Financial Performance - Net profit attributable to shareholders rose by 34.37% to CNY 79,887,934.13, compared to CNY 59,454,915.17 in the same period last year[6] - Operating revenue grew by 16.34% to CNY 442,490,012.38, up from CNY 380,358,194.94 year-on-year[6] - Basic earnings per share improved by 33.33% to CNY 0.44, compared to CNY 0.33 in the same period last year[6] - The total comprehensive income attributable to the parent company was CNY 79,887,934.13, an increase of 34.4% from CNY 59,454,915.17 in the previous year[26] - Net profit for Q1 2019 was ¥109,485,701.36, representing a growth of 32.19% from ¥82,803,715.42 in Q1 2018[22] - The company reported an operating profit of ¥132,009,161.82 for Q1 2019, compared to ¥102,326,896.22 in Q1 2018, marking a growth of 29.05%[22] Assets and Liabilities - Total assets increased by 5.00% to CNY 2,583,562,096 compared to the end of the previous year[6] - The total assets as of March 31, 2019, amounted to CNY 2,583,562,096.41, an increase from CNY 2,460,468,348.81 at the end of 2018[15] - The company’s non-current assets totaled CNY 703,698,187.95, up from CNY 634,382,762.14 at the end of 2018[15] - The total liabilities increased to CNY 235,708,508.12 from CNY 223,723,880.88, reflecting a rise in operational commitments[16] - Total liabilities amounted to CNY 223,723,880.88, with total equity at CNY 2,236,744,467.93, resulting in total assets of CNY 2,460,468,348.81[36] Cash Flow - Net cash flow from operating activities increased by 20.73% to CNY 136,020,205.62 compared to CNY 112,667,674.66 in the previous year[6] - The company’s cash flow from operating activities decreased by 43.69% to CNY 5,092.07 million compared to CNY 9,043.69 million in Q1 2018[11] - Cash flow from operating activities generated a net inflow of CNY 136,020,205.62, compared to CNY 112,667,674.66 in Q1 2018, marking a 20.7% increase[29] - The net cash flow from operating activities for Q1 2019 was ¥8,649,010.78, a decrease of 61.5% compared to ¥22,445,014.55 in Q1 2018[33] Shareholder Information - The number of shareholders reached 10,931 at the end of the reporting period[8] - The largest shareholder, Miao Jinfeng, holds 40.00% of the shares, totaling 72,000,000 shares[8] Expenses - Sales expenses rose to CNY 9,901.28 million, a 43.74% increase compared to CNY 6,888.24 million in the same period last year, primarily due to changes in transportation cost responsibilities[11] - Management expenses increased by 33.91% to CNY 17,945.20 million, driven by higher depreciation, amortization, and wage costs[11] - Financial expenses decreased significantly by 79.13% to CNY 2,664.53 million, attributed to reduced exchange losses during the period[11] Research and Development - Research and development expenses for Q1 2019 were ¥23,363,574.55, a decrease of 9.45% from ¥25,812,386.70 in Q1 2018[21] - Research and development expenses for Q1 2019 were CNY 3,257,442.15, slightly higher than CNY 3,183,343.43 in Q1 2018, indicating continued investment in innovation[25] Other Income and Investments - Interest income surged by 170.17% to CNY 2,572.55 million, resulting from an increase in monetary funds[11] - Other income increased dramatically by 763.25% to CNY 3,414.13 million, mainly due to higher government subsidies received[11] - The company recorded investment income of CNY 2,528,936.98 in Q1 2019, a significant recovery from a loss of CNY 101,754.56 in the same period last year[25] Inventory and Accounts Receivable - The company reported a significant decrease of 34.51% in accounts receivable, primarily due to the maturity of accepted bills[10] - The company's inventory decreased to ¥6,482,523.59 from ¥9,306,312.80 at the end of 2018, reflecting a reduction of 30.24%[18] - The company reported accounts receivable of CNY 21,250,760.56, including CNY 6,200,000.00 in notes receivable[39]

Financial Performance - The company's operating revenue for 2018 was CNY 1,645,899,047.57, representing a year-on-year increase of 12.99% compared to CNY 1,456,615,015.17 in 2017[21] - The net profit attributable to shareholders of the listed company reached CNY 312,104,257.48, a significant increase of 38.97% from CNY 224,580,343.11 in the previous year[21] - The net cash flow from operating activities was CNY 420,486,858.48, which is an increase of 47.77% compared to CNY 284,550,206.93 in 2017[21] - The total assets of the company at the end of 2018 were CNY 2,460,468,348.81, reflecting a growth of 20.63% from CNY 2,039,729,815.76 at the end of 2017[22] - The net assets attributable to shareholders of the listed company increased to CNY 1,760,319,680.17, up 16.07% from CNY 1,516,604,033.97 at the end of 2017[22] - Basic earnings per share increased by 38.40% to CNY 1.73 compared to CNY 1.25 in the previous year[23] - Diluted earnings per share also rose by 38.40% to CNY 1.73 from CNY 1.25 in 2017[23] - The weighted average return on equity increased by 3.30 percentage points to 19.01% from 15.71% in the previous year[23] Dividend and Shareholder Returns - The company proposed a cash dividend of CNY 6.00 per 10 shares, totaling CNY 10,800,000 to be distributed to shareholders[5] - In 2018, the company proposed a cash dividend of 6.00 RMB per 10 shares, totaling 108 million RMB, which represents 34.60% of the net profit attributable to shareholders[133] - The