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江苏索普(600746) - 2018 Q3 - 季度财报
2018-10-30 16:00
Financial Performance - Operating revenue for the first nine months was CNY 379,670,695.58, a decrease of 36.38% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 5,476,155.62, a decline of 109.76% compared to the same period last year[7] - Revenue decreased by 36.38% compared to the same period last year, primarily due to a decline in sales volume and prices of main products[16] - Year-to-date operating revenue for 2018 reached ¥379.67 million, down 36.5% from ¥596.80 million in the same period last year[25] - Net profit for Q3 2018 was ¥1.43 million, a decline of 81.5% compared to ¥7.75 million in Q3 2017[26] - Year-to-date net profit for 2018 was a loss of ¥1.27 million, compared to a profit of ¥68.22 million in the same period last year[26] - The company reported a total profit of ¥1.91 million for Q3 2018, down 81.5% from ¥10.33 million in Q3 2017[25] Cash Flow and Assets - Net cash flow from operating activities was negative CNY 30,751,034.19, a decrease of 139.09% year-on-year[6] - Cash flow from operating activities for the first nine months of 2018 was negative at ¥30.75 million, contrasting with a positive cash flow of ¥78.66 million in the same period last year[30] - Cash and cash equivalents decreased by 88.31% compared to the beginning of the year, primarily due to the purchase of bank wealth management products[14] - Cash and cash equivalents at the end of Q3 2018 stood at ¥30.12 million, significantly lower than ¥113.32 million at the end of Q3 2017[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,820[12] - The largest shareholder, Jiangsu Sop Group Co., Ltd., holds 54.81% of the shares, with 20,000,000 shares pledged[12] Asset and Liability Changes - Total assets decreased by 16.69% to CNY 541,061,342.85 compared to the end of the previous year[6] - Net assets attributable to shareholders decreased by 7.46% to CNY 465,800,002.32 compared to the end of the previous year[6] - Accounts receivable increased by 313.42% compared to the beginning of the year, mainly from payments received for the disposal of projects and equipment[14] - Non-current assets due within one year decreased by 44.41% compared to the beginning of the year, primarily due to payments received from the disposal of equipment[14] - Accounts payable decreased by 53.55% compared to the beginning of the year, mainly due to increased payments to raw material suppliers[14] - Prepayments increased by 35.18% compared to the beginning of the year, primarily due to increased prepayments for raw materials[15] - Other receivables increased by 196.68% compared to the beginning of the year, mainly due to uncollected rental payments[15] Expenses and Financial Challenges - Basic earnings per share were CNY -0.0041, a decrease of 101.84% compared to the previous year[7] - The company reported a significant decline in both revenue and profit, indicating challenges in the current market environment[6][7] - Net profit is expected to decline significantly compared to the same period last year due to decreased product prices and increased raw material costs[19] - Research and development expenses for the first nine months of 2018 were recorded at ¥1,388.35, indicating ongoing investment in innovation despite financial challenges[25] - The gross profit margin for Q3 2018 was approximately 10.5%, down from 11.4% in Q3 2017, reflecting increased costs[25] - The company experienced a significant increase in financial expenses, with interest expenses recorded at ¥43,954.21 in Q3 2018 compared to ¥476,351.51 in Q3 2017[25] Future Plans - The company is planning a major asset restructuring to acquire operational assets and liabilities related to acetic acid and its derivatives[17] - Undistributed profits decreased by 42.98% compared to the beginning of the year, mainly due to cash dividends paid to shareholders and losses during the reporting period[16]
江苏索普(600746) - 2018 Q2 - 季度财报
2018-09-26 16:00
Financial Performance - The company's operating revenue for the first half of 2018 was ¥270,409,801.74, a decrease of 33.33% compared to ¥405,597,156.64 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was -¥2,700,070.35, representing a decline of 104.46% from ¥60,472,190.71 in the previous year[17]. - The net cash flow from operating activities was ¥27,995,771.77, down 39.32% from ¥46,135,902.31 in the same period last year[17]. - The total assets at the end of the reporting period were ¥599,892,944.76, a decrease of 7.63% from ¥649,419,877.02 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 7.60% to ¥465,114,783.10 from ¥503,370,520.47 at the end of the previous year[17]. - The basic earnings per share for the first half of 2018 was -¥0.0088, a decline of 104.46% compared to ¥0.1973 in the same period last year[18]. - The weighted average return on net assets was -0.5445%, a decrease of 13.4311 percentage points from 12.8866% in the previous year[18]. - Operating revenue decreased by 33.33% to ¥270,409,801.74 from ¥405,597,156.64 due to a decline in sales volume and prices of main products[35]. - Management expenses decreased by 55.14% to ¥9,496,008.72 from ¥21,170,255.74, primarily due to depreciation related to the shutdown of the chlor-alkali facility in the previous year[35]. - Financial expenses increased by 229.73% to ¥763,109.38 from ¥231,437.23, mainly due to increased exchange losses[35]. - Investment cash flow turned negative at -¥187,576,010.29, a significant increase of 780.66% compared to -¥21,299,476.23, mainly due to increased purchases of bank wealth management products[35]. - The company’s cash and cash equivalents decreased by 89.80% to ¥26,275,002.50 from ¥257,628,114.97, primarily due to investments in bank wealth management products[37]. - Accounts receivable increased by 146.16% to ¥35,903,353.96 from ¥14,585,574.75, mainly due to payments received for a project from the previous year[39]. - The company anticipates continued losses