuan in ecological and environmental protection measures, including upgrades to dust collection systems and nitrogen oxide reduction systems, achieving significant pollution reduction results[115]. - The company successfully planted over 22,000 trees and restored approximately 69,000 square meters of vegetation as part of its ecological restoration efforts[115]. - The company is committed to ongoing improvements in emission control technologies to enhance environmental performance[109]. Financial Relationships and Transactions - The company has engaged in various financial services transactions with China National Building Material Group Financial Co., Ltd. since 2019[132]. - The total amount of guarantees provided by the company to subsidiaries during the reporting period was CNY 159,264,000.00, which represents 1.68% of the company's net assets[141]. - The company reported a total of CNY 68,022,697.37 in revenue from its resource subsidiary, indicating significant operational scale[136]. - The total deposits made by the company with its financial affiliate amounted to CNY 27,338,675,071.42 during the reporting period[137]. - The company achieved a revenue of CNY 21,907,170.40 from its subsidiary, China National Materials International Engineering Co., Ltd.[136]. Future Outlook and Strategic Plans - The company aims to achieve a production capacity target of 40 million tons of cement, 50 million tons of aggregates, and 20 million cubic meters of ready-mixed concrete by optimizing its industrial scale and through mergers and acquisitions[50]. - The company plans to sell approximately 22.91 million tons of cement and achieve a revenue of 8.169 billion yuan in 2023[51]. - The company plans to implement a strategic plan for the "14th Five-Year" period, focusing on investment strategies for 2022[79]. - The company is actively pursuing opportunities for mergers and acquisitions to enhance its competitive position[72]. - The company plans to continue expanding its capital base and improving its financial metrics in the upcoming fiscal year[176].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 2,508,750,891.94, a decrease of 0.47% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2022 was CNY 339,816,822.09, down 3.58% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 330,949,536.89, a decrease of 4.78% compared to the previous year[4] - The basic earnings per share for Q3 2022 was CNY 0.4377, reflecting a decline of 3.58% year-on-year[5] - Total operating revenue for the first three quarters of 2022 reached ¥6,459,654,575.35, an increase of 10.95% compared to ¥5,821,860,964.81 in the same period of 2021[20] - Net profit for Q3 2022 was ¥911,378,569.37, a decrease of 12.39% from ¥1,040,511,993.70 in Q3 2021[22] - The company reported a total comprehensive income of ¥911,378,569.37 for Q3 2022, compared to ¥1,040,511,993.70 in Q3 2021[23] - The total equity attributable to shareholders of the parent company was ¥8,750,786,286.12, an increase from ¥8,240,770,801.92 year-over-year[22] - The total profit for the third quarter of 2022 was 2,733,626,269.14, compared to 711,017,701.69 in the same quarter of 2021, indicating a significant increase[30] - The net profit for the third quarter of 2022 reached 2,713,182,665.82, up from 705,088,079.40 in the previous year, reflecting a growth of approximately 284.5%[30] - The total comprehensive income for the third quarter of 2022 was 2,713,182,665.82, compared to 705,088,079.40 in the previous year, indicating a significant increase[31] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to CNY 13,633,587,409.21, an increase of 17.62% compared to the end of the previous year[5] - The company's total assets as of September 30, 2022, amount to 13,633,587,409.21 RMB, an increase from 11,590,811,893.86 RMB at the end of 2021[18] - The total current liabilities are 3,491,892,491.47 RMB, up from 1,772,966,248.24 RMB in the previous year[18] - Total liabilities as of Q3 2022 amounted to ¥4,075,355,929.60, compared to ¥2,544,050,684.48 in the previous year[22] - The company's total liabilities included accounts payable of ¥4,553,024.97, significantly higher than ¥1,132,504.41 in the previous year[28] - The company's total liabilities increased by 228.14% due to accrued expenses and increased advance payments[10] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 2,479,718,371.18, an increase of 64.08% compared to the same period last year[4] - Operating cash flow for the first three quarters of 2022 reached ¥2,479,718,371.18, a significant increase of 64.1% compared to ¥1,511,284,369.12 in the same period of 2021[25] - Total cash inflow from operating activities was ¥6,313,540,450.67, up 28.4% from ¥4,907,604,139.80 year-on-year[25] - Cash outflow from operating activities totaled ¥3,833,822,079.49, an increase of 12.9% compared to ¥3,396,319,770.68 in the previous year[25] - The net cash flow from operating activities was -1,116,585,573.26 CNY, compared to a positive cash flow of 463,064,359.56 CNY in the previous period[33] - Total cash outflow from operating activities amounted to 4,879,061,585.94 CNY, with cash inflow from investment activities at 4,904,338,416.06 CNY[33] - The net cash flow from investment activities was 3,012,116,203.70 CNY, contrasting with a negative cash flow of -95,181,182.00 CNY in the previous period[33] - Cash inflow from financing activities totaled 146,040,000.00 CNY, while cash outflow was 350,518,843.67 CNY, resulting in a net cash flow of -204,478,843.67 CNY[33] Shareholder Information - The total number of common shareholders at the end of the reporting period is 68,171[11] - The top shareholder, China National Building Material Group Corporation, holds 115,872,822 shares, accounting for 14.93% of the total shares[11] - Gansu Qilian Mountain Cement Group Co., Ltd. is the second-largest shareholder with 91,617,607 shares, representing 11.80%[11] - The company has no significant changes in its major shareholders' financing, securities lending, or transfer business[11] Operational Efficiency and Future Plans - The company's sales expenses decreased by 11.89% due to reduced labor costs compared to the previous year[10] - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[3] Investment Performance - The investment income for the third quarter of 2022 was 2,607,444,124.68, compared to 703,373,652.13 in the same period of 2021, marking a substantial increase[30] - Cash received from investment income was 2,645,378,000.00 CNY, indicating strong investment performance[33] Tax and Other Expenses - The company paid 67,516,607.63 CNY in various taxes during the quarter[33] - The company reported a financial expense of -388,936.96, a decrease from -2,596,797.04 in the previous year, indicating improved financial management[30]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[12]. - The net profit attributable to shareholders reached RMB 300 million, up 20% compared to the same period last year[12]. - The company's operating revenue for the first half of 2022 was approximately ¥3.95 billion, representing a year-on-year increase of 19.67% compared to ¥3.30 billion in the same period last year[18]. - The net profit attributable to shareholders for the same period was approximately ¥502.33 million, a decrease of 16.43% from ¥601.10 million in the previous year[18]. - The net cash flow from operating activities increased significantly by 96.62%, reaching approximately ¥1.86 billion compared to ¥945.60 million in the previous year[18]. - Future guidance estimates a revenue growth of 12% for the full year 2022, driven by increased infrastructure projects[12]. - The company achieved operating revenue of CNY 39.5 billion, a year-on-year increase of 19.67%[25]. - Net profit for the period was CNY 5.02 billion, a decrease of 16.43% compared to the previous year[25]. Production and Sales - User data showed an increase in cement sales volume to 2 million tons, a growth of 10% year-on-year[12]. - The cement production in the first half of 2022 was 977 million tons, a decrease of 15.0% year-on-year, marking the lowest production level for the same period in 11 years[22]. - The company has established 17 cement production bases and is actively extending its industrial chain with 10 concrete production bases and 3 aggregate production bases[22]. - The company plans to expand its production capacity by 15% in the next fiscal year to meet increasing market demand[12]. Cost Management and Efficiency - The company maintained a gross margin of 35%, consistent with the previous year, indicating stable cost management[12]. - The company adopted an "Internet + centralized" procurement model to reduce costs and improve efficiency, integrating various procurement resources[22]. - Operating costs rose by 29.3% to CNY 28.5 billion, primarily due to increased prices of raw materials[26]. Environmental Responsibility - The company has implemented effective pollution control measures, achieving compliance in emissions for sulfur dioxide, nitrogen oxides, and