Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,778,252,588.84, representing a 28.41% increase compared to the same period last year[24]. - The net profit attributable to shareholders was CNY 208,393,794.04, a significant increase of 413.33% year-on-year[24]. - The net cash flow from operating activities reached CNY 280,776,877.73, marking a 1,220.81% increase compared to the previous year[24]. - Basic earnings per share were CNY 0.3523, up 413.56% from CNY 0.0686 in the same period last year[24]. - The total assets at the end of the reporting period were CNY 3,984,392,289.21, a slight decrease of 0.49% from the end of the previous year[24]. - The net assets attributable to shareholders increased by 6.33% to CNY 3,057,434,547.91 compared to the end of the previous year[24]. - The weighted average return on net assets was 6.99%, an increase of 5.55% compared to the previous year[24]. - The company achieved a revenue of 1.778 billion yuan and a net profit of 208 million yuan during the reporting period[45]. - The company reported a total liability of ¥715,047,568.74, down from ¥774,555,157.51 in the previous year, indicating a decrease of 7.6%[163]. - The total equity increased to ¥2,863,223,965.49 from ¥2,829,266,194.36, reflecting a growth of 1.2% year-over-year[163]. Production and Sales - The company produced 20.83 million tons of urea and 16.30 million tons of compound fertilizer, with sales of 17.87 million tons of urea and 17.08 million tons of compound fertilizer during the reporting period[32]. - The demand for automotive urea is on a stable upward trend, with the company producing 11.48 million tons and selling 11.49 million tons of automotive urea[34]. - The company produced 2.67 million tons of melamine and sold the same amount, while producing 13.08 million tons of liquid ammonium nitrate and selling 8.75 million tons of ammonium products[38]. - The company produced 9.40 million tons of LNG and sold 9.30 million tons during the reporting period, with LNG expected to grow at an annual rate of approximately 12%[39]. - The company's market share for fertilizer products continues to increase, covering over 20 provinces and cities nationwide[43]. Research and Development - The company's R&D investment increased significantly by 154.77%, amounting to ¥4,139,237.69, compared to ¥1,624,722.30 in the previous year, indicating a strong focus on new product development[56]. - The company holds 45 valid national patents, including 21 invention patents, showcasing its commitment to innovation and technology advancement[52]. - The company is collaborating with agricultural research institutions to develop new fertilizer technologies and improve product offerings[46]. Environmental and Safety Management - The company continues to face various risks, including safety and environmental risks, price fluctuations, and supply chain issues, and will take proactive measures to address these risks[5]. - The company has strengthened safety and environmental management, ensuring compliance with all monitoring standards[45]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[88]. - The company has reported a total wastewater discharge of 0.085 tons and a total annual discharge of 15.34 tons, adhering to pollution discharge standards[88]. - The company has implemented various pollution control facilities, including a low-nitrogen combustion system, ensuring compliance with environmental standards[91]. Corporate Governance and Shareholder Relations - The company has established a comprehensive governance structure to protect shareholder and creditor rights, ensuring transparency and fairness in operations[97]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[103]. - The company has maintained a clean integrity status with no reported issues for itself or its controlling shareholders[110]. - The company has approved a share repurchase plan to buy back public A-shares using its own funds, aimed at reducing registered capital[139]. Market Strategy and Expansion - The company aims to become a leading packaging enterprise in Western China, focusing on green packaging and functional materials[38]. - The fertilizer industry is transitioning towards eco-friendly and efficient products, with a focus on differentiated and personalized crop nutrition solutions[33]. - The company is adapting to market trends by enhancing its product offerings and focusing on sustainable development in response to increasing environmental regulations[33]. - The company has implemented a marketing strategy that includes 26 agricultural technology promotion meetings, training over 1,200 farmers, and directly or indirectly driving sales of over 10,000 tons[47]. Financial Management - The financial expenses decreased by 24.73% to ¥5,742,162.00, down from ¥7,629,243.87, indicating better cost management[56]. - The company achieved a significant increase in investment income, which rose by 296.72% to ¥11,509,080.89, compared to ¥2,901,085.36 in the previous year, due to increased structured deposit scale and higher annual yield[57]. - The company has invested CNY 65,000 million in bank financial products, with an outstanding balance of CNY 55,000 million[134]. Legal and Compliance - The company reported a total of 10,998.81 million CNY in litigation amounts as a plaintiff, which did not meet the disclosure standard for significant litigation[108]. - The company has not faced any significant legal challenges that would impact its financial standing[108]. - The company has not reported any significant changes in its subsidiaries or other major events during the reporting period[136].

