股票代码：600746 股票简称：江苏索普 公告编号：临 2023-019 江苏索普化工股份有限公司 关于召开 2022 年度及 2023 年第一季度 业绩网上说明会的公告 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： 江苏索普化工股份有限公司（以下简称"公司"）分别于 2023 年 4 月 8 日及 2023 年 4 月 21 日披露了公司 2022 年年度报告及其摘要以及 2023 年第一季度报告，具体 内容详见上海证券交易所网站 www.sse.com.cn 及公司指定信息披露媒体《上海证券 报》。为使广大投资者更加全面深入地了解公司经营情况，公司定于 2023 年 4 月 28 日召开 2022 年度及 2023 年第一季度业绩网上说明会。现将有关事项公告如下： 一、说明会类型 本次说明会以网络在线互动方式召开，届时公司将就 2022 年度及 2023 年第一 季度公司业绩等相关事项与投资者进行互动交流和沟通，在信息披露允许的范围内 对投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点、 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,324,537,176.92, representing a decrease of 36.10% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 109,746,220.40, a decline of 126.93% year-over-year[5] - Basic earnings per share were CNY -0.0940, reflecting a decrease of 126.93% compared to the same period last year[9] - The company reported a net profit of -109,746,220.40 CNY for Q1 2023, compared to a net profit of 407,578,365.54 CNY in Q1 2022, indicating a significant decline[20] - Operating revenue from sales of goods and services was 1,273,001,305.86 CNY in Q1 2023, down from 1,896,681,634.05 CNY in Q1 2022, reflecting a decrease of approximately 32.8%[21] - The company recorded a total profit of -130,359,518.60 CNY in Q1 2023, down from 482,979,210.40 CNY in Q1 2022, marking a substantial decrease[20] - The company reported a decrease in tax expenses to -20,613,298.20 CNY in Q1 2023 from 75,400,844.86 CNY in Q1 2022, reflecting a change in tax liabilities[20] - The company's investment income for Q1 2023 was 325,610.28 CNY, down from 1,257,109.62 CNY in Q1 2022, indicating a decline in investment performance[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 206,148,388.52, down 158.22% from the previous year[5] - The company experienced a net cash outflow from operating activities of -206,148,388.52 CNY in Q1 2023, compared to a net inflow of 354,075,789.49 CNY in Q1 2022[21] - Operating cash flow for Q1 2023 was -187,557,305.02 RMB, down from 336,502,411.99 RMB in Q1 2022, reflecting a negative cash flow situation[29] - Total cash inflow from operating activities was 1,184,850,085.98 RMB, compared to 1,665,419,081.87 RMB in the same period last year, showing a decrease of approximately 29%[29] - Cash and cash equivalents at the end of Q1 2023 were 372,412,101.00 RMB, down from 864,540,181.68 RMB at the end of Q1 2022, representing a decline of about 57%[29] - The company reported cash outflows from investing activities of 204,755,714.00 RMB in Q1 2023, significantly lower than 1,472,790,795.42 RMB in Q1 2022[29] - The cash flow from investing activities was -144,328,091.53 RMB, an improvement from -505,704,759.23 RMB in the previous year[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,113,832,074.88, a decrease of 1.35% from the end of the previous year[6] - Total liabilities increased to RMB 741,423,822.20 as of March 31, 2023, compared to RMB 717,928,837.69 at the end of 2022, indicating an increase of about 3.3%[16] - The company's total equity decreased to ¥5,284,987,726.54 as of March 31, 2023, from ¥5,358,664,936.56 at the end of 2022[26] - The company reported a decrease in retained earnings to RMB 1,458,050,670.41 from RMB 1,567,796,890.81, a decline of approximately 7%[16] Operational Metrics - The total operating costs for Q1 2023 were 1,492,761,488.49 CNY, compared to 1,591,678,480.51 CNY in the same period last year, showing a reduction of about 6.2%[21] - Research and development expenses decreased to 57,067,085.84 CNY in Q1 2023 from 65,009,265.55 CNY in Q1 2022, a decline of approximately 12.3%[21] - The gross profit margin for Q1 2023 was negative, with operating costs amounting to ¥1,096,271,501.69, leading to an operating loss of ¥88,555,115.15[26] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[13] - The company did not report any new product launches or technological advancements during the quarter[30] - There were no significant mergers or acquisitions reported in the first quarter of 2023[30] - The company is not applying new accounting standards for the first time in 2023[30]

Financial Performance - The company's operating revenue for 2022 was approximately RMB 7.17 billion, a decrease of 10.39% compared to RMB 8.00 billion in 2021[23]. - The net profit attributable to shareholders for 2022 was approximately RMB 505.14 million, down 78.97% from RMB 2.40 billion in 2021[23]. - The net assets attributable to shareholders at the end of 2022 were approximately RMB 5.48 billion, a decrease of 10.86% from RMB 6.15 billion at the end of 2021[24]. - The total assets at the end of 2022 were approximately RMB 6.20 billion, down 12.65% from RMB 7.10 billion at the end of 2021[24]. - The cash flow from operating activities for 2022 was approximately RMB 757.32 million, a decrease of 67.66% from RMB 2.34 billion in 2021[24]. - The company reported a net profit of RMB 490.03 million after deducting non-recurring gains and losses, a decrease of 79.57% from RMB 2.40 billion in 2021[23]. - The basic earnings per share dropped to 0.4325 RMB, down 79.51% from 2.1108 RMB in 2021[25]. - The weighted average return on equity decreased to 8.83%, down 41.35 percentage points from 50.18% in 2021[25]. - The company reported a significant decrease in accounts receivable, down to 302,069,166.96 RMB from 402,509,717.17 RMB, indicating improved cash flow management[96]. Production and Operations - The production volume of acetic acid and its derivatives increased by approximately 10.47% year-on-year[34]. - The company faced dual pressure from high raw material costs and declining product prices, particularly for acetic acid[34]. - The company achieved a continuous decrease in acetic acid unit costs in 2022, with nearly 100 million yuan invested in technical upgrades to enhance production efficiency and safety standards[35]. - The acetic acid gasification technology upgrade project is in the final stages, with preparations for trial production underway, and a 200,000 tons/year dimethyl carbonate project has been initiated[37]. - The company operates with a production capacity of 1.2 million tons of acetic acid and 300,000 tons of acetic acid ester annually, ranking among the industry leaders[41]. - The production capacity for acetic acid is 1.2 million tons per year, with 300,000 tons for acetic ester, positioning the company among the industry leaders[45]. - The company is focused on enhancing production quality and capacity through ongoing technological improvements and process optimizations[45]. Research and Development - A total of 12 patents were applied for in 2022, including 10 invention patents, with 8 patents granted, bringing the total to 78 effective patents by the end of the year[36]. - Research and development expenses increased by 5.63% to 270.77 million RMB, reflecting the company's commitment to innovation[49]. - The total R&D expenditure amounted to 270,769,713.58 yuan, representing 3.78% of the operating revenue[60]. - The number of R&D personnel is 363, representing 17.16% of the total workforce[61]. - The company has been actively involved in mergers and acquisitions to strengthen its market position[114]. Environmental and Safety Measures - The company invested 11 million yuan in safety hazard rectification, achieving zero major safety and environmental accidents during the reporting period[38]. - Environmental protection measures included an investment of approximately 30 million yuan, with all environmental discharge outlets meeting standards above 99.8%[39]. - The company has advanced environmental protection measures, achieving ultra-clean emissions and meeting wastewater discharge standards[46]. - The company has implemented multiple safety and environmental projects, enhancing its safety standards and environmental compliance[71]. - The company has established a comprehensive emergency response plan for environmental incidents, which has been filed with ecological and environmental departments[155]. - The company has maintained a commitment to environmental responsibilities, with no administrative penalties for environmental issues during the reporting period[157]. Governance and Compliance - The company has established a comprehensive internal control system, ensuring 100% contract review rate and effective risk management[40]. - The company maintained strict adherence to information disclosure obligations, ensuring timely, accurate, and complete information for all shareholders[108]. - The company executed necessary approval procedures for related party transactions, ensuring fairness and compliance without harming the interests of minority shareholders[107]. - The company has a structured approach to managing conflicts of interest, ensuring that related party transactions are conducted fairly[107]. - The company has established a governance structure and internal control system in accordance with relevant laws and regulations[146]. - The company has effectively managed its subsidiaries without any significant internal control deficiencies during the reporting period[145]. Future Outlook and Strategic Initiatives - The company plans to expand its market presence and is focusing on new product development and technological advancements[114]. - The company plans to enhance its investment in technology, safety, and environmental protection, focusing on energy-saving and emission-reduction projects to align with national policies[99]. - The company aims to optimize its industrial layout and expand into new materials to mitigate market volatility risks and enhance value across the supply chain[101]. - The company is preparing for the resumption of its acetic acid production facility and is exploring new technologies for carbon dioxide recovery and biomass energy utilization[102]. - The company anticipates changes in downstream demand due to macroeconomic conditions and environmental policies, which could affect production[104]. - The company is committed to continuous improvement in production efficiency and cost reduction through technological innovation and management enhancements[102]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of RMB 0.20 per share for the 2022 fiscal year, pending shareholder approval[5]. - The total cash dividend distributed in the reporting period accounted for 46.24% of the net profit attributable to ordinary shareholders[143]. - The company’s cash dividend policy remains unchanged, ensuring the protection of minority shareholders' rights[139].

