证券代码：600844 900921 证券简称：丹化科技 丹科 B 股 编号：临 2023－011 丹化化工科技股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023 年 5 月 23 日(星期二) 上午 9:00-10:00 会 议 召 开 地 点 ： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 5 月 16 日(星期二)至 5 月 22 日(星期一)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 s600844@126.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 公司已于 2023 年 4 月 21 日发布公司 2022 年年度报告，为便于广大投资者 更全面深入地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 5 月 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥233,516,090.43, representing a decrease of 10.96% compared to the same period last year[3] - The net profit attributable to shareholders was a loss of ¥40,813,164.81, with a diluted earnings per share of -¥0.0401[3] - The net profit for Q1 2023 was -52,906,234.33 RMB, compared to -1,859,862.38 RMB in Q1 2022, indicating a significant decline in profitability[16] - Operating profit for Q1 2023 was -52,325,640.35 RMB, compared to -1,535,196.25 RMB in the same period last year, reflecting a worsening operational performance[16] - Total comprehensive income for Q1 2023 was -52,807,403.69 RMB, compared to -3,579,602.83 RMB in Q1 2022, highlighting a substantial increase in losses[16] - The total operating costs increased to RMB 287,587,246.59, up 8.61% from RMB 264,925,079.42 in the same period last year[14] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 182.46%, amounting to -¥14,034,962.86[3] - Cash flow from operating activities showed a net outflow of -14,034,962.86 RMB in Q1 2023, down from a net inflow of 17,021,090.88 RMB in Q1 2022[18] - The company reported cash and cash equivalents of 78,610,352.44 RMB at the end of Q1 2023, down from 136,630,616.39 RMB at the end of Q1 2022[19] - The cash and cash equivalents increased to RMB 81,862,352.44 from RMB 47,905,810.82 as of December 31, 2022, showing a significant improvement in liquidity[11] - Cash inflow from financing activities in Q1 2023 was 95,000,000.00 RMB, an increase from 89,000,000.00 RMB in Q1 2022[19] - The company incurred a total operating cash outflow of 327,079,369.70 RMB in Q1 2023, compared to 340,235,194.30 RMB in Q1 2022[18] - The net cash flow from investing activities was 380,251.81 RMB in Q1 2023, a recovery from a net outflow of -756,568.12 RMB in Q1 2022[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,885,970,224.07, an increase of 1.28% from the end of the previous year[4] - The company’s total assets as of March 31, 2023, were RMB 1,885,970,224.07, a slight increase from RMB 1,862,152,489.16 at the end of 2022[14] - Total liabilities increased to RMB 655,373,834.13 from RMB 578,748,695.53 at the end of 2022, reflecting higher short-term borrowings[13] - Shareholders' equity attributable to the parent company decreased by 4.36%, totaling ¥893,070,991.49[4] Operational Performance - The company produced 34,100 tons of ethylene glycol and 27,400 tons of oxalic acid in Q1 2023, but faced operational losses due to rising raw material costs[10] - The company plans to focus on improving operational efficiency and managing costs in response to the current market challenges[10] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[5] - The company has not reported any significant new product launches or technological advancements during this quarter[5] Accounts Receivable and Inventory - Accounts receivable increased by 38.91%, attributed to an increase in sales on credit[5] - Accounts receivable rose to RMB 23,395,129.01, up 39.06% from RMB 16,842,172.46 at the end of 2022[11] - Inventory levels increased to RMB 136,516,533.72, compared to RMB 124,086,159.24 at the end of 2022, indicating a buildup of stock[12] Investment Income and Expenses - The company reported a 192.62% increase in investment income, mainly from increased dividend income[5] - The company recorded a tax expense of 532,008.87 RMB in Q1 2023, compared to 307,331.19 RMB in Q1 2022, indicating an increase in tax obligations despite losses[16]

