Financial Performance - The company's operating revenue for the first half of 2018 was CNY 448,060,340.58, an increase of 6.94% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 72,168,373.78, up 40.99% year-on-year, primarily due to increased investment income from joint ventures and higher sales volume from subsidiaries[23]. - The net cash flow from operating activities increased by CNY 7,309,350.134, representing a growth of 20.34%, attributed to higher revenue and improved collection of receivables[23]. - The total profit was 2.446 billion RMB in the first half of 2018, representing a year-on-year increase of 3.78%[30]. - The blasting service revenue reached 7.763 billion RMB in the same period, showing a significant growth of 48.77% compared to the previous year[30]. - The main business revenue amounted to 14.513 billion RMB, reflecting a year-on-year increase of 6.73%[30]. - The company achieved operating revenue of 448.06 million yuan, a year-on-year increase of 6.94%[38]. - Net profit reached 72.30 million yuan, reflecting a growth of 36.56% compared to the same period last year[38]. - The total assets at the end of the reporting period were 2.49 billion yuan, an increase of 3.13% from the previous year[38]. Asset and Equity Management - The total assets at the end of the reporting period were CNY 2,494,717,896.17, a 3.13% increase from the end of the previous year[21]. - The net assets attributable to shareholders of the listed company reached CNY 1,814,066,598.05, reflecting a 4.06% increase compared to the previous year[21]. - The total equity rose to ¥1,912,763,658.61 from ¥1,844,160,174.89, reflecting an increase of about 3.7%[111]. - The total owner's equity at the end of the period is CNY 1,338,814,560.58, with a capital stock of CNY 300,156,330.00 and a capital reserve of CNY 801,135,408.63[139]. Operational Developments - The company completed the acquisition of 100% equity in Huai Bei Mining Co., Ltd. on August 2, 2018, increasing its total share capital to 2,112,380,969 shares[8]. - The company plans to consolidate the financial statements of Huai Bei Mining Co., Ltd. in its Q3 2018 report[8]. - The company is actively promoting the restructuring of Huai Mining Co., aiming to enhance its comprehensive strength and profitability through the acquisition of 100% equity[43]. - The company has made significant progress in the construction of the Dongshan Mine, with production conditions now met for the Wazikou and Wangshanwo mines[39]. - The company is focusing on "safety production, market expansion, quality management, and cost control" to maintain stable growth amidst industry challenges[58]. Market and Strategic Initiatives - The company is positioned to benefit from ongoing national infrastructure investments and international market expansion efforts[30]. - The company aims to enhance market share and increase the proportion of high-value products through targeted marketing strategies[44]. - The company plans to accelerate the development of the blasting service industry and extend its industrial chain to mitigate market risks[44]. - The company is actively pursuing business collaborations with large enterprises to jointly bid and develop major mining projects[44]. Risk Management - The company reported no significant risks affecting its production and operations during the reporting period[7]. - The company anticipates significant risks from macroeconomic factors, government policies, and safety management in the blasting industry, which could impact overall performance[58][59]. - The company is facing raw material price volatility, particularly for ammonium nitrate and sodium nitrate, which could pressure production costs and profitability[60]. Compliance and Governance - The company guarantees the independence of its financial operations, including establishing independent accounting departments and financial management systems[69]. - The company has committed to long-term compliance with these operational independence and competitive avoidance measures[69]. - The company has adhered to approval processes for related transactions, ensuring compliance with regulatory requirements[75]. - The company has maintained compliance with environmental regulations, successfully passing the ISO 14001 management system external review during the reporting period[87]. Environmental and Social Responsibility - The company has equipped comprehensive environmental protection facilities, including wastewater treatment and air pollution control systems, ensuring compliance with national standards[88]. - The company has implemented targeted poverty alleviation measures, providing a total of CNY 4.34 million in relief funds and assistance to employees in need[84]. - The company has helped 2 registered impoverished individuals to escape poverty during the reporting period[85]. Financial Reporting and Audit - The financial report is not subject to an audit report, indicating a straightforward financial status[106]. - The company continues to engage Huapu Tianjian Accounting Firm for the 2018 financial report audit, ensuring compliance with independent auditing standards[72]. - The financial statements are prepared in accordance with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[148].