[Report Overview](index=1&type=section&id=%E6%8A%A5%E5%91%8A%E6%A6%82%E8%A7%88) [Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) This report is Jiangsu Suopo Chemical Co., Ltd.'s 2022 third-quarter report, which is unaudited; the company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content and assume legal responsibility - This quarter's financial statements are unaudited[6](index=6&type=chunk) - The company's board of directors, supervisory board, and senior management assume legal responsibility for the truthfulness, accuracy, and completeness of the report's content[3](index=3&type=chunk)[4](index=4&type=chunk)[5](index=5&type=chunk) [Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Key Accounting Data and Financial Indicators](index=1&type=section&id=(%E4%B8%80)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In Q3 2022 (July-September), the company's operating revenue decreased by 14.62% year-on-year, and net profit attributable to shareholders plummeted by 104.82% to a loss of **31.14 million yuan**; from January to September, operating revenue grew by 2.58%, but net profit attributable to shareholders declined by 67.01% 2022年第三季度及年初至报告期末主要财务指标 | Item | Current Reporting Period (July-Sept) (yuan) | YoY Change (%) | Year-to-Date (Jan-Sept) (yuan) | YoY Change (%) | | :---------------------------------------------------------------- | :-------------------------- | :------------- | :--------------------- | :------------- | | Operating Revenue | 1,655,045,536.30 | -14.62 | 6,007,563,798.66 | 2.58 | | Net Profit Attributable to Shareholders of Listed Company | -31,141,841.08 | -104.82 | 709,608,482.21 | -67.01 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | -34,230,884.48 | -105.35 | 699,207,768.36 | -67.35 | | Net Cash Flow from Operating Activities | Not Applicable | Not Applicable | 872,914,412.23 | -42.23 | | Basic Earnings Per Share (yuan/share) | -0.0267 | -104.82 | 0.6076 | -68.13 | | Weighted Average Return on Net Assets (%) | -0.55 | Decreased 12.15 percentage points | 12.12 | Decreased 34.43 percentage points | | Total Assets (Period-end) | 6,359,181,235.50 | -10.37 | 7,095,189,850.62 | -10.37 | | Shareholders' Equity Attributable to Shareholders of Listed Company (Period-end) | 5,698,581,709.40 | -7.30 | 6,147,438,878.09 | -7.30 | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=(%E4%BA%8C)%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **3.09 million yuan**, with a cumulative **10.40 million yuan** year-to-date, primarily comprising government subsidies, non-current asset disposal gains/losses, and other non-operating income/expenses 2022年第三季度及年初至报告期末非经常性损益项目 | Item | Amount for Current Reporting Period (yuan) | Year-to-Date Amount (yuan) | | :------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | :------------------------- | :------------------------- | | Gains/Losses from Disposal of Non-Current Assets | 62,316.55 | -191,833.60 | | Government Subsidies Included in Current Profit and Loss | 1,007,710.42 | 3,792,137.93 | | Fair Value Changes and Investment Income from Financial Instruments (excluding effective hedges) | 3,145,864.70 | 10,122,314.35 | | Other Non-Operating Income and Expenses | -561,426.16 | -1,481,071.50 | | Less: Income Tax Impact | 565,422.11 | 1,840,833.33 | | Total | 3,089,043.40 | 10,400,713.85 | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=4&type=section&id=(%E4%B8%89)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) The company's net profit and earnings per share significantly declined in Q3 and year-to-date, primarily due to decreasing product prices and rising procurement costs - Net profit attributable to shareholders (July-Sept) decreased by **104.82%** year-on-year, mainly due to lower product selling prices and higher procurement costs[16](index=16&type=chunk) - Net profit attributable to shareholders (Jan-Sept) decreased by **67.01%** year-on-year, mainly due to lower product selling prices and higher procurement costs[16](index=16&type=chunk) - Net cash flow from operating activities decreased by **42.23%** year-on-year, primarily due to higher procurement costs[16](index=16&type=chunk) [Shareholder Information](index=4&type=section&id=%E4%BA%8C%E3%80%81%20%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings](index=4&type=section&id=(%E4%B8%80)%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had **53,068** common shareholders; controlling shareholder Jiangsu Suopo (Group) Co., Ltd. holds **59.25%** of the company's shares, with most being restricted shares and a portion pledged - Total number of common shareholders at the end of the reporting period was **53,068**[19](index=19&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Ratio (%) | Number of Restricted Shares Held | Share Status | Quantity | | :------------------------------------------------------------------------------------ | :----------------- | :-------------------- | :--------------------- | :------------------------------- | :----------- | :---------- | | Jiangsu Suopo (Group) Co., Ltd. | State-owned Legal Person | 691,998,052 | 59.25 | 691,925,810 | Pledged | 200,000,000 | | Jiangsu Suopo (Group) Co., Ltd. - Jiangsu Suopo (Group) Co., Ltd. 2021 Non-public Issuance of Exchangeable Corporate Bonds Pledge Account for Professional Investors | Unknown | 175,000,000 | 14.98 | 0 | Pledged | 175,000,000 | | Zhenjiang State-owned Investment Holding Group Co., Ltd. | State-owned Legal Person | 53,107,738 | 4.55 | 50,000,000 | None | | - Controlling shareholder Jiangsu Suopo (Group) Co., Ltd. pledged **175,000,000** unrestricted shares on April 11, 2022, as collateral for the issuance of exchangeable corporate bonds for share conversion and principal/interest repayment[22](index=22&type=chunk) [Other Reminders](index=6&type=section&id=%E4%B8%89%E3%80%81%20%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) [Other Important Information Regarding Operating Performance](index=6&type=section&id=%E9%9C%80%E6%8F%90%E9%86%92%E6%8A%95%E8%B5%84%E8%80%85%E5%85%B3%E6%B3%A8%E7%9A%84%E5%85%B3%E4%BA%8E%E5%85%AC%E5%8F%B8%E6%8A%A5%E5%91%8A%E6%9C%9F%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BF%A1%E6%81%AF) There is no other significant operating information during the reporting period requiring special investor attention - No other important information regarding the company's operating performance during the reporting period requires investor attention[23](index=23&type=chunk) [Quarterly Financial Statements](index=6&type=section&id=%E5%9B%9B%E3%80%81%20%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Type of Audit Opinion](index=6&type=section&id=(%E4%B8%80)%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81%E7%B1%BB%E5%9E%8B) This quarter's financial statements are unaudited - This quarter's financial statements are unaudited[23](index=23&type=chunk) [Financial Statements](index=7&type=section&id=(%E4%BA%8C)%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section details the company's consolidated and parent company balance sheets, income statements, and cash flow statements, reflecting the financial position, operating results, and cash flows as of Q3 2022 [Consolidated Balance Sheet](index=7&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, consolidated total assets were **6.36 billion yuan**, down **10.37%** from year-end 2021; total consolidated liabilities were **661 million yuan**, down **30.31%**; and equity attributable to parent company shareholders was **5.70 billion yuan**, down **7.30%** 合并资产负债表关键数据（截至2022年9月30日） | Item | Sept 30, 2022 (yuan) | Dec 31, 2021 (yuan) | Change (%) | | :--------------------------------------- | :------------------- | :------------------ | :--------- | | Total Assets | 6,359,181,235.50 | 7,095,189,850.62 | -10.37 | | Total Liabilities | 660,599,526.10 | 947,750,972.53 | -30.31 | | Equity Attributable to Parent Company Shareholders | 5,698,581,709.40 | 6,147,438,878.09 | -7.30 | | Cash and Cash Equivalents | 1,098,718,103.82 | 1,675,453,928.07 | -34.42 | | Trading Financial Assets | 120,620,625.48 | 350,497,764.28 | -65.60 | | Inventories | 480,861,527.20 | 613,423,071.51 | -21.59 | | Construction in Progress | 872,927,072.17 | 587,507,630.00 | 48.57 | [Consolidated Income Statement](index=9&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2022, consolidated operating revenue was **6.01 billion yuan**, up **2.58%** year-on-year; total operating costs surged to **5.18 billion yuan**, up **54.65%**; net profit was **710 million yuan**, down **67.01%** 合并利润表关键数据（2022年前三季度） | Item | Jan-Sept 2022 (yuan) | Jan-Sept 2021 (yuan) | Change (%) | | :---------------------------------------------- | :------------------- | :------------------- | :--------- | | Total Operating Revenue | 6,007,563,798.66 | 5,856,746,411.79 | 2.58 | | Total Operating Costs | 5,178,553,640.75 | 3,348,360,156.14 | 54.65 | | Including: Operating Costs | 4,856,610,091.88 | 3,048,545,178.54 | 59.30 | | Administrative Expenses | 133,323,512.20 | 77,068,372.14 | 73.00 | | Financial Expenses | -24,332,278.43 | -9,764,068.38 | -149.20 | | Operating Profit | 839,006,854.76 | 2,518,133,541.86 | -66.60 | | Total Profit | 837,170,665.29 | 2,518,902,223.44 | -66.76 | | Net Profit | 709,608,482.21 | 2,150,658,748.21 | -67.01 | | Net Profit Attributable to Parent Company Shareholders | 709,608,482.21 | 2,150,658,748.21 | -67.01 | | Basic Earnings Per Share (yuan/share) | 0.6076 | 1.9066 | -68.13 | [Consolidated Cash Flow Statement](index=12&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, net cash flow from operating activities was **873 million yuan**, down **42.23%** year-on-year; net cash flow from investing activities turned positive at **302 million yuan**; net cash flow from financing activities was **-1.32 billion yuan**, mainly due to a significant increase in cash paid for dividends, profits, or interest 合并现金流量表关键数据（2022年前三季度） | Item | Jan-Sept 2022 (yuan) | Jan-Sept 2021 (yuan) | Change (%) | | :---------------------------------------------- | :------------------- | :------------------- | :--------- | | Net Cash Flow from Operating Activities | 872,914,412.23 | 1,510,954,556.00 | -42.23 | | Net Cash Flow from Investing Activities | 302,061,583.41 | -1,328,599,584.28 | 122.74 | | Net Cash Flow from Financing Activities | -1,320,358,081.69 | 582,191,266.73 | -326.89 | | Net Increase in Cash and Cash Equivalents | -139,268,667.03 | 765,208,172.52 | -118.20 | | Cash Received from Sales of Goods and Services | 5,595,083,294.34 | 4,870,842,169.65 | 14.87 | | Cash Paid for Goods and Services | 4,191,831,987.52 | 2,649,661,563.06 | 58.20 | | Cash Paid for Dividends, Profits, or Interest Payments | 1,175,308,081.69 | 201,524,305.72 | 483.21 | [Parent Company Balance Sheet](index=13&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, parent company total assets were **6.01 billion yuan**, down **9.93%** from year-end 2021; total liabilities were **421 million yuan**, down **26.75%**; and total owner's equity was **5.59 billion yuan**, down **8.34%** 母公司资产负债表关键数据（截至2022年9月30日） | Item | Sept 30, 2022 (yuan) | Dec 31, 2021 (yuan) | Change (%) | | :------------------------- | :------------------- | :------------------ | :--------- | | Total Assets | 6,010,377,994.27 | 6,672,941,511.10 | -9.93 | | Total Liabilities | 421,340,717.35 | 575,165,212.02 | -26.75 | | Total Owner's Equity | 5,589,037,276.92 | 6,097,776,299.08 | -8.34 | | Cash and Cash Equivalents | 965,267,454.02 | 1,624,699,620.05 | -40.60 | | Long-term Equity Investments | 1,061,353,623.94 | 735,780,796.31 | 44.24 | | Construction in Progress | 842,616,974.67 | 574,706,569.05 | 46.61 | [Parent Company Income Statement](index=16&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2022, parent company operating revenue was **4.89 billion yuan**, down **16.60%** year-on-year; operating costs were **3.85 billion yuan**, up **26.43%**; net profit was **651 million yuan**, a significant **69.74%** year-on-year decrease 母公司利润表关键数据（2022年前三季度） | Item | Jan-Sept 2022 (yuan) | Jan-Sept 2021 (yuan) | Change (%) | | :--------------- | :------------------- | :------------------- | :--------- | | Operating Revenue | 4,886,785,712.76 | 5,856,746,411.79 | -16.60 | | Operating Costs | 3,854,371,385.56 | 3,048,545,178.54 | 26.43 | | Financial Expenses | -28,041,735.55 | -9,764,068.38 | -187.20 | | Operating Profit | 760,110,368.09 | 2,518,133,541.86 | -69.74 | | Total Profit | 758,709,557.54 | 2,518,902,223.44 | -69.80 | | Net Profit | 650,808,495.00 | 2,150,658,748.21 | -69.74 | [Parent Company Cash Flow Statement](index=17&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, parent company net cash flow from operating activities was **815 million yuan**, down **46.03%** year-on-year; net cash flow from investing activities turned positive at **129 million yuan**; net cash flow from financing activities was **-1.17 billion yuan**, mainly due to a significant increase in cash paid for dividends, profits, or interest 母公司现金流量表关键数据（2022年前三季度） | Item | Jan-Sept 2022 (yuan) | Jan-Sept 2021 (yuan) | Change (%) | | :---------------------------------------------- | :------------------- | :------------------- | :--------- | | Net Cash Flow from Operating Activities | 815,463,792.82 | 1,510,954,556.00 | -46.03 | | Net Cash Flow from Investing Activities | 128,755,402.28 | -1,328,599,584.28 | 109.69 | | Net Cash Flow from Financing Activities | -1,172,610,364.40 | 582,191,266.73 | -301.36 | | Net Increase in Cash and Cash Equivalents | -222,277,765.09 | 765,208,172.52 | -129.05 | | Cash Received from Sales of Goods and Services | 4,774,137,070.37 | 4,870,842,169.65 | -1.98 | | Cash Paid for Goods and Services | 3,548,188,359.76 | 2,649,661,563.06 | 33.91 | | Cash Paid for Dividends, Profits, or Interest Payments | 1,172,610,364.40 | 201,524,305.72 | 481.88 |

Financial Performance - Basic earnings per share decreased by 53.28% to CNY 0.63 compared to the same period last year[21]. - Net profit attributable to shareholders decreased by 50.76% to CNY 740,750,323.29, while net profit excluding non-recurring gains and losses decreased by 51.14% to CNY 733,438,652.84[22]. - Operating revenue increased by 11.08% to CNY 4,352,518,262.36 compared to the same period last year[22]. - Weighted average return on equity decreased by 23.79 percentage points to 12.09%[21]. - Net cash flow from operating activities decreased by 32.31% to CNY 669,518,682.38[22]. - Total assets decreased by 9.07% to CNY 6,451,854,260.55 compared to the end of the previous year[22]. - The company achieved operating revenue of 4,352,518,262.36 CNY, a year-on-year increase of 11.08%[36]. - The net profit attributable to shareholders was 74,075.03 million CNY, a year-on-year decrease of 50.76%[30]. - The company’s operating costs increased by 65.64% year-on-year, reaching 3,261,138,760.63 CNY[36]. - Research and development expenses rose by 19.55% to 111,162,637.15 CNY, reflecting increased investment in R&D[36]. Risk Management - The report includes a risk statement indicating that future plans and development strategies do not constitute a substantive commitment to investors, highlighting investment risks[5]. - The company faces risks related to raw material supply shortages and price fluctuations, which