Financial Performance - The company's operating revenue for Q1 2023 was CNY 6,733,039,464.58, representing a year-on-year increase of 3.35%[4] - The net profit attributable to shareholders decreased by 32.13% to CNY 1,185,215,468.67 compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses also fell by 32.14% to CNY 1,279,926,515.69[4] - The basic and diluted earnings per share were both CNY 0.16, down 33.33% year-on-year[4] - Total operating revenue for Q1 2023 reached ¥6,733,039,464.58, an increase of 3.37% compared to ¥6,514,555,802.12 in Q1 2022[14] - Net profit for Q1 2023 was ¥1,185,215,468.67, a decrease of 32.2% from ¥1,746,282,451.53 in Q1 2022[14] - Basic and diluted earnings per share for Q1 2023 were both ¥0.16, down from ¥0.24 in Q1 2022[14] Cash Flow - The net cash flow from operating activities increased by 39.52% to CNY 1,928,852,485.43, driven by increased bank collections from product sales[4][7] - The net cash flow from operating activities for Q1 2023 was CNY 1,928,852,485.43, an increase of 39.5% compared to CNY 1,382,505,801.79 in Q1 2022[15] - Cash inflow from sales of goods and services reached CNY 6,708,595,402.64, up from CNY 5,222,309,439.56, representing a growth of 28.5% year-over-year[15] - The ending balance of cash and cash equivalents was CNY 2,160,538,335.88, compared to CNY 1,330,466,710.31 at the end of Q1 2022, reflecting a year-over-year increase of 62.2%[15] - The company received CNY 3,650,000,000.00 in loans during the quarter, up from CNY 1,960,000,000.00 in Q1 2022[15] - The cash paid for purchasing goods and services was CNY 3,810,592,913.01, an increase from CNY 2,601,733,276.10 in the previous year[15] - The company reported a decrease in tax payments, totaling CNY 478,548,824.86, down from CNY 750,093,611.54 in Q1 2022[15] Assets and Liabilities - Total assets at the end of the reporting period were CNY 62,115,507,020.28, an increase of 7.88% from the end of the previous year[5] - Total assets increased to ¥62,115,507,020.28 as of March 31, 2023, from ¥57,578,314,322.10 at the end of 2022[12] - Total liabilities rose to ¥27,044,213,716.88, up from ¥23,703,680,350.42 at the end of 2022[12] - Long-term borrowings increased to ¥14,349,600,000.00 in Q1 2023, compared to ¥10,911,600,000.00 in Q1 2022[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 84,955[8] - The largest shareholder, Ningxia Baofeng Group Co., Ltd., held 35.57% of the shares, amounting to 2,608,470,063 shares[8] Non-Recurring Items - The company reported non-recurring losses totaling CNY 94,711,047.02, primarily due to asset disposal losses and other non-operating income[6] Research and Development - Research and development expenses for Q1 2023 were ¥29,366,141.64, an increase from ¥22,601,329.02 in Q1 2022[14] Investment Income - The company reported an investment income of ¥8,812,199.73 in Q1 2023, compared to no investment income in Q1 2022[14] Operating Costs - Total operating costs for Q1 2023 were ¥5,241,224,288.22, up 21.5% from ¥4,311,158,420.88 in Q1 2022[14]

证券代码：600989 证券简称：宝丰能源 公告编号：2023-017 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。 宁夏宝丰能源集团股份有限公司 2022 年度业绩说明会预告公告 重要内容提示： 投资者可于 2023 年 4 月 3 日(星期一)至 4 月 6 日(星期四)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 bfny@baofengenergy.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。 宁夏宝丰能源集团股份有限公司（以下简称"公司"）已于 2023 年 3 月 10 日发布公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年度 经营成果、财务状况及未来发展战略，公司计划于 2023 年 4 月 7 日下午 15:00- 16:00 举行 2022 年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以视频结合网络互动召开，公司将针对 2022 年度经 ...

Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.40 CNY per 10 shares, totaling 1,023,934,309 CNY for the year 2022, with a total cash dividend distribution of 2,047,878,551 CNY including the interim dividend[3]. - The total number of shares for the dividend calculation is 7,313,816,494 shares after deducting repurchased shares[3]. - The total cash dividend amount (including tax) is RMB 2,047,878,551, which accounts for 32.49% of the net profit attributable to ordinary shareholders of the listed company in the consolidated financial statements[133]. - The net profit attributable to ordinary shareholders of the listed company in the consolidated financial statements is RMB 6,302,502,368[133]. Financial Performance - The company's operating revenue for 2022 was approximately ¥28.43 billion, representing a 22.02% increase compared to ¥23.30 billion in 2021[18]. - The net profit attributable to shareholders for 2022 was approximately ¥6.30 billion, a decrease of 10.86% from ¥7.07 billion in 2021[18]. - The net cash flow from operating activities for 2022 was approximately ¥6.63 billion, showing a slight increase of 2.13% from ¥6.49 billion in 2021[18]. - The total assets at the end of 2022 reached approximately ¥57.58 billion, marking a significant increase of 29.76% from ¥44.37 billion at the end of 2021[18]. - The basic earnings per share for 2022 was ¥0.86, down 11.34% from ¥0.97 in 2021[19]. - The company achieved a weighted average return on equity of 19.57% in 2022, a decrease of 5.76 percentage points from 25.33% in 2021[19]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[2]. - The board of directors and supervisory board members have all attended the board meeting, ensuring the report's authenticity and completeness[2]. - The company has maintained effective internal control over financial reporting without any significant deficiencies throughout the year[137]. - The company has received a standard unqualified opinion in the internal control audit report for 2022 from Ernst & Young Hua Ming[139]. Operational Developments - The company is investing in a 600,000 tons/year olefin project funded by raised capital, which includes a 2.2 million tons/year methanol facility and a 60,000 tons/year olefin unit[11]. - The company has commenced construction on a 500,000 tons/year coal-to-olefin project, which includes a 250,000 tons/year EVA facility[11]. - The Inner Mongolia olefin project has a capacity of 2.6 million tons/year for coal-to-olefin production and a 400,000 tons/year green hydrogen coupling project[11]. - The company is focused on developing new technologies in methanol-to-olefin (MTO) processes, enhancing production efficiency[11]. Research and Development - The company invested CNY 150.85 million in R&D, a 14% increase year-on-year, and developed 5 new grades of polyolefin products[29]. - The company added 49 new authorized patents in 2022, bringing the total to 157[29]. - The company has a total of 12,578 production personnel, 1,464 technical personnel, and 409 financial personnel[126]. Environmental and Social Responsibility - The company has committed to achieving a 50% reduction in carbon emissions within 10 years and aims for carbon neutrality within 20 years, contributing to national carbon neutrality goals[152]. - The company has invested 177,771.78 million RMB in environmental protection during the reporting period[141]. - The company has actively engaged in social responsibility initiatives, particularly in education, to support local communities and promote sustainable development[154]. - The company has established emergency response plans for environmental incidents and conducted training and drills to ensure preparedness[145]. Corporate Governance - The company has implemented a robust corporate governance structure in compliance with relevant laws and regulations, enhancing investor relations[100]. - The company’s board of directors operates independently and adheres to legal requirements, ensuring prudent decision-making[103]. - The company’s supervisory board actively monitors financial reports and the performance of directors and senior management to protect shareholder interests[104]. Market Position and Strategy - The company is positioned as one of the leading enterprises in the coal-to-olefins industry, with a comprehensive product range and strong market presence[71]. - The company aims to enhance its innovation capabilities by focusing on high-performance, specialized polypropylene products and expanding into high-end fine chemicals through acquisitions[93]. - The company plans to expand its market presence by entering two new provinces, aiming for a 10% market share in these regions within the next two years[110]. Risk Management - The company plans to implement risk management strategies to mitigate legal, policy, technical, market, and management risks, ensuring stable development[95]. - The company has established a comprehensive safety production management system to mitigate risks associated with chemical production and coal mining[98]. Shareholder Information - The total number of ordinary shareholders increased to 109,196 by the end of the reporting period, up from 86,437 at the end of the previous month[191]. - The largest shareholder, Ningxia Baofeng Group Co., Ltd., holds 2,608,470,063 shares, representing 35.57% of the total shares[192]. - The second largest shareholder, Dongyi International Group Co., Ltd., holds 2,000,000,000 shares, accounting for 27.27%[192].