Financial Performance - Operating revenue for the first quarter was CNY 169,225,154.59, representing a decrease of 9.02% year-on-year[6] - Net profit attributable to shareholders was CNY 13,219,770.87, down 1.97% from the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 22.57% year-on-year, amounting to CNY 12,307,938.18[6] - Basic earnings per share decreased by 20.00% to CNY 0.04[6] - Total operating revenue for Q1 2018 was CNY 169,225,154.59, a decrease of 9.5% compared to CNY 186,010,465.27 in the same period last year[26] - Net profit for Q1 2018 was CNY 11,605,898.43, a decline of 12.2% from CNY 13,224,769.30 in Q1 2017[27] - Total comprehensive income for Q1 2018 was CNY -1,205,233.07, compared to CNY 1,206,690.78 in Q1 2017[32] Cash Flow - The net cash flow from operating activities was negative at CNY -7,294,879.22, a decline of 178.37% compared to the previous year[6] - Cash flow from investing activities showed a decline of 92.03% to -¥7,523,354.90, linked to investment income recovery[13] - Cash inflow from operating activities totaled CNY 182,598,243.56, down from CNY 192,499,368.45 in the previous year[34] - The net cash flow from operating activities for Q1 2018 was -193,913.14 RMB, a decrease from 22,164.18 RMB in the same period last year[36] - The cash outflow from operating activities totaled 47,640,259.79 RMB, slightly higher than 44,958,957.88 RMB in the previous year, resulting in a net cash flow decrease[36] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,423,479,297.03, a slight increase of 0.19% compared to the end of the previous year[6] - Total liabilities decreased to CNY 293,370,326.57 from CNY 333,994,310.87, indicating a reduction of 12.2%[24] - Cash and cash equivalents decreased to CNY 85,462,725.34 from CNY 120,814,908.10, a decline of 29.2%[22] - Accounts receivable decreased to CNY 70,723,573.22 from CNY 75,762,702.67, a reduction of 6.5%[22] - Inventory increased to CNY 17,022,597.37 from CNY 13,950,304.25, reflecting an increase of 22.4%[23] Investments and Income - Investment income surged by 484.66% to ¥5,107,673.36, reflecting significant profit growth from associated companies[12] - The company reported an investment income of CNY 5,107,673.36 for Q1 2018, compared to CNY 873,607.88 in the previous year, showing a significant increase[27] - The company reported a non-recurring gain of CNY 911,832.69, primarily from the reversal of bad debt provisions[7] Expenses - Financial expenses decreased by 92.43% to ¥281,260.69, attributed to reduced bank borrowings[12] - Management expenses decreased to CNY 5,568,660.26 from CNY 6,018,500.40 year-on-year, reflecting a reduction of approximately 7.5%[30] - Financial expenses significantly decreased to CNY 725,523.48 from CNY 3,005,043.10, a reduction of about 75.8%[30] Shareholder Information - The total number of shareholders at the end of the reporting period was not disclosed, but the top ten shareholders held a combined 49.36% of the shares[9] - The company is actively working on a share issuance and cash payment to acquire assets from Huai Mining, with the restructuring application submitted to the China Securities Regulatory Commission[13]

Financial Performance - The company achieved a net profit of ¥21,920,872.90 for the year 2017, with a proposed cash dividend of ¥1.2 per 10 shares, totaling ¥36,018,759.60[7]. - The total distributable profit available to shareholders at the end of 2017 was ¥182,103,814.93, after allocating ¥2,192,087.29 to statutory surplus reserves[7]. - The company reported an unallocated profit of ¥146,085,055.33 to be carried forward to the next year[7]. - The company's operating revenue for 2017 was approximately ¥956.50 million, representing a 14.43% increase compared to ¥835.85 million in 2016[23]. - Net profit attributable to shareholders for 2017 was approximately ¥118.89 million, a 32.01% increase from ¥90.06 million in 2016[25]. - The basic earnings per share for 2017 was ¥0.41, up 20.59% from ¥0.34 in 2016[24]. - The net cash flow from operating activities decreased by 36.18% to approximately ¥142.38 million in 2017, down from ¥223.10 million in 2016[25]. - The company's total assets at the end of 2017 were approximately ¥2.42 billion, a 15.56% increase from ¥2.09 billion at the end of 2016[23]. - The net assets attributable to shareholders increased by 40.66% to approximately ¥1.74 billion at the end of 2017, compared to ¥1.24 billion at the end of 2016[23]. - The weighted average return on equity for 2017 was 7.93%, slightly up from 7.86% in 2016[24]. Shareholder Information - The controlling shareholder, Huai Mining Group, holds a 35.66% stake in the company, while the subsidiary Huai Mining Co. holds an 84.39% stake[13]. - The company has not proposed any capital reserve transfer to increase share capital for the year[7]. - The company has maintained its cash dividend policy, distributing 1 yuan per 10 shares to shareholders, totaling 30,015,633 yuan for the 2016 fiscal year[127]. - The company proposed a cash dividend of 1.2 RMB per 10 shares, totaling 36,018,759.60 RMB, based on a total share capital of 300,156,330 shares as of December 31, 2017[128]. - The net profit attributable to ordinary shareholders for 2017 was 118,892,403.53 RMB, resulting in a cash dividend payout ratio of 30.30%[130]. - The remaining undistributed profit for 2017 was 146,085,055.33 RMB, which will be carried forward to the next year[128]. Operational Performance - The company reported a significant increase in revenue from construction aggregates and excavation transportation services, contributing to the overall revenue growth[24]. - The net profit from construction aggregate mining was approximately ¥11.58 million in 2017, contributing to the profit increase[25]. - The company received various government subsidies totaling approximately ¥0.20 million for environmental protection and industry development[29]. - The controllable costs decreased by 10.1% year-on-year, effectively mitigating the impact of rising raw material prices[38]. - The company’s R&D expenditure was CNY 9.62 million, indicating ongoing investment in technology and product development[42]. - The company’s mining operations have become a new economic growth point, contributing to overall performance improvement[38]. Industry Overview - The company operates in the chemical raw materials and chemical products manufacturing industry, which is subject to strict safety regulations and licensing requirements[58]. - Recent industry policies have focused on enhancing safety management and promoting sustainable development within the explosives sector[58]. - The civil explosives industry is expected to benefit from ongoing national investments in infrastructure, which will bolster domestic demand for explosives[71]. - The implementation of the "Belt and Road" initiative and other strategic projects is anticipated to enhance the market for civil explosive products and services[71]. - The industry achieved a total profit of 5.369 billion yuan in 2017, marking a 28.69% increase year-on-year, with production enterprises contributing 3.921 billion yuan, up 16.85%[69]. Governance and Compliance - The financial report was audited by Huapu Tianjian Accounting Firm, which issued a standard unqualified opinion[6]. - The company has established independent financial accounting departments and management systems to ensure financial independence[134]. - The company commits to avoiding any direct or indirect competition with its subsidiaries and will take necessary actions to prevent such competition[136]. - The company has pledged to maintain the independence of its assets and operations, ensuring that it can conduct business activities without reliance on the parent company[134]. - The company has committed to measures to mitigate the dilution of immediate returns from the non-public issuance of shares, ensuring that the compensation system for directors and senior management is linked to the execution of these measures[138]. Future Outlook - The company anticipates a shift in the industry towards integrated blasting services, with significant growth potential in this area despite a decline in explosive product demand[114]. - The profit target for 2018 is set at 1.65 billion yuan, with a net profit goal of 1.34 billion yuan, reflecting a 10% increase in profit compared to 2017[119]. - The company plans to enhance production automation and intelligence to improve safety and efficiency, aiming for full production and sales utilization[119]. - The company is focusing on expanding its mining operations, with plans to stabilize production at three existing mines and develop new mining resources[120]. - The company aims to increase its market share in blasting services, particularly in large-scale mining projects, and to expand into provincial markets[121]. Social Responsibility - The company has committed to social responsibility by focusing on targeted donations and poverty alleviation in 2017[162]. - A total of 476,000 RMB was invested in targeted poverty alleviation efforts, helping three registered impoverished individuals escape poverty[165]. - The company allocated 159,000 RMB in relief funds and 59,000 RMB in educational assistance to support employees in need during the year[163]. - The company plans to invest 300,000 RMB in targeted poverty alleviation efforts in 2018, focusing on funding and material support for impoverished areas[167].

