Group 1 - The core viewpoint of the report emphasizes the importance of reviewing the full semi-annual report for a comprehensive understanding of the company's operational results, financial status, and future development plans [1][4]. - The board of directors and senior management guarantee the authenticity, accuracy, and completeness of the semi-annual report, taking legal responsibility for any false statements or omissions [1][6]. - The company will not distribute profits or increase capital reserves through stock issuance for the fiscal year 2025 [4]. Group 2 - The company is identified as Inner Mongolia Jinmei Chemical Technology Co., Ltd., with stock codes 600844 and 900921 [5]. - The report includes a section on major financial data, although specific figures are not provided in the excerpts [5]. - There are no changes in the controlling shareholder or actual controller during the reporting period [5].

专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 按年龄来看，化学原料行业CFO年龄普遍超过（含）40岁，年龄最小的为善水科技CFO游茂源，1991年 生，现年34岁。2024年，游茂源薪酬为29.09万元，仅是行业平均薪酬的37.01%。 工龄最长的为柳化股份CFO黄吉忠，自2007年5月10日至2025年5月16日任职长达18年之久。2024年，黄 吉忠年薪37.26万元，同比下降8.9%，不到行业平均薪酬的一半。公司经营业绩层面，2024年柳化股份 实现营业收入1.65亿元，同比增长16.2%，净利润0.30亿元，同比下降58.8%。 按薪酬高低来看，CFO年薪超过百万的上市公司共10家，占塑料行业上市公司总数的23.81%。 宝丰能源CFO高宇薪酬最高，达299.29万元，约是行业平均薪酬的3.8倍，相当于日薪1.2万元；上年薪 酬为285.15万元，同比增长5%。公司经营业绩层面，2024年宝丰能源实现营业收入329.83亿元，同比增 长13.2%，净利润63.38亿元，同比增长12.2%。 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要 ...

Core Viewpoint - The company, Danhua Chemical Technology Co., Ltd., is proposing to change its name to Inner Mongolia Jinmei Chemical Technology Co., Ltd. and amend its articles of association accordingly, reflecting its new registered and operational address in Hohhot, Inner Mongolia, and its primary business activities through its subsidiary Tongliao Jinmei Chemical Co., Ltd. [1][7][10] Group 1: Company Name Change Proposal - The company will hold its 2024 annual general meeting on June 27, 2025, where the name change proposal will be discussed [1][5]. - The proposal to change the company name is based on the relocation of its registered and operational address from Danyang, Jiangsu Province, to Hohhot, Inner Mongolia [7][10]. - The name change requires approval from the annual general meeting and subsequent registration with market supervision authorities to take effect [2][10]. Group 2: Temporary Proposal Details - The proposal to change the company type from "Joint Stock Company (Sino-Foreign Joint Venture, Listed)" to "Joint Stock Company (Foreign Investment, Listed)" is also included in the temporary proposals for the annual general meeting [9][10]. - The proposal was submitted by Inner Mongolia Jinrui Hongji Enterprise Management Co., Ltd., which holds 15% of the company's shares [6][8]. - The company management is authorized to handle the necessary registration changes with the relevant market supervision authorities upon approval [10].

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.3025 | -0.3866 | 21.75 | -0.2882 | | 每股净资产（元） | 0.23 | 0.53 | -56.6 | 0.92 | | 每股公积金(元) | 1.73 | 1.73 | 0 | 1.73 | | 每股未分配利润(元) | -2.56 | -2.26 | -13.27 | -1.87 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 7.7 | 8.61 | -10.57 | 9.34 | | 净利润(亿元) | -3.08 | -3.93 | 21.63 | -2.93 | | 净资产收益率(%) | -79.95 | -53.32 | -49.94 | -27.04 | 三、分红送配方案情况 不分配不转增 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 32391.2万股，累计占流通股比 ...

