1 广西粤桂广业控股股份有限公司 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。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 广西粤桂广业控股股份有限公司 2019 年第三季度报告全文 广西粤桂广业控股股份有限公司 2019 年第三季度报告 2019 年 10 月 √ 适用 □ 不适用 | 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 | | --- | --- | --- | --- | | 黄祥清 | 董事长 | 出差 | 朱冰 | 公司负责人黄祥清、主管会计工作负责人庄学武及会计机构负责人(会计主 管人员)梁鸿斌声明：保证季度报告中财务报表的真实、准确、完整。 2 广西粤桂广业控股股份有限公司 2019 年第三季度报告全文 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 | ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,381,191,271.59, representing a 5.96% increase compared to CNY 1,303,462,897.18 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 34.89% to CNY 46,528,941.19 from CNY 71,458,500.94 year-on-year[17]. - Basic earnings per share fell by 34.89% to CNY 0.0696 from CNY 0.1069 in the same period last year[17]. - The total operating costs increased to CNY 1,352,205,561.63, up 11.6% from CNY 1,211,414,977.05 year-on-year[143]. - The total comprehensive income for the first half of 2019 was CNY 25,847,686.86, a decrease of 17.3% compared to CNY 31,271,967.55 in the same period of 2018[148]. - The company reported a significant increase in sales revenue from goods and services, amounting to CNY 1,642,211,717.03, up from CNY 1,498,492,435.43 in the previous year, reflecting a growth of approximately 9.6%[149]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -158,498,964.91, a decline of 283.81% compared to CNY -41,296,663.02 in the previous year[17]. - The company experienced a significant decrease in cash and cash equivalents, totaling -RMB 248.16 million, a decline of 760.19% year-on-year[38]. - The total cash and cash equivalents at the end of the period stood at CNY 964,421,554.85, compared to CNY 794,355,522.93 at the end of the first half of 2018[152]. - The cash flow from operating activities showed a net outflow of CNY 158,498,964.91, compared to a net outflow of CNY 41,296,663.02 in the previous year, indicating a significant decline in operational cash flow[151]. - The total cash inflow from financing activities amounted to 134,782,000.00 CNY, while cash outflow for financing activities was 241,000,024.77 CNY, resulting in a net cash flow of -106,218,024.77 CNY[154]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,948,794,561.51, a decrease of 1.14% from CNY 3,994,265,404.60 at the end of the previous year[18]. - The total liabilities decreased to CNY 1,192,566,366.02 from CNY 1,268,804,627.75, a reduction of 6.0%[138]. - The company's total equity increased to CNY 2,756,228,195.49 from CNY 2,725,460,776.85, reflecting a growth of 1.14%[138]. - The total number of shares remains at 668,401,851, with no significant changes in shareholding structure reported[116]. - The total liabilities at the end of the first half of 2019 were approximately 1,571 million yuan, indicating a stable financial position[163]. Production and Operations - In the 2018/2019 sugar season, the company processed 848,900 tons of sugarcane, a year-on-year increase of 14.44% compared to 741,800 tons in the previous season[31]. - The total sugar production for the 2018/2019 season was 95,000 tons, reflecting a year-on-year increase of 2.96% from 84,100 tons[31]. - The company continues to implement strategies to stabilize sales and control costs, including a market-based pricing mechanism[31]. - The company is actively advancing the construction of industrial park projects and the overall relocation and renovation of its facilities[31]. - The company has completed the injection of sugar and paper assets into the Guizhou Sugar Group[31]. Research and Development - The company increased its R&D investment by 35.84% year-on-year, totaling RMB 13.29 million, reflecting a focus on enhancing innovation[38]. - Research and development expenses rose to CNY 13,288,892.59, an increase of 35.5% compared to CNY 9,783,052.52 in the previous year[143]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[87]. - The company achieved compliance with emission standards for sulfur dioxide, nitrogen oxides, and particulate matter[87]. - The total annual emissions for sulfur dioxide were 114.2 tons, nitrogen oxides were 118.8 tons, and particulate matter was 11.3 tons[87]. - The wastewater treatment facility has a processing capacity of 40,000 tons/day, ensuring that pollutant emissions remain within the approved limits[90]. - The company’s environmental monitoring systems are operational, providing 24-hour monitoring of pollutant emissions at key discharge points[90]. Corporate Governance and Compliance - The company has committed to maintaining independence and avoiding competition with related parties, with ongoing compliance since December 6, 2011[65]. - The company has ongoing commitments to reduce and regulate related party transactions, ensuring fair market pricing and avoiding conflicts of interest[66]. - The company guarantees the accuracy and completeness of information disclosed in restructuring reports and related documents, with ongoing compliance since February 1, 2015[66]. - The company has no major litigation or arbitration matters during the reporting period[70]. - The company has not undergone any bankruptcy reorganization during the reporting period[69]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[41]. - The company is exploring potential mergers and acquisitions to strengthen its market position and drive growth[157]. - The company plans to enhance sugar production capacity and product quality through modernization and advanced processes to mitigate risks associated with raw material sourcing and cost increases[57]. - The company aims to optimize its product structure by prioritizing profitable products and adjusting production strategies to improve overall efficiency and competitiveness[59].

