山东胜利股份有限公司 2019 年第一季度报告 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王鹏先生、主管会计工作负责人李守清女士及会计机构负责人(会计主管人员) 申萌女士声明：保证季度报告中财务报表的真实、准确、完整。 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 山东胜利股份有限公司 2019 年第一季度报告全文 □ 是 √ 否 | 项 目 | 本报告期 | 上年同期 | 本报告期比上年同期 增减（%） | | | --- | --- | --- | --- | --- | | 营业收入（元） | 1,579,372,021.32 | 1,044,564,216.85 | | 51.20 | | 归属于上市公司股东的净利润 （元） | 34,332,377.29 | 32,959,546.11 | | 4.17 | | 归属于上市公司股东的扣除非经 常性损益的净利润（元） | 33 ...

Financial Performance - The company's operating revenue for 2018 was approximately ¥4.68 billion, an increase of 22.15% compared to ¥3.83 billion in 2017[10]. - The net profit attributable to shareholders for 2018 was approximately ¥102.53 million, representing a 64.57% increase from ¥62.30 million in 2017[10]. - The net cash flow from operating activities for 2018 was approximately ¥283.94 million, up 40.45% from ¥202.16 million in 2017[10]. - The basic earnings per share for 2018 was ¥0.12, a 71.43% increase compared to ¥0.07 in 2017[10]. - Total assets at the end of 2018 were approximately ¥6.43 billion, a 27.39% increase from ¥5.05 billion at the end of 2017[10]. - The company's net assets attributable to shareholders at the end of 2018 were approximately ¥2.27 billion, up 4.45% from ¥2.17 billion at the end of 2017[10]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, which was approximately ¥100.86 million, up 104.94% from ¥49.21 million in 2017[10]. - The weighted average return on equity for 2018 was 4.61%, an increase of 1.71 percentage points from 2.90% in 2017[10]. - The company reported a total comprehensive income of CNY 181,890,213.33, compared to CNY 122,703,196.56 in the previous year, an increase of 48.0%[180]. Revenue Breakdown - In 2018, the company achieved operating revenue of CNY 4.676 billion, with a net profit attributable to the parent company of CNY 103 million, representing a year-on-year net profit growth of 64.57%[22]. - The natural gas business generated operating revenue of CNY 3.369 billion, an increase of 31.18% compared to the previous year[22]. - Total revenue for 2018 reached ¥4,675,800,100.30, a year-on-year increase of 22.15% from ¥3,827,958,840.94 in 2017[27]. - Natural gas business generated ¥3,369,113,221.20, accounting for 72.05% of total revenue, with a growth of 31.18% compared to ¥2,568,271,344.09 in 2017[31]. - Trade business revenue surged by 174.39% to ¥451,115,304.34 from ¥164,404,184.37 in 2017, representing 9.65% of total revenue[31]. Cost and Expenses - The overall cost of sales for the natural gas business was ¥2,795,120,958.15, which constituted 71.00% of total costs, reflecting a 27.72% increase from the previous year[33]. - The company experienced a 20.97% decline in revenue from the pipeline manufacturing sector, which totaled ¥847,627,797.82 compared to ¥1,072,542,335.35 in 2017[31]. - The company's total operating costs increased, with the trade business costs rising by 159.85% to ¥438,444,749.42 from ¥168,730,952.65 in 2017[33]. - Sales expenses increased by 49.12% year-on-year, primarily due to increased labor, depreciation, and transportation costs associated with the natural gas business[41]. - Financial expenses rose by 86.29% year-on-year, attributed to an increase in the company's financing scale[40]. Strategic Focus and Business Development - The company has shifted its main business focus towards clean energy, moving away from diversified operations[8]. - The company is actively exploring value-added services in the natural gas sector, including gas appliance sales and e-commerce collaborations, to expand its profit margins[23]. - The company has established strategic partnerships with organizations like New Hope Energy and Gas Alliance to enhance resource sharing and collaboration in urban gas utilization[23]. - The company has made strategic acquisitions, including Weihai Shengli Huachang Gas Co., Ltd. and Chongqing Shengbang Gas Co., Ltd., contributing to the increase in fixed assets[18]. - The company plans to expand its market presence by entering three new provinces in 2019, aiming for a revenue increase of 15% in these regions[63]. Research and Development - The company has increased its investment in research and development to capture future opportunities in the gas and water sectors[24]. - Research and development expenses decreased by 16.52% year-on-year to ¥17,663,318.65, representing 0.38% of operating revenue[43]. - The company completed 11 R&D projects during the reporting period, including the development of various gas pipeline technologies[42]. - The company has allocated 100 million CNY for research and development in new energy technologies, focusing on natural gas applications[65]. Corporate Governance and Compliance - The company has engaged in investor communication activities, ensuring compliance with information