山东海化股份有限公司 2020 年半年度报告 2020 年 08 月 山东海化股份有限公司 2020 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人王永志、主管会计工作负责人魏鲁东及会计机构负责人(会计主管人员)张明 声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本半年报涉及的未来计划等前瞻性陈述，不构成公司对投资者的实质性承诺，请投资者 注意风险。 公司在本报告"第四节 经营情况讨论与分析"之"十、公司面临的风险和应对措施"部 分描述了公司未来经营中可能存在的风险和应对措施，请投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 山东海化股份有限公司 2020 年半年度报告全文 目 录 | --- | --- | --- | |-------|--------------------------------------------------------------- ...

[Section 1 Important Notes](index=2&type=section&id=Section%201%20Important%20Notes) The Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report - The company's Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report's content, and assume individual and joint legal responsibility for any false records, misleading statements, or major omissions[4](index=4&type=chunk) - The company's person in charge, Wang Yongzhi, the person in charge of accounting, Wei Ludong, and the head of the accounting department, Zhang Ming, declare that they guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[5](index=5&type=chunk) [Section 2 Company Profile](index=2&type=section&id=Section%202%20Company%20Profile) This section outlines key financial data, showing a significant year-over-year performance decline, and discloses shareholder structure, with Shandong Haihua Group Co, Ltd as the largest shareholder [I. Key Accounting Data and Financial Indicators](index=2&type=section&id=I.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's Q1 2020 revenue and net profit declined significantly, with net profit attributable to shareholders turning from profit to loss, and net cash flow from operating activities also decreased substantially Key Accounting Data and Financial Indicators for Q1 2020 (Consolidated) | Indicator | Current Period (Yuan) | Prior Year Period (Adjusted) (Yuan) | Change vs Prior Year Period (Adjusted) | | :--- | :--- | :--- | :--- | | Operating Revenue | 863,291,826.18 | 1,069,579,320.18 | -19.29% | | Net Profit Attributable to Shareholders | -20,602,334.41 | 90,878,122.00 | -122.67% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -21,487,080.81 | 88,992,260.55 | -124.14% | | Net Cash Flow from Operating Activities | -70,042,080.62 | 337,639,713.64 | -120.74% | | Basic Earnings Per Share (Yuan/Share) | -0.02 | 0.10 | -120.00% | | Diluted Earnings Per Share (Yuan/Share) | -0.02 | 0.10 | -120.00% | | Weighted Average Return on Equity | -0.61% | 2.66% | -3.27% | | **Period-End Indicators** | **End of Current Period (Yuan)** | **End of Prior Year (Adjusted) (Yuan)** | **Change vs End of Prior Year (Adjusted)** | | Total Assets | 4,489,075,214.94 | 4,518,707,608.58 | -0.66% | | Net Assets Attributable to Shareholders | 3,341,515,546.30 | 3,361,317,832.00 | -0.59% | - The company adopted the new revenue standard from January 1, 2020, which had no material impact on its financial statements[7](index=7&type=chunk) [Non-recurring Profit and Loss Items and Amounts](index=3&type=section&id=Non-recurring%20Profit%20and%20Loss%20Items%20and%20Amounts) Non-recurring profit and loss items for the period primarily consisted of government grants and other non-operating income and expenses, totaling 884,746.40 Yuan Non-recurring Profit and Loss Items for Q1 2020 | Item | Amount from Beginning of Year to End of Reporting Period (Yuan) | | :--- | :--- | | Government grants included in current profit or loss | 1,032,151.87 | | Other non-operating income and expenses | 147,510.00 | | Total | 884,746.40 | [II. Total Number of Shareholders and Shareholding of Top Ten Shareholders at the End of the Reporting Period](index=3&type=section&id=II.%20Total%20Number%20of%20Shareholders%20and%20Shareholding%20of%20Top%20Ten%20Shareholders%20at%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company had 65,375 common shareholders, with Shandong Haihua Group Co, Ltd being the largest shareholder at 40.34% - The total number of common shareholders at the end of the reporting period was **65,375**[11](index=11&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held (Shares) | | :--- | :--- | :--- | :--- | | Shandong Haihua Group Co, Ltd | State-owned legal person | 40.34% | 361,048,878 | - Shandong Haihua Group Co, Ltd has no associated relationship with other shareholders, and it is unknown whether other shareholders have any associated relationships or are parties acting in concert[14](index=14&type=chunk) [Section 3 Important Matters](index=4&type=section&id=Section%203%20Important%20Matters) This section details the changes and reasons for major financial data fluctuations and confirms no significant corporate actions like securities investments or irregular guarantees occurred during the period [I. Changes in Key Financial Data and Indicators and Their Reasons](index=4&type=section&id=I.%20Changes%20in%20Key%20Financial%20Data%20and%20Indicators%20and%20Their%20Reasons) Significant changes in financial indicators were driven by increased credit sales, reduced VAT, inventory write-downs for raw materials, and operating losses Changes in Key Financial Data and Reasons | Item | Period-End Balance (or Current Amount) (Yuan) | Beginning Balance (or Prior Period Amount) (Yuan) | Change Ratio | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Accounts Receivable | 131,689,455.24 | 3,731,879.80 | 3428.77% | Mainly due to an increase in credit sales during the period | | Other Current Assets | 32,993,242.61 | 47,229,667.44 | -30.14% | Mainly due to a decrease in input VAT to be credited during the period | | Taxes Payable | 12,526,662.21 | 6,147,642.12 | 103.76% | Mainly due to an increase in VAT and resource tax payable during the period | | Taxes and Surcharges | 13,492,623.11 | 20,027,622.00 | -32.63% | Mainly due to a decrease in surcharges resulting from lower VAT compared to the same period last year | | Selling Expenses | 11,346,511.78 | 34,623,643.95 | -67.23% | Mainly due to the impact of implementing the new revenue standard | | Finance Costs | -3,374,617.30 | -774,223.62 | -335.87% | Mainly due to an increase in interest income during the period | | Asset Impairment Loss | -6,992,626.36 | -2,096,922.75 | 233.47% | Mainly due to the provision for inventory write-down on raw materials during the period | | Income Tax Expense | -7,114,790.64 | 28,940,547.01 | -124.58% | Mainly due to the impact of the loss in profit during the period | | Non-operating Income | 290,203.53 | 1,623,518.66 | -82.13% | Mainly due to a decrease in gains from the disposal of non-current assets during the period | | Net Cash Flow from Operating Activities | -70,042,080.62 | 337,639,713.64 | -120.74% | Mainly due to a decrease in cash received from the sale of goods during the period | [II. Progress, Impact, and Solutions for Important Matters](index=4&type=section&id=II.