in the upcoming reporting period due to rising raw material prices and declining sales volume and prices[40]. - Unappropriated profits decreased by 44.60% to ¥49,033,232.38 from ¥88,504,001.53, mainly due to cash dividends paid to shareholders and losses during the reporting period[39]. Production and Operations - The company primarily engages in the production and sales of ADC blowing agents, bleaching powder products, and XPE foam new materials, with over 40 specialized formulations developed[23]. - The production of ADC blowing agents has seen a significant decline in output due to environmental inspections, with production load adjustments leading to a notable decrease compared to the same period last year[30]. - The company has successfully developed an environmentally friendly composite new product for PVC wallpaper, which has received market recognition and is expected to achieve mass production[28]. - The XPE foam material has been successfully trial-produced and is currently undergoing market promotion and user development, indicating strong market potential[25]. - The company completed 55% of its annual production plan for high-value-added composite products in the first half of the year, despite overall production declines[30]. - The company has implemented a "low-cost" procurement strategy using the 1688 online bidding platform to reduce costs and ensure transparent procurement[31]. - The company has achieved a 100% control rate for accident hazards and a 100% timely rectification rate for safety hazards, with zero fatalities reported in the first half of the year[33]. - The company is adjusting its 40,000 Nm³/h air separation project to switch from steam to electric drive in response to environmental regulations, with the project undergoing re-filing in July[33]. - The company has obtained 5 authorized patents and has 6 additional patents under application, focusing on technological innovation in ADC blowing agent production[27]. - The company has established stable cooperative relationships with key quality customers, enhancing its marketing strategy amidst a challenging market environment[31]. Environmental Management - The company plans to enhance its environmental management and invest in cleaner production technologies as part of its strategic focus on green chemistry[42]. - The company has invested 2 million in environmental protection measures, including the upgrade of rainwater and wastewater separation systems[63]. - The wastewater treatment facility has a capacity of 3600 tons per day, ensuring compliance with local pollution discharge standards[64]. - The actual discharge of COD was 11.83 tons, significantly below the permitted limit of 360 tons, demonstrating effective pollution control[62]. - The company has implemented comprehensive measures to reduce emissions, including the installation of online monitoring systems for wastewater and air pollutants[70]. - The company has conducted emergency response drills for environmental incidents, receiving recognition from local authorities for its preparedness[69]. - The company has achieved a 100% compliance rate with environmental discharge standards, reflecting its commitment to sustainable operations[61]. - The company reported a significant reduction in pollutant emissions compared to the same period last year due to low production load in the first half of 2018[71]. - The bleaching powder production facility was fully shut down in April 2018, leading to the cancellation of the "bleaching powder tail gas discharge outlet"[72]. Shareholder and Corporate Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[5]. - The largest shareholder, Jiangsu Suope Group Co., Ltd., holds 167,954,942 shares, accounting for 54.81% of the total shares[84]. - The second-largest shareholder, Shanghai Juzhang Investment Management Co., Ltd., increased its holdings by 2,266,700 shares, totaling 4,860,372 shares or 1.59%[84]. - The company appointed a new general manager, Mark He, and a new secretary of the board, Fan Guolin, following the resignation of the previous general manager and secretary[76]. - The company has not disclosed any significant accounting errors that require retrospective restatement during the reporting period[75]. - The company has not experienced any changes in the controlling shareholder or actual controller during the reporting period[88]. - The company has not reported any new strategic investors or general corporations becoming among the top 10 shareholders[87]. Related Party Transactions - The total amount of related party transactions reached CNY 10,985,311.55, accounting for 95.31% of the market price for raw materials such as water and steam[52]. - The company reported related party transactions of CNY 4,689,656.28 for purchasing auxiliary materials, representing 29.66% of the market price[52]. - The company recognized CNY 44,070,341.76 in related party transactions for purchasing raw materials, which accounted for 53.56% of the market price[52]. - The company made a payment of CNY 17,307,780 for the transfer agreement of the hydrazine production line during the reporting period[54]. - The company reported a related party transaction amount of CNY 649,896.09 for the sale of by-products, which is 4.5% of the market price[53]. - The company recorded a related party transaction of CNY 38,461.54 for the sale of chemical products, representing 0.02% of the market price[53]. - The company had a beginning balance of CNY 1,677,075.88 and incurred a transaction amount of CNY 7,924,737.23 with related parties, resulting in an ending balance of CNY 1,566,050.42[57]. - The company reported a related party transaction amount of CNY 6,800,000.00 during the period, with a balance of CNY 6,754,027.62 at the end[57]. - The company engaged in related party transactions for service fees totaling CNY 1,019,302.70, which accounted for 9.32% of the market price[52]. - The company recorded a related party transaction of CNY 235,754.70 for cleaning services, representing 