Financial Performance - The company's operating revenue for the first half of 2024 was ¥399,565,376.40, a decrease of 19.91% compared to ¥498,911,846.49 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was -¥111,824,973.29, compared to -¥87,145,133.83 in the previous year, indicating a worsening financial performance[14]. - The net cash flow from operating activities was -¥59,275,425.14, significantly lower than -¥3,775,079.31 in the same period last year[14]. - The total assets at the end of the reporting period were ¥1,420,292,017.35, a decrease of 3.04% from ¥1,464,832,687.81 at the end of the previous year[14]. - The net assets attributable to shareholders of the listed company decreased by 21.27% to ¥425,317,591.87 from ¥540,194,036.02 at the end of the previous year[14]. - The company reported a basic earnings per share of -0.1100 RMB for the first half of 2024, a decrease from -0.0857 RMB in the same period last year[15]. - The weighted average return on equity was -23.1639%, down 20.7154 percentage points compared to -2.4485% in the previous year[15]. - The company reported a net loss of -9,006,953.50 RMB for the first half of 2024, compared to a net loss of -1,358,869.89 RMB in the same period of 2023[73]. - The company's comprehensive loss totaled CNY 145,322,872.38, compared to a loss of CNY 113,320,103.82 in the same period last year[70]. Operational Challenges - The company faces significant risks including policy, market, and operational risks, as detailed in the report[5]. - The company faced significant operational pressure, with cash flow still in deficit and ongoing needs for capital expenditure on technological upgrades[20]. - The company has not distributed dividends or increased capital reserves, indicating a focus on financial stability[36]. - The company has initiated a 100,000-ton oxalic acid expansion project, with preliminary technical service contracts signed and project approval completed[21]. - The company is actively seeking financing options to support normal production and has received commitments from new controlling shareholders for financial backing if necessary[20]. - The company has implemented cost control measures, optimizing organizational structure and reducing procurement costs[21]. Environmental Compliance - The company has not experienced any environmental pollution incidents in the first half of 2024, achieving its environmental protection goals[21]. - Environmental compliance is being met, with sulfur dioxide emissions totaling 123.33 tons and nitrogen oxides at 121.96 tons in the first half of 2024[37]. - The company has implemented new pollution control measures, including a new online monitoring system for its boilers[38]. - A new emergency response plan for environmental incidents has been established and registered with local authorities[39]. - The company has installed online monitoring systems for emissions and wastewater treatment, with normal operation reported[40]. Shareholder and Governance Issues - The company does not plan to distribute profits or increase capital reserves through stock conversion for the 2024 interim period[4]. - The company has committed to not reducing shareholdings for three years as of March 29, 2024[44]. - The company has initiated three lawsuits related to shareholder interest disputes, with claims totaling 124.28 million yuan and 14.22 million yuan[46]. - The company received adverse judgments in the first instance for two lawsuits, with claims dismissed due to insufficient evidence[46]. - The company is appealing the adverse judgments from the first instance in the higher court[46]. - The company is undergoing a leadership transition, with significant changes in the board and management personnel[33]. Financial Position and Liabilities - The total amount of restricted assets at the end of the reporting period was ¥107,844,491.86, primarily due to litigation and loan collateral[25]. - The total liabilities increased from ¥685,498,080.60 to ¥786,280,282.52, an increase of about 14.7%[64]. - The company's total liabilities increased significantly, impacting its overall financial stability and cash flow management[78]. - The company has secured new borrowings of 30 million RMB and renewed loans of 20 million RMB to support its operations[88]. - The controlling shareholder has provided financial support by extending a total of 151 million RMB in loans until March 31, 2026[88]. - The company is set to receive operational liquidity support of up to 300 million RMB from its new controlling shareholder[88]. Inventory and Receivables Management - The inventory increased by 38.40% to ¥87,008,398.93 from ¥62,866,353.17, indicating a rise in stock of goods[24]. - The company has accounts receivable totaling ¥56,482,271.55, slightly down from ¥57,120,075.11 at the beginning of the period[160]. - The company has recognized bad debt provisions amounting to ¥34,109,359.73, which represents a significant portion of the accounts receivable[161]. - The company has a bad debt provision rate of 54.15% for accounts receivable, indicating a cautious approach to credit risk management[162]. - The total balance of other receivables at the end of the period is CNY 121,915,932.72, a decrease from CNY 122,774,671.74 at the beginning of the period, reflecting a reduction of approximately 0.7%[175][177]. Investment and Capital Expenditure - The company has recognized a total impairment provision of 24,617,574.33 RMB for long-term equity investments due to project terminations and related litigation losses[189]. - The total balance of long-term equity investments at the end of the period is 139,248,550.04 RMB, with a provision for impairment of 132,756,482.32 RMB[188]. - The company has made additional investments in long-term equity amounting to 0 RMB during the period, while the investment loss recognized under the equity method is 744,346.04 RMB[188]. - The company reported a decrease in the balance of other equity instrument investments to 25,425,886.64 RMB, down from 31,027,870.62 RMB at the beginning of the period, indicating a reduction of approximately 18.1%[190]. Accounting and Financial Reporting - The report was not audited, and all board members attended the board meeting to ensure the accuracy and completeness of the financial report[3]. - The company applies different accounting treatments for mergers under common control and those not under common control[95]. - The company recognizes revenue when the customer obtains control of the goods, which includes conditions such as contract approval and payment terms being clear[139]. - The company assesses inventory impairment based on the lower of cost and net realizable value, requiring management judgment on the salability of inventory[150]. - The company recognizes provisions for expected liabilities based on contract terms and historical experience, which may impact future financial results[151].