could significantly impact production and operations[45]. - The company has established and improved environmental protection systems and has increased investment in environmental safety, but risks remain regarding potential environmental pollution and safety incidents[45]. - The company has implemented measures to strengthen production and operational management to mitigate risks associated with the ongoing COVID-19 pandemic[48]. Environmental Compliance - The company reported that all major pollutants from its emissions are within the regulatory standards, including sulfur dioxide emissions at 7.27 mg/m3 and nitrogen oxides at 35.65 mg/m3[56]. - The total emissions of nitrogen oxides from the company were reported at 19.99 tons, which is compliant with the emission standards[57]. - The company has a wastewater discharge point that meets the Class A standard of the Urban Wastewater Treatment Plant Pollutant Discharge Standard (GB18918-2012)[58]. - The company has achieved a 100% compliance rate for its environmental monitoring data[58]. - The company has implemented pollution control facilities that meet environmental standards, ensuring stable operation and compliance with emissions for sulfur dioxide, nitrogen oxides, and particulate matter[60]. - The wastewater treatment facility operates stably, with all major pollutants meeting discharge standards during the reporting period[61]. - The company has invested in upgrading thermal power boilers and VOCs treatment systems to comply with stricter environmental regulations, achieving both economic and environmental benefits[61]. - The company has a 100% compliance rate for emissions monitoring, with all air, water, and noise emissions meeting national standards[64]. - The company has established a carbon dioxide recovery system, utilizing CO2-rich exhaust gases to produce liquid CO2, thereby reducing coal consumption[66]. - The company is advancing energy-saving and emission-reduction technology upgrades in acetic acid production, enhancing production capacity while minimizing environmental impact[66]. Corporate Governance - The company confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[6]. - The company guarantees the independence of its financial operations and management, ensuring no misuse of assets for unrelated investments[76]. - The company will avoid any direct or indirect competition with Jiangsu Sop and its subsidiaries during the shareholding period[79]. - Jiangsu Sop and its subsidiaries will minimize related party transactions and ensure fair pricing in necessary transactions[81]. - Sop Group will strictly fulfill its commitment to avoid competition with Jiangsu Sop, integrating Jiangsu Sop as the sole platform for its acetic acid and derivatives business[82]. - Sop Group commits to injecting relevant assets into Jiangsu Sop within 36 months when the annual production of 330,000 tons of vinyl acetate project is expected to generate economic benefits[82]. - Sop Group will also inject relevant assets into Jiangsu Sop within 36 months for the syngas-to-ethanol technology development project when it is expected to generate economic benefits[83]. - Sop Group will minimize related party transactions with Jiangsu Sop and ensure fair operations at market prices[85]. - Sop Group's shares obtained from this transaction will not be transferred for 36 months from the end of the issuance[86]. - Sop Group guarantees that the shares used for performance compensation will not be pledged to evade compensation obligations[88]. - Sop Group and Jiangsu Sop will ensure that the ownership of the target assets is clear and free from disputes[89]. - Sop Group and Jiangsu Sop will complete the transfer of relevant personnel within 6 months after the transaction is approved by the CSRC[89]. - Sop Group and Jiangsu Sop will comply with any new regulatory requirements regarding compensation measures issued by the CSRC[93]. Financial Reporting - The company’s financial report has been guaranteed for authenticity, accuracy, and completeness by its board of directors and management[7]. - The report period is from January 1, 2022, to June 30, 2022, with all financial data presented in RMB[10]. - The company’s main accounting data and financial indicators will be detailed in the subsequent sections of the report[20]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[54]. - The company confirmed no significant litigation or arbitration matters during the reporting period[97]. - The company has not experienced any non-standard audit opinions or bankruptcy reorganization matters in the reporting period[97]. - The company has not reported any violations regarding guarantees or significant related party transactions exceeding approved limits[96][97]. - The company has established a compensation system linked to the execution of return measures[95]. - The company has not disclosed any major lawsuits or penalties against its directors, supervisors, or senior management[97]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[95]. Investment and Development - The company is constructing a 20,000 tons/year dimethyl carbonate project to enhance product structure and competitiveness[34]. - The company plans to invest in a 200,000 tons/year dimethyl carbonate project to optimize product structure and enhance overall competitiveness and risk resistance[40]. - The company raised a net amount of RMB 984 million from a private placement in April 2021, primarily for the acetic acid gasification technology upgrade project, which is expected to achieve an annual production capacity of 152,300 tons of crude methanol and 320 million standard cubic feet of carbon monoxide[47]. - The company is currently advancing the construction of the acetic acid project, but there is uncertainty regarding whether it will be completed and operational as planned[47]. - The company is actively exploring new product development and technological advancements to drive future growth[123]. - The company’s financial strategy includes maintaining a balanced approach to risk management while pursuing growth opportunities in emerging markets[126]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 54,980[115]. - Jiangsu Sop Group reduced its shareholding by 175,000,000 shares, holding a total of 691,998,052 shares, which represents 59.25% of the total shares[117]. - The company plans to release 691,925,810 shares held by Jiangsu Sop Group for trading on April 2, 2023, following a 36-month lock-up period[121]. - The company has a strategic focus on expanding its market presence and enhancing its asset management capabilities through potential mergers and acquisitions[123]. Operational Efficiency - The company maintains a complete industrial chain for acetic acid production, enhancing cost control and product quality[27]. - The company has a production capacity of 1.2 million tons of acetic acid annually, with ongoing technological improvements to enhance operational efficiency[27]. - The company has implemented over 50 technical transformation projects to reduce costs and improve operational efficiency[30]. - The company improved its direct sales ratio and expanded exports to Europe after obtaining EU Reach certification[31]. - The company’s operational strategy includes expanding logistics and maintenance services to enhance efficiency[103]. - The overall market conditions have shown a positive trend, supporting the company's growth outlook for the upcoming quarters[103]. Asset Management - Cash and cash equivalents decreased by 52.66% compared to the end of the previous year, primarily due to cash dividends