Financial Performance - The company's operating revenue for 2020 was approximately ¥2.91 billion, a decrease of 0.57% compared to ¥2.93 billion in 2019[17]. - The net profit attributable to shareholders increased by 20.09% to ¥103.71 million from ¥86.36 million in 2019[17]. - The net profit after deducting non-recurring gains and losses was ¥91.18 million, up 15.61% from ¥78.86 million in the previous year[17]. - Basic earnings per share rose to ¥0.1753, reflecting a growth of 20.07% compared to ¥0.1460 in 2019[17]. - The diluted earnings per share for 2020 was CNY 0.1753, an increase of 20.07% compared to CNY 0.1460 in 2019[18]. - The total assets at the end of 2020 were CNY 4,004,158,093.60, representing a growth of 4.78% from CNY 3,821,582,729.04 at the end of 2019[18]. - The net profit attributable to shareholders for Q4 2020 was CNY 33,458,293.87, with a total annual net profit of CNY 103,707,827.00[22]. - The company achieved an operating revenue of 2,912.41 million yuan in 2020, a year-on-year decrease of 0.57%[69]. - The net profit attributable to shareholders was 103.71 million yuan, with a basic earnings per share of 0.1753 yuan[69]. Cash Flow and Investments - The net cash flow from operating activities decreased by 15.06% to ¥317.66 million, down from ¥373.97 million in 2019[17]. - The company reported a net cash flow from operating activities of CNY 206,970,798.26 in Q4 2020[22]. - Operating cash inflow totaled approximately $2.91 billion, an increase of 6.63% compared to $2.73 billion in 2019[105]. - Operating cash outflow increased to approximately $2.59 billion, up 10.08% from $2.35 billion in 2019[105]. - Investment cash inflow surged to approximately $1.18 billion, a dramatic increase of 24,752.41% compared to $4.73 million in 2019[105]. - Net cash flow from investment activities was negative at approximately -$502.18 million, a decline of 4,866.13% from -$10.11 million in 2019[105]. - Financing cash inflow increased by 280.59% to approximately $380.59 million from $100 million in 2019[105]. - The net increase in cash and cash equivalents was approximately -$216.77 million, a decrease of 339.80% from -$49.29 million in 2019[105]. Production and Sales - The company produced 49.11 million tons of urea and 30.63 million tons of compound fertilizer during the reporting period[27]. - The sales volume for self-produced urea was 44.36 million tons, and for compound fertilizer, it was 32.76 million tons[27]. - The company produced 79.74 million tons of fertilizer, a 11.52% increase from 71.5 million tons in 2019[94]. - Inventory of chemical fertilizer products decreased by 58.04% year-on-year, indicating improved sales conditions[94]. - The company produced 49,700 tons of melamine and sold 49,700 tons; produced 252,300 tons of liquid ammonium nitrate and sold 180,100 tons; produced 8,800 tons of packaging plastic products and sold 9,300 tons (including trade)[32]. Market and Industry Trends - The fertilizer industry in China is currently facing overcapacity, with a transition from single product competition to comprehensive service competition[44]. - The demand for fertilizers has rebounded due to heightened global focus on food security during the pandemic, leading to a shift towards green and sustainable development[44]. - The melamine production capacity in China reached approximately 2 million tons, with a total production of about 1.32 million tons in 2020, while domestic consumption was only 1 million tons, indicating a supply-demand imbalance[46]. - The car urea market in China consumed approximately 2.56 million tons in 2020, with a projected saturation point of around 7.5 million tons, indicating significant growth potential[49]. - The implementation of stricter emission standards is expected to drive the demand for high-quality car urea products, as low-quality products are phased out of the market[50]. Research and Development - Research and development expenses increased by 196.02% to ¥6,204,766.92 in 2020, compared to ¥2,096,055.05 in 2019[102]. - The number of R&D personnel rose to 102, a 5.15% increase from 97 in the previous year[103]. - The company has developed several industry-leading technologies, including an energy-efficient natural gas conversion technology and a high-efficiency composite fertilizer production process, both of which have received provincial awards[60][61]. - The company launched new products including "Meifeng Mei" and "Meifeng Gen" series fertilizers, and upgraded the "Net Smooth Pro" urea product for the high-end market[103]. Risk Management - Future development strategies and potential risks are discussed in the report, emphasizing the importance of market conditions and operational efforts[5]. - The company faces risks including safety and environmental risks, product price fluctuations, cost increases, and natural gas supply imbalances[6]. - The company is committed to risk prevention and management enhancement as part of its strategic goals[131]. - The company recognizes potential risks related to safety, product price fluctuations, and cost increases in the chemical industry[139]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[198]. - The wastewater discharge for ammonia nitrogen was reported at 0.24 mg/L, with a total discharge of 0.16 tons/year, which is compliant with the national standards[198]. - The company actively participates in social responsibility initiatives, contributing to local agricultural recovery and environmental sustainability[197]. - The company donated a total of CNY 580,000 for educational support during the reporting period[193]. - During the pandemic, the company donated CNY 4,000,000 to assist in epidemic prevention efforts[194]. Strategic Initiatives - The company plans to enhance its development confidence and efforts, focusing on quality and efficiency as the core[131]. - The company aims to optimize its industrial structure and enhance efficiency through a "five-in-one" new energy terminal service demonstration project[132]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[165]. - The company is committed to maintaining competitive pricing strategies in the face of changing market dynamics[168].