Financial Performance - The company's operating revenue for 2023 was approximately ¥861.08 million, a decrease of 7.79% compared to ¥933.82 million in 2022[22]. - The net profit attributable to shareholders of the listed company was approximately -¥392.95 million, compared to -¥292.98 million in the previous year, indicating a worsening performance[22]. - The total assets at the end of 2023 were approximately ¥1.46 billion, a decrease of 21.34% from ¥1.86 billion in 2022[23]. - The net cash flow from operating activities was approximately -¥94.17 million, a decline of 106.54% compared to -¥45.59 million in 2022[23]. - The company reported a basic and diluted earnings per share of -0.3866 CNY for 2023, compared to -0.2882 CNY in 2022, indicating a decline[24]. - The weighted average return on equity decreased to -53.32% in 2023 from -27.04% in 2022, a drop of 26.28 percentage points[24]. - The company reported a net loss attributable to shareholders for the third quarter was -88.76 million CNY, and for the fourth quarter, it was -217.05 million CNY[26]. - The company reported a significant increase in other receivables, rising to CNY 34,578,502.11 from CNY 32,466,432.52 in the previous year[180]. - The company’s retained earnings showed a negative balance of CNY -879,811,049.82, worsening from CNY -870,782,200.18 in the previous year[182]. - The company reported a net loss of CNY 503,420,745.74 for the year 2023, compared to a net loss of CNY 377,970,058.69 in 2022, representing an increase in loss of approximately 33.2%[185]. Assets and Liabilities - The total assets as of December 31, 2023, were CNY 2,778,257,682.15, slightly down from CNY 2,780,289,240.22 in 2022[182]. - The total liabilities amounted to CNY 261,423,924.09, an increase from CNY 252,489,963.43 in the previous year[181]. - The company's equity attributable to shareholders decreased to CNY 2,516,833,758.06 from CNY 2,527,799,276.79 in 2022[182]. - The total liabilities increased to ¥685,498,080.60 from ¥578,748,695.53, reflecting a rise of 18.4%[177]. - The company's total equity at the end of 2023 was reported at 1,283,338,430.42 RMB, reflecting changes in retained earnings and other comprehensive income[198]. Cash Flow - The company experienced a net cash outflow from operating activities of CNY 94,169,483.13, worsening from a net outflow of CNY 45,594,169.39 in 2022[191]. - The cash inflow from operating activities decreased to CNY 860,544,738.13 from CNY 977,155,090.15 in the previous year, indicating a decline in operational cash generation[191]. - The net cash flow from financing activities was 93,901,861.11 RMB, a substantial increase from -3,814,500.00 RMB in 2022, driven by increased borrowings and cash inflows from financing[195]. - The total cash and cash equivalents at the end of 2023 decreased to 163,364.20 RMB from 414,836.63 RMB at the end of 2022, indicating a decline in liquidity[195]. Production and Sales - The company maintained stable production with 332 days of operation in 2023, achieving completion rates of 89.47% for ethylene glycol and 105.52% for oxalic acid[34]. - The sales volume of ethylene glycol reached 137,200 tons, an increase of 8.93% year-on-year, while the sales volume of oxalic acid was 100,300 tons, up 3.21% year-on-year[40]. - The production capacity utilization rate for ethylene glycol was 70.89%, with actual production of 134,200 tons against a designed capacity of 220,000 tons[38]. - Ethylene glycol production increased by 6.77% to 134,200.12 tons, while sales rose by 8.93% to 137,229.60 tons[2]. Research and Development - Research and development expenses totaled 32,474,347.79 yuan, accounting for 3.77% of total revenue[51]. - The company plans to increase R&D and market development efforts to address market challenges, particularly in high-value-added product development[35]. - The company has invested in R&D focusing on coal-based ethylene glycol derivatives and biodegradable materials, although funding has been insufficient due to poor operating conditions[65]. Governance and Management - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[5]. - The company is focused on enhancing its research and development capabilities to diversify its product offerings and improve its resilience against market fluctuations[82]. - The company has established specialized committees, including an audit committee and a nomination committee, to enhance