证券代码：000833 证券简称：粤桂股份 公告编号：2019–028 广西粤桂广业控股股份有限公司 关于参加投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，广西粤桂广业控股股份有限 公司（以下简称"公司"）将参加由广西上市公司协会、上证所信息 网络有限公司、深圳市全景网络有限公司共同举办的"2019 年广西 地区上市公司投资者网上集体接待日活动"，现将有关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互 联网平台举行，投资者可以登陆"全景·路演天下"网站（http： //rs.p5w.net）或关注微信公众号：全景网路演天下（qj_lytx）, 参与公司本次投资者集体接待日活动，活动时间为 2019 年 5 月 28 日 （星期二）14:00 至 17:00。 届时公司总经理方健宁、财务负责人庄学武、董事会秘书赖炽森 将通过网络在线问答互动的形式，与投资者就公司治理、发展经营情 况、融资情况和可持续发展等投资者关注的问题进行交流。期间，公 司高管将全程在线，通过全景网投资者 ...

Financial Performance - The company's operating revenue for Q1 2019 was ¥574,791,509.87, representing a 6.66% increase compared to ¥538,923,550.00 in the same period last year[8]. - The net profit attributable to shareholders decreased significantly by 83.39% to ¥5,201,886.99 from ¥31,325,500.11 year-on-year[8]. - The net profit after deducting non-recurring gains and losses dropped by 99.75% to ¥75,104.14 compared to ¥29,839,527.18 in the previous year[8]. - Basic and diluted earnings per share fell by 83.37% to ¥0.0078 from ¥0.0469 year-on-year[8]. - The weighted average return on equity decreased to 0.19% from 1.18% in the previous year[8]. - The company reported a net profit margin improvement, with net profit for the period reflecting a positive trend compared to the previous year, although specific figures were not disclosed in the provided data[38]. - The net profit for the first quarter was CNY 3,512,168.80, significantly lower than CNY 30,370,059.05 in the same period last year, representing a decline of approximately 88.4%[41]. - The total profit for the first quarter was CNY 7,552,816.03, down from CNY 41,051,415.12 in the previous year, indicating a decrease of about 81.6%[41]. - The company experienced an operating profit of CNY 7,472,327.32, a significant drop from CNY 40,983,909.82 in the previous year, representing a decrease of about 81.8%[41]. Cash Flow - The net cash flow from operating activities was negative at -¥111,544,392.52, an improvement of 46.38% from -¥208,041,385.79 in the same period last year[8]. - The company reported a cash inflow from operating activities of CNY 685,599,282.40, compared to CNY 583,878,726.40 in the previous period, indicating an increase of approximately 17.4%[47]. - The net cash flow from operating activities was -111,544,392.52, an improvement from -208,041,385.79 in the previous period, indicating a reduction in cash outflow[49]. - Cash flow from financing activities resulted in a net outflow of -101,546,575.44, a decrease from a net inflow of 159,911,445.98 in the previous period[50]. - The cash flow from operating activities showed a total outflow of 814,051,316.05, compared to 821,728,396.28 in the previous period, indicating a slight improvement[49]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,058,182,307.57, a 1.60% increase from ¥3,994,265,404.60 at the end of the previous year[8]. - The net assets attributable to shareholders increased slightly by 0.19% to ¥2,735,871,345.65 from ¥2,730,553,641.18 at the end of the previous year[8]. - Total liabilities increased to CNY 1,329,093,544.45 in Q1 2019 from CNY 1,268,804,627.75, marking an increase of approximately 4.8%[32]. - Total current assets amounted to CNY 1,959,197,619.06 as of December 31, 2018[56]. - Total non-current assets reached CNY 2,035,067,785.54, leading to total assets of CNY 3,994,265,404.60[56]. - The company's total liabilities and owner's equity matched the total assets at CNY 3,994,265,404.60[57]. Inventory and Receivables - Accounts receivable decreased by 14.78% compared to the beginning of the year, primarily due to a reduction in the settlement amount of accounts receivable from Yun Sulfide Mining[17]. - Inventory increased by 114.62% compared to the beginning of the year, mainly due to an increase in the stock of refined sugar and paper raw materials[17]. - Inventory levels surged to CNY 448,060,753.07, compared to CNY 158,579,277.05 in the previous period, representing an increase of approximately 182.5%[35]. Research and Development - R&D expenses increased by 81.99% year-on-year, indicating a significant rise in research and development investment[17]. - Research and development expenses rose to CNY 6,504,245.58 in Q1 2019, compared to CNY 3,573,982.09 in the previous period, reflecting an increase of approximately 82.5%[38]. - Research and development expenses increased to CNY 1,210,949.97 from CNY 126,407.19, reflecting a growth of approximately 858.5%[44]. Investment Activities - The company reported non-operating income from government subsidies amounting to ¥5,476,568.44 during the reporting period[9]. - Total cash inflow from investment activities amounted to 501,207,549.74, significantly higher than 20,206.06 in the previous period[49]. - The net cash flow from investment activities was 70,598,307.01, compared to -80,965,224.59 in the previous period, showing a positive turnaround[49]. - The company received 500,019,704.92 in cash from investment recoveries, indicating strong investment recovery efforts[52]. Financial Position - The total equity attributable to shareholders of the parent company was CNY 2,734,296,425.17, slightly up from CNY 2,730,553,641.18, indicating a marginal increase[32]. - Cash and cash equivalents decreased to CNY 287,532,250.04 from CNY 368,326,927.32, a decline of about 22%[34]. - The total comprehensive income attributable to the parent company was CNY 5,201,886.99, down from CNY 31,325,500.11, a decline of approximately 83.4%[41]. Other Financial Information - The company implemented new financial instrument accounting standards on January 1, 2019, resulting in reclassification of certain financial assets[62]. - The first quarter report for 2019 was not audited, indicating preliminary financial data[63].