Financial Performance - The company's operating revenue for Q1 2021 was ¥781,927,197.57, representing a 37.60% increase compared to ¥568,276,647.01 in the same period last year[9] - Net profit attributable to shareholders for Q1 2021 reached ¥51,751,698.68, a significant increase of 635.27% from ¥7,038,490.67 in Q1 2020[9] - The net profit after deducting non-recurring gains and losses was ¥46,481,393.02, up 405.54% from ¥9,194,487.11 in the previous year[9] - Basic earnings per share for Q1 2021 were ¥0.0875, a 635.29% increase from ¥0.0119 in Q1 2020[9] - Net profit for Q1 2021 was CNY 60.61 million, compared to a net loss of CNY 2.81 million in Q1 2020, indicating a strong turnaround[38] - The profit attributable to shareholders of the parent company was CNY 51.75 million, compared to CNY 7.04 million in the previous year[38] Cash Flow - The net cash flow from operating activities improved to ¥15,008,822.46, compared to a negative cash flow of ¥102,565,422.47 in the same quarter last year, marking a 114.63% increase[9] - Net cash flow from operating activities increased by 117.57 million yuan, up 115%, due to higher cash received from sales exceeding cash paid for purchases[17] - The net cash flow from operating activities for Q1 2021 was ¥24,021,171.80, a significant improvement compared to a net outflow of ¥130,607,300.96 in the same period last year[43] - Total cash inflow from operating activities reached ¥556,984,241.62, up from ¥329,571,318.98 year-over-year, indicating a growth of approximately 69%[43] - The company reported cash inflow from investment activities of ¥503,397,734.05, with a net cash flow from investment activities of ¥963,389.79, a recovery from a net outflow of ¥279,467,916.10 in the previous year[43] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,890,262,698.11, a decrease of 2.84% from ¥4,004,158,093.60 at the end of the previous year[9] - Total liabilities decreased to CNY 856,020,251.63 from CNY 1,034,358,033.79, marking a reduction of about 17.2%[33] - The company's cash and cash equivalents decreased to CNY 553,061,861.26 from CNY 594,017,445.41, a decline of approximately 6.9%[31] - The total current liabilities decreased to CNY 570,735,419.34 from CNY 748,454,777.41, indicating a decline of approximately 23.8%[33] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,703[13] - The largest shareholder, Chengdu Huachuan Petroleum and Natural Gas Exploration and Development Co., Ltd., held 12.18% of the shares, totaling 72,053,552 shares[13] Research and Development - Research and development expenses increased by 0.89 million yuan, up 152%, indicating a rise in R&D investment[17] - Research and development expenses increased to CNY 1.47 million from CNY 0.58 million, highlighting the company's commitment to innovation[36] Inventory and Operating Costs - Inventory increased by 95.47 million yuan, up 52%, as the company plans to develop real estate on its owned land[17] - Total operating costs amounted to CNY 720.62 million, up from CNY 566.49 million, reflecting a significant increase in operating costs[36] Investment Income - Investment income increased by 5.19 million yuan, up 1467%, due to profits from equity-method accounted investees and structured deposits[17] - The company reported a significant increase in investment income, reaching CNY 5.54 million compared to CNY 0.35 million in the previous year[36] Other Financial Metrics - The company reported a decrease in sales expenses by 14.4 million yuan, down 52%, as transportation costs were reclassified into operating costs[17] - Other comprehensive income after tax was CNY 0.69 million, compared to a loss of CNY 0.82 million in the same period last year[38] - The company incurred a financial expense of -¥1,720,705.38, a decrease from ¥162,060.02 in the previous year, indicating improved financial management[39] Future Outlook - The company expects net profit attributable to shareholders to reach 6.5 million yuan, representing a growth of 60.11% to 109.38% compared to the previous year[23]

Financial Performance - Operating revenue for the quarter was CNY 695,383,249, a decrease of 13.61% year-on-year[10] - Net profit attributable to shareholders decreased by 30.84% to CNY 29,653,323 for the quarter[10] - Basic earnings per share decreased by 30.90% to CNY 0.0501[10] - Operating profit decreased by 5,263,000 yuan, a decline of 51%, mainly due to the impact of COVID-19 on sales prices and revenue[18] - Net profit for the period was CNY 16,886,068.88, compared to CNY 25,623,424.29 in the previous year, reflecting a decline of 34.4%[35] - The total profit for the third quarter was CNY 23,087,146.56, compared to CNY 25,803,522.47 in the previous year, reflecting a decline of 10.5%[36] - The total comprehensive income attributable to the parent company's owners was CNY 29,961,734.33, down from CNY 42,662,449.93 year-on-year[36] - The company's operating revenue for the current period is CNY 748,497,336.67, a decrease of 11.85% compared to CNY 849,155,764.08 in the previous period[43] - The net profit for the current period is CNY 323,952,381.07, significantly increasing from CNY 38,196,223.86 in the previous period, representing a growth of 747.73%[43] - The total profit for the current period is CNY 324,761,075.22, up from CNY 38,196,223.86 in the previous period, marking a growth of 749.05%[43] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 36.51% to CNY 89,431,581.85[10] - Cash and cash equivalents decreased by 38,195,000 yuan, a decline of 47%, primarily due to the company's use of its own funds for structured bank deposits[18] - The company's cash and cash equivalents decreased significantly to CNY 337,382,536.80 from CNY 770,275,484.75, a decline of 56.2%[33] - The net cash flow from operating activities for the current period is ¥20,414,872.29, a decrease of 88% compared to ¥170,148,156.34 in the previous period[47] - The total cash inflow from investment activities is ¥668,777,438.46, while the cash outflow is ¥1,168,108,866.45, resulting in a net cash flow of -¥499,331,427.99[46] - The cash