100% of the market price[52]. Accounting Policies and Financial Reporting - There were no changes in accounting policies, estimates, or methods compared to the previous accounting period[75]. - The total number of shares and capital structure remained unchanged during the reporting period[80]. - 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[108]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[109]. - The accounting period for the company runs from January 1 to December 31 each year[110]. - The company uses RMB as its functional currency for accounting purposes[112]. - The company has a 12-month operating cycle for classifying assets and liabilities[111]. - The company has established policies for recognizing and measuring financial asset impairments, including criteria for significant declines in value[118]. - The company recognizes the difference between the book value of transferred financial assets and the consideration received as profit or loss for the current period[119]. - The company uses a combination of aging analysis and percentage of balance methods to assess bad debt provisions for receivables, with specific percentages ranging from 5.1% for receivables within one year to 50% for those over three years[124]. - The company applies straight-line depreciation for fixed assets, with varying useful lives and depreciation rates depending on the asset category[137]. - The company reviews the useful life and amortization method of intangible assets at the end of each fiscal year[142]. - The company recognizes investment losses and adjusts the carrying value of long-term equity investments based on the share of net losses and other comprehensive income from the investee[134]. - The company capitalizes borrowing costs directly attributable to the acquisition or production of qualifying assets, ceasing capitalization once the asset is ready for use[140]. - The company conducts impairment tests on long-term assets, including equity investments and fixed assets, at least annually or when there are indications of impairment[146]. - The company recognizes government grants as income when the conditions for receiving the grants are met and the grants are received or receivable[161]. Cash Flow and Liquidity - The company's cash and bank deposits decreased from CNY 223,977,972.41 at the beginning of the period to CNY 25,875,002.50 at the end of the period, representing a decline of approximately 88.4%[169]. - The total accounts receivable at the end of the period was CNY 11,635,209.34, with a bad debt provision of CNY 1,938,977.98, indicating a provision ratio of 16.66%[176]. - The total prepayments at the end of the period amounted to CNY 8,847,306.43, an increase from CNY 6,328,698.33 at the beginning of the period, reflecting a growth of approximately 40%[181]. - The company reported a significant increase in bank acceptance notes from CNY 14,585,574.75 at the beginning of the period to CNY 35,903,353.96 at the end, marking an increase of approximately 146.5%[172]. - The company has no deferred tax assets or liabilities that are applicable, indicating a straightforward tax situation[168]. - The company has not made any significant changes to its accounting policies or estimates during the reporting period, ensuring consistency in financial reporting[168]. - The company reported no significant tax incentives applicable during the period, maintaining a standard tax rate of 25% for corporate income tax[168].
江苏索普(600746) - 2018 Q1 - 季度财报
2018-04-26 16:00
2018 年第一季度报告 公司代码:600746 公司简称:江苏索普 江苏索普化工股份有限公司 2018 年第一季度报告 1 / 12 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位:元 币种:人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度 末增减(%) | | | --- | --- | --- | --- | --- | | 总资产 | 683,424,400.27 | 649,419,877.02 | | 5.24 | | 归属于上市公司股东的净资产 | 500,831,443.62 | 503,370,520.47 | | -0.5 | | | 年初至报告期 | 上年初至上年报告 | 比上年同期增减(%) | | | | 末 | 期末 | | | | 经营活动产生的现金流量净额 | 13,306,116.31 | 89,359,196.11 | | -85.11 | | | 年初至报告期 ...
江苏索普(600746) - 2017 Q4 - 年度财报
2018-04-10 16:00
Financial Performance - The company's operating revenue for 2017 was CNY 777,314,393.53, representing a 24.68% increase compared to CNY 623,471,557.69 in 2016[19] - The net profit attributable to shareholders for 2017 was CNY 75,031,732.28, a significant increase of 244.46% from CNY 21,782,663.50 in 2016[19] - The basic earnings per share for 2017 was CNY 0.2449, up 244.46% from CNY 0.0711 in 2016[20] - The total assets at the end of 2017 were CNY 649,419,877.02, reflecting a 1.95% increase from CNY 636,989,792.20 at the end of 2016[19] - The cash flow from operating activities for 2017 was negative CNY 15,576,688.71, a decrease of 108.69% compared to CNY 179,322,229.56 in 2016[19] - The weighted average return on equity for 2017 was 15.96%, an increase of 10.87 percentage points from 5.09% in 2016[20] - The company reported a net asset attributable to shareholders of CNY 503,370,520.47 at the end of 2017, which is a 14.66% increase from CNY 438,995,331.89 at the end of 2016[19] - The company achieved an annual revenue of 777.31 million RMB, representing a 24.68% increase compared to the previous year[40] - The net profit attributable to shareholders reached 75.03 million RMB, a significant increase of 244.46% year-on-year[40] Investment and Cash Flow - The company reported a net cash flow from investment activities of 205.39 million RMB, a significant increase compared to the previous year[42] - The company’s cash and cash equivalents increased by 446.40% to 257,628,114.97 yuan, while other current assets decreased by 99.22%[57] - The company reported a cash outflow of ¥369.75 million for investments, compared to ¥166.25 million in the previous year, indicating a strategic increase in investment activities[175] - The total cash and cash equivalents at the end of the period reached ¥223.98 million, up from ¥46.75 million at the beginning of the year, indicating a net increase of ¥177.23 million[175] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares, totaling