[Important Notice](index=3&type=section&id=%E4%B8%80%E3%80%81%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) [Board Statement and Audit Status](index=3&type=section&id=1.1-1.4) The Board of Directors, Supervisory Board, and senior management affirm the truthfulness and completeness of this unaudited quarterly report and its financial statements - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions[6](index=6&type=chunk) - This company's third-quarter report is unaudited[6](index=6&type=chunk) [Company Profile](index=3&type=section&id=%E4%BA%8C%E3%80%81%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) As of Q3 2017, total assets grew by **11.32%** and net assets by **37.22%**, while Q1-Q3 operating revenue increased by **12.30%** but net profit declined by **10.15%**, with operating cash flow up **46.73%** Key Financial Data | Indicator | As of Report Period End / Year-to-Date | As of Prior Year-End / Prior Year Same Period | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 2,330,137,079.10 Yuan | 2,093,255,458.04 Yuan | 11.32% | | Net Assets Attributable to Shareholders | 1,700,641,137.09 Yuan | 1,239,376,975.91 Yuan | 37.22% | | Net Cash Flow from Operating Activities | 91,758,130.83 Yuan | 62,535,002.13 Yuan | 46.73% | | Operating Revenue | 667,917,532.31 Yuan | 594,774,663.25 Yuan | 12.30% | | Net Profit Attributable to Shareholders | 78,202,846.99 Yuan | 87,041,395.84 Yuan | -10.15% | | Basic Earnings Per Share (Yuan/share) | 0.28 Yuan | 0.33 Yuan | -15.15% | - In the first three quarters of 2017, the company's total non-recurring gains and losses amounted to **5.46 million Yuan**, primarily from government subsidies, including warehouse relocation compensation and fiscal incentives[7](index=7&type=chunk)[8](index=8&type=chunk) [Shareholder Information](index=5&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period, the company had **12,199** common shareholders, with controlling shareholder Huaibei Mining (Group) Co., Ltd. holding **35.66%** (partially pledged), and two top ten shareholders forming concerted parties - As of the end of the reporting period, the company had a total of **12,199** shareholders[10](index=10&type=chunk) Shareholder Holdings | Shareholder Name | Shares Held at Period End | Proportion (%) | | :--- | :--- | :--- | | Huaibei Mining (Group) Co., Ltd. | 107,023,416 | 35.66% | | Yunnan International Trust Co., Ltd. - Heshun No. 82 Collective Fund Trust Plan | 8,385,250 | 2.79% | | Lou Guoying | 7,199,424 | 2.40% | - Anhui Wantou Industrial Investment Co., Ltd. and Anhui Railway Development Fund Co., Ltd. are both controlled by Anhui Investment Group Holdings Co., Ltd., constituting concerted parties[11](index=11&type=chunk) [Preferred Shareholder Information](index=6&type=section&id=2.3%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E4%BC%98%E5%85%88%E8%82%A1%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) The company had no preferred shares or preferred shareholders during the reporting period - The company had no preferred shareholder information during this reporting period[11](index=11&type=chunk) [Significant Events](index=6&type=section&id=%E4%B8%89%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Analysis of Significant Changes in Key Financial Items](index=6&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Significant financial changes include a **66.02%** increase in cash from private placement, **100%** decrease in long-term borrowings, **573.34%** decline in investment income, and **87.90%** improvement in investing cash flow due to prior period's large mining rights purchase Asset and Liability Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Monetary Funds | 66.02% | Private placement proceeds received | | Prepayments | 81.87% | Unsettled material prepayments | | Other Non-current Assets | 168.53% | Prepayments for production line renovation projects | | Long-term Borrowings | -100.00% | Early repayment of borrowings | Income Statement Item Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Asset Impairment Losses | 102.46% | Reversal of previously accrued bad debt provisions in prior period | | Investment Income | -573.34% | Joint venture Tongming Mining is in construction phase | | Non-operating Income | -67.10% | Accounting standard change, some government subsidies reclassified to “Other Income” | Cash Flow Statement Item Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Net Cash Flow from Investing Activities | 87.90% | Prior period included **300 million Yuan** payment for Xiaoxian mining rights | | Net Cash Flow from Financing Activities | -50.54% | Early repayment of bank loans in current period | [Progress of Major Asset Restructuring](index=7&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) The company's stock has been suspended since August 1, 2017, due to a complex, large-scale major asset restructuring by its controlling shareholder, requiring extended suspension and multiple approvals - The company's stock has been suspended since **August 1, 2017**, and entered the major asset restructuring suspension process due to significant matters planned by the controlling shareholder[15](index=15&type=chunk) - The restructuring involves a large asset scale, requires multiple asset valuations, and must comply