Financial Performance - Nanning Sugar Industry Co., Ltd. reported a total revenue of RMB 1.2 billion for the fiscal year 2019, representing a year-on-year increase of 15%[14]. - The company's operating revenue for 2019 was CNY 3,662,949,804.03, representing a 1.80% increase compared to 2018[19]. - The company achieved a total revenue of 649,319,688 CNY, reflecting a decrease in operational performance[83]. - The total revenue for Nanning Sugar Industry Co., Ltd. in 2019 was 6,876.3 million yuan, a decrease from 7,866.2 million yuan in 2018, representing a decline of approximately 12.5%[138]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY in 2019, representing a growth of 15% compared to the previous year[191]. - The company provided a positive outlook for 2020, projecting a revenue growth of 10% to 1.32 billion CNY, driven by new product launches and market expansion strategies[193]. Profitability - The net profit attributable to shareholders was CNY 31,891,158.49, a significant turnaround from a loss of CNY 1,363,041,771.90 in 2018, marking a 102.34% improvement[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -569,558,938.54, an improvement of 60.61% from the previous year's loss[19]. - The basic earnings per share for 2019 was CNY 0.10, a recovery from a loss of CNY 4.21 per share in 2018, reflecting a 102.38% increase[20]. - The weighted average return on equity improved to 59.02% from -189.44% in 2018, indicating a significant recovery in profitability[20]. - The company reported a significant increase in related party transactions, with a total of 681.60 million yuan in transportation fees, up 2.25% from 620 million yuan in 2018[133]. Assets and Liabilities - Nanning Sugar's total assets reached RMB 3.5 billion, with a net asset value of RMB 1.8 billion, indicating a debt-to-asset ratio of 48%[14]. - The total assets at the end of 2019 were CNY 5,341,962,444.35, down 8.15% from CNY 5,816,215,829.56 at the end of 2018[20]. - The company reported a total asset value of 899,890,725 CNY, with net assets of 539,161,588 CNY[83]. - The company's total assets decreased by 8.69% compared to the beginning of the year due to the sale of a 75% stake in Huanjiang Yuanfeng Sugar Industry[176]. Production and Sales - Nanning Sugar's sugar production volume for 2019 was 300,000 tons, a 10% increase compared to the previous year[14]. - The company produced 670,300 tons of mechanism sugar in 2019, with cane sugar production at 660,400 tons[30]. - The company reported a sugar production volume of 660,392.71 tons, an increase of 10.02% from the previous year, while sales volume slightly decreased by 0.81% to 620,006.21 tons[52]. - In 2019, the company's sugar sales volume reached 620,000 tons, with a market share of 9.69% in Guangxi, remaining stable compared to 2018, and a national market share of 6%, an increase of 0.33 percentage points from 5.77% in 2018[43]. Strategic Initiatives - The company plans to expand its market presence by increasing production capacity by 20% in the next fiscal year[14]. - The company is focusing on the development of new products, including organic sugar and sugar substitutes, to meet changing consumer preferences[14]. - The company plans to implement order agriculture for sugarcane procurement starting from the 2019/2020 crushing season, allowing for market-based pricing[31]. - The company aims to achieve its strategic goal of "optimizing existing assets and expanding new growth" to reach a revenue target of CNY 10 billion[46]. - The company plans to develop a logistics service platform with a storage capacity of over 200,000 tons to create new profit growth points[89]. Research and Development - Nanning Sugar's research and development expenses accounted for 5% of total revenue, reflecting its commitment to innovation[14]. - The number of R&D personnel decreased by 30.63% to 351 in 2019, down from 506 in 2018[62]. - Investment in new product development increased by 25% in 2019, with a focus on innovative sugar products aimed at health-conscious consumers[194]. - The R&D department has reported a successful trial of a new sugar substitute, which is expected to launch in Q3 2020, potentially capturing a new customer segment[194]. Market Position and Competition - The company has maintained its leading product quality, winning multiple awards in the 31st National Sugar Quality Evaluation, achieving 17 consecutive championships for Afa white sugar and 14 consecutive championships for carbon white sugar[42]. - The company is actively seeking opportunities for regional expansion amid a downturn in the sugar market[89]. - The company faces risks from market competition and potential impacts from imported sugar[92]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2022 through strategic partnerships and local distribution channels[191]. Environmental Responsibility - The company is classified as a key pollutant discharge unit, adhering to environmental protection standards while managing waste emissions[157]. - Nanning Sugar Industry Co., Ltd. has implemented continuous discharge standards for wastewater and waste gas, ensuring compliance with environmental regulations[160]. - The company achieved a total pollutant discharge compliance rate of 100% during the reporting period, with all pollution control facilities operating stably[161]. - The company is focused on improving environmental protection equipment and promoting clean production practices to achieve sustainable development[160]. Corporate Governance and Compliance - The company has committed to minimizing and regulating related transactions with Nanning Sugar Industry to protect minority shareholders' interests[104]. - The company emphasizes compliance with laws and regulations in its operations[114]. - The company has not reported any litigation issues related to its derivative investments, indicating a stable legal standing[79]. - The company is involved in ongoing litigation regarding a contract dispute with Anxing Paper Co., Ltd., with claims amounting to approximately CNY 13.87 million[169].