approximately CNY 36.77 million[5] - The proposed cash dividend for 2017 is ¥0.35 per share, totaling approximately ¥10.72 million, which represents 49.01% of the annual net profit[87][88] - The company declared a cash dividend of 1.2 yuan per 10 shares for the year 2017, with a total cash dividend amounting to 36,770,574.24 yuan, representing 49.01% of the net profit attributable to shareholders[89] Research and Development - Research and development expenses totaled 3,230,480.16 yuan, representing 0.42% of total revenue, with 8 R&D personnel making up 1.59% of the total workforce[52] - The company has developed over 40 specialized composite products and seven series of products with average particle sizes ranging from 3 to 25μm, enhancing its product portfolio and market competitiveness[33] - The company has obtained five authorized patents and has six additional patents under application, demonstrating its commitment to innovation and technology development[33] Environmental Commitment - The company reported a 40% reduction in wastewater discharge in 2017 compared to 2016, demonstrating its commitment to environmental protection[106] - The company has established multiple environmental protection management systems, including wastewater and waste gas management[107] - The company invested CNY 2.6 million to improve the existing ADC plant's sewage diversion network[109] - The company has a wastewater treatment capacity of 3600t/d, meeting Jiangsu Province's Class I standards for chemical industry wastewater discharge[109] Related Party Transactions - The company reported a total related party transaction amount of 232,709,868.08 RMB for the year[98] - The related party transaction with the parent company for purchasing water and steam amounted to 27,768,590.01 RMB, accounting for 95.05% of similar transaction amounts[96] - The company engaged in a related party transaction for purchasing raw materials (sulfuric acid) totaling 11,655,730.59 RMB, with a 100% market price compliance[97] Management and Governance - The company reported a significant leadership change with Hu Zonggui appointed as Chairman and General Manager in December 2017[133] - The total compensation for all directors, supervisors, and senior management was determined by the shareholders' meeting and the board of directors, with performance-based salary components linked to monthly and annual performance evaluations[136] - The company has a clear governance structure with designated roles for independent directors, enhancing oversight and strategic guidance[135] Market Position and Industry Trends - The company operates in the chlor-alkali and fine chemical industries, with the chlor-alkali sector facing overcapacity and opportunities for industrial upgrading due to national policies and the Belt and Road Initiative[59] - The fine chemical industry is experiencing strong market demand driven by economic globalization, with significant investments from multinational companies in various segments such as catalysts and specialty chemicals[60] - The company ranks among the top three domestic producers of ADC blowing agents, with a total production capacity of approximately 400,000 tons per year, accounting for over 50% of the total domestic capacity[63]
江苏索普(600746) - 2017 Q3 - 季度财报
2017-10-27 16:00
Financial Performance - Net profit attributable to shareholders rose by 195.89% to CNY 68,217,741.91 for the first nine months[6] - Operating revenue for the first nine months reached CNY 596,800,166.59, an increase of 32.59% year-on-year[6] - Basic earnings per share increased by 195.89% to CNY 0.2226[6] - The company reported a net profit of CNY 12,154,757.81 from non-current asset disposals for the year-to-date[8] - Net profit increased significantly compared to the same period last year, driven by overall profitability during the period[14] - The company's operating revenue for the first nine months of 2017 reached ¥596,800,166.59, a 32.6% increase compared to ¥450,097,454.23 in the same period last year[22] - The net profit for the first nine months of 2017 was ¥68,217,741.91, significantly up from ¥23,054,989.85 in the previous year, representing a growth of 196.5%[23] - The operating profit for the first nine months was ¥78,725,023.17, compared to ¥30,841,223.16 in the same period last year, reflecting a growth of 155.5%[23] - The company reported a total comprehensive income of ¥68,283,891.91 for the first nine months, compared to ¥23,058,139.85 in the previous year, indicating a growth of 196.5%[23] Asset and Liability Changes - Total assets increased by 13.43% to CNY 722,553,721.91 compared to the end of the previous year[6] - Cash and cash equivalents increased by 151.78% compared to the beginning of the year, attributed to profits and increased cash receipts[13] - Accounts receivable rose by 125.64% year-to-date, mainly due to the sale of ion membrane equipment to Sop Group, resulting in a bank acceptance bill of 26 million RMB[13] - Long-term prepaid expenses decreased by 68.04% year-to-date, mainly due to the disposal of unamortized ion membrane costs[13] - Other payables surged by 233.44% year-to-date, primarily due to the accrual of certain major repair costs[13] - Total assets as of September 30, 2017, amounted to 722.55 million RMB, up from 636.99 million RMB at the beginning of the year[20] - Total liabilities increased to 225.99 million RMB from 197.99 million RMB at the beginning of the year[20] - The company's total equity at the end of the third quarter was ¥496,554,430.10, up from ¥438,995,331.89 at the beginning of the year, marking an increase of 13.1%[21] Shareholder Information - The total number of shareholders reached 21,472 by the end of the reporting period[10] - The largest shareholder, Jiangsu Sop Group Co., Ltd., holds 54.81% of the shares, with 41,027,139 shares pledged[10] Cash Flow - Net cash flow from operating activities increased by 58.25% to CNY 78,664,024.51 for the first nine months[6] - The cash flow from operating activities generated a net cash inflow of ¥78,664,024.51, compared to ¥49,709,385.20 in the same period last year, reflecting a 58.2% increase[26] - The cash and cash equivalents at the end of the reporting period amounted to ¥113,316,685.63, an increase from ¥83,612,834.21 at the beginning of the year, representing a growth of 35.5%[27] Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company expects a significant increase in cumulative net profit compared to the same period last year, benefiting from higher average prices of ADC foaming agents[15] Financial Performance Shift - The company incurred a financial expense of ¥476,351.51 in the third quarter, compared to a financial income of ¥-366,353.23 in the same period last year, indicating a shift in financial performance[22]