with state-owned asset transaction regulations, thus the work is not yet complete, and the company has repeatedly applied for extensions of the suspension period[15](index=15&type=chunk)[16](index=16&type=chunk) [Commitments and Profit Forecast](index=8&type=section&id=3.3%20%26%203.4) The company has no overdue unfulfilled commitments and has not issued any profit warnings for the cumulative net profit up to the next reporting period - The company had no overdue unfulfilled commitments during the reporting period[17](index=17&type=chunk) - The company has not issued a significant change warning for the cumulative net profit from the beginning of the year to the end of the next reporting period[17](index=17&type=chunk) [Appendix](index=8&type=section&id=%E5%9B%9B%E3%80%81%20%E9%99%84%E5%BD%95) [Financial Statements](index=8&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's unaudited consolidated and parent company financial statements as of September 30, 2017, covering balance sheets, income statements, and cash flow statements [Consolidated Balance Sheet](index=8&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, 2017, consolidated total assets were **2.33 billion Yuan** (up **11.32%**), total liabilities **515 million Yuan** (down **31.36%**), and parent equity **1.70 billion Yuan** (up **37.22%**) Consolidated Balance Sheet Summary | Item | Balance at Period End (Yuan) | Balance at Year Start (Yuan) | | :--- | :--- | :--- | | Total Assets | 2,330,137,079.10 | 2,093,255,458.04 | | Total Liabilities | 515,486,878.74 | 750,960,779.97 | | Total Equity Attributable to Parent Company Owners | 1,700,641,137.09 | 1,239,376,975.91 | [Parent Company Balance Sheet](index=11&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, 2017, parent company total assets were **1.685 billion Yuan** (up **9.61%**), total liabilities **283 million Yuan** (down **51.50%**), and total owner's equity **1.403 billion Yuan** (up **47.00%**) Parent Company Balance Sheet Summary | Item | Balance at Period End (Yuan) | Balance at Year Start (Yuan) | | :--- | :--- | :--- | | Total Assets | 1,685,125,686.29 | 1,537,389,341.45 | | Total Liabilities | 282,551,259.61 | 582,601,852.64 | | Total Owner's Equity | 1,402,574,426.68 | 954,787,488.81 | [Consolidated Income Statement](index=13&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1-Q3 2017, consolidated total operating revenue was **668 million Yuan** (up **12.30%**), but net profit attributable to parent company owners declined **10.15%** to **78.20 million Yuan**, with basic EPS at **0.28 Yuan** Consolidated Income Statement Summary | Item | Year-to-Date Amount (Yuan) | Prior Year Year-to-Date Amount (Yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 667,917,532.31 | 594,774,663.25 | | III. Operating Profit | 100,866,511.76 | 106,119,535.79 | | Net Profit Attributable to Parent Company Owners | 78,202,846.99 | 87,041,395.84 | | (I) Basic Earnings Per Share (Yuan/share) | 0.28 | 0.33 | [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) In Q1-Q3 2017, parent company operating revenue was **167 million Yuan** (up **12.0%**), and net profit surged **78.7%** to **68.81 million Yuan**, driven by increased investment income Parent Company Income Statement Summary | Item | Year-to-Date Amount (Yuan) | Prior Year Year-to-Date Amount (Yuan) | | :--- | :--- | :--- | | I. Operating Revenue | 166,923,174.02 | 149,082,429.93 | | Investment Income | 56,336,957.07 | 38,060,000.00 | | IV. Net Profit | 68,812,002.71 | 38,501,260.08 | [Consolidated Cash Flow Statement](index=17&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 Q1-Q3 2017, operating cash flow was **91.76 million Yuan** (up **46.73%**), investing cash outflow narrowed to **35.96 million Yuan**, financing cash inflow was **131 million Yuan** (down **50.54%**), and period-end cash was **468 million Yuan** Consolidated Cash Flow Statement Summary | Item | Year-to-Date Amount (Yuan) | Prior Year Year-to-Date Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 91,758,130.83 | 62,535,002.13 | | Net Cash Flow from Investing Activities | -35,958,557.44 | -297,268,728.87 | | Net Cash Flow from Financing Activities | 131,384,824.68 | 265,634,711.25 | | Cash and Cash Equivalents at Period End | 468,360,075.84 | 208,358,596.83 | [Parent Company Cash Flow Statement](index=19&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 Q1-Q3 2017, parent company operating cash flow improved to a **22.98 million Yuan** inflow, investing cash outflow was **211 million Yuan**, financing cash inflow was **127 million Yuan**, and period-end cash was **58.55 million Yuan** Parent Company Cash Flow Statement Summary | Item | Year-to-Date Amount (Yuan) | Prior Year Year-to-Date Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 22,977,254.92 | -12,637,942.52 | | Net Cash Flow from Investing Activities | -211,215,236.57 | -252,196,458.86 | | Net Cash Flow from Financing Activities | 126,691,321.70 | 260,922,995.40 | | Cash and Cash Equivalents at Period End | 58,549,058.46 | 43,326,013.93 | [Audit Report](index=20&type=section&id=4.2%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly financial report is unaudited - This quarterly report is unaudited[36](index=36&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 418,983,441.40, representing