Financial Performance - The company's operating revenue for the reporting period reached ¥18,637,205,130.76, representing a 40.52% increase compared to ¥13,263,082,440.38 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥699,132,569.72, a significant turnaround from a loss of ¥669,092,128.99 in the previous year, marking a 204.49% increase[23]. - The net cash flow from operating activities was ¥1,023,957,597.40, compared to a negative cash flow of ¥1,009,813,735.63 in the same period last year, reflecting a 201.40% improvement[23]. - Basic earnings per share for the reporting period were ¥0.4371, a recovery from a loss of ¥0.4183 per share in the same period last year, representing a 204.49% increase[23]. - The weighted average return on net assets was 5.04%, a significant recovery from -5.04% in the previous year, indicating improved profitability[23]. - The net profit after deducting non-recurring gains and losses reached approximately ¥689.33 million, a significant increase of 201.48% year-over-year[97]. - The company reported a total profit for the first half of 2021 of ¥994.21 million, compared to a loss of ¥641.68 million in the same period of 2020[115]. Revenue Segmentation - The petrochemical segment accounted for 85.40% of total revenue, generating ¥15,916,137,118.04, up 40.13% from the previous year[38]. - The urea product segment generated revenue of ¥1,177,063,435.02, representing a year-on-year increase of 33.27%[38]. - The company's total revenue for the petrochemical segment reached ¥15,916,137,118.04, representing a year-on-year increase of 40.13%[41]. - The revenue from ABS products and by-products was ¥915,111,623.05, with a year-on-year growth of 4.91%[41]. - The Northeast region accounted for 50.81% of total revenue, with a year-on-year increase of 15.21%[41]. Asset and Liability Management - Total assets at the end of the reporting period amounted to ¥31,197,066,498.25, an increase of 11.82% from ¥27,899,652,411.93 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥14,113,179,775.13, up 4.27% from ¥13,535,819,313.84 at the end of the previous year[26]. - Total liabilities increased to ¥16,493,803,771.29, up from ¥13,787,713,303.31, representing a growth of approximately 19.6%[107]. - The debt-to-asset ratio rose to 52.87% from 49.42%, indicating a 3.45% increase compared to the previous year[97]. - Non-current liabilities totaled ¥7,555,402,671.00, compared to ¥6,306,610,511.71, marking an increase of around 19.7%[107]. Cash Flow and Investment - The company reported a net increase in cash and cash equivalents of ¥1,185,290,692.38, a 196.02% increase from ¥400,406,052.68 in the previous year[38]. - Cash flow from operating activities was ¥22.27 billion, an increase from ¥15.64 billion in the previous year, showing strong cash generation[124]. - Cash inflow from investment activities was CNY 1,270,000,000.00, significantly higher than CNY 150,000,000.00 in the prior year[130]. - Cash outflow for investment activities totaled CNY 1,288,841,038.47, compared to CNY 513,997,541.94 in the previous year, reflecting a rise of approximately 150.5%[130]. - The ending cash and cash equivalents balance was CNY 7,342,464,993.84, up from CNY 6,660,948,376.45 in the previous year[130]. Research and Development - Research and development investment rose by 35.38% to ¥51,585,792.03 from ¥38,105,029.66 in the previous year[38]. - The company plans to focus on expanding its petrochemical segment, which includes products such as diesel, polypropylene, polyethylene, and various chemical derivatives[30]. - The company is strategically optimizing its product structure and enhancing production technology to improve resource utilization efficiency[35]. Environmental and Social Responsibility - The company reported a total sulfur dioxide emission of 22.465 tons per year from its subsidiary Panjin Liaohe Futeng Thermal Power Co., Ltd.[59]. - The company reported a total nitrogen oxide emission of 142.889 tons per year from Panjin Liaohe Futeng Thermal Power Co., Ltd.[59]. - The company plans to complete four external donation assistance projects in 2021, with a total value of 1.7394 million yuan[63]. - The company donated 800,000 yuan to the designated poverty alleviation target in Heilongjiang Province[63]. - The company donated 250,000 yuan to six impoverished villages in Xinjiang[63]. Shareholder Information - The largest shareholder, Northern Huajin Chemical Group Co., Ltd., holds 434,445,409 shares, representing 27.16% of the total shares[84]. - The second-largest shareholder, China Weapon Investment Management Co., Ltd., holds 159,272,666 shares, representing 9.96% of the total shares[84]. - The total number of shareholders holding more than 5% of shares is 10, with no changes reported during the reporting period[84]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[86]. Compliance and Governance - The company had no significant litigation or arbitration matters during the reporting period[67]. - The company has no non-standard audit reports for the current or previous year[67]. - There were no significant penalties or rectification measures during the reporting period[68]. - The company did not engage in any significant asset or equity acquisitions or sales during the reporting period[72]. Accounting Policies - The financial statements are prepared based on the assumption of going concern and comply with the latest accounting standards issued by the Ministry of Finance[155]. - The company recognizes a financial asset or financial liability when it becomes a party to a financial instrument contract[169]. - Financial assets are classified at initial recognition based on the company's business model for managing financial assets and the contractual cash flow characteristics[169]. - The company recognizes expected credit losses for financial assets measured at amortized cost and debt instruments measured at fair value through other comprehensive income[172].