distributed during the reporting period[38]. - Accounts receivable increased by 117.98% compared to the end of the previous year, mainly due to an increase in customer payments and a significant customer adopting a "payment period + year-end settlement" method[38]. - Other current assets increased by 950.76% compared to the end of the previous year, primarily due to an increase in VAT receivables during the reporting period[38]. - Construction in progress increased by 31.30% compared to the end of the previous year, mainly due to increased investment in engineering projects during the reporting period[38]. - Short-term borrowings, long-term borrowings, and current portion of non-current liabilities decreased by 100.00% compared to the end of the previous year, primarily due to the parent company increasing capital to subsidiaries, which repaid bank loans and interest[38]. - Accounts payable increased by 34.56% compared to the end of the previous year, mainly due to an increase in payables for goods during the reporting period[39]. Accounting Policies - 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[171]. - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[173]. - The accounting period for the company runs from January 1 to December 31 each year[174]. - The company uses RMB as its functional currency for accounting purposes[176]. - The company follows specific accounting policies for revenue recognition and other transactions based on its operational characteristics[172]. - The company’s financial statements are consolidated based on control, including the results of subsidiaries from the date control is obtained[180]. - The company ensures that any significant transactions and balances between consolidated entities are eliminated in the financial statements[180]. - The company recognizes its share of assets and liabilities in joint operations according to relevant accounting standards[183]. - Financial instruments are classified based on the business model and cash flow characteristics, including those measured at amortized cost and fair value[188].

[Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) This is the unaudited Q1 2022 report, with management affirming the content's authenticity, accuracy, and completeness - The financial statements for this quarter are **unaudited**[6](index=6&type=chunk) - The Board of Directors, Supervisory Committee, and senior management guarantee the authenticity, accuracy, and completeness of the quarterly report and assume legal responsibility[4](index=4&type=chunk) [I. Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The company's Q1 2022 revenue grew, while net profit and EPS declined, alongside growth in total assets and equity [(I) Key Accounting Data and Financial Indicators](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%20(%E4%B8%80)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) Revenue grew significantly this period, though net profit and EPS declined, while total assets and equity increased | Item | Current Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 2,072,792,082.97 | 23.44 | | Net Profit Attributable to Shareholders | 407,578,365.54 | -25.30 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 405,018,166.84 | -25.67 | | Net Cash Flow from Operating Activities | 354,075,789.49 | -17.06 | | Basic Earnings Per Share (CNY/Share) | 0.3490 | -32.94 | | Weighted Average Return on Equity (%) | 6.42 | Decrease of 10.52 percentage points | | | **Current Period-End Amount (CNY)** | **Prior Year-End Amount (CNY)** | **Period-over-Period Change (%)** | | Total Assets | 7,516,205,168.41 | 7,095,189,850.62 | 5.93 | | Equity Attributable to Shareholders | 6,559,078,154.49 | 6,147,438,878.09 | 6.70 | [(II) Non-recurring Gains and Losses](index=2&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%20(%E4%BA%8C)%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Non-recurring items for the period totaled CNY 2.56 million, primarily from fair value changes and government grants | Item | Current Period Amount (CNY) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -54,705.20 | | Government Grants Recognized in Current Profit or Loss | 748,709.26 | | Fair Value Change Gain/Loss and Investment Income from Financial Assets | 3,705,920.68 | | Other Non-operating Income and Expenses | -1,406,021.51 | | Less: Income Tax Impact | 433,704.53 | | Total | 2,560,198.70 | [(III) Analysis of Major Changes in Key Financial Data and Indicators](index=3&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%20(%E4%B8%89)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) Basic earnings per share decreased by 32.94% year-over-year, primarily due to a reduction in net profit - Basic earnings per share decreased by **32.94%**, mainly due to the decline in net profit during the reporting period[11](index=11&type=chunk) [II. Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) The company had 60,754 common shareholders, with the controlling shareholder holding 74.24% and having significant share pledges [(I) Total Common Shareholders and Top Ten Shareholders' Holdings](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF%20(%E4%B8%80)%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) The company had 60,754 common shareholders, with the controlling shareholder pledging 200 million shares as collateral - At the end of the reporting period, the total number of common shareholders was **60,754**[12](index=12&type=chunk) - The controlling shareholder, Jiangsu Sopo (Group) Co, Ltd, pledged **175,000,000** unrestricted shares as collateral for the issuance of exchangeable corporate bonds[17](index=17&type=chunk) | Shareholder Name | Shareholder Type | Number of Shares Held | Shareholding Ratio (%) | Number of Restricted Shares | Share Status | Pledged or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Sopo (Group) Co, Ltd | State-owned Legal Entity | 866,998,052 | 74.24 | 691,925,810 | Pledged | 200,000,000 | | Zhenjiang State-owned Investment Holding Group Co, Ltd | State-owned Legal Entity | 56,918,238 | 4.87 | 50,000,000 | None | | | Huian Fund - Huaneng Trust · Yueying No 17 Single Fund Trust - Huian Fund Huixin No 56 Single Asset Management Plan | Domestic Non-state-owned Legal Entity | 3,270,221 | 0.28 | 0 | None | | | He Donghai | Domestic Natural Person | 2,424,091 | 0.21 | 0 | None | | | China Orient Asset Management Co, Ltd | State-owned Legal Entity | 1,760,537 | 0.15 | 1,760,537 | None | | | Ma Mengqing | Domestic Natural Person | 1,088,778 | 0.09 | 0 | None | | | Liu Zhonghua | Domestic Natural Person | 951,500 | 0.08 | 0 | None | | | Zhan Tao | Domestic Natural Person | 747,000 | 0.06 | 0 | None | | | Mo Jihong | Domestic Natural Person | 725,008 | 0.06 | 0 | None | | | Caitong Fund - Luzhou Puxin Equity Investment Fund Partnership (LP) - Caitong Fund Puxin No 3 Single Asset Management Plan | Domestic Non-state-owned Legal Entity | 693,069 | 0.06 | 0 | None | | [III. Other Significant Matters](index=5&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) There were no other significant operational matters requiring special attention from investors during this period - No other significant operational information requires investor attention for the reporting period[18](index=18&type=chunk) [IV. Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the detailed Q1 2022 consolidated and parent company financial statements [(I) Audit Opinion Type](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%20(%E4%B8%80)%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81%E7%B1%BB%E5%9E%8B) The quarterly financial statements are unaudited - The financial statements for this quarter are **unaudited**[18](index=18&type=chunk) [(II) Financial Statements](index=6&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%20(%E4%BA%8C)%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section contains the consolidated and parent company balance sheets, income statements, and cash flow statements [Consolidated Balance Sheet](index=6&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) Total consolidated assets reached CNY 7.52 billion, a 5.93% increase from year-end, driven by growth in financial assets | Item | March 31, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,341,457,437.82 | 1,675,453,928.07 | -19.93 | | Trading Financial Assets | 902,946,575.34 | 350,497,764.28 | 157.63 | | Accounts Receivable | 128,997,968.89 | 68,314,734.49 | 88.83 | | Prepayments | 415,341,748.67 | 96,480,436.42 | 330.50 | | Inventories | 396,233,529.28 | 613,423,071.51 | -35.39 | | Total Current Assets | 3,664,428,699.27 | 3,292,392,293.92 | 11.29 | | Fixed Assets | 2,423,629,201.95 | 2,409,931,115.23 | 0.57 | | Construction in Progress | 672,685,739.23 | 587,507,630.00 | 14.49 | | Intangible Assets | 590,073,428.50 | 519,091,834.31 | 13.67 | | Total Non-current Assets | 3,851,776,469.14 | 3,802,797,556.70 | 1.29 | | Total Assets | 7,516,205,168.41 | 7,095,189,850.62 | 5.93 | | Contract Liabilities | 228,056,014.57 | 153,178,968.36 | 48.88 | | Employee Benefits Payable | 12,722,240.36 | 49,377,132.00 | -74.24 | | Total Current Liabilities | 801,166,854.94 | 788,015,670.51 | 1.67 | | Total Liabilities | 957,127,013.92 | 947,750,972.53 | 0.99 | | Total Equity Attributable to Parent Company | 6,559,078,154.49 | 6,147,438,878.09 | 6.70 | [Consolidated Income Statement](index=8&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) Q1 2022 revenue grew 23.44% YoY, but higher costs led to a decline in operating profit and net profit | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,072,792,082.97 | 1,679,184,099.46 | 23.44 | | Total Operating Costs | 1,591,678,480.51 | 1,037,466,559.20 | 53.44 | | Cost of Sales | 1,474,950,564.21 | 953,158,988.90 | 54.75 | | Selling Expenses | 3,340,163.06 | 2,223,484.56 | 50.23 | | Administrative Expenses | 40,136,303.13 | 22,802,985.88 | 76.01 | | R&D Expenses | 65,009,265.55 | 44,433,452.51 | 46.31 | | Financial Expenses | -5,840,468.01 | 604,188.88 | -1067.76 | | Of which: Interest Income | 10,383,458.64 | 747,122.23 | 1289.76 | | Operating Profit | 484,439,937.11 | 641,760,365.76 | -24.49 | | Total Profit | 482,979,210.40 | 641,893,447.17 | -24.76 | | Net Profit | 407,578,365.54 | 545,609,430.10 | -25.30 | | Basic Earnings Per Share (CNY/Share) | 0.3490 | 0.5204 | -32.94 | [Consolidated Cash Flow Statement](index=11&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Net operating cash flow decreased 17.06% YoY, with a significant increase in cash outflows from investing activities | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 354,075,789.49 | 426,918,733.01 | -17.06 | | Cash Received from Sales of Goods and Services | 1,896,681,634.05 | 1,321,536,438.07 | 43.52 | | Cash Paid for Goods and Services | 1,311,924,953.66 | 772,545,906.02 | 69.82 | | Cash Paid to and for Employees | 117,365,390.01 | 65,156,108.38 | 80.13 | | Net Cash Flow from Investing Activities | -454,419,953.24 | -190,247,874.47 | -138.86 | | Cash Paid for Investments | 1,332,696,400.00 | 140,500,000.00 | 848.54 | | Net Cash Flow from Financing Activities | -8,439,432.98 | 843,287,301.22 | -100.00 | | Cash Paid for Debt Repayment | 4,550,000.00 | 148,000,000.00 | -96.93 | | Net Increase in Cash and Cash Equivalents | -109,129,244.68 | 1,080,361,082.86 | -110.10 | [Parent Company Balance Sheet](index=12&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) The parent company's total assets grew to CNY 7.06 billion, up 5.82% from year-end, with a notable rise in long-term equity investments | Item | March 31, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,229,860,187.12 | 1,624,699,620.05 | -24.30 | | Trading Financial Assets | 902,946,575.34 | 350,497,764.28 | 157.63 | | Accounts Receivable | 78,741,492.22 | 45,034,361.47 | 74.84 | | Prepayments | 401,108,108.18 | 92,529,673.99 | 333.50 | | Inventories | 339,639,994.24 | 559,570,523.24 | -39.31 | | Total Current Assets | 3,314,618,416.81 | 3,056,619,610.89 | 8.44 | | Long-term Equity Investments | 961,633,575.98 | 735,780,796.31 | 30.70 | | Fixed Assets | 1,807,260,142.80 | 1,860,789,844.47 | -2.98 | | Construction in Progress | 653,753,797.77 | 574,706,569.05 | 13.75 | | Total Non-current Assets | 3,747,044,810.31 | 3,616,321,900.21 | 3.62 | | Total Assets | 7,061,663,227.12 | 6,672,941,511.10 | 5.82 | | Contract Liabilities | 191,023,338.27 | 127,088,869.95 | 50.31 | | Employee Benefits Payable | 4,486,428.63 | 36,284,828.19 | -87.63 | | Total Current Liabilities | 542,411,395.29 | 539,080,261.43 | 0.62 | | Total Liabilities | 578,272,914.65 | 575,165,212.02 | 0.54 | | Total Equity | 6,483,390,312.47 | 6,097,776,299.08 | 6.32 | [Parent Company Income Statement](index=15&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) The parent company's revenue remained stable, but rising costs led to a 29.70% YoY decrease in operating profit | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,714,190,820.41 | 1,679,184,099.46 | 2.08 | | Cost of Sales | 1,164,111,395.15 | 953,158,988.90 | 22.14 | | Selling Expenses | 2,862,103.99 | 2,223,484.56 | 28.72 | | Administrative Expenses | 30,841,576.26 | 22,802,985.88 | 35.25 | | R&D Expenses | 65,009,265.55 | 44,433,452.51 | 46.31 | | Financial Expenses | -8,526,442.65 | 604,188.88 | -1519.00 | | Of which: Interest Income | 10,192,541.33 | 747,122.23 | 1264.34 | | Operating Profit | 451,142,555.23 | 641,760,365.76 | -29.70 | | Total Profit | 449,857,042.14 | 641,893,447.17 | -29.92 | | Net Profit | 382,371,706.55 | 545,609,430.10 | -29.92 | [Parent Company Cash Flow Statement](index=16&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) The parent company's net operating cash flow fell 21.20% YoY, with a significant increase in cash used for investments | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 336,502,411.99 | 426,918,733.01 | -21.20 | | Cash Received from Sales of Goods and Services | 1,650,984,524.32 | 1,321,536,438.07 | 24.93 | | Cash Paid for Goods and Services | 1,128,449,802.04 | 772,545,906.02 | 46.07 | | Cash Paid to and for Employees | 89,556,098.23 | 65,156,108.38 | 37.45 | | Net Cash Flow from Investing Activities | -505,704,759.23 | -190,247,874.47 | -165.81 | | Cash Paid for Investments | 1,387,696,400.00 | 140,500,000.00 | 887.68 | | Net Cash Flow from Financing Activities | -1,164,712.36 | 843,287,301.22 | -100.14 | | Net Increase in Cash and Cash Equivalents | -170,712,722.36 | 1,080,361,082.86 | -115.80 | [Appendix](index=18&type=section&id=%E9%99%84%E5%BD%95) This section details the company's first-time adoption of new accounting standards starting in 2022 - The company adopted new accounting standards in 2022, with no related financial statement adjustments in this reporting period[55](index=55&type=chunk)

股票代码：600746 股票简称：江苏索普 公告编号：临 2022-024 江苏索普化工股份有限公司 关于接待机构调研情况的公告 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、投资者调研情况 江苏索普化工股份有限公司（以下简称"公司"或"江苏索普"）于 2022 年 3 月 15 日、3 月 16 日通过电话会议形式接待了投资者调研，公司董事会秘书 范国林先生介绍了公司基本情况并回答了投资者提出的问题。 二、参与调研的机构 华安基金、淡水泉（北京）、千合资本、珠海横琴长乐汇资本、上海领久基 金、深圳前海海雅金控、深圳天马资管、上海环懿基金、深圳景泰利丰基金、信 银理财、中信银行、上海焱牛投资、汇丰晋信、财信自营、国信证券、开源证券。 三、公司的基本情况 江苏索普是国有控股企业，前身为始建于 1958 年的镇江化工厂，1996 年在 上海证券交易所上市，2019 年完成重大资产重组，注入煤化工资产，实现了基 本面的巨大反转，目前公司总股本约 11.68 亿股，其中控股股东江苏索普（集团） 有限公司持股约 8.67 亿 ...