Financial Performance - Operating revenue for the reporting period was CNY 876,506,142.83, down 25.86% year-on-year [9]. - Net profit attributable to shareholders of the listed company was CNY -40,494,152.68, an increase in loss of 73.30% compared to the same period last year [9]. - Basic earnings per share were CNY -0.12, a decrease of 74.47% year-on-year [9]. - Total operating revenue for Q3 2019 was CNY 876,506,142.83, a decrease of 25.8% compared to CNY 1,182,159,737.84 in the same period last year [43]. - The net loss attributable to shareholders for Q3 2019 was CNY 1,841,355,481.28, compared to a loss of CNY 1,498,797,486.44 in the previous year [41]. - The total comprehensive loss for Q3 2019 was CNY 41.55 million, compared to a loss of CNY 150.78 million in the same period last year [44]. - The net loss for the year-to-date period was CNY 549.35 million, compared to a loss of CNY 660.98 million in the same period last year [51]. - The company's operating revenue for the current period is CNY 1,841,070,227.83, a decrease of 1.5% compared to CNY 1,869,800,635.15 in the previous period [54]. - The net profit for the current period is CNY -342,557,994.84, an improvement from CNY -569,396,623.49 in the previous period, indicating a reduction in losses [55]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,570,928,181.71, a decrease of 4.22% compared to the end of the previous year [9]. - Total liabilities increased to CNY 6,086,727,013.97 from CNY 5,782,907,545.63, indicating an increase of about 5.3% [36]. - Total equity attributable to shareholders decreased to CNY 83,138,021.91 from CNY 425,696,016.75, a decline of 80.5% [41]. - The company's total liabilities were reported at CNY 5,568,845,149.23, resulting in a total equity of CNY 425,696,016.75 [72]. - The company’s total liabilities increased slightly, with non-current liabilities totaling 1,345,983,571.75 CNY [66]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -668,591,902.41, a decrease of 272.05% compared to the previous year [9]. - The company's cash and cash equivalents decreased to CNY 374,885,485.41 from CNY 553,495,768.21, a decline of 32.4% [38]. - The cash flow from financing activities generated a net inflow of CNY 620,142,199.55, compared to CNY 102,418,747.25 in the previous period [59]. - Operating cash flow for the period was negative at -573,764,198.25 CNY, compared to -207,359,815.04 CNY in the previous period, indicating a decline in operational efficiency [61]. - Cash received from sales of goods and services was 2,076,331,337.61 CNY, a decrease of approximately 12.8% from 2,383,396,467.24 CNY in the previous period [61]. Investments and Financial Activities - Investment income increased by 2,681.53% year-on-year, primarily due to the transfer of equity in Hubei Qiaofeng [17]. - The company’s investment activities resulted in a net cash outflow of CNY -142,491,374.68, an improvement from CNY -258,219,600.85 in the previous period [59]. - The company has a long-term investment of CNY 1,170,695,230.55, indicating a focus on strategic investments [70]. - The company reported an investment income of CNY 8,390,657.71 for Q3 2019, compared to CNY 370.00 in the previous year [43]. Legal and Compliance - The company reported a change in litigation claims, increasing the amount sought from Guangxi Fufang Investment Co., Ltd. to RMB 127,417,879.3 due to unfulfilled performance compensation for the years 2016 and 2017 [18]. - The company is involved in a contract dispute with Guangxi Siyuan Agricultural Development Co., Ltd., with a counterclaim filed on August 8, 2019, related to the case [19]. - The company has initiated legal proceedings against Guangzhou Guangshunlong Import and Export Co., Ltd. for a total of RMB 37,473,300 in unpaid commercial acceptance bills [20]. - The company has faced a legal dispute with Nanning Jinlang Pulp Industry Co., Ltd., with a total compensation amount of RMB 1,287,000 and RMB 201,000 for two subsidiaries, respectively [20]. - There were no instances of non-compliance with external guarantees during the reporting period [29]. Operational Efficiency - The company’s financial expenses for Q3 2019 were CNY 67,764,803.50, slightly up from CNY 64,805,040.55 in the same period last year [43]. - The company reported an asset impairment loss of CNY 60.80 million in Q3 2019, compared to a gain of CNY 26.58 million in the same period last year [47]. - The company has established a hedging management system to strengthen internal controls and risk prevention measures [27]. - The company conducted sugar futures hedging to mitigate price volatility, with no adverse effects on shareholder interests [27].