Financial Performance - The company's operating revenue for Q1 2021 was ¥7,745,509,915.18, representing a 32.14% increase compared to ¥5,861,722,442.51 in the same period last year[8]. - Net profit attributable to shareholders was ¥533,075,239.71, a significant turnaround from a loss of ¥887,566,678.31, marking a 160.06% increase[8]. - The net cash flow from operating activities improved to ¥1,066,463,731.03, a 68.24% increase from a negative cash flow of ¥3,357,669,079.86 in the previous year[8]. - Basic earnings per share rose to ¥0.3333, compared to a loss of ¥0.5549 in the same period last year, reflecting a 160.06% increase[8]. - The company reported a significant reduction in asset impairment losses, which decreased to ¥294,719,800.66 from a higher amount in the previous year[16]. - The company reported a profit before tax of ¥690,710,200.38, a turnaround from a loss of ¥960,500,520.09 in the previous period[60]. - The total comprehensive income for the current period was ¥552,410,821.44, compared to a comprehensive loss of ¥899,299,683.59 in the previous period[56]. Assets and Liabilities - Total assets at the end of the reporting period were ¥30,034,373,749.20, up 7.65% from ¥27,899,652,411.93 at the end of the previous year[8]. - Current liabilities totaled ¥7,059,702,530.79, up from ¥6,229,863,050.40, indicating a growth of approximately 13.3%[49]. - Non-current liabilities increased to ¥6,196,419,694.37 from ¥5,687,364,565.65, reflecting a rise of about 8.9%[49]. - The company's total liabilities reached ¥13,256,122,225.16, up from ¥11,917,227,616.05, representing an increase of around 11.3%[49]. - The total equity attributable to shareholders of the parent company rose to ¥12,532,018,437.06 from ¥12,082,122,487.64, showing an increase of about 3.7%[49]. - The total assets increased to CNY 30,034,373,749.20 from CNY 27,899,652,411.93, reflecting overall growth[36]. - The company's total liabilities decreased, reflecting improved financial health and management of debt obligations[75]. Cash Flow - Cash received from sales increased by 48.49% to CNY 9,576,276,999.94 from CNY 6,449,320,529.01, recovering from previous pandemic impacts[20]. - The cash inflow from operating activities was CNY 9,597,413,147.68, an increase of approximately 48.5% compared to CNY 6,459,892,338.62 in the previous period[64]. - The cash outflow from operating activities totaled CNY 10,663,876,878.71, up from CNY 9,817,561,418.48, resulting in a net cash flow from operating activities of CNY -1,066,463,731.03, an improvement from CNY -3,357,669,079.86[67]. - The ending balance of cash and cash equivalents was CNY 6,704,426,682.27, up from CNY 5,215,014,744.85 in the previous period[69]. - The net increase in cash and cash equivalents was CNY -1,062,509,296.09, compared to CNY -1,900,727,405.21 in the previous period, indicating a reduced cash outflow[69]. Research and Development - The company's R&D expenses increased by 113.15% to ¥25,849,768.85, compared to ¥12,127,389.63 in the previous year, indicating a focus on innovation[16]. - Research and development expenses increased to ¥25,849,768.85 from ¥12,127,389.63, indicating a rise of 113.5% year-over-year[60]. Shareholder Information - The top ten shareholders held a combined 62.16% of the company's shares, with the largest shareholder owning 27.16%[13]. - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[84].

Financial Performance - The company's operating revenue for 2020 was ¥30,437,437,454.92, a decrease of 23.15% compared to ¥39,608,340,979.04 in 2019[23] - The net profit attributable to shareholders for 2020 was ¥324,489,612.57, down 67.32% from ¥992,955,495.15 in 2019[23] - The net profit after deducting non-recurring gains and losses was ¥255,201,758.12, a decline of 71.20% compared to ¥886,263,191.84 in the previous year[23] - The basic earnings per share for 2020 was ¥0.20, a decrease of 67.74% from ¥0.62 in 2019[23] - The total assets at the end of 2020 were ¥27,899,652,411.93, down 4.97% from ¥29,359,202,252.30 at the end of 2019[23] - The net assets attributable to shareholders at the end of 2020 were ¥13,535,819,313.84, a slight decrease of 0.54% from ¥13,609,039,892.51 in 2019[23] - The weighted average return on net assets for 2020 was 2.40%, down from 7.22% in 2019, indicating a decline in profitability[23] - Total revenue for 2020 was approximately ¥30.44 billion, a decrease of 23.15% compared to ¥39.61 billion in 2019[56] Cash Flow and Investments - The net cash flow from operating activities for 2020 was ¥2,814,637,063.20, an increase of 3.35% compared to ¥2,723,475,056.01 in 2019[23] - Investment cash inflow surged by 1,696.71% to ¥124,329,995.66, primarily due to the recovery of financial investments[78] - Financing cash inflow increased by 54.18% to ¥10,042,734,200.00, attributed to a reduction in borrowing scale from the previous period[78] - The net increase in cash and cash equivalents was ¥651,193,828.30, a 140.36% increase compared to the previous year[78] Revenue Breakdown - The petrochemical industry accounted for 86.71% of total revenue in 2020, down from 88.49% in 2019, with revenue of ¥26.39 billion, a decline of 24.69% year-over-year[56] - Sales volume in the petrochemical sector reached 549.13 million tons in 2020, an increase of 3.39% from 531.1 million tons in 2019[61] - The Northeast region generated ¥20.57 billion in revenue, representing 67.57% of total revenue, but saw a decline of 19.09% from ¥25.42 billion in 2019[59] - The gross profit margin for the petrochemical industry was 11.50%, down from 13.90% in the previous year[60] Operational Efficiency - The company reduced raw material procurement costs by nearly 400 million yuan, with a significant drop in the average price of crude oil from 2,703.84 yuan to 2,174.44 yuan[50] - The refining and ethylene production load reached 95.86% and 105.06% respectively, with historical lows in energy consumption and record production rates for ABS and urea[44] - The