inflow from sales of goods and services is ¥37,898,418.05, a decline from ¥60,295,402.88 in the previous period[47] Assets and Liabilities - Total assets increased by 2.12% to CNY 3,902,520,323 compared to the end of the previous year[10] - Current assets increased to CNY 1,150,085,181.34 from CNY 922,230,424.28, representing a growth of 24.7%[33] - Total liabilities amounted to CNY 984,844,532.35, compared to CNY 921,723,736.00, marking an increase of 6.8%[31] - The company reported a decrease in inventory from CNY 46,503,945.53 to CNY 20,601,969.44, a reduction of 55.7%[33] - The total equity attributable to shareholders increased to CNY 2,847,395,365.45 from CNY 2,801,320,354.37, an increase of 1.6%[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 50,330[14] - The largest shareholder, Chengdu Huachuan Petroleum and Natural Gas Exploration and Development Co., Ltd., holds 12.18% of the shares[14] Research and Development - Research and development expenses increased by 59,000 yuan, a rise of 36%, reflecting increased R&D spending[18] - Research and development expenses for the third quarter were CNY 427,872.26, slightly up from CNY 423,676.61 in the previous year[38] - The company's research and development expenses for the current period are CNY 1,726,593.56, slightly up from CNY 1,618,000.90 in the previous period[43] Investment Activities - The company reported an investment income of CNY 3,026,840.20 for the third quarter, compared to CNY 883,727.17 in the same period last year[38] - The company achieved an investment income of CNY 315,258,535.04, a significant increase from CNY 1,552,610.55 in the previous period[43] Other Financial Metrics - The weighted average return on net assets was 1.04%, down by 0.46% compared to the previous year[10] - The company reported non-recurring gains and losses totaling CNY 6,788,202.11 for the year-to-date period[11] - Other income increased by 345,000 yuan, a rise of 209%, mainly due to an increase in government subsidies received[18] - The company's operating costs decreased to CNY 631,450,742.73 from CNY 706,983,767.77 in the previous period, a reduction of 10.67%[43] - The company reported a decrease in sales expenses to CNY 8,382,874.80 from CNY 9,692,755.58 in the previous period, a decline of 13.49%[43] Audit and Compliance - The company did not undergo an audit for the third quarter report[50] - The company has not made any adjustments to the beginning balance sheet items due to the new revenue recognition and leasing standards implemented in 2020[49] Strategic Developments - No significant new strategies or product developments were mentioned in the report[17]

Group 1: Event Details - The company will participate in the "2020 Sichuan Listed Companies Investor Online Reception Day" on September 25, 2020, from 15:00 to 17:00 [2] - The event will be held on the internet platform provided by Shenzhen Panorama Network Co., Ltd. [2] Group 2: Communication Focus - Company executives will engage with investors regarding governance, operational status, development strategy, risk management, and investor protection [2] - The aim is to enhance interaction and communication with investors [2] Group 3: Participation Encouragement - The company encourages all investors to actively participate in the event [2]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,384,827,769.51, a decrease of 8.09% compared to ¥1,506,715,132.00 in the same period last year[17]. - The net profit attributable to shareholders was ¥40,596,200.92, down 36.06% from ¥63,489,365.26 year-on-year[17]. - The net cash flow from operating activities was ¥21,257,955.84, a significant decline of 84.01% compared to ¥132,941,699.70 in the previous year[17]. - The basic earnings per share decreased by 36.07% to ¥0.0686 from ¥0.1073 in the same period last year[17]. - The weighted average return on net assets was 1.44%, down from 2.24% in the previous year[17]. - The company's operating profit decreased by 56.05% to ¥34,413,671.87 from ¥78,309,614.67 in the same period last year[42]. - The company reported a total comprehensive income of CNY 21,565,902.22 for the first half of 2020, compared to CNY 74,467,361.28 in the same period of 2019[153]. - The total revenue for the first half of 2020 was CNY 519,805,805.42, slightly down from CNY 534,954,057.64 in the first half of 2019, indicating a decrease of about 2.14%[155]. - The operating profit for the first half of 2020 reached CNY 325,309,108.82, compared to CNY 13,678,720.27 in the previous year, marking a substantial increase[156]. - The net profit for the first half of 2020 was CNY 324,699,707.05, a significant increase from CNY 15,584,089.83 in the same period of 2019, representing a growth of approximately 1965%[156]. Production and Sales - The company produced 248,000 tons of urea and 157,600 tons of compound fertilizer during the reporting period[25]. - The sales volume for urea was 224,600 tons and for compound fertilizer was 151,300 tons[25]. - The company produced 24.80 million tons of urea, a year-on-year increase of 13.19%[35]. - The company sold 22.46 million tons of urea, a year-on-year increase of 10.04%[35]. - The company produced 7.77 million tons of automotive urea, a year-on-year increase of 18.26%[35]. - The company sold 7.64 million tons of automotive urea, a year-on-year increase of 20.70%[35]. - The company produced 7.03 million tons of LNG, a year-on-year decrease of 19.66%[35]. - The company sold 6.95 million tons of LNG, a year-on-year decrease of 19.47%[35]. - The company shipped over 200,000 tons of various fertilizers during the spring plowing period to ensure supply for agricultural needs[113]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,789,451,272.07, a decrease of 0.84% from the previous year-end[17]. - The net assets attributable to shareholders increased by 0.61% to ¥2,818,447,615.87 compared to the previous year-end[17]. - Cash and cash equivalents decreased by 6.66% to CNY 487.26 million, accounting for 12.86% of total assets compared to 19.52% in the previous year[47]. - Accounts receivable slightly