Financial Performance - The company's operating revenue for the reporting period was CNY 1,664,649,197.36, representing a slight increase of 0.02% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 498,216,182.66, which is a decrease of 0.44% year-on-year[18]. - The net cash flow from operating activities improved by 17.22%, amounting to a loss of CNY 975,004,093.52 compared to a loss of CNY 1,203,242,127.62 in the previous year[18]. - Total assets at the end of the reporting period reached CNY 6,361,434,327.79, an increase of 9.37% from the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY -460,219,559.30, reflecting a significant decrease of 1,311.21% compared to the previous year[18]. - The basic and diluted earnings per share were both CNY -1.54, showing a decrease of 0.65% from the previous year[18]. - The company reported a significant decrease in investment activities, with total investments of CNY 61,752,003.80, down 42.85% from CNY 108,061,316.12 in the previous year[49]. - The company reported a derivative investment amount of CNY 1,497.0 million, with no sales or purchases during the reporting period[55]. - The company reported a total revenue of 1,247.93 million yuan for the first half of 2019, with a significant increase of 23.10% compared to the previous period[99]. - The net profit for the first half of 2019 was -298,752,039.88 CNY, an improvement from -444,932,911.52 CNY in the same period of 2018, indicating a reduction in losses by approximately 32.8%[185]. Business Operations - The company's main business remains the production and sales of refined sugar, with a total output of 435,600 tons, a decrease of 5.61% compared to 461,500 tons in the same period last year[26]. - The sugar sales are primarily conducted through direct sales and distribution, with prices determined by market conditions, referencing major sugar trading markets[27]. - The company has established a strong brand presence, with multiple awards including 2 China Famous Brands and 4 National Inspection Exemptions for its sugar products[32]. - The company has completed over 40 major technological innovation projects since the establishment of its technology center, enhancing its core competitiveness in sugar production[33]. - The sugar industry in China is experiencing a cyclical pattern of production and pricing, influenced by previous year's sugar prices, which affects farmers' planting decisions[29]. - The company has increased its inventory of white sugar, indicating a strategic response to market demand fluctuations[31]. - The company is positioned in Guangxi, which accounts for approximately 60% of China's sugarcane planting area and sugar production, leveraging regional advantages for growth[28]. - The company emphasizes quality management and has received several quality awards, including the first "Mayor's Quality Award" in Nanning[33]. - The company is focused on talent development, promoting a culture where every employee has the opportunity to succeed[34]. Investment and Financing - The company has established a dual-high base construction area of 433,000 acres to ensure stable development of raw sugarcane[39]. - The company aims to track market trends and adjust hedging strategies accordingly to manage risks effectively[55]. - The company plans to optimize its asset structure and enhance investment returns, with a net profit contribution of 2,478.5 million RMB, representing 4.49% of total net profit[58]. - The company is focused on modernizing agricultural practices, including mechanization and water-saving irrigation, to improve sugarcane yield[63]. - The company is developing a logistics platform with a storage capacity of over 200,000 tons to enhance supply chain efficiency[64]. - The company is pursuing a strategy of diversifying its sugar products and extending its product line to create a leading brand in green, healthy, and safe food[63]. Legal and Compliance - The company reported a lawsuit involving a claim for performance compensation amounting to 12,741.79 million yuan, which has not yet been adjudicated[93]. - The company has not undergone any bankruptcy reorganization during the reporting period[92]. - The half-year financial report has not been audited[90]. - The company has made commitments to protect the legal rights of minority shareholders and ensure compliance with competition regulations[89]. - The company has not reported any significant new product or technology developments in the report[98]. - The company is currently unable to assess the impact of ongoing litigation on its future financial performance[96]. Environmental and Social Responsibility - The company invested CNY 43.22 million in poverty alleviation efforts, helping 1,755 registered impoverished individuals to escape poverty[123]. - The company implemented six agricultural and forestry poverty alleviation projects with a total investment of CNY 42 million[124]. - The company established an online monitoring system for wastewater and air emissions, ensuring real-time compliance with environmental standards[121]. - The company has maintained a stable operation of all pollution control facilities, with no environmental pollution incidents reported[119]. - The company’s environmental protection work is aligned with its goal of sustainable development through circular economy practices[121]. Future Outlook - The future outlook for sugar consumption in China remains positive, driven by rising living standards and changes in consumption habits[28]. - The company is focusing on improving operational efficiency to enhance profitability in the upcoming quarters[196]. - Future guidance indicates a cautious outlook, with expectations of gradual recovery in market conditions[199].