%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Important%20Matters) During the reporting period, the company had no progress, impact, or solutions to report for any important matters - The company had no progress, impact, or solutions to report for any important matters during the reporting period[16](index=16&type=chunk) [III. Overdue Commitments by Relevant Parties](index=4&type=section&id=III.%20Overdue%20Commitments%20by%20Relevant%20Parties) The company had no overdue commitments from its actual controller, shareholders, related parties, acquirers, or itself during the reporting period - The company had no overdue commitments from its actual controller, shareholders, related parties, acquirers, or itself during the reporting period[16](index=16&type=chunk) [IV. Securities Investment](index=5&type=section&id=IV.%20Securities%20Investment) The company did not engage in any securities investment during the reporting period - The company had no securities investments during the reporting period[19](index=19&type=chunk) [V. Entrusted Wealth Management](index=5&type=section&id=V.%20Entrusted%20Wealth%20Management) The company did not engage in any entrusted wealth management during the reporting period - The company had no entrusted wealth management activities during the reporting period[19](index=19&type=chunk) [VI. Derivatives Investment](index=5&type=section&id=VI.%20Derivatives%20Investment) The company did not engage in any derivatives investment during the reporting period - The company had no derivatives investments during the reporting period[19](index=19&type=chunk) [VII. Record of Investor Relations Activities](index=5&type=section&id=VII.%20Record%20of%20Investor%20Relations%20Activities) The company communicated with individual investors via telephone regarding the industry situation and development trends Investor Relations Activities During the Reporting Period | Reception Time | Reception Method | Reception Type | Index of Basic Survey Information | | :--- | :--- | :--- | :--- | | 2020-01-01 to 2020-03-31 | Telephone Communication | Individual | 1. Company's industry situation and development trends; 2. No materials provided | [VIII. Irregular External Guarantees](index=5&type=section&id=VIII.%20Irregular%20External%20Guarantees) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[19](index=19&type=chunk) [IX. Non-operating Fund Occupation by Controlling Shareholders](index=5&type=section&id=IX.%20Non-operating%20Fund%20Occupation%20by%20Controlling%20Shareholders) There was no non-operating fund occupation of the listed company by its controlling shareholder or related parties during the reporting period - The company had no non-operating fund occupation by its controlling shareholder or related parties during the reporting period[20](index=20&type=chunk) [Section 4 Financial Statements](index=6&type=section&id=Section%204%20Financial%20Statements) This section presents the consolidated and parent company financial statements for Q1 2020 and details adjustments made due to the adoption of the new revenue standard [I. Financial Statements](index=6&type=section&id=I.%20Financial%20Statements) This part includes the consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2020 [1. Consolidated Balance Sheet](index=6&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of March 31, 2020, total consolidated assets were 4.489 billion Yuan, with total liabilities of 1.178 billion Yuan and total equity attributable to the parent company of 3.342 billion Yuan Key Data from Consolidated Balance Sheet (Mar 31, 2020 vs Dec 31, 2019) | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | | :--- | :--- | :--- | | Total Assets | 4,489,075,214.94 | 4,518,707,608.58 | | Total Current Assets | 2,122,882,719.24 | 2,103,822,846.21 | | Total Non-current Assets | 2,366,192,495.70 | 2,414,884,762.37 | | Total Liabilities | 1,177,507,760.52 | 1,187,463,606.60 | | Total Current Liabilities | 1,052,609,423.03 | 960,955,396.77 | | Total Non-current Liabilities | 124,898,337.49 | 226,508,209.83 | | Total Equity Attributable to Parent Company | 3,341,515,546.30 | 3,361,317,832.00 | - **Accounts receivable increased sharply** from 3,731,879.80 Yuan at the end of 2019 to 131,689,455.24 Yuan on March 31, 2020[24](index=24&type=chunk) - **Contract liabilities increased by 112,559,059.40 Yuan**, with a corresponding decrease in advances from customers[28](index=28&type=chunk) [2. Parent Company Balance Sheet](index=8&type=section&id=2.%20Parent%20Company%20Balance%20Sheet) As of March 31, 2020, the parent company's total assets were 4.474 billion Yuan, with total liabilities of 1.029 billion Yuan and total equity of 3.445 billion Yuan Key Data from Parent Company Balance Sheet (Mar 31, 2020 vs Dec 31, 2019) | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | | :--- | :--- | :--- | | Total Assets | 4,473,862,379.30 | 4,483,892,008.76 | | Total Current Assets | 2,160,251,422.43 | 2,126,294,495.29 | | Total Non-current Assets | 2,313,610,956.87 | 2,357,597,513.47 | | Total Liabilities | 1,028,864,015.69 | 1,017,392,205.36 | | Total Current Liabilities | 905,836,428.57 | 893,368,758.04 | | Total Non-current Liabilities | 123,027,587.12 | 124,023,447.32 | | Total Equity | 3,444,998,363.61 | 3,466,499,803.40 | - The parent company's **accounts receivable surged** from 86,868.64 Yuan at the end of 2019 to 129,203,475.88 Yuan on March 31, 2020[31](index=31&type=chunk) - The parent company's **contract liabilities increased by 4,193,470.12 Yuan**, with a corresponding decrease in advances from customers[34](index=34&type=chunk) [3. Consolidated Income Statement](index=9&type=section&id=3.