particulate matter across its subsidiaries[42][43]. - The company has achieved near-zero wastewater discharge, indicating strong environmental management practices[41]. - The company continues to utilize advanced technologies for pollution control, including low-nitrogen burners and SNCR systems for nitrogen oxide reduction[43]. - The company has invested approximately 51.03 million in environmental protection measures during the first half of 2022, achieving a 40.3% reduction in ammonia consumption while maintaining nitrogen oxide emissions levels[50]. Investments and Acquisitions - The company is exploring potential acquisitions in the western region to enhance its market presence and distribution network[12]. - The company plans to acquire 100% equity of several public institutions through asset swaps and share issuance, including institutions held by China Communications Construction Company[57]. - The company has a maximum expected deposit balance of 300 million RMB with China National Building Material Group Financial Co., Ltd. for financial services[62]. Shareholder and Corporate Governance - The company did not distribute profits or increase capital reserves during the reporting period, with no dividends or stock bonuses issued[38]. - The company has committed to reducing related party transactions with its former controlling shareholder, China National Materials Group, ensuring transactions are conducted on fair and reasonable terms[54]. - The total number of ordinary shareholders at the end of the reporting period was 76,446[72]. Financial Position and Assets - The company's total assets at the end of the reporting period were approximately ¥12.89 billion, an increase of 11.17% from ¥11.59 billion at the end of the previous year[18]. - Cash and cash equivalents at the end of the period reached CNY 1.93 billion, a 161.53% increase from the previous year[28]. - The company's total liabilities increased significantly, with accounts payable rising by 38.75% to CNY 1.33 billion[28]. Management and Organizational Changes - There were changes in senior management, with Li Shengyu and Lin Haiping no longer serving as vice presidents, while Li Xiangchun was appointed as vice president[37]. - The company held two shareholder meetings during the reporting period, approving various proposals including the establishment of a wholly-owned subsidiary to integrate cement operations[36]. Market Conditions and Challenges - The overall market for cement is characterized by demand contraction, rising inventory, and price declines, leading to significant challenges for production and operations[22]. - Rising costs due to increased coal and oil prices, as well as logistics costs, pose significant challenges to the company's operations[34]. Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at reducing carbon emissions in cement production[12]. - The company's research and development expenses were not specified, but the management indicated a focus on innovation and new product development[84]. Related Party Transactions - The actual amount of related party transactions in the first half of 2022 was 207 million RMB, which was approved by the shareholders' meeting[61]. - The total amount of related party transactions reached 189,273,837.36 RMB, with a net balance of 135,242,328.45 RMB at the end of the period[66]. Taxation and Compliance - The company benefits from a 15.00% corporate income tax rate due to its operations in the western region, applicable to 14 subsidiaries[154]. - The company is subject to a value-added tax rate of 13.00%, 9.00%, 6.00%, and 3.00% depending on the type of goods sold or services provided[151].

Financial Performance - The company's operating revenue for Q1 2022 was ¥928,627,943.85, representing a year-on-year increase of 19.37%[4] - The net profit attributable to shareholders was ¥2,803,804.89, showing a significant decrease of 94.01% compared to the same period last year[4] - The company's basic earnings per share decreased to ¥0.0036, down 94.01% year-on-year[4] - The weighted average return on equity was 0.03%, a decrease of 0.57 percentage points compared to the previous year[4] - Total operating revenue for Q1 2022 was approximately ¥928.63 million, an increase from ¥777.92 million in Q1 2021, representing a growth of 19.4%[17] - Net profit for Q1 2022 was approximately ¥1.44 million, a significant decrease from ¥48.90 million in Q1 2021, reflecting a decline of 97.1%[19] - Basic and diluted earnings per share for Q1 2022 were