decreased by 0.07% to CNY 50.15 million, representing 1.32% of total assets[47]. - Inventory decreased by 0.22% to CNY 222.12 million, making up 5.86% of total assets[47]. - The company reported a total equity attributable to shareholders of the parent company of 2,898,442,237.89 RMB as of the end of the reporting period[169]. - The total assets amounted to CNY 3,789,451,272.07 as of June 30, 2020, slightly down from CNY 3,821,582,729.04 at the end of 2019[142]. - Total liabilities decreased to CNY 891,009,034.18 from CNY 921,723,736.00, a reduction of 3.3%[143]. Research and Development - Research and development investment increased by 35.75% to ¥1,624,722.30, up from ¥1,196,816.21 in the previous year[42]. - The company has developed new products including high-efficiency stable urea and slow-release urea-sulfur-based compound fertilizers[32]. - Sichuan Meifeng plans to invest CNY 100 million in new energy technology research and development, aiming to enhance its market position in the energy sector[59]. - The company aims to enhance its market presence and product offerings through ongoing research and development initiatives[148]. Strategic Initiatives - The company signed a strategic cooperation framework agreement with the government to invest in a modern agricultural industry demonstration park project[37]. - The company is focusing on the development of environmentally friendly products, with a projected investment of CNY 30 million in environmental technology research[60]. - Sichuan Meifeng aims to enhance its market share through strategic acquisitions and partnerships in the agricultural sector, targeting a 10% increase in market penetration by the end of 2021[59]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[105]. - The company has established various environmental protection facilities in compliance with environmental regulations, including waste gas treatment and wastewater treatment systems[106]. - The wastewater treatment processes include low-temperature condensation recovery for ammonia wastewater and deep hydrolysis for urea wastewater, ensuring compliance with discharge standards[107]. - The company holds a valid discharge permit, which was issued on December 21, 2017, and is effective until December 20, 2020, with total emissions within the permitted limits[108]. - The company has implemented a self-monitoring plan according to the discharge permit requirements, utilizing both manual and online monitoring methods[106]. - The company has maintained compliance with environmental protection regulations, with no new pollution control facilities added during the reporting period[112]. Related Party Transactions - The company reported a total amount of related party transactions of CNY 35,050.57 million, accounting for 59.36% of similar transactions[76]. - The company purchased raw materials from related parties, with a transaction amount of CNY 169.24 million, representing 50.57% of similar transactions[78]. - The company engaged in related party transactions for LNG procurement, amounting to CNY 247.46 million, which is 95.15% of similar transactions[78]. - The company’s related party transactions were conducted in accordance with market prices and principles of fairness[76]. - The company disclosed its related party transactions in compliance with regulatory requirements[76]. Risks and Challenges - The main reason for the decline in performance is attributed to the impact of the COVID-19 pandemic and fluctuations in market prices, leading to a decrease in sales prices of main products[61]. - The company faces various risks including safety and environmental risks, product price volatility, rising costs, and uneven natural gas supply[62]. - To mitigate risks, the company plans to strictly control safety and environmental risks, optimize production cost management, enhance profitability through innovation, and coordinate resource supply[62].

Financial Performance - The company's operating revenue for 2019 was CNY 2,929,130,915.91, representing a 10.96% increase compared to CNY 2,639,919,528.80 in 2018[16]. - The net profit attributable to shareholders for 2019 was CNY 86,358,201.81, a decrease of 60.67% from CNY 219,596,981.88 in 2018[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 78,864,718.23, down 63.96% from CNY 218,796,816.00 in the previous year[16]. - The basic earnings per share for 2019 was CNY 0.1460, a decline of 60.68% compared to CNY 0.3713 in 2018[17]. - The total assets at the end of 2019 were CNY 3,821,582,729.04, a decrease of 7.89% from CNY 4,149,081,899.51 at the end of 2018[17]. - The net assets attributable to shareholders at the end of 2019 were CNY 2,801,320,354.37, showing a slight increase of 0.07% from CNY 2,799,287,599.03 at the end of 2018[17]. - The net cash flow from operating activities for 2019 was CNY 373,969,067.48, down 15.83% from CNY 444,282,625.54 in 2018[16]. - The weighted average return on net assets for 2019 was 3.04%, a decrease of 4.99% from 8.03% in 2018[17]. - The company reported a total profit of CNY 100,903,845.33 for 2019, with a net profit attributable to shareholders of CNY 86,358,201.81[120]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares to all shareholders[6]. - The cash dividend amount for 2019 was CNY 29,574,217.60, which accounted for 34.25% of the net profit attributable to the parent company[120]. - In 2018, the cash dividend was CNY 1.50 per 10 shares, totaling CNY 88,722,652.80, representing 40.40% of the net profit attributable to the parent company[120]. - The cash dividend for 2017 was CNY 0.80 per 10 shares, amounting to CNY 47,318,748.16, which was 30.41% of the net profit attributable to the parent company[120]. - The company implemented a cash dividend policy, distributing 1.50 CNY per 10 shares based on a total share count of 591,484,352 shares for the 2018 fiscal year[116]. Market and Industry Trends - The compound fertilizer industry in China is undergoing a transformation, with a focus on ecological and green development, as well as product innovation to meet new agricultural