Financial Performance - The company's revenue for Q1 2022 was ¥1,686,087,865.04, representing a 7.41% increase compared to ¥1,569,696,516.46 in the same period last year[4] - Net profit attributable to shareholders was ¥202,761,343.77, a decrease of 2.50% from ¥207,960,891.80 year-on-year[4] - Basic earnings per share decreased by 2.30% to ¥0.170 from ¥0.174 in the same period last year[6] - Operating profit for the quarter was ¥240,001,446.75, down 11.3% from ¥270,630,999.84 in the same period last year[35] - Net profit attributable to the parent company was ¥202,761,343.77, a decrease of 2.9% from ¥207,960,891.80 year-over-year[35] - The total comprehensive income for the quarter was ¥202,761,343.77, compared to ¥207,864,774.48 in the previous year, reflecting a slight decline[38] Cash Flow - The net cash flow from operating activities was ¥332,701,230.94, down 43.69% from ¥590,860,191.99 in the previous year[4] - Cash flow from operating activities amounted to ¥1,832,906,955.60, an increase from ¥1,697,373,685.14 in the prior year[41] - The net cash flow from investment activities was -¥35,474,251.89, a decline from ¥3,684,299.23 in the prior period[45] - The net cash flow from financing activities was -¥242,014,305.24, reflecting an increase in bank loan repayments[14] - Cash inflow from financing activities was 140,000,000.00, down from 360,219,010.41 in the previous period[45] - The ending balance of cash and cash equivalents was 754,395,624.49, slightly down from 771,805,759.15 in the previous period[45] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,923,754,213.54, a 0.66% increase from ¥7,871,596,875.12 at the end of the previous year[6] - Total liabilities decreased to ¥2,621,523,583.62 from ¥2,778,142,083.33, reflecting a reduction of approximately 5.6%[27] - The total current assets decreased slightly to ¥2,361,196,453.66 from ¥2,385,059,138.46 at the beginning of the year[21] - The company's fixed assets decreased to ¥2,195,881,353.59 from ¥2,253,456,577.48[24] - The total liabilities include accounts payable of ¥228,430,551.98, down from ¥287,081,438.19[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 101,206[15] - The largest shareholder, Zhangshu City and Tai'an Cheng Investment Management Center, holds 17.30% of shares, totaling 206,278,976 shares[15] Investment and Expenses - The company reported a significant increase in investment income, which rose by 1114% to ¥98,482,126.53 compared to ¥8,113,749.51 in the same period last year[11] - Research and development expenses were reported at ¥16,400,325.49, slightly lower than ¥17,022,035.23 in the previous year[35] - The company reported a decrease in tax expenses to ¥35,784,165.63 from ¥62,527,582.58, indicating a reduction of 42.8%[35] - The company experienced a 45% decrease in tax and additional fees, primarily due to a reduction in payable value-added tax[11]

Revenue and Profit - Revenue for Q3 2021 was ¥682,726,682.13, a decrease of 44.73% compared to the same period last year[5] - Net profit attributable to shareholders was ¥21,134,683.50, down 90.29% year-on-year[5] - Net profit excluding non-recurring items was ¥155,193,875.02, a decrease of 30.61% compared to the same period last year[5] - Basic earnings per share were ¥0.018, down 90.29% year-on-year[5] - Total operating revenue for the period reached ¥3,865,486,602.32, an increase of 9.85% compared to ¥3,518,761,747.98 in the previous period[32] - Net profit for the period was ¥526,111,272.05, representing a significant increase of 42.6% compared to ¥368,830,504.11 in the previous period[35] - Total comprehensive income for the period reached ¥527,118,326.04, an increase from ¥369,298,751.04 in the previous period, representing a growth of approximately 42.7%[38] - Basic and diluted earnings per share both increased to ¥0.441 from ¥0.309, reflecting a growth of 42.5%[38] Assets and Liabilities - Total assets increased by 2.47% to ¥7,313,265,218.41 compared to the end of the previous year[7] - The company's total assets increased to ¥7,313,265,218.41 from ¥7,136,977,155.72, reflecting a growth of approximately 2.48%[31] - Total liabilities decreased to ¥2,016,788,033.64 from ¥2,311,451,923.37, indicating a reduction of about 12.7%[31] - Shareholders' equity attributable to the parent company rose by 9.76% to ¥5,296,477,184.77[7] - The equity attributable to shareholders of the parent company rose to ¥5,296,477,184.77, up from ¥4,825,525,232.35, marking an increase of approximately 9.73%[31] Cash Flow - Cash flow from operating activities decreased by 50.64% to ¥448,658,291.46 year-to-date[5] - Net cash flow from operating activities was ¥448,658,291.46, down from ¥908,925,874.06, indicating a decrease of approximately 50.7%[41] - Cash inflow from operating activities totaled ¥4,322,574,098.28, compared to ¥4,035,342,245.41 in the previous period, marking an increase of about 7.1%[41] - Cash outflow from operating activities was ¥3,873,915,806.82, up from ¥3,126,416,371.35, which is an increase of approximately 23.9%[41] - Net cash flow from investing activities was ¥17,275,928.95, a significant improvement from a negative cash flow of ¥97,827,447.95 in the previous period[43] - Cash inflow from financing activities amounted to ¥1,401,019,271.20, compared to ¥569,912,666.61 in the previous period, representing an increase of approximately 146.2%[44] - Cash outflow from financing activities totaled ¥1,528,424,282.27, up from ¥1,353,155,940.85, indicating an increase of about 12.9%[44] - The ending cash and cash equivalents balance was ¥729,748,974.43, compared to ¥480,824,101.54 in the previous period, reflecting an increase of approximately 52.0%[44] Shareholder Information - The total number of common shareholders at the