Financial Performance - The company's operating revenue for 2021 was ¥38,552,307,081.15, representing a 26.66% increase compared to ¥30,437,437,454.92 in 2020[26]. - The net profit attributable to shareholders for 2021 was ¥893,882,586.08, a significant increase of 175.47% from ¥324,489,612.57 in 2020[26]. - The net profit after deducting non-recurring gains and losses was ¥883,727,611.59, up 246.29% from ¥255,201,758.12 in the previous year[26]. - The basic earnings per share for 2021 was ¥0.56, an increase of 180.00% compared to ¥0.20 in 2020[26]. - The total assets at the end of 2021 were ¥32,115,865,058.05, reflecting a 15.11% increase from ¥27,899,652,411.93 at the end of 2020[26]. - The net assets attributable to shareholders at the end of 2021 were ¥14,280,348,965.29, a 5.50% increase from ¥13,535,819,313.84 in 2020[26]. - The company's cash flow from operating activities for 2021 was ¥2,804,759,467.21, a slight decrease of 0.35% from ¥2,814,637,063.20 in 2020[26]. - The weighted average return on equity for 2021 was 6.43%, up from 2.40% in 2020, indicating improved profitability[26]. Revenue Breakdown - Total revenue for the year reached ¥38,552,307,181.15, with a quarterly breakdown of ¥7,745,509,915.18 in Q1, ¥10,891,695,215.58 in Q2, ¥6,235,275,879.30 in Q3, and ¥13,679,826,071.09 in Q4[31]. - The petrochemical sector contributed CNY 32.89 billion, accounting for 85.32% of total revenue, with a year-on-year growth of 24.63%[52]. - The fertilizer segment saw a significant increase in revenue, reaching CNY 2.81 billion, up 63.83% from the previous year[52]. - The revenue from the petrochemical industry reached ¥32,894,260,369.78, representing a 24.63% increase year-over-year, with a gross margin of 19.23%[56]. Profitability and Costs - The overall industry revenue profit margin was 8.04%, the highest level since 2010, with a year-on-year increase of 3.43 percentage points[37]. - The gross profit margin for crude oil processing and petroleum products was 21.86%, with revenue increasing by 31.16% year-over-year[56]. - The company reported a significant increase in the cost of methanol, which rose by 2,193.63% to ¥33,058,622.55[60]. Cash Flow and Investments - Operating cash inflow totaled ¥44,265,298,111.68 in 2021, representing a 29.70% increase from ¥34,129,195,181.12 in 2020[71]. - Operating cash outflow increased by 32.40% to ¥41,460,538,644.47 in 2021, primarily due to rising crude oil prices[71]. - Investment cash inflow decreased by 90.66% to ¥11,612,478.19, mainly due to the previous year's recovery of financial investments[71]. Research and Development - R&D investment amounted to ¥124,678,720.34 in 2021, an increase of 9.07% from ¥114,314,885.53 in 2020[71]. - The company is focused on developing high-value-added products and enhancing market competitiveness through ongoing R&D efforts[70]. - The company aims to produce 12,000 tons of the new polyethylene WP4570-H product, which has received initial recognition from downstream manufacturers[66]. Market and Industry Trends - The company anticipates a slow recovery in the global economy post-COVID-19, with increased demand for high-quality petrochemical products[88]. - The domestic market for high-end specialty chemicals remains in a state of supply shortage, presenting market opportunities for the company's structural adjustment and transformation[90]. - The company is under pressure from increased competition due to new investments from emerging private enterprises and foreign companies, leading to a serious oversupply of regional products[91]. Corporate Governance - The company maintains independence from its controlling shareholder in five aspects: business, personnel, assets, organization, and finance, ensuring complete operational autonomy[104]. - The company has established an independent financial department with its own accounting system and tax obligations[105]. - The company adheres to the information disclosure requirements set by the Shenzhen Stock Exchange, ensuring timely and accurate communication with shareholders[104]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[156]. - The company reported a total sulfur dioxide emissions of 1,841.477 tons/year, nitrogen oxides at 1,877.707 tons/year, and particulate matter at 496.297 tons/year, exceeding the approved emission limits[158]. - The company has implemented two new environmental protection projects in 2021, including a waste alkali treatment project and a tail gas treatment system for the sulfur workshop[163]. Social Responsibility - The company donated a total of 1.7379 million yuan for poverty alleviation and rural revitalization efforts in 2021, including 800,000 yuan to designated assistance areas[168]. - The company’s commitment to social responsibility is evident through its various initiatives aimed at enhancing the self-sufficiency of impoverished regions[170]. Shareholder Information - The total number of shares remains unchanged at 1,599,442,537, with no new shares issued[189]. - The largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holds 27.16% of shares, totaling 434,445,409 shares[194]. - The company’s controlling shareholder remains unchanged during the reporting period[197].