governance[102]. - The company is committed to improving its corporate governance structure in compliance with relevant laws and regulations, ensuring smooth operations and enhancing competitiveness[84]. Environmental Responsibility - The company invested 27.08 million yuan in environmental protection during the reporting period[119]. - The total emissions of sulfur dioxide in 2022 were 169.23 tons, nitrogen oxides were 282.87 tons, and smoke dust was 82.23 tons, all meeting the relevant emission standards[120]. - The company has implemented a training plan focusing on practical skills and theoretical knowledge to meet employee and organizational needs[110]. Legal and Compliance Issues - The company is involved in significant litigation, including a case seeking the return of a deposit amounting to 22 million RMB[132]. - The company has faced no administrative penalties related to environmental issues during the reporting period[123]. - The company has not reported any significant violations or penalties during the reporting period[138].

Financial Performance - The company's operating revenue for Q3 2023 was ¥150,730,013.86, a decrease of 34.67% compared to the same period last year[2] - The net profit attributable to shareholders for Q3 2023 was -¥88,758,780.30, with a year-to-date net profit of -¥175,903,914.13, indicating significant losses[2] - The basic earnings per share for Q3 2023 was -¥0.0873, and the diluted earnings per share was also -¥0.0873[3] - Total operating revenue for the first three quarters of 2023 was ¥649,641,860.35, a decrease of 14.4% compared to ¥759,499,133.62 in the same period of 2022[17] - Net profit for the first three quarters of 2023 was -¥227,215,054.31, compared to -¥56,657,534.49 in the same period of 2022, indicating a significant increase in losses[18] - Basic earnings per share for the first three quarters was -¥0.1730, compared to -¥0.0434 in the same period of 2022[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,707,273,360.34, down 8.32% from the previous year[3] - The equity attributable to shareholders decreased by 18.90% to ¥757,287,767.57 compared to the end of the previous year[3] - The company's total liabilities rose to ¥651,678,264.98, an increase of 12.6% from ¥578,748,695.53 year-over-year[18] - The company's total liabilities increased to CNY 1,074,230,687.10 from CNY 1,036,000,000.00, reflecting an increase of approximately 3.7%[14] - The company's total non-current assets decreased to CNY 1,460,932,242.46 from CNY 1,607,501,488.54, a decrease of about 9.1%[14] Cash Flow - The net cash flow from operating activities for the year-to-date period was -¥90,701,059.09, reflecting a decline of 201.17%[2] - Cash received from sales of goods and services was ¥783,684,434.40, a decrease of 9.8% from ¥868,230,635.80 in the previous year[22] - Net cash flow from operating activities was -90,701,059.09, a decrease from -30,116,471.98 in the previous quarter[23] - Cash outflow from operating activities totaled 883,069,345.25, down from 908,188,888.84 in the previous quarter[23] - Cash inflow from investment activities was 2,802,379.74, significantly lower than 4,988,860.47 in the previous quarter[23] Operational Challenges - The decline in operating revenue was primarily due to a decrease in product sales and prices[7] - The company's operating performance was impacted by routine maintenance at its subsidiary, resulting in a decline in product output and sales[11] - The company reported a decrease in cash flow from operating activities, indicating potential challenges in operational efficiency[23] Other Financial Metrics - The company's cash and cash equivalents decreased to CNY 21,073,290.07 from CNY 47,905,810.82, representing a decline of about 56.1%[13] - Accounts receivable increased significantly to CNY 31,308,005.02, up from CNY 16,842,172.46, indicating an increase of approximately 85.5%[13] - Total operating costs increased to ¥883,182,200.68, up 7.3% from ¥822,922,124.72 year-over-year[17] - Research and development expenses for the first three quarters were ¥25,322,704.06, down 28.8% from ¥35,537,543.85 in the same period of 2022[18] - Other comprehensive income attributable to shareholders was -¥593,643.96, compared to -¥3,650,410.85 in the same period of 2022[19] Accounting Changes - The company is adapting to new accounting standards starting in 2023, which may impact financial reporting[24]