江苏索普(600746) - 2017 Q2 - 季度财报
2017-08-30 16:00
Financial Performance - The company's operating revenue for the first half of 2017 reached ¥405,597,156.64, representing a 33.26% increase compared to ¥304,376,195.64 in the same period last year[17]. - The net profit attributable to shareholders was ¥60,472,190.71, a significant increase of 344.50% from ¥13,604,625.95 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥49,313,829.59, up 261.86% from ¥13,627,746.60 year-on-year[17]. - Basic earnings per share rose to ¥0.1973, a 344.50% increase from ¥0.0444 in the same period last year[18]. - Total profit increased by 342.87% to ¥80,629,587.62, indicating substantial growth compared to the previous period[37]. - The company's operating revenue for the reporting period was approximately RMB 405.60 million, representing a 33.26% increase compared to RMB 304.38 million in the same period last year[34]. Assets and Liabilities - The company's net assets attributable to shareholders increased by 13.90% to ¥499,995,701.52 from ¥438,995,331.89 at the end of the previous year[17]. - Total assets grew by 15.04% to ¥732,816,846.03 compared to ¥636,989,792.20 at the end of the previous year[17]. - The company's total liabilities increased to CNY 232,821,144.51, compared to CNY 197,994,460.31 at the beginning of the year, marking an increase of 17.6%[74]. - Cash and cash equivalents increased by 62.25% to ¥76,501,074.39, primarily due to rising product prices leading to increased net cash flow[37]. - Accounts receivable rose by 88.40% to ¥28,957,159.81, mainly due to bills received but not yet paid[37]. - Inventory increased by 39.69% to ¥34,319,581.45, attributed to stockpiling of goods and increased raw material purchases[37]. Cash Flow - The net cash flow from operating activities was ¥46,135,902.31, a decrease of 17.58% from ¥55,975,204.67 in the same period last year[17]. - The net cash flow from operating activities decreased by 17.58%, totaling RMB 46.14 million compared to RMB 55.98 million in the previous year[35]. - Cash paid for taxes rose significantly to ¥49,023,173.97, compared to ¥17,402,898.50 in the previous period, reflecting a 181.5% increase[78]. - The ending balance of cash and cash equivalents was $71,101,074.39, a decrease from $89,856,281.75 in the previous period[79]. Research and Development - Research and development expenses rose by 26.60%, reaching RMB 1.38 million, up from RMB 1.09 million in the same period last year[35]. - The company has developed over 40 specialized composite products and seven series of products with average particle sizes ranging from 3 to 25μm[28]. - The company plans to invest approximately RMB 7 million in the XPE technology development project to extend the downstream industrial chain of ADC products[32]. Environmental Compliance - The company has implemented environmental protection measures, including a wastewater treatment facility with a capacity of 3600t/d, ensuring compliance with local discharge standards[60]. - The company has updated its ADC environmental protection equipment and improved its wastewater discharge system to meet regulatory requirements[59]. - The company reported that all wastewater and gas emissions met the standards set by environmental authorities during the reporting period[59]. - The company achieved actual COD emissions of 36.67 mg/l in the first half of 2017, significantly below the permitted level of 80 mg/l, with a total discharge of 25.9 tons[61]. Market and Competition - The main reason for the significant growth in revenue and net profit was the substantial increase in the selling price of the main product, ADC foaming agent[18]. - The company faces intensified market competition due to blind expansion by peers and must enhance technological innovation and high-end product development to resist industry risks[43]. - The current product structure, limited to ADC and bleaching powder production, may weaken the company's ability to withstand market risks due to the cyclical nature of the chemical industry[43]. Related Party Transactions - The company reported a total related party transaction amount of 109,704,164.22 RMB for the first half of 2017[52]. - The company engaged in related party transactions with a market price for labor services amounting to 141,509.43 RMB, representing 100% of the market price[51]. - The company accepted labor services for landscaping with a transaction amount of 327,018.87 RMB, also at 100% of the market price[51]. Shareholder Information - The company has a total of 16,639 common stock shareholders as of the end of the reporting period[66]. - The largest shareholder, Jiangsu Sop (Group) Co., Ltd., holds 167,954,942 shares, representing 54.81% of total shares, with 1,027,139 shares frozen due to legal issues[66]. Accounting Policies - The company did not experience any changes in accounting policies or significant accounting errors during the reporting period[62]. - The financial statements are prepared based on the going concern principle, indicating the company's ability to continue operations for at least 12 months[90]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect true and complete financial conditions[91].
