Financial Performance - The company's operating revenue for the first half of 2024 reached ¥3,892,506,575.15, representing a 12.65% increase compared to ¥3,455,496,183.93 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was ¥365,839,838.79, up 23.14% from ¥297,090,119.42 year-on-year[12]. - The net profit after deducting non-recurring gains and losses was ¥363,822,839.58, reflecting a 34.40% increase from ¥270,707,004.41 in the previous year[12]. - The net cash flow from operating activities was ¥268,362,608.74, a significant increase of 239.83% compared to ¥78,969,825.20 in the same period last year[12]. - The basic earnings per share for the first half of 2024 was ¥0.3164, which is a 23.16% increase from ¥0.2569 in the previous year[13]. - The diluted earnings per share also stood at ¥0.3164, marking a 23.16% increase year-on-year[13]. - The weighted average return on net assets increased to 4.4015%, up by 0.66 percentage points from 3.7429% in the previous year[13]. - Total assets decreased by 14.42% to ¥10,493,051,809.30 from ¥12,260,700,804.54 at the end of the previous year[12]. - The net assets attributable to shareholders of the listed company increased by 1.20% to ¥8,226,759,091.57 from ¥8,128,830,209.75 at the end of the previous year[12]. Operational Highlights - The company reported a non-recurring gain of 2,016,999.21 RMB after accounting for government subsidies and other non-operating income[16]. - The chlor-alkali industry faced challenges with fluctuating prices, particularly in the caustic soda market, which saw a decline due to new capacity and reduced demand[17]. - The company operates two production bases in Shanghai and Guangxi, enhancing operational efficiency and market reach[18]. - The company is focusing on technological innovation in areas such as chlorine and hydrochloric acid new products and processes, as well as polyether polyol production[18]. - The company has established a strong international sales platform and logistics capabilities, including two specialized ports in Shanghai with an annual throughput of 5 million tons[19]. - The company aims to balance market fluctuations and stringent environmental policies while pursuing stable development in the chlor-alkali industry[17]. - The company has implemented a risk compensation mechanism in long-term contracts to mitigate execution risks and ensure stable supply[18]. - The PVC market is experiencing weak demand due to real estate regulations and international price fluctuations, impacting overall sales performance[17]. - The company aims for sustainable development by focusing on new development concepts and enhancing core competitiveness through strategic initiatives like the HPPO project in Guangxi[20]. - The company has implemented a dynamic production planning system, optimizing production costs and ensuring real-time monitoring through the MES system[21]. - The Shanghai base completed HAZOP analysis for four core units, enhancing safety management and achieving production goals[22]. - The company is actively adjusting sales strategies to match market dynamics, focusing on balancing domestic and international demand[22]. - The company has increased R&D investment compared to the previous year, contributing to the development of high-end products and new materials[23]. - Cash flow from operating activities increased due to higher sales receipts compared to the previous year[23]. - The company is committed to energy-saving projects, achieving cost reduction and efficiency improvements through optimized production processes[22]. - The company is enhancing internal controls to mitigate financial risks and ensure compliance in fund management[22]. - The company is focusing on talent development across various fields, including R&D and supply chain management, to support high-quality growth[23]. - The company is leveraging digital transformation to improve decision-making efficiency and profitability through the application of a timely profit model[23]. Investment and Capital Expenditure - The company is investing in a new project for the production of 300,000 tons/year of hydrogen peroxide and other related products, with construction progressing and expected to enter trial production by September 2024[30]. - Research and development expenses increased by 50.51% to ¥139,821,496.84 from ¥92,895,879.15 year-on-year[24]. - The company reported a significant increase in financial expenses due to higher interest expenses and exchange losses compared to the previous year[24]. - The total restricted assets at the end of the reporting period amounted to ¥24,492,523.36, primarily due to deposits and litigation freezes[28]. - The company reported a significant investment in equity instruments totaling CNY 41,306,838.30 million[33]. - The major subsidiary, Guangxi Huayi Chlor-alkali Chemical Co., achieved a net profit of CNY 7,939.75 million, contributing significantly to the overall profit[36]. - The company is facing challenges such as overcapacity and uneven demand recovery in the industry, which are expected to persist into the second half of 2024[37]. - The company has appointed Li Fan as the new General Manager, replacing Zhang Weimin, who has resigned from the position[38]. - The company has not implemented any employee stock ownership plans or other incentive measures during this period[41]. Environmental and Safety Compliance - The company emphasizes the importance of safety and environmental policies, which are becoming stricter in the chemical industry[37]. - The company achieved a 100% industrial waste gas treatment rate and a 100% industrial wastewater treatment rate, meeting the discharge permit requirements[43]. - The company has established 13 sets of online monitoring devices for waste gas and 11 sets for environmental protection in the Caojing area, ensuring real-time monitoring of pollutants[43]. - In 2024, the company plans to construct a new incinerator in the Caojing area to enhance waste gas and liquid treatment capacity[43]. - The company has implemented measures to reduce carbon emissions, including the procurement of clean energy and the upgrade of core production equipment, resulting in significant energy consumption reduction[47]. - The company received environmental impact assessment approvals for several projects, including the VCM shipping and unloading facilities in Guangxi[44]. - The company has a 100% operational rate for environmental protection devices in the first half of 2024, complying with national and company regulations[45]. - The company has not faced any major environmental pollution incidents in the first half of 2024[45]. - The company utilizes general industrial solid waste, such as salt mud, for brick-making, adhering to the principles of Reduce, Reuse, and