2019 年年度报告 公司代码：601118 公司简称：海南橡胶 海南天然橡胶产业集团股份有限公司 2019 年年度报告 1 / 269 2019 年年度报告 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、 中审众环会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人王任飞、主管会计工作负责人王劲及会计机构负责人（会计主管人员） 孙和亮声明：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 经中审众环会计师事务所（特殊普通合伙）审计，2019年公司（母公司报表）共 实现净利润195,542,021.98元，加上年初未分配利润总额436,278,474.59元，再提取 10%的法定盈余公积19,554,202.20元后，2019年度分配2018年度现金股利 47,073,703.20元，期末可供股东分配的利润为565,192,591.17元。 根据公司资金状况以及 ...

2019 年第三季度报告 公司代码：601118 公司简称：海南橡胶 海南天然橡胶产业集团股份有限公司 2019 年第三季度报告 1 2019 年第三季度报告 重要提示 一、 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 2019 年第三季度报告 一、 重要提示 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 公司负责人王任飞、主管会计工作负责人王劲 及会计机构负责人（会计主管人员）孙 和亮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。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|-------------------------------------|------------------ ...

2019 年半年度报告 公司代码：601118 公司简称：海南橡胶 海南天然橡胶产业集团股份有限公司 2019 年半年度报告 1 / 203 2019 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、 公司负责人王任飞、主管会计工作负责人王劲及会计机构负责人（会计主管人员） 孙和亮声明：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 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中有涉及公司经营计划和发展战略等前瞻性陈述，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 报告期内，不存在对公司持续经营产生影响的重大风险，公司已在本报告中阐述 了公司在生产经营过程中可能面临的风险，敬请查阅本报告"第 ...

Important Notice [Report Authenticity Statement and Audit Status](index=3&type=section&id=1.1-1.4.%20Report%20Authenticity%20Statement%20and%20Audit%20Status) The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assumes legal responsibility; this quarterly report is unaudited - The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the report content[3](index=3&type=chunk) - The company's Q1 2019 report is unaudited[3](index=3&type=chunk) Company Overview [Major Financial Data](index=3&type=section&id=2.1.%20Major%20Financial%20Data) In Q1 2019, the company achieved significant revenue growth and a turnaround in net profit, with operating cash flow also turning positive Q1 2019 Major Financial Data | Metric | Current Period (yuan) | Prior Year Period (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,575,627,094.39 | 1,093,138,068.68 | 44.14% | | Net Profit Attributable to Shareholders | 16,949,893.37 | -252,892,859.27 | N/A | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -31,469,692.23 | -350,377,416.10 | N/A | | Net Cash Flow from Operating Activities | 261,024,145.40 | -207,015,175.47 | N/A | | Basic Earnings Per Share (yuan/share) | 0.0040 | -0.0625 | N/A | Non-recurring Gains and Losses | Item | Current Period Amount (yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 486,623.06 | | Government Grants | 26,083,132.31 | | Gains/Losses from Fair Value Changes of Trading Financial Assets/Liabilities, etc | 18,313,669.68 | [Shareholder Information](index=4&type=section&id=2.2.%20Shareholder%20Information) As of the end of the reporting period, the company had **116,372 shareholders**, with Hainan State Farms Investment Holdings Group Co., Ltd. as the controlling shareholder, holding **63.44%** through its subsidiary, and state-owned legal entities comprising a significant portion of the top ten shareholders - As of the end of the reporting period, the company had a total of **116,372 shareholders**[8](index=8&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Proportion (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Hainan State Farms Group Co., Ltd. | 2,715,012,024 | 63.44 | State-owned Legal Entity | | Great Wall (Tianjin) Equity Investment Fund Management Co., Ltd. | 96,899,224 | 2.26 | State-owned Legal Entity | | Xintai Life Insurance Co., Ltd. - Traditional Products | 48,450,000 | 1.13 | Domestic Non-state-owned Legal Entity | | Guoxin Guotou Fund Management (Beijing) Co., Ltd. | 48,449,612 | 1.13 | Domestic Non-state-owned Legal Entity | | Huashang Fund - Industrial Bank - Beijing Huayu Ruitai Equity Investment Partnership | 48,449,612 | 1.13 | Domestic Non-state-owned Legal Entity | - The company's controlling shareholder, Hainan State Farms Investment Holdings Group Co., Ltd., completed its share increase plan by cumulatively acquiring **39 million shares** through the secondary market; as of the end of the reporting period, Hainan State Farms Investment Holdings Group actually held a total of **2,754,012,024 shares**, accounting for **64.35%** of the company's total shares[9](index=9&type=chunk) Significant Events [Analysis of Major Changes in Key Financial Indicators](index=6&type=section&id=3.1.