Financial Performance - The company's operating revenue for Q1 2022 was ¥10,694,205,315.13, representing a 37.88% increase compared to ¥7,756,365,667.23 in the same period last year[4] - The net profit attributable to shareholders of the listed company decreased by 45.12% to ¥284,066,351.74 from ¥517,578,841.71 in the previous year[4] - The basic earnings per share dropped by 45.12% to ¥0.1776 from ¥0.3333 in the previous year[4] - Net profit for the current period was ¥291,776,076.69, a decrease of 45.3% from ¥536,914,423.44 in the previous period[24] - Basic earnings per share for the current period were ¥0.1776, down from ¥0.3236 in the previous period[27] - The total comprehensive income for the current period was ¥291,776,076.69, compared to ¥536,914,423.44 in the previous period, indicating a decline of 45.3%[27] Cash Flow - The net cash flow from operating activities was negative at -¥2,660,299,246.81, a decline of 128.08% compared to -¥1,166,409,681.54 in the same period last year[4] - Cash flow from operating activities totaled ¥13,133,409,156.72, an increase of 35.5% compared to ¥9,720,959,729.98 in the previous period[28] - The net cash flow from operating activities was -$2.66 billion, compared to -$1.17 billion in the previous period, indicating a significant decline in operational cash generation[31] - Total cash outflow from operating activities increased to $15.79 billion from $10.89 billion, reflecting higher operational expenses[31] - Cash flow from investing activities showed a net outflow of -$56.73 million, an improvement from -$90.57 million in the prior period[31] - Cash flow from financing activities resulted in a net outflow of -$981.34 million, contrasting with a net inflow of $86.53 million previously, indicating increased debt repayment[31] - The company reported a significant increase in cash outflow for debt repayment, which rose to $892.01 million from $223.69 million[31] - The company’s cash outflow related to investing activities decreased, with cash paid for fixed assets dropping to $56.73 million from $90.57 million[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥31,918,489,419.08, a decrease of 3.49% from ¥33,072,439,232.26 at the end of the previous year[4] - The company's total current assets decreased from 17,755,260,742.20 to 16,985,335,266.58, a decline of approximately 4.33%[14] - Total assets decreased from 33,072,439,232.26 to 31,918,489,419.08, a reduction of approximately 3.48%[17] - Current liabilities rose from 7,711,417,892.20 to 8,020,679,326.60, an increase of about 4.00%[17] - Total liabilities decreased to ¥16,759,423,250.39 from ¥18,139,600,126.05, reflecting a reduction of 7.6%[20] - Non-current liabilities decreased from 10,064,349,775.81 to 8,384,212,352.36, a reduction of about 16.73%[17] Inventory and Receivables - Accounts receivable increased by 429.23% to ¥873,017,097.64, indicating a significant rise in normal business operations[8] - Inventory rose by 53.71% to ¥6,876,024,902.78, attributed to rising international oil prices and decreased sales due to the pandemic[8] - The company reported a significant increase in accounts receivable from 164,960,087.07 to 873,017,097.64, an increase of approximately 429.36%[14] - Inventory increased significantly from 4,473,446,856.63 to 6,876,024,902.78, representing a growth of about 53.67%[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 1,604, with the largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holding 27.16% of shares, equating to 434,445,409 shares[11] Expenses - Total operating costs for the current period were ¥10,301,279,512.54, up 45.5% from ¥7,078,521,192.15 in the previous period[21] - Research and development expenses for the current period were ¥25,814,453.57, slightly down from ¥28,042,241.22 in the previous period[24] - The company reported a decrease in financial expenses to ¥56,089,898.33 from ¥77,095,272.36, a reduction of 27.2%[24]