a 9.85% increase compared to CNY 381,431,428.14 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 7.74% to CNY 51,185,566.30 from CNY 55,477,564.83 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 49,621,968.14, down 10.04% from CNY 55,161,557.59 in the previous year[18]. - The net cash flow from operating activities increased by 9.77% to CNY 60,741,196.86 compared to CNY 55,336,148.97 in the same period last year[18]. - Basic earnings per share for the first half of 2017 were CNY 0.19, down 9.52% from CNY 0.21 in the same period last year[19]. - The weighted average return on net assets decreased by 1.01 percentage points to 3.67% from 4.68% year-on-year[19]. - Operating revenue for the reporting period increased by 34.55 million yuan, representing a growth of 9.85%, while net profit attributable to shareholders decreased by 4.29 million yuan, a decline of 7.73%[20]. - Net profit for the period was CNY 52.94 million, a decrease of 4.63% compared to the previous year[34]. - The company's basic earnings per share for the current year is calculated at 0.19, with diluted earnings per share also at 0.19[20]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,310,390,818.83, a 10.37% increase from CNY 2,093,255,458.04 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 34.92% to CNY 1,672,160,868.78 from CNY 1,239,376,975.91 at the end of the previous year[18]. - Total assets at the end of the period reached CNY 2.31 billion, an increase of 10.37% from the previous year[34]. - Total liabilities decreased to CNY 532,282,975.51 from CNY 750,960,779.97, a reduction of about 29.1%[95]. - The company's equity increased to CNY 1,338,814,560.58, up from CNY 954,787,488.81, reflecting a growth of 40.3%[99]. Cash Flow - The net cash flow from operating activities increased by 5.41 million yuan, a growth of 9.77%, primarily due to the increase in operating revenue[21]. - The company's cash and cash equivalents increased to ¥487.36 million, representing 21.09% of total assets, up 71.53% from the previous period[42]. - Investment activities generated a net cash flow of -CNY 23.86 million, a significant improvement of 92.55% compared to the previous year[41]. - The financing activities generated a net cash inflow of CNY 165,849,652.39, down from CNY 285,188,353.48 in the previous year, indicating a shift in financing strategy[108]. Market and Industry - In the first half of 2017, the civil explosives industry achieved a total profit of 2.241 billion yuan, a year-on-year increase of 65.63%[28]. - The production value of civil explosive production enterprises reached 12.38 billion yuan, reflecting a year-on-year growth of 10.29%[28]. - The sales volume of industrial explosives reached 1.7632 million tons, an increase of 12.60% year-on-year[28]. - The company operates in a stable civil explosives market, with positive growth trends in key economic indicators compared to the previous year[28]. Shareholder and Governance - The company did not conduct profit distribution or capital reserve transfer to increase share capital during the reporting period[2]. - The 2016 annual shareholder meeting was attended by 119 shareholders, representing 121,628,728 shares, which is 40.52% of the total shares of 300,156,330[53]. - The meeting approved the 2016 annual report and financial budget for 2017, along with the profit distribution plan for 2016[53]. - The company has commitments from major shareholders to avoid engaging in competing businesses, ensuring no conflicts of interest arise[55]. - The company is focused on maintaining independent decision-making in shareholder meetings, ensuring no collusion among major shareholders[56]. Risk Management - There were no significant risks that materially affected the company's production and operation during the reporting period[4]. - The company has identified several risks, including industry development risks and market competition risks, and has outlined measures to mitigate these risks[49][50]. Corporate Social Responsibility - The company is committed to targeted donations and poverty alleviation efforts in 2017, focusing on financial and material support for impoverished areas in the province[64]. - A total of RMB 2.93 million was allocated for poverty alleviation efforts, with RMB 340,000 in material support and assistance provided to 3 registered impoverished individuals[67]. - The company provided financial assistance totaling RMB 11,300 to employees in need during the reporting period[65]. Investment and Capital Structure - The company raised CNY 423 million through a private placement to support mining project construction[34]. - The company completed a private placement of A-shares, raising a total of RMB 422.99 million, with a net amount of RMB 405.98 million after expenses[71]. - The company used RMB 227.71 million of the raised funds, including RMB 151 million for repaying bank loans and RMB 54.98 million for working capital[71]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[132]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial status, operating results, and cash flows of the entire corporate group[138]. - The company recognizes deferred tax assets or liabilities for temporary differences arising from internal sales losses in the consolidated balance sheet[141].