%20Major%20Changes%20in%20Company's%20Key%20Accounting%20Statement%20Items%20and%20Financial%20Indicators%2C%20and%20Their%20Reasons) During the reporting period, the company experienced significant changes in several financial indicators, including a **44.14% year-over-year increase** in operating revenue due to higher rubber sales, substantial reductions in accounts receivable and other receivables, and positive shifts in net cash flow from operating and investing activities, while net cash flow from financing activities significantly decreased due to loan repayments Major Balance Sheet Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Derivative Financial Assets | 99.32% | Increase in unrealized gains from financial instruments at period-end | | Accounts Receivable | -64.37% | Collection of receivables for rubber timber | | Other Receivables | -62.80% | Collection of receivables for seedling compensation and rubber income insurance compensation | | Construction in Progress | 47.30% | Increased investment in rubber plantation construction | | Employee Compensation Payable | -48.39% | March being the tapping cessation period, accrued wages decreased compared to year-end | Major Income Statement Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | 44.14% | Increase in rubber sales volume compared to prior year period | | R&D Expenses | 103.38% | Increased R&D investment | | Financial Expenses | -47.43% | Decrease in bank borrowings | | Asset Impairment Losses | -127.57% | Increase in net realizable value of inventories at period-end | | Gains from Fair Value Changes | -85.96% | Decrease in unrealized gains from financial instrument holdings | | Income Tax Expense | 207.69% | Increase in deferred income tax expense | Major Cash Flow Statement Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 226.09% | Increase in rubber product receipts and collection of receivables for rubber timber | | Net Cash Flow from Investing Activities | 172.54% | Recovery of prior year financial instrument deposits and gains from asset disposal | | Net Cash Flow from Financing Activities | -142.89% | Repayment of bank borrowings | [Progress of Significant Events](index=7&type=section&id=3.2.%20Analysis%20of%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Events) During the reporting period, the company advanced two significant matters: a major asset restructuring involving the cash acquisition of **5,010,888 shares** of R1 International Pte Ltd, which has been approved by shareholders and is undergoing overseas investment filing and foreign exchange registration; and the termination of land contract relationships for certain low-yield rubber plantations with the controlling shareholder, with land delivery completed and **1.02 billion yuan** in transaction payments received - Major Asset Restructuring: The company plans to acquire a total of **5,010,888 shares** of R1 International Pte Ltd for cash; this matter was approved by the general meeting of shareholders on April 29, 2019, and has completed overseas investment filings with the Ministry of Commerce and the National Development and Reform Commission, with foreign exchange registration currently in progress[14](index=14&type=chunk)[15](index=15&type=chunk) - Asset Disposal and Compensation: The company terminated land contract relationships for certain low-yield rubber plantations with its controlling shareholder, with a final confirmed land area of **82,623.77 mu** and a transaction amount of **1.0195 billion yuan**; as of March 31, 2019, the company had received all transaction payments[15](index=15&type=chunk) Appendix [Financial Statements](index=10&type=section&id=4.1.