Recycle[43]. - The company has established an environmental safety emergency management system and conducted emergency drills, ensuring preparedness for potential environmental incidents[45]. Shareholder and Corporate Governance - The total number of ordinary shareholders as of the end of the reporting period is 75,121[61]. - The largest shareholder, Shanghai Huayi Holdings Group Co., Ltd., holds 538,805,647 shares, accounting for 46.59% of total shares[62]. - The company has not reported any changes in share capital structure during the reporting period[61]. - There are no significant new strategies or product developments mentioned in the report[61]. - The report indicates no major contracts or fundraising activities during the reporting period[61]. - The financial report was approved by the board of directors on August 2, 2024[98]. - The company maintains its ability to continue as a going concern for the next 12 months[102]. - The company reported that significant other payables exceeding 10% of total other payables and amounting to over 20 million yuan were noted[107]. - Important non-wholly owned subsidiaries accounted for over 5% of the company's consolidated net assets[107]. Accounting Policies and Financial Reporting - The company confirmed that it does not have any changes in significant accounting policies or estimates for the reporting period[163]. - The company has opted not to recognize right-of-use assets and lease liabilities for short-term and low-value asset leases, instead expensing lease payments on a straight-line basis[161]. - The company has a corporate income tax rate of 15% for Shanghai Chlor-Alkali Chemical Co., Ltd., while other subsidiaries have rates ranging from 20% to 25%[165]. - The company has implemented a tax policy that allows for a 25% reduction in taxable income for small and micro enterprises with annual taxable income not exceeding ¥1 million, effective until December 31, 2024[167]. - The company has recognized tax incentives for small and micro enterprises, allowing a reduced corporate income tax rate of 20% for eligible subsidiaries, such as Shanghai Jinyuan Water Co., Ltd.[167]. Receivables and Inventory Management - The accounts receivable at the end of the period amounted to ¥275,890,844.13, an increase from ¥265,652,564.18 at the beginning of the period, representing a growth of approximately 3.4%[171]. - The bad debt provision for accounts receivable was ¥22,658,350.91, with a provision ratio of 8.21%[173]. - The company reported a significant decrease in receivables financing, with the end balance at ¥132,507,066.77 compared to ¥202,235,924.05 at the beginning of the period, indicating a decline of approximately 34.4%[175]. - The company has pledged receivables financing, with an amount of ¥710,837,263.92 confirmed at the end of the period[176]. - The top five accounts receivable and contract assets accounted for 74.03% of the total, with the largest being ¥78,729,195.33 from Covestro Polymer (China) Co., Ltd.[174]. - The inventory at the end of the period amounts to CNY 392,664,780, with a provision for inventory depreciation of CNY 61,037,570[192]. - The total balance of current assets, including pending input tax and prepaid corporate income tax, is CNY 8,832,427.72, down from CNY 81,421,756.45 at the beginning of the period[194]. - The provision for inventory depreciation at the end of the period is CNY 61,037,570.80, with a decrease of CNY 5,000,000 due to sales[192]. Related Party Transactions - The company reported a total of 30,800.70 million RMB in sales from related party transactions, accounting for 0.07% of similar transactions[51]. - The company acquired a 40% stake in Guangxi Huayi Chlor-Alkali Chemical Co., making it a wholly-owned subsidiary as of July 5, 2024[52]. - The company engaged in related party transactions for material procurement totaling 4,995.12 million RMB, representing 0.01% of similar transactions[50]. - The company provided services to related parties amounting to 2,889.71 million RMB, also accounting for 0.01% of similar transactions[50]. - The company reported sales of products to related parties totaling 11,979.10 million RMB, which is 0.03% of similar transactions[51]. - The company has ongoing related party transactions as part of its regular business activities, emphasizing the importance of collaboration with subsidiaries[51]. Miscellaneous - The company has not disclosed any temporary announcements that are applicable for the reporting period[53]. - The company has not received any non-standard audit opinions related to the previous annual report[50]. - The company confirmed that there were no significant changes in the integrity status of its controlling shareholders during the reporting period[50].

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 3,455,496,183.93, a decrease of 5.76% compared to CNY 3,666,848,972.75 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2023 was CNY 297,090,119.42, down 66.49% from CNY 886,461,298.76 in the previous year[19]. - The net cash flow from operating activities was CNY 78,969,825.20, representing a significant decline of 90.17% compared to CNY 803,761,130.96 in the same period last year[19]. - The basic earnings per share for the first half of 2023 was CNY 0.2569, a decrease of 66.49% from CNY 0.7666 in the same period last year[20]. - The decline in net profit and cash flow was attributed to the continuous decline in prices of the company's main products due to market conditions[20]. - The company reported a total of CNY 26,047.79 million in revenue, with a decrease of CNY 349.20 million, leading to a total of CNY 25,698.59 million[89]. - The total comprehensive income for the first half of 2023 was ¥228,945,732.17, compared to ¥894,155,191.57 in the same period of 2022, reflecting a decrease of approximately 74.4%[123]. Assets and Liabilities - The company's total assets increased by 6.72% to CNY 11,921,351,622.96 compared to CNY 11,170,758,347.22 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 1.57% to CNY 7,666,428,629.04 from CNY 7,788,934,535.32 at the end of the previous year[19]. - Total liabilities increased to RMB 3,725,248,077.53 from RMB 2,888,507,903.81, marking an increase of around 29.1%[112]. - The company's equity attributable to shareholders decreased to RMB 7,666,428,629.04 from RMB 7,788,934,535.32, a decline of about 1.6%[113]. - The total amount of related party debts was CNY 72,514.21 million, with a decrease of CNY 8,011.88 million during the reporting period[89]. Cash Flow - The net cash flow from investing activities was negative at -¥82,826,496.25, a significant decrease from -¥1,086,265,597.82 in the previous year[41]. - The net cash flow from financing activities decreased by 71.94% to ¥223,918,340.61 from ¥798,087,116.47 year-on-year[41]. - The company's cash and cash equivalents at the end of the period were ¥3,726,573,082.35, accounting for 31.26% of total assets, a slight decrease from 31.39% in the previous year[43]. - The company reported a cash and cash equivalents balance of ¥3,726,573,082.35 at the end of the first half of 2023, down from ¥4,043,867,119.53 at the end of the same period in 2022[126]. Market and Production - In the first half of 2023, the domestic caustic soda production capacity increased by 980,000 tons, bringing the total capacity to 47.56 million tons, with a cumulative production of 20.166 million tons, a year-on-year growth of 2.5%[25]. - The PVC market saw a total production of approximately 10.7 million tons in the first half of 2023, with an operating rate of about 74%, while the apparent consumption remained stable compared to the previous year[26]. - The company anticipates intensified market competition due to the imbalance of supply and demand, with new production capacity for caustic soda and PVC expected to enter the market in the second half of the year[58]. Research and Development - Research and development expenses rose by 30.23% to approximately ¥92.90 million, compared to ¥71.33 million in the previous year[40]. - The company is actively developing new materials, including the HPPO project, which marks its entry into the new materials sector and strengthens its competitive edge in the polyurethane industry[29]. - The company plans to focus on market expansion and new product development in the upcoming quarters, aiming to enhance revenue streams[120]. Environmental and Safety Management - The company emphasizes the importance of safety and environmental protection, implementing a comprehensive HSE management system to ensure stable production operations[32]. - The company achieved a 100% treatment rate for industrial waste gas and wastewater, complying with pollution discharge permit requirements[66]. - The company signed a green electricity procurement contract for 130 million kWh, which is expected to reduce carbon emissions by approximately 54,600 tons[74]. Financial Management - The company has implemented a financial risk management strategy to optimize loan structures and reduce financial costs[38]. - The total loan amount from Shanghai Huayi Group Financial Co., Ltd. is CNY 79,712.70 million, with an interest rate range of 2.90%-3.52%[92]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[63]. Shareholder Information - The largest shareholder, Shanghai Huayi Holdings Group Co., Ltd., holds 538,805,647 shares, accounting for 46.59% of the total shares[104]. - The company has allocated 120,000,000 CNY for shareholder contributions, reflecting its commitment to enhancing shareholder value[143]. - The company reported a profit distribution of CNY 462,559,990.40 to shareholders during the period[154]. Corporate Governance - The financial report was approved by the board of directors on August 7, 2023[160]. - The company has not reported any audit issues or concerns in the audit report[109]. - The company has not experienced any changes in its total share capital or share structure during the reporting period[101].

Financial Performance - The company's operating revenue for 2022 was CNY 6,364,223,852.82, a decrease of 4.50% compared to CNY 6,664,189,491.23 in 2021[22] - The net profit attributable to shareholders for 2022 was CNY 1,370,502,114.34, down 22.65% from CNY 1,771,707,582.74 in the previous year[22] - The net profit after deducting non-recurring gains and losses was CNY 1,368,761,823.74, a decrease of 22.87% compared to CNY 1,774,578,065.95 in 2021[22] - Basic earnings per share decreased by 22.65% to CNY 1.1851 in 2022 from CNY 1.5321 in 2021[24] - Weighted average return on equity fell by 10.94 percentage points to 18.57% in 2022 from 29.51% in 2021[24] - The total profit amounted to 1.504 billion RMB, down by 25.06% year-on-year[46] - The net profit attributable to shareholders was 1.371 billion RMB, a decline of 22.7% from the previous year[46] Cash Flow and Assets - The net cash flow from operating activities increased by 3.62% to CNY 1,427,601,282.93 from CNY 1,377,706,272.09 in 2021[23] - The total assets at the end of 2022 were CNY 11,170,758,347.22, representing a 20.11% increase from CNY 9,300,488,421.59 at the end of 2021[23] - The net assets attributable to shareholders increased by 13.46% to CNY 7,788,934,535.32 from CNY 6,864,775,657.24 in 2021[23] - The company reported a net cash flow from operating activities of CNY 167,129,310.89 in 2022[26] Production and Capacity - In 2022, the company achieved a production capacity of 1.02 million tons for caustic soda, 720,000 tons for dichloroethane, 600,000 tons for liquid chlorine, 200,000 tons for vinyl chloride, and 480,000 tons for polyvinyl chloride (PVC) [40] - The company has initiated a five-year rolling plan to optimize and extend its industrial chain, focusing on key projects such as a 300,000 tons/year caustic soda and a 400,000 tons/year PVC project, both of which are now in stable operation [36] - The company constructed 720,000 tons of caustic soda and 720,000 tons of dichloroethane facilities, ensuring stable supply for downstream operations[41] - The company produced 1.02 million tons of caustic soda, 720,000 tons of dichloroethane, 600,000 tons of liquid chlorine, 200,000 tons of vinyl chloride, and 480,000 tons of polyvinyl chloride[82] Market and Sales - The company is expanding its market presence in South China and Southeast Asia, optimizing product regional structure[44] - The company achieved a total revenue of approximately RMB 6.30 billion, with a year-on-year decrease of 4.62%, while revenue from international markets increased by 118.49%[96] - The company’s sales in the Chinese market decreased by 11.38%, while sales in other countries significantly increased[96] - The company increased its export ratio due to better profitability from exports during the reporting period[51] Research and Development - The company aims to enhance competitiveness by increasing R&D efforts and developing high-end green new materials[31] - Total R&D expenditure for 2022 amounted to ¥177,111,611.44, representing 2.78% of total revenue[63] - The number of R&D personnel is 151, accounting for 14.76% of the total workforce[64] - Capitalized R&D expenses for the period were ¥6,501,479.60, with a capitalization ratio of 3.67%[62] Risk Management and Compliance - There were no significant risks that materially affected the company's production and operations during the reporting period[9] - The company has established a comprehensive risk management system to enhance internal control effectiveness[147] - The company received a standard unqualified opinion in the internal