Financial Performance - The company's operating revenue for 2021 was approximately ¥8.00 billion, representing a 110.89% increase compared to ¥3.80 billion in 2020[22]. - The net profit attributable to shareholders for 2021 was approximately ¥2.40 billion, a significant increase of 938.45% from ¥231 million in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥2.40 billion, up 894.41% from ¥241 million in 2020[22]. - The net profit attributable to shareholders increased to ¥6,147,438,878.09, a growth of 108.57% compared to the end of 2020[24]. - The total assets reached ¥7,095,189,850.62, reflecting a 99.02% increase from the end of 2020[24]. - Basic earnings per share rose to ¥2.1108, an increase of 841.48% compared to the previous year[24]. - The weighted average return on equity surged to 50.18%, up by 41.74 percentage points from 2020[24]. - Operating cash flow net amount was ¥2,341,650,768.57, showing a significant increase of 210.58% compared to the previous year[24]. - The company achieved an annual revenue of CNY 8,003,583,624.41, representing a 110.89% increase compared to the previous year[46]. - Net profit attributable to shareholders reached CNY 240,201,580, marking a significant increase of 938.45% year-on-year[46]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1 per share (before tax) to all shareholders, pending approval at the shareholders' meeting[6]. - The company does not plan to issue bonus shares or conduct capital increases from reserves for the current year[6]. - For the 2021 fiscal year, the proposed cash dividend is RMB 1 per share, with the remaining undistributed profits to be carried forward[163]. Operational Efficiency and Innovation - The company adopted the Amiba management model, focusing on technological innovation and informationization to enhance operational efficiency[35]. - The company implemented 64 technical improvement projects during the reporting period, with 45 projects completed and accepted[37]. - The company is actively expanding into the new materials industry, having acquired Sop New Materials and registered a new project in the Zhenjiang New Material Industrial Park[37]. - The company has enhanced its digital management capabilities, focusing on data-driven decision-making and optimizing resource allocation[37]. - The company is committed to energy conservation and emission reduction in response to national "dual carbon" policies, aiming for higher standards in production[35]. Environmental Compliance and Safety - The company has established a comprehensive safety and environmental monitoring system, achieving stable compliance with emissions standards throughout the year[37]. - The company is facing high regulatory pressure regarding environmental safety, with new laws and regulations increasing compliance requirements[41]. - The company has implemented advanced environmental protection measures, achieving ultra-clean emissions and meeting wastewater discharge standards[45]. - The company has established a joint innovation center with Jiangsu Provincial Institute of Industrial Technology[85]. - The company has organized over 130 emergency response drills to enhance its capability to handle environmental incidents[176]. Research and Development - Research and development expenses increased by 71.01% to CNY 256,330,927.73, reflecting the company's commitment to innovation[46]. - The total R&D expenditure for the period was 256,330,927.73 yuan, accounting for 3.2% of operating revenue, with a year-on-year increase of 71.01%[61]. - The company has received 14 patent authorizations, including 6 invention patents, and one of its patents won an excellent award from the China Petroleum and Chemical Industry Federation[37]. Market Expansion and Strategic Initiatives - The company is actively developing new materials and extending the acetic acid downstream industry chain to enhance value-added products[116]. - The company plans to continue expanding its market presence while adhering to strict safety and environmental regulations[35]. - Market expansion efforts have led to a 30% increase in market share in the Asia-Pacific region[136]. - The company is exploring potential acquisitions to further enhance its product portfolio, with a budget of 200 million allocated for this purpose[136]. Governance and Management - The company has emphasized the importance of quality management in its operational strategy by appointing a dedicated quality director[140]. - The company is actively restructuring its management team to align with its strategic goals for growth and efficiency[140]. - The company’s governance structure has been strengthened with the recent appointments, aiming to improve oversight and accountability[140]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to CNY 6.456 million[146]. Risks and Challenges - The company faces risks related to energy supply shortages and price fluctuations, which could significantly impact operations[118]. - The chemical industry is currently experiencing favorable market conditions, but there is a risk of declining industry prosperity and falling product prices in the future[118]. - The company has commitments related to share restrictions, with the controlling shareholder, Sop Group, agreeing not to transfer non-circulating shares for three years from the reform plan implementation date, with a minimum selling price of 5 RMB per share post-restriction[188]. Employee Engagement and Training - The company reported a total of 1,815 employees, with 1,360 in the parent company and 455 in major subsidiaries[158]. - The company conducted over 3,000 training sessions, including 18 specialized training events attended by more than 1,700 participants[159].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,938,453,637.03, representing a year-on-year increase of 90.10%[7] - The net profit attributable to shareholders for Q3 2021 reached ¥646,276,898.77, a significant increase of 1,344.87% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥640,280,343.30, reflecting a year-on-year increase of 1,579.30%[7] - The basic earnings per share for Q3 2021 was ¥0.5534, up 1,197.03% from the previous year[9] - The company's total revenue for Q3 2021 reached ¥5,856,746,411.79, a significant increase from ¥2,520,921,895.78 in Q3 2020, representing a growth of approximately 132.5%[27] - Operating profit for Q3 2021 was ¥2,518,133,541.86, compared to ¥68,916,516.47 in Q3 2020, indicating a substantial increase in profitability[31] - Net profit for Q3 2021 was ¥2,150,658,748.21, a significant rise from ¥53,230,905.28 in the same period last year, reflecting a growth of approximately 3950%[31] - The total comprehensive income for the period reached ¥2,162,864,358.78, an increase from ¥47,717,097.38 in the previous year[33] - Basic earnings per share (EPS) was reported at ¥1.9066, up by ¥0.0519 compared to the same period last year[33] Assets and Liabilities - The total assets as of the end of Q3 2021 amounted to ¥6,564,305,330.14, marking an increase of 84.12% compared to the end of the previous year[10] - The company's total assets amounted to ¥6,564,305,330.14, compared to ¥3,565,152,588.04 in the previous year, showing an increase of about 84%[27] - The total liabilities increased to ¥667,100,866.18 from ¥617,768,367.74, indicating a rise of approximately 8.5%[27] - Total liabilities amounted to 617,768,367.74, a decrease from 623,786,066.86[41] - Non-current liabilities totaled 41,367,409.70, down from 47,385,108.82[41] - The total equity increased to ¥5,897,204,463.96 from ¥2,947,384,220.30, reflecting a growth of approximately 100%[27] - Total equity reached 2,947,384,220.30, remaining unchanged[41] Cash Flow - The