Financial Performance - The company's operating revenue for Q1 2022 was ¥262,246,154.56, representing a decrease of 2.00% compared to the same period last year[4] - The net profit attributable to shareholders of the listed company was -¥1,771,613.37, indicating a significant loss[4] - The company reported a net loss of RMB -1,614,101,649.25 for the period, compared to a loss of RMB -1,612,330,035.88 in the previous period[12] - Total operating revenue for Q1 2022 was CNY 262.25 million, a decrease of 2.5% compared to CNY 267.59 million in Q1 2021[14] - Net profit for Q1 2022 was a loss of CNY 1.86 million, an improvement from a loss of CNY 30.35 million in Q1 2021[15] - The company reported a total comprehensive loss of CNY 3.58 million for Q1 2022, compared to a loss of CNY 30.35 million in Q1 2021[15] Cash Flow and Assets - The net cash flow from operating activities was ¥17,021,090.88, showing an increase of 881.26% year-on-year[4] - The net cash flow from operating activities increased to CNY 17.02 million in Q1 2022, compared to CNY 1.73 million in Q1 2021[18] - Cash and cash equivalents increased to RMB 136,630,202.57 from RMB 79,597,294.83, marking a significant rise of approximately 71.7%[10] - Cash and cash equivalents at the end of Q1 2022 were CNY 136.63 million, slightly up from CNY 135.38 million at the end of Q1 2021[19] - The net cash flow from financing activities was CNY 40.77 million in Q1 2022, compared to CNY 6.83 million in Q1 2021, reflecting improved financing conditions[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,269,750,515.15, a slight increase of 0.69% from the end of the previous year[5] - As of March 31, 2022, the company's total assets amounted to RMB 2,269,750,515.15, an increase from RMB 2,254,241,316.43 at the end of 2021[10] - The company's current assets reached RMB 330,996,942.43, up from RMB 264,280,782.28 at the end of 2021, indicating a growth of approximately 25.2%[10] - Non-current assets totaled RMB 1,938,753,572.72, a decrease from RMB 1,989,960,534.15, reflecting a decline of about 2.6%[11] - The company's total liabilities were RMB 603,797,720.17, compared to RMB 584,708,918.62 at the end of 2021, representing an increase of approximately 3.6%[12] - The equity attributable to shareholders was RMB 1,229,431,005.96, slightly down from RMB 1,232,922,359.78, indicating a decrease of about 0.3%[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 64,159[8] - Jiangsu Danhua Group Co., Ltd. held 21.6% of the shares, making it the largest shareholder[8] Expenses and Earnings - The weighted average return on net assets was -0.1439%, an increase of 1.6391 percentage points compared to the previous year[4] - The basic and diluted earnings per share were both -¥0.0017, reflecting a decrease in losses compared to the previous year[4] - Basic and diluted earnings per share for Q1 2022 were both CNY -0.0017, an improvement from CNY -0.0231 in Q1 2021[15] - Total operating costs decreased to CNY 264.93 million in Q1 2022 from CNY 302.05 million in Q1 2021, representing a reduction of 12.2%[14] - Research and development expenses rose to CNY 12.36 million in Q1 2022, up from CNY 10.93 million in Q1 2021, indicating a focus on innovation[14] - The company reported a significant reduction in losses due to rising product prices and decreased management and sales expenses[6] Non-Recurring Items - Non-recurring gains and losses included a profit of ¥497,667 from the disposal of non-current assets[5]

2021 年半年度报告 公司代码：600844，900921 公司简称：丹化科技，丹科 B 股 丹化化工科技股份有限公司 2021 年半年度报告 1 / 149 2021 年半年度报告 重要提示 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 2021年度中期公司不进行利润分配 ，也不进行资本公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告涉及未来计划等前瞻性陈述，该等陈述不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 本公司面临的重大风险主要包括政策风险、市场风险、经营风险等，详见本报告"第三节 管理层 讨论与分析-五、其他披露事项-（一）可能面对的风险"。 十一、 其他 □适用 √不适用 2 / 149 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担 ...

2021 年第一季度报告 公司代码：600844，900921 公司简称：丹化科技，丹科 B 股 丹化化工科技股份有限公司 2021 年第一季度报告 1 / 23 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2021 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 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | 3,717,881.81 | | | 越权审批，或无正式批准文件，或偶发性的税收返还、减免 | | | 3 / 23 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 2,465,452,936.02 2,594,547,319.00 -4.98 归属于上市公司股东的净资产 1,302,880,397.15 1,326,319,761.67 -1.77 年初至报告期末 上年初至上年报告期 末 比上年同期 ...