Financial Performance - The company's operating revenue for the first half of 2023 was approximately ¥498.91 million, a decrease of 5.65% compared to ¥528.77 million in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2023 was a loss of approximately ¥87.15 million, compared to a loss of ¥5.91 million in the same period last year[21]. - The basic earnings per share for the first half of 2023 was -¥0.0857, compared to -¥0.0058 in the same period last year[21]. - The weighted average return on net assets decreased to -2.45% from -0.48% in the previous year, a reduction of 1.97 percentage points[21]. - The net cash flow from operating activities for the first half of 2023 was approximately -¥3.78 million, compared to -¥35.43 million in the same period last year[21]. - Revenue decreased by 5.65% to approximately CNY 498.91 million compared to CNY 528.77 million in the same period last year[30]. - Operating costs increased by 16.65% to approximately CNY 518.24 million, primarily due to higher unit costs of main products[30]. - The company reported a net loss of RMB 1,991,105,358.30 in retained earnings, compared to a loss of RMB 1,905,313,816.09 at the end of 2022, indicating a worsening of approximately 4.51%[89]. - The company reported an investment loss of CNY 2,201,982.19 for the first half of 2023, compared to a gain of CNY 1,403,524.95 in the same period of 2022[96]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.80 billion, a decrease of 3.44% from ¥1.86 billion at the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥845.79 million, a decrease of 9.42% from ¥933.79 million at the end of the previous year[21]. - Cash and cash equivalents decreased by 23.49% to ¥36,653,892.28 compared to the previous year[33]. - Accounts receivable increased by 130.00% to ¥38,736,248.77 due to increased goods dispatched and reduced cash collections[34]. - Inventory increased by 8.03% to ¥134,047,792.05, mainly due to a decrease in inventory impairment provisions[34]. - Short-term borrowings increased by 12.72% to ¥155,458,154.53, primarily due to increased borrowings and interest payable[35]. - Total liabilities increased to CNY 254,689,263.64 from CNY 252,489,963.43 year-on-year[93]. - The company's total liabilities increased, impacting the overall financial leverage, although specific figures were not disclosed in the summary[107]. Operational Challenges - The company continues to face significant operational challenges due to low prices for ethylene glycol and oxalic acid, leading to substantial operating losses[29]. - The market for oxalic acid is facing challenges with oversupply risks and weak demand, making stability difficult in the second half of 2023[27]. - The company faces significant risks including policy, market, and operational risks, which are detailed in the report[8]. Research and Development - Research and development expenses decreased by 23.62% to approximately CNY 17.96 million[30]. - Research and development expenses were CNY 17,961,345.31, down from CNY 23,514,890.98 in the first half of 2022, indicating a reduction in R&D investment[95]. Shareholder Information - The company does not plan to distribute profits or increase capital reserves through stock issuance for the 2023 interim period[6]. - The controlling shareholder, Danhua Group, plans to transfer 152.5 million shares, representing 15.0021% of the total share capital, which may lead to a change in control of the company[75]. - As of the end of the reporting period, the total number of ordinary shareholders was 55,525[76]. - The top ten shareholders hold a total of 220,050,050 shares, accounting for 21.65% of the total shares[79]. Environmental Compliance - The company reported a total sulfur emissions of 133.55 tons, nitrogen oxides emissions of 153.72 tons, and particulate matter emissions of 31.02 tons in the first half of 2023, all meeting the national pollution discharge standards[51]. - The actual discharge of chemical oxygen demand from wastewater was 58.94 tons, and ammonia nitrogen was 1.76 tons, complying with the local wastewater treatment standards[51]. - The company has not implemented any new pollution prevention facilities during the reporting period, and existing facilities are operating smoothly[52]. Legal Matters - There are ongoing lawsuits related to the misuse of project funds by other shareholders of joint ventures, with court decisions