end of the reporting period is 100,469[16] - The largest shareholder, Zhangshu City and Tai'an Cheng Investment Management Center, holds 17.30% of shares, totaling 206,278,976 shares[16] - The second-largest shareholder, Ningbo Zhongman Technology Management Co., Ltd., holds 11.87% of shares, totaling 141,529,491 shares[16] Operational Challenges and Plans - The company reported a significant increase in government subsidies, with other income rising by 936.91% to ¥20,987,302.31[15] - The company experienced a 3526.90% increase in other expenses due to flood losses[15] - The company estimates a reduction of approximately 70,000 tons in aluminum product output due to significant flood damage in July 2021[22] - The company is progressing with its production recovery plan following the flood[22] - Future outlook includes plans for market expansion and potential new product development initiatives[31] Research and Development - Research and development expenses for the period were ¥341.01, significantly lower than ¥2,138.65 in the previous period[35] Audit and Reliability - The report for the third quarter was not audited, which may affect the reliability of the financial data presented[45]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,182,759,920.19, representing a 39.38% increase compared to CNY 2,283,541,672.75 in the same period last year[24]. - The net profit attributable to shareholders of the listed company reached CNY 504,976,588.55, a significant increase of 233.90% from CNY 151,235,534.19 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 534,468,406.53, up 362.75% from CNY 115,497,458.29 year-on-year[24]. - The net cash flow from operating activities was CNY 967,988,605.01, an increase of 28.29% compared to CNY 754,543,549.84 in the same period last year[24]. - The basic earnings per share were CNY 0.424, reflecting a 233.86% increase from CNY 0.127 in the previous year[24]. - The total profit for the first half of 2021 was CNY 655.93 million, up from CNY 197.24 million in the previous year, reflecting a growth of 232.5%[184]. - The total comprehensive income for the first half of 2021 was CNY 507.95 million, compared to CNY 154.01 million in the previous year, an increase of 229.5%[187]. Revenue and Sales - The company achieved operating revenue of 3,182.76 million CNY, a year-on-year increase of 39.38%[33]. - Revenue from aluminum liquid reached ¥2,008,140,227.86, marking a 35.91% increase year-on-year[43]. - The company's sales volume for the period was 187,000 tons, a slight decrease of 1.68% year-on-year[33]. - Sales in Henan Province accounted for 83.85% of total revenue, with a year-on-year increase of 25.39%[43]. Costs and Expenses - Operating costs increased to ¥2,456,449,133.63, a rise of 20.18% compared to the previous year, primarily driven by higher prices for raw materials such as prebaked anodes and coal[40]. - The gross profit margin for the electrolytic aluminum industry was 22.82%, with a year-on-year increase of 12.33%[43]. - The company's financial expenses decreased significantly to CNY 13.04 million from CNY 36.14 million, a reduction of 64.1%[184]. - Research and development investment decreased significantly by 88.77%, with no specific amount reported for the current period[40]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 7,546,661,899.07, a 5.74% increase from CNY 7,136,977,155.72 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 5,266,973,142.32, up 9.15% from CNY 4,825,525,232.35 at the end of the previous year[24]. - Total liabilities decreased to ¥2,279,688,756.75 from ¥2,311,451,923.37, a reduction of about 1.4%[163]. - Current liabilities totaled ¥1,893,985,045.40, down 17.1% from ¥2,284,045,692.91 in the previous year[175]. Environmental and Social Responsibility - The company emphasizes environmental protection, implementing ultra-low emissions standards ahead of industry norms[38]. - The company has implemented significant investments in environmental protection, leading to a substantial reduction in pollutant emissions[35]. - The company has established an environmental management system compliant with ISO14001:2004, enhancing its compliance with government regulations and reducing policy risks[64]. - The company donated 2 million RMB to support flood relief and reconstruction efforts in Henan Province following severe flooding in July 2021[83]. Risks and Challenges - The company has acknowledged potential risks in its future development as discussed in the management analysis section[3]. - The company faces market risks due to price fluctuations in raw materials and product sales, which are influenced by macroeconomic conditions[64]. - The company faced risks due to increased environmental protection costs following the implementation of new environmental laws and regulations, which may impact profitability[68]. - A significant flood in July 2021 caused damage to the company's facilities, leading to an estimated reduction of approximately 70,000 tons in aluminum product output for the year[68]. Investments and Future Plans - The company has invested in various sectors, including a 11.73% stake in China Rare Earth Holdings, enhancing its capital return potential[38]. - The company plans to increase research and development of new products and technologies to drive growth towards high-precision and high-end products[64]. - The company is in the process of launching a wool yarn textile project in Qin Zhuang village to strengthen the local economy[82]. - The company plans to sell approximately 80,880 tons of electrolytic aluminum and 4,200 tons of aluminum alloy rods to Wan Fang Group, with an estimated total transaction amount not exceeding 1,235.80 million RMB (including tax) for the year 2021[114].