Financial Performance - The company's operating revenue for 2020 was approximately RMB 1.08 billion, a decrease of 12.54% compared to RMB 1.23 billion in 2019[22]. - The net profit attributable to shareholders of the listed company was approximately -RMB 367.17 million, compared to -RMB 432.80 million in 2019, showing an improvement[22]. - The total assets at the end of 2020 were approximately RMB 2.59 billion, a decrease of 13.16% from RMB 2.99 billion at the end of 2019[23]. - The net assets attributable to shareholders of the listed company decreased by 21.59% to approximately RMB 1.33 billion from RMB 1.69 billion in 2019[23]. - The cash flow from operating activities for 2020 was approximately -RMB 38.28 million, a significant decline compared to RMB 7.22 million in 2019[22]. - The company reported a basic earnings per share of -0.3612 CNY for 2020, an improvement from -0.4258 CNY in 2019[24]. - The weighted average return on equity decreased to -24.33% in 2020, down 1.65 percentage points from -22.68% in 2019[24]. - Total revenue for the fourth quarter reached 469,303,143.55 CNY, while the net profit attributable to shareholders was -140,644,098.89 CNY[26]. - The company reported a total revenue of CNY 1.075 billion for the year, a decrease of 12.54% compared to the previous year[39]. - The net profit attributable to the parent company was a loss of CNY 367 million[39]. - Non-recurring losses totaled -903,863.51 CNY in 2020, compared to -668,088.84 CNY in 2019[28]. - The company reported a net loss of CNY 1,508,257,230.50 for 2020, compared to a net loss of CNY 1,143,045,805.41 in 2019[172]. - The company reported a total comprehensive loss of -9,900,510.96 CNY for 2020, compared to -208,348,050.17 CNY in 2019, showing a significant reduction in overall losses[182]. Production and Sales - The company achieved an annual production capacity of 220,000 tons of ethylene glycol and 80,000 tons of oxalic acid, with a production utilization rate of 75.58%[30][31]. - Domestic ethylene glycol production in 2020 was approximately 906,000 tons, a year-on-year increase of 16.1%[33]. - Ethylene glycol sales reached 147,593.58 tons, while production was 153,178.56 tons, indicating a slight production increase of 1.80%[45]. - The gross margin for ethylene glycol dropped to -56.60%, a decrease of 39.50 percentage points year-on-year[43]. - The company’s ethylene glycol production facility operated for 319 days in the year, with a total of 20 instances of reduced output due to equipment failures[71]. - The company maintains a stable sales network, primarily supplying downstream polyester manufacturers and chemical trading companies[32]. - The company's main products, ethylene glycol and oxalic acid, account for approximately 25% of the domestic market share in their respective categories[64]. Research and Development - Research and development expenses decreased by 14.94% to CNY 41.47 million[41]. - The total R&D investment accounted for 3.86% of operating revenue, with a total of ¥4,147.35 in R&D expenses[52]. - The company plans to accelerate industrialization in the biodegradable plastics sector, having generated CNY 10.58 million in sales from this area in 2020[39]. - The company plans to expand its production capacity in the biodegradable plastics sector, targeting 10,000 tons of biodegradable modified materials and 100 tons of various film products in 2021[87]. Risks and Challenges - The company faced significant risks including policy, market, and operational risks, which are detailed in the report[8]. - The company is currently facing challenges due to a single product line and weak risk resistance, with external investments not yet yielding benefits[39]. - The company faces risks including production instability, market oversupply of ethylene glycol, and rising raw material costs due to fluctuations in international oil prices[88]. - The coal chemical industry is expected to face tighter safety and environmental regulations, impacting future growth in the oxalic acid market[35]. Financial Position and Liabilities - The total amount of cash and cash equivalents increased by 85.42% to ¥147,474,592.27 at the end of the reporting period[55]. - The company reported a significant increase in accounts receivable, which rose by 102.40% to ¥97,758,276.96[56]. - The total inventory decreased by 55.59% to ¥128,349,788.09, indicating improved inventory management[56]. - The company's short-term borrowings increased by 54.03% to ¥400,477,083.37[55]. - The company's total liabilities included a new contract liability of ¥72,025,965.54, reflecting changes in accounting standards[55]. - The company's total equity decreased from CNY 2,253,065,080.83 in 2019 to CNY 1,785,118,830.37 in 2020, a decline of about 20.8%[172]. - Total liabilities increased from CNY 734,782,712.13 in 2019 to CNY 809,428,488.63 in 2020, an increase of approximately 10.1%[171]. Governance and Compliance - The company received an unqualified audit report from Zhongxinghua Accounting Firm, with emphasis on certain matters[7]. - The company has not faced any risks of suspension or termination of listing during the reporting period[96]. - The company has maintained compliance with environmental regulations, with no investigations or penalties reported[116]. - The company has not experienced any environmental pollution incidents or violations during the reporting period[116]. - The board of directors held five meetings during the year, with all members attending at least four meetings[146]. - There were no penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[137]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming fiscal year[199]. - Future guidance indicates a cautious outlook, with expectations of gradual recovery in performance metrics[199]. - The company is exploring potential mergers and acquisitions to enhance market position and operational capabilities[199]. - Investment in new technologies is prioritized to drive innovation and improve competitive advantage[199].