control audit report for the 2022 financial report[148] - The audit committee confirmed that the financial reports are free from false records and misleading statements[136] Environmental and Safety Initiatives - The company is focused on safety and environmental protection, emphasizing HSE management to ensure stable production operations[31] - The company invested ¥50.23 million in environmental protection during the reporting period[150] - The company achieved a 100% treatment rate for industrial waste gas and wastewater[151] - The company has implemented measures to reduce VOC emissions, including installing floating covers on open wastewater pools[158] Corporate Governance - The company maintains independence from its controlling shareholder in operations, finance, and management[117] - The financial department operates independently, with a separate accounting system and independent bank accounts, ensuring autonomous financial decision-making[118] - The company has established several specialized committees, including the Audit Committee and the Strategic Committee, with specific members assigned[134] - The total remuneration for all directors, supervisors, and senior management was 9.644 million yuan[127] Shareholder Information - The largest shareholder, Shanghai Huayi Holding Group Co., Ltd., holds 46.59% of the shares, totaling 538,805,647 shares[196] - The company has a total of 86,458 ordinary shareholders as of the end of the reporting period, an increase from 85,039 at the end of the previous month[194] - The report confirms that there are no special circumstances regarding the controlling shareholders, ensuring transparency in ownership[200] Future Outlook - In 2023, the company expects a cyclical downturn in the chemical market, with weak demand and continued price pressure on most products[110] - The company plans to optimize its project layout, with the Guangxi Qinzhou 300,000 tons/year caustic soda and 400,000 tons/year PVC projects already in production, and new projects for hydrogen peroxide and polyether polyols set to start[111] - The company aims to enhance its competitive advantage by accelerating the green low-carbon manufacturing route and establishing green factories[106]

Financial Performance - The company's operating revenue for 2021 was CNY 6,664,189,491.23, representing a 36.32% increase compared to CNY 4,888,662,506.77 in 2020[23]. - The net profit attributable to shareholders was CNY 1,771,707,582.74, a significant increase of 192.03% from CNY 606,691,868.34 in the previous year[24]. - The net cash flow from operating activities reached CNY 1,377,706,272.09, marking a 237.06% increase compared to CNY 408,743,199.39 in 2020[24]. - The total assets of the company at the end of 2021 were CNY 9,300,488,421.59, which is a 49.65% increase from CNY 6,214,957,737.22 in 2020[24]. - The net assets attributable to shareholders increased to CNY 6,864,775,657.24, reflecting a 33.54% growth from CNY 5,140,749,296.66 in the previous year[24]. - Basic earnings per share increased by 192.05% to CNY 1.5321 compared to CNY 0.5246 in the previous year[25]. - The weighted average return on equity rose to 29.51%, an increase of 17.13 percentage points from 12.39% in the previous year[25]. - Total revenue for Q4 2021 reached CNY 1,998,186,411.88, with net profit attributable to shareholders at CNY 628,184,331.76[27]. Operational Highlights - The company reported a significant increase in revenue and net profit due to increased production and rising product prices as the domestic economy recovered from the pandemic[25]. - The company completed key projects on schedule, including a 200,000 tons/year vinyl chloride project and a PVC special resin upgrade project, which began production in the second half of 2021[37]. - The company is advancing its digital transformation by leveraging industrial internet and big data analytics to enhance operational efficiency[37]. - The company is focusing on R&D in three main areas: chlorine and hydrogen chloride new products, special resins, and polyether polyols[37]. - The company has established a strong international sales platform and maintains a high market share in the domestic dichloroethane market[44]. Cost and Revenue Management - Operating costs amounted to RMB 4.54 billion, reflecting an 11.89% increase year-on-year[47]. - The gross profit margin for the industrial sector increased by 16.30 percentage points to 39.90%[50]. - The gross profit margin for chlor-alkali products was 41.70%, an increase of 20.21 percentage points compared to the previous year[50]. - The company’s sales revenue from the Chinese market was RMB 6.26 billion, with a gross profit margin of 32.10%[50]. - The company aims to optimize its product sales structure and enhance profitability by integrating marketing resources and adopting a differentiated marketing strategy for its PVC products[77]. Research and Development - Research and development expenses rose to RMB 169.90 million, marking a 40.52% increase year-on-year[47]. - The number of R&D personnel was 164, making up 16.50% of the total workforce, with a significant portion holding master's degrees[61]. - The company is actively pursuing the development of high-end polyether products through integrated research on epoxy propane and polyurethane, expanding into new material synthesis and application fields[79]. - The company is focusing on technology innovation, particularly in new products and processes related to chlorine and hydrogen chloride, specialty resins, and polyether polyols[107]. Environmental and Safety Compliance - The company achieved a 100% industrial waste gas treatment rate and a 100% industrial wastewater treatment rate in 2021[143]. - The company received the title of "Green Factory" from the Ministry of Industry and Information Technology at the end of 2021[151]. - The company implemented a VOCs 2.0 governance plan to further reduce VOCs emissions, with ongoing projects for wastewater and waste gas treatment[152]. - The company has a comprehensive emergency response plan for environmental incidents, with no major pollution accidents reported in 2021[148]. - The company is committed to green low-carbon manufacturing, aiming to establish itself as a leader in digitalization within the chemical industry[103]. Governance and Management - The company has established independent financial, personnel, and operational structures, ensuring no interference from the controlling shareholder[113]. - The company has a diverse management team with extensive experience in various sectors, including finance, technology, and operations[117][118]. - The board includes independent directors with backgrounds in academia and industry, enhancing governance and strategic oversight[117][118]. - The