2018 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。 2018 年第三季度报告 公司代码：603225 公司简称：新凤鸣 新凤鸣集团股份有限公司 2018 年第三季度报告 1 / 23 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人庄奎龙、主管会计工作负责人高强及会计机构负责人（会计主管人员）沈孙强保 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 3 / 23 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 17,181,279,430.84 11,050,896,327.29 55.47 归属于上市公司 股东的净资产 ...

Financial Performance - In the first half of 2018, the company achieved operating revenue of CNY 14,407,151,007.67, representing a year-on-year growth of 33.67%[18] - Basic earnings per share increased to CNY 0.96, up 15.66% from CNY 0.83 in the same period last year[18] - Diluted earnings per share rose to CNY 0.95, reflecting a 14.46% increase compared to the previous year[18] - The company achieved a net profit attributable to shareholders of RMB 811,594,232.37 for the first half of 2018, representing a year-on-year increase of 54.20%[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 779,899,826.15, up 52.22% compared to the same period last year[19] - The net cash flow from operating activities reached RMB 935,011,708.58, reflecting a significant growth of 244.12% year-on-year, primarily due to increased cash receipts from sales[20] - The company continues to enhance cost control and improve management efficiency, contributing to a significant increase in overall profitability compared to the previous year[19] Assets and Liabilities - As of June 30, 2018, the company's net assets attributable to shareholders were RMB 7,627,662,315.25, a growth of 16.27% from the beginning of the year[20] - Total assets as of June 30, 2018, amounted to RMB 14,947,651,297.63, representing a 35.26% increase from the beginning of the year[20] - The total liabilities increased to CNY 7,319,988,982.38 from CNY 4,490,460,983.31, representing a rise of approximately 63.5%[114] - The company's equity attributable to shareholders rose to CNY 7,627,662,315.25, compared to CNY 6,560,435,343.98, marking an increase of around 16.3%[114] Inventory and Receivables - Accounts receivable increased by 196.24% to CNY 370,370,222.54, attributed to an increase in credit sales[43] - Inventory rose by 72.36% to CNY 1,321,446,387.96, driven by increased raw material stock and product inventory[43] - The company maintains a low inventory operation model, typically keeping raw material inventory at around 10 days of consumption[26] Market Position and Industry Outlook - The company is one of the largest polyester filament manufacturers in China, with an annual production capacity exceeding one million tons[25] - The polyester filament industry is expected to see new demand growth driven by downstream sectors such as apparel and home textiles, which will support structural adjustments in the industry[26] - The polyester filament industry is experiencing a steady recovery, with significant improvements in profitability and product prices in the first half of 2018 compared to the same period last year[30] - The company ranks second in the domestic civil polyester filament industry, with a production capacity of approximately 3.3 million tons, expected to reach 3.6 million tons by the end of 2018[33] Research and Development - Research and development expenses rose by 25.97% to CNY 216,156,487.83, reflecting increased investment in new products and technologies[41] - The company has developed several differentiated products, including EACOOL moisture-wicking fibers and K-warm hollow warming fibers, enhancing its product portfolio[34] Environmental Compliance - The total emissions of major pollutants from the company in the first half of 2018 were below the permitted limits, with specific emissions including 35,800 kg of sulfur dioxide and 50,455 kg of nitrogen oxides[84] - The company has implemented comprehensive pollution prevention facilities that meet the required discharge standards[85] - The company conducts annual environmental monitoring for water, air, and noise through a third-party professional monitoring agency, ensuring compliance with environmental regulations[88] Shareholder Information - The company held three shareholder meetings in 2018, with attendance representing over 75% of total shares, ensuring compliance with legal and regulatory requirements[58][59][60] - The largest shareholder, Zhuang Kuilong, held 226,206,057 shares, representing 26.84% of total shares[103] - The total number of common shareholders at the end of the reporting period was 34,558[100] Financial Governance - The company has committed to avoiding any form of competition with its own subsidiaries, ensuring no direct or indirect engagement in competing businesses[62] - The company guarantees to comply with relevant laws and regulations regarding share reduction and will announce three trading days in advance[64] - The company has appointed Tianjian Accounting Firm as its financial auditor for the year 2018, continuing from previous years[67] Risk Management - The report includes a risk statement indicating that forward-looking statements do not constitute a commitment to investors, urging caution regarding investment risks[5] - The company is exposed to risks related to raw material price fluctuations, particularly for PTA and MEG, which could adversely affect production and operations if not managed effectively[54] - The company’s operational performance may decline if there are significant fluctuations in the global economy or a continued slowdown in domestic economic growth[54]