江苏索普(600746) - 2017 Q1 - 季度财报
2017-04-28 16:00
Financial Performance - Total assets increased by 19.66% to CNY 762,236,198.43 compared to the end of the previous year[6] - Operating income rose by 50.65% to CNY 210,562,114.42 year-on-year[6] - Net profit attributable to shareholders surged by 3,669.65% to CNY 46,985,310.29 compared to the same period last year[6] - Cash flow from operating activities increased by 170.60% to CNY 89,359,196.11 year-on-year[6] - Basic earnings per share reached CNY 0.1533, a significant increase from CNY 0.0041 in the previous year[6] - The weighted average return on equity increased by 9.862 percentage points to 10.16%[6] - The company reported a net profit of CNY 30,118,932.97 after deducting non-recurring gains and losses, a rise of 2,273.25% year-on-year[6] - The company's operating revenue for the current period reached ¥210,562,114.42, a significant increase of 50.7% compared to ¥139,770,946.96 in the previous period[23] - Net profit for the current period was ¥46,985,310.29, compared to ¥1,246,411.42 in the previous period, reflecting a substantial growth[23] - The operating profit increased to ¥40,158,577.30 from ¥1,736,140.70, indicating a strong improvement in operational efficiency[23] - The total comprehensive income for the current period was ¥47,027,310.29, compared to ¥1,225,936.42 in the previous period, highlighting overall financial health[24] Shareholder Information - The total number of shareholders reached 14,622 at the end of the reporting period[11] - Jiangsu Sop (Group) Co., Ltd. holds 54.81% of the shares, with 18,557,139 shares pledged[11] Cash and Liquidity - Cash and cash equivalents increased by 148.15% compared to the beginning of the period, mainly due to an increase in net cash flow[14] - The cash and cash equivalents at the end of the period totaled ¥116,602,587.03, compared to ¥66,819,856.60 at the end of the previous period, indicating improved liquidity[27] - The net cash flow from operating activities was ¥89,359,196.11, up from ¥33,022,010.44, showcasing enhanced cash generation capabilities[26] - Investment activities resulted in a net cash outflow of ¥19,514,656.85, reflecting ongoing investments in growth initiatives[27] Revenue and Cost Factors - Operating revenue increased by 50.65% year-on-year, mainly due to a significant rise in the selling price of the main product, ADC blowing agent[18] - Net profit increased significantly compared to the same period last year, driven by higher product prices and lower raw material costs, leading to an increase in gross profit margin[18] - Tax expenses increased by 105.34% year-on-year, primarily due to higher product prices leading to increased value-added tax and property tax[18] Accounts and Payables - Accounts receivable rose by 106.91% compared to the beginning of the period, primarily due to more acceptances received than paid and matured[14] - Other payables rose by 124.12% compared to the beginning of the period, mainly due to the accrual of some major repair costs[18] - Accounts payable increased by 98.02%, attributed to an increase in bank acceptances issued by the company during the period[18] Management and Future Outlook - Management expenses rose by 134.24% year-on-year, mainly due to depreciation charges related to the shutdown of the chlorine-alkali unit being included in management expenses[18] - The company expects cumulative net profit for the next reporting period to increase significantly compared to the same period last year, mainly due to favorable market conditions for ADC blowing agents and relocation compensation income[17] - The company is focusing on expanding its market presence and enhancing product offerings, as indicated by the increase in sales and investment activities[27]
江苏索普(600746) - 2016 Q4 - 年度财报
2017-04-28 16:00
Financial Performance - The company's operating revenue for 2016 was CNY 623,471,557.69, representing a 7.6% increase compared to CNY 579,409,538.78 in 2015[17]. - The net profit attributable to shareholders for 2016 was CNY 21,782,663.50, a significant recovery from a loss of CNY 20,305,085.90 in 2015[17]. - The net cash flow from operating activities reached CNY 179,322,229.56, a remarkable increase of 903.77% from CNY 17,864,831.17 in the previous year[17]. - Total assets at the end of 2016 amounted to CNY 636,989,792.20, reflecting a 23.51% increase from CNY 515,729,399.39 in 2015[17]. - The company's net assets attributable to shareholders increased by 5.22% to CNY 438,995,331.89 from CNY 417,223,168.39 in 2015[17]. - Basic earnings per share for 2016 were CNY 0.0711, recovering from a loss of CNY 0.0663 per share in 2015[18]. - The weighted average return on equity for 2016 was 5.09%, compared to -4.75% in 2015[18]. - The gross profit margin for chemical products was 13.74%, with a year-on-year increase of 14.24 percentage points[42]. - The company reported a total profit of CNY 29.60 million, a significant improvement from a loss of CNY 28.19 million in the previous year[50]. Production and Operations - The production of caustic soda reached 74.63% of the annual plan due to the shutdown of the chlor-alkali production unit since late September 2016[38]. - The production of ADC stabilized at 97.43% of the annual plan, with a year-on-year decrease of 1.72%[38]. - The company completed the R&D of 6 new ADC foaming agent products, with three already in mass production[36]. - The company has developed over 40 specialized composite products and seven series of products with average particle sizes ranging from 3 to 25μm[32]. - The company’s ADC blowing agent production capacity is currently ranked third in China, with a total capacity of approximately 400,000 tons per year, and the top three manufacturers account for over 50% of the domestic total capacity[57]. - The company’s main business includes the production and sales of ADC blowing agents, bleaching powder, caustic soda, and chlorine[28]. Research and Development - The company has successfully developed an environmentally friendly low-ammonia ADC composite product, achieving good results in 2016[32]. - The company completed the research and development of six new ADC blowing agent products in 2016, with three already in mass production[61]. - The company holds six patents and has filed for two additional patents related to chlor-alkali production technology in 2016[32]. Market and Sales - Total sales revenue from the top five customers reached CNY 259.64 million, accounting for 41.64% of the annual total sales[46]. - Total procurement from the top five suppliers was CNY 288.26 million, representing 63.24% of the annual total procurement[46]. - The average selling price of ADC blowing agent increased by approximately RMB 1,500 per ton compared to the previous year[72]. - The company’s sales model primarily relies on agent sales, supplemented by direct sales, to cater to user characteristics[30]. - The company’s sales through direct channels increased by 28.99% year-on-year, while sales through distributors grew by 2.37%[74]. Financial Position - Current assets totaled CNY 273,470,718.83, up from CNY 94,096,399.84 at the start of the year, indicating significant growth[157]. - Cash and cash equivalents increased to CNY 47,150,056.95 from CNY 34,205,980.44, reflecting a growth of approximately 37.5%[157]. - Total liabilities reached CNY 197,994,460.31, up from CNY 98,506,231.00, showing a substantial increase[158]. - The company's equity remained stable with total equity at CNY 438,995,331.89 as of December 31, 2016[158]. Environmental and Compliance - The company has implemented strict environmental protection measures, including the establishment of multiple management systems for waste and emissions control[106]. - The company’s ammonia nitrogen (NH3-N) emissions decreased by 9.6% during the reporting period[106]. - The company has achieved significant reductions in emissions for various pollutants, including sulfur mist and industrial dust, with actual emissions well below permitted levels[110]. - The company has not experienced any environmental pollution incidents or disputes during the reporting period[106]. Governance and Management - The company has a diverse board with members holding positions in other companies, enhancing its governance and oversight capabilities[133]. - The company organized training for 68 employees to obtain job qualifications, achieving a 100% pass rate for 408 participants in the safety certification exam[140]. - The company held 8 board meetings during the reporting period, ensuring compliance with governance standards and maintaining transparency in decision-making[144]. - The remuneration for directors and senior management is based on a salary system linked to performance, ensuring alignment with company goals[135]. Strategic Planning - The company plans to focus on innovation and quality improvement in 2017, aligning with its strategic goals of "one main business, two integrations, three platforms, and four hundred billion"[37]. - The company aims to achieve a net profit of 50 million RMB and operating revenue of 650 million RMB, with a sales rate of 99% and a cash recovery rate of 100%[81]. - The company plans to enhance product quality, increase R&D investment, and implement smart upgrades as part of its development strategy[80]. - The company recognizes the risk of market competition and plans to innovate and develop high-value fine chemical products to enhance competitiveness[82].