Financial Performance - The company's operating revenue for 2018 was CNY 3,168,174,565.13, representing a 60.55% increase compared to CNY 1,907,370,590.83 in 2017[19]. - Net profit attributable to shareholders was CNY 88,476,007.49, a 3.86% increase from CNY 79,766,204.56 in the previous year[19]. - The net cash flow from operating activities reached CNY 282,057,034.94, a significant increase of 1,103.23% compared to a negative cash flow of CNY -2,826,893.35 in 2017[19]. - Total assets at the end of 2018 amounted to CNY 3,994,265,404.60, reflecting a 12.28% increase from CNY 3,380,565,116.33 at the end of 2017[19]. - The basic earnings per share for 2018 was CNY 0.1324, up 3.84% from CNY 0.1193 in 2017[19]. - The company reported a total of 668,401,851 shares outstanding as of the last trading day before the disclosure[19]. - The company's total operating revenue for 2018 was ¥3,168,174,565.13, representing a 60.55% increase from ¥1,973,288,908.51 in 2017[58]. - The trade sugar segment saw a remarkable growth of 307.56%, with revenue reaching ¥1,447,211,466.01, up from ¥355,087,854.97 in the previous year[58]. - The mining sector generated ¥499,908,797.82 in revenue, reflecting a 14.01% increase compared to ¥438,491,633.52 in 2017[58]. - The company achieved a production completion rate of 98.15% for mechanism sugar and 108.42% for pulp in 2018, indicating strong operational performance[111]. Business Operations - The company’s main business includes the mining, processing, and sales of sulfur iron ore, along with the production of sulfuric acid and phosphate fertilizers[16]. - The main business activities include the production and sale of mechanism sugar, pulp, and mechanism paper, as well as the mining and processing of sulfur iron ore and the production of sulfuric acid and phosphate fertilizers[27]. - The company decided not to commence sugar production for the 2018/2019 season due to high raw material prices and continued low market sugar prices, which could lead to substantial losses[28]. - The company aims to enhance the quality of sugarcane and expand planting areas to secure raw material supply and improve production efficiency[31]. - The company’s sugar production is seasonal, occurring from November to March each year, with sales primarily targeting food processing factories and supermarkets[29]. - The company has established a complete circular economy industrial chain, achieving over 97% utilization of waste materials[42]. - The company is focused on improving its product offerings and operational management to drive future growth[155]. Shareholder Information - The company reported a cash dividend of 0.15 RMB per 10 shares, based on a total of 668,401,851 shares[5]. - The largest shareholder, Yunfu Guangye Sulfur Iron Mine Group Co., Ltd., holds 31.31% of shares, totaling 209,261,113 shares[192]. - The second largest shareholder, Guangdong Guangye Group Co., Ltd., holds 12.13% of shares, totaling 81,051,861 shares[192]. - The third largest shareholder, Guangxi Guangye Yuegui Investment Group Co., Ltd., holds 11.34% of shares, totaling 75,800,000 shares[192]. - The total number of shares held by the top three shareholders accounts for 54.78% of the total shares[192]. Investment and Financing - The company invested CNY 135.85 million in project construction and technological upgrades in 2018, with total investments reaching CNY 200.15 million[53]. - The company’s fixed assets decreased by 6.20% compared to the beginning of the period, while cash and cash equivalents increased by 48.86% due to increased financing borrowings[40]. - Short-term borrowings increased by 293.75%, primarily due to increased payments for goods and investments in the relocation and technical transformation project[41]. - The company’s long-term borrowings increased by 100%, primarily due to loans for the relocation and technical transformation project[41]. - The company plans to increase research and development investment and establish technology cooperation mechanisms to enhance innovation capabilities[109]. Environmental and Social Responsibility - The company reported a total nitrogen oxide emissions of 78.8 tons, with a concentration of 148 mg/m³, meeting the emission standards[175]. - The company achieved a total dust emissions of 7.43 tons, with a concentration of 14 mg/m³, in compliance with the emission standards[175]. - The company has installed streetlights and improved sanitation facilities in poverty-stricken