%20Consolidated%20Income%20Statement) For Q1 2020, consolidated total operating revenue was 863 million Yuan, a year-over-year decrease of 19.29%, resulting in a net loss attributable to the parent company of 20.60 million Yuan Key Data from Consolidated Income Statement (Q1 2020 vs Q1 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 863,291,826.18 | 1,069,579,320.18 | | Total Operating Costs | 886,178,698.41 | 951,070,429.19 | | Operating Profit | -27,881,590.44 | 118,356,226.27 | | Total Profit | -27,591,386.91 | 119,922,336.22 | | Net Profit | -20,476,596.27 | 90,981,789.21 | | Net Profit Attributable to Parent Company | -20,602,334.41 | 90,878,122.00 | | Basic Earnings Per Share | -0.02 | 0.10 | - **Selling expenses decreased by 67.23%** year-over-year, mainly due to the implementation of the new revenue standard[35](index=35&type=chunk) - **Asset impairment loss was -6,992,626.36 Yuan** in the current period, a significant increase from -2,096,922.75 Yuan in the prior period[39](index=39&type=chunk) [4. Parent Company Income Statement](index=11&type=section&id=4.%20Parent%20Company%20Income%20Statement) For Q1 2020, the parent company's operating revenue was 822 million Yuan, and it recorded a net loss of 22.30 million Yuan, a sharp reversal from a profit in the prior year Key Data from Parent Company Income Statement (Q1 2020 vs Q1 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 821,800,523.16 | 1,032,346,064.75 | | Operating Costs | 801,314,169.43 | 832,036,421.95 | | Operating Profit | -30,673,983.12 | 121,715,093.95 | | Total Profit | -30,383,779.59 | 123,333,562.61 | | Net Profit | -22,301,488.50 | 93,284,343.55 | - The parent company's **selling expenses decreased by approximately 64.6%** year-over-year, while finance costs turned from negative to positive, mainly due to increased interest income[43](index=43&type=chunk) [5. Consolidated Cash Flow Statement](index=12&type=section&id=5.%20Consolidated%20Cash%20Flow%20Statement) For Q1 2020, net cash flow from operating activities was -70.04 million Yuan, a significant decrease from 338 million Yuan in the prior year, primarily due to reduced cash receipts from sales Key Data from Consolidated Cash Flow Statement (Q1 2020 vs Q1 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -70,042,080.62 | 337,639,713.64 | | Net Cash Flow from Investing Activities | -8,414,472.78 | -7,994,204.80 | | Net Cash Flow from Financing Activities | 0 | 0 | | Net Increase in Cash and Cash Equivalents | -78,456,553.40 | 329,645,508.84 | | Cash and Cash Equivalents at End of Period | 817,487,040.01 | 783,636,443.94 | - **Cash received from sales of goods and services decreased** from 756 million Yuan in the prior year period to 388 million Yuan in the current period[47](index=47&type=chunk) - **Cash paid for goods and services increased** from 239 million Yuan in the prior year period to 324 million Yuan in the current period[47](index=47&type=chunk) [6. Parent Company Cash Flow Statement](index=13&type=section&id=6.%20Parent%20Company%20Cash%20Flow%20Statement) For Q1 2020, the parent company's net cash flow from operating activities was -72.04 million Yuan, a sharp decline from 340 million Yuan in the prior year period Key Data from Parent Company Cash Flow Statement (Q1 2020 vs Q1 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -72,044,816.05 | 339,889,805.25 | | Net Cash Flow from Investing Activities | -11,011,316.47 | -1,711,323.77 | | Net Cash Flow from Financing Activities | 0 | 0 | | Net Increase in Cash and Cash Equivalents | -83,056,132.52 | 338,178,481.48 | | Cash and Cash Equivalents at End of Period | 779,356,510.41 | 767,428,005.91 | - The parent company's **cash received from sales of goods and services decreased** from 746 million Yuan in the prior year period to 377 million Yuan in the current period[50](index=50&type=chunk) - The parent company's **cash paid for fixed assets, intangible assets, and other long-term assets** was 517,940.47 Yuan, a decrease from 3,330,707.57 Yuan in the prior period[50](index=50&type=chunk) [II. Explanation of Financial Statement Adjustments](index=14&type=section&id=II.%20Explanation%20of%20Financial%20Statement%20Adjustments) The company adopted the new revenue standard on January 1, 2020, reclassifying advances from customers to contract liabilities without restating prior period comparative data [1. Adjustments to Opening Financial Statements for First-time Adoption of New Standards in 2020](index=14&type=section&id=1.%20Adjustments%20to%20Opening%20Financial%20Statements%20for%20First-time%20Adoption%20of%20New%20Standards%20in%202020) The adoption of the new revenue standard resulted in reclassifications from advances from customers and deferred income to contract liabilities, with no impact on total liabilities Consolidated Balance Sheet Adjustments (Dec 31, 2019 vs Jan 1, 2020) | Item | December 31, 2019 (Yuan) | January 1, 2020 (Yuan) | Adjustment (Yuan) | | :--- | :--- | :--- | :--- | | Advances from Customers | 134,114,769.36 | 75,763,407.10 | -58,351,362.26 | | Contract Liabilities | | 158,933,082.73 | 158,933,082.73 | | Deferred Income | 135,463,868.83 | 34,882,148.36 | -100,581,720.47 | | Total Current Liabilities | 960,955,396.77 | 1,061,537,117.24 | 100,581,720.47 | | Total Non-current Liabilities | 226,508,209.83 | 125,926,489.36 | -100,581,720.47 | | Total Liabilities | 1,187,463,606.60 | 1,187,463,606.60 | 0.00 | Parent Company Balance Sheet Adjustments (Dec 31, 2019 vs Jan 1, 2020) | Item | December 31, 2019 (Yuan) | January 1, 2020 (Yuan) | Adjustment (Yuan) | | :--- | :--- | :--- | :--- | | Advances from Customers | 93,396,385.25 | 75,240,585.47 | -18,155,799.78 | | Contract Liabilities | | 18,155,799.78 | 18,155,799.78 | [2. Explanation of Retrospective Adjustment of Prior Period Comparative Data](index=16&type=section&id=2.%20Explanation%20of%20Retrospective%20Adjustment%20of%20Prior%20Period%20Comparative%20Data) The company applied the new revenue standard from January 1, 2020, and did not retrospectively adjust comparative financial information for prior periods as per transition provisions - The company implemented the new revenue standard on January 1, 2020, and in accordance with the transition provisions, did not restate prior period comparative figures[60](index=60&type=chunk) [III. Audit Report](index=16&type=section&id=III.%20Audit%20Report) The company's first-quarter report for 2020 has not been audited - The company's first-quarter report is unaudited[60](index=60&type=chunk)