disclosure regulations[69]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[77]. - The company guarantees the independence of its personnel, ensuring that key management positions are held exclusively within the listed company[78]. - The company has established an independent financial department and accounting system, ensuring financial independence[78]. - The company has committed to maintaining independent operations and minimizing related party transactions[79]. Shareholder and Equity Information - The company did not distribute dividends in 2018 due to negative cumulative net profits over the past three years, with profits retained for future natural gas business development[73]. - The cash dividend policy is compliant with the company's articles of association, ensuring protection of minority shareholders' rights[72]. - The total number of shareholders as of December 31, 2018, was 51,905, a decrease from 53,125 at the end of the previous month[115]. - The company reported a profit distribution of RMB 463,968.98 to shareholders, demonstrating a commitment to returning value[193]. Legal and Regulatory Matters - The company is involved in a lawsuit with Qingdao General Plastic Co., Ltd., with a claim amount of approximately ¥20.07 million (around $2.00 million) for economic losses due to failure to repay a bank loan[88]. - The company has provided a guarantee for the loan, and the related party is currently in the execution phase of the lawsuit[88]. - The company has not faced any situations that could lead to suspension or termination of its listing[86]. - There were no bankruptcy reorganization matters during the reporting period[87]. Environmental and Social Responsibility - The company actively participates in social responsibility initiatives, focusing on ecological improvement and regional economic development[98]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[99]. - The company has not initiated targeted poverty alleviation efforts during the reporting year and has no subsequent plans[98]. Asset Management and Financial Position - The company's monetary funds increased to CNY 1,019,938,236.45, representing 15.87% of total assets, up from 11.96% the previous year[49]. - Accounts receivable increased to CNY 361,125,145.24, accounting for 5.62% of total assets, driven by increased sales in the pipeline manufacturing and natural gas business[51]. - Fixed assets rose to CNY 1,465,879,046.08, which is 22.81% of total assets, due to acquisitions and investments in natural gas infrastructure[51]. - The company reported a change in accounting policies due to the implementation of new financial reporting formats, affecting various financial statement items[84]. Internal Control and Audit - The internal control audit report confirmed that there were no major deficiencies in the company's internal controls[160]. - The internal control audit report issued by DaXin Accounting Firm confirmed the effectiveness of the financial reporting internal controls of Shandong Shengli Co., Ltd. as of December 31, 2018[162]. - The audit opinion issued was a standard unqualified opinion, indicating no significant deficiencies in financial reporting[166]. Future Outlook - The company plans to continue its development strategy combining internal growth and external expansion, focusing on management efficiency and capital market leverage[67]. - The company aims to achieve a gross margin of 30% in the upcoming fiscal year, up from 28% in 2018[64]. - The company is exploring new strategies for market expansion and product development in response to industry trends[100].

2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司董事长王鹏先生、主管会计工作负责人李守清女士及会计机构负责人(会计主管人员) 申萌女士声明：保证季度报告中财务报表的真实、准确、完整。 第二节 公司基本情况 山东胜利股份有限公司 2018 年第三季度报告正文 一、主要会计数据和财务指标 证券代码：000407 证券简称：胜利股份 公告编号：2018-058 号 山东胜利股份有限公司 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末 | | --- | --- | --- | --- | --- | | | | | | 增减（%） | | 总资产（元） | 6,244,446,776.65 | | 5,045,105,272.69 | 23.77 | | 归属于上市公司股东的净资 产（元） | 2,265,374,949.07 | | 2,174,683,042.25 | 4.17 | | | 本报告 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 2,131,502,882.19, representing a 29.36% increase compared to CNY 1,647,726,842.37 in the same period last year[10]. - The net profit attributable to shareholders was CNY 72,004,998.31, a 69.20% increase from CNY 42,557,049.97 year-on-year[10]. - The net profit after deducting non-recurring gains and losses was CNY 64,564,159.05, up 45.00% from CNY 44,526,529.75 in the previous year[10]. - The company reported a basic earnings per share of CNY 0.08, a 60.00% increase from CNY 0.05 in the same period last year[10]. - The company achieved operating revenue of CNY 2.13 billion, a year-on-year increase of 29.36%[25]. - Net profit attributable to the parent company reached CNY 72.00 million, reflecting a significant