南宁糖业股份有限公司 2018 年年度报告全文 南宁糖业股份有限公司 2018 年年度报告 2019 年 04 月 1 南宁糖业股份有限公司 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。 公司负责人肖凌、主管会计工作负责人谢电邦及会计机构负责人(会计主管 人员)黄新声明：保证年度报告中财务报告的真实、准确、完整。 不适用 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 | 南宁糖业股份有限公司 2018 年年度报告全文 | | --- | | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介和主要财务指标 6 | | 第三节 公司业务概要 10 | | 第四节 经营情况讨论与分析 13 | | 第五节 重要事项 30 | | 第六节 股份变动及股东情况 50 | | 第七节 优先股相关情况 55 | | 第八节 董事、监事、高级管理人员和员工情况 56 | | 第九节 公司治理 61 | | 第十节 公司债券相关 ...

宁糖业股份有限公司 Nanning Sugar Industry CO.,LTD. 南 | --- | --- | |------------|--------| | | | | 证券代码： | 000911 | | 债券代码： | 112109 | | | | | 债券代码： | 114276 | | 债券代码： | 114284 | | --- | --- | |-----------------------|----------------------------------------| | | | | | | | 证券简称： 债券简称： | *ST南糖 债券简称：12南糖债 17南糖债 | | 债券简称： | 17南糖02 | 公告编号：2019-052 南宁糖业股份有限公司 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内容的真实、准确和完整，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，南宁糖业股份有限公司（以下简 称"公司"）将参加由广西上市协会、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 ...

Financial Performance - The company's operating revenue for Q1 2019 was ¥854,269,894.14, representing a 22.59% increase compared to ¥696,840,007.07 in the same period last year[8]. - The net profit attributable to shareholders was -¥266,706,247.21, a decrease of 37.68% from -¥193,720,358.44 year-on-year[8]. - The company's basic and diluted earnings per share were both -¥0.82, reflecting a 272.73% decline from -¥0.22 in the previous year[8]. - The company's net profit for Q1 2019 was -276,725,596.05 CNY, compared to -197,108,916.04 CNY in the same period last year, representing an increase in net loss of approximately 40.3%[45]. - The total profit for Q1 2019 was -261,958,299.35 CNY, compared to -196,159,747.35 CNY in the previous year, reflecting an increase in loss of approximately 33.5%[45]. - The operating profit for Q1 2019 was -197,530,570.00 CNY, compared to -113,884,836.81 CNY in the same period last year, showing an increase in loss of approximately 73.6%[47]. - The company's total comprehensive income for Q1 2019 was -276,725,596.05 CNY, compared to -197,108,916.04 CNY in the previous year, indicating a decline of approximately 40.3%[46]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 68.96%, reaching -¥355,751,329.57, compared to -¥1,146,018,241.56 in the previous year[8]. - Cash inflow from operating activities in Q1 2019 was 1,073,527,028.49 CNY, compared to 981,203,170.75 CNY in Q1 2018, representing an increase of about 9.4%[51]. - The net cash flow from operating activities for the first quarter was -163,125,926.13 CNY, an improvement from -986,574,183.35 CNY in the same period last year[54]. - The company reported a total cash and cash equivalents balance of 574,803,188.75 CNY at the end of the quarter, compared to 520,147,791.76 CNY at the same time last year[56]. - The net increase in cash and cash equivalents for the quarter was 21,307,420.54 CNY, compared to a decrease of -652,144,109.84 CNY in the same period last year[56]. Assets and Liabilities - Total assets increased by 24.52% to ¥7,242,641,226.94 from ¥5,816,215,829.56 at the end of the previous year[8]. - The total liabilities increased to CNY 6,908,751,057.36 in Q1 2019 from CNY 5,568,845,149.23 in Q1 2018[41]. - The company's retained earnings showed a deficit of CNY -1,696,165,460.53, worsening from CNY -1,498,797,486.44 in the previous year[42]. - The company's net assets attributable to shareholders decreased by 701.27%, amounting to -¥228,460,877.07 compared to ¥37,996,623.36 at the end of the previous year[8]. Inventory and Accounts - Inventory rose by 125.98%, primarily due to the concentration of mechanism sugar production during the January to March period[15]. - Inventory levels surged to CNY 1,122,009,672.79, compared to CNY 316,944,764.02 in the previous year[39]. - Accounts payable increased by 143.45%, mainly due to outstanding payments for raw materials, specifically sugarcane[15]. - Accounts receivable increased to CNY 853,975,772.70 from CNY 767,704,593.05, representing an increase of approximately 11%[34]. Shareholder Information - The company reported a total of 46,038 common shareholders at the end of the reporting period[11]. - The controlling shareholder held 136,768,800 shares, accounting for 42.20% of the total share capital, with 29,977,486 shares still under pledge[19]. - Nanning Sugar Industry's controlling shareholder has pledged not to reduce its shareholding in the company for six months before and after the pricing benchmark of the non-public offering[22]. Government and Regulatory Matters - The company received a government subsidy of RMB 16.8143 million related to asset improvements on February 27, 2019[19]. - The company faces a risk of suspension of its 2012 corporate bonds due to regulatory compliance issues[17]. - The company has received a notice of