pending[57]. - The company received an execution payment of 2.51 million RMB related to a lawsuit concerning the return of a 22 million RMB restructuring deposit, with the remaining amount still in execution[62]. Financial Management - The company has fully provided for bad debt reserves for the 22 million RMB receivable in the 2019 fiscal year[62]. - The total amount of related party transactions during the reporting period was 3.78 million RMB, including 0.51 million RMB for labor services and 3.27 million RMB for chemical agent supply[63]. - The company provided a short-term funding support of 35 million RMB from its controlling shareholder due to bank loan repayment difficulties, with a usage period of 24 days[66]. - The company has not incurred any guarantees during the reporting period, and the total guarantee amount remains at 0[70]. Accounting Policies - The financial statements are prepared based on the going concern assumption, indicating the company has the ability to continue operations for at least 12 months from the reporting date[121]. - The company adheres to the accounting policies and estimates as per the relevant accounting standards, particularly in revenue recognition[122]. - The company recognizes investment income from the difference in net assets upon loss of control over a subsidiary[134]. - The company assesses expected credit losses based on the significant increase in credit risk since initial recognition, measuring loss provisions accordingly[151].

Financial Performance - The company's operating revenue for 2022 was approximately ¥933.82 million, a decrease of 14.13% compared to ¥1,087.48 million in 2021[21]. - The net profit attributable to shareholders was approximately -¥292.98 million, representing a significant decline of 181.52% from -¥104.07 million in the previous year[21]. - Basic earnings per share for 2022 was -0.2882 yuan, a decrease of 181.47% compared to -0.1024 yuan in 2021[23]. - The weighted average return on equity decreased to -27.04% in 2022, down 18.91 percentage points from -8.13% in 2021[23]. - Total operating revenue for the fourth quarter of 2022 was 174,320,212.16 yuan, with a net profit attributable to shareholders of -248,842,213.55 yuan[25]. - The company reported a net cash flow from operating activities of 17,021,090.88 yuan in 2022[26]. - The company achieved a main business revenue of RMB 926.52 million in 2022, which is a significant performance indicator[167]. - The net loss for 2022 was ¥377,970,058.69, compared to a net loss of ¥126,261,836.05 in 2021, representing a significant increase in losses[184]. - The total comprehensive loss for 2022 was 8,136,299.29 RMB, compared to a loss of 22,771,540.05 RMB in 2021, reflecting a decrease in comprehensive losses by about 64%[187]. Assets and Liabilities - The company's total assets decreased by 17.39% to approximately ¥1.86 billion from ¥2.25 billion in 2021[22]. - The company's total equity decreased from RMB 1,669,532,397.81 in 2021 to RMB 1,283,403,793.63 in 2022, a decline of about 23.1%[178]. - Total liabilities increased to ¥252,489,963.43 in 2022 from ¥247,603,595.37 in 2021, indicating a rise in financial obligations[182]. - The company's cash and cash equivalents decreased from RMB 79,597,294.83 in 2021 to RMB 47,905,810.82 in 2022, a decline of approximately 40%[176]. - Long-term investments decreased from RMB 48,551,224.74 in 2021 to RMB 24,484,060.54 in 2022, a decline of approximately 49.6%[176]. Cash Flow - The net cash flow from operating activities was -¥45,594,169.39, a significant decline of 125.23% compared to the previous year[38]. - The company paid 196,800,000.00 RMB in debt repayment during 2022, down from 290,000,000.00 RMB in 2021, indicating a reduction of approximately 32%[190]. - The net cash flow from financing activities was -3,814,500.00 RMB, down from 9,871,226.34 RMB, showing a reduction in financing inflows[193]. - The total cash and cash equivalents at the end of the period decreased to 414,836.63 RMB from 5,110,414.17 RMB, indicating a liquidity contraction[193]. Operational Performance - The company operated its production facilities for 325 days in 2022, achieving completion rates of 83.79% for ethylene glycol and 107.83% for oxalic acid[31]. - The actual production of ethylene glycol was 125,685.82 tons, with a sales volume of 125,984.38 tons, reflecting a year-on-year decline of 10.72% in sales volume[43]. - The