villages, investing 11.5 million yuan in total[171]. - The company has committed to providing free vocational skills training to eligible impoverished individuals, ensuring they learn one to two skills[173]. - The company invested a total of 167.43 million yuan in poverty alleviation efforts, helping 211 registered impoverished individuals to escape poverty[171]. Market Conditions and Challenges - The sugar market operates on a 5-6 year cycle, with current conditions indicating a stabilization after a period of price decline[35]. - The company faces challenges in the paper industry due to overcapacity and rising raw material prices, impacting operational efficiency[106]. - The company has experienced increased competition and reduced profitability in the paper industry due to market oversupply and rising operational costs[120]. - The company anticipates increased funding needs for the new factory project in 2019 and will seek to improve financing structures to lower costs[118]. Compliance and Governance - The company has committed to ensuring the authenticity, accuracy, and completeness of information related to restructuring, which has been continuously fulfilled[130]. - The company has not reported any ongoing litigation or significant legal issues during the reporting period[84]. - The company has made a long-term commitment to reduce and standardize related party transactions, aiming to avoid or minimize such transactions with its subsidiaries[131]. - The company has not faced any major litigation or arbitration matters during the reporting period[144].

Financial Performance - Operating revenue for the reporting period reached ¥1,129,648,069.48, representing a significant increase of 93.07% year-on-year[8] - Net profit attributable to shareholders was ¥26,460,392.25, reflecting a growth of 2.25% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥25,518,112.63, down by 8.65% year-on-year[8] - The basic earnings per share for the reporting period was ¥0.0396, an increase of 2.33% compared to the previous year[8] - The weighted average return on net assets was 0.95%, an increase of 1.31 percentage points compared to the previous year[8] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥3,542,393,859.72, a decrease of 0.46% compared to the previous year[8] - Other receivables decreased by 33.37% compared to the beginning of the period, mainly due to the recovery of deposits from sugarcane farmers[17] - The company’s long-term prepaid expenses decreased by 35.30% compared to the beginning of the year, mainly due to reduced support funds for high-quality sugarcane planting[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 51,848[12] - The top three shareholders collectively hold 54.78% of the company's shares, indicating a strong concentration of ownership[14] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥157,821,079.92, a substantial increase of 159.50%[8] - Net cash flow from operating activities increased by 159.50% year-on-year, attributed to a 73.91% increase in cash received from sales of goods and services[19] Investments and Projects - The company completed the acquisition of 66.04% of the equity of Yunfu Lianfa Chemical Co., Ltd., enhancing its asset consolidation[8] - The cumulative investment in the overall relocation and renovation project reached 27,688.89 million RMB by September 30, 2018, including land purchases[23] - The company completed the bidding for major equipment and construction units for the relocation and renovation project, which is expected to enhance capital operation capabilities[21] - The company increased its investment in Guangxi Chuanghui Real Estate Development Co., Ltd. by injecting land valued at 38.88 million RMB, raising its registered capital from 24.59 million RMB to 63.47 million RMB[24] Other Financial Activities - The company reported a 100% decrease in financial income due to no occurrence of investment income from sugar futures this period[19] - The company engaged in entrusted wealth management with a total amount of 6 million CNY[30] - The entire amount of entrusted wealth management is sourced from the company's own funds[30] - There are no overdue amounts in entrusted wealth management[30] - No derivative investments were made during the reporting period[31] Compliance and Governance - No overdue commitments from actual controllers, shareholders, related parties, acquirers, or other related parties during the reporting period[27] - No significant changes in expected cumulative net profit for the year compared to the same period last year[28] - No violations regarding external guarantees were reported during the reporting period[33] - No non-operating fund occupation by controlling shareholders or related parties was reported during the reporting period[34] - No research, communication, or interview activities were conducted during the reporting period[32]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,303,462,897.18, representing a 46.64% increase compared to CNY 888,898,511.94 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 71,458,500.94, a 99.37% increase from CNY 35,842,994.35 