Financial Performance - The company's operating revenue for 2021 was approximately ¥1.09 billion, representing a 1.12% increase compared to ¥1.08 billion in 2020[24]. - The net profit attributable to shareholders of the listed company was approximately -¥104.07 million, an improvement from -¥367.17 million in 2020[24]. - The cash flow from operating activities for 2021 was approximately ¥180.71 million, a significant increase of 572.14% compared to -¥38.28 million in 2020[24]. - Total revenue for Q4 2021 was 331,082,973.92 CNY, with a total annual revenue of 1,087,484,456.44 CNY[28]. - The net profit attributable to shareholders for Q4 2021 was -53,059,881.04 CNY, showing a significant loss compared to previous quarters[28]. - Basic earnings per share for 2021 was -0.1024 CNY, an improvement from -0.3612 CNY in 2020[26]. - The weighted average return on equity increased by 16.20 percentage points to -8.13% in 2021 from -24.33% in 2020[26]. - The company reported a net loss of ¥1,612,330,035.88 in 2021 compared to a loss of ¥1,508,257,230.50 in 2020, indicating a worsening of approximately 6.9%[183]. - The net profit for 2021 was a loss of CNY 126,261,836.05, improving from a loss of CNY 472,909,492.75 in 2020[190]. - The total comprehensive income for 2021 was -115,586,432.56 RMB, compared to -472,909,492.75 RMB in 2020, indicating an improvement[191]. Assets and Liabilities - Total assets at the end of 2021 were approximately ¥2.25 billion, a decrease of 13.12% from ¥2.59 billion at the end of 2020[25]. - The net assets attributable to shareholders of the listed company decreased by 7.04% to approximately ¥1.23 billion from ¥1.33 billion at the end of 2020[25]. - Total current assets decreased to ¥264,280,782.28 in 2021 from ¥393,940,229.92 in 2020, a decline of approximately 32.8%[181]. - Total non-current assets decreased to ¥1,989,960,534.15 in 2021 from ¥2,200,607,089.08 in 2020, a decline of about 9.6%[182]. - Total liabilities decreased to ¥584,708,918.62 in 2021 from ¥809,428,488.63 in 2020, a reduction of approximately 27.8%[183]. - Total equity decreased to ¥1,669,532,397.81 in 2021 from ¥1,785,118,830.37 in 2020, a decline of about 6.5%[183]. Production and Sales - The company produced 138,100 tons of ethylene glycol and 99,700 tons of oxalic acid in 2021, maintaining production levels from the previous year[33]. - The average sales price of ethylene glycol increased by 36.40% and oxalic acid by 28.11% compared to the previous year[33]. - The company's main products, ethylene glycol and oxalic acid, sold 141,100 tons and 99,300 tons respectively, with year-on-year changes of -4.39% and +14.69%[40]. - The total ethylene glycol imports in 2021 were 8.43 million tons, a decrease of 20% compared to the same period last year[37]. - The domestic ethylene glycol production reached approximately 12.37 million tons, an increase of about 3.32 million tons year-on-year, representing a growth rate of 36.6%[37]. Research and Development - The company’s research and development expenses increased by 13.97% to approximately CNY 47.27 million, reflecting ongoing investment in technology[41]. - The company is focusing on R&D in coal-based ethylene glycol derivatives, specialized catalysts, and biodegradable materials, with a significant project on dimethyl carbonate progressing towards a 100,000 tons per year industrialization[69]. - The company reported a significant increase in tax expenses, totaling CNY 24,655,779.15 in 2021 compared to CNY 19,393,565.27 in 2020, an increase of approximately 27.5%[190]. Risks and Challenges - The company faced significant risks including policy, market, and operational risks[10]. - The company has ongoing litigation related to terminated projects, which may impact future financial performance[4]. - The company is facing risks from aging production equipment and potential non-scheduled shutdowns, which could impact normal operations and profitability[88]. - The domestic market is experiencing overcapacity and intensified competition, which may lead to price declines for ethylene glycol and oxalic acid[88]. - Rising raw material costs due to fluctuations in international oil prices and macroeconomic conditions are putting pressure on the company's profitability[88]. Corporate Governance and Management - The company experienced a change in leadership with Wang Bin resigning on January 7, 2022, and Li Guofang taking over as acting chairman[98]. - The company is undergoing a transition in management with several key personnel changes, including the resignation of Huajun on January 30, 2022[98]. - The total number of shares held by directors and senior management decreased from 2,017,480 at the beginning of the year to 1,941,880 at the end of the year, a reduction of 75,600 shares[95]. - The company held 8 board meetings in 2021, with all directors participating in the meetings[104]. - The company has established a cash dividend policy, aiming for cash distributions to be at least 30% of the average distributable profit over the last three years[117]. Environmental Compliance - The company met environmental standards for pollutant emissions, with total sulfur dioxide emissions at 104.95 tons and nitrogen oxides at 331.37 tons in 2021[125]. - The company has installed online monitoring systems for emissions and wastewater treatment, with normal operational status and connectivity to local environmental authorities[129]. - Measures to reduce carbon emissions include optimizing coal usage and improving energy efficiency through the elimination of outdated equipment[130]. - The company has committed to quarterly reporting of production information and pollutant emissions to the national environmental statistics system[129]. Related Party Transactions - The company reported a total of 1,381.90 million RMB in related party transactions during the reporting period[144]. - The company sold products to Danyang Huifeng Import and Export Trading Co., Ltd. for 417.14 million RMB, which is a subsidiary of a shareholder[143]. - The company provided labor services to Danyang Jindan Electric Installation Co., Ltd. for 318.31 million RMB, also a subsidiary of a shareholder[143].