%20Financial%20Statements) This section includes the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2019 [Consolidated Balance Sheet](index=10&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2019, the company's consolidated total assets were **14.007 billion yuan**, a **6.20% decrease** from the beginning of the period, and net assets attributable to shareholders were **9.711 billion yuan**, a **0.89% decrease** from the beginning of the period Consolidated Balance Sheet Key Items (March 31, 2019) | Item | Amount (yuan) | | :--- | :--- | | Total Assets | 14,006,680,713.45 | | Total Liabilities | 4,085,791,706.88 | | Total Equity Attributable to Parent Company Shareholders | 9,710,794,526.05 | [Parent Company Balance Sheet](index=13&type=section&id=Parent%20Company%20Balance%20Sheet) As of March 31, 2019, the parent company's total assets were **13.497 billion yuan**, and total liabilities were **3.18 billion yuan** Parent Company Balance Sheet Key Items (March 31, 2019) | Item | Amount (yuan) | | :--- | :--- | | Total Assets | 13,496,771,767.54 | | Total Liabilities | 3,180,011,416.31 | | Total Shareholders' Equity | 10,316,760,351.23 | [Consolidated Income Statement](index=16&type=section&id=Consolidated%20Income%20Statement) In Q1 2019, the company achieved total operating revenue of **1.576 billion yuan**, total profit of **45.17 million yuan**, net profit of **15.11 million yuan**, and net profit attributable to parent company shareholders of **16.95 million yuan**, successfully turning losses into profits Consolidated Income Statement Key Items (Q1 2019) | Item | Amount (yuan) | | :--- | :--- | | Total Operating Revenue | 1,575,627,094.39 | | Operating Profit | 39,315,501.74 | | Total Profit | 45,166,365.60 | | Net Profit | 15,111,231.08 | | Net Profit Attributable to Parent Company Shareholders | 16,949,893.37 | [Parent Company Income Statement](index=19&type=section&id=Parent%20Company%20Income%20Statement) In Q1 2019, the parent company achieved operating revenue of **176 million yuan** and a net loss of **13.62 million yuan**, significantly reducing its loss from **165 million yuan** in the prior year period Parent Company Income Statement Key Items (Q1 2019) | Item | Amount (yuan) | | :--- | :--- | | Operating Revenue | 175,960,592.54 | | Operating Profit | -15,465,702.54 | | Total Profit | -13,619,414.74 | | Net Profit | -13,619,414.74 | [Consolidated Cash Flow Statement](index=21&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2019, the company's net cash flow from operating activities was **261 million yuan**, from investing activities was **260 million yuan**, and from financing activities was **-626 million yuan**, with cash and cash equivalents balance at period-end reaching **3.149 billion yuan** Consolidated Cash Flow Statement Key Items (Q1 2019) | Item | Amount (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 261,024,145.40 | | Net Cash Flow from Investing Activities | 260,273,901.79 | | Net Cash Flow from Financing Activities | -626,154,235.72 | | Cash and Cash Equivalents at Period-end | 3,148,687,762.83 | [Parent Company Cash Flow Statement](index=23&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) In Q1 2019, the parent company's net cash flow from operating activities was **105 million yuan**, from investing activities was **40.02 million yuan**, and from financing activities was **41.29 million yuan**, with cash and cash equivalents balance at period-end reaching **2.232 billion yuan** Parent Company Cash Flow Statement Key Items (Q1 2019) | Item | Amount (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 104,695,219.19 | | Net Cash Flow from Investing Activities | 40,016,436.39 | | Net Cash Flow from Financing Activities | 41,285,597.83 | | Cash and Cash Equivalents at Period-end | 2,231,896,966.96 | [Explanation of Adjustments for First-time Adoption of New Accounting Standards](index=25&type=section&id=4.2.%20Adjustments%20to%20Financial%20Statement%20Items%20at%20the%20Beginning%20of%20the%20First%20Adoption%20Year%20for%20New%20Financial%20Instruments%20Standards) In accordance with new financial instrument standards, the company retrospectively adjusted its financial statements as of January 1, 2019, primarily reclassifying certain financial assets, such as 'available-for-sale financial assets' to 'other equity instrument investments,' and recognizing expected credit losses on other receivables, with corresponding adjustments to retained earnings and undistributed profits at the beginning of the year - The company measured expected credit losses for other receivables in accordance with new financial instrument