Financial Performance - Operating revenue for Q3 2022 reached ¥7,090,045,985.11, an increase of 23.76% year-on-year, while year-to-date revenue was ¥21,485,038,239.30, up 32.66% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2022 was ¥1,357,884,852.99, a decrease of 14.31% year-on-year, with year-to-date net profit at ¥5,372,626,477.00, reflecting a slight increase of 1.02%[2] - The basic earnings per share for Q3 2022 was ¥0.18, down 18.18% compared to the same period last year, while diluted earnings per share also stood at ¥0.18[3] - Total operating revenue for the first three quarters of 2022 reached RMB 21,485,038,239.30, a 32.5% increase from RMB 16,195,816,084.66 in the same period of 2021[12] - Net profit attributable to shareholders of the parent company was RMB 5,372,626,477.00, slightly up from RMB 5,318,129,128.95, reflecting a growth of 1.0% year-over-year[12] - Operating profit for the first three quarters was RMB 6,618,390,448.40, compared to RMB 6,428,040,391.92 in the previous year, indicating an increase of 3.0%[12] Assets and Liabilities - Total assets as of the end of Q3 2022 were ¥54,535,474,103.77, representing a 22.90% increase from the end of the previous year[3] - As of September 30, 2022, the total assets of the company reached CNY 54.54 billion, an increase from CNY 44.37 billion at the end of 2021, representing a growth of approximately 23.4%[9] - Total current liabilities increased to CNY 9.30 billion from CNY 7.98 billion, reflecting a rise of 16.5%[10] - The company's total equity reached CNY 33.96 billion, compared to CNY 30.69 billion in the previous year, marking an increase of 10.4%[10] - The company’s equity attributable to shareholders increased to ¥33,960,760,884.46, a rise of 10.66% compared to the end of the previous year[3] Cash Flow and Financing - The company’s cash flow from operating activities for the year-to-date was ¥4,848,511,728.56, reflecting a decrease of 6.68% compared to the previous year[3] - The cash and cash equivalents at the end of the period stood at RMB 2,400,822,645.24, up from RMB 1,300,513,836.59, reflecting improved liquidity[13] - The company reported a significant increase in cash received from sales and services, totaling RMB 18,900,073,900.43, compared to RMB 13,599,964,984.53 in the previous year, marking a 38.5% increase[13] - The company raised RMB 8,660,000,000.00 through borrowings, a significant increase from RMB 1,260,000,000.00 in the previous year, indicating a strong financing activity[13] Operational Challenges - The company experienced a decline in operational performance in Q3 2022 due to a 26-day maintenance period in September, affecting methanol production by approximately 220,000 tons and polyolefin production by about 54,000 tons, leading to a revenue impact of approximately ¥453 million[5] - Non-recurring losses totaled ¥110,943,159.44 for Q3 2022, with significant contributions from asset disposal losses and other non-recurring items[4] Shareholder Information - The company’s major shareholder, Ningxia Baofeng Group Co., Ltd., holds 35.57% of the shares, while Dongyi International Group Limited holds 27.27%[6] - The top ten shareholders hold a total of 120.91 million shares, representing a significant portion of the company's equity[7] Research and Development - Research and development expenses were RMB 134,523,676.96, slightly up from RMB 133,302,161.87, indicating a focus on innovation[12] Inventory and Receivables - The inventory value as of September 30, 2022, was CNY 1.04 billion, compared to CNY 940.39 million at the end of 2021, showing an increase of 11.2%[9] - The company’s accounts receivable rose to CNY 74.75 million from CNY 38.33 million, representing an increase of 95.0%[9] Borrowings - The company reported a significant increase in short-term borrowings, totaling CNY 200.21 million, compared to no short-term borrowings in the previous year[10] - The company’s long-term borrowings surged to CNY 10.00 billion from CNY 4.36 billion, indicating a growth of 129.9%[10] Cost Management - The company incurred total operating costs of RMB 14,790,549,528.28, which is a 51.5% increase from RMB 9,758,339,981.36 in the same period last year[12] - The company reported a decrease in financial expenses, with interest expenses at RMB 107,357,983.45, down from RMB 128,690,958.01, showing effective cost management[12]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥14.39 billion, a 37.53% increase compared to ¥10.47 billion in the same period last year[17]. - The net profit attributable to shareholders was ¥4.01 billion, reflecting a 7.53% increase from ¥3.73 billion year-on-year[17]. - The net cash flow from operating activities was ¥3.99 billion, up 13.67% from ¥3.52 billion in