Financial Performance - The company's operating revenue for 2021 was ¥38,552,307,081.15, representing a 26.66% increase compared to ¥30,437,437,454.92 in 2020[26] - The net profit attributable to shareholders for 2021 was ¥893,882,586.08, a significant increase of 175.47% from ¥324,489,612.57 in 2020[26] - The net profit after deducting non-recurring gains and losses was ¥883,727,611.59, up 246.29% from ¥255,201,758.12 in the previous year[26] - The basic earnings per share for 2021 was ¥0.56, an increase of 180.00% compared to ¥0.20 in 2020[26] - The total assets at the end of 2021 amounted to ¥32,115,865,058.05, reflecting a 15.11% increase from ¥27,899,652,411.93 at the end of 2020[26] - The net assets attributable to shareholders at the end of 2021 were ¥14,280,348,965.29, a 5.50% increase from ¥13,535,819,313.84 at the end of 2020[26] - The company generated a net cash flow from operating activities of ¥2,804,759,467.21, slightly down by 0.35% from ¥2,814,637,063.20 in 2020[26] - The weighted average return on net assets for 2021 was 6.43%, up from 2.40% in 2020, indicating improved profitability[26] Revenue Breakdown - Total revenue for the year reached ¥38,542,307,181.15, with a quarterly breakdown of ¥7,745,509,915.18 in Q1, ¥10,891,695,215.58 in Q2, ¥6,235,275,879.30 in Q3, and ¥13,679,826,071.09 in Q4[31] - Net profit attributable to shareholders was ¥533,075,239.71 in Q1, ¥166,057,330.01 in Q2, a loss of ¥177,620,376.95 in Q3, and ¥372,370,393.31 in Q4, indicating volatility in profitability throughout the year[31] - The net cash flow from operating activities showed significant fluctuations, with a negative cash flow of ¥1,066,463,731.03 in Q1, positive cash flow of ¥2,090,421,328.43 in Q2, a negative cash flow of ¥3,061,947,259.92 in Q3, and a positive cash flow of ¥4,842,749,129.73 in Q4[31] Industry Performance - The petrochemical industry saw a revenue profit margin of 8.04% in 2021, the highest level since 2010, reflecting a year-on-year increase of 3.43 percentage points[37] - The refining sector achieved a revenue of ¥4.4 trillion and a profit of ¥187.4 billion, marking year-on-year growth of 30.1% and 318.2%, respectively[37] - The chemical industry reached a revenue of ¥8.7 trillion and a profit of ¥793.2 billion, with year-on-year growth of 31.1% and 85.4%, respectively, setting historical highs[37] - In 2021, the crude oil processing volume exceeded 700 million tons, reaching 703 million tons, a year-on-year increase of 4.3%[38] Product and Market Development - The company focuses on the production and sales of petrochemicals and chemical fertilizers, with key products including diesel, polypropylene, polyethylene, and ABS resins[39] - The company developed 330 new customers, significantly increasing the number of strategic and terminal clients[47] - New product development led to the trial production and promotion of 8 new polyolefin grades, contributing positively to revenue[50] - The company aims to produce 12,000 tons of the new polyethylene WP4570-H product, which has received initial recognition from downstream manufacturers[66] Cash Flow and Investments - Operating cash inflow increased by 29.70% to ¥44,265,298,111.68 in 2021, while operating cash outflow rose by 32.40% to ¥41,460,538,644.47[74] - Investment cash inflow decreased significantly by 90.66% to ¥11,612,478.19, primarily due to the previous year's recovery of financial investments[74] - The company achieved a net increase in cash and cash equivalents of ¥1,802,009,973.61, a substantial increase of 176.72% year-on-year[74] Environmental and Social Responsibility - The company reported a total sulfur dioxide emissions of 1841.477 tons/year, nitrogen oxides at 1877.707 tons/year, and particulate matter at 496.297 tons/year, exceeding the approved emission limits[158] - The company has implemented environmental protection measures, including the construction of two new environmental projects in 2021, aimed at reducing emissions and improving waste management[163] - The company donated a total of 1.7379 million yuan for poverty alleviation and rural revitalization efforts in 2021, including 800,000 yuan to designated assistance areas[168] - The company emphasizes the importance of environmental protection and sustainable development, increasing investment in environmental initiatives and improving resource utilization efficiency[167] Governance and Management - The company maintains independence from its controlling shareholder in five aspects: business, personnel, assets, organization, and finance[104] - The company has established an independent financial department with its own accounting system and tax obligations[105] - The company has a robust governance structure to protect investor rights, ensuring fair and timely information disclosure to all shareholders[164] - The company has established a scientific compensation management system and benefits-sharing mechanism to protect employee rights and enhance workplace safety[164] Shareholder Information - The total number of common shareholders at the end of the reporting period was 53,604, a decrease from 55,439 in the previous month[197] - The largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holds 27.16% of shares, totaling 434,445,409 shares[197] - The company has not experienced any changes in its controlling shareholder during the reporting period[200] - The top ten unrestricted shareholders did not engage in any repurchase agreements during the reporting period[197]