standards, adjusting retained earnings at the beginning of the year for the cumulative impact[42](index=42&type=chunk) - Financial assets were reclassified: original 'financial assets measured at fair value with changes recognized in profit or loss' were reclassified to 'derivative financial assets'; original 'available-for-sale financial assets' were reclassified to 'other equity instrument investments'[42](index=42&type=chunk) Consolidated Statement Adjustments to Equity at Beginning of Year | Item | Before Adjustment (yuan) | After Adjustment (yuan) | Adjustment Amount (yuan) | | :--- | :--- | :--- | :--- | | Surplus Reserve | 404,224,378.09 | 392,774,465.10 | -11,449,912.99 | | Undistributed Profits | -105,352,611.92 | -208,401,828.84 | -103,049,216.92 | | Total Equity Attributable to Parent Company Shareholders | 9,797,818,301.74 | 9,683,319,171.83 | -114,499,129.91 |

2019 年第一季度报告 公司代码：601118 公司简称：海南橡胶 海南天然橡胶产业集团股份有限公司 2019 年第一季度报告 1 / 24 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2019 年第一季度报告 一、 重要提示 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 公司负责人王任飞、主管会计工作负责人王劲及会计机构负责人（会计主管人员）孙和亮保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|--------------------|---- ...

2018 年年度报告 公司代码：601118 公司简称：海南橡胶 海南天然橡胶产业集团股份有限公司 2018 年年度报告 1 / 221 2018 年年度报告 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、 中审众环会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人王任飞、主管会计工作负责人王劲及会计机构负责人（会计主管人员）孙和亮声 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 经中审众环会计师事务所（特殊普通合伙）审计，2018年公司（母公司报表）实现净利润 471,367,471.62元，加上年初未分配利润总额115,299,854.03元，再提取10%的法定盈余公积 47,136,747.16元后，本年可供股东分配的利润为539,530,578.49元。 根据公司资金状况以及中国证监会关于上市公司分红的有关规定，公司拟定的2018年度利润 分配方 ...

Financial Performance - Operating revenue decreased by 50.46% to CNY 4.35 billion for the first nine months compared to the same period last year[6] - Net profit attributable to shareholders surged by 3,131.50% to CNY 450.41 million year-on-year[6] - Basic earnings per share increased to CNY 0.1072, a rise of 2,962.86% compared to the previous year[6] - Operating revenue decreased by 50.46% to CNY 4,348,748,363.52 compared to the previous year due to a decline in rubber prices and sales volume[13] - Net profit for Q3 2018 reached CNY 832,857,867.38, a significant increase from CNY 140,414,810.24 in Q3 2017, representing a growth of 493.5%[31] - The company reported a net profit of ¥163,557,505.27, recovering from a loss of ¥286,854,506.63 in the previous period[25] - The company’s total comprehensive income for Q3 2018 was CNY 827,884,348.79, compared to CNY 141,018,413.54 in Q3 2017, representing a substantial increase of 487.5%[31] Assets and Liabilities - Total assets increased by 18.22% to CNY 15.82 billion compared to the end of the previous year[6] - The company's cash and cash equivalents increased by 47.68% to CNY 2,921,149,236.02 compared to CNY 1,978,082,708.61 in the previous year[11] - Accounts receivable rose by 96.22% to CNY 544,762,413.50, primarily due to receivables from the termination of land contracting relationships[11] - Total liabilities increased to ¥5,611,603,389.92 from ¥5,422,360,916.83, a rise of approximately 3.5%[25] - The total assets as of the end of Q3 2018 were CNY 14,103,156,967.48, compared to CNY 11,570,201,477.04 at the end of Q3 2017, indicating an increase of 21.9%[28] Cash Flow - Net cash flow from operating activities improved by 173.31% to CNY 207.27 million compared to the same period last year[6] - Net cash flow from financing activities increased significantly by 3,359.84% to CNY 1,223,773,337.11, primarily from a targeted issuance of new shares[14] - Cash inflow from sales of goods and services for the first nine months of 2018 was CNY 922,963,936.00, down from CNY 1,273,001,994.42 in the same period last year[42] - The net increase in cash and cash equivalents for the first nine months of 2018 was CNY 1,309,453,886.76, contrasting with a decrease of CNY 813,485,563.23 in the previous year[43] Shareholder Information - The total number of shareholders reached 128,119 by the end of the reporting period[8] - The total number of shares held by the controlling shareholder increased to 2,718,012,024 shares, representing 63.51% of the total shares[10] Government and Non-Operating Income - Government subsidies