Financial Performance - The company achieved a net profit of ¥35,095,324.43 for the fiscal year 2016, with a statutory surplus reserve of ¥3,509,532.44 deducted[2]. - As of the end of 2016, the total distributable profit for shareholders was ¥192,390,662.32, with a cash dividend of ¥1 per 10 shares proposed, totaling ¥30,015,633.00[2]. - The company's operating revenue for 2016 was approximately ¥835.85 million, a decrease of 7.55% compared to ¥904.15 million in 2015[20]. - The net profit attributable to shareholders for 2016 was approximately ¥90.06 million, down 22.51% from ¥116.22 million in 2015[23]. - Basic earnings per share for 2016 were ¥0.34, a decrease of 22.73% from ¥0.44 in 2015[22]. - The weighted average return on equity decreased by 3.06 percentage points to 7.86% in 2016, down from 10.92% in 2015[22]. - The total assets at the end of 2016 were approximately ¥2.09 billion, an increase of 30.77% from ¥1.60 billion at the end of 2015[21]. - The net assets attributable to shareholders at the end of 2016 were approximately ¥1.24 billion, compared to ¥1.16 billion at the end of 2015[20]. - The company reported a financial expense of ¥11.54 million due to self-financed investments in mining auctions[23]. - The total operating cost was CNY 726.85 million, down 5.36% compared to the previous year[42]. - Net profit for the year was CNY 93.47 million, reflecting a decline of 21.00% year-on-year[42]. - The company achieved an operating income of 836 million yuan in 2016, falling short of the planned target of 960 million yuan[119]. - The net profit for 2016 was 93.47 million yuan, which was below the target of 100 million yuan[119]. Cash Flow and Dividends - The net cash flow from operating activities increased by 87.02% to approximately ¥223.10 million in 2016, compared to ¥119.29 million in 2015[24]. - The company plans to carry forward the remaining undistributed profit of ¥162,375,029.32 to the next year[2]. - The company plans to distribute cash dividends of 1 RMB per 10 shares for the fiscal year 2016, totaling 30,015,633 RMB, with retained earnings of 162,375,029.32 RMB carried forward to the next year[135]. - The cash dividend policy for 2016-2018 stipulates that annual cash distributions should not be less than 10% of the distributable profits, with a cumulative distribution of at least 30% over the three years[133]. Operational Efficiency and Risk Management - The company completed the "three certificates in one" registration process in May 2016, enhancing operational efficiency[6]. - The audit report issued by Huapu Tianjian Certified Public Accountants confirmed the accuracy of the financial statements with a standard unqualified opinion[4]. - The company reported no significant risks that could materially affect its operations during the reporting period[5]. - The company has outlined various risks and countermeasures in its report, indicating a proactive approach to risk management[5]. - The company plans to enhance cash collection efforts, which contributed to the increase in cash flow from operating activities[24]. - The company has seen a significant increase in other current assets, which rose by 220.80% to $62.76 million, now 3.00% of total assets, due to increased purchases of bank wealth management products[58]. - The company emphasizes cost control and aims to establish a scientific cost management system to mitigate risks[128]. Market and Industry Trends - The company faced a decline in sales volume and prices of civil explosive products, impacting revenue and profit margins significantly[23]. - The civil explosive industry is closely tied to national economic conditions, with demand expected to rise due to ongoing infrastructure investments[32]. - The company is focusing on expanding its market presence and enhancing safety management in the explosive materials industry, as indicated by recent regulatory changes[60]. - The company aims to stabilize and expand its existing market share while increasing penetration in underrepresented regions such as Inner Mongolia and Zhejiang[129]. - The company is shifting its operational focus towards blasting services to counteract market shrinkage and increased competition in the civil explosives sector[131]. Investments and Subsidiaries - The company has a controlling shareholder, Huai Mining Group, holding 31.26% of the shares[10]. - The company has multiple subsidiaries, including Leiming Shuangshi and Leiming Hongxing, with ownership stakes of 55% and 51% respectively[10]. - The company’s long-term equity investments increased by 127.28% to ¥600,700,220.58, primarily due to investments in joint ventures[34]. - The company’s intangible assets surged by 275.82% to ¥581,422,309.29, mainly from the acquisition of mining resource extraction rights[34]. - The company invested 435 million yuan in Anhui Leiming Mining Co., Ltd., acquiring 100% of the registered capital of 10 million yuan[109]. - The subsidiary Jingzhou Minexplosion invested 6.10 million yuan to acquire 70% equity in Jingzhou Baguyuan Rock Material Co., Ltd., which has a registered capital of 6 million yuan[109]. - The subsidiary Leiming Blasting Company invested 33 million yuan to establish Huaibei Tongming Mining Co., Ltd., holding 33% of the registered capital of 100 million yuan[109]. Governance and Management - The company has established a comprehensive governance structure to protect the rights of shareholders, particularly minority shareholders, in compliance with relevant laws and regulations[157]. - The total number of ordinary shareholders increased from 13,214 to 15,851 during the reporting period, indicating a growth in shareholder engagement[165]. - The company has a diverse board with members holding various positions in the Huabei Mining Group, ensuring strong oversight and management[180]. - The company continues to maintain a strong governance structure with various committees overseeing strategic, audit, and compensation matters[180]. - The company has committed to strengthening control over subsidiaries and improving governance structures to mitigate management risks associated with acquisitions[130]. Future Outlook and Strategic Goals - The company plans to focus on "safety production, market expansion, quality management, and cost control" as part of its strategic goals[118]. - The company aims to transition from traditional product sales to integrated blasting services, reflecting a shift in industry trends[116]. - In 2017, the company aims to produce and sell 70,000 tons of explosives, 28 million detonators, and 6 million tons of construction aggregates[120]. - The revenue target for 2017 is set at 1 billion CNY, with a total profit of 150 million CNY and a net profit of 123 million CNY[120]. - The company plans to increase explosive sales by 5% and detonator sales by over 10% in 2017[123]. - The company is exploring new operational models and strategic partnerships to expand its mining resources[127].