termination of review for its administrative license application from the China Securities Regulatory Commission[18]. - The company received approval from the China Securities Regulatory Commission to exempt Guangxi Rural Investment Group from the obligation to make a tender offer due to the transfer of state-owned shares[16]. Business Operations and Strategy - The company has committed to not engaging in similar businesses that compete with its main sugar production business[21]. - Nanning Sugar Industry has conducted a self-inspection regarding its real estate activities, confirming no illegal practices such as land hoarding or price manipulation[22]. - The company has not engaged in real estate development projects since its establishment, focusing instead on financial settlements related to previous projects[22]. - The company anticipates that the restructuring of state-owned enterprises in Nanning will lead to control over more than 100 state-owned enterprises[21]. - Nanning Sugar Industry is committed to transferring any business that may lead to substantial competition with its main operations to avoid conflicts of interest[21]. Research and Development - The company invested CNY 742,511.59 in R&D expenses during Q1 2019, marking the first recorded R&D expenditure[43].

Financial Performance - Nanning Sugar Industry Co., Ltd. reported a revenue of RMB 1.2 billion for the fiscal year 2018, representing a year-on-year increase of 15%[13]. - The company achieved a net profit of RMB 150 million in 2018, which is a 20% increase compared to the previous year[13]. - The company's operating revenue for 2018 was CNY 3,598,250,679.5, representing a 23.80% increase compared to the previous year[19]. - The net profit attributable to shareholders was a loss of CNY 1,363,041,771.90, a significant decline of 603.93% from the previous year[19]. - The cash flow from operating activities improved to CNY 395,242,458.35, a 145.90% increase compared to the previous year[20]. - The basic and diluted earnings per share were both CNY -4.21, reflecting a decrease of 601.67% year-on-year[20]. - The total assets at the end of 2018 were CNY 5,816,215,829.5, down 21.28% from the previous year[20]. - The company reported a significant increase in non-operating income, totaling CNY 82,807,964.43 for 2018[26]. - The company reported a total revenue of CNY 3,598,250,679.55 in 2018, representing a year-on-year increase of 23.8%[44]. - The net profit attributable to shareholders was CNY -136,304,000, a decrease of 603.94% compared to the previous year[44]. Production and Sales - Nanning Sugar's sugar production volume for the year was 300,000 tons, marking a 12% increase from the previous year[13]. - The company produced a total of 600,200 tons of mechanism sugar during the reporting period, including 538,900 tons from sugarcane[29]. - The sugar sales volume reached 624,095.94 tons, an increase of 56.79% from 398,684.34 tons in 2017[50]. - The company completed a sugarcane planting area of 1,005,100 acres, an increase of 11,000 acres or 1.11% year-on-year[40]. - The company’s sugar production cost increased by 64.21% compared to the previous year, leading to a gross margin decrease of 7.79% in the sugar segment[49]. Market Position and Strategy - The company has established strategic partnerships with local farmers to secure a stable supply of raw materials[13]. - The company's market share in Guangxi increased to 9.87% from 8.84% in 2017, while the national market share rose to 5.77% from 4.83% in 2017[32]. - The company is focusing on developing new products, including organic sugar, to meet changing consumer preferences[13]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[13]. - The company aims to achieve a strategic goal of "building a hundred billion sugar enterprise" by expanding its sugar production and related industries[39]. Investment and Technology - Nanning Sugar is investing RMB 200 million in new technology for sugar production to enhance efficiency and reduce costs[13]. - The company has completed over 40 major technological innovation projects since the establishment of its technology center in 2000[36]. - The company has implemented several technological upgrades, resulting in a reduction of 253 labor positions and significant energy savings, with coal consumption per hundred tons of sugarcane decreasing by 11.61%[58]. - The company plans to invest CNY 50 million in the upgrade of the boiler at the Mingyang Sugar Factory as part of the sugar production capacity enhancement project[76]. Risk Management - The company is engaged in hedging activities related to white sugar to manage business risks[30]. - The company has established a hedging management system to strengthen internal controls and risk prevention measures for its sugar hedging activities[71]. - The company faces operational risks due to rising sugar production