2020 年半年度报告 公司代码：600844 公司简称：丹化科技 丹化化工科技股份有限公司 2020 年半年度报告 1 / 137 2020 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人王斌、主管会计工作负责人蒋勇飞及会计机构负责人（会计主管人员）陈丽华声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 2020年度中期公司不进行利润分配 ，也不进行资本公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告涉及未来计划等前瞻性陈述，该等陈述不构成公司对投资者的实质承诺，请投资者 注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 本公司面临的重大风险主要包括政策风险、市场风险、经营风险等，详见本报告"第四节 ...

2019 年年度报告 公司代码：600844 公司简称：丹化科技 丹化化工科技股份有限公司 2019 年年度报告 1 / 182 2019 年年度报告 重要提示 如财务报表附注[六、11]、[十五]所述，丹化科技公司对联营企业内蒙古伊霖化工有限公司、 内蒙古伊霖巨鹏新能源有限公司分别出资 17,000 万元、2,500 万元，投资建设 20 万吨/年合成气 制乙二醇项目与 10 万吨/年燃料乙醇项目。截止 2019 年 12 月 31 日，上述工程项目非正常停工超 过三个月，由于未能获取充分、适当的审计证据，我们无法确定上述事项对长期股权投资期末价 值的影响。 四、 公司负责人王斌、主管会计工作负责人蒋勇飞及会计机构负责人（会计主管人员）陈丽华声 明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 2019 年度公司不进行利润分配，也不进行资本公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本年度报告涉及未来计划等前瞻性陈述，该等陈述不构成公司对投资者的实质承诺，请投资者注 意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金 ...

Financial Performance - The company's operating revenue for 2019 was approximately ¥1.23 billion, a decrease of 14.21% compared to ¥1.43 billion in 2018[21]. - The net profit attributable to shareholders for 2019 was approximately -¥432.8 million, a significant decline from a profit of ¥2.06 million in 2018, representing a decrease of 21,142.78%[21]. - The basic earnings per share for 2019 was -¥0.4258, compared to ¥0.0020 in 2018, indicating a substantial decline[23]. - The company reported a net cash flow from operating activities of approximately ¥7.22 million, a decrease of 98.05% from ¥370.23 million in 2018[22]. - The company reported a net loss of approximately 269.43 million RMB for the year 2019, compared to a profit of 2.06 million RMB in 2018[98]. - The net profit for 2019 was -208,348,050.17 RMB, compared to a net profit of -16,719,609.90 RMB in 2018, indicating a significant increase in losses[195]. - The total comprehensive income for 2019 was -208,348,050.17 RMB, compared to -16,719,609.90 RMB in 2018, showing a worsening financial position[195]. Assets and Liabilities - The total assets of the company as of December 31, 2019, were approximately ¥2.99 billion, down 11.92% from ¥3.39 billion in 2018[22]. - The total liabilities increased from ¥634,927,637.48 in 2018 to ¥734,782,712.13 in 2019, an increase of about 15.7%[183]. - The total equity attributable to shareholders decreased from ¥2,124,361,619.44 in 2018 to ¥1,691,531,186.76 in 2019, a decline of approximately 20.4%[183]. - The company's cash and cash equivalents decreased significantly from ¥219,205,204.47 in 2018 to ¥79,533,531.89 in 2019, a drop of about 64.5%[181]. - The inventory increased from ¥157,127,002.89 in 2018 to ¥289,043,126.69 in 2019, an increase of about 83.8%[181]. Production and Sales - The company produced 22,000 tons of ethylene glycol and 8,000 tons of oxalic acid, but did not meet its production targets due to operational stability issues[31]. - Ethylene glycol sales volume was 150,884 tons, with a production volume of 150,474 tons, showing a slight increase of 7.63% in sales volume year-over-year[43]. - The average selling price of ethylene glycol dropped approximately 33.7% compared to the previous year, leading to operational losses[38]. - The gross margin for ethylene glycol was -17.1%, reflecting a decrease of 184.67 percentage points year-over-year[42]. Investment and R&D - The company invested a total of ¥1.7 billion in joint ventures for projects including a 200,000 tons/year synthetic gas to ethylene glycol project and a 100,000 tons/year fuel ethanol project[4]. - The company's research and development expenses increased by 21.36% to CNY 48.76 million[42]. - The total R&D investment was 48.76 million yuan, which is 3.97% of the total operating revenue[51]. Market Conditions and Risks - The domestic ethylene glycol market faced pressure with a total production capacity increase of 2.31 million tons in 2019, leading to potential oversupply in 2020[34]. - The company faced significant risks including policy, market, and operational risks, which could impact future performance[7]. - The company anticipates that the ethylene glycol price volatility will impact production decisions