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 68,558,872.30, up 157.43% from CNY 26,632,341.36 in the same period last year[17]. - The basic earnings per share increased to CNY 0.1069, a 99.44% rise compared to CNY 0.0536 in the previous year[17]. - The company reported a total non-operating income of CNY 2,899,628.64, which includes government subsidies of CNY 3,728,121.55 and other non-operating income[21]. - The company achieved a revenue of CNY 1.303 billion in the first half of 2018, an increase of CNY 415 million or 46.64% compared to CNY 889 million in the same period last year[35]. - The net profit for the first half of 2018 was CNY 71.46 million, up by CNY 35.62 million or 99.37% from CNY 38.54 million year-on-year[35]. - The company reported a total revenue of 3,654.87 million CNY for the first half of 2018[87]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,714,484,155.04, reflecting a 4.38% increase from CNY 3,558,711,849.54 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were CNY 2,722,540,462.68, a 0.96% increase from CNY 2,696,713,802.02 at the end of the previous year[17]. - Total liabilities rose to CNY 993,081,977.11 from CNY 861,500,642.52, marking an increase of approximately 15.3%[155]. - Short-term borrowings increased to CNY 330,000,000.00 from CNY 160,000,000.00, a growth of 106.25%[155]. - The company's expected liabilities increased by 55.53%, mainly due to increased expenses for greening projects in the Yun Sulfur Mining sector[29]. Cash Flow - The company reported a net cash flow from operating activities of CNY -41,296,663.02, an improvement of 71.68% compared to CNY -145,935,989.36 in the previous year[17]. - The cash and cash equivalents decreased by 65.76% to a net loss of CNY 28.85 million, reflecting improved operating cash flow[43]. - Cash inflow from operating activities is ¥1,541,438,064.44, an increase from ¥1,041,528,201.55 in the previous period[170]. - Cash outflow from operating activities totals ¥1,582,734,727.46, compared to ¥1,187,464,190.91 in the previous period, leading to a net cash flow from operating activities of -¥41,296,663.02[171]. Segment Performance - The sugar segment reported a revenue of CNY 662.49 million, a year-on-year increase of 117.16%, with a sales volume of 135,100 tons, up 159.81%[35]. - The paper segment generated a revenue of CNY 207.59 million, a decrease of 16.77% year-on-year, but the gross margin improved to 14.56%, an increase of 11.31%[36]. - The company’s sulfur mining segment achieved a revenue of CNY 409.12 million, a year-on-year increase of 30.57%, with a net profit of CNY 79.96 million, up 35.06%[37]. - The company’s core business includes the production and sale of mechanism sugar, paper pulp, and sulfur iron ore, with a focus on sustainable practices and market expansion[24]. Operational Developments - The company completed the acquisition of 66.04% of the equity of Yunfu Lianfa Chemical Co., Ltd. on January 24, 2018, integrating it into the financial statements[17]. - The company has implemented measures to ensure operational performance, including improving production quality and controlling costs[28]. - The company is progressing with its overall relocation and renovation project, with updates compared to previous disclosures[125]. - The total investment for the relocation and technological transformation project of the sugar factory has reached CNY 268.06 million, including CNY 106.92 million for project investment and CNY 161.14 million for land investment as of June 30, 2018[129]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[101]. - Total sulfur dioxide emissions from the thermal power plant amounted to 188 tons, with a discharge concentration of 204 mg/m³, compliant with the national standard[101]. - The company has implemented pollution control facilities including SNCR denitrification systems and bag dust removal systems, ensuring compliance with discharge limits[103]. - The total emissions of pollutants are within the approved discharge limits for the year[103]. Social Responsibility - The company has implemented a poverty alleviation plan aiming for a per capita disposable income of 45% above the provincial average for impoverished households by 2020[110]. - The company provided assistance to 36 individuals, distributing a total of CNY 40,300 in relief funds[114]. - A total of CNY 171,000 was allocated for poverty alleviation efforts, with 210 registered impoverished individuals lifted out of poverty[115]. - The company plans to achieve its poverty alleviation targets by 2018, ensuring third-party evaluation and verification[120]. Governance and Compliance - The financial report was approved by the board of directors on August 28, 2018, and includes newly consolidated subsidiary Yunfu Lianfa Chemical Co., Ltd.[194]. - The company has reported on the administrative regulatory measures taken by the China Securities Regulatory Commission since August 25, 2017, indicating compliance with regulatory requirements[77]. - The company has committed to ensuring the accuracy and completeness of its financial disclosures and reports[79].