company has maintained its leadership structure without significant changes in personnel during the reporting period[116]. - The company has implemented a salary and performance evaluation system for senior management[139]. Financial Audit and Compliance - The audit report confirmed that the financial statements fairly present the company's financial position as of December 31, 2021, in accordance with accounting standards[195]. - Key audit matters included the recognition of sales revenue, which is critical for assessing the company's financial performance and involves various internal controls[197]. - The management is responsible for ensuring the financial statements are free from material misstatement due to fraud or error, emphasizing the importance of internal controls[200]. - The audit procedures included testing the effectiveness of internal controls related to revenue recognition and verifying sales contracts and invoices[198]. Market and Industry Trends - The demand for caustic soda products is expected to grow rapidly due to new urbanization and consumption upgrades in China[102]. - The chlor-alkali industry in China is seeing a clearer layout, with 81% of the caustic soda production capacity concentrated in North China, Northwest, and East China regions[101]. - The domestic caustic soda production capacity is primarily concentrated in North China, Northwest China, and East China, which together account for 81% of the total capacity[75]. - The company is set to launch the 200,000 tons/year vinyl chloride project and the PVC specialty resin upgrade project, with the Guangxi Qinzhou project expected to commence operations in Q4 2022[106].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥2,996,222,100.76, representing a 39.43% increase compared to ¥2,148,871,906.59 in the same period last year[19]. - Net profit attributable to shareholders of the listed company was ¥666,126,325.37, a significant increase of 354.69% from ¥146,502,277.40 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥667,743,631.51, reflecting a 354.94% increase compared to ¥146,775,579.47 in the same period last year[19]. - The net cash flow from operating activities was ¥236,068,327.96, up 29.04% from ¥182,935,443.37 in the previous year[19]. - Basic earnings per share increased by 354.62% to CNY 0.5760 compared to CNY 0.1267 in the same period last year[20]. - The weighted average return on equity rose to 12.1693%, up 9.07 percentage points from 3.0995% year-on-year[20]. - Operating profit for the first half of 2021 was ¥756,398,519.63, significantly up from ¥167,061,154.71 in the first half of 2020, representing a growth of 353.5%[108]. - Net profit for the first half of 2021 was ¥664,677,820.87, compared to ¥145,865,565.14 in the same period of 2020, marking an increase of 354.5%[108]. Revenue and Market Conditions - The company's revenue and net profit significantly increased due to effective control of the COVID-19 pandemic and the continuous recovery of the domestic economy[20]. - The average operating load rate of domestic chlor-alkali enterprises increased to 79.41%, up 2.86 percentage points from 76.55% in the same period last year[25]. - The cumulative production of caustic soda reached 19.26 million tons, representing a year-on-year growth of 10.8%[25]. - The domestic PVC market remained active, with prices supported by global supply shortages and domestic inventory declines[26]. - The company is actively monitoring market trends and adjusting sales strategies to maximize profitability[31]. Investments and Projects - The company is advancing the Qinchuan caustic soda and PVC project, with design, procurement, and construction progressing smoothly[31]. - The 200,000 tons/year VCM project has completed mid-term handover work and is set to commence trial production by the end of August 2021[31]. - The company has invested ¥51,674 million in a 200,000 tons/year PVC project, which is expected to commence operations by the end of August 2021[43]. - The special resin upgrade project has been successfully completed with an investment of ¥17,252 million, producing qualified products as of July 28, 2021[43]. - The company has a total of 8.44553 billion RMB in related party debts, with a net change of -526.03 million RMB during the reporting period[75]. Financial Position - Total assets grew to ¥7,437,952,681.05, marking a 19.68% increase from ¥6,214,957,737.22 at the end of the previous year[19]. - Cash and cash equivalents at the end of the period amounted to ¥2,541,706,482.32, representing 34.17% of total assets, an increase of 14.44% compared to the previous year[36]. - Total liabilities amounted to ¥1,554,095,582.85, up from ¥939,319,363.98, marking an increase of approximately 65.3%[101]. - Shareholders' equity increased to ¥5,883,857,098.20 from ¥5,275,638,373.24, representing a growth of about 11.5%[101]. - The company reported a significant increase in short-term borrowings, totaling ¥505,103,761.81, which is 32.50% of total liabilities, attributed to increased project financing[36]. Research and Development - Research and development expenses rose by 36.37% to ¥55,339,728.28, reflecting a higher investment in R&D compared to ¥40,579,417.29 in the previous year[34]. - The company is focusing on high-end product development through technology innovation, particularly in chlorine consumption and hydrochloric acid, specialty resins, and polyether polyols[31]. Environmental and Safety Measures - The company has implemented strict safety and environmental measures, achieving good results in HSE target indicators for the first half of 2021[30]. - The company has implemented various pollution control measures, including waste gas treatment facilities and wastewater treatment systems, to comply with environmental regulations[57]. - The company has established an emergency response plan for environmental incidents, completed in 2020[59]. - The company is actively participating in the Ministry of Industry and Information Technology's evaluations for green factories and green design products[61]. Shareholder Information - Total number of common shareholders as of the end of the reporting period is 76,407[88]. - The largest shareholder, Shanghai Huayi (Group) Company, holds 538,805,647 shares, representing 46.59% of total shares[90]. - The second largest shareholder, Vanguard Emerging Markets Stock Index Fund, increased its holdings by 195,200 shares to a total of 7,634,490 shares, accounting for 0.66%[90]. Accounting Policies and Compliance - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status as of June 30, 2021[139]. - The company confirms that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months from the reporting date[137]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[129].