Financial Performance - The company's operating revenue for Q3 2021 was ¥225,941,965.59, representing an increase of 86.26% compared to the same period last year[4] - The net profit attributable to shareholders was -¥27,055,302.08, with a year-to-date net profit of -¥51,012,924.34, indicating a significant loss[4] - Basic earnings per share for Q3 2021 was -¥0.0266, while diluted earnings per share was also -¥0.0266[5] - The weighted average return on equity improved to -2.0992%, an increase of 10.4315 percentage points compared to the previous year[5] - The company reported a significant increase in operating revenue due to higher product sales and price increases[8] - The company experienced a decrease in net profit attributable to shareholders due to increased revenue and reduced expenses[8] - Total operating revenue for Q3 2021 was RMB 756.40 million, an increase from RMB 606.15 million in Q3 2020, representing a growth of approximately 24.7%[22] - Net profit for Q3 2021 was a loss of RMB 63.40 million, improving from a loss of RMB 291.57 million in Q3 2020, indicating a significant reduction in losses[23] - The company reported a total comprehensive loss of RMB 63.40 million for Q3 2021, compared to a loss of RMB 291.57 million in Q3 2020, showing a significant improvement in overall financial performance[24] Cash Flow and Assets - The cash flow from operating activities for the year-to-date period was ¥157,004,081.52, showing an increase of 82.42% year-on-year[4] - The company's cash and cash equivalents as of September 30, 2021, were CNY 105,287,158.21, down from CNY 147,474,592.27 at the end of 2020[16] - Total current assets decreased to CNY 296,223,985.02 from CNY 393,940,229.92 year-over-year[16] - Total liabilities decreased to CNY 628,717,946.64 from CNY 809,428,488.63 year-over-year[18] - The company's total assets as of September 30, 2021, were CNY 2,350,439,784.95, down from CNY 2,594,547,319.00 at the end of 2020[18] - The company’s inventory as of September 30, 2021, was CNY 112,025,699.69, down from CNY 128,349,788.09 at the end of 2020[16] - The company’s total equity attributable to shareholders was CNY 1,275,306,837.33, down from CNY 1,326,319,761.67 year-over-year[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 70,677[11] - The largest shareholder, Jiangsu Danhua Group Co., Ltd., held 180,050,050 shares, accounting for 17.71% of the total shares[11] Production and Operations - In the first three quarters, the subsidiary Tongliao Jinmei Chemical Co., Ltd. sold 112,000 tons of ethylene glycol and 71,700 tons of oxalic acid, with September's maintenance affecting quarterly production and sales[13] - The production load of ethylene glycol was reduced to approximately 45% of normal due to tight coal supply, while oxalic acid production remained normal[14] Research and Development - Research and development expenses for Q3 2021 were RMB 33.02 million, up from RMB 28.14 million in Q3 2020, reflecting a year-over-year increase of about 17.0%[22] Debt and Financing - The company incurred a total of RMB 350.00 million in debt repayment during Q3 2021, compared to RMB 160.00 million in Q3 2020, indicating an increase in debt servicing[26] Accounting Changes - The company implemented new lease accounting standards starting in 2021, affecting the financial statements from the beginning of the year[27] Board Meetings - The board of directors of Danhua Chemical Technology Co., Ltd. held a meeting on October 29, 2021[28]

Financial Performance - Operating revenue for the first nine months was CNY 606,153,031.10, down 9.65% year-on-year[6] - Net profit attributable to shareholders of the listed company was a loss of CNY 226,530,568.49, compared to a loss of CNY 224,715,770.55 in the same period last year[6] - Total operating revenue for Q3 2020 was CNY 121,303,483.36, a decrease of 21% compared to CNY 153,603,689.71 in Q3 2019[27] - Net loss for Q3 2020 was CNY 113,042.67, compared to a profit of CNY 684,174.23 in Q3 2019[27] - The net profit for Q3 2020 was -115,293,617.94 RMB, a decrease from -145,888,194.37 RMB in Q3 2019, indicating an improvement of approximately 20.5% year-over-year[30] - The total profit for Q3 2020 was -116,081,573.74 RMB, compared to -145,295,714.05 RMB in the same quarter of the previous year, reflecting a