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Section%201%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential notices, the table of contents, and key definitions for the report - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this annual report, free from any false records, misleading statements, or material omissions[4](index=4&type=chunk) 2019 Profit Distribution Plan | Distribution Base (shares) | Cash Dividend per 10 Shares (Yuan, tax-inclusive) | Bonus Shares per 10 Shares (shares) | Capitalization from Capital Reserve | | :--- | :--- | :--- | :--- | | 895,091,926 | 0.90 | 0 | No Capitalization | [Company Profile and Key Financial Indicators](index=4&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides the company's basic information, contact details, and core financial data for 2019, highlighting a significant decline in revenue and net profit, with net profit attributable to shareholders decreasing by 72.20%, while operating cash flow increased by 79.27% [Key Accounting Data and Financial Indicators](index=5&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In 2019, the company's operating revenue was 4.621 billion Yuan, a 12.19% decrease year-on-year, and net profit attributable to shareholders significantly dropped by 72.20% to 163 million Yuan, while operating cash flow strongly increased by 79.27% to 587 million Yuan 2019 Key Financial Indicators | Indicator | 2019 | 2018 (Adjusted) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 4,621,274,158.31 | 5,262,654,919.00 | -12.19% | | Net Profit Attributable to Shareholders (Yuan) | 163,041,776.43 | 586,547,071.90 | -72.20% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (Yuan) | 104,167,964.81 | 515,025,075.00 | -79.77% | | Net Cash Flow from Operating Activities (Yuan) | 587,394,506.77 | 327,660,827.35 | 79.27% | | Basic Earnings Per Share (Yuan/share) | 0.18 | 0.66 | -72.73% | | Weighted Average Return on Net Assets | 4.86% | 18.95% | -14.09% | | Total Assets (Yuan) | 4,518,707,608.58 | 4,580,736,486.93 | -1.35% | | Net Assets Attributable to Shareholders (Yuan) | 3,361,317,832.00 | 3,374,293,360.67 | -0.38% | [Quarterly Key Financial Indicators](index=5&type=section&id=VIII.%20Quarterly%20Key%20Financial%20Indicators) The company's 2019 quarterly operating revenue remained relatively stable, but net profit attributable to shareholders showed a declining trend, recording a loss of 81.58 million Yuan in the fourth quarter, while operating cash flow was negative in Q2 but positive in other quarters 2019 Quarterly Financial Indicators (Unit: Yuan) | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,069,579,320.18 | 1,168,794,011.18 | 1,200,079,070.35 | 1,182,821,756.60 | | Net Profit Attributable to Shareholders | 90,878,122.00 | 114,893,196.03 | 38,849,296.90 | -81,578,838.50 | | Net Cash Flow from Operating Activities | 337,639,713.64 | -18,588,980.34 | 130,576,863.47 | 137,766,910.00 | [Non-recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) In 2019, the company's total non-recurring gains and losses amounted to 58.87 million Yuan, primarily from disposal gains of non-current assets (49.33 million Yuan) and reversal of executive incentive funds (42.33 million Yuan), partially offset by non-operating expenses 2019 Non-recurring Gains and Losses Items (Unit: Yuan) | Item | 2019 Amount | | :--- | :--- | | Disposal Gains and Losses of Non-current Assets | 49,328,580.07 | | Government Grants Included in Current Profit/Loss | 4,694,352.32 | | Reversal of Executive Incentive Fund | 42,328,889.22 | | Other Non-operating Income and Expenses, Net | -24,213,621.50 | | **Total** | **58,873,811.62** | [Company Business Overview](index=7&type=section&id=Section%203%20Company%20Business%20Overview) This section outlines the company's main business, significant asset changes, and core competencies, focusing on the production and sale of chemical products like soda ash and bromine, with soda ash as the leading product [Main Businesses Engaged in During the Reporting Period](index=7&type=section&id=I.%20Main%20Businesses%20Engaged%20in%20During%20the%20Reporting%20Period) The company primarily engages in the production and sale of basic chemical raw materials such as soda ash, bromine, calcium chloride, and crude salt, with soda ash being its leading product, widely used in various industries and ranking among the top in production and sales - The company's main business involves the production and sale of products like soda ash, bromine, calcium chloride, and crude salt, with **soda ash** as its core product, ranking among the industry leaders in production and sales[32](index=32&type=chunk) [Analysis of Core Competencies](index=7&type=section&id=III.%20Analysis%20of%20Core%20Competencies) The company's core competencies stem from its abundant brine resources, strong brand reputation for products like "Yuan Du" soda ash, continuous technological innovation, advantageous geographical location, and deepening internal management and corporate culture - The company's core competencies are rooted in **resource advantages, brand recognition, technological innovation, strategic location**, and **corporate culture**, forming a comprehensive competitive edge[34](index=34&type=chunk)[35](index=35&type=chunk) [Management Discussion and Analysis](index=8&type=section&id=Section%204%20Management%20Discussion%20and%20Analysis) This section analyzes the company's 2019 operating performance, detailing revenue and cost structures, expenses, R&D investment, and cash flow, while also discussing industry trends, company strategy, and future risks [Overview](index=8&type=section&id=I.%20Overview) In 2019, affected by macroeconomic conditions and market fluctuations, the company's operating revenue decreased by 12.19% to 4.621 billion Yuan, and net profit attributable to shareholders declined by 72.20% to 163 million Yuan, despite efforts in production management and cost reduction - During the reporting period, the company's **operating revenue** and **net profit** significantly decreased due to market fluctuations, but the company maintained stable production and achieved cost reduction through enhanced internal management[39](index=39&type=chunk)[40](index=40&type=chunk) [Analysis of Main Business](index=8&type=section&id=II.