Financial Performance - Net profit attributable to shareholders increased by 292.04% to CNY 345,585,062.88 compared to the same period last year[8] - Operating revenue rose by 34.63% to CNY 1,547,218,556.09 year-on-year[8] - Basic earnings per share increased by 292.13% to CNY 0.2988[8] - The net profit after deducting non-recurring gains and losses was CNY 346,718,183.23, reflecting a 290.35% increase year-on-year[8] - Net profit for Q1 2021 was ¥345,075,189.54, representing a 292.05% increase from ¥88,018,207.15 in the same period last year[18] - Operating profit for Q1 2021 reached CNY 392 million, compared to CNY 102 million in the same period last year, reflecting a significant growth[30] - The company reported a net profit increase, with retained earnings rising to CNY 2,238,451,691.93 in Q1 2021 from CNY 1,893,757,595.87 in Q1 2020, reflecting a growth of about 18.2%[27] Revenue and Sales - Total operating revenue for Q1 2021 reached CNY 1,547,218,556.09, a significant increase from CNY 1,149,265,438.78 in Q1 2020, representing a growth of approximately 35%[29] - The company’s sales revenue from goods and services in Q1 2021 was CNY 1,175,491,338.21, up from CNY 1,042,326,710.60 in Q1 2020, reflecting a growth of 12.7%[36] Assets and Liabilities - Total assets increased by 11.32% to CNY 6,918,494,066.61 compared to the end of the previous year[8] - Total liabilities increased to CNY 1,164,086,525.12, up from ¥805,730,882.51 in the previous year, reflecting higher accounts payable and short-term borrowings[22] - Total assets as of March 31, 2021, amounted to CNY 6,258,284,024.89, compared to CNY 5,796,993,455.18 at the end of 2020, indicating an increase of about 8%[27] - Total liabilities increased to CNY 876,174,215.15 in Q1 2021 from CNY 758,322,164.68 in Q1 2020, reflecting a growth of approximately 15.6%[27] Cash Flow - Net cash flow from operating activities was CNY 142,089,640.65, a significant recovery from a negative cash flow of CNY -81,227,292.61 in the previous year[8] - The company's cash flow from operating activities improved significantly, with a net inflow of ¥142,089,640.65, an increase of ¥223,316,933.26 compared to the previous year[19] - In Q1 2021, the company's operating cash inflow was CNY 1,182,550,178.93, an increase of 12.5% compared to CNY 1,050,823,721.88 in Q1 2020[36] - The total cash outflow for operating activities was CNY 1,040,460,538.28, a decrease of 8.1% from CNY 1,132,051,014.49 in the previous year[36] Investment and R&D - Research and development expenses increased by 39.64% to ¥28,912,711.90, reflecting the company's commitment to enhancing R&D efforts[17] - The company reported a significant increase in investment income, which rose by 701.91% to ¥80,424,071.81, attributed to improved profits from joint ventures[17] - The company invested CNY 304,957,540.90 in fixed assets and other long-term assets in Q1 2021, significantly higher than CNY 44,017,308.52 in Q1 2020[37] Shareholder Information - The number of shareholders reached 78,526 at the end of the reporting period[12] - The largest shareholder, Shanghai Huayi (Group) Company, holds 46.59% of the shares[12] Market Strategy - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[28] - The company plans to continue investing in new technologies and potential acquisitions to strengthen its competitive position in the market[28]

Financial Performance - In 2020, the company's operating revenue was CNY 4,888,662,506.77, a decrease of 24.37% compared to CNY 6,463,773,437.12 in 2019[19] - The net profit attributable to shareholders was CNY 606,691,868.34, down 25.19% from CNY 810,931,250.03 in the previous year[19] - The net cash flow from operating activities was CNY 408,743,199.39, representing a decline of 52.89% compared to CNY 867,716,933.31 in 2019[19] - The basic earnings per share for 2020 was CNY 0.5246, a decrease of 25.20% from CNY 0.7013 in 2019[20] - The weighted average return on equity decreased by 6.59 percentage points to 12.3877% in 2020 from 18.9752% in 2019[20] - The company reported a decrease in net profit due to the impact of the pandemic and a weak market environment[20] - The total profit for the period was CNY 0.665 billion, down by CNY 0.189 billion year-on-year[45] - The operating cost was CNY 4.058 billion, reflecting a decrease of 23.93% year-on-year[46] - The gross profit margin for the industrial segment was 23.60%, a decrease of 2.12 percentage points year-on-year[49] Production and Capacity - The total production capacity for caustic soda reached 720,000 tons, with similar capacities for other products like dichloroethane and liquid chlorine, indicating a robust production capability[30] - The PVC production capacity in China was reported at 2.664 million tons by the end of 2020, with a net increase of 146,000 tons, reflecting ongoing industry growth despite market challenges[33] - The production volume of PVC products was 3.257 million tons, a decrease of 9.43% year-on-year, while sales volume was 3.212 million tons, down 12.57%[50] - The company maintained a stable production of chlorine products with a production volume of 139.797 million tons, down 7.76% year-on-year[51] - The total production capacity of caustic soda in China reached 44.7 million tons, with a net increase of 0.9 million tons in 2020[70] Investments and Projects - The company has initiated the construction of a 300,000 tons/year caustic soda and a 400,000 tons/year PVC project in Guangxi Qinzhou, which are key measures for further integrating into the group's strategic development[40] - The company is investing in a 200,000 tons/year vinyl chloride and a 60,000 tons/year specialty resin project in Shanghai Chemical Zone, and a 300,000 tons/year caustic soda and a 400,000 tons/year PVC project in Guangxi Qinzhou[77] - The company plans to enhance its procurement flexibility for ethylene raw materials through the operation of a low-temperature ethylene tank, which is expected to stabilize supply capabilities[31] - The company is planning to start construction on a 30,000 tons/year HCl recovery project in 2022, with trial production expected in 2023[97] Market Position and Strategy - The company operates an integrated business model in the chemical park, enhancing resource efficiency and reducing logistics costs to zero, which strengthens its competitive advantage[31] - The company has established a strong international sales platform and raw salt import platform, leveraging its first-mover advantage in exporting caustic soda[36] - The company is focusing on high-end product markets and optimizing product and customer structures through differentiated marketing strategies[36] - The company is actively pursuing overseas business development and implementing a "going out" strategy to optimize and extend its industrial chain[103] - The company recognizes the potential risks from global trade tensions and their impact on the chlor-alkali industry's