modernization requirements[31]. - The market concentration in the fertilizer industry is expected to increase, with a significant number of outdated production capacities being eliminated, leading to a trend towards larger-scale operations and mergers[32]. - The demand for new types of fertilizers suitable for vegetables and fruits is rising, with controlled-release fertilizers, water-soluble fertilizers, and organic fertilizers expected to gain market share over time[31]. - The domestic melamine market has seen a significant increase in production capacity, exceeding 200,000 tons annually, while actual consumption remains at 900,000 tons, leading to a supply-demand imbalance[35]. - The price of melamine has dropped significantly, with market prices falling below 6,000 yuan, indicating a weak market environment[36]. - The car urea market is experiencing growth, with consumption increasing by 27.3% from 155.3 thousand tons in 2018 to 197.7 thousand tons in 2019, driven by stricter emission standards[39]. - The implementation of the National VI emission standards is expected to further boost the demand for car urea, enhancing environmental protection efforts[39]. - The fertilizer industry is facing challenges due to high production costs and environmental regulations, leading to a shift towards high-efficiency ecological fertilizers with soil restoration capabilities[34]. Production and Sales - The company produced 41.49 thousand tons of urea and 30.01 thousand tons of compound fertilizer, selling 37.87 thousand tons of urea and 28.80 thousand tons of compound fertilizer during the reporting period[26]. - The company produced 11.17 thousand tons of automotive urea and sold 11.20 thousand tons, focusing on expanding the market and enhancing brand development[27]. - The company has an annual production capacity of 50 thousand tons of melamine, 180 thousand tons of dilute nitric acid, and 225 thousand tons of ammonium nitrate, with production figures of 52.20 thousand tons of melamine and 25.05 thousand tons of liquid ammonium nitrate reported[28]. - The company produced and sold 17.81 thousand tons and 17.96 thousand tons of liquefied natural gas (LNG) respectively during the reporting period[29]. - The company sold 66.67 million tons of chemical fertilizers, an increase of 11.92% compared to the previous year[67]. Research and Development - The company has developed a proprietary spray granulation process for compound fertilizer, achieving a high granulation rate and low energy consumption, which won the Sichuan Provincial Science and Technology Progress Award[51]. - The company has created a high tower granulation process for large particle urea, recognized with the Sichuan Provincial Science and Technology Progress Award, featuring low investment and high automation[52]. - The company has established a circular economy industrial chain process, maximizing resource utilization and demonstrating a model for industry structure adjustment[53]. - The company has developed a vehicle urea solution production technology, achieving multiple international and domestic certifications, with an annual production capacity of 600,000 tons[54]. - The company has introduced a new formula for heavy-duty membrane bags, filling a domestic gap and achieving industry-leading performance metrics[55]. - The company has collaborated with China Five Ring Engineering Company to develop a low-energy urea synthesis technology, which won the Nitrogen Fertilizer and Methanol Industry Technology Progress Award[56]. - The company has completed the trial production of high-efficiency stable urea and slow-release urea-sulfur-based compound fertilizers, successfully launching several new products[57]. - The company has invested CNY 100 million in research and development for new energy technologies, aiming to enhance its product offerings and sustainability[96]. Risk Management - The company has identified several risk factors, including safety and environmental risks, product price fluctuations, cost increases, and natural gas supply imbalances[5]. - The company faces risks related to safety and environmental issues, product price fluctuations, rising costs, and natural gas supply imbalances[111]. - The company plans to optimize its production cost management to ensure efficient and safe operations while enhancing profitability through innovation[112]. Corporate Social Responsibility - The company actively engaged in social responsibility initiatives, donating fertilizers to impoverished areas and supporting local schools[60]. - The company is committed to corporate social responsibility, actively engaging in poverty alleviation and educational support initiatives[110]. Environmental Compliance - The company has established a comprehensive environmental monitoring plan, including both manual and online monitoring methods, to ensure compliance with discharge permits[179]. - The company has maintained its pollutant discharge license, which is valid until December 20, 2020, and has adhered to all regulatory requirements[179]. - The company has reported zero exceedances in its pollutant discharge limits, demonstrating effective compliance with environmental regulations[181]. - The company has implemented a series of pollution control measures, including low-nitrogen burners and advanced wastewater treatment technologies[180]. Future Outlook - Future guidance indicates a targeted revenue growth of 10% for 2020, driven by increased sales in both domestic and international markets[96]. - The company aims for a revenue target of over 2.5 billion yuan and a basic profit target of 60 million yuan for 2020, with a striving profit target of 90 million yuan[104]. - The company plans to expand its market presence through new product development and technological advancements in the chemical fertilizer sector[96]. - Future guidance indicates a revenue target of 1.5 billion yuan for 2020, reflecting a growth rate of 25%[144]. - The company anticipates continued growth in revenue driven by increased production capacity and market expansion efforts[148].