growth of 69.20% compared to the previous year[26]. - The gross profit margin for the first half of 2018 was approximately 17.1%, compared to 13.0% in the same period last year[113]. - The company's financial expenses rose to RMB 44,531,299.09, a significant increase of 121.9% from RMB 20,145,085.32 in the previous year[113]. - The operating profit for the first half of 2018 was RMB 103,145,222.59, compared to RMB 62,442,846.43 in the same period last year, indicating a growth of approximately 65%[114]. Assets and Liabilities - The company's total assets increased by 17.83% to CNY 5,944,683,266.98 from CNY 5,045,105,272.69 at the end of the previous year[10]. - Total liabilities increased to CNY 3,221,601,549.94 as of June 30, 2018, up from CNY 2,346,639,055.18 at the beginning of the year, representing a growth of approximately 37.2%[110]. - Current liabilities totaled CNY 2,650,726,904.76, an increase of 31.4% from CNY 2,016,304,992.75 at the start of the year[110]. - The company's total equity reached CNY 2,723,081,717.04, slightly up from CNY 2,698,466,217.51, indicating a growth of about 0.9%[110]. - The company's goodwill increased substantially to RMB 1,230,441,212.44 from RMB 768,028,461.91, marking a growth of approximately 60.2%[109]. Cash Flow - The net cash flow from operating activities decreased by 81.10% to CNY 12,413,107.14 from CNY 65,670,208.46 in the previous year[10]. - Cash flow from operating activities generated a net amount of RMB 12,413,107.14, a decrease from RMB 65,670,208.46 in the previous year[115]. - The total cash inflow from investing activities was RMB 6,512,422.22, while cash outflow was RMB 441,145,677.31, resulting in a net cash flow of -RMB 434,633,255.09[115]. - The cash and cash equivalents at the end of the period were RMB 406,319,408.87, an increase from RMB 291,323,288.74 at the end of the previous year[115]. Business Operations - The company is engaged in promoting and applying clean energy natural gas services across various sectors, contributing to national environmental goals[16]. - The natural gas business revenue increased by 35.31% year-on-year, driven by continuous expansion and optimization of business structure[27]. - The number of natural gas users has grown to over 700,000, focusing on urban and commercial clients[21]. - The company plans to enhance management innovation and operational efficiency through collaborative efforts among its subsidiaries[23]. - The company plans to expand its natural gas business and pipeline manufacturing capabilities to enhance revenue growth[31]. Strategic Initiatives - The company plans to continue leveraging opportunities in the clean energy market driven by national policies and market growth[18]. - The company aims to accelerate the development of value-added and new energy businesses in the second half of the year[23]. - The company is committed to maintaining a "cash is king" strategy to improve revenue quality and control risks amid external financial pressures[23]. - The company is focusing on innovation and integrated development of upstream and downstream businesses to enhance competitiveness[52]. Acquisitions and Investments - The acquisition of Chongqing Shengbang Gas Co., Ltd. has significantly impacted the company's fixed assets and goodwill[17]. - The company acquired 100% equity of Chongqing Shengbang Gas Co., Ltd. for a total price of RMB 663.8 million, to be paid in installments over 5 years[44]. - The company reported a net profit of RMB 3,395.48 million from the acquisition of Chongqing Shengbang Gas Co., Ltd.[49]. - The company’s subsidiary, Shandong Huasheng Energy Co., Ltd., reported a net loss of RMB 9.45 million during the reporting period[48]. Shareholder Information - The company reported a total share count of 880,084,656, with 737,621,624 shares being unrestricted, representing 83.81% of total shares[88]. - The number of restricted shares decreased by 8,010,479, bringing the total restricted shares down to 134,452,553, which is 15.28% of total shares[88]. - The company has not implemented any stock incentive plans or employee stock ownership plans during the reporting period[65]. - The total number of ordinary shareholders as of June 30, 2018, is 45,733[94]. Compliance and Governance - The company is committed to ensuring compliance with stock trading regulations by its directors and major shareholders[78]. - The company continues to operate under the accounting principles set forth by the Ministry of Finance, ensuring compliance with the relevant accounting standards[134]. - The financial statements reflect the company's ability to continue as a going concern for at least the next 12 months[132]. - The company has not reported any significant changes in accounting policies or prior period error corrections during the current reporting period[131].