company actively optimized its product structure and improved production technology, enhancing resource utilization efficiency[40] Research and Development - The company’s R&D focuses on enhancing production efficiency and developing new chemical products, including high-purity styrene[34] - Research and development expenses increased by 11.81% to ¥112,039,286.38, representing 0.37% of operating revenue[74] - The number of R&D personnel decreased by 36.02% to 151, while the proportion of R&D personnel to total employees fell to 1.95%[74] Environmental Responsibility - The company completed 25 environmental projects and maintained zero environmental pollution incidents, ensuring compliance with environmental regulations[49] - The company is classified as a key pollutant discharge unit, with total sulfur dioxide emissions of 1,841.477 tons/year and nitrogen oxides at 1,877.707 tons/year[122] - The company has established an environmental self-monitoring plan, which is publicly available[125] Corporate Governance - The company has established a sound corporate governance structure, ensuring clear responsibilities among shareholders, the board, and management[116] - The company maintains independence from its controlling shareholder in business, personnel, assets, organization, and finance, ensuring complete operational autonomy[184] - The company’s governance structure aligns with the regulatory requirements set by the China Securities Regulatory Commission, with no significant discrepancies noted[183] Shareholder Information - The company reported a total of 2,104,994.48 CNY in related party transactions, with 94.58% related to purchases from a subsidiary[107] - The total number of common shareholders at the end of the reporting period was 57,968, an increase from 52,032 at the end of the previous month[133] - The largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holds 27.16% of shares, totaling 434,445,409 shares[134] Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion[157] - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next three years[157] - A strategic acquisition of a local competitor was announced, expected to enhance production capacity by 40%[157]

Financial Performance - Operating revenue for the period was ¥7,149,302,193.49, representing a decline of 27.26% from ¥9,828,191,744.50 in the same period last year[8]. - Net profit attributable to shareholders was ¥502,150,497.72, an increase of 56.57% compared to ¥320,715,056.56 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥492,874,551.47, up 32.01% from ¥373,348,279.05 in the same period last year[8]. - Basic earnings per share were ¥0.3140, reflecting an increase of 48.25% from ¥0.2118 in the same period last year[8]. - Operating profit for the current period is ¥524,311,436.38, up 19.7% from ¥437,740,369.87 in the previous period[46]. - Net profit for the current period is ¥511,409,477.05, an increase of 50.9% from ¥338,829,139.25 in the previous period[46]. - The company reported a total comprehensive income of -¥177,647,268.14 for the current period, compared to ¥976,409,766.76 in the previous period[60]. - The total profit for the current period is -158,630,640.15, compared to a profit of 556,915,687.12 in the previous period, indicating a significant decline[65]. Cash Flow - The net cash flow from operating activities was ¥37,841,552.60, a significant decrease of 97.82% compared to ¥1,733,173,451.32 in the previous year[8]. - The net cash flow from operating activities is -971,972,183.03, down from 1,059,257,056.34 in the previous period, reflecting a negative trend in cash generation[70]. - The total cash inflow from operating activities is 23,687,751,777.25, down from 32,730,414,123.05 in the previous period, indicating a decline in operational performance[70]. - The total cash outflow from operating activities is 24,659,723,960.28, compared to 31,671,157,066.71 in the previous period, showing a reduction in cash expenditures[70]. - The total cash inflow from financing activities is 9,542,734,200.00, compared to 3,870,000,000.00 in the previous period, showing an increase in financing efforts[73]. - The net cash flow from financing activities is -503,557,794.08, an improvement from -3,952,442,504.96 in the previous period, indicating better management of financing costs[73]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥29,078,181,422.56, a decrease of 0.96% compared to the adjusted total assets of ¥29,359,202,252.30 at the end of the previous year[8]. - Total liabilities increased to CNY 15,439,605,579.77 from CNY 15,213,067,305.30, representing a growth of approximately 1.49% year-over-year[32]. - Current liabilities decreased to CNY 5,776,876,386.85 from CNY 9,045,730,710.94, a reduction of about 36.5%[32]. - Non-current liabilities rose significantly to CNY 9,662,729,192.92 from CNY 6,167,336,594.36, marking an increase of approximately 56.5%[32]. - The cash and cash equivalents decreased to ¥5,642,184,824.18 from ¥7,115,742,150.06, indicating a liquidity contraction[26]. - Accounts receivable increased by 63.40% to ¥218,331,639.90, driven by normal business operations[17]. - Prepayments surged by 115.46% to ¥3,771,553,837.23, reflecting increased normal business activities[17]. - Short-term borrowings decreased by 64.98% to ¥2,350,000,000.00 as a result of optimizing the borrowing structure[17]. - Long-term borrowings increased to ¥6,783,049,773.25 from ¥3,257,527,188.78, an increase of approximately 108%[32]. Expenses - Total operating costs for the current period are ¥6,619,217,424.59, down 29.5% from ¥9,367,710,943.30 in the previous period[43]. - Research and development expenses for the current period are ¥36,548,706.43, an increase of 23.9% from ¥29,484,748.02 in the previous period[43]. - Tax expenses for the current period are ¥26,108,725.62, a decrease of 76.0% from ¥109,007,283.46 in the previous period[46]. - Financial expenses for the current period are ¥99,213,717.10, down 41.8% from ¥170,413,196.05 in the previous period[43]. - The company reported a significant reduction in interest expenses, which were ¥121,543,330.12 for the current period compared to ¥184,524,281.29 in the previous period[43]. Shareholder Information - The company reported a total of 61,877 common shareholders at the end of the reporting period[13]. - The largest shareholder, North China Huajin Chemical Group Co., Ltd., held 27.16% of the shares, totaling 434,445,409 shares[13]. Government Subsidies and Taxation - The company received government subsidies amounting to ¥2,410,238.71 during the reporting period[8]. - Tax and additional fees decreased by 57.38% to ¥610,513,121.35 due to the impact of the pandemic[16]. - Other income fell by 83.43% to ¥2,360,238.71, attributed to three government subsidies received in the previous period[16].