company distributed cash dividends of RMB 7.5 million based on a total share capital of 150 million shares, with a payout of RMB 5.00 per 10 shares[158] Revenue Breakdown - Total revenue for Q1 was CNY 380,358,194.94, while Q2 revenue was CNY 431,259,207.79, Q3 revenue was CNY 391,448,427.56, and Q4 revenue reached CNY 442,833,217.28[25] - Net profit attributable to shareholders for Q1 was CNY 59,454,915.17, Q2 was CNY 93,158,461.97, Q3 was CNY 75,084,350.47, and Q4 was CNY 84,406,529.87[25] - The revenue from domestic sales was approximately CNY 867.94 million, with a year-on-year increase of 8.82%[53] - The revenue from international sales reached approximately CNY 754.11 million, reflecting a year-on-year increase of 17.24%[53] Research and Development - Research and development expenses increased by 4.08% to CNY 83 million, indicating a commitment to innovation[49] - The company received 4 invention patents and 16 utility model patents during the reporting period, enhancing its R&D capabilities[86] - The company is committed to increasing investment in new product and technology research and development to support sustainable high-quality growth[123] - The company has established a provincial-level R&D center for new pesticide formulations, contributing to its innovation strategy[86] Market Position and Strategy - The company focuses on the research, production, and sales of pesticides, flame retardants, and other fine chemical products[29] - The company has established long-term stable strategic partnerships with many well-known clients, ensuring stable sales growth[37] - The "Suli" brand has been recognized as a famous trademark in China and has received various accolades, enhancing its market influence[39] - The company maintains a strong market position with advantages in the industrial chain, technology accumulation, and brand recognition[83] Environmental Compliance and Social Responsibility - The company has a commitment to environmental standards, adhering to national pollution discharge standards[160] - Su Li Chemical's wastewater and waste gas emissions met standards during the reporting period, achieving zero solid waste discharge[162][166][172] - The company engaged in social responsibility activities, donating a total of RMB 135,000 to various organizations in 2018[159] - The company emphasizes employee welfare, providing timely social insurance and training to enhance skills[158] Risks and Challenges - The company has outlined potential risks in its future development, which are detailed in the report[7] - The company faces potential risks related to safety and environmental compliance, which may increase operational costs and impact profitability[124] - The cost of raw materials constitutes a high proportion of product costs, and fluctuations in raw material prices can significantly affect the company's operational stability; the company plans to enhance supplier audits and expand supply channels to mitigate these risks[127] - A high proportion of the company's export revenue is denominated in USD; continued appreciation of the RMB could negatively impact profitability despite measures taken to manage foreign exchange risks[129] Corporate Governance - The company has committed to maintaining a strict shareholding structure, with major shareholders restricted from transferring shares for 36 months post-IPO, ensuring stability in ownership[136] - The company has no controlling shareholder or actual controller, ensuring a more stable governance structure[190] - The company aims to enhance management stability and cohesion through the establishment of a holding platform for executives and core employees[192] Future Outlook - Future outlook indicates a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[197] - The company plans to enhance its digital marketing efforts, allocating an additional 20 million RMB to boost online presence and engagement[198] - New product lines are expected to contribute an additional 200 million RMB in revenue over the next year[197]

江苏苏利精细化工股份有限公司 2018 年第三季度报告 公司代码：603585 公司简称：苏利股份 江苏苏利精细化工股份有限公司 2018 年第三季度报告 1 / 20 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 江苏苏利精细化工股份有限公司 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。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人缪金凤、主管会计工作负责人李刚及会计机构负责人（会计主管人员）李刚保证季 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 / 20 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 2,294,408,874.79 2,039,729,815.76 12.49 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 811,617,402.73, representing a 10.71% increase compared to CNY 733,083,764.86 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2018 was CNY 152,613,377.14, a 34.64% increase from CNY 113,350,335.01 in the previous year[20]. - The net cash flow from operating activities reached CNY 225,525,183.82, showing a significant increase of 160.19% compared to CNY 86,675,849.81 in the same period last year[20]. - Basic earnings per share for the first half of 2018 were CNY 0.85, a 34.92% increase from CNY 0.63 in the same period last year[21]. - The weighted average return on equity increased to 9.56%, up 1.47 percentage points from 8.09% in the previous year[21]. - The company achieved a consolidated operating revenue of 812 million yuan, representing a year-on-year growth of 