Financial Performance - Operating revenue rose by 23.26% to CNY 5,727,186,101.38 year-on-year[5] - Net profit attributable to shareholders increased by 15.87% to CNY 262,094,927.81 compared to the same period last year[5] - Basic earnings per share decreased by 27.91% to CNY 0.31[5] - The weighted average return on net assets decreased by 3.12 percentage points to 3.92%[5] - Total operating revenue for the current period reached ¥5,727,186,101.38, an increase of 23.3% compared to ¥4,646,325,586.81 in the previous period[25] - Net profit for the current period was ¥262,094,927.81, representing a 13.8% increase from ¥230,415,014.43 in the previous period[27] - The company reported an operating profit of ¥329,449,681.72, which is a 13.1% increase from ¥291,150,926.44 year-over-year[27] - Investment income for the current period was ¥7,793,424.98, a significant recovery from a loss of ¥6,832,429.53 in the previous period[25] - The company recorded a total comprehensive income of ¥261,278,824.77, up from ¥230,394,175.30 in the previous period[27] Assets and Liabilities - Total assets increased by 11.12% to CNY 12,280,013,443.13 compared to the end of the previous year[5] - Current assets totaled CNY 4,106,665,693.12, compared to CNY 3,516,677,616.59, reflecting an increase of about 16.8%[21] - Non-current assets rose to CNY 8,173,347,750.01 from CNY 7,534,218,710.70, marking a growth of approximately 8.5%[21] - Total liabilities amounted to CNY 5,614,663,858.22, an increase from CNY 4,490,460,983.31, indicating a rise of around 25%[20] - Current liabilities increased to CNY 4,413,553,006.26 from CNY 3,444,870,901.28, showing a growth of approximately 28.1%[20] - The company's equity attributable to shareholders reached CNY 6,665,349,584.91, up from CNY 6,560,435,343.98, reflecting a growth of approximately 1.6%[21] Cash Flow - Net cash flow from operating activities improved by 90.76%, reaching CNY -50,021,248.39[5] - Cash flow from operating activities was negative at -¥50,021,248.39, an improvement from -¥541,458,022.19 in the prior period[32] - The net cash flow from operating activities was -7,115,046.86 RMB, compared to 3,457,075.65 RMB in the previous period, indicating a decline in operational performance[35] - Cash inflow from investment activities totaled 371,891,522.66 RMB, while cash outflow was 514,137,183.63 RMB, resulting in a net cash flow of -142,245,660.97 RMB[35] - The net cash flow from financing activities was 44,246,465.00 RMB, a significant improvement compared to -336,517,750.00 RMB in the previous period[35] Shareholder Information - The total number of shareholders reached 36,062 by the end of the reporting period[10] - The top shareholder, Zhuang Kuilong, holds 26.84% of the shares, totaling 226,206,057 shares[10] Inventory and Receivables - Accounts receivable increased by 176.81% to ¥346,075,402.42, primarily due to the increase in receivables from overseas letter of credit settlements[13] - Inventory rose by 93.16% to ¥1,480,953,073.19, attributed to increased raw material stocking and production inventory[13] - Prepayments increased by 117.32% to ¥224,599,632.04, mainly due to higher advance payments for raw materials[13] Expenses - Sales expenses increased by 34.40% to ¥17,710,214.21, primarily due to higher outbound logistics costs[14] - Management expenses rose by 47.72% to ¥121,026,092.75, driven by increased investment in new products and technologies[14] - The company experienced a decrease in financial expenses, which fell to ¥21,676,523.10 from ¥47,735,288.80 in the previous period[25] Future Plans - The company plans to raise up to ¥2.153 billion through the issuance of convertible bonds for various projects, including a 280,000-ton modified fiber project[15] Other Information - The company has not disclosed any significant new product developments or market expansion strategies in this report[12] - Non-recurring gains and losses totaled CNY 16,602,592.00 for the period[9] - The capital reserve decreased to CNY 1,696,051,154.59 from CNY 1,936,851,154.59, a decline of about 12.4%[20] - The company received 200,000,000.00 RMB from investment recoveries, indicating a strong recovery strategy[35] - The impact of exchange rate changes on cash and cash equivalents was -8,137,377.73 RMB, reflecting currency volatility[36]