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥13,263,082,440.38, a decrease of 29.52% compared to ¥18,817,469,644.36 in the same period last year[23]. - The net profit attributable to shareholders was a loss of ¥669,092,128.99, representing a decline of 211.64% from a profit of ¥599,335,698.82 in the previous year[23]. - The net cash flow from operating activities was -¥1,009,813,735.63, a decrease of 49.84% compared to -¥673,916,394.98 in the same period last year[23]. - The company reported a basic earnings per share of -¥0.4183, down 211.64% from ¥0.3747 in the same period last year[23]. - The company's operating revenue for the current period is ¥13,263,082,440.38, a decrease of 29.52% compared to ¥18,817,469,644.36 in the same period last year[40]. - The operating cost decreased by 19.76% to ¥12,484,496,839.43 from ¥15,559,321,284.78 year-on-year[40]. - The net profit for the first half of 2020 was a loss of CNY 689,056,745.19, compared to a profit of CNY 637,580,627.51 in the same period of 2019[133]. - The company reported a significant decrease in tax expenses, which were CNY 281,208,661.65 for the first half of 2020, down from CNY 1,093,773,818.15 in the previous year, reflecting a change in profitability[130]. Assets and Liabilities - Total assets at the end of the reporting period were ¥30,584,155,746.43, an increase of 4.17% from ¥29,359,202,252.30 at the end of the previous year[23]. - The net assets attributable to shareholders decreased by 7.48% to ¥12,591,712,927.60 from ¥13,609,039,892.51 at the end of the previous year[23]. - The company's total assets increased to CNY 26,067,150,048.92 in the first half of 2020, up from CNY 24,141,135,339.89 in the previous year, representing an increase of 8.0%[129]. - Total liabilities rose to CNY 14,678,376,604.83, compared to CNY 11,773,198,962.05 in the previous year, indicating an increase of 24.3%[129]. - The company's total liabilities at the end of the period were 11,388,773,444.09 CNY, indicating a substantial financial obligation[161]. Cash Flow - The net cash flow from investing activities increased by 134.50% to ¥27,467,071.01 from -¥79,605,447.76 year-on-year[40]. - The net cash flow from financing activities improved by 137.28% to ¥1,382,752,717.30 from -¥3,709,319,828.47 in the same period last year[40]. - Cash flow from operating activities for the first half of 2020 was a net outflow of CNY 1.01 billion, worsening from a net outflow of CNY 673.92 million in the first half of 2019[141]. - The company experienced a net cash inflow from financing activities of CNY 1.38 billion in the first half of 2020, a significant improvement from a net outflow of CNY 3.71 billion in the same period of 2019[146]. Investments and Development - The company maintained a production load of 90.88% for refining and 103.32% for ethylene during the pandemic, ensuring stable operations[34]. - New product development includes high-impact transparent polypropylene and ABS automotive specialty resin, which are in trial production[36]. - The company completed 41 mature formulations for gasoline and diesel engine oils, with 9 formulations already in production[36]. - The company invested in environmental protection projects, including the renovation of rainwater and sewage separation systems in 4 enterprises[36]. - Research and development expenses for the first half of 2020 were CNY 38,105,029.66, slightly down from CNY 39,717,457.98 in the same period of 2019, indicating a focus on cost management[130]. Shareholder Information - The total number of shares before the recent change was 1,599,442,537, with a post-change total of 1,599,442,537 shares, indicating no net change[80]. - The number of shareholders at the end of the reporting period was 65,114, with the largest shareholder, Beifang Huajin Chemical Group, holding 434,445,409 shares (27.16%)[86]. - The company has not engaged in any significant asset or equity acquisitions or disposals during the reporting period, maintaining its current investment strategy[64]. - The company has not implemented any share buyback programs during the reporting period[80]. Environmental and Social Responsibility - The company reported no major environmental violations or issues related to pollution during the reporting period[71]. - The company plans to donate CNY 300,000 and 280 tons of urea for poverty alleviation in the second half of 2020[76]. - The company has established an emergency response plan for environmental incidents, which has been filed[75]. - The company has publicly disclosed real-time monitoring data for key pollution sources[75]. Financial Management and Compliance - The financial statements are prepared in accordance with the latest enterprise accounting standards, ensuring accurate reflection of the company's financial status[173]. - The company uses Renminbi (CNY) as its functional currency for accounting purposes[176]. - The company has not issued any guarantees for its bonds[111]. - The company confirmed that there were no major litigation or arbitration matters during the reporting period, indicating a stable legal environment[59].