10.71%[41]. - The net profit attributable to shareholders of the listed company was 153 million yuan, reflecting a year-on-year increase of 34.64%[41]. - The company reported a significant increase in non-current assets, totaling CNY 571,009,297.05, up from CNY 551,093,765.04, which is a growth of 3.24%[110]. - The company reported a total of CNY 3,978,962.84 in special reserve contributions during the period[135]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,189,772,163.68, up 7.36% from CNY 2,039,729,815.76 at the end of the previous year[20]. - The company's net assets attributable to shareholders increased by 5.31% to CNY 1,597,110,316.05 from CNY 1,516,604,033.97 at the end of the previous year[20]. - Total liabilities amounted to CNY 196,091,569.60, up from CNY 157,521,419.01, indicating an increase of 24.48%[111]. - Owner's equity reached CNY 1,993,680,594.08, compared to CNY 1,882,208,396.75, showing an increase of 5.91%[112]. - The total amount of guarantees provided by the company, including those to subsidiaries, is 160,000,000 RMB, which accounts for 8.03% of the company's net assets[75]. Operational Strategy - The increase in net profit was primarily driven by higher prices of the company's main products, which boosted operating revenue and profit margins[21]. - The company plans to continue focusing on product price adjustments and operational efficiency to sustain growth in the future[6]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[1]. - The company plans to stabilize its stock price through specific measures as outlined in its stabilization plan, including potential share buybacks[68]. Research and Development - Research and development expenses rose by 54.82% to RMB 44,282,979.33, compared to RMB 28,602,154.98 in the same period last year[44]. - The company emphasizes continuous investment in R&D, particularly in developing green and environmentally friendly formulations[35]. - The company has been actively involved in R&D for fine chemical products and intermediates, aiming to enhance its product offerings[147]. Environmental Compliance - The company has implemented various pollution control measures, ensuring that emissions meet the required standards[78]. - The company received environmental impact assessment approvals for two projects on March 15 and March 22, 2018[80]. - The company has established a self-monitoring plan for environmental emissions, which has been approved by the local environmental authority[82]. - During the reporting period, the company faced an administrative penalty of 300,000 yuan due to exceeding non-methane total hydrocarbons, but it has actively rectified the issue without affecting normal production[83]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,861[97]. - The top ten shareholders held a total of 126,000,000 restricted shares, with the largest shareholder, Miao Jinfeng, holding 72,000,000 shares, representing 40% of the total[99]. - The company’s stock was subject to a 36-month lock-up period from the date of listing for the restricted shares[102]. - The company committed to repurchase its shares if the stock price falls below the audited net asset value for 20 consecutive trading days within three years post-IPO[66]. Financial Management - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[62]. - The company has not reported any major changes in its financial reporting or received non-standard audit reports[70]. - The company executed its daily related party transactions in compliance with contracts, ensuring no significant violations or defaults occurred[72]. - The company recognizes deferred tax assets for unused tax losses, requiring significant management judgment regarding future taxable profits[157]. Risk Factors - The company faces risks related to safety and environmental protection, which could impact operational performance due to stricter regulations and potential penalties[56]. - The fluctuation in the price of the main product, Baikuning, poses a risk to the company's operating performance due to market demand and competition[56]. - The company faces significant risks from raw material price fluctuations, which constitute a high proportion of product costs, potentially impacting profits if prices rise rapidly[57]. - Tax policy changes could adversely impact the company's operating performance if tax incentives are altered or not renewed after expiration[58].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 811,617,402.73, representing a 10.71% increase compared to CNY 733,083,764.86 in the same period last year[20]. - The net profit attributable to shareholders for the reporting period was CNY 152,613,377.14, a 34.64% increase from CNY 113,350,335.01 year-on-year[20]. - The net cash flow from operating activities reached CNY 225,525,183.82, showing a significant increase of 160.19% compared to CNY 86,675,849.81 in the previous year[20]. - Basic earnings per share for the first half of 2018 were CNY 0.85, a 34.92% increase from CNY 0.63 in the same period last year[21]. - The weighted average return on equity rose to 9.56%, an increase of 1.47 percentage points compared to 8.09% in the previous year[21]. - The company achieved a consolidated revenue of 812 million yuan, representing a year-on-year growth of 10.71%[41]. - The net profit attributable to shareholders