Financial Performance - Revenue for the first quarter was ¥1,086,897,216.25, a decrease of 22.76% compared to ¥1,407,211,068.84 in the same period last year[9] - Net profit attributable to shareholders was ¥1,705,664.48, down 92.39% from ¥22,421,428.85 year-on-year[9] - The company reported a significant decrease in operating profit by 101.17% to -¥2,335,680.00, attributed to a decline in product sales prices[16] - Investment income decreased by 101.16% to -¥682,930.00, primarily due to the transfer of equity investment in Gansu Liuhua[16] Cash Flow - The net cash flow from operating activities improved by 46.24%, reaching -¥82,944,201.63 compared to -¥154,286,214.20 in the previous year[9] - Cash flow from financing activities decreased by 792.14% to -¥10,363,390.00, mainly due to a reduction in borrowings[16] Assets and Shareholders - Total assets decreased by 4.29% to ¥4,616,327,949.75 from ¥4,823,125,632.54 at the end of the previous year[9] - The number of shareholders at the end of the reporting period was 68,742[12] - The first major shareholder, Chengdu Huachuan Petroleum and Natural Gas Exploration and Development, holds 12.18% of shares[12] Expenses - Sales expenses increased by 50.33% to ¥1,254,450,000 due to changes in marketing strategies[16]

Financial Performance - The company's operating revenue for 2013 was CNY 5,767,901,400.01, a decrease of 11.35% compared to CNY 6,506,585,658.57 in 2012[22] - The net profit attributable to shareholders for 2013 was CNY 170,254,547.02, down 43.57% from CNY 301,712,717.30 in the previous year[22] - The net profit after deducting non-recurring gains and losses was CNY 98,120,148.11, a decline of 70.08% compared to CNY 327,923,418.24 in 2012[22] - The net cash flow from operating activities was CNY 167,158,967.00, which is a 50.18% decrease from CNY 335,507,223.90 in 2012[22] - The basic earnings per share for 2013 was CNY 0.2984, down 50.32% from CNY 0.6006 in the previous year[22] - The company achieved an operating revenue of CNY 5,767.90 million and a net profit attributable to shareholders of CNY 170.25 million, representing a year-on-year decrease of 11.35% and 43.57%, respectively[32] - The company reported a total comprehensive income of CNY 169,180,688.11, down from CNY 267,312,925.56 in the previous year[166] - The company reported a net profit of ¥170,254,547.02 for the period, contributing to an increase in total equity attributable to shareholders[175] Assets and Liabilities - Total assets at the end of 2013 were CNY 4,823,125,632.54, an increase of 8.3% from CNY 4,453,685,618.08 at the end of 2012[22] - The total liabilities decreased to CNY 1,786,397,522.29 from CNY 2,171,868,094.81, a reduction of approximately 17.7%[162] - Shareholders' equity rose to CNY 3,036,728,110.25 from CNY 2,281,817,523.27, reflecting an increase of about 33%[162] - The company’s total assets increased, leading to a stronger financial position despite the decline in net cash flow from operations[175] Research and Development - The company has made significant breakthroughs in the research, production, and sales of nitrogen oxide reducing agents, establishing a production line with an annual capacity of 600,000 tons[34] - The company has received two national invention patents for nitrogen oxide reducing agents and participated in drafting the national standard for automotive urea[34] - The company achieved significant progress in new product development, including special urea, high-efficiency compound fertilizers, and LNG technologies[53] - The company’s total research and development expenditure was CNY 3,291,970.51, accounting for 0.11% of net assets and 0.06% of operating income[43] Market and Sales - The company’s revenue from the chemical fertilizer manufacturing industry was CNY 1,979,524,737.53 in 2013, down 6.38% from 2012[35] - The top five customers accounted for 36.43% of the total annual sales, with the largest customer contributing CNY 891,950,000, or 15.46% of total sales[35] - The company is actively pursuing international development opportunities and conducting feasibility studies for overseas markets[34] - The company plans to increase its domestic market share of nitrogen oxide reducing agents to over 20%[73] Investment and Financing - Investment cash inflows surged by 1,702.32% to CNY 553,874,349.56, mainly from the sale of long-term equity investments[46] - The company has a cash dividend policy that stipulates a minimum of 30% of the average distributable profit over three years to be distributed in cash, ensuring investor returns[79] - The company plans to distribute a cash dividend of 0.60 yuan per 10 shares for the 2013 fiscal year, based on a total share capital of 591,484,352 shares[80] - The company raised a total of CNY 65,000 million from the issuance of convertible bonds, with net proceeds of CNY 628,003,836.49 after deducting underwriting fees[101] Corporate Governance - The company has established a comprehensive internal control management system, including a risk management framework with 588 major risk points and 994 sub-risk points[132] - The board of directors consists of 7 members, including 3 independent directors, ensuring effective governance and decision-making[129] - The company has publicly disclosed its governance documents and compliance with regulatory requirements, ensuring transparency[130] - The company actively maintains the rights of minority shareholders and ensures fair treatment in related transactions[129] Environmental and Social Responsibility - The company emphasizes energy conservation and emission reduction, achieving significant progress in production efficiency and compliance with environmental standards[84] - The company plans to focus on the production and sales of clean energy, including liquefied natural gas (LNG), as a long-term strategic goal[67] - The company has established a joint venture with Messer Group to utilize carbon dioxide tail gas, aiming to enhance economic benefits while fulfilling social responsibilities[67] Future Outlook - The company plans to continue expanding its investment in new technologies and market expansion strategies to enhance future growth prospects[175] - The company has set a future outlook with a revenue target of 1.5 billion CNY for the next fiscal year, indicating a growth expectation of 25%[116] - The company aims to enhance its market competitiveness through product differentiation and optimization of product structure in response to increasing awareness of balanced fertilization among farmers[72]