Financial Performance - The company's operating revenue for Q1 2020 was ¥5,861,722,442.51, a decrease of 33.71% compared to ¥8,611,390,241.19 in the same period last year[8]. - The net profit attributable to shareholders was -¥887,566,678.31, representing a decline of 335.21% from ¥344,964,785.95 in the previous year[8]. - The net cash flow from operating activities was -¥3,357,669,079.86, a decrease of 323.43% compared to -¥840,828,139.21 in the same period last year[8]. - Basic earnings per share were -¥0.5549, down 335.23% from ¥0.2157 in the previous year[8]. - Total revenue for the period was ¥5,861,722,442.51, a decrease of 33.71% compared to ¥8,842,476,363.16 in the previous year, primarily due to the impact of the pandemic on sales[1]. - The net profit for the current period is a loss of ¥899,299,683.59, compared to a profit of ¥395,807,979.55 in the previous period, indicating a significant decline[50]. - The operating profit for the current period is a loss of ¥970,647,531.23, compared to a profit of ¥496,523,903.87 in the previous period[50]. - The total comprehensive income for the current period is a loss of ¥899,299,683.59, compared to a gain of ¥395,807,979.55 in the previous period[50]. Assets and Liabilities - Total assets at the end of the reporting period were ¥29,985,283,995.38, an increase of 2.13% from ¥29,359,202,252.30 at the end of the previous year[8]. - The net assets attributable to shareholders decreased by 6.38% to ¥12,740,651,225.84 from ¥13,609,039,892.51 at the end of the previous year[8]. - Total liabilities increased to ¥16,718,320,339.24, up from ¥15,213,067,305.30, representing a growth of approximately 9.87%[36]. - Current liabilities rose to ¥10,094,771,069.58, compared to ¥9,045,730,710.94, indicating an increase of about 11.6%[36]. - Non-current liabilities totaled ¥6,623,549,269.66, up from ¥6,167,336,594.36, reflecting a growth of approximately 7.38%[36]. - Total equity decreased to ¥13,266,963,656.14 from ¥14,146,134,947.00, a decline of approximately 6.19%[36]. - The total owner's equity attributable to the parent company decreased to ¥12,740,651,225.84 from ¥13,609,039,892.51, a decline of about 6.36%[36]. Cash Flow - Cash received from operating activities was ¥6,449,320,529.01, down 34.04% from ¥9,777,444,288.76, reflecting the pandemic's impact on sales[1]. - The cash inflow from operating activities was CNY 6,459,892,338.62, a decrease of approximately 34.5% compared to CNY 9,798,746,508.45 in the previous period[58]. - The net cash outflow from operating activities was CNY -3,357,669,079.86, worsening from CNY -792,963,499.33 in the previous period[61]. - The cash inflow from financing activities was CNY 3,450,000,000.00, significantly higher than CNY 1,100,000,000.00 in the previous period, marking a 214.5% increase[61]. - The total cash and cash equivalents at the end of the period were CNY 5,215,014,744.85, down from CNY 6,833,195,704.06 in the previous period[64]. Inventory and Receivables - Accounts receivable increased by 102.49% to ¥270,562,665.81 from ¥133,620,657.50, attributed to normal business operations[1]. - Inventory rose by 65.78% to ¥6,205,596,076.83 from ¥3,743,178,523.07, influenced by decreased sales due to the pandemic[1]. - Other current assets surged by 482.02% to ¥398,863,350.20 from ¥68,530,768.88, mainly due to the formation of VAT credits[1]. - The company reported an asset impairment loss of ¥294,719,800.66, a 219.53% increase from ¥92,234,965.03, primarily due to inventory write-downs[1]. Shareholder Information - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[11]. - The top shareholder, Northern Huajin Chemical Group Co., Ltd., holds 32.16% of the shares, totaling 514,417,536 shares[13]. Research and Development - R&D expenses decreased by 31.61% to ¥12,127,389.63 from ¥17,732,675.18, due to reduced normal business operations[1]. - Research and development expenses decreased to ¥12,127,389.63 from ¥17,732,675.18, reflecting a reduction of 31.8%[47]. Other Financial Metrics - The financial expenses for the current period are ¥98,745,490.36, down from ¥122,167,425.96, a decrease of 19.1%[47]. - The tax expenses for the current period are ¥114,988,307.49, significantly lower than ¥462,668,789.78 in the previous period, a decrease of 75.2%[47]. - The investment income for the current period is ¥797,808.22, with no previous period data available for comparison[47].