of the listed company was 153 million yuan, an increase of 34.64% year-on-year[41]. - Operating profit for the first half of 2018 was CNY 257,657,752.44, up 42.4% from CNY 181,068,310.41 in the previous year[117]. - The total comprehensive income for the period was 152,613,377.14 RMB, with a significant contribution from retained earnings[133]. - The total comprehensive income for the period was CNY 154,536,289.89, with a significant increase compared to the previous period[134]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,189,772,163.68, up 7.36% from CNY 2,039,729,815.76 at the end of the previous year[20]. - The company's net assets attributable to shareholders increased by 5.31% to CNY 1,597,110,316.05 from CNY 1,516,604,033.97 at the end of the previous year[20]. - The company's total assets for its major subsidiaries include Su Li Chemical with total assets of RMB 862,407,800 and Bai Li Chemical with total assets of RMB 678,732,000[54]. - Total liabilities amounted to CNY 196,091,569.60, up from CNY 157,521,419.01, which is an increase of approximately 24.48%[111]. - The total owner's equity reached CNY 1,993,680,594.08, up from CNY 1,882,208,396.75, representing an increase of about 5.91%[112]. Investments and R&D - Research and development expenses rose by 54.82% to RMB 44,282,979.33, compared to RMB 28,602,154.98 in the same period last year[44]. - The company has been continuously investing in R&D to maintain a leading position in the market, particularly in pesticide formulation development[35]. - The company is committed to enhancing its production capacity for various pesticide formulations, including wettable powders and suspensions[36]. - The company focuses on the research and development, production, and sales of pesticides, flame retardants, and other fine chemical products[26]. - The company aims to expand its market presence through technology transfer and investment in research and development[147]. Risk Factors - The company has outlined potential risks related to its operations in the report, advising investors to be cautious[7]. - The company faces risks related to safety and environmental protection, which could impact operational performance due to stricter regulations and potential penalties[56]. - The price volatility of the main product, Bai Jun Qing, poses a risk to the company's operating performance due to market demand fluctuations and increased competition[56]. - The company faces significant risks from raw material price fluctuations, which constitute a high proportion of product costs, potentially impacting profits if prices rise rapidly[57]. - There is a risk associated with fundraising investment projects, as future market growth may not meet expectations, leading to potential sales shortfalls[57]. - The company has a high proportion of foreign sales, primarily settled in USD, making it vulnerable to RMB appreciation, which could adversely affect profitability[57]. - Tax policy changes could negatively impact the company's operating performance if tax incentives are altered or not renewed after expiration[58]. Environmental Compliance - The company has implemented various pollution control measures, ensuring that emissions meet the required standards[78]. - The company received environmental impact assessment approvals for two projects on March 15 and March 22, 2018[80]. - An emergency response drill for environmental incidents was conducted on June 25, 2018, yielding effective results[81]. - The company has established a self-monitoring plan for environmental emissions, which has been approved by the local environmental authority[82]. - The company reported that wastewater and waste gas emissions met standards during the reporting period[86]. - The company has established a complete environmental management system and passed the ISO 14001 certification[88]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,583[97]. - The largest shareholder, Miao Jinfeng, held 72,000,000 shares, representing 40% of the total shares[99]. - The total number of restricted shares at the end of the reporting period was 126,000,000, with 21,000,000 shares released during the reporting period[96]. - The company is committed to maintaining shareholding restrictions for major shareholders for 36 months post-IPO, ensuring stability in share ownership[64]. - The company’s controlling shareholders have committed to increase their holdings if the stock price falls below the audited net asset value for 20 consecutive trading days[66]. Accounting Policies - The company applies the accrual basis of accounting, with historical cost as the measurement basis for financial statements, except for certain financial instruments[149]. - The company conducts impairment tests for non-financial assets, including intangible assets, when there are indications of impairment[155]. - The company recognizes deferred tax assets for unused tax losses, requiring significant management judgment regarding future taxable profits[157]. - The financial statements reflect the company's financial position, operating results, changes in equity, and cash flows accurately and completely[157]. - The company assesses the recoverability of receivables and inventories, with provisions for bad debts and inventory write-downs based on management's estimates[153][157].