江苏索普(600746) - 2016 Q3 - 季度财报
2016-10-28 16:00
Financial Performance - Operating income for the first nine months reached CNY 450,097,454.23, representing a growth of 6.3% year-on-year[7] - Net profit attributable to shareholders was CNY 23,068,659.92, a significant recovery from a loss of CNY 21,290,379.99 in the previous year[7] - Basic earnings per share improved to CNY 0.07524 from a loss of CNY 0.0695 per share[8] - Net profit for the period was CNY 9,450,363.90, compared to a net loss of CNY 9,635,454.03 in the same period last year[26] - Operating revenue for the first nine months reached CNY 450,097,454.23, up from CNY 423,412,242.07, reflecting a growth of approximately 6.3%[25] - Operating costs decreased to CNY 392,054,625.28 from CNY 431,245,433.56, resulting in a reduction of about 9.1%[25] - The company reported a total equity of CNY 442,163,292.60, an increase from CNY 417,223,168.39, indicating a growth of approximately 6%[23] - Earnings per share improved to CNY 0.0308 from a loss of CNY 0.0314 in the previous year[27] Cash Flow and Liquidity - Net cash flow from operating activities surged by 591.66% to CNY 49,709,385.20 compared to the same period last year[7] - Operating cash flow net amount increased significantly to ¥49,709,385.20 from ¥7,186,946.81 year-on-year, representing a growth of approximately 590%[28] - Cash inflow from operating activities totaled ¥415,829,480.47, compared to ¥402,070,891.63 in the previous year, indicating a year-on-year increase of about 3.4%[28] - Cash outflow from operating activities decreased to ¥366,120,095.27 from ¥394,883,944.82, reflecting a reduction of approximately 7.3%[28] - The cash and cash equivalents at the end of the period reached ¥83,612,834.21, a significant rise from ¥21,597,652.29 in the previous year, representing an increase of approximately 287%[29] - The company maintained a strong liquidity position with a net increase in cash and cash equivalents of ¥49,806,853.77 compared to ¥7,218,407.66 in the previous year, reflecting robust operational performance[29] Assets and Liabilities - Total assets increased by 16.19% to CNY 599,225,911.99 compared to the end of the previous year[7] - Current assets rose significantly to CNY 214,317,738.88 from CNY 94,096,399.84, marking an increase of about 127.7%[22] - The total liabilities increased to CNY 157,062,619.39 from CNY 98,506,231.00, which is an increase of about 59.4%[23] - Deferred tax assets decreased by 33.8% compared to the beginning of the period, mainly due to last year's losses being partially offset this year[16] Shareholder Information - The total number of shareholders at the end of the reporting period was not specified, but the report includes details on the top ten shareholders[12] - Total number of shareholders is 16,019[13] - Jiangsu Sop (Group) Co., Ltd. holds 167,954,942 shares, accounting for 54.81% of total shares[14] Other Financial Metrics - The weighted average return on equity increased by 10.3674 percentage points to 5.3772%[8] - The company reported a 190.6% increase in undistributed profits compared to the beginning of the period, reflecting current period profits being transferred[16] - The company’s financial expenses showed significant changes, with interest income exceeding the previous year[16] - Deferred income rose slightly to CNY 10,634,000.00 from CNY 10,544,000.00, showing a marginal increase of 0.85%[23] - The company recorded a financial expense of CNY -366,353.23, compared to CNY -145,496.84 in the previous period, indicating a worsening of financial costs[26] Operational Changes - The company plans to gradually shut down its chlor-alkali products as part of environmental governance efforts[17] - Other payables increased by 375.88% compared to the beginning of the period, primarily due to accrued maintenance costs[16]
江苏索普(600746) - 2016 Q2 - 季度财报
2016-08-30 16:00
Financial Performance - The company's operating revenue for the first half of 2016 was CNY 304,376,195.64, representing a 7.85% increase compared to CNY 282,208,765.61 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 13,604,625.95, a significant recovery from a loss of CNY 11,663,702.86 in the previous year[16]. - The net cash flow from operating activities increased by 201.65% to CNY 55,975,204.67, compared to CNY 18,556,575.52 in the same period last year[16]. - The total assets at the end of the reporting period were CNY 603,419,983.37, reflecting a 17.00% increase from CNY 515,729,399.39 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company increased by 3.54% to CNY 431,986,693.94 from CNY 417,223,168.39 at the end of the previous year[16]. - The basic earnings per share for the first half of 2016 was CNY 0.0444, recovering from a loss of CNY 0.0381 in the same period last year[17]. - The weighted average return on net assets was 3.2085%, a recovery from -2.7019% in the previous year[17]. - The company achieved operating revenue of CNY 304.38 million in the first half of 2016, completing 51% of the annual target, with a year-on-year growth of 7.85%[23]. - Net profit for the first half of 2016 was CNY 13.60 million, an increase of CNY 25.27 million compared to the same period last