sales volume of oxalic acid was 90,851.09 tons, with a slight year-on-year decrease of 2.21%[36]. - The average price of ethylene glycol in the East China market for 2022 was 4,559 yuan/ton, which was below the company's cost price[32]. Research and Development - The company’s R&D expenses were ¥47,316,191.43, showing a slight increase of 0.11% year-on-year[38]. - The number of R&D personnel was 54, making up 4.32% of the total workforce[49]. - The company plans to focus on R&D in coal-based ethylene glycol derivatives and biodegradable materials to enhance its sustainable operational capabilities[63]. Environmental and Safety Compliance - The company invested 24.41 million yuan in environmental protection during the reporting period[119]. - The total emissions of sulfur dioxide were 169.23 tons, nitrogen oxides were 282.87 tons, and smoke dust was 82.23 tons, all meeting the relevant environmental standards[121]. - The company faced an administrative penalty of 1 million RMB due to the illegal storage of approximately 40,000 tons of industrial solid waste, which occupied an area of about 79,000 square meters[125]. Governance and Management - The company underwent a board and supervisory committee reshuffle in May 2022, with several key personnel changes including the resignation of the chairman and a director[97]. - The total remuneration for all directors, supervisors, and senior management was 2.9741 million yuan[96]. - The company has established a performance evaluation system for middle and senior management to enhance work efficiency and motivation[108]. Legal Matters - The company is involved in ongoing litigation related to terminated projects, which may impact future financial performance[4]. - The company is involved in three lawsuits, which have been transferred to the Ordos Intermediate People's Court in Inner Mongolia, and are still under trial as of the report date[136]. - The company won a court ruling on June 27, 2022, to recover a restructuring deposit of RMB 22 million, with the final judgment upheld on March 20, 2023[136].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 528.77 million, a decrease of 0.32% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of approximately RMB 5.91 million, improving from a loss of RMB 23.96 million in the same period last year[18]. - The net cash flow from operating activities was negative RMB 35.43 million, a significant decline of 140.20% compared to a positive cash flow of RMB 88.14 million in the previous year[18]. - The total assets at the end of the reporting period were approximately RMB 2.25 billion, a decrease of 0.24% from the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were approximately RMB 1.23 billion, down 0.52% from the previous year-end[18]. - The basic earnings per share for the first half of 2022 was -0.0058 yuan, compared to -0.0236 yuan in the same period last year[20]. - The weighted average return on net assets was -0.4806%, an increase of 1.34 percentage points from -1.8228% in the previous year[20]. - The company reported a revenue of ¥528,773,448.84 for the first half of 2022, a decrease of 0.32% compared to ¥530,459,516.93 in the same period last year[29]. - The company's operating costs decreased by 1.55% to ¥444,248,421.65 from ¥451,237,000.34 year-on-year[29]. - The company experienced a net cash outflow from operating activities of ¥-35,434,456.64, a significant decrease compared to a net inflow of ¥88,140,587.88 in the previous year[29]. - The company reported a significant increase in prepayments to ¥53,060,979.53 from ¥2,806,698.23, a rise of approximately 1,788.5%[84]. - The total net profit for the first half of 2022 was -1,719,397.05 RMB, an improvement from a net loss of -5,804,047.72 RMB in the first half of 2021[93]. - The company reported a significant reduction in management expenses to CNY 51,116,520.13 from CNY 66,267,552.06 year-on-year[93]. - The company incurred financial expenses of 2,260,302.87 RMB in the first half of 2022, down from 4,005,649.04 RMB in the same period of 2021, indicating a decrease of approximately 43.4%[99]. Cash Flow and Liquidity - Cash and cash equivalents increased to ¥80,952,166.76, representing 3.60% of total assets, a 1.70% increase from the previous year[31]. - The company reported a decrease in cash and cash equivalents due to higher financing outflows compared to inflows, indicating potential liquidity