Financial Performance - Net profit attributable to shareholders increased by 27.70% to CNY 59,454,915.17 year-on-year[5] - Operating income rose by 7.70% to CNY 380,358,194.94 compared to the same period last year[5] - Basic earnings per share increased by 29.03% to CNY 0.40 per share[5] - The weighted average return on equity improved by 0.49 percentage points to 3.83%[5] - Operating profit for Q1 2018 reached CNY 102,326,896.22, compared to CNY 78,983,055.08 in the same period last year, marking a growth of 29.6%[25] - Net profit for Q1 2018 was CNY 82,803,715.42, an increase of 24.9% from CNY 66,348,920.53 in the previous year[25] Cash Flow - Net cash flow from operating activities surged by 1,356.66% to CNY 112,667,674.66 year-to-date[5] - Cash inflow from operating activities totaled CNY 376,380,503.33, up from CNY 343,995,764.40 year-over-year[28] - Total cash outflow from operating activities was CNY 263,712,828.67, down from CNY 336,261,128.73 in the previous year[29] - The net cash flow from operating activities for Q1 2018 was CNY 22,445,014.55, a significant increase of 149.5% compared to CNY 8,981,025.39 in the same period last year[30] - Total cash inflow from operating activities was CNY 48,893,408.39, up from CNY 41,729,287.83 year-over-year, reflecting a growth of 5.2%[30] Assets and Liabilities - Total assets increased by 4.92% to CNY 2,140,120,849.67 compared to the end of the previous year[5] - The company's total assets amounted to CNY 1,109,342,161.85, up from CNY 1,101,212,141.00 at the beginning of the year[22] - Current assets totaled CNY 584,354,786.74, slightly up from CNY 574,969,056.48 at the start of the year[22] - Total liabilities were CNY 35,559,417.69, compared to CNY 34,277,065.98 at the beginning of the year, indicating a rise of 3.7%[23] Shareholder Information - The total number of shareholders reached 11,036 by the end of the reporting period[11] - The top shareholder, Miao Jinfeng, holds 40.00% of the shares, totaling 60,000,000 shares[11] Expenses - Management expenses increased by 39.23% to ¥39,213,816.27 from ¥28,164,510.84 due to higher R&D investments[14] - Financial expenses surged by 434.18% to ¥12,764,472.18 from ¥2,389,536.42, primarily due to significant foreign exchange losses[14] - Income tax expenses increased by 50.14% to ¥19,358,242.46 from ¥12,893,617.47, driven by higher profits and a tax rate of 25%[14] - Management expenses decreased to CNY 4,781,948.91 from CNY 5,371,775.94 year-over-year, reflecting cost control efforts[26] - The company reported a tax expense of CNY 2,751,282.83 for the quarter, up from CNY 897,537.21 in the previous year[26] Investments - The company received CNY 200,000,000.00 from investment recoveries during the quarter[29] - Cash inflow from investment activities of CNY 201,571,266.15, compared to CNY 170,779,777.70 in the previous year, representing a growth of 17.9%[30] - Cash outflow for investment activities totaled CNY 202,781,644.66, up from CNY 154,255,260.13, indicating an increase of 31.3%[30] Other Financial Metrics - Accounts receivable decreased by 36.10% to ¥22,224,128.82 from ¥34,780,132.06 due to increased use of notes for payment[14] - Prepayments increased by 30.71% to ¥19,473,764.77 from ¥14,898,305.42, reflecting higher raw material prepayments[14] - Other receivables rose by 84.84% to ¥2,080,535.35 from ¥1,125,591.86, attributed to customs deposits for "processing trade"[14] - Intangible assets increased by 118.47% to ¥72,550,173.96 from ¥33,207,561.09, following the acquisition of land use rights[14] - Long-term deferred expenses rose by 224.79% to ¥21,269,758.94 from ¥6,548,776.91, due to the completion of employee dormitory renovations[14]

Financial Performance - The company's operating revenue for 2017 was CNY 1,456,615,015.17, representing a year-on-year increase of 7.85% compared to CNY 1,350,565,250.46 in 2016[21] - The net profit attributable to shareholders of the listed company reached CNY 224,580,343.11, up 21.23% from CNY 185,256,877.54 in the previous year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 215,098,774.26, an increase of 17.08% compared to CNY 183,722,721.81 in 2016[21] - The net cash flow from operating activities was CNY 284,550,206.93, reflecting a growth of 20.15% from CNY 236,838,547.82 in the previous year[22] - As of the end of 2017, the total assets amounted to CNY 2,039,729,815.76, a 7.63% increase from CNY 1,895,062,303.65 at the end of 2016[22] - The net assets attributable to shareholders of the listed company were CNY 1,516,604,033.97, which is a 12.79% increase from CNY 1,344,638,038.81 at the end of 2016[22] - Basic earnings per share decreased by 6.25% to CNY 1.50 from CNY 1.60 in the previous year[23] - Diluted earnings per share also decreased by 6.25% to CNY 1.50 from CNY 1.60 in the previous year[23] - The weighted average return on equity dropped by 11.40 percentage points to 15.71% from 27.11% in the previous year[23] Dividends and Shareholder Returns - The company proposed a cash dividend of CNY 5.00 per 10 shares, totaling CNY 75,000,000, and a capital reserve conversion of 2 shares for every 10 shares held[6] - In 2017, the company distributed