Financial Performance - The company's operating revenue for Q1 2020 was ¥568,276,647.01, a decrease of 23.43% compared to ¥742,175,877.76 in the same period last year[9] - Net profit attributable to shareholders was ¥7,038,490.67, down 75.89% from ¥29,196,282.60 year-on-year[9] - Basic earnings per share decreased by 75.91% to ¥0.0119 from ¥0.0494 in the same period last year[9] - Operating profit decreased by CNY 43.68 million, down 92% year-on-year, primarily impacted by a decline in sales volume and prices of main products due to the COVID-19 pandemic[17] - Net profit for the current period was -¥2,809,756.52, compared to a net profit of ¥42,289,355.08 in the previous period, indicating a significant decline[39] - Operating revenue for the current period is ¥213,646,473.30, a decrease of 13.7% from ¥247,445,409.88 in the previous period[40] - Operating profit for the current period is ¥5,413,551.82, compared to a loss of ¥1,666,285.27 in the previous period, indicating a significant turnaround[40] - Net profit for the current period is ¥5,451,325.34, recovering from a net loss of ¥1,560,393.17 in the previous period[40] Cash Flow - The net cash flow from operating activities was -¥102,565,422.47, a decline of 227.80% compared to ¥80,251,981.30 in the previous year[9] - Cash flow from operating activities shows a net outflow of ¥102,565,422.47, a decline from a net inflow of ¥80,251,981.30 in the previous period[42] - Cash flow from investing activities results in a net outflow of ¥280,669,300.37, compared to a net inflow of ¥1,010,850.85 in the previous period[43] - Cash flow from financing activities shows a net outflow of ¥55,673,775.18, slightly improved from a net outflow of ¥59,131,656.34 in the previous period[43] - Total cash and cash equivalents at the end of the period is ¥370,001,948.07, down from ¥879,209,269.87 at the end of the previous period[42] - Total cash and cash equivalents at the end of the period decreased to 308,579,503.81 from 790,783,837.13, reflecting a decline of 61.0%[45] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,689,223,166.91, down 3.46% from ¥3,821,582,729.04 at the end of the previous year[9] - Total assets decreased to CNY 3.69 billion from CNY 3.82 billion, indicating a reduction in overall asset value[33] - Total liabilities decreased to CNY 787.20 million from CNY 921.72 million, showing a decline in financial obligations[33] - Total liabilities decreased to ¥721,676,175.12 from ¥857,182,531.39, a decline of 15.8%[36] - Current assets totaled ¥796,694,960.70, down 13.6% from ¥922,230,424.28[36] Inventory and Receivables - Trade receivables decreased by 53%, amounting to a reduction of ¥1,130,000, mainly due to the maturity of commercial acceptance bills[16] - The company’s prepayments decreased by 51%, reflecting the recognition of revenue from winter storage product sales during the reporting period[16] - Inventory increased to CNY 278.72 million from CNY 242.99 million, reflecting a rise in stock levels[31] - Inventory increased significantly to ¥81,619,008.62, up 75.5% from ¥46,503,945.53[35] Financial Ratios and Returns - The weighted average return on equity was 0.25%, down from 1.04% in the previous year[9] - Basic and diluted earnings per share for the current period are both ¥0.0092, recovering from a loss of ¥0.0026 in the previous period[40] Other Financial Metrics - Financial expenses decreased by CNY 4.32 million, down 53% year-on-year, primarily due to a reduction in borrowing amounts[17] - Other income increased by CNY 1.20 million, up 269% year-on-year, mainly due to an increase in government subsidies received[17] - Special reserves increased by CNY 4.92 million, up 33% compared to the beginning of the year, mainly due to safety production expenses extracted according to national regulations[17] Compliance and Audit - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[46] - The company has not applied new revenue and leasing standards, indicating a potential area for future compliance adjustments[46]

Financial Performance - Operating revenue increased by 4.64% to CNY 804,956,748.63 for the current period, with a year-to-date increase of 17.72% to CNY 2,311,671,880.63[8] - Net profit attributable to shareholders decreased by 52.53% to CNY 42,873,860.01 for the current period, with a year-to-date decrease of 50.07% to CNY 106,363,225.27[8] - Basic earnings per share fell by 52.52% to CNY 0.0725 for the current period, with a year-to-date decrease of 50.08% to CNY 0.1798[8] - The estimated cumulative net profit for the year is expected to be 90 million yuan, a decrease of 59.02% compared to the previous year[21] - Basic earnings per share are expected to be 0.1522 yuan, down 59.02% compared to the previous year[21] - Net profit for Q3 2019 decreased to CNY 22,913,806.68, down 75.5% from CNY 93,069,474.35 in the previous year[38] - The total profit for Q3 2019 was CNY 25,803,522.47, down 75.2% from CNY 104,093,575.75 in the previous year[38] - Net profit for the period was ¥96,846,799.25, a decrease of 52.3% from ¥203,308,491.39 in the same period last year[43] - The company reported a total profit of ¥106,867,169.33, down 53.3% from ¥229,351,154.20 in the previous year[43] Assets and Liabilities - Total assets decreased by 7.69% to CNY 3,829,826,771.14 compared to the end of the previous year[8] - Total liabilities decreased from CNY 1,252,341,544.66 to CNY 915,737,358.78, a decline of approximately 26.9%[33] - Current liabilities decreased significantly from CNY 830,039,510.19 to CNY 576,347,415.48, a reduction of about 30.6%[33] - Long-term borrowings decreased from CNY 395,982,633.41 to CNY 314,818,616.78, a decrease of approximately 20.5%[33] - The company reported a decrease in fixed assets from CNY 2,364,983,408.10 to CNY 2,215,704,279.08, a decline of approximately 6.3%[32] - The company’s total non-current assets decreased from CNY 2,739,669,571.79 to CNY 2,595,059,674.91, a reduction of about 5.3%[32] - Total assets amounted to CNY 4,149,081,899.51, with non-current assets at CNY 2,739,669,571.79[53] - Total liabilities amounted to ¥1,028,399,049.72, with non-current liabilities totaling ¥54,542,142.89[58] Cash Flow - The net cash flow from operating activities decreased by 30.11% to CNY 273,790,666.02 year-to-date[8] - The cash inflow from operating activities for the period reached CNY 2,178,191,263.83, an increase from CNY 1,992,013,168.32 in the previous period, representing a growth of approximately 9.3%[46] - The net cash flow from operating activities was CNY 273,790,666.02, down from CNY 391,729,754.94 in the same period last year, indicating a decline of about 30.1%[46] - The cash outflow for purchasing goods and services was CNY 1,423,721,719.27, compared to CNY 1,190,990,373.42 in the previous period, reflecting an