recognized in the current period amounted to CNY 79.10 million for the first nine months[6] - The company reported a non-operating income of CNY 814.55 million for the first nine months, primarily from compensation income[6] - Non-operating income surged by 257.14% to CNY 832,447,860.21, primarily from compensation income related to the termination of land contracts[14] Capital and Reserves - The company's capital reserve grew by 38.07% to CNY 5,234,826,274.17, driven by the premium from the recent targeted issuance of shares[12] - The company’s capital reserve increased to CNY 5,221,696,142.30 in Q3 2018 from CNY 3,779,139,624.91 in Q3 2017, reflecting a growth of 38.2%[28] Research and Development - Research and development expenses for Q3 2018 were CNY 1,311,892.95, a decrease of 42.3% compared to CNY 2,273,590.80 in Q3 2017[30] - Research and development expenses for Q3 2018 were ¥1.05 million, a decrease from ¥2.21 million in Q3 2017[35]

Financial Performance - The basic earnings per share for the first half of 2018 was -0.0925 RMB, a decrease of 193.65% compared to -0.0315 RMB in the same period last year[20]. - The diluted earnings per share for the same period was also -0.0925 RMB, reflecting the same percentage decrease of 193.65%[20]. - The weighted average return on net assets was -4.39%, a decrease of 2.84 percentage points from -1.55% in the previous year[20]. - The basic earnings per share after deducting non-recurring gains and losses was -0.1511 RMB, a decrease of 56.58% compared to -0.0965 RMB in the same period last year[20]. - The weighted average return on net assets after deducting non-recurring gains and losses was -7.17%, a decrease of 2.41 percentage points from -4.76% in the previous year[20]. - The company's operating revenue for the first half of the year was ¥2,217,209,814.56, a decrease of 59.39% compared to the same period last year[21]. - The net profit attributable to shareholders was -¥385,094,209.16, representing a decline of 210.94% year-over-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥629,245,955.82, a decrease of 65.84% compared to the previous year[21]. - The net cash flow from operating activities was -¥662,302,530.09, down 81.12% from the same period last year[21]. - The company reported a net loss of CNY 671,948,715.79 for the period, compared to a loss of CNY 286,854,506.63 in the previous period[120]. - Total revenue for the first half of 2018 was CNY 2,217,209,814.56, a decrease of 59.5% compared to CNY 5,460,310,161.27 in the same period last year[127]. - The net loss for the first half of 2018 was CNY 382,181,065.26, compared to a net loss of CNY 134,637,089.60 in the previous year, representing a significant increase in losses[127]. Assets and Liabilities - The total assets at the end of the reporting period were ¥14,416,779,673.14, an increase of 7.76% from the end of the previous year[21]. - The net assets attributable to shareholders increased by 18.08% to ¥9,186,233,335.08 compared to the end of the previous year[21]. - Total assets at the end of the reporting period amounted to 14,600,000,000.00 CNY, with a year-on-year increase of 3.12%[46]. - The company's total assets at the end of the reporting period were RMB 9,685,589,071.65[150]. - The total liabilities decreased from CNY 5,422,360,916.83 to CNY 5,046,464,748.74, representing a reduction of approximately 6.9%[120]. - The company's total liabilities decreased to CNY 3,028,621,038.25 from CNY 3,387,502,767.17, a reduction of 10.6%[124]. - The total liabilities to equity ratio improved from 0.69 to 0.54, indicating a stronger financial position[120]. Cash Flow - The net cash flow from operating activities was -522,628,544.06 RMB, compared to -356,654,795.80 RMB in the previous period, indicating a decline of approximately 46.5%[137]. - Cash flow from operating activities showed a net outflow of CNY 662,302,530.09, compared to a smaller outflow of CNY 365,674,927.68 in the same period last year[133]. - Cash flow from investing activities resulted in a net outflow of CNY 144,557,876.58, an improvement from a net outflow of CNY 340,380,908.18 in the previous year[133]. - Cash flow from financing activities generated a net inflow of CNY 1,290,383,987.57, significantly higher than the net inflow of CNY 