cash dividends of 60 million RMB to shareholders based on a distribution of 6.00 RMB per 10 shares for the 2016 fiscal year[146] - The company distributed a cash dividend of 6.00 RMB per 10 shares, totaling 60,000,000 RMB, to all shareholders[166] Research and Development - The company invested CNY 79.85 million in R&D, which is a 6.14% increase compared to the previous year[42] - The total R&D expenditure amounted to CNY 79,852,635.78, accounting for 5.48% of total revenue, with 190 R&D personnel, representing 19.51% of the total workforce[54] - The company has obtained 5 invention patents and 6 utility model patents during the reporting period, with 29 additional patents under review[39] - The company plans to increase R&D investment and strengthen technological innovation in pesticide and flame retardant products[107] - Research and development efforts are being intensified, with a budget allocation of 10% of total revenue aimed at innovation[184] Environmental Responsibility - The company is committed to environmental responsibility, having invested in waste incineration and other environmental protection facilities, expected to complete acceptance by June 2018[39] - The company’s production processes include measures for waste gas, wastewater, and noise management to minimize environmental impact[149] - The company achieved compliance with wastewater and air emissions standards during the reporting period[154] - The company holds a valid pollutant discharge permit issued by the local environmental protection bureau, ensuring compliance with environmental regulations[154] - Major air pollutants included particulate matter, SO2, NOx, and VOCs, with total emissions of 2.0524 tons of particulate matter, 1.162 tons of SO2, and 5.433 tons of NOx[155] - Wastewater pollutants included COD at 500 mg/L and ammonia nitrogen at 30 mg/L, with total COD emissions of 18 tons per annum[155] Market Position and Strategy - The company is recognized as a leading producer of fungicides in China, with the "Suli" brand being a well-known trademark[33] - The company is positioned in the C26 chemical raw materials and chemical products manufacturing industry, focusing on pesticide and flame retardant production[67] - The company plans to continue expanding its market presence and product offerings in response to evolving industry standards and regulations[66] - The company aims to enhance market share in pesticide formulations and flame retardants, positioning itself as a significant player in the fine chemical industry[107] - The management highlighted a focus on expanding market presence and developing new technologies to enhance product offerings[184] Risks and Compliance - The company has outlined potential risks in its future development, which are detailed in the report[8] - The company faces risks related to safety and environmental regulations, which may increase operational costs due to stricter compliance requirements[110] - The company’s main raw materials constitute a high proportion of product costs, making it vulnerable to price fluctuations in the raw materials market[110] - The company’s foreign sales revenue is significantly impacted by exchange rate fluctuations, particularly with the USD[112] Corporate Governance - The company has established a mechanism to adjust the share price in case of dividend distributions or capital increases during the lock-up period[121] - The company’s governance structure complies with the requirements of the Company Law and the Securities Law, ensuring the protection of shareholders' rights[196] - The board held a total of 10 meetings during the year, with 7 conducted in person and 3 combining in-person and communication methods[200] - The company has three independent directors, constituting one-third of the board, who actively participated in board meetings and provided independent opinions on major matters[198] Employee Welfare and Community Engagement - Employee compensation expenses increased by 11.38% in 2017 compared to the previous year, reflecting the company's commitment to improving employee welfare[145] - The company donated a total of 900,000 RMB to various charitable organizations in 2017, supporting poverty alleviation and health initiatives[147] - The company is actively involved in social responsibility initiatives, emphasizing employee rights and community support[145] Shareholder Structure and Stock Management - The company’s total share capital increased from 100 million shares to 150 million shares following a capital reserve conversion and cash dividend distribution[162] - The top shareholder, Miao Jinfeng, holds 60,000,000 shares, representing 40% of the total shares, with no shares pledged or frozen[170] - The company has a clear strategy for managing share price stability in the event of market fluctuations post-IPO[121] - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO, with an automatic extension of 6 months if the stock price falls below the issue price for 20 consecutive trading days[119]