Financial Performance - The company's operating revenue for Q1 2018 was ¥1,044,564,216.85, representing a 36.15% increase compared to ¥767,227,291.53 in the same period last year[5] - The net profit attributable to shareholders was ¥32,959,546.11, up 36.10% from ¥24,216,955.57 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥32,608,301.55, reflecting a 31.55% increase from ¥24,788,436.15 in the previous year[5] - The basic earnings per share increased to ¥0.04, a rise of 33.33% compared to ¥0.03 in the same period last year[5] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,874,233,086.23, marking a 16.43% increase from ¥5,045,105,272.69 at the end of the previous year[6] - The ending balance of accounts payable increased, primarily due to an increase in accepted bills[6] - The ending balance of inventory increased compared to the beginning of the period, attributed to the rise in raw materials and inventory for natural gas pipeline manufacturing[3] - The ending balance of goodwill increased due to the premium acquisition of Chongqing Shengbang Gas Co., Ltd.[5] Cash Flow - The net cash flow from operating activities was negative at -¥87,198,612.03, a significant decrease from ¥14,800,618.16 in the same period last year, representing a decline of 689.16%[5] - Cash flow from operating activities decreased compared to the previous period, mainly due to a significant increase in cash payments for goods and services[18] Shareholder Information - The company reported a total of 45,623 common shareholders at the end of the reporting period[10] - The top shareholder, Guangzhou Runkaisheng Investment Co., Ltd., held 9.33% of the shares, amounting to 82,075,945 shares, with a significant portion pledged[10] - The company did not engage in any repurchase transactions during the reporting period[11] Business Operations - The net profit attributable to the parent company increased compared to the same period last year, mainly due to the growth in natural gas business revenue[15] - Operating income increased year-on-year, primarily driven by the expansion of the natural gas business[9] - The company reported an increase in sales expenses due to the rise in transportation and labor costs associated with the growth of the natural gas business[11] Financial Management - Financial expenses increased year-on-year due to a rise in borrowings[12] - Investment income decreased compared to the previous year, as there were no significant investment gains this period[14] Future Plans - The company is planning a non-public stock issuance to fund projects such as "Village Access" and "Smart Gas System" to accelerate the development of its natural gas business[16]

Financial Performance - The company's operating revenue for 2017 was CNY 3,827,958,840.94, representing a 44.46% increase compared to CNY 2,649,794,927.14 in 2016[13]. - The net profit attributable to shareholders was CNY 62,302,459.69, a significant turnaround from a loss of CNY 292,688,463.91 in the previous year, marking a 121.29% increase[13]. - The net profit after deducting non-recurring gains and losses was CNY 49,213,394.71, up 114.16% from a loss of CNY 347,525,481.07 in 2016[13]. - Cash flow from operating activities increased by 295.36% to CNY 202,159,050.48, compared to CNY 51,133,175.59 in 2016[13]. - Basic earnings per share rose to CNY 0.07 from a loss of CNY 0.35 in the previous year, reflecting a 120.00% improvement[13]. - The total investment income increased by 151.56% to CNY 236,391,056.50 from CNY 93,971,105.07 in the previous year[42]. - The net profit for 2017 was CNY 122,703,196.56, a significant turnaround from a net loss of CNY 325,191,718.75 in 2016, marking a 137.73% increase[42]. Business Strategy and Development - The company has undergone a strategic shift towards clean energy, moving from a diversified business model to a more specialized focus[11]. - The company is actively expanding into the renewable energy sector, with successful initial projects in distributed energy and innovative charging station business models[25]. - The company plans to focus on natural gas urban operating rights and leverage capital markets for external development in 2018[71]. - The company aims to establish a funding supply plan aligned with its development, utilizing both self-funding and various financing channels[72]. - The company is committed to integrating upstream and downstream operations to mitigate risks and enhance business quality[72]. Natural Gas Business - In 2017, the company achieved operating revenue of CNY 3.828 billion, a 96.26% increase in natural gas business revenue compared to the previous year[19]. - The company's natural gas business achieved an annual revenue of 2.568 billion yuan, representing a year-on-year growth of 96.26%[29]. - The natural gas business accounted for 67.09% of total revenue, up from 49.39% in the previous year[29]. - The company completed the construction of 896 villages and connected 160,000 households under the "Gas Replacing Coal" initiative