reduction of about 20.0%[30] - The operating profit for Q3 2020 was -112,530,724.75 RMB, showing a slight improvement from -140,050,639.79 RMB in Q3 2019, which is a 19.6% year-over-year increase[30] - The total comprehensive income for Q3 2020 was -115,293,617.94 RMB, compared to -145,888,194.37 RMB in Q3 2019, indicating a year-over-year improvement of about 20.5%[31] - The total comprehensive income for the first three quarters was -¥9,836,445.66, compared to -¥4,608,371.91 in the same period last year[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,981,693,441.15, a decrease of 0.21% compared to the end of the previous year[6] - Total assets as of September 30, 2020, amounted to CNY 2,814,320,711.97, a slight decrease from CNY 2,839,195,690.65 at the end of 2019[26] - Total liabilities as of September 30, 2020, were CNY 250,321,456.79, compared to CNY 270,588,063.56 at the end of 2019[26] - Shareholders' equity totaled CNY 2,563,999,255.18 as of September 30, 2020, a minor decrease from CNY 2,568,607,627.09 at the end of 2019[26] - The company’s long-term investments were CNY 2,736,636,133.44 as of September 30, 2020, slightly down from CNY 2,758,358,507.19 at the end of 2019[25] - The company’s total liabilities and shareholders' equity combined were CNY 2,814,320,711.97 as of September 30, 2020[26] Cash Flow - The net cash flow from operating activities increased to CNY 86,068,603.98, compared to a negative cash flow of CNY 65,431,923.79 in the previous year[6] - Net cash flow from operating activities improved by 231.54%, reaching 86,068,603.98 RMB compared to -65,431,923.79 RMB in the previous year[13] - Total cash inflow from operating activities was ¥741,372,295.57, down 40.3% from ¥1,239,911,269.27 in the previous year[37] - The company reported a net cash outflow from investing activities of -¥34,439,096.81, an improvement from -¥50,298,472.13 in the previous year[38] - Cash inflow from financing activities was ¥230,000,000.00, down from ¥261,200,000.00 in the same period last year[39] - The company paid ¥175,347,990.25 in financing activities, slightly down from ¥183,579,572.03 in the previous year[39] Inventory and Receivables - Inventory increased by 36.21%, from 289,043,126.69 RMB to 393,703,034.36 RMB, primarily due to an increase in catalysts[13] - Accounts receivable increased by 294.22%, from 1,596,147.05 RMB to 6,292,255.00 RMB, due to an increase in bank acceptance bills held by a subsidiary[15] - Prepayments increased by 69.28%, from 8,371,983.69 RMB to 14,171,923.71 RMB, mainly due to a subsidiary's increased prepayments[15] Expenses - The company experienced a reduction in operating expenses, mainly due to decreased fixed asset write-offs[12] - Research and development expenses for Q3 2020 were CNY 6,005,211.04, down from CNY 8,334,410.78 in Q3 2019[27] - Management expenses for Q3 2020 were 1,492,629.85 RMB, down from 3,124,995.04 RMB in Q3 2019, indicating a reduction of approximately 52.3%[33] - Financial expenses for Q3 2020 were 566,337.31 RMB, a decrease from 1,603,332.66 RMB in Q3 2019, reflecting a reduction of about 64.7%[33] - Interest expenses for Q3 2020 were 2,698,819.72 RMB, compared to 1,597,525.88 RMB in Q3 2019, showing an increase of approximately 68.9%[33] Investment and Losses - The company reported a decrease in investment losses, primarily due to adjustments in external investment losses during the reporting period[12] - Investment income decreased significantly by 94.57%, from -27,313,223.40 RMB to -1,482,272.80 RMB[13] - Credit impairment losses increased due to the recovery of receivables from subsidiaries, leading to a reversal of bad debt provisions[12] - The company reported a credit impairment loss of 193,600.00 RMB in Q3 2020[30] - The company received ¥16,982,200.00 from the recovery of investments, an increase from ¥10,000,000.00 in the previous year[38] Operational Challenges - The company terminated a major asset restructuring project due to unfavorable external conditions and uncertainties caused by the COVID-19 pandemic[16] - The company’s subsidiary experienced a production halt for nearly a month, impacting production and sales volumes in Q3[16] - The company reported a decrease in inventory from CNY 72,752,060.39 at the end of 2019 to CNY 63,496,500.17 as of September 30, 2020[25]