in 2020, with potential adjustments based on market conditions[34]. - The demand for oxalic acid was significantly affected by strict safety and environmental regulations, leading to a low price environment in 2019[77]. Corporate Governance and Compliance - The company has not faced any risks of suspension or termination of its listing during the reporting period[107]. - The company has not reported any significant accounting errors that would require correction during the reporting period[105]. - The company has no significant litigation or arbitration matters pending or disclosed during the reporting period[108]. - The company has engaged Zhongxinghua Accounting Firm to audit the effectiveness of its internal control over financial reporting, receiving an unqualified opinion[162]. Shareholder Information - The company reported a total of 44,441 common stock shareholders at the end of the reporting period, an increase from 43,902 at the end of the previous month[126]. - Jiangsu Danhua Group Co., Ltd. holds 180,050,050 shares, accounting for 17.71% of total shares, with 44,000,000 shares pledged[129]. - The actual controller of the company is the Jiangsu Province Danyang Municipal Government[133]. Employee and Management - The company employed a total of 1,269 staff, with 949 in production, 19 in sales, 158 in technical roles, 19 in finance, and 124 in administration[147]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 4.2125 million yuan[143]. - The company has established a complete salary system, implementing a "position-based salary" policy and enhancing performance assessments across subsidiaries[148].

Financial Performance - The company's operating revenue for 2019 was approximately RMB 1.23 billion, a decrease of 14.21% compared to RMB 1.43 billion in 2018[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately RMB 269.43 million, compared to a profit of RMB 2.06 million in 2018, marking a significant decline[21]. - The net cash flow from operating activities was RMB 7.22 million, a decrease of 98.05% from RMB 370.23 million in the previous year[22]. - The total assets at the end of 2019 were approximately RMB 3.15 billion, down 6.99% from RMB 3.39 billion at the end of 2018[22]. - The net assets attributable to shareholders of the listed company decreased to approximately RMB 1.85 billion, a decline of 12.68% from RMB 2.12 billion in 2018[22]. - The basic earnings per share for 2019 was -0.2650 yuan, compared to 0.0020 yuan in 2018, indicating a significant drop[23]. - The weighted average return on net assets was -13.54%, a decrease of 13.64 percentage points from 0.10% in 2018[23]. - The company achieved an annual revenue of 1.23 billion RMB, a decrease of 14.21% compared to the previous year[39]. - The net profit attributable to the parent company was a loss of 269 million RMB[39]. - The company reported a significant increase in financial expenses, totaling CNY 17,282,453.31, compared to CNY 18,676,647.04 in the previous year[189]. - The company faced an overall comprehensive loss of -41,124,953.33 RMB for 2019, compared to -16,719,609.90 RMB in 2018, indicating a worsening financial position[194]. Production and Operations - The company produced 220,000 tons of ethylene glycol and 80,000 tons of oxalic acid, but did not meet its production targets due to operational stability issues[31]. - Ethylene glycol sales volume was 150,883.68 tons, with a production volume of 150,474.15 tons, showing a year-on-year increase of 7.63% in sales volume[43]. - The average selling price of ethylene glycol dropped by approximately 33.7% year-on-year, leading to operational losses[38]. - The production capacity of the coal-to-ethylene glycol facility is designed for 220,000 tons per year, but only 150,474 tons were produced this year[38]. - The company aims to achieve a stable production of 200,000 tons of ethylene glycol and 82,000 tons of oxalic acid in 2020, but faced significant shortfalls in the previous year due to system stability issues[91]. Market Conditions - The domestic market for ethylene glycol faced significant pressure, with prices dropping to historical lows due to increased supply and low demand, impacting overall profitability[32]. - In 