during the reporting period[20]. - The LNG trade brand "Victory" has shown significant growth, contributing to the overall improvement in asset quality and efficiency in the natural gas sector[20]. Investments and Acquisitions - The company successfully acquired several natural gas projects, including partnerships with Wenzhou Victory Port Yao Natural Gas Co., Ltd. and others, enhancing its acquisition capabilities[19]. - The company made significant investments in fixed assets due to the expansion of natural gas pipeline manufacturing and the increase in natural gas network fixed assets[21]. - The company completed a major acquisition of a natural gas company for ¥103,000,000, obtaining a 100% ownership stake[60]. - The company acquired 55% equity of Wenzhou Shengli Port Yao Natural Gas Co., with a transaction price not exceeding RMB 170 million based on future net profit assessments[61]. Financial Position and Assets - Total assets at the end of 2017 were CNY 5,045,105,272.69, a 17.26% increase from CNY 4,302,560,924.07 at the end of 2016[13]. - The company's goodwill increased by 2.13 percentage points to 15.22% of total assets, primarily due to premium acquisitions of natural gas companies[52]. - The total cash inflow from financing activities was CNY 1,041,971,892.50, a decrease of 34.03% compared to the previous year[46]. - The company’s liabilities included a significant increase in accounts payable, which rose by 1.31 percentage points to 9.39% of total assets, attributed to the purchase of raw materials on credit[52]. Corporate Governance and Compliance - The company has established a complete and independent organizational structure for corporate governance[84]. - The company maintains independent financial operations, including a separate financial department and accounting system[84]. - The company has established clear internal control systems for the classification, measurement, and impairment of financial assets[57]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[83]. Risks and Challenges - The company has highlighted potential risks in its future development outlook, which are detailed in the report[6]. - The company anticipates risks from economic fluctuations affecting natural gas consumption and competition from LNG processing, leading to low capacity utilization[72]. - The company reported a low capacity utilization rate at its LNG processing plant due to intense market competition and reduced profit margins[70]. Shareholder Relations and Dividends - The company plans to retain undistributed profits for the development of its natural gas business, considering the need for significant capital investment in future acquisitions and self-built projects[81]. - The company did not distribute any cash dividends in 2017, 2016, and 2015, with the cash dividend amount for 2015 being CNY 17,601,693.12, which accounted for 61.25% of the net profit attributable to shareholders[80]. - The company has revised its cash dividend policy to enhance transparency and protect investors' rights, aligning with regulatory requirements[76]. Employee and Management Structure - The total number of employees in the company is 1,481, with 97 in the parent company and 1,384 in major subsidiaries[165]. - The management team includes experienced professionals with backgrounds in finance and engineering, which supports the company's strategic initiatives[154]. - The total compensation for the chairman is 184.62 million, while the total compensation for the CEO during the reporting period was 91.38 million[164]. Market Outlook and Future Projections - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for the next fiscal year, indicating a projected growth of 25%[161]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[161]. - The company is focusing on sustainability initiatives, with a target to reduce operational costs by 5% through energy-efficient technologies[117].

Financial Performance - Total assets at the end of the reporting period reached ¥5,005,190,079.61, an increase of 16.33% compared to the end of the previous year[5] - Operating revenue for the third quarter was ¥853,611,989.53, representing a year-on-year increase of 49.57%[5] - Net profit attributable to shareholders was ¥37,897,621.66, a significant increase of 3,569.83% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥37,083,442.27, up 25,209.41% year-on-year[5] - Basic earnings per share for the quarter were ¥0.043, an increase of 4,200% compared to the same period last year[6] - The weighted average return on equity was 1.74%, an increase of 1.70 percentage points from the previous year[6] - Cash flow from operating activities for the year-to-date period was ¥100,420,527.21, reflecting a year-on-year increase of 494.35%[5] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,489[10] - The top shareholder, Guangzhou Runkaisheng Investment Co., Ltd., held 9.33% of the shares, amounting to 82,075,945 shares[10] Business Operations - The company's operating revenue increased