Financial Performance - Net profit attributable to shareholders was CNY 13,484,798.19, representing a decrease of 8.32% year-on-year[5] - Operating revenue increased to CNY 186,010,465.27, reflecting a growth of 9.15% compared to the same period last year[5] - Basic and diluted earnings per share were both CNY 0.05, down 16.67% from the previous year[5] - The company's operating profit for Q1 2017 was CNY 16,343,346.92, down from CNY 18,492,577.53 in the previous year, a decrease of 11.6%[25] - The net profit for Q1 2017 was CNY 1,206,690.78, up 96.8% from CNY 611,756.62 in Q1 2016[28] - The total comprehensive income attributable to the parent company was CNY 13,484,798.19, down from CNY 14,707,890.64 in the previous year[26] Cash Flow - Net cash flow from operating activities reached CNY 9,308,343.19, a significant increase of 262.29% year-on-year[5] - The net cash flow from operating activities was CNY 9,308,343.19, a significant improvement from a net outflow of CNY 5,735,616.00 in Q1 2016[30] - The company reported a net cash outflow from investing activities of CNY 3,917,805.08, an improvement from a net outflow of CNY 283,674,830.17 in the previous year[30] - Cash inflow from financing activities was CNY 56,560,000.00, down from CNY 300,000,000.00 in Q1 2016[30] - Net cash flow from financing activities was -$54,340,572.22, contrasting with a positive cash flow of $296,907,163.89 in the same quarter last year[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,061,044,681.03, a decrease of 1.54% compared to the end of the previous year[5] - The company's total assets as of March 31, 2017, amounted to CNY 1,453,799,445.84, down from CNY 1,537,389,341.45 at the beginning of the year[21] - Total liabilities decreased to CNY 497,482,804.07 from CNY 582,601,852.64 at the start of the year, indicating a reduction of approximately 14.6%[22] - Current assets totaled CNY 263,031,854.63, down from CNY 344,784,940.27, representing a decline of 23.7%[21] - Accounts receivable decreased by 39.76% to ¥51,857,703.57 from ¥86,081,254.38 due to the maturity of notes and payments made with notes[11] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,214[9] - The largest shareholder, Huai Bei Mining Group, held 31.26% of the shares, with 82,155,692 shares pledged[9] Investment and Financial Activities - Investment income surged by 1,647.22% to ¥873,607.88 from ¥50,000.00, mainly from investments in Jingzhou Rural Commercial Bank[12] - Financial expenses rose by 155.37% to ¥3,715,174.30 from ¥1,454,826.25, primarily due to interest payments on loans[12] - The company received government compensation of CNY 1,642,591.74 related to its normal business operations[6] - The company received approval for a non-public stock issuance, increasing its share capital by 37,301,586 shares[12] Operational Costs - Total operating costs for Q1 2017 were CNY 170,540,726.23, up 12.2% from CNY 151,982,402.12 in Q1 2016[24] - The company's operating costs increased to CNY 34,447,125.54, up 16.5% from CNY 29,678,266.36 in the same period last year[27]

2016 年第三季度报告 公司代码：600985 公司简称：雷鸣科化 安徽雷鸣科化股份有限公司 2016 年第三季度报告 1 / 22 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司主要财务数据和股东变化 3 | | 三、 | 重要事项 6 | | 四、 | 附录 10 | 2016 年第三季度报告 一、 重要提示 | 项目 | | 本期金额 年初至报告期末 | | 说明 | | --- | --- | --- | --- | --- | | | （7－9 | 月） | 金额（1-9 月） | | | 非流动资产处置损益 | | -248,943.34 | -422,156.62 | | 3 / 22 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人张治海、主管会计工作负责人阮建东及会计机构负责人（会计主管人员）赵莉保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 201 ...

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 381,431,428.14, a decrease of 8.90% compared to CNY 418,695,328.90 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2016 was CNY 55,477,564.83, an increase of 19.23% from CNY 46,529,328.07 in the previous year[20]. - The net cash flow from operating activities increased by 28.59%, reaching CNY 55,336,148.97 compared to CNY 43,032,224.73 in the same period last year[21]. - Basic earnings per share for the first half of 2016 were CNY 0.21, up 16.67% from CNY 0.18 in the same period last year[22]. - The weighted average return on equity increased by 0.40 percentage points to 4.68% compared to 4.28% in the previous year[22]. - The company reported a significant profit increase primarily due to the rapid development of its subsidiary, Leiming Explosives[22]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,991,712,836.04, reflecting a 24.43% increase from CNY 1,600,721,211.18 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 3.93%, amounting to CNY 1,204,567,498.39 compared to CNY 1,158,977,891.40 at the end of the previous year[21]. - The company's asset-liability ratio is expected to improve following the completion of the private placement, enhancing its financial stability[29]. - Total current assets increased to 696,700,253.97 RMB from 600,564,455.79 RMB, reflecting a growth of approximately 15.98%[90]. - Current liabilities rose to CNY 452,786,317.13, compared to CNY 307,281,483.55, marking an increase of approximately 47.3%[92]. Capital and Financing - A private placement was initiated to raise 423 million yuan, aimed at repaying bank loans and funding mining operations[29]. - The company is awaiting regulatory approval for its adjusted private placement plan after submitting necessary documentation to the China Securities Regulatory Commission[35]. - The company completed a non-public offering of 47,528,100 shares, raising 423 million yuan, primarily for repaying bank loans, mining construction, and supplementing working capital[64]. - The funds raised will help reduce the company's asset-liability ratio and financial costs, promoting rapid business development and enhancing overall profitability and core competitiveness[65]. Revenue Breakdown - The main business revenue decreased by 8.85% compared to the same period last year, with the revenue from the western region down by 12.79% and the main headquarters down by 18.16%[39]. - The revenue from civil explosive products was 292.29 million RMB, with a gross margin of 44.94%, a decrease of 15.87% year-on-year[38]. - The blasting engineering segment generated revenue of 78.71 million RMB, with a gross margin of 46.06%, an increase of 33.38% year-on-year[38]. Corporate Governance and Shareholder Matters - The company is actively enhancing its corporate governance structure to ensure compliance with laws and regulations[71]. - The company has established various board committees to oversee strategic decisions and internal audits[72]. - The company is implementing a three-year shareholder return plan (2016-2018) in compliance with relevant regulations[71]. - The controlling shareholder, Huai Mining Group, committed not to reduce its holdings in the company for six months to stabilize the stock price[68]. Operational Plans and Strategies - The company plans to strengthen safety production, market expansion, product quality, and cost control in the second half of the year[30]. - The company plans to focus on "safety production, market development, quality management, and cost control" in the second half of 2016 to enhance competitiveness and economic efficiency[36]. Accounting and Financial Reporting - The financial statements comply with the enterprise accounting standards, accurately reflecting the company's financial status and operating results[128]. - The company has established a comprehensive consolidation method for financial reporting, treating the entire corporate group as a single accounting entity[133]. - The company recognizes deferred tax assets or liabilities in the consolidated balance sheet due to temporary differences arising from unrealized internal sales profits[136]. Employee Benefits and Provisions - The present value of defined benefit plan obligations is determined using actuarial assumptions, with liabilities discounted based on market yields of high-quality corporate bonds[195]. - Changes in the net liability or asset of the defined benefit plan are directly recorded in other comprehensive income and cannot be reclassified to profit or loss in subsequent periods[196]. - Provisions are recognized when there is a present obligation that is likely to result in an outflow of economic benefits and can be reliably measured[199].