Financial Performance - The company's operating revenue for 2019 was CNY 39.61 billion, an increase of 6.94% compared to CNY 36.68 billion in 2018[23]. - The net profit attributable to shareholders for 2019 was CNY 992.96 million, a decrease of 13.23% from CNY 1.06 billion in 2018[23]. - The net profit after deducting non-recurring gains and losses was CNY 886.26 million, down 13.05% from CNY 1.01 billion in the previous year[23]. - Cash flow from operating activities increased by 8.01% to CNY 2.72 billion, compared to CNY 2.37 billion in 2018[23]. - Basic and diluted earnings per share for 2019 were both CNY 0.62, a decline of 13.89% from CNY 0.66 in 2018[23]. - The total assets at the end of 2019 were CNY 29.36 billion, a decrease of 14.18% from CNY 32.46 billion at the end of 2018[23]. - The net assets attributable to shareholders increased by 2.73% to CNY 13.61 billion, compared to CNY 13.17 billion in 2018[23]. - The weighted average return on equity for 2019 was 7.22%, down from 8.32% in 2018[23]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.35 per 10 shares, totaling CNY 373.56 million based on the share base of 1,599,442,537 shares[7]. - The cash dividend for 2019 was set at 2.35 CNY per 10 shares, totaling 375,868,996.20 CNY, which represents 37.85% of the net profit attributable to shareholders[92]. - The cash dividend payout ratio for 2018 was 37.89%, with a total cash dividend of 399,860,634.25 CNY based on a net profit of 1,055,368,991.36 CNY[92]. - The total cash dividend for 2019, including other methods, accounted for 40.15% of the total distributable profit[93]. Operational Highlights - The company's total revenue for Q4 2019 reached ¥10,962,679,590.18, marking an increase compared to previous quarters[28]. - The net profit attributable to shareholders for Q1 2019 was ¥377,343,490.98, but dropped to ¥67,358,984.01 by Q4 2019[28]. - The net cash flow from operating activities showed significant improvement, with Q3 2019 at ¥1,733,173,451.32 and Q4 2019 at ¥1,664,217,999.67[28]. - The production load of the urea plant reached 95.74% with an annual output of 61,000 tons, achieving historical best levels[41]. - The company processed 2.11 million tons of crude oil, setting a new historical high for the year[41]. Investments and Acquisitions - The company completed the acquisition of all equity in Xinjiang Fertilizer, which was included in the consolidated financial statements after December 20, 2019[96]. - The company signed a significant acquisition agreement for the entire equity of Xinjiang Fertilizer, which was included in the consolidated financial statements after completion[55]. - The company acquired 100% of Aksu Huajin Chemical Fertilizer Co., Ltd. for ¥221,408,695.78, approved by the board on December 20, 2019[72]. - The acquisition of Xinjiang Fertilizer's entire equity was completed for CNY 2,214.09 million, with a book value of CNY 678.46 million and an assessed value of CNY 1,584.59 million[103]. Research and Development - Research and development expenses increased by 10.86% to ¥100,209,482.50, representing 0.25% of operating income[62]. - The company had 236 R&D personnel in 2019, an increase of 10.28% from 214 in 2018[62]. - Research and development expenditures increased by 18% to 500 million RMB, focusing on sustainable chemical technologies[150]. Environmental and Social Responsibility - The company has implemented environmental protection measures, with normal operation of pollution prevention facilities[120]. - The company has received environmental impact assessment approvals for multiple projects, including a desulfurization project that passed approval in August 2019[120]. - The company completed a total of 5 poverty alleviation tasks in 2019, with a total funding of 390,000 RMB allocated for various initiatives[113]. - The company donated 300,000 RMB to support the purchase of a machine that can produce 1.5 million bags annually, increasing the village's collective income by 40,000 RMB per year[113]. - The company provided 370,000 RMB in materials and funds for poverty alleviation efforts in Xinjiang, including a donation of 280 tons of urea valued at approximately 320,000 RMB to support local agriculture[113]. Corporate Governance - The company has established a sound corporate governance structure, ensuring clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[112]. - The company has established a mechanism for checks and balances in corporate governance, ensuring compliance with laws and regulations[112]. - The board of directors has established specialized committees, including a strategy committee and an audit committee, to ensure efficient decision-making[168]. - Independent directors attended 100% of board meetings and shareholder meetings, demonstrating active engagement in governance[173]. Financial Position and Credit - The company's asset-liability ratio improved to 51.82% in 2019 from 59.64% in 2018, a decrease of 7.82%[195]. - The company's credit rating is AAA, and the bond's credit rating is also AAA according to Zhongcheng Credit Rating Co., Ltd.[192]. - The company received a total bank credit line of 34.349 billion RMB, of which 12.5 billion RMB has been utilized, and all bank loans were repaid on time[197]. - The company has established a special account for the operation of raised funds, ensuring compliance with regulations[189]. Employee and Management Information - The total number of employees in the company is 8,649, with 5,816 in the parent company and 2,833 in major subsidiaries[162]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounts to 12.72 million yuan[163]. - The compensation for middle and senior management is linked to annual performance, while lower-level employees receive a monthly salary based on performance[163]. - The company plans to conduct various training programs in 2020, including management and technical training[164].