by 94.41% year-on-year in the natural gas business, and the revenue from the natural gas pipeline manufacturing business increased by 92.05% year-on-year[16] - The net profit attributable to shareholders of the listed company increased significantly due to the growth in existing natural gas business revenue and the consolidation of newly acquired natural gas companies[23] - Cash flow from operating activities increased due to higher net cash flow generated from natural gas and pipeline manufacturing operations[24] Investments and Acquisitions - The company completed the transfer of equity in Shandong Shengbang Green Wild Chemical Co., resulting in a gain of RMB 215 million recorded as investment income[17] - The company is actively participating in the bankruptcy reorganization of Chongqing Huayuan Natural Gas Co., with agreements signed to confirm its role as an investor[20] - The goodwill increased as a result of the acquisition of Wenzhou Shengli Port Yao Natural Gas Co. and other natural gas companies[14] Financial Position - The company’s total liabilities increased as part of the financing activities, primarily due to an increase in loans compared to the previous year[20] - The balance of accounts receivable increased due to the adoption of bill settlements during the reporting period[14] - The balance of prepayments increased due to the rise in oil and gas procurement payments by subsidiaries[14] - The company’s cash flow from investing activities decreased due to payments for equity transfers and increased capital expenditures on fixed assets[25] Share Lock-up and Compensation Commitments - The company committed to a share lock-up period of 36 months for 55% of the shares issued in the asset restructuring, with additional lock-up periods of 24 months for 30% and 12 months for 15%[22] - The net profit commitments for Qingdao Runhao from 2014 to 2016 are set at 891.58 million, 1,148.50 million, and 1,294.98 million yuan respectively[23] - The company will receive dual compensation in cash and shares if the net profit of the target company falls below the promised figures during the compensation period[23] - The company’s investment income from holding 49% of Kunlun Utilization is expected to contribute a minimum of 1,048.34 million yuan to the net profit commitments from 2014 to 2016[23] - The company has outlined specific performance compensation obligations for its shareholders in case of underperformance against net profit commitments[23] - The compensation obligation for performance commitments will first be fulfilled with shares held by the compensator, and any shortfall will be compensated in cash within the limits set[24] - The number of shares to be compensated each year is calculated based on the difference between cumulative promised net profit and actual net profit, divided by the total promised net profit for the compensation period[24] - The upper limit for share compensation is the total number of shares obtained by the compensator in the transaction, with cash compensation required if the shares held are insufficient[25] Regulatory Compliance and Transparency - The company is committed to transparency in its financial reporting and performance obligations to its stakeholders[23] - The company’s financial strategies include a focus on maintaining compliance with regulatory requirements during the share lock-up periods[22] - The company has confirmed that all commitments have been fulfilled on time[27] Risk Management - There is a warning regarding the potential for significant fluctuations in cumulative net profit compared to the previous year, but this does not apply for the current reporting period[28] - The compensation for asset impairment will be assessed by a qualified accounting firm at the end of the compensation period[24] - If the calculated compensation amount is negative or zero, no additional compensation is required, and previously compensated shares will not be reversed[24] Corporate Governance - The company has not engaged in any securities investments during the reporting period[28] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[33] - The company has not conducted any poverty alleviation work in the third quarter and has no subsequent plans for such initiatives[34] - The company received numerous inquiries from public investors regarding its operational status, responding in accordance with investor relations regulations[31] - The company has not engaged in any external guarantees during the reporting period[35]

山 东 胜 利 股 份 有 限 公 司 S H A N D O N G S H E N G L I C O . ， L T D . 半年度报告 | | | | 第一节 | 重要提示、释义 3 | | --- | --- | | 第二节 | 公司简介和主要财务指标 3 | | 第三节 | 公司业务概要 7 | | 第四节 | 经营情况讨论与分析 8 | | 第五节 | 重要事项 21 | | 第六节 | 股份变动及股东情况 37 | | 第七节 | 优先股相关情况 44 | | 第八节 | 董事、监事、高级管理人员情况 45 | | 第九节 | 公司债相关情况 46 | | 第十节 | 财务报告 46 | | 第十一节 | 备查文件目录 120 | 山东胜利股份有限公司 2017 年半年度报告全文 山东胜利股份有限公司 2017 年半年度报告 第一节 重要提示、释义 2017 重要提示：公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责 任。 公司董事长王鹏先生、主管会计工作负责人李守清女士及会计机构负责人(会计主管 ...