焦作万方铝业股份有限公司关于 参加河南辖区上市公司 2021 年投资者网上集体接待日活动的公告 证券代码：000612 证券简称：焦作万方 公告编号：2021-037 焦作万方铝业股份有限公司关于 参加河南辖区上市公司 2021 年投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，焦作万方铝业股份有限公司（以下简称"公 司"）定于 2021 年 6 月 8 日（周二）16:00-17:20 参加在全景网举办的"真诚沟通 传递 价值"河南辖区上市公司 2021 年投资者网上集体接待日活动。本次活动将采用网络远 程的方式举行，投资者可登录"全景·路演天下"（http://rs.p5w.net）参与本次互动交 流。 出席本次网上集体接待日活动的人员有：公司副总经理兼财务总监郭杰斌先生、 副总经理兼董事会秘书王科芳女士及相关工作人员（如有特殊情况，参会人员将可能 进行调整）。主要就公司 2020 年年报、公司治理、发展战略、经营状况、融资计划、 投资者保护、可持续发展等投资者所关心的问题进行沟通交流。 欢迎 ...

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,569,696,516.46, representing a 56.94% increase compared to the same period last year[8]. - Net profit attributable to shareholders was ¥207,960,891.80, a significant increase of 147.45% year-on-year[8]. - The net profit after deducting non-recurring gains and losses reached ¥205,058,440.77, up 430.44% from the previous year[8]. - Basic earnings per share were ¥0.174, which is a 148.57% increase from ¥0.070 in the same quarter last year[8]. - Total revenue for the first quarter of 2021 reached CNY 1,569,696,516.46, a significant increase from CNY 1,000,216,690.75 in the same period last year, representing a growth of approximately 57%[70]. - The total comprehensive income for the current period was ¥207,864,774.48, compared to ¥82,930,867.42 in the previous period, marking an increase of around 150%[79]. - The operating profit for the current period was ¥270,630,999.84, compared to ¥103,426,594.96 in the previous period, which is an increase of approximately 161%[76]. Cash Flow - The net cash flow from operating activities was ¥590,860,191.99, reflecting an increase of 111.78% compared to the same period last year[8]. - The cash inflow from operating activities amounted to CNY 1,700,840,848.64, a significant increase from CNY 1,101,919,564.83 in the previous period, representing a growth of approximately 54.4%[87]. - The net cash flow from operating activities was CNY 591,620,024.19, compared to CNY 279,831,945.43 in the prior period, indicating an increase of about 111.7%[94]. - Cash inflow from financing activities totaled CNY 360,219,010.41, significantly higher than CNY 51,715,022.42 in the prior period, marking an increase of about 594.5%[93]. - The ending balance of cash and cash equivalents was CNY 771,805,759.15, up from CNY 599,720,379.27, representing an increase of about 28.7%[93]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥7,336,373,083.37, a 2.79% increase from the end of the previous year[8]. - The company's current assets reached CNY 1,809,612,413.71, up from CNY 1,535,329,980.53 at the end of 2020, indicating an increase of about 17.8%[52]. - Total liabilities decreased to CNY 2,297,731,322.42 from CNY 2,311,451,923.37, showing a slight decline of approximately 0.6%[58]. - The company's equity attributable to shareholders increased to CNY 5,038,641,760.95 from CNY 4,825,525,232.35, reflecting a growth of about 4.4%[61]. Operational Efficiency - The net cash flow from operating activities surged by 111.78% to CNY 590,860,191.99, indicating improved operational efficiency[21]. - Operating costs increased by 42.15% to CNY 1,276,943,215.11, primarily due to rising prices of prebaked anodes and coal, along with increased sales volume[21]. - The company reported a significant increase in income tax expenses, which rose by 231.16% to CNY 62,527,582.58, due to higher taxable income[21]. Shareholder Information - The top ten shareholders held a total of 72.18 million shares, representing 6.05% of the company's total shares[12]. - The company plans to raise CNY 758.16 million through a non-public offering of 21.6 million shares to its largest shareholder, which has been approved by the regulatory authority[22]. Investment Activities - The company reported an investment income of CNY 8,113,749.51, down from CNY 43,641,533.18 year-over-year[73]. - The company has engaged in derivative investments, with details provided in the financial report[35]. - The company reported a total initial investment amount in derivatives of 49,720.4 million, with a total purchase amount during the reporting period of 56,742.83 million and total sales amount of 81,855.68 million[36]. Risk Management - The company has implemented strict internal control measures to mitigate operational risks associated with derivatives trading[39]. - The company has established a risk management framework to address market, liquidity, credit, and legal risks in its derivatives investments[39]. Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[64].