217,128,761.83 in the same period last year[134]. - The total cash inflow from financing activities reached 3,371,610,970.59 RMB, significantly up from 300,000,000.00 RMB in the previous period, marking an increase of over 1,021%[137]. - The total cash and cash equivalents at the end of the period increased to 1,510,582,592.85 RMB, compared to 734,972,013.53 RMB at the end of the previous period, representing a growth of approximately 105.5%[137]. Operational Highlights - The company operates 353,000 acres of rubber plantations and has processing capacity of 320,000 tons in Hainan and 100,000 tons in Yunnan[26]. - The company is focusing on expanding its logistics services to provide multi-level and multi-link logistics solutions for the rubber industry[26]. - The company has made significant progress in technology research and development, including obtaining qualifications for military-grade natural rubber projects and achieving key technology identification for the industrialization of nano-clay natural rubber[39]. - The company has completed approximately 38,000 acres of high-efficiency agricultural planting, including bananas and mangoes, to enhance land productivity[37]. - The company has implemented a series of reforms to activate grassroots creativity and improve management efficiency through new policies and incentive mechanisms[36]. Market and Industry Context - Global natural rubber production in the first half of 2018 was 6,489,500 tons, a year-over-year increase of 4.5%[28]. - The global natural rubber demand for the same period was 7,308,000 tons, reflecting a growth of 5.0% year-over-year[29]. - The company faces significant risks from natural disasters such as wind, drought, and pest damage, despite implementing preventive measures and purchasing agricultural insurance[54]. - Fluctuations in natural rubber market prices are closely tied to global economic conditions, with the current risk being the trade war initiated by the United States, which is viewed as a potential economic crisis trigger[54]. Shareholder and Equity Information - The company completed a non-public offering of 348,256,197 shares at a price of RMB 5.16 per share, raising a total of RMB 1,797,001,976.52, with a net amount of RMB 1,790,812,714.39 after expenses[100]. - The total share capital increased from 3,931,171,600 shares to 4,279,427,797 shares following the non-public offering[101]. - Hainan Provincial Agricultural Reclamation Group Co., Ltd. holds 2,715,012,024 shares, representing 63.44% of total shares[108]. - The top ten shareholders include Changcheng (Tianjin) Equity Investment Fund Management Co., Ltd. with an increase of 96,899,224 shares, accounting for 2.26%[108]. Environmental and Social Responsibility - The company is actively involved in environmental protection and is classified as a key pollutant discharge unit[85]. - Four domestic rubber processing plants achieved "zero discharge" status and do not have any discharge outlets[87]. - The company has signed an insurance agreement with China People's Property Insurance Company for a total premium of 140,052,393.10 RMB for the year 2018[77]. - The company has assisted 5 registered impoverished individuals in achieving poverty alleviation during the first half of 2018[83]. - The company plans to continue leveraging its industrial advantages to assist in poverty alleviation efforts and ensure that individuals do not fall back into poverty[84]. Legal and Compliance - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal standing[61]. - The company maintains a good credit status with no significant overdue debts reported during the period[61]. - The company has no overdue guarantees as of the end of the reporting period[76]. Accounting and Financial Policies - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[163]. - The company follows specific accounting policies for determining the net realizable value of inventory and accounting for biological assets[160]. - The company applies the equity method for accounting treatment of business combinations under common control[167]. - The company recognizes impairment losses on available-for-sale financial assets when there is a non-temporary decline in fair value, even if the asset has not been derecognized[190].