increase of approximately 19.5%[46] - The company experienced a net decrease in cash and cash equivalents of CNY 78,645,562.67 during the period, contrasting with a net increase of CNY 1,468,917.41 in the previous period[48] Shareholder Information - The total number of shareholders at the end of the reporting period was 48,254[11] - The largest shareholder, Chengdu Huachuan Petroleum and Natural Gas Exploration and Development Co., Ltd., holds 12.18% of the shares[11] - There were no significant changes in the shareholding structure or any repurchase transactions during the reporting period[12] Operating Costs and Expenses - Operating costs increased by 494.54 million yuan, up 35% year-on-year, mainly due to increased sales of LNG and urea products and rising raw material prices[16] - R&D expenses increased by 0.49 million yuan, up 43% year-on-year, primarily due to increased expenses in the R&D department[16] - The company reported a significant increase in non-operating income, which rose by 2.82 million yuan, up 582% year-on-year, mainly due to increased government subsidies related to income[16] - Research and development expenses increased slightly to CNY 427,885.88 from CNY 403,074.15, reflecting a focus on innovation[37] - The company’s financial expenses decreased to ¥17,936,524.80, down 37.9% from ¥28,910,049.52 in the previous period[41] - The company’s tax expenses were ¥10,020,370.08, down 61.5% from ¥26,042,662.81 in the same period last year[43]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,506,715,132, representing a 26.14% increase compared to CNY 1,194,478,975 in the same period last year[16]. - The net profit attributable to shareholders of the listed company decreased by 48.26% to CNY 63,489,365.26 from CNY 122,702,862.11 year-on-year[16]. - The net cash flow from operating activities was CNY 132,941,699.70, down 25.76% from CNY 179,063,127.33 in the previous year[16]. - The basic earnings per share decreased by 48.26% to CNY 0.1073 from CNY 0.2074 in the same period last year[16]. - The company reported a significant decrease in operating profit, which fell by 37.77% to CNY 78,309,614.67 from CNY 125,842,075.31, attributed to lower product prices and increased raw material costs[42]. - The company reported a net profit forecast for the period from January to September 2019 to be between 80 million and 110 million CNY, representing a decrease of approximately 62.45% compared to the previous year[60]. - The basic earnings per share are expected to decline to between 0.1353 and 0.1860 CNY, down from 0.3602 CNY in the same period last year, indicating a significant drop of 62.45%[60]. Production and Sales - The company produced 219,100 tons of urea and 154,500 tons of compound fertilizer during the reporting period, with sales of 204,100 tons of urea and 148,400 tons of compound fertilizer[24]. - The company produced 21.91 million tons of urea, a year-on-year increase of 13.52%[33]. - The company sold 8.63 million tons of LNG, a year-on-year increase of 268.80%[33]. - The company produced 6.57 million tons of automotive urea, a year-on-year increase of 30.88%[33]. - The company sold 20.41 million tons of urea, a year-on-year increase of 19.85%[33]. - The company achieved a revenue of 1,506,715,132.00 yuan, representing a year-on-year growth of 26.14%[34]. - The company’s production of LNG reached 87,500 tons, with a significant increase in natural gas consumption of 11,667.69 million cubic meters year-on-year[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,877,794,483.93, a decrease of 6.54% from CNY 4,149,081,899.51 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company were CNY 2,780,574,932.84, down 0.67% from CNY 2,799,287,599.03 at the end of the previous year[16]. - The total liabilities decreased to CNY 869,777,289.19 as of June 30, 2019, from CNY 1,028,399,049.72 at the end of 2018[122]. - The company's current assets totaled CNY 1,236,598,514.55, down from CNY 1,409,412,327.72 at the end of 2018, indicating a decrease of about 12.2%[118]. - The company's total equity attributable to shareholders at the end of the period was ¥2,888,471,315.97, reflecting a decrease from the previous year[135]. Research and Development - Research and development expenses increased by 63.31% to CNY 1,196,816.21, up from CNY 732,856.77, reflecting a focus on innovation[41]. - The company is focusing on new product development, with seven new projects identified, including high-efficiency stable urea and magnesium nitrate compound fertilizer[39]. - The company is actively engaging in research and development for new products and technologies to maintain competitive advantage[75]. Risk Management - The company faces various risks including safety and environmental risks, price fluctuations, and supply chain issues, and will take proactive measures to address these risks[4]. - To mitigate risks, the company plans to strengthen safety production measures, enhance market marketing strategies, and improve cost control[62][63]. - The company faces various risks, including safety and environmental risks, product price volatility, rising costs, and uneven natural gas supply[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 47,816[104]. - The largest shareholder, Chengdu Huachuan Petroleum and Natural Gas Exploration Development Co., Ltd., holds 12.18% of shares, totaling 72,053,552 shares[104]. - The total number of shares is 591,484,352, with no changes in restricted shares[102]. Environmental Compliance - The company has established and operated pollution prevention facilities in accordance with environmental protection requirements, with all facilities operating normally during the reporting period[94]. - The company has obtained pollution discharge permits for its fertilizer and technology subsidiaries, which are valid and managed according to regulations[95]. - The company is classified as a key pollutant discharge unit, with total wastewater emissions including ammonia nitrogen and chemical oxygen demand[92]. Corporate Governance - The company held a temporary shareholders' meeting with an investor participation rate of 16.68% on March 15, 2019, and an annual shareholders' meeting with a participation rate of 16.96% on May 7, 2019[66]. - There were significant changes in the board of directors and supervisory board members, with multiple new appointments made on March 15, 2019[111]. Financial Reporting - The half-year financial report was not audited[69]. - The company did not conduct an audit for the semi-annual financial report, indicating that the financial data may not have been independently verified[115]. - The financial statements are prepared based on the going concern principle, with no significant issues affecting the company's ability to continue operations identified[156].