the previous year[17]. - The total assets at the end of the reporting period amounted to ¥51.48 billion, a 16.01% increase from ¥44.37 billion at the end of the previous year[17]. - The net assets attributable to shareholders increased to ¥32.63 billion, representing a 6.32% growth from ¥30.69 billion at the end of the previous year[17]. - Basic earnings per share for the first half of 2022 were ¥0.55, up 7.84% from ¥0.51 in the same period last year[18]. - The weighted average return on net assets was 12.68%, a decrease of 1.14 percentage points compared to the previous year[18]. - The company reported a total non-recurring loss of ¥263.09 million, primarily due to various non-operating income and expenses[19]. Risk Management - The company faces various risks as outlined in the report, which may impact future performance[4]. - The management emphasizes the importance of risk management in navigating potential challenges in the market[4]. - The management has indicated that future plans and development strategies are subject to uncertainties and do not constitute substantial commitments to investors[4]. Investments and Projects - The company is actively investing in projects such as the 600,000 tons/year olefin project funded by raised capital, which includes a methanol production facility[17]. - The company continues to focus on expanding its coal-based materials projects in Inner Mongolia, with a demonstration project of 4×1 million tons/year of coal-to-olefins[17]. - The company has completed the preliminary construction and preparation for the Inner Mongolia 4 million tons/year coal-to-olefins project, which is awaiting environmental approval to commence construction[47]. - The third-phase 1 million tons/year coal-to-olefins and C2-C5 comprehensive utilization project is progressing smoothly, with the methanol project expected to be ready for trial operation by the end of 2022[47]. Environmental Compliance - All production projects have obtained the necessary pollution discharge permits as required by environmental regulations[53]. - All environmental protection facilities of the company are operating normally as of June 2022, including a 550m³/h wastewater treatment facility and a 650m³/h facility, both using A2/O technology[54]. - The company has implemented a comprehensive safety production management system to mitigate risks associated with chemical production and coal mining[49]. - The company is actively promoting green production and has established a carbon reduction working group, aiming to achieve peak carbon emissions by 2025 and carbon neutrality by 2040[60]. Shareholder and Capital Structure - The company has not disclosed any significant changes in shareholder structure or share capital during the reporting period[4]. - The largest shareholder, Ningxia Baofeng Group Co., Ltd., holds 2,608,470,063 shares, accounting for 35.57% of total shares[78]. - The company has increased its registered capital from 100 million to 217 million yuan, with specific contributions from its shareholders documented[63]. - The company has committed to timely and strict compliance with social insurance and housing fund payments for its employees, agreeing to cover any penalties or losses incurred due to non-compliance[63]. Financial Health and Liquidity - The company's overall financial health is reflected in the significant increase in cash reserves and the management of accounts receivable, indicating effective liquidity management[184]. - Cash and cash equivalents increased by RMB 180,869.76 million or 124.68% year-on-year, primarily due to new bank borrowings for project funding[44]. - The company reported a significant increase in sales expenses, which amounted to ¥33.01 million, compared to ¥249.29 million in the previous year[86]. - The company raised ¥6.46 billion through borrowings, a substantial increase from ¥1.26 billion in the previous year[88]. Compliance and Governance - The board of directors confirmed the authenticity, accuracy, and completeness of the financial report, with no significant omissions or misleading statements[2]. - The company has confirmed that it will not engage in any illegal financing activities, including issuing financing bills, and will bear full responsibility for any violations that occur[62]. - The company has committed to avoid and reduce related party transactions, ensuring compliance with legal regulations and fair pricing standards[65]. Research and Development - Research and development expenses increased by 41.8% year-on-year, totaling RMB 90.61 million in the first half of 2022[36]. - The company developed four new polyolefin product grades, including PP HP500L and LLDPE 9047H, with the latter being an export-customized product[37].