costs and potential declines in sugar prices, which could lead to significant losses[90]. - The sugar production cost is significantly influenced by sugarcane prices, which account for over 70% of the total production cost[84]. Corporate Governance and Compliance - The company has a commitment to ensuring that any future business activities do not create substantial competition with its main sugar business[99]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[99]. - The company has not reported any integrity issues concerning its controlling shareholders or actual controllers during the reporting period[113]. - The company has a strong governance structure with independent directors and supervisors actively involved in oversight[188]. Social Responsibility and Environmental Protection - The company has a commitment to environmental protection, with specific measures in place to monitor and control pollutant emissions[140]. - The company achieved a 100% compliance rate for the discharge of various pollutants during the reporting period[142]. - The company has implemented a poverty alleviation plan focusing on developing a diversified industry system to support impoverished areas[132]. - The company invested a total of 42.88 million yuan in poverty alleviation efforts, helping 1,755 registered impoverished individuals to escape poverty[135]. Legal and Regulatory Matters - The company reported a litigation case involving an amount of 54.98 million RMB, which is currently pending in court[109]. - The company is pursuing legal action against Guangzhou Guangshunlong Import and Export Co., Ltd. for an outstanding payment of 37,473,300 yuan[111]. - The company has appointed Ruihua Certified Public Accountants as its auditor for the 2018 annual report, with an audit fee of 400,000 RMB[107]. - The company has not faced any situations that could lead to suspension or termination of its listing[108].

Financial Performance - Total assets decreased by 7.84% to CNY 6,809,225,537.16 compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 46.20% to CNY 753,733,903.08 compared to the end of the previous year[8] - Operating revenue increased by 68.77% to CNY 2,846,456,915.89 year-to-date[8] - Net profit attributable to shareholders was a loss of CNY 151,661,335.69, a decrease of 406.77% compared to the same period last year[8] - Basic earnings per share decreased by 422.22% to CNY -0.47[8] Operating Costs and Expenses - Operating costs increased by 96.71% year-on-year, primarily due to increased product sales[17] - Financial expenses increased by 22.45% year-on-year due to an increase in total borrowings and rising bank loan interest rates[17] - Sales expenses increased by 41.38% year-on-year due to increased production and sales volumes[17] Legal Matters - The company is pursuing legal action against Guangxi Nanning Puxiding Trade Co., Ltd. and others for a total of CNY 37.47 million in unpaid commercial acceptance bills, with the total claim including penalties and legal fees amounting to CNY 41.85 million[18] - The company has initiated a lawsuit against Guangxi Fufang Investment Co., Ltd. for performance compensation due to unmet profit commitments for the years 2016-2018, totaling CNY 51.12 million, plus overdue penalties of CNY 3.87 million[20] - The company is involved in arbitration with Anxing Paper Co., Ltd. regarding unilateral cessation of operations at a joint venture, claiming economic losses and legal fees totaling CNY 13.87 million[20] Government Support and Initiatives - The company has received government subsidies for the "Double High" sugarcane base construction, indicating support for its agricultural initiatives[21] - The company plans to transfer its stake in Guangxi Nannan Aluminum Foil Co., Ltd., indicating potential market expansion or restructuring[22] - The company’s wholly-owned subsidiary, Nanning Yun'ao Logistics Co., Ltd., has become a designated warehouse for sugar at Zhengzhou Commodity Exchange, enhancing its logistics capabilities[22] Compliance and Financial Strategy - The company has not reported any overdue commitments from its actual controllers, shareholders, or related parties during the reporting period, indicating compliance with obligations[23] - There are no significant changes expected in the company's net profit for the year, suggesting stability in financial performance[24] - The company has not engaged in any securities investments or entrusted financial management during the reporting period, maintaining a conservative financial strategy[25] Risk Management and Derivative Investments - The company is involved in derivative investments, reflecting a strategy to manage financial risks[26] - The company reported a total derivative investment amount of 1,497.06 million, with a net asset value of 0.00% change during the reporting period[27] - The company implemented risk control measures