Financial Performance - The company's operating revenue for 2019 was CNY 3,934,602,748.32, a decrease of 11.67% compared to CNY 4,454,332,447.71 in 2018[13]. - The net profit attributable to shareholders for 2019 was CNY 645,907,364.48, down 41.69% from CNY 1,107,714,334.15 in 2018[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 587,358,276.87, a decrease of 45.76% compared to CNY 1,082,870,979.73 in 2018[13]. - The net cash flow from operating activities was CNY 659,777,619.54, down 45.71% from CNY 1,215,367,655.75 in 2018[13]. - The company's net assets attributable to shareholders increased by 99.05% to CNY 4,952,554,435.04 at the end of 2019, compared to CNY 2,488,104,930.08 at the end of 2018[15]. - Total assets increased by 51.84% to CNY 5,357,936,471.27 at the end of 2019, compared to CNY 3,528,683,009.67 at the end of 2018[15]. - Basic earnings per share for 2019 were CNY 1.53, a decrease of 47.96% from CNY 2.94 in 2018[14]. - The weighted average return on net assets for 2019 was 15.47%, a decrease of 39.29 percentage points from 54.76% in 2018[14]. - The decline in revenue and profit was primarily due to the drop in prices of fluorinated refrigerants and the decrease in profitability of fluorinated refrigerant products[14]. Dividend and Share Capital - The company plans to distribute a cash dividend of 4.50 CNY (including tax) for every 10 shares, totaling approximately 196.23 million CNY[2]. - The company intends to increase its total share capital by 4 shares for every 10 shares held, resulting in a total of approximately 174.42 million new shares issued, increasing total shares to 610.48 million[2]. - The company's remaining undistributed profits will be carried forward to the next fiscal year after the implementation of the equity distribution plan[2]. - In 2019, the company distributed a cash dividend of 4.50 RMB per 10 shares, totaling 196,225,404.75 RMB, which represents 30.38% of the net profit attributable to ordinary shareholders[144]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[2]. - The company confirms that there are no non-operating fund occupations by controlling shareholders and related parties[2]. - The company has not violated regulatory decision-making procedures in providing guarantees[2]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible personnel[2]. - The company has not reported any non-standard audit opinions from its accounting firm, indicating compliance with auditing standards[166]. Risk Management - The company has detailed potential risks in its report, including specific risks and countermeasures related to future developments[2]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments in its forward-looking statements[2]. - The company has established a strong quality assurance system, achieving ISO9001 and ISO14001 certifications, which enhances its brand reputation[39]. - The company is facing significant regulatory pressure regarding safety and environmental standards following the 2019 Jiangsu chemical explosion incident[121]. Market and Industry Trends - The HFCs refrigerant market experienced oversupply, leading to a decline in product prices and overall profitability in the industry[31]. - HCFC-141b prices rebounded due to stricter regulations and supply tightening, despite being phased out in certain applications[32]. - Hydrogen fluoride prices showed a downward trend throughout the year, with average prices lower than the previous year, impacting profit margins[33]. - The company primarily engages in the research, production, and sales of fluorocarbon chemicals and inorganic fluorine products, with a focus on HFCs and HCFCs refrigerants[21]. - The company is adapting to regulatory changes by transitioning to environmentally friendly alternatives in its product offerings[82]. Research and Development - The company has increased R&D investment, completing 19 out of 29 ongoing projects, including advancements in HFO refrigerants and catalyst performance optimization[51]. - The total R&D expenditure for the period is ¥23,070,001.64, accounting for 0.59% of operating revenue[62]. - The company aims to enhance its research and development capabilities to support product upgrades and maintain competitive advantages in the market[123]. - The company is currently producing second-generation HCFCs and third-generation HFCs refrigerants, with a focus on expanding the production capacity of HFCs while developing fourth-generation HFOs refrigerants and foaming agents[136]. Social Responsibility - The company reported a total of 182.75 million yuan in donations for social welfare projects, including infrastructure and education support[197]. - The company allocated 27.30 million yuan specifically for funding impoverished students[198]. - A total of 37.00 million yuan was invested in targeted poverty alleviation efforts[198]. - The company has engaged in various social responsibility initiatives, including support for education and rural development[197]. Financial Management - The company has authorized management to use up to RMB 200,000,000 of idle self-owned funds for low-risk investment in wealth management products, valid for 12 months from the approval date[188]. - The company has also approved the use of up to RMB 900,000,000 of temporarily idle raised funds for cash management, valid for 12 months[188]. - The company has maintained a focus on structured deposits linked to interest rates and exchange rates, with various banks[195]. - The average return rates on structured deposits varied, with some products offering rates as high as 4.10%[194]. Corporate Governance - The company has established a sound internal control system to enhance governance standards and protect the rights of shareholders and creditors[200]. - The company treats all shareholders equally and ensures fair information disclosure post-listing[200]. - The company has committed to supporting employee stock incentive plans, aligning them with the company's performance measures[165]. - The company has pledged to adhere strictly to relevant laws and regulations regarding the conduct of its directors and senior management[165].