Dividend Distribution - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares to all shareholders, based on a total of 1,192,199,394 shares[6]. - The company distributed cash dividends of 0.50 CNY per share for the year 2020, totaling 59,609,969.70 CNY, which represents 10.50% of the net profit attributable to shareholders[125][129]. - In 2019, the company distributed cash dividends of 0.1 CNY per share, totaling 11,921,993.94 CNY, which accounted for 11.18% of the net profit attributable to shareholders[125][129]. - The company’s total distributable profit for the year was 510,666,574.38 yuan[132]. - The cash dividend amount is compliant with the regulations, as it exceeds the minimum requirement of 10% of the distributable profit[132]. - The company is in a mature development stage and aims to maintain a minimum cash dividend ratio of 80% during profit distribution[132]. - No bonus shares or capital reserve transfers to increase share capital are planned for the year[132]. Business Operations - The company has maintained its main business in aluminum smelting and processing since its listing, with no changes in its core operations[21]. - The company is currently a publicly listed entity without a controlling shareholder or actual controller, with plans for a non-public stock issuance approved by the CSRC in November 2020[21]. - The company’s registered address is located in the southern side of Jiaoxin Road, Daiming Town, Ma Village District, Jiaozuo City, Henan Province, with a postal code of 454005[16]. - The company’s legal representative is Huo Bin, and the company is listed on the Shenzhen Stock Exchange under the stock code 000612[16]. - The company has appointed Asia Pacific (Group) CPA Firm as its accounting firm[22]. - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the integrity of the annual report[4]. - The company has outlined potential risks in its future development in the annual report, urging investors to pay attention to investment risks[5]. - The company’s website is http://www.jzwfal.com, providing additional information and updates[16]. - The company’s financial report is disclosed through designated media such as China Securities Journal and Securities Times[20]. Financial Performance - The company's operating revenue for 2020 was ¥4,744,064,718.26, a decrease of 0.36% compared to ¥4,761,183,623.18 in 2019[25]. - Net profit attributable to shareholders for 2020 was ¥567,900,048.71, a significant increase of 432.52% from a loss of ¥442,105,544.66 in 2018[25]. - The net profit after deducting non-recurring gains and losses was ¥572,700,295.82, up 440.77% from ¥-373,251,087.42 in 2018[25]. - Basic earnings per share for 2020 was ¥0.476, representing a 434.83% increase from ¥-0.371 in 2018[25]. - The weighted average return on equity increased to 12.41%, up 9.91 percentage points from 2.50% in 2019[25]. - Total assets at the end of 2020 were ¥7,136,977,155.72, an increase of 1.76% from ¥7,013,209,895.49 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were ¥4,825,525,232.35, an increase of 11.86% from ¥4,313,985,023.65 at the end of 2019[25]. - The company reported a net cash flow from operating activities of ¥828,427,755.59, a 13.93% increase from ¥727,165,738.46 in 2019[25]. Environmental Initiatives - The company has implemented environmental upgrades to achieve ultra-low emissions, significantly reducing total pollutant emissions[38]. - The company was recognized as a "B-class enterprise" for heavy pollution weather performance by the Ministry of Ecology and Environment, highlighting its commitment to environmental standards[48]. - The company has established an emergency response plan for environmental incidents, which was filed with the local environmental protection bureau in August 2020[197]. - The company adheres to ultra-low emission requirements for smoke emissions from its electrolytic and coal-fired power plants, maintaining leading indicators in the industry[198]. - The company has completed various environmental impact assessments and received approvals for multiple projects, including a 280KA aluminum electrolytic cell technology demonstration project[193]. - The company has a valid pollution discharge permit until December 19, 2025, ensuring compliance with environmental regulations[196]. - The company emphasizes clean and green production, continuously improving its environmental protection standards[198]. Strategic Initiatives - The company has established a comprehensive coal-electricity-aluminum integrated operation model to ensure stable supply and reduce production costs[38]. - The company maintains a coal-electric-aluminum integrated operation strategy, which helps mitigate price fluctuations in coal and prebaked anodes[44]. - The company plans to optimize its coal-electricity-aluminum processing integration strategy to enhance overall competitiveness[109]. - The company aims to complete the non-public stock issuance to transition into a listed enterprise with a controlling shareholder[114]. - The company will focus on improving internal management levels and enhancing energy-saving measures to ensure efficient operation of power generation units[114]. - The company intends to accelerate the construction of its information management platform to improve intelligent production