challenges[103]. - The company's total cash inflow from financing activities in the first half of 2022 was 89,000,000.00 RMB, compared to 130,000,000.00 RMB in the same period of 2021, representing a decrease of approximately 31.6%[100]. - The company's total cash outflow from operating activities was 681,078,354.99 RMB in the first half of 2022, compared to 484,364,592.15 RMB in the same period of 2021, indicating an increase of approximately 40.6%[99]. - The ending balance of cash and cash equivalents was CNY 465,245.96, down from CNY 5,110,414.17 at the beginning of the period, reflecting a decrease of CNY 4,645,168.21[103]. Assets and Liabilities - Total current assets increased to ¥363,511,166.00 from ¥264,280,782.28, representing a growth of approximately 37.5%[84]. - Total non-current assets decreased to ¥1,885,366,018.04 from ¥1,989,960,534.15, a decline of about 5.2%[85]. - Total liabilities slightly increased to ¥586,891,475.83 from ¥584,708,918.62, showing a marginal rise of approximately 0.4%[86]. - Total equity decreased to ¥1,661,985,708.21 from ¥1,669,532,397.81, indicating a decline of about 0.5%[86]. - The company's total liabilities at the end of the reporting period were 1,761,908,260 RMB[120]. Environmental and Regulatory Compliance - The company faced an administrative penalty of 1 million yuan due to improper storage of approximately 40,000 tons of industrial solid waste, which did not meet environmental protection standards[53]. - The company has implemented pollution control measures, including the installation of online monitoring systems for emissions, which are functioning normally and have passed inspections[51]. - In the first half of 2022, the actual emissions of sulfur dioxide totaled 92.2 tons, nitrogen oxides totaled 166.4 tons, and particulate matter totaled 25.59 tons, all meeting the relevant environmental standards[48]. - The company has developed a rectification plan to address environmental issues identified by the local ecological bureau, aiming to clear the waste by November 2022[53]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local ecological bureau[50]. - The company has not reported any significant changes in its environmental impact assessment or other environmental protection licenses during the reporting period[50]. Research and Development - The company’s research and development expenses increased by 5.21% to ¥23,514,890.98, reflecting increased investment in R&D activities[29]. - The company plans to continue developing biodegradable materials and derivatives of ethylene glycol as future growth points[27]. - Internal research and development expenditures during the research phase are recognized as expenses when incurred, while development phase expenditures are recognized as intangible assets if specific conditions are met[200]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 62,163[72]. - The largest shareholder, Jiangsu Danhua Group Co., Ltd., holds 220,050,050 shares, accounting for 21.65% of the total shares[75]. - The second-largest shareholder, Caitong Fund, holds 36,880,000 shares, representing 3.63% of the total shares[75]. - The company has not experienced any changes in its share capital structure during the reporting period[71]. - The company will not distribute profits or increase capital reserves in the current reporting period, with no dividends or stock bonuses planned[45]. Legal Matters - The company is involved in ongoing litigation related to the misappropriation of project funds by other shareholders in its investee companies, with court proceedings expected to commence in September 2022[56]. - The company is involved in a lawsuit regarding the return of a restructuring deposit of 22 million yuan, with the first-instance judgment requiring the defendants to repay this amount[62]. - The court has accepted jurisdiction objections raised by the defendants in three lawsuits, which have been transferred to the Ordos Intermediate People's Court for trial, expected to commence in September 2022[62]. - The company has incurred legal costs related to the ongoing litigation, which may impact future financial performance[62]. Risk Factors - The company faces significant risks including policy, market, and operational risks[6]. - The company faces risks including production instability, market oversupply, raw material cost pressures, and stringent environmental regulations[39].