Financial Performance - The company's operating revenue for 2017 was ¥1,907,370,590.83, an increase of 6.43% compared to ¥1,792,118,993.01 in 2016[19]. - Net profit attributable to shareholders in 2017 was ¥79,766,204.56, representing a significant increase of 105.91% from ¥38,738,133.81 in 2016[19]. - The net profit after deducting non-recurring gains and losses was ¥56,960,938.96, a remarkable increase of 597.73% compared to a loss of ¥11,444,217.40 in 2016[19]. - Basic and diluted earnings per share for 2017 were both ¥0.12, doubling from ¥0.06 in 2016[19]. - The weighted average return on equity increased to 2.98% in 2017, up by 1.51 percentage points from 1.47% in 2016[19]. - Total assets at the end of 2017 were ¥3,380,565,116.33, a slight decrease of 1.13% from ¥3,419,170,719.94 at the end of 2016[19]. - Net assets attributable to shareholders increased by 3.22% to ¥2,716,956,209.50 at the end of 2017, compared to ¥2,632,196,412.84 at the end of 2016[19]. - The company achieved an operating income of 1.9 billion yuan and a net profit of 80.23 million yuan during the reporting period[48]. Dividend Distribution - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders, based on a total of 668,401,851 shares[5]. - The company declared a cash dividend of CNY 0.50 per 10 shares, totaling CNY 33,420,092.55, which represents 100% of the profit distribution[131]. - The cash dividend payout ratio for 2017 was 41.90% of the net profit attributable to ordinary shareholders[130]. - The remaining undistributed profit at the end of 2017 was CNY 576,751,415.19, which will be carried forward to the next year[131]. Business Operations and Strategy - The company has expanded its main business to include the mining, processing, and sales of sulfur iron ore, along with the production and sales of sulfuric acid, iron ore powder, and phosphate fertilizer since July 31, 2015[15]. - The company decided to exit the production of finished paper products in June 2017 due to increasing losses, shifting focus to raw paper products[28]. - The company is focusing on managing procurement costs in the paper industry and expanding into niche markets to maintain sales advantages[32]. - The company has implemented strategies to improve production quality and reduce costs while expanding market reach to stabilize prices and increase sales[32]. - The company is actively pursuing mergers and acquisitions to stabilize its market position and enhance product competitiveness in the face of market risks[122]. Market Conditions - The sugar market in China has shown a steady increase in consumption, with sugar consumption rising from 882 million tons in the 1994/1995 season to 1,510 million tons in the 2016/2017 season[34]. - The company’s sulfur iron ore market is cyclical, with demand driven by the production of sulfuric acid and iron ore powder, which are heavily influenced by macroeconomic conditions[39]. - The company’s sulfur iron ore and sulfur chemical markets are recovering, with product prices rebounding due to supply-side reforms and capacity reduction policies[39]. - The sugar industry in Guangxi accounts for over 65% of the national sugar production, highlighting its significance in rural and agricultural economic development[108]. Investments and Acquisitions - The company completed a total investment of 4,173.22 million yuan in project construction and technological transformation during the reporting period[53]. - The company acquired a 69.5% stake in Guilin Yongfu Shunxing Sugar Co., Ltd., becoming its absolute controlling shareholder[54]. - The company has ongoing non-equity investments, including a wastewater treatment project with a fixed asset investment of CNY 54,388.9 million, which is 51.97% complete[87]. - The company has committed to an investment project involving high-pressure roller mill technology, with a total investment of 202.5 million, but no funds have been utilized yet[95]. Environmental Management - The company has a comprehensive wastewater treatment capacity of 40,000 tons per day, ensuring compliance with pollution discharge standards[175]. - The company has implemented a SNCR denitrification system, bag dust removal system, and alkaline desulfurization system for air pollution control[175]. - The company is classified as a key pollutant discharge unit, with a total sulfur dioxide emission of 336.6 tons, well below the annual limit of 1,264 tons[172]. - The company has established an automatic monitoring system for pollution sources at both the thermal power plant and wastewater treatment plant[175]. Shareholder Information - The total number of shareholders increased to 57,409 by the end of the reporting period, up from 56,093 at the end of the previous month[198]. - The largest shareholder, Yunfu Guangye Sulfur Iron Mine Group Co., Ltd., holds 31.31% of the shares, totaling 209,261,113 shares[198]. - The company’s total share capital stands at 668,401,851 shares, with 43.43% being restricted shares[196]. - The top three shareholders are identified as acting in concert, which includes Yunfu Guangye Sulfur Iron Mine Group Co., Ltd., Guangdong Guangye Group Co., Ltd., and Guangxi Guangye Yuegui Investment Group Co., Ltd.[199]. Regulatory Compliance - The company continues to fulfill its long-term commitments regarding the accuracy and completeness of information disclosure[133]. - The company is committed to ensuring compliance with regulatory requirements and has taken steps to rectify identified issues[144]. - The company faced administrative penalties due to the failure to completely separate operations from its controlling shareholder, resulting in corrective orders issued by the Guangxi Securities Regulatory Bureau[144].