Financial Performance - The company's operating revenue for Q1 2017 was ¥767,227,291.53, representing a 27.67% increase compared to ¥600,950,334.00 in the same period last year[4] - Net profit attributable to shareholders decreased by 54.62% to ¥24,216,955.57 from ¥53,369,122.35 year-on-year[4] - The basic earnings per share fell by 50.00% to ¥0.03, down from ¥0.06 in the previous year[4] - The weighted average return on equity decreased by 1.79 percentage points to 1.14% compared to 2.93% in the previous year[4] - The company reported a significant increase in revenue for Q1 2017, reaching approximately 1.5 billion RMB, representing a year-over-year growth of 15%[22] - The company’s net profit attributable to the parent decreased due to the absence of significant transfer gains, which were 55.27 million yuan in the same period last year[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,221,500,479.05, a decrease of 1.88% from ¥4,302,560,924.07 at the end of the previous year[5] - Net assets attributable to shareholders increased by 1.08% to ¥2,140,126,363.20 from ¥2,117,274,077.89 at the end of the previous year[5] - The company reported an increase in investment income due to the equity transfer price exceeding the net asset share at the time of transfer[15] - The company’s asset impairment losses increased due to the transfer of equity and the related bad debt provisions[14] Shareholder Information - The total number of common shareholders at the end of the reporting period was 47,949[9] - The largest shareholder, Shandong Victory Investment Co., Ltd., held 15.40% of shares, totaling 135,535,082 shares[9] - The company’s major shareholder transferred 61,925,497 shares, reducing their stake from 15.40% to 8.36%, with the new controlling party being Mr. Lai Ganfeng[17][19] - The company did not engage in any repurchase agreements during the reporting period[10] Cash Flow and Expenses - The net cash flow from operating activities increased due to higher sales revenue and a reduction in accounts receivable[16] - The financial expenses decreased compared to the same period last year due to a reduction in short-term borrowings[14] - The company’s cash flow from investing activities decreased due to increased payments for equity transfers and the absence of significant cash recovery from equity transfers this period[16] - The company’s tax and additional fees increased year-on-year due to changes in accounting policies regarding tax classifications[14] Future Outlook and Strategy - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12% based on current market trends[22] - New product launches are expected to contribute an additional 200 million RMB in revenue over the next two quarters[22] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2018[22] - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and increase market penetration[22] - The company is investing 100 million RMB in R&D for new technologies aimed at improving operational efficiency[22] - The management emphasized the importance of maintaining strong relationships with key stakeholders to support future growth initiatives[22] Commitments and Compensation - The company committed to a net profit of no less than 89.158 million CNY for Qingdao Runhao from 2014 to 2016[23] - The promised net profit for Dongtai Gas from 2014 to 2016 is set at 182.231 million CNY, 239.290 million CNY, and 271.014 million CNY respectively[23] - The company will receive dual compensation in cash and shares if the actual net profit falls below the promised figures during the compensation period[24] - The compensation obligation includes cash payments if the net profit is lower than the promised amount, to be paid within 10 working days after the annual audit report[24] - The total promised net profit for Dongtai Compression from 2014 to 2016 is 54.466 million CNY, 61.469 million CNY, and 68.866 million CNY respectively[23] - The company will conduct impairment testing on the target company at the end of the compensation period[24] - The compensation shares will not exceed the total number of subscribed shares[24] - The company has established a performance commitment for the net profit of 1,162.65 million CNY and 1,232.69 million CNY for the years 2015 and 2016 respectively[23] - The compensation obligations are shared among the parties based on their shareholding ratios prior to the transaction[24] - The company will issue shares to compensate for any shortfall in promised net profits, with cash compensation applicable if share compensation is insufficient[24] Compliance and Governance - The company has committed to resolving any existing competition issues within three years by injecting assets into the company or selling them to unrelated third parties[26] - The company has not engaged in any securities or derivative investments during the reporting period[28] - The company has conducted an on-site investigation on February 15, 2017, where institutional investors inquired about the natural gas industry and the company's operations[28] - There is a warning regarding the potential for significant fluctuations in net profit for the first half of 2017 compared to the same period last year[27] - The company has made commitments to ensure the independence of its assets and operations from its controlling shareholders[26] - The company has not reported any stock incentive commitments applicable to small shareholders[27] - The company has confirmed that all commitments made have been fulfilled on time[27] - The company has established measures to prevent any direct or indirect competition with its business from its major shareholders[26] - The company received numerous inquiries from public investors regarding its operational status during the reporting period, responding in accordance with investor relations management regulations[30] - There were no instances of non-compliant external guarantees during the reporting period[31] - The company did not experience any non-operational fund occupation by controlling shareholders or their affiliates during the reporting period[32]