Financial Performance - The company's operating revenue for 2017 was CNY 10,818,322,651.34, representing a 21.88% increase compared to CNY 8,876,506,775.80 in 2016[21] - The net profit attributable to shareholders of the listed company was a loss of CNY 264,044,536.18, a decrease of 530.70% from a profit of CNY 61,305,465.42 in 2016[21] - The net cash flow from operating activities was a negative CNY 77,039,646.04, down 114.36% from CNY 536,395,255.44 in 2016[21] - The total assets at the end of 2017 were CNY 13,368,188,114.52, a decrease of 2.38% from CNY 13,694,137,608.45 at the end of 2016[21] - The net assets attributable to shareholders of the listed company decreased by 3.17% to CNY 7,779,898,027.95 from CNY 8,034,692,843.54 in 2016[21] - The basic earnings per share for 2017 was -0.0672 RMB, a decrease of 530.77% compared to 0.0156 RMB in 2016[22] - The weighted average return on equity decreased to -3.34% in 2017 from 0.7637% in 2016, a reduction of 4.10 percentage points[22] - The gross margin for rubber products decreased by 0.09 percentage points to 4.40%[55] - The company reported a net profit attributable to ordinary shareholders of -264.04 million RMB for the year 2017, with a profit distribution ratio of 0%[113] Operational Highlights - The company achieved a sales volume of 751,500 tons of rubber products in 2017, with processing capacity utilization increasing by 3.42% year-on-year[45] - The company has a total of 3.53 million mu of rubber plantations and a processing capacity of 320,000 tons, making it one of the most influential enterprises in the rubber industry[30] - The company reported an increase in investment income of 243.59%, totaling ¥144,456,854.68[55] - The production volume of rubber products was 10.24 million tons, with a year-on-year increase of 11.06%[57] - The company has established a strong sales network, covering major cities in China and global trading centers, making it a key supplier to the top ten tire manufacturers worldwide[72] Strategic Initiatives - The company plans to optimize the industrial structure of low-yield rubber plantations and develop new agricultural tourism projects to expand profit margins[32] - The company initiated a "big acquisition, big processing, big trade" strategy to enhance market competitiveness and improve operational efficiency[45] - The company plans to enhance its R&D capabilities by establishing a natural rubber research institute and focusing on innovations in smart tapping tools and automated production systems[106] - The company is exploring acquisition opportunities in the tech sector, with a budget of 100 million allocated for potential deals[167] - The company is committed to sustainability initiatives, with plans to invest 60 million in eco-friendly practices over the next three years[170] Risk Management - The company has outlined various risks and countermeasures in its operational analysis section of the report[8] - The company recognizes natural disasters and fluctuations in natural rubber prices as significant risks that could impact its operational performance[109] - The company has not faced any major risks that could impact its ongoing operations during the reporting period[8] - The company has committed to resolving potential competition issues by transferring 100% equity of its subsidiaries in Indonesia within 30 months if certain conditions are met[114] Shareholder and Governance Matters - The company has not proposed any cash profit distribution plan despite having a positive profit available for distribution to ordinary shareholders during the reporting period[113] - The company has not distributed any dividends in the past three years, with cash dividends amounting to 0 RMB in 2015, 2016, and 2017[113] - The company held six shareholder meetings in 2017, all resolutions were passed without any rejections[184] - The total remuneration paid to the board of directors, supervisors, and senior management for the reporting period was CNY 4.0226 million[176] Environmental and Social Responsibility - The company has established a comprehensive environmental monitoring system for wastewater discharge, ensuring compliance with pollution standards[151] - The company has assisted 105 registered poor individuals in achieving poverty alleviation during the reporting period[147] - The company plans to complete the poverty alleviation tasks for registered poor individuals in collaboration with local poverty alleviation offices in 2018[148] Future Outlook - The company aims to sell 920,000 tons of rubber products in 2018, representing a year-on-year growth of 22.42%[105] - Future outlook indicates a projected revenue growth of 10% for the upcoming fiscal year, driven by new product launches and market expansion strategies[169] - The company is actively investing in R&D for new technologies, with a budget allocation of 402.26 million for innovation initiatives[170] - Market expansion efforts are focused on increasing presence in Southeast Asia, targeting a 15% market share by 2020[169]