Financial Performance - The company's operating revenue for Q1 2018 was ¥538,923,550, representing a 47.31% increase compared to ¥365,836,542 in the same period last year[8] - Net profit attributable to shareholders was ¥31,325,500, a significant increase of 114.33% from ¥14,615,644 in the previous year[8] - The net profit after deducting non-recurring gains and losses reached ¥29,839,527, marking a 502.89% increase from ¥4,949,432 in the same period last year[8] - The basic earnings per share (EPS) was ¥0.0469, up 114.16% from ¥0.0219 in the previous year[8] - The weighted average return on equity increased to 1.18%, up by 0.63 percentage points from 0.55% in the previous year[8] Assets and Shareholder Information - The total assets at the end of the reporting period were ¥3,778,948,847, reflecting a 5.68% increase from the previous year's end[8] - The net assets attributable to shareholders were ¥2,727,589,089, showing a 0.72% increase compared to the previous year[8] - The total number of shareholders at the end of the reporting period was 55,290[12] Cash Flow and Investments - The net cash flow from operating activities was -¥208,041,385, an improvement of 15.18% compared to -¥245,284,121 in the previous year[8] - The net cash flow from investing activities decreased by 501.7% year-on-year, mainly due to increased cash payments for the purchase of fixed assets and the acquisition of a 66.04% stake in Yunfu Lianfa Chemical Co., Ltd.[17] - Financial expenses decreased by 30.27% year-on-year, primarily due to an increase in interest income[17] - The company completed an investment of 244.75 million yuan in the overall relocation and renovation project by March 31, 2018[19] Inventory and Costs - Inventory increased by 89.45% compared to the beginning of the year, mainly due to the increase in inventory of refined sugar and paper raw materials[16] - Operating costs increased by 49.42% year-on-year, mainly due to the increase in costs associated with the trade sugar business, which had no costs in the same period last year[17] Borrowings and Prepaid Accounts - Short-term borrowings increased by 106.25% compared to the beginning of the year, primarily due to an increase in bank borrowings of 170 million yuan[16] - Prepaid accounts increased by 45.44% compared to the beginning of the year, mainly due to an increase in prepaid accounts for refined sugar, refined pulp, and orange juice[16] Acquisitions - The company completed the acquisition of 66.04% of Yunfu Lianfa Chemical Co., Ltd. on January 24, 2018, which is now a subsidiary[8] - The company acquired a 66.04% stake in Yunfu Lianfa Chemical Co., Ltd. through its wholly-owned subsidiary, Yunfu Guangye Sulfur Iron Mining Co., Ltd.[20] Future Outlook - The estimated net profit for the period from January to June 2018 may experience significant fluctuations compared to the same period last year[22]

Financial Performance - The company reported a significant increase in revenue, with total revenue reaching 1.2 billion RMB, representing a year-on-year growth of 15%[18]. - The company's operating revenue for 2017 was CNY 1,907,370,590.83, representing a 6.43% increase compared to CNY 1,792,118,993.01 in 2016[20]. - Net profit attributable to shareholders for 2017 was CNY 79,766,204.56, a significant increase of 105.91% from CNY 38,738,133.81 in 2016[20]. - The net profit after deducting non-recurring gains and losses reached CNY 56,960,938.96, a remarkable increase of 597.73% compared to a loss of CNY 11,444,217.40 in 2016[20]. - Basic and diluted earnings per share for 2017 were both CNY 0.12, doubling from CNY 0.06 in 2016[20]. - The company's revenue for the reporting period reached 1.9 billion yuan, with a net profit of 80.23 million yuan[49]. - The sugar segment's revenue increased by 15.82% year-on-year to 750.98 million yuan, with a gross profit margin of 6.58%, up by 1.69 percentage points[50]. - The company reported a total revenue of 65,128 million yuan from mining and chemical industries in 2017, an increase of 24.90% year-on-year, with a net profit of 11,764 million yuan, up 165.46%[53]. Dividend Distribution - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders, based on a total of 668,401,851 shares[5]. - The company distributed a cash dividend of CNY 0.50 per 10 shares for the year 2017, totaling CNY 33,420,092.55, which represents 41.90% of the net profit attributable to shareholders[133]. - The net profit attributable to the parent company for 2017 was CNY 79,766,204.56, with a total distributable