through white sugar hedging to mitigate the impact of price fluctuations on normal operations[28] - The company has established a hedging management system to strengthen internal controls and risk prevention measures for white sugar hedging activities[28] - The company emphasizes the importance of understanding national policies and regulations to adjust hedging strategies accordingly[28] - The company plans to use self-owned funds for futures market hedging activities to control risks effectively[28] - The company aims to select main contracts for hedging operations and prefers to use long-term contracts for better risk management[28] Accounting Policies - There were no significant changes in the accounting policies and principles for derivatives compared to the previous reporting period[29] Investor Relations - The company conducted a field survey on August 14, 2018, with institutional investors to discuss operational strategies[29] External Guarantees and Fund Occupation - There were no violations regarding external guarantees during the reporting period[30] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[31]

Financial Performance - Nanning Sugar Industry Co., Ltd. reported no cash dividends, stock bonuses, or capital increases from reserves for the year[7]. - The company's operating revenue for 2017 was ¥2,906,420,912.16, a decrease of 19.01% compared to ¥3,588,819,665.40 in 2016[21]. - The net profit attributable to shareholders was -¥193,633,993.08, representing a decline of 1,152.44% from a profit of ¥18,398,585.03 in 2016[21]. - The net cash flow from operating activities was -¥861,174,309.73, a decrease of 329.18% compared to ¥375,760,457.50 in 2016[21]. - The diluted earnings per share for 2017 was -¥0.60, a decrease of 1,100.00% from ¥0.06 in 2016[22]. - In 2017, the company achieved a total revenue of CNY 2,906,420,912.16, a decrease of 19.01% compared to the previous year[48]. - The net profit attributable to shareholders was CNY -19,363,400, a decline of 1,152.44% year-on-year[48]. - Sugar sales volume reached 398,684.34 tons, down 30.84% from 576,472.98 tons in 2016[55]. - The company's sugar production volume was 484,319.27 tons, a decrease of 12.60% from 554,139.49 tons in 2016[55]. - The company's logistics subsidiary has achieved a storage capacity of over 200,000 tons, enhancing its supply chain capabilities[47]. Market Position and Strategy - The sugar industry in China is experiencing significant growth potential, driven by increasing consumption and the development of the food and beverage sectors[34]. - The company's sugar sales market share in Guangxi increased to 8.84% in 2017, up from 7.83% in 2016, representing a growth of 1.01 percentage points[35]. - The national market share for the company's products rose to 4.83% in 2017, compared to 4.6% in 2016, an increase of 0.23 percentage points[35]. - The company aims to achieve a strategic goal of becoming a 10 billion yuan sugar enterprise by expanding its main sugar business[44]. - The company plans to continue its strategy of optimizing existing operations while expanding new growth areas, aiming for a "CNY 10 billion sugar" target[48]. - The company is actively seeking opportunities for cross-regional expansion amid a downturn in the sugar market[100]. - The company is focusing on optimizing its industrial structure and diversifying its product offerings to enhance competitiveness[99]. Production and Operations - The company produced 484,300 tons of mechanism sugar in 2017, including 432,900 tons from sugarcane and 51,400 tons of trade sugar[32]. - The area planted with sugarcane reached 994,000 acres in 2017, an increase of 92,300 acres or 10.2% compared to the previous year[44]. - The company has established 364,000 acres of "double high" bases for sugarcane cultivation, with 212,000 acres from land transfer and 152,000 acres from farmer-led initiatives[44]. - The company completed over 40 major technological innovation projects since the establishment of its technology center in 2000[39]. - The company has implemented policies to support sugarcane farmers, including guaranteed cane prices to enhance planting enthusiasm[44]. Financial Management and Investments - The company reported a total of 272,511,520.07 CNY in restricted cash due to various guarantees[73]. - The total amount of investment income was ¥23,480,404.20, contributing 10.04% to the total profit[68]. - The company reported a 32.30% increase in cash inflow from financing activities, totaling ¥5,387,213,107.60 in 2017[66]. - The total procurement amount from the top five suppliers was ¥750,567,024.87, accounting for 22.38% of the annual procurement total[60]. - The company has engaged in various strategic partnerships and investments to expand its market presence in the sugar industry[75]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[148]. - The total COD