%20Analysis%20of%20Main%20Business) Soda ash revenue accounted for 87.29% of total revenue but saw declines in both revenue and gross margin, while bromine and calcium chloride products experienced significant growth, with sales to top five customers accounting for 31.99% and procurement from top five suppliers, including related parties, at 64.97% 2019 Operating Revenue Composition (by Product) | Product | Revenue (Yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Soda Ash | 4,033,935,308.77 | 87.29% | -14.41% | | Bromine Products | 214,449,512.99 | 4.64% | 28.80% | | Calcium Chloride | 156,725,556.50 | 3.39% | 42.97% | 2019 Main Product Gross Margin | Product | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | Gross Margin Change from Previous Year | | :--- | :--- | :--- | :--- | | Soda Ash | 4,033,935,308.77 | 3,577,205,833.88 | 11.32% | -6.57% | | Bromine Products | 214,449,512.99 | 98,253,476.97 | 54.18% | -6.55% | - The inventory of chemical products increased by **126.17%** year-on-year during the reporting period, primarily due to an increase in **soda ash** inventory[44](index=44&type=chunk)[47](index=47&type=chunk) - The top five customers accounted for **31.99%** of total annual sales, with related party sales at **5.64%**, while the top five suppliers accounted for **64.97%** of total annual procurement, with related party procurement as high as **51.95%**, indicating significant reliance on the controlling shareholder Shandong Haihua Group and its subsidiaries for procurement[50](index=50&type=chunk)[51](index=51&type=chunk)[54](index=54&type=chunk) [Expenses](index=11&type=section&id=III.%20Expenses) During the reporting period, the company's three major expenses (selling, general and administrative, and financial) all decreased, with management expenses down 20.42% due to the reversal of executive incentive funds, and financial expenses significantly down 168.65% due to increased interest income 2019 Period Expense Changes (Unit: Yuan) | Expense Item | 2019 | 2018 | Year-on-Year Change | Main Change Explanation | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 155,836,347.47 | 162,970,082.17 | -4.38% | - | | General and Administrative Expenses | 163,564,088.78 | 205,545,037.89 | -20.42% | Primarily due to the reversal of executive incentive funds accrued in previous years | | Financial Expenses | -3,920,849.88 | 5,710,977.13 | -168.65% | Primarily due to an increase in interest income during the current period | [Research and Development Investment](index=11&type=section&id=IV.%20Research%20and%20Development%20Investment) In 2019, the company invested 10.25 million Yuan in R&D, accounting for 0.22% of operating revenue, focusing on seawater resource utilization, technology upgrades, and energy saving, with 8.96 million Yuan (87.44%) capitalized 2019 R&D Investment | Indicator | 2019 | 2018 | | :--- | :--- | :--- | | R&D Investment Amount (Yuan) | 10,247,225.98 | 0 | | R&D Investment as % of Operating Revenue | 0.22% | 0% | | Capitalized R&D Investment Amount (Yuan) | 8,959,794.38 | 0 | | Capitalized R&D Investment as % of Total R&D Investment | 87.44% | 0% | [Cash Flow Analysis](index=12&type=section&id=V.%20Cash%20Flow%20Analysis) The company's cash flow significantly improved in 2019, with net cash flow from operating activities increasing by 79.27% due to reduced payments for goods and services, and net cash flow from investing activities turning positive with a 239.05% increase due to reduced payments for long-term asset acquisition, while financing cash flow decreased by 300% due to increased dividend distribution 2019 Cash Flow Statement Key Items (Unit: Yuan) | Item | 2019 | 2018 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 587,394,506.77 | 327,660,827.35 | 79.27% | | Net Cash Flow from Investing Activities | 33,576,536.74 | -24,147,225.99 | 239.05% | | Net Cash Flow from Financing Activities | -179,018,385.20 | -44,754,596.30 | -300.00% | | Net Increase in Cash and Cash Equivalents | 441,952,658.31 | 258,759,005.06 | 70.80% | [Outlook on Company's Future Development](index=14&type=section&id=IX.%20Outlook%20on%20Company%27s%20Future%20Development) The company anticipates continued overcapacity and intense competition in the soda ash industry in 2020, and plans to strengthen its core salt chemical business through reform and refined management to become a leading listed company, while identifying and addressing risks related to macroeconomic fluctuations, safety, environmental protection, and internal management - Industry Trend: The **overcapacity** in the soda ash industry is expected to persist in 2020, leading to continued intense market competition[73](index=73&type=chunk) - Company Strategy: The company is committed to strengthening its **core salt chemical business**, aiming to become a leading enterprise characterized by **refined management, excellent performance, and stable operations**[76](index=76&type=chunk) - Key Risks: The company faces risks from **macroeconomic fluctuations, production safety, stricter environmental policies**, and **internal management**, with corresponding mitigation strategies in place[80](index=80&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk) [Significant Events](index=16&type=section&id=Section%205%20Significant%20Events) This section covers the company's profit distribution, accounting policy changes, significant related party transactions, social responsibility, and environmental performance, including a proposed cash dividend of 0.90 Yuan per 10 shares for 2019 and the adoption of new financial instrument accounting standards [Profit Distribution of Ordinary Shares and Capitalization from Capital Reserve](index=16&type=section&id=I.%20Profit%20Distribution%20of%20Ordinary%20Shares%20and%20Capitalization%20from%20Capital%20Reserve) The company has consistently distributed cash dividends over the past three years, with the 2019 proposed plan to distribute 0.90 Yuan (tax-inclusive) per 10 shares based on a total share capital of 895 million shares, totaling 80.56 million Yuan, representing 49.41% of net profit attributable to shareholders Cash Dividend Distribution Over the Past Three Years (Unit: Yuan) | Dividend Year | Cash Dividend Amount (tax-inclusive) | Ratio to Net Profit Attributable to Shareholders | | :--- | :--- | :--- | | 2019 | 80,558,273.34 | 49.41% | | 2018 | 179,018,385.20 | 30.52% | | 2017 | 44,754,596.30 | 6.53% | [Significant Related Party Transactions](index=19&type=section&id=XVI.