Financial Performance - Net profit attributable to shareholders increased by 29.90% to CNY 385.03 million for the reporting period[8] - Operating revenue for the period rose by 6.18% to CNY 9.65 billion, with a year-to-date increase of 10.30% to CNY 27.98 billion[8] - Basic earnings per share increased by 29.90% to CNY 0.2407, while diluted earnings per share remained the same[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 35.09% to CNY 373.35 million[8] - The company's total profit for the current period is CNY 1.18 billion, down 18.7% from CNY 1.45 billion in the previous period[59] - The basic earnings per share for the current period is CNY 0.5772, compared to CNY 0.6622 in the previous period, reflecting a decrease of 12.8%[62] - The total profit for the current period was ¥512,153,433.10, up from ¥374,898,033.37 in the previous period, indicating a growth of 36.7%[52] Cash Flow - Net cash flow from operating activities decreased by 61.89% to CNY 948.95 million[8] - Cash outflow from operating activities totaled ¥31,380,000,275.82, up from ¥26,558,795,506.01, resulting in a net cash flow from operating activities of ¥948,946,197.06, down 61.9% from ¥2,489,718,878.44[70] - Investment cash inflow was ¥5,400,704.00, significantly lower than ¥259,751,410.31 in the previous period, leading to a net cash flow from investing activities of -¥111,111,689.54[73] - Financing cash inflow decreased to ¥3,120,000,000.00 from ¥9,635,000,000.00, while cash outflow for financing activities was ¥6,934,629,745.08, resulting in a net cash flow from financing activities of -¥3,814,629,745.08[73] - The net increase in cash and cash equivalents was -¥2,976,795,237.56, compared to an increase of ¥86,455,728.05 in the previous period[73] Assets and Liabilities - Total assets decreased by 14.18% to CNY 27.86 billion compared to the end of the previous year[8] - Cash and cash equivalents decreased by 34.41% to ¥5,673,603,437.96 from ¥8,650,398,675.52 due to loan repayments[16] - Total liabilities decreased to ¥11,197,224,434.70 from ¥15,771,682,109.28, a reduction of approximately 29.2%[45] - The company's total assets decreased to ¥23,673,013,637.01 from ¥28,072,655,430.76, a decline of about 15.5%[45] - Long-term borrowings decreased by 47.53% to ¥3,265,631,316.05 from ¥6,224,126,930.26 as a result of loan repayments[16] Operating Costs and Expenses - Total operating costs amounted to ¥9,126,934,720.49, up from ¥8,488,684,165.35, indicating an increase of about 7.5%[46] - The company's operating costs increased to ¥6,455,712,890.97, up from ¥5,672,608,361.93 in the previous period, which is a rise of 13.8%[53] - Research and development expenses were ¥29,484,748.02, compared to ¥19,003,737.70 in the previous period, reflecting a significant increase of approximately 55%[46] - Research and development expenses for the current period were ¥23,433,859.91, an increase of 54.0% from ¥15,246,905.75 in the previous period[53] - The income tax expense for the current period was ¥109,007,283.46, compared to ¥59,326,669.55 in the previous period, representing an increase of 83.8%[52] Other Income and Expenses - Other income increased by 713.75% to CNY 13.23 million due to government subsidies received[15] - Non-operating income rose by 98.17% to CNY 36.79 million, influenced by insurance compensation received[15] - The company reported a decrease in income tax expenses by 42.40% to CNY 198.79 million, reflecting normal business operations[15] - The company reported a decrease in financial expenses, with interest expenses at ¥113,056,968.79, down from ¥125,288,760.66 in the previous period, a reduction of 9.8%[52]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥18,328,682,761.12, representing a 12.59% increase compared to ¥16,278,444,549.52 in the same period last year[23]. - The net profit attributable to shareholders was ¥538,207,007.57, a decrease of 29.44% from ¥762,714,947.29 in the previous year[23]. - The basic earnings per share decreased by 29.44% to ¥0.3365 from ¥0.4769 in the same period last year[23]. - The total profit amounted to RMB 666 million, with zero major safety and environmental incidents reported during the period[38]. - The total operating revenue for the first half of 2019 reached ¥18,328,682,761.12, an increase of 12.6% compared to ¥16,278,444,549.52 in the same period of 2018[146]. - Net profit for the first half of 2019 was ¥576,451,936.26, a decrease of 26.8% from ¥787,791,968.02 in the first half of 2018[149]. - The total profit for the first half of 2019 was ¥666,234,001.54, compared to ¥1,073,603,680.05 in the same period of 2018, indicating a decline[149]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥746,519,323.34, a significant decline of 1,261.67% compared to ¥64,262,359.88 in the same period last year[23]. - Cash inflow from operating activities was CNY 21,137,409,099.99, compared to CNY 17,688,095,917.45 in the prior year, indicating a growth of approximately 8.2%[156]. - Cash outflow from operating activities totaled CNY 21,883,928,423.33, up from CNY 17,623,833,557.57, resulting in a net cash flow from operating activities of CNY -746,519,323.34, a significant decline from CNY 64,262,359.88[156]. - The company reported a net cash flow from investing activities of CNY -78,348,658.18, an improvement from CNY -187,388,995.50 in the previous period[159]. - The ending balance of cash and cash equivalents was CNY 4,234,018,753.58, an increase from CNY 3,920,106,078.60 year-over-year[159]. Assets and Liabilities - The total assets at the end of the reporting period were ¥27,513,185,299.50, down 15.24% from ¥32,460,677,530.24 at the end of the previous year[23]. - Total liabilities decreased from CNY 18,727,679,720.31 to CNY 13,583,800,672.97, a reduction of approximately 27.5%[136]. - Current liabilities decreased from CNY 9,628,691,722.26 to CNY 6,417,287,256.78, a decline of about 33.5%[136]. - Long-term borrowings decreased from CNY 6,224,126,930.26 to CNY 4,315,733,759.86, representing a decrease of approximately 30.7%[136]. - The company's total non-current liabilities decreased from CNY 9,098,987,998.05 to CNY 7,166,513,416.19, a reduction of approximately 