both ¥0.0036, down from ¥0.0603 in Q1 2021[20] Cash Flow and Liquidity - The net cash flow from operating activities increased by 110.56% to ¥508,128,017.65, driven by higher sales revenue[4][8] - Operating cash flow for Q1 2022 reached CNY 508.13 million, a significant increase of 110.8% compared to CNY 241.32 million in Q1 2021[21] - Total cash inflow from operating activities was CNY 1.18 billion, up from CNY 975.76 million year-over-year[21] - Cash outflow from operating activities decreased to CNY 669.38 million from CNY 734.44 million in the previous year, reflecting improved operational efficiency[21] - The net cash flow from operating activities for Q1 2022 was CNY 150,485,801.07, down from CNY 336,033,264.73 in Q1 2021, reflecting a decrease of 55.3%[26] - The net increase in cash and cash equivalents for Q1 2022 was CNY 321,772,061.07, compared to CNY 34,943,264.73 in Q1 2021, indicating improved liquidity[26] - The ending balance of cash and cash equivalents is $1,010,553,511.29, down from $1,111,329,387.45[27] Assets and Liabilities - Total assets at the end of the reporting period reached ¥12,328,098,566.49, reflecting a 6.36% increase from the previous year[5] - The total current assets as of March 31, 2022, amount to 3,021,916,458.93 RMB, an increase from 2,459,324,047.31 RMB in the previous year[14] - The total assets of the company as of March 31, 2022, are 12,328,098,566.49 RMB, compared to 11,590,811,893.86 RMB at the end of the previous year[14] - Total liabilities increased to approximately ¥3.28 billion in the latest report, compared to ¥2.54 billion previously, marking an increase of 29.0%[16] - The total liabilities amounted to CNY 1,195,801,112.46, an increase from CNY 851,610,612.24 in the previous period[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 81,257[10] - The largest shareholder, China National Building Material Group Corporation, holds 115,872,822 shares, accounting for 14.93% of the total shares[10] - The second largest shareholder, Gansu Qilian Mountain Building Materials Holding Co., Ltd., holds 91,617,607 shares, representing 11.80% of the total shares[10] Business Operations - The main business income increased by 19.37% due to rising product prices[8] - The main business cost rose by 33.73%, primarily due to increased prices of raw coal[8] - The company reported a decrease in financial expenses by 59.56%, as interest expenses increased following the completion of a production line in Tibet[8] - The company plans to focus on market expansion and new product development as part of its future strategy[19] - The company continues to monitor its financial health and adjust strategies accordingly[27] Accounting and Reporting - The company has not applied the new accounting standards starting from 2022[27] - The financial report reflects the first-time execution of new accounting standards, but it is not applicable for the current year[27] - The board of directors announced the financial results on April 26, 2022[27] - The report indicates a significant change in cash position, reflecting a decrease of approximately 9.06%[27] - The financial data is part of the company's ongoing commitment to transparency and compliance with regulatory requirements[27] - The report does not mention any new product developments or market expansions[27] - There are no indications of mergers or acquisitions in the current financial report[27]

Financial Performance - The company's operating revenue for 2021 was CNY 7,672,537,568.41, a decrease of 1.78% compared to 2020[15]. - The net profit attributable to shareholders for 2021 was CNY 947,519,310.19, down 34.07% from the previous year[15]. - The basic earnings per share for 2021 was CNY 1.2206, reflecting a decline of 34.06% year-over-year[16]. - The net cash flow from operating activities for 2021 was CNY 1,447,404,485.12, a decrease of 36.45% compared to 2020[15]. - The company's total assets increased by 5.37% year-over-year, reaching CNY 11,590,811,893.86 at the end of 2021[15]. - The weighted average return on equity for 2021 was 11.87%, down 7.89 percentage points from 2020[16]. - The company reported a total profit of CNY 1.21 billion for the year, with a net cash flow from operations of CNY 1.45 billion[22]. - The company experienced a significant increase in raw material costs, impacting net profit and earnings per share[15]. - The net profit attributable to shareholders for the fourth quarter was negative at CNY -6,025,538.03, indicating challenges in the last