exports and raw material imports[109] Research and Development - Research and development expenses for the current period totaled approximately ¥120.90 million, accounting for 2.47% of total revenue[62] - The company has focused its R&D efforts on new products and processes related to chlorine consumption and hydrochloric acid, special resins, and polyether polyols[63] - The company has applied for 2 new Chinese invention patents and has accumulated a total of 8 authorized patents related to the core technology of the hydrochloric acid recovery project[35] Corporate Governance - The company has established a strategic development department to enhance its market positioning and operational efficiency[161] - The company has implemented a performance evaluation mechanism for senior management, with the remuneration standards determined by the board's compensation and assessment committee[176] - The company’s governance structure includes a mix of internal and external directors to ensure balanced oversight[160] - The company has a structured board with specialized committees, including strategy, investment review, audit, nomination, and compensation and assessment committees[173] Environmental and Social Responsibility - The company achieved a 100% industrial waste gas treatment rate and a 100% industrial wastewater treatment rate, meeting all discharge permit requirements[138] - The company actively participated in social responsibility initiatives, providing free disinfectant to over 1,856 key units during the pandemic[44] - The company has established a comprehensive environmental safety emergency management system, with no major environmental pollution incidents reported in 2020[140] Shareholder Information - The total number of ordinary shareholders increased from 78,526 to 79,688 during the reporting period[146] - The largest shareholder, Shanghai Huayi (Group) Company, holds 538,805,647 shares, representing 46.59% of total shares[148] - The company has not disclosed any significant related party transactions that would affect its operations[121] - The company has not faced any risks of suspension or termination of listing during the reporting period[120]

Financial Performance - Net profit attributable to shareholders decreased by 46.26% to CNY 338,103,652.46 for the first nine months of the year[6]. - Operating revenue for the first nine months dropped by 32.81% to CNY 3,442,365,989.37 compared to the same period last year[6]. - Basic earnings per share fell by 46.25% to CNY 0.2924[6]. - Operating profit fell by 44.03% to ¥373,366,371.24 compared to ¥667,106,559.52 in the previous year[14]. - Net profit decreased by 46.34% to ¥337,487,315.10 from ¥628,896,567.86 year-on-year[14]. - Total operating revenue for Q3 2020 reached approximately 4.59 billion, an increase from 3.16 billion in Q3 2019, representing a growth of about 45% year-over-year[27]. - Net profit for Q3 2020 was approximately 191.62 million, compared to 170.24 million in Q3 2019, reflecting a year-over-year increase of about 12.8%[28]. - The company reported a total profit of approximately 206.70 million for Q3 2020, up from 194.22 million in the same quarter last year, marking an increase of about 6.4%[28]. - The company reported a net profit margin decline due to reduced revenue, with net profit figures not specified in the provided data[26]. Cash Flow - Net cash flow from operating activities decreased by 15.79% to CNY 419,434,800.89 for the first nine months[6]. - Cash flow from operating activities decreased by ¥78,669,434.60 to ¥419,434,800.89 compared to ¥498,104,235.49 in the same period last year[15]. - Total cash inflow from operating activities for the first nine months of 2020 was CNY 2,722,776,904.71, compared to CNY 3,576,371,683.30 in the same period of 2019, indicating a decrease of about 24%[38]. - The net cash flow from operating activities for Q3 2020 was CNY 419,434,800.89, a decrease from CNY 498,104,235.49 in Q3 2019, reflecting a decline of approximately 15%[36]. - The total cash outflow from operating activities for the first nine months of 2020 was CNY 2,378,052,551.15, compared to CNY 3,048,533,273.60 in the same period of 2019, indicating a decrease of about 22%[38]. Assets and Liabilities - Total assets increased by 8.91% to CNY 6,244,659,717.75 compared to the end of the previous year[6]. - Total liabilities rose to CNY 1,227,870,210.36 in Q3 2020, up from CNY 1,079,458,535.83 in Q3 2019, marking an increase of 13.7%[22]. - The company's total equity increased to CNY 5,016,789,507.39 in Q3 2020 from CNY 4,654,582,945.84 in Q3 2019, reflecting a growth of 7.8%[22]. - The total non-current assets increased to CNY 3,130,584,558.49 in Q3 2020 from CNY 2,922,710,895.66 in Q3 2019, an increase of 7.1%[24]. - The company holds long-term equity investments valued at CNY 586,681,705.29 and other equity investments at CNY 512,780,133.99[41]. - Total liabilities reached CNY 1,079,458,535.83, with current liabilities at CNY 946,614,147.30 and non-current liabilities at CNY 132,844,388.53[42]. Shareholder Information - The total number of shareholders reached 81,307 by the end of the reporting period[10]. - The largest shareholder, Shanghai Huayi (Group) Company, holds 46.59% of the shares[10]. Government Support - The company received government subsidies amounting to CNY 3,359,628.03 during the reporting period[7]. Research and Development - Research and development expenses decreased by 28.63% to ¥77,137,263.98 from ¥108,087,980.91 in the previous year[14]. - Research and development expenses for Q3 2020 amounted to approximately 36.56 million, compared to 33.42 million in Q3 2019, indicating an increase of about 6.4%[27]. Investment Income - The company achieved an investment income of approximately ¥57.93 million in Q3 2020, an increase of 43.7% from ¥40.31 million in Q3 2019[31]. - The company received CNY 185,295,540.20 in investment income during Q3 2020, compared to CNY 224,384,488.82 in Q3 2019, marking a decline of approximately 17%[37]. Comprehensive Income - The total comprehensive income for Q3 2020 was approximately 193.68 million, compared to 169.29 million in Q3 2019, indicating a growth of about 14.4%[30]. - The company reported a comprehensive income total of approximately ¥189.42 million for Q3 2020, compared to ¥166.79 million in Q3 2019, reflecting a growth of 13.5%[33].