Financial Performance - The company's operating revenue for 2016 was approximately CNY 2.65 billion, an increase of 5.59% compared to CNY 2.51 billion in 2015[12]. - The net profit attributable to shareholders was a loss of approximately CNY 292.69 million, a decrease of 1,118.42% compared to a profit of CNY 28.74 million in 2015[12]. - The net cash flow from operating activities was approximately CNY 51.13 million, down 21.93% from CNY 65.49 million in 2015[12]. - The total assets at the end of 2016 were approximately CNY 4.30 billion, an increase of 3.64% from CNY 4.15 billion at the end of 2015[12]. - The net assets attributable to shareholders increased by 17.85% to approximately CNY 2.12 billion from CNY 1.80 billion in 2015[12]. - The basic earnings per share for 2016 was a loss of CNY 0.35, compared to a profit of CNY 0.04 in 2015, reflecting a decrease of 975%[12]. - The weighted average return on equity was -14.18%, a decline of 15.79 percentage points from 1.61% in 2015[12]. - The company reported a total profit for the year at -¥251,395,654.33, a decrease of 1033.78% compared to the previous year[42]. - Net profit attributable to shareholders was -¥292,688,463.91, down 1,118.42% year-on-year[42]. Strategic Focus and Business Transformation - The company has undergone a strategic shift towards clean energy, moving from a diversified business model to a more specialized focus[9]. - The company successfully exited the agricultural chemical industry, which was a major factor in improving profitability moving forward[25]. - The company made strategic exits from the agricultural chemical sector, marking a successful transformation of its business structure[26]. - The company is focusing on expanding its natural gas project portfolio through acquisitions, including partnerships with several gas companies[19]. - The company is implementing a three-year strategic development plan for its plastic pipe manufacturing sector, aiming to become a leading manufacturer in the industry[20]. Natural Gas Business Performance - The company's natural gas business achieved sales revenue of over CNY 1.3 billion in 2016, representing a growth of 82.74% compared to the previous year[19]. - The natural gas business accounted for 49.39% of total revenue, significantly increasing its share from 28.54% in the previous year[29]. - The gross margin for the natural gas business was 17.91%, a decrease of 2.98 percentage points compared to the previous year[31]. - The company focused on developing high-potential projects to lay a foundation for sustainable growth in the natural gas sector[26]. - The LNG trading business and the "village-to-village" initiative made significant progress during the reporting period[26]. Cash Flow and Investment Activities - The company's cash flow from operating activities showed fluctuations, with a net cash flow of CNY -90.14 million in Q1 and CNY 72.29 million in Q3[14]. - The net cash flow from investment activities increased significantly by 108.03% year-on-year, mainly due to cash received from the disposal of equity interests in Shandong Luyu Trading Co., Ltd. and Shandong Lihua Sheng Automobile Sales Service Co., Ltd.[47]. - The net cash flow from financing activities decreased by 156.29% year-on-year, attributed to an increase in repayments of short-term and long-term borrowings[48]. - The company successfully raised 650 million yuan through a targeted issuance, which supported rapid development and reduced the debt ratio[26]. Shareholder Returns and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[7]. - The independent directors supported the 2016 decision not to distribute dividends, emphasizing the need for funds during the company's transformation and rapid development in the natural gas sector[97]. - The cash dividend payout ratio for 2015 was 61.25% of the net profit attributable to ordinary shareholders[99]. - The company did not distribute any cash dividends in 2014, maintaining a focus on retaining profits for business development[99]. Risk Management and Future Outlook - The company has detailed potential risks and countermeasures in its future development outlook section[6]. - The company faced risks from low prices of alternative fuels, economic slowdown affecting gas consumption growth, and intense market competition leading to low capacity utilization in LNG processing plants[90]. - The company is committed to enhancing the operational quality of its natural gas assets, with a standardized safety operation system gradually being established[26]. - The company plans to accelerate the development of natural gas operations, focusing on urban management rights and integrating the industrial chain for deeper business development in 2017[89]. Corporate Governance and Compliance - The company has established clear internal control systems regarding the classification, measurement, and impairment of financial assets[58]. - The independent directors actively participated in training to enhance their ability to prevent major risks and protect the interests of all shareholders[200]. - The company maintained a strong focus on compliance with laws and regulations, ensuring the integrity of its operations[199]. - The independent directors played a crucial role in safeguarding the legal rights of the company and all shareholders[200]. Employee Management and Development - The total number of employees in the company is 1,609, with 846 in production, 206 in sales, 102 in technical roles, 96 in finance, and 359 in administration[189]. - The company emphasizes employee training and development, aiming to create a competitive workforce[191]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 741.30 million CNY, including performance-based bonuses for 2016[186]. Market Expansion and Acquisitions - The company is actively expanding its market presence through strategic partnerships, targeting a 20% increase in market share over the next two years[84]. - The company is in the process of acquiring stakes in Dalian Shengyi New Energy Development Co., Ltd. and Dalian Yimin New Energy Development Co., Ltd.[140]. - The company is planning to issue shares for asset acquisition and supporting financing[138]. - The company is committed to expanding its market through strategic acquisitions and partnerships[138].