Financial Performance - Operating revenue for the period was CNY 1,088,077,606.13, representing a 15.21% increase year-on-year[4] - Net profit attributable to shareholders decreased by 9.76% to CNY 217,184,537.51 compared to the same period last year[4] - Basic earnings per share decreased by 9.38% to CNY 0.58 compared to the same period last year[4] - Total operating revenue for Q1 2019 was CNY 1,088,077,606.13, an increase from CNY 944,439,451.42 in Q1 2018, representing a growth of approximately 15.2%[20] - Net profit for Q1 2019 was CNY 217,053,272.45, compared to CNY 240,785,803.89 in Q1 2018, reflecting a decrease of approximately 9.8%[21] - Total profit for Q1 2019 was CNY 278,615,685.20, compared to CNY 307,710,746.84 in Q1 2018, a decrease of approximately 9.5%[21] Assets and Liabilities - Total assets increased by 53.95% to CNY 5,432,339,745.46 compared to the end of the previous year[4] - The total number of shareholders at the end of the reporting period was 58,691[7] - The company reported cash and cash equivalents of ¥2,646,047,353.54, a significant increase of 211.83% compared to ¥848,546,044.00 in the same period last year[10] - Total current assets increased to ¥3,648,074,501.80 from ¥1,630,684,151.68, representing a growth of approximately 124% year-over-year[17] - Total liabilities decreased to ¥1,135,766,707.09 from ¥1,049,780,909.20, reflecting a reduction of approximately 7.5%[19] - The total liabilities and shareholders' equity reached ¥4,768,319,463.50, up from ¥2,762,227,404.82, representing an increase of approximately 73%[19] Cash Flow - Net cash flow from operating activities decreased by 23.27% to CNY 188,783,127.41 compared to the same period last year[4] - The company reported a net cash flow from financing activities of ¥1,799,583,474.38, a significant increase compared to a negative cash flow of ¥354,657,273.92 in the same period last year[10] - Cash flow from operating activities generated a net amount of CNY 188,783,127.41, a decrease from CNY 246,034,391.25 in the previous year[26] - The net cash flow from financing activities was CNY 1,799,583,474.38, a significant increase compared to a net outflow of CNY 354,657,273.92 in the same period last year[27] Shareholder Information - The top shareholder, Hu Rongda, holds 36.89% of the shares, totaling 160,877,957 shares[7] - Shareholders' equity increased to ¥3,632,552,756.41 from ¥1,712,446,495.62, indicating a growth of around 112%[19] Government Subsidies - The company received government subsidies amounting to CNY 10,199,409.69 related to normal business operations[6] - Other income increased by 474.53% to ¥10,199,409.69, primarily due to government subsidies received during the period[10] Investment and Expenses - The company’s investment income turned negative at -¥184,314.33, a decline of 103.26% compared to ¥5,649,332.54 in the previous year[10] - Research and development expenses for Q1 2019 amounted to CNY 4,984,261.79, slightly higher than CNY 4,214,980.10 in Q1 2018, showing an increase of about 18.2%[21] - Financial expenses for Q1 2019 were CNY 16,934,357.58, down from CNY 23,734,082.31 in Q1 2018, indicating a reduction of about 28.7%[21] Inventory and Current Assets - The company’s inventory decreased to ¥274,580,193.23 from ¥354,752,050.02, reflecting a reduction of 22.61%[14] - The company’s inventory decreased to ¥135,577,637.79 from ¥189,322,118.55, a decline of about 28.4%[17] Accounting Standards - The company has adopted new financial accounting standards effective January 1, 2019, impacting the financial reporting framework[33] - The company has implemented new financial accounting standards effective January 1, 2019, impacting the financial reporting[38]