Financial Performance - Operating revenue decreased by 27.36% to CNY 1,093,138,068.68 compared to the same period last year[8] - Net profit attributable to shareholders was a loss of CNY 252,892,859.27, a decrease of 1,897.59% compared to the same period last year[8] - Basic earnings per share decreased to CNY -0.0625 from CNY 0.0036, a decline of 1,836.11%[8] - Operating revenue decreased by 27.36% to CNY 1,093,138,068.68 compared to CNY 1,504,842,277.67 in the same period last year[24] - Operating costs decreased by 28.66% to CNY 1,024,834,737.88 from CNY 1,436,626,250.84 year-on-year[24] - Investment income decreased by 15.42% to CNY 42,492,202.91 compared to CNY 50,239,563.39 in the previous year[24] - The company reported a decrease in undistributed profits due to operational losses during the reporting period[23] - The total comprehensive income attributable to the parent company was a loss of CNY 245,719,073.46, compared to a gain of CNY 14,338,454.54 in the previous year[50] - The company reported a significant increase in asset impairment losses, totaling CNY 98,958,142.64, compared to CNY 2,951,501.14 in the previous year[50] Assets and Liabilities - Total assets increased by 8.86% to CNY 14,553,019,757.75 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 19.86% to CNY 9,324,991,668.88 compared to the end of the previous year[8] - The company has no long-term borrowings as of the end of the reporting period, a decrease of 100% compared to the previous year[12] - The total liabilities decreased to ¥3,135,950,019.64 from ¥3,387,502,767.17, a reduction of 7.4%[44] - Deferred income tax assets increased due to the corresponding increase in inventory impairment provisions[16] - The company’s deferred income tax liabilities rose to ¥12,644,638.78 from ¥2,236,587.50, indicating a substantial increase[44] Cash Flow - Cash flow from operating activities improved by 60.17%, with a net outflow of CNY 207,015,175.47 compared to CNY 519,695,008.66 in the previous year[8] - Cash flow from financing activities increased significantly by 391.85% to CNY 1,459,835,907.80 from CNY 296,807,646.72 year-on-year[34] - The net cash flow from operating activities was a negative CNY 207,015,175.47, an improvement from a negative CNY 519,695,008.66 in the previous year[52] - Cash and cash equivalents at the end of the period increased to CNY 2,897,504,536.42 from CNY 1,902,908,465.27 in the previous year[53] - The company raised CNY 714,660,997.74 in borrowings during the quarter, compared to CNY 575,929,444.42 in the previous year[53] - Cash inflow from financing activities reached $2.09 billion, with significant contributions from a $300 million loan and $1.79 billion from other financing activities[56] - The overall net increase in cash and cash equivalents was $1.18 billion, a significant turnaround from a decrease of $402.6 million in the previous period[56] Government Support and Investments - The company received government subsidies amounting to CNY 24,876,415.14, which are closely related to its normal business operations[8] - Other current assets increased mainly due to the purchase of financial products during the period[15] - The company completed a non-public offering of 348,256,197 shares, raising a total of CNY 1,797,001,976.52 to strengthen its position in the natural rubber industry[34] Inventory and Impairment - Inventory levels increased to ¥562,734,999.23 from ¥474,121,347.88, an increase of 18.6%[43] - The company reported an asset impairment loss of ¥258,828,691.28, a significant increase compared to ¥6,261,909.69 in the previous year[46] - Asset impairment losses increased significantly by 4,033.38% to CNY 258,828,691.28, primarily due to a decline in the net realizable value of inventory[24]