levels[111]. - The company will actively cultivate new profit growth points along the aluminum industry chain[112]. Challenges and Risks - The company has faced challenges due to macroeconomic factors affecting the aluminum industry, which may impact product sales and pricing[118]. - The company is closely monitoring policies related to carbon neutrality and peak carbon emissions, which may present both opportunities and challenges for its operations[119]. - The company has implemented an environmental management system that complies with ISO14001:2004 standards, ensuring adherence to government regulations and reducing policy-related risks[117]. Related Party Transactions - The total expected related party transactions for 2020 is estimated at 1,251.72 million CNY (including tax) with actual transactions amounting to 887.13 million CNY, representing 70.87% of the expected amount[166]. - The actual related party transactions with WanFang Group for the year were impacted by COVID-19 and environmental production restrictions, leading to a decrease in demand[167]. - The company sold aluminum liquid and aluminum alloy rods to WanFang Group, with the aluminum liquid transaction amounting to 850.95 million CNY, accounting for 25.52% of similar transactions[166]. - The aluminum alloy rod sales amounted to 36.17 million CNY, representing 17.40% of similar transactions[166]. - The pricing for aluminum liquid was based on the "Yangtze River average weekly price" minus 170 CNY/ton[166]. - The pricing for aluminum alloy rods was based on the arithmetic average price of AL99.70 aluminum ingots on the order date's working week, plus a processing fee of 340 CNY/ton[166]. Social Responsibility - The company has actively participated in social responsibility initiatives, including poverty alleviation efforts in Qinzhuang Village, resulting in the elimination of poverty for 32 households by the end of 2020[186]. - The company invested 1.03 million CNY in infrastructure improvements in Qinzhuang Village, including sewage systems and clean energy projects[187].

Financial Performance - Net profit attributable to shareholders increased by 254.63% to ¥217,594,969.92 for the current period[9] - Basic earnings per share rose by 258.82% to ¥0.183[9] - Net profit after deducting non-recurring gains and losses increased by 328.69% to ¥223,646,485.57[9] - The company reported a significant increase in net investment income from joint ventures and associates, rising to CNY 31,265,408.05 from CNY 12,832,663.50, which is an increase of approximately 143.5%[78] - The company has shown a strong recovery in profitability, with a profit margin improvement reflected in the net profit margin increasing from 5.1% to 17.7%[78] - The net profit attributable to the parent company was approximately ¥368.83 million, compared to ¥27.04 million in the previous period, indicating a significant increase[86] - The total comprehensive income attributable to the parent company reached approximately ¥369.30 million, up from ¥35.55 million year-over-year[86] Revenue and Costs - Operating revenue for the current period was ¥1,235,220,075.23, a slight increase of 0.15%[9] - Total operating costs decreased to ¥1,010,346,657.29 from ¥1,192,196,644.53, with operating costs specifically dropping from ¥1,133,470,547.30 to ¥967,137,857.53[69] - The operating cost decreased significantly to CNY 967,137,857.53 from CNY 1,133,470,547.30, representing a reduction of about 14.7%[75] - The company reported a 68.32% increase in sales expenses to CNY 7,890,812.45, mainly due to higher product shipping costs[27] Assets and Liabilities - Total assets increased by 2.51% to ¥7,188,959,271.24 compared to the end of the previous year[9] - Total liabilities were CNY 2,514,810,078.45, down from CNY 2,699,224,871.84, indicating a decrease of approximately 6.8%[56] - The company's equity attributable to shareholders rose to CNY 4,674,149,192.79 from CNY 4,313,985,023.65, an increase of about 8.4%[58] - Total liabilities decreased to ¥2,514,645,693.85 from ¥2,698,950,758.47[64] - The total assets and owner's equity combined reached approximately CNY 7.02 billion[123] Cash Flow - Cash flow from operating activities decreased by 70.68% to ¥154,382,324.22[9] - Operating cash flow net amount rose by 63.97% to CNY 908,925,874.06 from CNY 554,333,632.55, primarily due to increased bank acceptance bill payments[28] - The net cash flow from operating activities was 907,807,448.39, an increase from 558,339,575.80 in the previous period, reflecting a growth of approximately 62.5%[103] - The total cash inflow from operating activities was 4,035,321,370.25, slightly down from 4,075,209,040.33 in the previous period, reflecting a decrease of about 1.0%[103] Shareholder Information - The company reported a total of 85,404 shareholders at the end of the reporting period[12] - The top ten shareholders held a combined 56.30% of the company's shares[12] Government Support and Subsidies - The company received government subsidies amounting to ¥919,296.87 during the reporting period[11] Investment Activities - Investment income surged by 224.28% to CNY 93,040,446.16 from CNY 28,691,739.78, driven by higher profits from joint ventures and futures hedging[27] - The company reported a derivative investment amount of 62,789,000 