quarter[18]. - The company's operating revenue for the reporting period was approximately CNY 7.67 billion, a decrease of 1.78% compared to the previous year[27]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 4.50 RMB per 10 shares, totaling 349,330,626.90 RMB, based on a total share capital of 776,290,282 shares[3]. - The remaining profit of 5,044,596,130.45 RMB will be carried forward for distribution in the next fiscal year[3]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[2]. - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[2]. - There are no non-operating fund occupations by controlling shareholders or related parties[4]. - The company has not violated decision-making procedures for external guarantees[4]. - The internal control audit report for 2021 received a standard unqualified opinion, indicating effective internal controls[103]. Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[5]. - The company is facing risks from rising costs due to increased coal and electricity prices, which significantly impact production costs[56]. Market Position and Operations - The company holds a 45% market share in Gansu and 23% in Qinghai, making it the largest cement producer in the Gansu-Qinghai-Tibet region[26]. - The company operates multiple wholly-owned and controlling subsidiaries across various regions, enhancing its market presence[8]. - The company has established 17 cement production bases and operates 9 ready-mixed concrete production bases and 3 aggregate production bases[25]. - The company expanded its coal supply channels to ensure stable production amidst challenging market conditions[22]. Environmental Responsibility - The company has achieved near-zero wastewater discharge, indicating significant progress in environmental management[105]. - The company employs advanced pollution control measures, including the use of electrostatic precipitators and high-efficiency pulse bag filters for dust emissions[106]. - The company is focused on enhancing its environmental performance through continuous improvement in pollution control technologies[107]. - The company invested a total of 126.29 million in ecological environment protection in 2021, focusing on dust collection facilities, denitrification systems, and ecological restoration of mines[114]. Shareholder Engagement and Governance - The company has established a three-year shareholder return plan to ensure the interests of minority investors are maintained[62]. - The performance evaluation and incentive mechanism links senior management compensation to the achievement of operational goals, enhancing motivation[63]. - The company held four shareholder meetings in 2021, with key resolutions including the approval of the 2020 annual financial report and the 2021 financial budget[74]. - The company has committed to a three-year shareholder return plan from 2021 to 2023[74]. Financial Strategy and Investments - The company plans to reach a production capacity of 40 million tons of cement, 50 million tons of aggregates, and 20 million cubic meters of ready-mixed concrete by integrating regional sectors and through mergers and acquisitions[52]. - The company will continue to engage in bank financing and financial institution financing activities in 2022[85]. - The company has a maximum credit line of RMB 300 million from China National Building Material Group Financial Co., Ltd. for the years 2020, 2021, and 2022[127]. Leadership and Management - The company conducted a board and supervisory board reshuffle during the reporting period[78]. - The company reported significant leadership changes, with multiple executives transitioning to new roles within the organization[78]. - The company has expanded its leadership team with new appointments in various roles[80]. - The total remuneration paid to directors, supervisors, and senior management in 2021 amounted to RMB 17.6391 million[82]. Research and Development - In 2021, the company obtained 105 new patents and published 58 papers in national-level journals, contributing to technological innovation[117]. - The company's investment in new technologies and products is ongoing, although specific figures were not disclosed in the report[135].