21.2%[136]. Equity and Shareholder Information - The net assets attributable to shareholders increased by 1.20% to ¥13,332,259,553.11 from ¥13,174,481,488.95 at the end of the previous year[23]. - The total equity attributable to the parent company's owners at the end of the current period is CNY 13,332,259,553.11, reflecting an increase from the previous period[166]. - The total number of common shareholders at the end of the reporting period was 70,222, with the largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holding 32.16% of shares[97]. - The company has a total of 1,599,442,537 shares outstanding, with 1,599,439,081 shares being unrestricted[93]. - The company has not conducted any share repurchase transactions during the reporting period[94]. Operational Efficiency - The core production facilities, including refining and ethylene, operated at 100% capacity, with production loads reaching 99.1% and 108.32%, respectively, an increase of 6.86 and 1.84 percentage points year-on-year[39]. - The company maintained a 100% operation rate for its synthetic and urea facilities, with urea production reaching 298,000 tons, and large particle urea production increasing by 11,000 tons year-on-year[39]. - The marketing strategy led to a total external sales volume of 4.49 million tons, achieving a sales-to-production ratio of 101.6%[46]. - The company optimized its procurement strategy, reducing costs through various measures, including signing a price linkage agreement for gas and urea with CNOOC[42][43]. Environmental and Social Responsibility - The company reported a total sulfur dioxide emission of 1,841.477 tons per year, which exceeds the approved emission limit[83]. - The company emitted nitrogen oxides totaling 1,877.707 tons per year, also above the regulatory limit[83]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[87]. - The company plans to allocate 300,000 RMB for poverty alleviation efforts in Qing Shan Village, Liaoning Province[87]. Research and Development - Research and development expenses amounted to RMB 39.72 million, a decrease of 3.58% compared to RMB 41.19 million in the previous year[49]. - The company’s management reported a focus on cost control and efficiency improvements to enhance profitability moving forward[149]. Future Outlook and Strategy - The company aims to enhance its overall competitiveness and profitability through lean management strategies and innovation-driven development[66]. - The petrochemical business is focused on integrated, clustered, large-scale, and refined development, targeting a green chemical enterprise valued at over 100 billion yuan[67]. - The chemical fertilizer sector will undergo transformation by developing new technologies for deep processing of urea, extending the industrial chain, and increasing product added value[67].

Financial Performance - The company's operating revenue for Q1 2019 was ¥8,611,390,241.19, representing a 5.89% increase compared to ¥8,132,656,395.75 in the same period last year[8]. - Net profit attributable to shareholders was ¥344,964,785.95, up 11.05% from ¥310,648,214.81 year-on-year[8]. - Basic earnings per share increased to ¥0.2157, reflecting an 11.07% growth from ¥0.1942 in the same quarter last year[8]. - Total operating revenue for the first quarter of 2019 was CNY 8,611,390,241.19, an increase of 5.9% compared to CNY 8,132,656,395.75 in the same period last year[46]. - The total profit for the period was CNY 463,814,707.08, compared to CNY 435,350,628.44 in the previous year, marking an increase of about 6%[49]. - The company's operating profit was CNY 464,219,913.84, which is higher than CNY 434,036,229.03 from the previous year, showing an increase of approximately 7%[49]. - The company’s total comprehensive income for the period was CNY 363,429,274.52, compared to CNY 323,057,782.39 in the previous year, representing an increase of approximately 12.5%[52]. Cash Flow - The net cash flow from operating activities improved by 48.81%, reaching -¥840,828,139.21 compared to -¥1,642,577,714.63 in the previous year[8]. - Cash received from other operating activities fell by 35.67% to ¥21,108,719.69 from ¥32,810,969.17, due to last year's recovery of interest on bank deposits[20]. - Cash paid for the acquisition of fixed assets decreased by 63.31% to ¥52,382,117.97 from ¥142,763,833.79, influenced by last year's major renovation preparations[20]. - Operating cash inflow totaled CNY 9,626,484,931.21, an increase from CNY 8,774,928,270.96 in the previous period[60]. - Operating cash outflow amounted to CNY 10,467,313,070.42, slightly higher than CNY 10,417,505,985.59 last year[60]. - Cash inflow from operating activities was CNY 7,106,438,626.30, up from CNY 6,799,890,259.59[64]. Assets and Liabilities - Total assets decreased by 9.26% to ¥29,453,519,572.25 from ¥32,460,677,530.24 at the end of the previous year[8]. - Total current assets decreased to ¥14,050,239,134.20 from ¥16,657,784,142.27, reflecting a decline in cash and cash equivalents[29]. - Total liabilities decreased to CNY 15,345,129,317.14 from CNY 18,727,679,720.31, a reduction of about 18.5%[36]. - Total equity increased to CNY 14,108,390,255.11 from CNY 13,732,997,809.93, reflecting a growth of approximately 2.7%[36]. - The company reported a decrease in long-term borrowings to CNY 5,979,302,720.17 from CNY 6,224,126,930.26, a decline of about 3.9%[36]. Expenses and Costs - Total operating costs for the first quarter of 2019 were CNY 8,149,752,867.06, up from CNY 7,698,896,894.31, reflecting a year-over-year increase of 5.9%[46]. - Management expenses decreased by 35.27% to ¥342,707,218.27, primarily due to the impact of last year's provision for major repairs[16]. - The company reported an increase in asset impairment losses by 288.77%, totaling ¥92,234,965.03, due to normal operational increases[16]. - Research and development expenses for the period were CNY 14,139,557.61, slightly down from CNY 14,859,413.38 in the previous year, indicating a decrease of about 4.8%[53]. Shareholder Information - The top shareholder, North China Huajin Chemical Group Co., Ltd., holds 32.16% of the shares, with a total of 514,417,536 shares[13].