CNY, with a total realized profit of 4,462,340 CNY during the reporting period[37] Risk Management - The company has implemented risk control measures for market, liquidity, credit, operational, and legal risks associated with derivative investments[40] Future Outlook - The company plans to change to a controlled enterprise and is considering a non-public stock issuance to support future business development[29] - The company anticipates no significant changes in net profit compared to the previous year[43] Research and Development - Research and development expenses were CNY 113.66, a notable decrease from CNY 5,506.56 in the previous period, showing a reduction of approximately 98%[75]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,283,541,672.75, representing a decrease of 1.66% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 151,235,534.19, a decline from a loss of CNY 34,318,941.13 in the previous year[23]. - The net cash flow from operating activities increased significantly to CNY 754,543,549.84, a rise of 2,608.23% compared to the same period last year[23]. - The basic earnings per share for the reporting period was CNY 0.127, compared to a loss of CNY 0.029 in the previous year[23]. - Total assets at the end of the reporting period were CNY 7,241,232,577.14, an increase of 3.25% from the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were CNY 4,461,480,098.02, reflecting a growth of 3.42% compared to the previous year[23]. - The company achieved operating revenue of CNY 2,283,541,672.75, a decrease of 1.66% compared to the previous year[49]. - The net profit attributable to shareholders was CNY 15,124,000, marking a turnaround from a loss in the previous period[47]. - The company’s total profit amounted to CNY 19,548,000 during the reporting period[47]. Cash Flow and Assets - The company’s cash and cash equivalents increased by 58.19% compared to the end of last year, primarily due to profits, reduced inventory, and increased bill payments[39]. - Prepaid accounts increased by 97% compared to the end of last year, mainly due to an increase in prepaid raw material payments[39]. - The company reported a net increase in cash and cash equivalents of ¥169,715,739.35, representing a 345.59% increase from ¥38,088,197.45 in the previous period[51]. - The company's current assets reached CNY 1,597,860,703.87, up from CNY 1,237,406,101.07, indicating a significant increase of about 29.19%[183]. - Cash and cash equivalents were reported at CNY 1,164,712,662.74, compared to CNY 736,289,036.42 in the previous year, reflecting a growth of approximately 58.06%[183]. - Total liabilities increased to CNY 2,779,752,479.12 from CNY 2,699,224,871.84, marking an increase of about 2.97%[190]. - The company's equity attributable to shareholders rose to CNY 4,461,480,098.02, up from CNY 4,313,985,023.65, which is an increase of approximately 3.43%[190]. Production and Operations - The company’s annual electrolytic aluminum production capacity is 420,000 tons, making it a key player in the aluminum industry in Henan Province[35]. - The company has formed a coal-electricity-aluminum integrated operation model, which helps reduce production costs[34]. - The company has established long-term strategic partnerships with suppliers of key raw materials, ensuring stable supply and cost advantages[40]. - The gross profit margin for the electrolytic aluminum industry was 10.49%, a decrease of 10.58% compared to the previous year[54]. - Sales revenue from aluminum ingots increased by 61.54% to ¥487,923,249.67, while sales revenue from aluminum liquid decreased by 16.31% to ¥1,477,528,080.15[54]. Environmental and Social Responsibility - The company emphasizes environmental protection and has been recognized as a benchmark enterprise for environmental governance in the electrolytic aluminum sector[43]. - The company has implemented an environmental management system compliant with ISO standards, demonstrating its commitment to environmental protection[78]. - The company has achieved a pollution control facility operation rate of over 98%[127]. - The company has received multiple environmental impact assessment approvals for its projects from the National Environmental Protection Agency[128]. - The company donated 1 million yuan to the Henan Charity Association for COVID-19 prevention efforts[139]. - The company has established a volunteer service team during the COVID-19 pandemic to assist in community support[135]. Risk Management - The company has identified potential risks in its current and future development, which are discussed in the management analysis section[6]. - The company has established a comprehensive risk management strategy to mitigate market, liquidity, credit, operational, and legal risks associated with derivative investments[70]. - The company is facing policy risks due to new regulations in the aluminum industry, but has upgraded its production technology to comply with government standards[78]. - The company anticipates market risks related to the cyclical nature of the aluminum industry and fluctuating raw material prices, which could impact production costs[79]. - The company has engaged in hedging activities to manage price fluctuations of aluminum ingots and processed products[79]. Shareholder Information - The