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 2,520,488,084.83, a decrease of 3.99% compared to the same period last year[4]. - Net profit attributable to shareholders was CNY 352,443,988.82, down 50.72% year-on-year[4]. - The basic earnings per share (EPS) was CNY 0.4540, reflecting a decline of 50.72% compared to the previous year[4]. - Total revenue for the first three quarters of 2021 was approximately ¥5.82 billion, a decrease from ¥6.02 billion in the same period of 2020, representing a decline of about 3.2%[18]. - Net profit for the third quarter of 2021 was approximately ¥1.04 billion, down from ¥1.55 billion in the same quarter of 2020, reflecting a decrease of about 33%[20]. - The net profit attributable to the parent company's shareholders for Q3 2021 was approximately ¥953.54 million, a decrease from ¥1,447.60 million in Q3 2020, representing a decline of about 34.2%[21]. - The total comprehensive income for Q3 2021 was approximately ¥1,040.51 million, down from ¥1,554.52 million in the same period last year, indicating a decrease of around 33.0%[21]. - The basic earnings per share for Q3 2021 was ¥1.2283, compared to ¥1.8648 in Q3 2020, reflecting a decline of approximately 34.1%[22]. Assets and Liabilities - Total assets increased by 12.30% year-on-year, reaching CNY 12,352,733,210.70[5]. - Total assets as of the end of the third quarter of 2021 amounted to approximately ¥12.35 billion, an increase from ¥10.99 billion at the end of the third quarter of 2020, representing a growth of about 12.3%[17]. - Total liabilities reached approximately ¥3.29 billion in the third quarter of 2021, compared to ¥2.41 billion in the same quarter of 2020, indicating an increase of about 36.6%[17]. - The company's intangible assets increased to approximately ¥951.57 million in the third quarter of 2021, up from ¥881.24 million in the previous year, reflecting a growth of about 7.9%[16]. Cash Flow - The cash flow from operating activities for the year-to-date period was CNY 1,511,284,369.12, down 33.03% compared to the previous year[4]. - The net cash flow from operating activities for the first three quarters of 2021 was approximately ¥1,511.28 million, down from ¥2,256.56 million in the same period of 2020, a decrease of about 33.0%[23]. - Cash inflow from operating activities totaled approximately ¥4,907.60 million in the first three quarters of 2021, compared to ¥5,678.66 million in the same period last year, a decline of around 13.5%[23]. - The cash outflow from operating activities was approximately ¥3,396.32 million in the first three quarters of 2021, slightly down from ¥3,422.10 million in the same period of 2020, a decrease of about 0.8%[23]. - The net cash flow from investing activities for Q3 2021 was approximately -¥1,023.11 million, compared to ¥69.25 million in Q3 2020, indicating a significant decline[25]. - The cash flow from financing activities resulted in a net outflow of approximately ¥585.45 million in Q3 2021, compared to a net outflow of ¥811.26 million in Q3 2020[25]. - The ending cash and cash equivalents balance for Q3 2021 was approximately ¥1,007.53 million, down from ¥1,835.03 million at the end of Q3 2020, a decrease of about 45.0%[25]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 87,696[11]. - The largest shareholder, China National Building Material Group Corporation, holds 102,772,822 shares, accounting for 13.24% of total shares[11]. - Gansu Qilian Mountain Cement Holding Co., Ltd. is the second-largest shareholder with 91,617,607 shares, representing 11.80%[11]. - The report does not indicate any significant changes in shareholder relationships or actions among the top shareholders[12]. Operational Costs and Expenses - The company's sales expenses increased by 22.18% due to higher labor costs compared to the same period last year[10]. - Total operating costs for the first three quarters of 2021 increased to approximately ¥4.64 billion, compared to ¥4.19 billion in 2020, marking an increase of about 10.7%[18]. - The company's financial expenses decreased due to a reduction in interest-bearing liabilities and an increase in interest income[10]. - The company's construction in progress decreased by 57.70% as a result of the completion of a new cement production line[8]. - The company reported a significant increase in accounts receivable by 54.20%, primarily due to outstanding payments from concrete customers[8]. - Accounts receivable rose significantly to ¥568,922,047.00 from ¥368,958,980.08, indicating a growth of approximately 54%[15]. - Inventory levels increased to ¥622,822,852.88, up from ¥486,139,725.96, reflecting a growth of about 28%[15]. - The company has ongoing construction projects with a value of ¥451,204,684.62, down from ¥1,066,667,233.74, indicating a reduction in capital expenditure[15].