%20Significant%20Related%20Party%20Transactions) In 2019, the company's daily related party transactions primarily involved procuring production materials like water, electricity, and steam from its controlling shareholder, Shandong Haihua Group, and selling products such as high-temperature hot water and soda ash to it, with procurement from Haihua Group reaching 2.075 billion Yuan, accounting for 90.85% of similar transactions - The company has **large-scale daily related party transactions** with its controlling shareholder, Shandong Haihua Group Co., Ltd., primarily involving the procurement of production materials such as water, electricity, and steam, with procurement amounting to **2.075 billion Yuan** in 2019[100](index=100&type=chunk) [Social Responsibility](index=21&type=section&id=XVIII.%20Social%20Responsibility) The company prioritizes social responsibility, investing in investor relations, employee welfare, supply chain cooperation, and environmental protection, and as a key polluting entity, it has disclosed pollutant emissions and prevention facilities, confirming compliance with all emission standards - The company and its subsidiaries (Soda Ash Plant, Shengxing Thermal Power) are designated as **key polluting entities**, have developed and filed emergency response plans for environmental incidents, and conducted self-monitoring as required, with **no instances of exceeding emission standards** during the reporting period[121](index=121&type=chunk)[124](index=124&type=chunk) [Share Changes and Shareholder Information](index=23&type=section&id=Section%206%20Share%20Changes%20and%20Shareholder%20Information) This section details the company's share capital structure, number of shareholders, and major shareholder holdings, indicating no changes in total share capital during the reporting period, with Shandong Haihua Group Co., Ltd. as the controlling shareholder (40.34%) and China National Offshore Oil Corporation as the ultimate actual controller [Share Change Status](index=23&type=section&id=I.%20Share%20Change%20Status) During the reporting period, the company's total share capital and share structure remained unchanged, with a total of 895,091,926 shares, all being unrestricted RMB ordinary shares - The company's **total share capital remained stable** during the reporting period at **895,091,926 shares**, all of which are unrestricted shares[131](index=131&type=chunk) [Shareholders and Actual Controller Information](index=23&type=section&id=III.%20Shareholders%20and%20Actual%20Controller%20Information) As of the end of 2019, the company had 67,414 shareholders, with Shandong Haihua Group Co., Ltd. as the controlling shareholder holding 40.34%, and China National Offshore Oil Group Co., Ltd., under the central SASAC, as the ultimate actual controller Top Two Shareholders' Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Shandong Haihua Group Co., Ltd. | State-owned Legal Person | 40.34% | 361,048,878 | | UBS AG | Overseas Legal Person | 2.12% | 18,961,145 | - The company's controlling shareholder is **Shandong Haihua Group Co., Ltd.**, and the ultimate actual controller is **China National Offshore Oil Group Co., Ltd.**[140](index=140&type=chunk)[141](index=141&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=26&type=section&id=Section%209%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This section provides details on the background, appointments, and compensation of the company's directors, supervisors, and senior management, along with statistics on employee numbers, professional composition, and education levels, noting the departure of Vice General Manager Wang Zhaojie due to work changes [Compensation of Directors, Supervisors, and Senior Management](index=29&type=section&id=IV.%20Compensation%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) The company's directors, supervisors, and senior management are compensated on an annual salary basis, determined by the Board's Remuneration and Assessment Committee based on performance, with a total pre-tax compensation of 2.3256 million Yuan received from the company in the reporting period, while some serving in shareholder units do not receive compensation from the listed company - In 2019, the total pre-tax compensation received by the company's **directors, supervisors, and senior management** from the company amounted to **2.3256 million Yuan**[163](index=163&type=chunk) [Employee Information](index=30&type=section&id=V.%20Employee%20Information) As of the end of the reporting period, the company had 4,731 employees, with production personnel accounting for the largest proportion at 3,851, and 1,167 employees holding college degrees or above, with the company implementing a position-skill-salary point system and detailed training plans Employee Professional Composition | Professional Category | Number of People | | :--- | :--- | | Production Personnel | 3,851 | | Sales Personnel | 65 | | Technical Personnel | 334 | | Financial Personnel | 68 | | Administrative Personnel | 413 | | **Total** | **4,731** | [Corporate Governance](index=31&type=section&id=Section%2010%20Corporate%20Governance) This section describes the company's governance structure and internal controls, affirming its compliance with relevant laws and regulations, independent operation from the controlling shareholder in all key aspects, and no material weaknesses found in internal control self-assessment or audit reports [Company's Independence from Controlling Shareholder in Business, Personnel, Assets, Organizations, and Finance](index=31&type=section&id=II.%20Company%27s%20Independence%20from%20Controlling%20Shareholder%20in%20Business%2C%20Personnel%2C%20Assets%2C%20Organizations%2C%20and%20Finance) The company maintains complete independence from its controlling shareholder in business, personnel, assets, organization, and finance, possessing independent supply, production, and sales systems, and full autonomy in its operations - The company maintains **independence** in its **business, personnel, assets, organization, and financial** aspects, demonstrating autonomous operational capabilities[171](index=171&type=chunk)[172](index=172&type=chunk) [Internal Control Status](index=33&type=section&id=IX.