Financial Performance - The company's operating revenue for Q3 2021 was ¥6,235,275,879.30, a decrease of 12.78% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥177,620,376.95, representing a decline of 135.37% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥188,839,880.94, down 138.31% from the previous year[3]. - Total operating revenue for the current period reached ¥24,872,481,010.06, an increase of 21.5% compared to ¥20,412,384,633.87 in the previous period[21]. - Net profit for the current period was ¥552,187,597.52, a significant recovery from a net loss of ¥177,647,268.14 in the previous period[24]. - Earnings per share (EPS) for the current period was ¥0.3261, compared to a loss per share of ¥0.1044 in the previous period[27]. - The company reported a total profit of ¥680,390,323.82, recovering from a loss of ¥104,166,754.63 in the previous period[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥30,668,452,633.69, an increase of 9.92% compared to the end of the previous year[3]. - Total assets reached RMB 30.67 billion, compared to RMB 27.90 billion at the end of 2020, marking an increase of 9.9%[16]. - Total liabilities were RMB 7.41 billion, slightly down from RMB 7.48 billion, showing a decrease of 0.9%[16]. - Total liabilities increased to ¥16,152,131,335.22 from ¥13,787,713,303.31, marking a rise of 25.5%[20]. - The total non-current liabilities amounted to ¥8,738,513,995.29, an increase from ¥6,306,610,511.71, reflecting a growth of 38.6%[20]. - The company’s total assets amounted to 27,899,652,411.93, remaining unchanged from the previous period[37]. - The total liabilities were 7,481,102,791.60, consistent with the previous period[37]. Cash Flow - The company's cash flow from operating activities was -¥971,525,931.49 for the year-to-date period[3]. - Cash inflow from operating activities totaled ¥28,727,272,720.25, an increase from ¥23,687,751,777.25 in the previous period[30]. - The net cash flow from operating activities was -971,525,931.49, compared to -971,972,183.03 in the previous period[31]. - Total cash outflow from operating activities amounted to 29,698,798,651.74, an increase from 24,659,723,960.28 in the prior period[31]. - Cash inflow from investment activities was 10,469,007.00, down from 106,008,913.12 in the previous period[31]. - The net cash flow from investment activities was -183,377,619.21, compared to 1,972,651.23 in the prior period[31]. - Cash inflow from financing activities totaled 3,810,000,000.00, a decrease from 9,542,734,200.00 in the previous period[31]. - The net cash flow from financing activities was 428,087,180.72, compared to -503,557,794.08 in the prior period[31]. - The ending balance of cash and cash equivalents was 7,040,119,608.38, compared to 5,642,184,824.18 in the previous period[31]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 54,424, with the largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holding 27.16% of shares[11]. - The largest shareholder, Northern Huajin Chemical Industry Group Co., Ltd., holds 434,445,409 shares, representing a significant portion of the company's equity[11]. - The number of preferred shareholders was not applicable, indicating no changes in this area[14]. Inventory and Receivables - The company's inventory increased by 85.41% to ¥5,264,274,914.38, influenced by rising crude oil prices[6]. - The company reported a significant increase in accounts receivable, which rose by 221.14% to ¥611,683,452.48, attributed to normal business operations[6]. - Inventory as of September 30, 2021, was RMB 5.26 billion, up from RMB 2.84 billion at the end of 2020, indicating an increase of 85.5%[14]. - Accounts receivable increased to RMB 611.68 million from RMB 190.47 million, reflecting a growth of 221.5%[14]. - The company reported a significant increase in prepayments, which rose to RMB 2.86 billion from RMB 1.82 billion, a growth of 57.2%[14]. Expenses - The company's management expenses rose by 30.70% to ¥1,149,446,298.50 due to major maintenance activities[7]. - Research and development expenses for the current period were ¥76,383,277.95, slightly up from ¥74,653,736.09 in the previous period[24]. - The company paid 3,224,337,009.65 in taxes, significantly higher than 1,081,371,366.45 in the previous period[31].

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].