year[23]. - The production volume of ADC reached 24,108.12 tons, representing a year-on-year increase of 7.66%[23]. Cash Flow and Assets - The net cash flow from operating activities increased by 201.65% to CNY 55.98 million compared to the previous year[25]. - The total amount of related party transactions reported is CNY 39,053,328.10[45]. - The company provided funding to related parties amounting to CNY 37,497,814.28 during the reporting period, with an ending balance of CNY 2,160,677.73[50]. - The initial balance for related party funding was CNY 1,812,385.47, with a final balance of CNY 2,160,677.73, indicating an increase of approximately 19.2%[50]. - The company reported a total of CNY 10,398,277.76 in related party funding at the beginning of the period, with no changes by the end of the period[49]. - The company’s total related party funding activities resulted in a net balance of CNY 31,159,507.85 by the end of the reporting period[50]. - The ending balance of cash and cash equivalents reached 89,856,281.75, compared to 32,930,138.12 at the end of the previous period[75]. - The total equity increased to CNY 431,986,693.94 from CNY 417,223,168.39, reflecting a growth of about 3.6%[70]. - The company reported a total comprehensive income of -21,525,000.00 for the current period[79]. - The cash flow from financing activities was not detailed in the provided data, indicating potential areas for future reporting[75]. Related Party Transactions - There were no non-operating fund occupation situations by controlling shareholders or related parties[3]. - The related party transaction for raw materials purchased by the parent company amounts to CNY 9,201,272.37, representing 10.69% of the market price[44]. - The related party transaction for auxiliary materials purchased by the parent company amounts to CNY 7,503,274.07, representing 37.25% of the market price[43]. - The related party transaction for the sale of chemical products (high purity hydrogen) amounts to CNY 7,794.87, with no percentage provided[44]. - The company’s related party transactions did not impact its operational results or financial status significantly[50]. - The company confirmed that all related party transactions were conducted under normal business conditions[50]. Shareholder Information - The total number of shareholders reached 16,460 by the end of the reporting period[57]. - Jiangsu Sop Group Co., Ltd. holds 167,954,942 shares, accounting for 54.81% of the total shares[58]. - The company has pledged 65,071,299 shares, indicating a significant portion of shares under collateral[58]. - The first major shareholder, Jiangsu Sop Group, has not reduced its holdings during the reporting period[58]. - The company has committed to not reducing its holdings and plans to increase its stock investment by no less than 18 million yuan[53]. Accounting Policies and Financial Reporting - The report period's financial report has not been audited, ensuring transparency in the financial disclosures[2]. - The company has not reported any penalties or rectifications for its directors, supervisors, or senior management[54]. - The company has not issued any new shares or undergone any major mergers or acquisitions during the reporting period[60]. - There were no significant changes in accounting policies or estimates during the reporting period[54]. - The financial statements are prepared based on the going concern assumption and comply with accounting standards[87]. - The company’s financial reports reflect its financial position, operating results, changes in equity, and cash flows accurately[87]. Inventory and Receivables - The total inventory at the end of the period amounts to CNY 23,816,491.26, with a decline in value provision of CNY 198,803.43[171]. - The balance of raw materials at the end of the period is CNY 15,551,416.19, with a provision for decline in value of CNY 198,803.43[170]. - The total amount of other receivables at the end of the period is CNY 1,062,680.06, with a bad debt provision of CNY 209,855.32, resulting in a provision ratio of 19.75%[165]. - The aging analysis of other receivables shows that 50.84% of the total is within one year, amounting to CNY 692,839.00[168]. - The company has a significant amount of overdue receivables, with CNY 300,000.00 classified as overdue for more than three years[168]. Capital Expenditures and Projects - The total budget for the ion membrane phase II project is CNY 130,000,000.00, with a completion rate of 88.23%[187]. - The total budget for the hydrazine project is CNY 182,110,000.00, with a completion rate of 29.68%[187]. - The total capitalized interest for the period is CNY 8,129,495.56, with a capitalized interest rate of 36.09%[187]. - The company has no impairment provisions for construction in progress at the end of the reporting period[189]. Taxation and Deferred Tax - The total deferred tax assets amounted to 73,533,729.52 RMB, with a significant portion attributed to deductible losses[196]. - The company recorded a total of 457,800.00 RMB in deferred tax liabilities related to available-for-sale financial assets[198]. - The company has not recognized any deferred tax assets that are not confirmed[199].