%20Internal%20Control%20Status) The company conducted an internal control self-assessment, and Grant Thornton Certified Public Accountants issued an internal control audit report, both concluding that the company maintained effective internal controls over financial reporting in all material respects as of December 31, 2019, with no material weaknesses identified in financial or non-financial reporting - The company's **internal control evaluation** and **audit results** received standard unqualified opinions, indicating **no material weaknesses** in financial or non-financial reporting[186](index=186&type=chunk)[190](index=190&type=chunk) [Financial Report](index=34&type=section&id=Section%2012%20Financial%20Report) This section includes the standard unqualified audit report from Grant Thornton Certified Public Accountants (Special General Partnership), the company's 2019 consolidated and parent company financial statements, and detailed notes, with key audit matters being soda ash revenue recognition and the accounting treatment of the slag field collapse incident, and notes detailing accounting policies, especially the first-time adoption of new financial instrument standards [Audit Report](index=34&type=section&id=I.%20Audit%20Report) Grant Thornton Certified Public Accountants issued a standard unqualified audit opinion on the company's 2019 financial statements, affirming their fair presentation of the company's financial position and operating results, with key audit matters including soda ash revenue recognition and the accounting treatment of the 2016 slag field collapse incident - The auditing firm is **Grant Thornton Certified Public Accountants (Special General Partnership)**, which issued a **standard unqualified audit opinion**[194](index=194&type=chunk)[197](index=197&type=chunk) - Key audit matters include **revenue recognition for soda ash products** and the **accounting treatment of the slag field collapse incident**[199](index=199&type=chunk)[201](index=201&type=chunk)[207](index=207&type=chunk) [Financial Statements](index=39&type=section&id=II.%20Financial%20Statements) This section presents the company's 2019 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, showing a slight contraction in total assets, a decrease in total liabilities, stable owners' equity, declining revenue and profit, and improved operating cash flow Consolidated Balance Sheet Summary (Unit: Yuan) | Item | 2019-12-31 | 2018-12-31 | | :--- | :--- | :--- | | Total Assets | 4,518,707,608.58 | 4,580,736,486.93 | | Total Liabilities | 1,187,463,606.60 | 1,237,046,601.31 | | Total Owners' Equity | 3,331,244,001.98 | 3,343,689,885.62 | Consolidated Income Statement Summary (Unit: Yuan) | Item | 2019 Annual | 2018 Annual | | :--- | :--- | :--- | | Total Operating Revenue | 4,621,274,158.31 | 5,262,654,919.00 | | Operating Profit | 240,293,632.77 | 609,011,997.05 | | Total Profit | 216,650,785.35 | 618,201,262.18 | | Net Profit | 163,571,421.46 | 586,933,496.55 | [Significant Accounting Policies and Accounting Estimates Changes](index=75&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates%20Changes) The most significant accounting policy change in the reporting period was the adoption of new financial instrument accounting standards from January 1, 2019, which altered financial asset classification and measurement, particularly changing impairment from "incurred loss model" to "expected credit loss model," leading to retrospective adjustments affecting items like "Notes Receivable" and "Financial Assets Held for Sale" - The company adopted new financial instrument standards from **January 1, 2019**, changing financial asset impairment accounting from the **"incurred loss model"** to the **"expected credit loss model"**[440](index=440&type=chunk) Impact of New Financial Instrument Standards on Opening Consolidated Balance Sheet (Unit: Yuan) | Item | Before Adjustment (2018-12-31) | After Adjustment (2019-01-01) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Notes Receivable | 1,197,499,094.77 | 0 | -1,197,499,094.77 | | Receivables Financing | 0 | 1,197,499,094.77 | 1,197,499,094.77 | | Financial Assets Held for Sale | 11,440,000.00 | 0 | -11,440,000.00 | | Other Equity Instrument Investments | 0 | 11,440,000.00 | 11,440,000.00 | | Other Comprehensive Income | 0 | -11,370,000.00 | -11,370,000.00 | | Retained Earnings | 572,271,793.88 | 583,641,793.88 | 11,370,000.00 |

山东海化股份有限公司 2019 年第三季度报告全文 山东海化股份有限公司 2019 年第三季度报告 2019 年 10 月 1 山东海化股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人方勇、主管会计工作负责人魏鲁东及会计机构负责人(会计主管人员)张明声 明：保证季度报告中财务报表的真实、准确、完整。 第二节 公司基本情况 一、主要会计数据和财务指标 | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|-------------------------|---------|------------------|-------------------------------| | 公司是否需追溯调整或重述以前年度会计数据 | ...

山东海化股份有限公司 2019 年半年度报告 2019 年 08 月 山东海化股份有限公司 2019 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责 任。 公司负责人方勇、主管会计工作负责人魏鲁东及会计机构负责人(会计主管人员) 张明声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本半年报涉及的未来计划等前瞻性陈述，不构成公司对投资者的实质性承诺，请 投资者注意风险。 《中国证券报》、《证券时报》和巨潮资讯网（www.cninfo.com.cn）为本公司 指定的信息披露媒体，本公司相关信息均以在上述媒体刊登的信息为准，敬请投资者 注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 山东海化股份有限公司 2019 年半年度报告全文 目 录 | --- | |--------------------------------------------------------------------- ...

山东海化股份有限公司 2019 年第一季度报告全文 山东海化股份有限公司 2019 年第一季度报告 1 2019 年 04 月 山东海化股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人方勇、主管会计工作负责人魏鲁东及会计机构负责人(会计主管人员)张明声 明：保证季度报告中财务报表的真实、准确、完整。 第二节 公司基本情况 一、主要会计数据和财务指标 | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|------------------|---------------------------| | 公司是否需追溯调整或重述以前年度会计数据 □ | 是 √ \n本报告期 | 否 \n上年同期 | 本报告期比上年同 期增减 | | 营业收入（元） ...

山东海化股份有限公司 2018 年年度报告 2019 年 04 月 cninf = www.cninfo.com.cn 山东海化股份有限公司 2018 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人方勇、主管会计工作负责人魏鲁东及会计机构负责人(会计主管人员) 张明声 明：保证年度报告中财务报告的真实、准确、完整。 公司所有董事均已出席了审议本报告的董事会会议。 本年度报告涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质性承 诺，请投资者注意投资风险。 公司经本次董事会审议通过的利润分配预案为：以 2018 年底总股本 895,091,926 股为基 数，向全体股东每 10 股派发现金红利 2.00 元(含税)，共分配现金 179,018,385.20 元；不 以公积金转增股本。 2 山东海化股份有限公司 2018 年年度报告全文 释 日 录 | --- | --- | |--------------------------------- ...

山东海化股份有限公司 2018 年第三季度报告正文 证券代码：000822 证券简称：山东海化 公告编号：2018-030 山东海化股份有限公司 2018 年第三季度报告正文 第一节 重要提示 除下列董事外，其他董事亲自出席了审议本报告的董事会会议。 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | | | 被委托人姓名 | | --- | --- | --- | --- | --- | --- | | 康华华 | 董 事 | 出 | 因 公 | 差 | 余建华 | 公司负责人方勇、主管会计工作负责人魏鲁东及会计机构负责人(会计主管人员)张明声明：保证季度 报告中财务报表的真实、准确、完整。 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资产（元） | 4,413,471,470.39 | | 4,308,536,891.27 | 2.44% | | 归属于 ...