company plans to change its structure to have a controlling shareholder and is considering a private placement of shares[140]. - The stock was suspended from trading on May 27, 2020, and resumed on June 3, 2020, after the board approved the private placement[140]. - The company received acceptance from the China Securities Regulatory Commission for its application for a private placement of new shares on August 20, 2020[141]. - The total number of shares after the recent changes is 1,192,199,394, with 99.90% being unrestricted shares[149]. - The top shareholder, Zhangshu City Hetai Investment Management Center, holds 17.30% of the shares, which amounts to 206,278,976 shares[152]. - The company is committed to protecting the interests of all shareholders, especially minority shareholders, during the private placement process[140]. Corporate Governance - The actual controller of the company has committed to avoiding competition with the company and ensuring independence in operations, assets, and finances[89]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period, ensuring stability in governance[161]. - The management team, including the chairman and general manager, holds a total of 1,523,000 shares, reflecting their vested interest in the company's performance[172]. - The company has not disclosed any related party transactions among its top shareholders, suggesting a clear separation of interests[159].

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,000,216,690.75, a decrease of 15.92% compared to the same period last year[9]. - Net profit attributable to shareholders was ¥84,041,551.80, a significant increase from a loss of ¥69,686,048.99 in the previous year[9]. - Basic and diluted earnings per share were both ¥0.070, recovering from a loss of ¥0.058 in the same period last year[9]. - The net profit for the first quarter was CNY 84,041,551.80, compared to a net loss of CNY 69,686,048.99 in the previous period[66]. - Operating profit reached CNY 104,165,498.66, a substantial increase from an operating loss of CNY 94,555,244.27 in the previous year[72]. - Total comprehensive income amounted to CNY 83,669,771.12, compared to a total comprehensive loss of CNY 67,921,638.30 in the prior period[75]. Cash Flow - The net cash flow from operating activities reached ¥278,991,896.17, representing a substantial increase of 1,146.47% year-on-year[9]. - Cash flow from operating activities generated a net cash inflow of CNY 278,991,896.17, compared to a net cash inflow of CNY 22,382,479.17 in the same period last year[79]. - Cash inflow from financing activities totaled $51,715,022.42, while cash outflow was $244,157,630.10, resulting in a net cash flow from financing activities of -$192,442,607.68[84]. - The net cash flow from investing activities was $60,202,141.11, an increase of 51.9% compared to the previous period's $39,624,199.95[84]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,318,008,243.44, an increase of 4.35% from the end of the previous year[9]. - The company's total liabilities increased by 34.42% to ¥733,950,000.00 in accounts payable, reflecting an increase in issued payables[22]. - Total liabilities increased to ¥2,916,649,591.12 from ¥2,699,224,871.84, reflecting a growth of about 8.06%[50]. - Total equity rose to CNY 4,407,976,808.53 from CNY 4,319,864,276.16, indicating an increase of about 2%[58]. - The company's total current assets remained stable at $1,237,406,101.07 as of January 1, 2020[87]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,892[13]. - The top ten shareholders held a significant portion of shares, with the largest shareholder owning 17.30%[14]. - The company did not conduct any share repurchase transactions during the reporting period, holding 30,880,000 shares, which is 2.59% of total shares[18]. Investment and Income - Investment income increased by 176.66% to ¥43,641,533.18, attributed to gains from futures hedging activities[22]. - The company reported non-recurring gains and losses totaling ¥45,383,331.76 for the period[9]. - The company reported a profit of 5,249.02 million from derivative investments during the reporting period[32]. Tax and Expenses - The company reported a tax expense of ¥18,881,344.54, reflecting an increase in taxable income compared to the previous period[25]. - Financial expenses decreased to CNY 19,653,217.80 from CNY 24,563,798.15, a reduction of approximately 20%[63]. - Research and development expenses were CNY 1,911.31, slightly down from CNY 2,235.98 in the previous period[63]. Inventory and Receivables - Accounts receivable rose by 77.07% to ¥32,003,871.83, indicating an increase in uncollected sales revenue[22]. - Inventory levels rose to 525,864,544.53 from 427,218,315.22, indicating a significant increase in stock[44]. - The accounts receivable increased to 32,003,871.83 from 18,074,406.78, reflecting a rise in credit sales[44]. Accounting and Standards - The company executed a new revenue recognition standard, resulting in a reclassification of prepayments to contract liabilities[22]. - The company adjusted its financial statements for the first quarter of 2020 in accordance with new revenue and leasing standards[89]. - The company has implemented new revenue and leasing standards, affecting the recognition of contract liabilities[97].