2019, the total domestic production capacity for ethylene glycol increased by 2.31 million tons, reaching approximately 13.07 million tons, leading to concerns about oversupply in the market[34]. - The outlook for the ethylene glycol market remains uncertain, with potential capacity oversupply expected to keep prices low in the coming years[34]. Investments and Capital Expenditures - The company invested a total of RMB 1.9 billion in joint ventures for new projects, which faced operational delays exceeding three months[4]. - The company plans to enhance its core business by acquiring profitable assets through major asset restructuring[90]. - The company invested RMB 1.7 billion in Inner Mongolia Yilin Chemical Co., Ltd. and RMB 250 million in Inner Mongolia Yilin Jupeng New Energy Co., Ltd. for project development, which faced abnormal suspension for over three months[165]. Risks and Challenges - The company faces significant risks including policy, market, and operational risks, which may impact future performance[7]. - The company is facing challenges due to a single product line, which weakens its risk resistance capability[38]. - The company faces risks from production instability, market oversupply, and fluctuating oil prices, which could impact profitability[93]. - The coal-based ethylene glycol production process is expected to face stricter environmental regulations, impacting operational capabilities[93]. Environmental Compliance - Total sulfur dioxide emissions for the year were 48.44 tons, nitrogen oxides were 207.779 tons, and particulate matter was 42.088 tons, all below the permitted levels[118]. - The desulfurization project achieved a removal rate of over 95% for sulfur dioxide, with a total investment of 23 million RMB and a building area of 2902 m²[119]. - The wastewater treatment project, utilizing high-load aeration and anaerobic ammonia oxidation, has a total investment of 22.4 million RMB and is operating normally[120]. - The company has installed online monitoring systems for emissions and wastewater treatment, ensuring compliance with environmental standards[121]. - There were no environmental pollution incidents or violations reported during the year, and all hazardous waste was handled according to environmental assessment requirements[122]. Corporate Governance - The company has engaged in significant related party transactions totaling RMB 1,539.26 million, including sales of oxalic acid and purchases of chemical agents[110]. - The company has not disclosed any significant litigation or arbitration cases during the reporting period[108]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[109]. - The company has a diverse board with members holding various positions in other organizations, enhancing its governance structure[141]. - The independent directors raised concerns regarding the fairness of asset evaluation and protection of minority shareholders during major asset restructuring discussions[158]. Employee and Management Information - The company employed a total of 1,269 staff, with 949 in production, 19 in sales, 158 in technical roles, 19 in finance, and 124 in administration[146]. - The total remuneration for all directors, supervisors, and senior management was 4.2125 million yuan[142]. - The company has established a complete salary system, implementing a "position-based salary" policy and enhancing performance assessments across subsidiaries[147]. - In 2019, the company completed 17 special job training sessions with 139 participants, incurring a total training expense of CNY 76,390[148]. Audit and Financial Reporting - The audit report raised concerns regarding the inability to obtain sufficient evidence to determine the impact of the suspended projects on the long-term equity investment value[165]. - The audit identified revenue recognition as a key audit matter due to its significance and associated risks[167]. - The audit procedures included testing internal controls over sales and collections, and analyzing revenue and cost fluctuations[168]. - The audit firm communicated key audit matters to the governance layer, emphasizing the importance of internal control deficiencies identified during the audit[176].