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,148,871,906.59, a decrease of 23.20% compared to ¥2,798,072,366.58 in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2020 was ¥146,502,277.40, down 68.05% from ¥458,593,448.72 in the previous year[22]. - Basic earnings per share for the first half of 2020 were ¥0.1267, a decrease of 68.05% from ¥0.3966 in the same period last year[23]. - The overall profitability of the chlor-alkali industry has significantly decreased compared to the same period last year, despite a better performance in the second quarter compared to the first[35]. - The company reported a total comprehensive income of CNY 145,092,621.51 for the first half of 2020, compared to CNY 464,352,327.81 in the same period of 2019, indicating a decline of about 68.8%[103]. Cash Flow and Investments - The net cash flow from operating activities increased by 14.99% to ¥182,935,443.37 compared to ¥159,083,353.87 in the same period last year[22]. - The net cash flow from investing activities improved significantly to ¥85,315,615.57, a change from a negative ¥52,311,210.40 in the previous year[42]. - The net cash flow from financing activities rose by 48.10% to ¥134,458,846.89 from ¥90,791,280.84 year-on-year[42]. - The company’s cash and cash equivalents increased to ¥2,305,265,959.85, representing a 60.72% growth compared to ¥1,434,299,088.58 in the previous period[45]. - The company reported a significant increase in estimated liabilities, rising by 177.22% to ¥2,306,401.49, attributed to an increase in litigation-related provisions[45]. Operational Efficiency - The integrated business model in the chemical park has improved resource efficiency and reduced logistics costs to zero, enhancing the company's competitive advantage[29]. - The company has established a complete ERP system to optimize operational processes and improve core competitiveness[32]. - The company emphasizes quality and efficiency improvements, aiming for full-load high-efficiency operations and deep integration of production, learning, and research[35]. - The company is focusing on enhancing safety management and stabilizing production operations as part of its strategic initiatives[40]. Market Conditions and Challenges - The decline in performance was attributed to a decrease in operating rates and continuous price drops of main products due to the impact of public health events[23]. - The domestic caustic soda market faced downward pressure due to reduced downstream demand and inventory pressure, while PVC prices showed volatility influenced by downstream processing enterprises[30]. - Product price volatility is expected, with limited support for caustic soda prices due to downstream demand and increased market competition[56]. - Raw material price fluctuations, particularly for ethylene, may impact operational performance amid recovering domestic demand and potential pandemic uncertainties[56]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 82,626[83]. - The top shareholder, Shanghai Huayi (Group) Company, holds 538,805,647 shares, representing 46.59% of total shares[84]. - The company did not propose any profit distribution or capital reserve conversion plans for the half-year[58]. - The company has no new major equity or non-equity investments during the reporting period[51]. Environmental and Regulatory Compliance - The company has constructed and operates two incinerators and multiple absorption towers for waste gas treatment in its production areas[74]. - The company has implemented a self-monitoring plan for pollutant emissions in accordance with environmental regulations[77]. - The company completed the emergency response plan for environmental incidents in the Huasheng area as of January 8, 2020[76]. Corporate Governance - The company has undergone changes in its board of directors, with new appointments including Gu Lili as chairman and Li Ning as chair of the supervisory board[87]. - The company has not faced any penalties or corrective actions related to its directors, supervisors, or major shareholders[60]. - There are no updates on the company's stock incentive plans or employee shareholding plans[60]. Accounting and Financial Reporting - The company's financial statements comply with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status[139]. - The company adopts RMB as its functional currency for accounting purposes[142]. - The company recognizes revenue when control of goods or services is transferred to the customer, which is defined as the ability to direct the use and obtain almost all economic benefits from the goods or services[198].

Financial Performance - Net profit attributable to shareholders decreased by 61.03% to CNY 88,151,109.17 compared to the same period last year[6]. - Operating revenue declined by 20.71% to CNY 1,149,265,438.78 compared to the previous year[6]. - Basic earnings per share dropped by 61.04% to CNY 0.0762 compared to the same period last year[6]. - Operating profit fell by 60.70% to ¥101,800,671.34, with net profit declining by 61.09% to ¥88,018,207.15 compared to the same period last year[15]. - Total comprehensive income for Q1 2020 was ¥86,119,098.36, compared to ¥235,207,596.64 in Q1 2019, indicating a significant decline[30]. - The company reported a total non-recurring loss of CNY -672,388.22 for the period[8]. - The company reported a net profit margin decline due to reduced revenue, reflecting challenges in the market[25]. Assets and Liabilities - Total assets increased by 5.86% to CNY 6,069,963,116.23 compared to the end of the previous year[6]. - Total liabilities reached CNY 850,342,176.27, up from CNY 812,845,468.74 in the previous period[23]. - Total assets as of March 31, 2020, amounted to CNY 5,512,624,044.94, an increase from CNY 5,389,008,239.05 at the end of 2019[23]. - Total current liabilities included accounts payable of CNY 358,592,653.12 and employee compensation payable of CNY 46,101,339.21[39]. - Non-current liabilities totaled CNY 132,844,388.53, with long-term employee compensation liabilities at CNY 95,480,000.00[39]. Cash Flow - Net cash flow from operating activities was negative at CNY -81,227,292.61, showing an improvement from CNY -87,192,207.39 in the previous year[6]. - The net cash flow from operating activities was negative at CNY -81,227,292.61, slightly improved from CNY -87,192,207.39 in the same period last year[33]. - The company reported a net cash inflow from investment activities of CNY 120,982,691.48, compared to a net outflow of CNY -54,350,523.75 in Q1 2019[34]. - Cash inflow from financing activities totaled CNY 260,000,000.00, an increase of 52.5% from CNY 170,000,000.00 in Q1 2019[34]. - The net increase in cash and cash equivalents for the quarter was CNY 297,011,821.63, significantly higher than CNY 23,137,377.57 in Q1 2019[34]. Shareholder Information - The total number of shareholders reached 84,853 by the end of the reporting period[10]. - The largest shareholder, Shanghai Huayi (Group) Company, holds 46.59% of the shares[10]. - Shareholders' equity totaled CNY 4,662,281,868.67, compared to CNY 4,576,162,770.31 at the end of 2019, reflecting an increase of 1.9%[23]. Research and Development - Research and development expenses decreased by 34.72% to ¥20,705,453.13, as key projects were still in the early stages[14]. - Research and development expenses were ¥20,705,453.13, a decrease of 34.7% compared to ¥31,718,955.89 in the previous year[30]. Future Outlook - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams[25].