Financial Performance - The company reported a total revenue of 1,192,199,394 CNY for the year 2019, with a cash dividend of 0.1 CNY per 10 shares distributed to shareholders[7]. - The company's operating revenue for 2019 was ¥4,761,183,623.18, a decrease of 3.01% compared to ¥4,908,824,941.55 in 2018[27]. - Net profit attributable to shareholders for 2019 was ¥106,643,086.76, a significant recovery from a loss of ¥442,105,544.66 in 2018[27]. - The net profit after deducting non-recurring gains and losses was ¥105,905,461.21, compared to a loss of ¥373,251,087.42 in the previous year[27]. - Basic earnings per share for 2019 were ¥0.089, a turnaround from a loss of ¥0.371 per share in 2018[27]. - The total assets at the end of 2019 were ¥7,013,209,895.49, a decrease of 5.79% from ¥7,444,129,605.03 at the end of 2018[27]. - The company's weighted average return on equity was 2.50%, recovering from -9.92% in 2018[27]. - The company reported a gross margin of 5.36% for its main business of electrolytic aluminum and aluminum products, down from the previous year's margin[58]. - The company reported a cash dividend of 0.1 yuan per share for 2019, totaling 11,921,993.94 yuan, which represents 11.18% of the net profit attributable to shareholders[106]. Operational Highlights - The company has maintained its main business in aluminum smelting and processing since its listing, with no changes in its core operations[24]. - The company maintained an annual electrolytic aluminum production capacity of 420,000 tons, positioning itself as a key player in the aluminum industry in Henan Province[41]. - The company has established a coal-electricity-aluminum integrated operation model to reduce production costs and enhance risk resistance[40]. - The company achieved an operating revenue of CNY 4,761,183,623.18, a decrease of 3.01% compared to the previous year[57]. - The company reduced its operating costs significantly, with major raw material prices, such as prebaked anodes and alumina, decreasing year-on-year[52]. Risk Management - The company has faced potential risks in its current and future development, which investors are advised to consider[7]. - The company acknowledges market risks related to macroeconomic conditions and raw material price fluctuations, which could impact production costs[99]. - The company is facing policy risks due to new regulations in the aluminum industry, which may require compliance with stricter environmental standards[97]. - The company plans to enhance its financial management and expand financing channels to mitigate financial risks[95]. Environmental and Social Responsibility - The company is committed to continuous improvement in product quality and operational efficiency to support sustainable development[96]. - The company has implemented advanced pollution control measures, achieving over 95% efficiency in its environmental facilities[101]. - The company actively participates in social responsibility initiatives, including poverty alleviation efforts in Qinzhuang Village, which resulted in the village being removed from the provincial poverty list by the end of 2016[160]. - In 2019, the company invested 33.3 million CNY in building a cultural stage and 27 million CNY in road improvements in Qinzhuang Village[163]. - The company has achieved an advanced level of environmental protection with a pollution discharge rate of 95% for various pollutants from its facilities[170]. Corporate Governance - The company has established a sound corporate governance and internal control system to effectively prevent operational risks[159]. - The company has fulfilled its commitments regarding related party transactions and competition during the reporting period[113]. - The company has no controlling shareholder or actual controller as of 2013, indicating a shift in ownership structure[24]. - The company is committed to maintaining independence in operations, assets, and finances during the period when the actual controller is the largest shareholder[113]. Shareholder Information - The total number of shares for the dividend distribution is based on 1,192,199,394 shares as of December 31, 2019[109]. - The largest shareholder, Zhangshu City Hengtai Investment Management Center, holds 17.30% of the shares, totaling 206,278,976[191]. - The second-largest shareholder, Hangzhou Jintou Jinzong Investment Partnership, holds 16.41% of the shares, totaling 195,582,591[196]. - The company has 58,408 common stock shareholders at the end of the reporting period[191]. - The company has not engaged in any significant asset or equity sales during the reporting period[89]. Accounting and Audit - The company has appointed Asia Pacific (Group) CPA Firm as its accounting firm for the reporting period[25]. - The company has not made any retrospective adjustments or restatements to previous years' accounting data[26]. - There were no significant accounting errors requiring retrospective restatement during the reporting period[127]. - The domestic accounting firm, Asia Pacific (Group) CPA, has been retained for 6 consecutive years, with an audit fee of 700,000 RMB[129].