江苏苏利精细化工股份有限公司 2017 年第三季度报告 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 1,951,358,195.99 1,895,062,303.65 2.97 归属于上市公司 股东的净资产 1,456,780,174.01 1,344,638,038.81 8.34 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 241,180,800.57 188,941,932.09 27.65 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 1,064,519,155.04 1,001,933,412.13 6.25 归属于上市公司 股东的净利润 166,465,039.90 130,406,804.75 27.65 归属于上市公司 股东的扣除非经 常性损益的净利 160,493,114.81 129,130,301.31 24.29 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 ...

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 733,083,764.86, representing a 9.94% increase compared to CNY 666,800,642.82 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2017 was CNY 113,350,335.01, a 25.11% increase from CNY 90,601,343.94 in the previous year[20]. - The total operating revenue for the first half of 2017 reached CNY 733,083,764.86, an increase of 9.9% compared to CNY 666,800,642.82 in the same period last year[101]. - Net profit for the period was CNY 154,536,289.89, compared to CNY 126,532,582.84 in the previous year, representing a growth of 22.1%[102]. - The net profit attributable to shareholders of the parent company was CNY 113,350,335.01, an increase from CNY 90,601,343.94, marking a rise of 25.1%[102]. - The company reported a significant increase in retained earnings, with an adjustment of -171,706,000.00 RMB for profit distribution[119]. Cash Flow and Assets - The net cash flow from operating activities decreased by 29.33% to CNY 86,675,849.81 from CNY 122,650,607.81 in the same period last year[20]. - The company's cash and cash equivalents decreased to CNY 788,925,431.01 from CNY 921,045,449.03[94]. - The total assets at the end of the reporting period were CNY 1,929,400,301.88, a 1.81% increase from CNY 1,895,062,303.65 at the end of the previous year[20]. - The total assets increased to CNY 1,107,808,744.59 from CNY 877,179,099.26, indicating a growth of 26.2%[99]. - The total liabilities decreased to CNY 205,623,686.27 from CNY 259,602,633.10, indicating a reduction of about 20.8%[96]. - The company's equity increased to CNY 1,723,776,615.61 from CNY 1,635,459,670.55, representing an increase of approximately 5.4%[96]. Research and Development - The company has developed over 120 varieties of green and environmentally friendly pesticide formulations, with more than 60 achieving mass production[28]. - The company obtained 4 invention patents and 5 utility model patents during the reporting period, with an additional 14 patents under review[33]. - The company plans to invest over ¥50 million in environmental protection equipment, including solid waste incinerators and wastewater systems, to enhance its green development initiatives[34]. - The company has allocated 100 million RMB for research and development in new technologies over the next two years[59]. Market Strategy and Expansion - The company plans to continue focusing on technological innovation and market expansion strategies in the future[6]. - The company is focusing on expanding into emerging markets such as Southeast Asia and South America, with initial successes reported in these areas[35]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2019[57]. - The company is actively expanding its product line in pesticide formulations, enhancing its overall profitability[29]. Environmental Management - The company has passed various quality management certifications, including ISO9001, ISO14001, and OHSAS18001[30]. - The company has established a comprehensive environmental management system, including various management protocols and monitoring measures for waste treatment and emissions compliance[71]. - The company has not violated any environmental laws or regulations during the reporting period and has not faced any administrative penalties related to environmental issues[73]. - The company’s solid waste, including hazardous waste, is treated through incineration and disposed of at qualified third-party facilities[73]. Shareholder Information - The company distributed a cash dividend of 6.00 CNY per 10 shares, totaling 60,000,000 CNY, and increased its total share capital from 100,000,000 shares to 150,000,000 shares[79]. - The total number of ordinary shareholders reached 11,875 by the end of the reporting period[82]. - The top shareholder, Miao Jinfeng, holds 60,000,000 shares, representing 40% of the total shares, after an increase of 20,000,000 shares during the reporting period[83]. - The company has committed to maintaining a stable stock price through a buyback plan if stock prices fall below net asset value for 20 consecutive trading days[57]. Risk Management - The company faces risks related to raw material price volatility, which significantly affects production costs and profit margins[46]. - The company has implemented measures to manage foreign exchange risks, as a high proportion of sales are in USD, which could be adversely affected by RMB appreciation[47]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial reports accurately reflect its financial position and operating results[138]. - The company’s accounting policies are based on the accrual basis, with historical cost as the measurement basis for most assets[134]. - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on their classification[152].