company reported a net cash flow from operating activities of ¥1,510,954,556.00 for the first nine months of 2021, an increase of 563.74% year-on-year[9] - Cash inflow from operating activities totaled ¥4,887,401,673.61, significantly higher than ¥2,320,636,123.69 in the previous year, marking an increase of approximately 110%[33] - The net cash flow from operating activities was ¥1,510,954,556.00, compared to ¥227,641,551.57 in the same period last year[33] - Cash outflow from investing activities amounted to ¥2,128,423,300.65, up from ¥542,319,615.78 in the previous year, indicating a substantial increase in investment activities[33] - The net cash flow from investing activities was negative at -¥1,328,599,584.28, compared to -¥324,301,518.93 in the previous year[33] - Cash inflow from financing activities was reported at ¥992,999,993.04, compared to ¥531,500,000.00 in the previous year, reflecting a growth of approximately 87%[35] - The net cash flow from financing activities was ¥582,191,266.73, a significant increase from ¥73,021,749.07 in the previous year[35] - The ending balance of cash and cash equivalents was ¥958,014,293.90, up from ¥118,293,181.90 in the previous year[35] Investments and Acquisitions - The company plans to acquire 100% equity of Jiangsu Dongpu New Materials Technology Co., Ltd. for an undisclosed amount, with the acquisition price based on an independent third-party valuation[18] - Following the acquisition, the company intends to increase the registered capital of Dongpu New Materials by RMB 70,000,000, raising it from RMB 30,000,000 to RMB 100,000,000[18] - The company has approved the establishment of a wholly-owned subsidiary with an investment of RMB 100,000,000 in the new materials industry park in Zhenjiang[18] - The company plans to purchase land use rights for at least 300 acres in the Zhenjiang New Materials Industry Park, with a budget not exceeding RMB 20,000,000[18] Research and Development - Research and development expenses for Q3 2021 were ¥176,173,009.98, up from ¥106,658,973.13 in Q3 2020, marking an increase of about 65%[27] Inventory and Receivables - The company's inventory as of September 30, 2021, was RMB 449,817,232.70, compared to RMB 307,551,697.19 at the end of 2020, reflecting an increase in stock levels[22] - The company reported accounts receivable of RMB 56,638,947.85, an increase from RMB 42,851,421.88 at the end of 2020[22]

Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 3,918,292,774.76, a significant increase of 161.01% compared to CNY 1,501,216,116.61 in the same period last year[23]. - Net profit attributable to shareholders of the listed company was CNY 1,504,381,849.44, up 17,594.51% from CNY 8,501,971.71 in the previous year[23]. - The net cash flow from operating activities was CNY 989,163,928.77, a substantial increase of 2,610.53% compared to CNY 36,493,402.41 in the same period last year[23]. - The company achieved a revenue of 3.918 billion RMB and a net profit of 1.504 billion RMB for the first half of 2021[35]. - The company's operating revenue reached ¥3.92 billion, a 161.01% increase compared to ¥1.50 billion in the same period last year[39]. - Operating profit for the first half of 2021 was ¥1,769,569,867.37, compared to ¥9,456,820.92 in the first half of 2020, indicating a substantial increase in profitability[171]. - The company reported a net profit of ¥1,563,725,312.63 for the first half of 2021, a significant increase from ¥257,876,753.47 in the same period of 2020, indicating a growth of approximately 508.5%[171]. - The total profit for the first half of 2021 was approximately ¥1.77 billion, a significant increase compared to ¥11.34 million in the same period of 2020[174]. - The net profit for the first half of 2021 reached approximately ¥1.50 billion, compared to ¥8.50 million in the first half of 2020, indicating a substantial growth[174]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 5,883,788,639.91, reflecting a growth of 65.04% from CNY 3,565,152,588.04 at the end of the previous year[26]. - The total liabilities as of June 30, 2021, were ¥643,999,050.06, compared to ¥617,768,367.74 at the end of 2020, showing a slight increase of about 4.2%[169]. - The total equity of the company reached ¥5,239,789,589.85 as of June 30, 2021, up from ¥2,947,384,220.30 at the end of 2020, representing a growth of approximately 77.5%[171]. - Cash and cash equivalents increased by 457.40% to ¥1.07 billion, representing 18.27% of total assets[42]. - The company's cash and cash equivalents increased to ¥1,074,710,598.91 from ¥192,806,122.38, marking a growth of approximately 458.5%[169]. Shareholder Information - The total number of shares increased from 1,048,348,300 to 1,167,842,884, representing a 11.39% increase[137]. - The proportion of limited sale shares increased from 70.94% to 73.91% after the issuance[134]. - The company has 691,925,810 shares held by Jiangsu Sop Group, which are subject to a 36-month lock-up period[139]. - The total amount of restricted shares was 743,686,347, with a total of 119,494,584 shares released from restrictions during the reporting period[147]. - The total number of ordinary shareholders at the end of the reporting period was 21,623[148]. Research and Development - Research and development expenses rose by 94.78% to ¥92.99 million, reflecting increased investment in R&D[41]. - The company has been recognized as a high-tech enterprise, reflecting its strong R&D capabilities and ongoing investment in technological innovation[34]. Environmental Compliance - The company has advanced environmental protection facilities, achieving ultra-low emissions of sulfur dioxide and nitrogen oxides[34]. - The company reported a total sulfur dioxide (SO2) emission of 30.29 tons for the first half of the year, which is below the permitted total of 125.1 tons[61]. - Nitrogen oxides (NOx) emissions totaled 110.47 tons, significantly lower than the permitted total of 198 tons[63]. - The company achieved a 100% compliance rate for its waste gas treatment facilities, including desulfurization and dust removal systems[64]. - The company conducted 20 emergency response drills for environmental incidents in the first half of the year, enhancing its emergency response capabilities[68]. Corporate Governance - The company has committed to maintaining the independence of its operations and management, ensuring no interference from related parties[85]. - The company has established an independent financial accounting department and management system, ensuring financial independence from related parties[85]. - The actual controller, shareholders, and related parties have fulfilled their commitments during the reporting period, with a focus on share restrictions and other commitments[74]. Market and Strategy - The company implemented a low-cost strategy through optimized procurement and production upgrades, contributing to cost reduction and quality enhancement[35]. - The acetic acid market experienced significant price increases due to a strong recovery in the chemical industry following the easing of the COVID-19 pandemic[35]. - The company expanded its market share by developing new markets and increasing direct sales to customers[38]. Commitments and Future Outlook - The company has committed to using self-raised funds for the subscription of this fundraising, ensuring compliance with regulations[103]. - The company has committed to complete the transfer of relevant personnel within 6 months after the approval of the transaction by the China Securities Regulatory Commission[98]. - The company has outlined plans for future compliance with new regulatory requirements regarding compensation measures[82].