Financial Performance - The company's operating revenue for Q1 2022 was ¥6,514,555,802.12, representing a year-on-year increase of 30.83%[2] - The net profit attributable to shareholders for the same period was ¥1,746,282,451.53, showing a slight increase of 1.07% compared to the previous year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,886,053,316.22, which is an increase of 4.82% year-on-year[2] - The basic and diluted earnings per share for the period were both ¥0.24, unchanged from the previous year[2] - Net profit for Q1 2022 was ¥1,746,282,451.53, slightly up from ¥1,727,879,711.46 in Q1 2021, reflecting a growth of 1.1%[11] - Earnings per share remained stable at ¥0.24 for both Q1 2022 and Q1 2021[11] Assets and Liabilities - Total assets at the end of the reporting period were ¥46,800,095,189.04, up 5.47% from the end of the previous year[3] - Total assets increased to ¥46,800,095,189.04 as of March 31, 2022, compared to ¥44,373,765,410.12 at the end of 2021, marking a growth of 5.5%[10] - Current assets totaled ¥4,039,717,145.00, up from ¥3,331,288,366.97, indicating a 21.2% increase[10] - The company reported a total liability of ¥14,378,139,509.45, an increase from ¥13,683,800,846.26, representing a growth of 5.1%[10] - Total non-current assets rose to ¥42,760,378,044.04, compared to ¥41,042,477,043.15, reflecting a growth of 4.2%[10] Shareholder Information - The company reported a total of 129,331 common shareholders at the end of the reporting period[6] - The largest shareholder, Ningxia Baofeng Group Co., Ltd., holds 35.57% of the shares[6] - Shareholders' equity attributable to the parent company increased by 5.64% to ¥32,421,955,679.59[3] Cash Flow - The net cash flow from operating activities decreased by 17.53% to ¥1,382,505,801.79[2] - The net cash flow from operating activities for Q1 2022 was ¥1,382,505,801.79, a decrease of 17.6% compared to ¥1,676,416,263.57 in Q1 2021[12] - Cash inflow from sales and services received was ¥5,222,309,439.56, up 27.7% from ¥4,090,015,860.73 in the same period last year[12] - Total cash outflow from operating activities was ¥3,873,689,414.47, an increase of 59.0% compared to ¥2,439,414,045.72 in Q1 2021[12] - Cash outflow for purchasing goods and services was ¥2,601,733,276.10, which rose significantly from ¥1,481,357,030.53 in the previous year[12] - Cash flow from financing activities generated a net inflow of ¥546,016,093.31, compared to ¥248,848,740.12 in Q1 2021, marking a 119.5% increase[12] - The company raised ¥1,960,000,000.00 from borrowings, which is an increase from ¥1,080,000,000.00 in the same quarter last year[12] - The cash and cash equivalents at the end of Q1 2022 amounted to ¥1,330,466,710.31, down from ¥3,619,801,953.56 at the end of Q1 2021[12] - The total cash outflow for investment activities was ¥1,921,182,209.19, an increase from ¥1,327,981,531.26 in Q1 2021[12] - The net increase in cash and cash equivalents for the quarter was ¥6,639,629.47, compared to an increase of ¥593,893,676.96 in Q1 2021[12] Research and Development - Research and development expenses for Q1 2022 were ¥22,601,329.02, down from ¥24,214,623.25 in Q1 2021, a decrease of 6.7%[11] Non-Recurring Items - The company recorded non-recurring losses totaling ¥139,770,864.69, primarily due to donation expenses of ¥175,000,000.00[4] - The company experienced a foreign exchange loss of ¥700,056.44, compared to a loss of ¥3,389,795.47 in the previous year[12]

Financial Performance - The company's operating revenue for 2021 was approximately ¥23.30 billion, a 46.29% increase from ¥15.93 billion in 2020[13]. - The net profit attributable to shareholders for 2021 was approximately ¥7.07 billion, reflecting a 52.95% increase from ¥4.62 billion in 2020[13]. - The net cash flow from operating activities for 2021 was approximately ¥6.49 billion, up 25.16% from ¥5.18 billion in 2020[13]. - The total assets at the end of 2021 were approximately ¥44.37 billion, a 16.45% increase from ¥38.10 billion at the end of 2020[13]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥30.69 billion, an 18.49% increase from ¥25.90 billion at the end of 2020[13]. - The weighted average return on equity increased to 25.33% in 2021, up 6.29 percentage points from 2020[14]. - The basic earnings per share rose to 0.97 yuan, reflecting a growth of 53.97% compared to 2020[14]. - The total operating revenue for the company reached RMB 2,329,993.53 million, a year-on-year increase of 46.29%[38]. - The total profit reached RMB 812,071.41 million, growing by 54.72% compared to the previous year[38]. - The net profit attributable to shareholders was RMB 707,042.59 million, reflecting a 52.95% increase year-on-year[38]. Investment and Projects - The company plans to invest in a new