profit of CNY 610,171,507.74 at year-end[134]. - The remaining undistributed profits at the end of 2017 amounted to CNY 576,751,415.19, which will be carried forward to the next year[134]. - The cash dividend payout ratio for the current period is 100% of the distributable profit[134]. Business Operations and Strategy - The company has expanded its main business to include the mining, processing, and sales of sulfur iron ore, in addition to its traditional sugar production[16]. - The company decided to exit the production of finished paper products in June 2017 due to increasing competition and rising production costs[29]. - The company aims to enhance production quality and reduce costs while expanding market reach to stabilize prices and increase sales[32]. - The company is focusing on diversifying its operations across sugar, paper, and mining sectors to enhance overall business performance[118]. - The company plans to adjust its existing pulp and paper business structure to maximize profitability and improve operational efficiency[120]. - The company aims to stabilize and expand its sugar production scale through acquisitions and mergers, while improving technology and reducing costs[119]. Market Conditions - The company emphasizes the importance of market conditions in achieving its operational goals and profit forecasts for 2018[5]. - In 2017, the domestic sugar market experienced a supply-demand imbalance, leading to a reliance on sugar imports to stabilize prices[33]. - The sulfur iron ore market is influenced by the recovery of downstream sulfuric acid and steel markets, with prices rebounding due to supply-side reforms and capacity reduction policies[40]. - The overall sugar market in 2017 showed improvement compared to 2016, with the implementation of safeguard measures on imported sugar contributing to a more favorable market environment[113]. Environmental and Social Responsibility - The company has focused on environmental protection projects, such as the construction of a wastewater treatment facility[90]. - The company is committed to ongoing social responsibility initiatives, including targeted poverty alleviation efforts[169]. - The company has implemented a poverty alleviation plan for 2018, ensuring stable income for impoverished households and completion of housing renovations[175]. - The company is classified as a key pollutant discharge unit, with sulfur dioxide emissions at 336.6 tons and nitrogen oxides at 227.8 tons, both within regulatory limits[176]. - The company has established automatic monitoring systems for pollutant emissions at its thermal power plant and wastewater treatment facilities, ensuring continuous oversight[178]. Financial Management - The company has engaged China Galaxy Securities and Guotai Junan Securities as financial advisors for continuous supervision[17]. - The company has increased short-term borrowings by 433.33% year-on-year, primarily to cover increased payment obligations and investments in the Yuegui area project[42]. - The net cash flow from operating activities was negative CNY 2.83 million, a decline of 100.86% compared to a positive cash flow of CNY 329.96 million in the previous year[78]. - The company has committed to maintaining transparency and accuracy in its financial reporting, as stated by its board of directors[4]. Acquisitions and Investments - The company completed a significant acquisition of a controlling stake (69.5%) in Guilin Yongfu Shunxing Sugar Co., Ltd., enhancing its market position in the sugar industry[54]. - The acquisition of Guangdong Guangye Yun Sulfur Mining Co., Ltd. is based on an assessed price of 1,352.74 million CNY, with a book value of -1,047.87 million CNY and an assessed value of 2,048.36 million CNY, resulting in an increase of 3,096.23 million CNY and a valuation increase rate of 295.48%[153]. - The company has invested 500 million CNY in bank financial products during the reporting period, with no overdue amounts[163]. Compliance and Governance - The company has committed to ensuring the accuracy and completeness of its financial disclosures and reports, holding directors and management accountable for any misleading statements[138]. - The company has maintained compliance with the relevant disclosure requirements and has not encountered any significant accounting errors requiring restatement during the reporting period[142]. - The company appointed Zhongshen Zhonghuan CPA as the internal control auditing firm, with an audit fee of 330,000 RMB for the year 2017[144].