Financial Performance - The company's operating revenue for the reporting period was ¥2,562,670,823.75, representing a 15.11% increase compared to ¥2,226,225,364.95 in the same period last year[13]. - Net profit attributable to shareholders was ¥356,908,648.09, up 5.83% from ¥337,259,482.49 year-on-year[13]. - The net profit after deducting non-recurring gains and losses decreased by 7.51% to ¥312,411,069.20 from ¥337,766,033.31 in the previous year[13]. - Operating costs increased by 18.90% to CNY 2,030,312,425.08, reflecting higher raw material and energy costs[25]. - The gross profit margin for chemical products was 21.11%, down 3.38% from the previous year[27]. - The company reported a significant increase in income tax expenses, up 796.10% to CNY 25,076,110.46, mainly due to changes in deferred tax assets[26]. - The company achieved operating revenue of CNY 2,562,670,823.75, a year-on-year increase of 15.11%[25]. - Net profit attributable to the parent company was CNY 35,690,860, representing a growth of 5.83% compared to the same period last year[23]. - The company reported a significant asset disposal gain of CNY 33,587,047.26, compared to a loss of CNY 1,794,418.91 in the previous period[76]. - The total comprehensive income for the current period was CNY 357,061,165.12, up from CNY 337,451,639.42 in the previous period[76]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥22,488,387.00, a decline of 117.72% compared to ¥126,945,447.70 in the same period last year[13]. - Cash and cash equivalents decreased from CNY 212,510,712.10 to CNY 172,279,044.96, a decline of about 18.93%[71]. - Cash flow from operating activities was CNY 1,284,091,425.32, an increase from CNY 1,205,565,237.96 in the previous period[80]. - The company's cash and cash equivalents at the end of the period totaled ¥172,279,044.96, a decrease from ¥212,510,712.10 at the beginning of the period, representing a decline of approximately 19%[167]. - The company’s cash and cash equivalents decreased by 138.62% to a net outflow of CNY 43,740,626.43, primarily due to increased cash payments for raw materials and dividend distributions[26]. - Cash outflow for purchasing goods and services was CNY 817,330,720.10, up from CNY 492,451,354.41, indicating a rise of about 66%[83]. - The total cash outflow from financing activities was CNY 44,754,596.30, with no cash inflow recorded during the period[83]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,184,279,511.65, down 2.88% from ¥4,308,536,891.27 at the end of the previous year[13]. - The company's total liabilities decreased from CNY 1,507,241,044.77 to CNY 1,069,551,961.40, representing a reduction of about 29.1%[72]. - The total equity attributable to shareholders increased from CNY 2,832,285,746.20 to CNY 3,145,564,932.92, marking an increase of approximately 11.04%[72]. - The company’s fixed assets amounted to CNY 1,650,293,719.30, accounting for 39.44% of total assets[28]. - The total equity at the end of the reporting period is CNY 3,245,367,823.45, which includes CNY 895,091,926.00 in share capital and CNY 1,632,268,589.26 in capital reserves[92]. Accounts Receivable and Inventory - Accounts receivable increased by 114.74%, primarily due to an increase in sales on credit during the reporting period[20]. - The accounts receivable balance at the end of the period was ¥252,766,614.86, with a bad debt provision of ¥46,082,423.87, indicating a provision ratio of 18.23%[179]. - The company reported a significant recovery of bad debt provisions amounting to ¥14,244,159.24 during the period, primarily from settlements with two major clients[184]. - Inventory levels decreased from CNY 443,180,484.02 to CNY 325,254,217.85, a reduction of about 26.67%[71]. Strategic Focus and Future Plans - The company continues to focus on the production and sales of key products such as soda ash, bromine, calcium chloride, and raw salt, maintaining a leading position in the industry[19]. - The company plans to enhance its competitive edge by optimizing resource allocation and expanding its product chain, leveraging its abundant underground brine resources[20]. - The company plans to enhance its production efficiency and reduce costs to maintain competitive advantages amid industry overcapacity[31]. - Environmental regulations are expected to increase expenditures on pollution control, prompting the company to invest more in environmental protection measures[32]. Shareholder Information - The total number of unrestricted shares is 895,091,926, representing 100% of the total shares[58]. - The largest shareholder, Shandong Haihua Group, holds 40.34% of the shares, totaling 361,048,878 shares[61]. - The report indicates no changes in the controlling shareholder or actual controller during the reporting period[63]. - The total number of shareholders at the end of the reporting period is 74,488[61]. Compliance and Governance - The financial report for the half-year has not been audited[36]. - There were no significant legal disputes or arbitration matters reported during the period[38]. - The company has not undergone any bankruptcy restructuring during the reporting period[37]. - The company has no plans to distribute cash dividends or issue bonus shares for the half-year period[35]. Accounting Policies and Practices - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[98]. - The company has no significant changes in accounting policies or estimates during the reporting period[168]. - The company recognizes revenue from sales when the significant risks and rewards of ownership have been transferred to the buyer, and the amount can be reliably measured[156]. - The company applies fair value measurement techniques for financial assets and liabilities, prioritizing observable inputs when available[122].

山东海化股份有限公司 2018 年第一季度报告正文 证券代码：000822 证券简称：山东海化 公告编号：2018-022 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | | 上年同期 | | 本报告期比上年同期 | | --- | --- | --- | --- | --- | --- | | | | | | | 增减 | | 营业收入（元） | 1,215,083,365.16 | | 1,103,200,759.98 | | 10.14% | | 归属于上市公司股东的净利润（元） | 141,975,829.75 | | 275,698,753.59 | | -48.50% | | 归属于上市公司股东的扣除非经常 性损益的净利润（元） | 98,285,422.79 | | 274,762,018.57 | | -64.23% | | 经营活动产生的现金流量净额（元） | 61,871,778.97 | | -9,645,012.43 | | 741.49% | | 基本每股收益（元/股） | 0.16 | | 0.31 ...