project with a capacity of 600,000 tons/year for olefins production from coke gasification[6]. - The company has commenced construction on a 500,000 tons/year coal-to-olefins project, which includes a 250,000 tons/year EVA facility[6]. - The company has initiated a green hydrogen project with a planned capacity of 240 million standard cubic meters per year, aiming for a 50% carbon reduction in 10 years and carbon neutrality in 20 years[25]. - The company plans to accelerate the construction of a 3 million tons/year coal coking multi-production project and aims to complete the environmental assessment for a 4 million tons/year coal-based olefins project in Inner Mongolia[88]. - The company invested 21.14 billion RMB in the third-phase olefin project, expected to be completed in the first half of 2023[69]. Research and Development - R&D investment grew by 32.48% year-on-year, leading to the development of new high-end products and a product library of 15 products with over 20 formulations[23]. - Research and development expenses increased by 32.48% to RMB 132,538.54 million, highlighting the company's focus on new product development[41]. - The company invested 133 million yuan in R&D during the reporting period, focusing on new products such as metallocene polyolefins and high-strength metallurgical coke[67]. Environmental and Social Responsibility - The company has established a charitable foundation focusing on educational poverty alleviation, providing annual support of 4,000 CNY per student for those entering higher education[142]. - The company has committed to supporting all full-time higher education students from impoverished backgrounds across the Ningxia region[142]. - The company aims to achieve carbon peak by 2025 and carbon neutrality by 2040, with a goal to reduce carbon emissions by 50% in 10 years[141]. - The new hydrogen project is expected to reduce coal consumption by approximately 380,000 tons and CO2 emissions by about 660,000 tons annually[141]. Governance and Management - The company has a well-structured governance framework, including specialized committees to ensure efficient decision-making and oversight[95]. - The supervisory board conducts thorough checks on financial reports and monitors the performance of directors and senior management to protect shareholder interests[96]. - The board of directors operates independently and adheres to legal regulations, ensuring that all major decisions are made in compliance with shareholder rights[94]. - The company has a structured compensation policy aimed at attracting, retaining, and developing talent[119]. Shareholder Information - The total number of shares held by directors and senior management increased from 552,027,900 at the beginning of the year to 572,117,900 at the end of the year, reflecting an increase of 20,090,000 shares[101]. - The largest shareholder, Ningxia Baofeng Group, holds 2,608,470,063 shares, representing 35.57% of total shares, with a decrease of 32,823,300 shares during the reporting period[170]. - The total number of shares held by the top ten unrestricted shareholders represents a significant portion of the company's equity, impacting market dynamics[172]. Financial Stability - The company maintained a healthy asset-liability ratio, ensuring financial stability[18]. - The debt-to-asset ratio was 30.84% in 2021, a slight decrease of 1.19% from 32.03% in 2020[185]. - The company maintained a loan repayment rate of 100% in both 2020 and 2021, indicating strong financial stability[185]. - The company also maintained an interest payment ratio of 100% in both years, demonstrating effective management of interest obligations[185]. Market and Sales Performance - The company achieved a historical high in production with a coke output of 4.5459 million tons, an increase of 102,400 tons or 2.31% year-on-year[21]. - Polyethylene and polypropylene production reached 1.3656 million tons, up by 30,100 tons or 2.26% year-on-year, while propylene sales increased significantly by 145.13% to 101,800 tons[21]. - The company’s overseas revenue was RMB 13,161,137.70, with a 100% increase in sales compared to the previous year[44]. - The company has successfully launched two new products in the last quarter, contributing to a 7% increase in overall sales[104]. Risk Management - The company has established a comprehensive safety production management system to mitigate risks associated with chemical product manufacturing and coal mining[92]. - The company has implemented advanced pollution control technologies across its facilities, ensuring normal operation and compliance with environmental regulations[139]. - The company has developed a comprehensive emergency response plan for environmental incidents, updated in 2020[136].