Financial Performance - Operating revenue rose by 15.17% to CNY 353,169,460.07 year-on-year[6] - Net profit attributable to shareholders increased by 14.61% to CNY 46,559,699.46 compared to the same period last year[6] - Basic earnings per share decreased by 12.96% to CNY 0.47[6] - Total operating revenue for Q1 2017 was CNY 353,169,460.07, an increase of 15.2% compared to CNY 306,653,091.82 in the same period last year[26] - Net profit for Q1 2017 reached CNY 66,348,920.53, representing a 15.5% increase from CNY 57,288,541.36 in Q1 2016[27] - The net profit attributable to shareholders of the parent company was CNY 46,559,699.46, up from CNY 40,624,028.57, marking a growth of 14.3%[28] - Total comprehensive income for the first quarter of 2017 was approximately ¥174.33 million, compared to ¥5.50 million in the previous period[30] Assets and Liabilities - Total assets increased by 2.21% to CNY 1,936,901,891.98 compared to the end of the previous year[6] - Total assets as of March 31, 2017, amounted to CNY 1,936,901,891.98, up from CNY 1,895,062,303.65 at the beginning of the year[20] - Current assets totaled CNY 1,428,952,718.84, an increase from CNY 1,399,967,078.86 at the start of the year[18] - Total liabilities decreased to CNY 240,125,304.45 from CNY 259,602,633.10 at the beginning of the year[20] - Total non-current assets amounted to CNY 463,930,701.43, an increase from CNY 312,776,035.33 year-over-year[24] - Total liabilities were CNY 30,712,512.33, slightly up from CNY 30,169,890.78, indicating a 1.8% increase[24] Cash Flow - Net cash flow from operating activities decreased significantly by 89.82% to CNY 7,734,635.67[6] - Net cash flow from operating activities decreased by 89.82% to CNY 7,734,635.67, primarily due to an increase in operating receivables[14] - Cash inflow from operating activities was ¥343.99 million, slightly up from ¥343.43 million year-over-year[31] - Cash outflow for purchasing goods and services increased to ¥260.25 million from ¥205.72 million[31] - Cash flow from investment activities showed a net outflow of ¥22.83 million, compared to a smaller outflow of ¥19.12 million last year[32] - Cash and cash equivalents at the end of the period totaled ¥875.24 million, down from ¥205.22 million in the previous year[32] - The company reported a net cash flow increase of ¥22.96 million from financing activities, compared to an increase of ¥6.04 million last year[36] Investments and Expenses - Construction in progress rose by 72.44% to CNY 35,547,961.51 reflecting increased project investments[13] - Sales expenses increased by 34.41% to CNY 8,687,725.63 due to growth in sales scale[13] - The company reported a significant increase in tax payments, which rose by 57.38% to CNY 23,789,525.55 compared to the previous year[14] - The company reported an investment income of CNY 169,684,484.40, a significant increase compared to a loss of CNY 607,387.15 in the previous year[29] Accounts Receivable and Inventory - Accounts receivable increased by 48.65% to CNY 60,900,325.67 due to increased business settled by bank acceptance bills[13] - Accounts receivable increased to CNY 292,068,690.97 from CNY 263,139,753.39, indicating a rise in credit sales[18] - Inventory remained stable at CNY 155,295,625.59, slightly down from CNY 155,440,514.91[18] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[27]