Financial Performance - Net profit attributable to shareholders decreased by 15.70% to CNY 14,707,890.64 year-on-year[8] - Operating revenue declined by 3.82% to CNY 170,424,979.65 compared to the same period last year[8] - Basic earnings per share dropped by 40.00% to CNY 0.06 per share[8] - The company reported a 64.06% decrease in non-operating income to 352,216.95, primarily due to a government subsidy of 750,000 received in the same period last year[15] - Total operating revenue for Q1 2016 was CNY 170,424,979.65, a decrease of 3.3% from CNY 177,189,660.40 in the previous period[32] - Net profit for Q1 2016 was CNY 13,093,849.41, a decline of 19.8% compared to CNY 16,241,566.74 in the same period last year[33] - Total comprehensive income for Q1 2016 was CNY 611,756.62, down from CNY 987,750.67 in the previous year, indicating a decline of approximately 38%[35] Cash Flow - The net cash flow from operating activities improved by 67.46%, reaching CNY -5,735,616.00[8] - The company's net cash flow from operating activities decreased by 67.46% to -5,735,616.00, primarily due to a reduction in sales revenue and increased payment for goods and services[16] - Cash inflow from operating activities was CNY 184,553,124.87, a decrease of 6% compared to CNY 197,356,401.17 in the same period last year[36] - Net cash flow from operating activities was negative CNY 5,735,616.00, an improvement from negative CNY 17,625,645.35 in Q1 2015[35] - Cash inflow from investment activities totaled CNY 30,592,114.43, significantly higher than CNY 2,028,254.55 in Q1 2015[36] - Net cash flow from investment activities was negative CNY 283,674,830.17, worsening from negative CNY 12,542,705.85 in the same period last year[36] - Cash inflow from financing activities was CNY 300,000,000.00, with a net cash flow of CNY 296,475,480.07, compared to a net outflow of CNY 407,215.25 in Q1 2015[36] - The company reported a net cash increase of CNY 7,065,033.90 during the quarter, contrasting with a decrease of CNY 30,575,566.45 in the same period last year[36] Assets and Liabilities - Total assets increased by 22.85% to CNY 1,966,423,633.28 compared to the end of the previous year[8] - Current assets totaled ¥666,746,047.92, an increase of 11% from ¥600,564,455.79 at the start of the year[24] - Total liabilities amounted to CNY 530,665,622.47, compared to CNY 213,319,896.00 in the previous period[30] - Current liabilities rose to ¥459,560,667.10, an increase of 49.4% from ¥307,281,483.55 at the beginning of the year[26] - Non-current liabilities increased significantly to ¥233,901,659.55, compared to ¥34,131,401.02 at the start of the year, indicating a growth of over 585%[26] - Total equity reached ¥1,272,961,306.63, up from ¥1,259,308,326.61, showing a modest increase of 1.1%[26] Shareholder Information - The total number of shareholders reached 19,946 at the end of the reporting period[12] - The largest shareholder, Huai Bei Mining Group, holds 31.26% of the shares, totaling 82,155,692 shares[13] - The company has committed to not reducing its shareholding in the secondary market for six months to stabilize stock prices[19] Investments and Projects - Construction in progress increased by 48.79% to CNY 36,609,241.56, mainly due to new projects by the subsidiary[14] - Government subsidies recognized in the current period amounted to CNY 205,370.90, primarily related to a boiler renovation project[7] - Other non-current assets increased by 222.22% to 435,000,000.00, primarily due to the acquisition of mining rights worth 300 million[15] - Short-term borrowings increased by 500.00% to 120,000,000.00, reflecting a rise of 100 million in short-term loans[15] - The company plans to issue non-public shares, with the stock being suspended from trading since March 28, 2016, for a period not exceeding 10 trading days[17] Financial Ratios - The weighted average return on net assets decreased by 0.31 percentage points to 1.32%[8] - Financial expenses rose by 585.35% to 1,454,826.25, mainly due to interest expenses from loans amounting to 1,092,300.00[15] - The company recorded investment income of CNY 50,000.00, down from CNY 256,657.53 in the previous period[33]