discharge from the company is reported at 6.59 tons per year, with no exceedance of discharge standards[148]. - The company has a total SO2 discharge of 26.58 tons per year, which is within the regulatory limits[148]. - The company has implemented an environmental protection management assessment system for its sugar factories to ensure compliance with current discharge standards[150]. - The company has established an emergency response plan for environmental incidents, which was revised and approved by the Nanning Environmental Protection Bureau in June 2017[151]. Corporate Governance and Shareholder Relations - The company has committed to avoiding conflicts of interest and ensuring the protection of minority shareholders' rights in its future operations[112]. - The company has not proposed any plans for capital reserve transfers or stock dividends in the past three years[111]. - The company has maintained the same accounting policies and estimates compared to the previous financial report, with no changes noted[119]. - The company has confirmed that there are no similar businesses that could lead to substantial competition with Nanning Sugar Industry in the future[116]. - The company has not faced any penalties or rectification issues during the reporting period[127]. Subsidiaries and Related Party Transactions - The subsidiary Nanning Qiaohong New Materials Co., Ltd. reported a net profit of 9,054.57 million CNY, contributing over 10% to the company's net profit[94]. - The company reported significant related party transactions, with procurement from Guangxi Boxuan Food Co., Ltd. amounting to 186,893,400 CNY, representing 40.39% of similar transactions[129]. - The company has no significant related party transactions during the reporting period, including asset or equity acquisitions and joint external investments[132][133]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on market expansion strategies[188]. - The company plans to expand its market presence by entering two new provinces, aiming for a 5% market share increase in these regions within the next year[188]. - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 30% and reduce operational costs by 10%[188]. - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 25% over the next five years through improved production processes[188].

Financial Performance - The company's operating revenue for 2015 was ¥3,138,423,356.73, representing a 16.55% increase compared to ¥2,692,885,366.76 in 2014[20] - The net profit attributable to shareholders for 2015 was ¥59,804,932.10, a significant recovery from a loss of ¥286,667,055.70 in 2014, marking a 120.88% increase[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2015 was -72,072,955.64 CNY, a decrease of 77.38% compared to -318,440,570.50 CNY in 2014[21] - The net cash flow from operating activities for 2015 was 171,452,197.47 CNY, an increase of 118.62% compared to -920,776,347.55 CNY in 2014[21] - The basic earnings per share for 2015 was 0.19 CNY, a significant improvement of 119.00% from -1.00 CNY in 2014[21] - Total assets at the end of 2015 were 5,685,007,323.49 CNY, representing a 26.14% increase from 4,507,064,766.56 CNY at the end of 2014[21] - The net assets attributable to shareholders at the end of 2015 were 1,592,677,515.30 CNY, up 49.31% from 1,066,688,429.33 CNY at the end of 2014[21] - The company achieved a net profit of ¥54,255,481.75 from investment income, which accounted for 113.20% of total profit[65] - The company's EBITDA increased significantly by 1,723.83% year-on-year, reaching ¥34,603.82 million in 2015 compared to ¥1,897.32 million in 2014[157] - The net cash flow from investing activities decreased by 183.02% year-on-year, resulting in a net outflow of ¥87,081.62 million in 2015, while there was a net inflow of ¥104,895.66 million in 2014[157] - The net cash flow from financing activities increased by 298.31% year-on-year, amounting to ¥69,014.38 million in 2015, driven by a non-public stock issuance raising ¥5.07 billion and increased bank loans[158] Business Operations - The company has expanded its business scope to include the production and sale of food additives, specifically calcium oxide, as of May 27, 2015[18] - The company produced a total of 503,000 tons of mechanism sugar in 2015, including 486,700 tons of white sugar and 16,300 tons of red sugar[30] - The sugar industry contributed CNY 2,674,307,785.53, accounting for 85.21% of total revenue, with a year-on-year growth of 22.09%[48] - The paper industry revenue decreased by 31.67% to CNY 376,953,707.42, representing 12.01% of total revenue[48] - The transportation sector saw a significant increase in revenue by 115.86%, reaching CNY 280,678,393.66, which accounted for 8.94% of total revenue[48] - The company achieved a sugar sales volume of 546,500 tons with an average selling price of 5,261.24 yuan per ton, holding a 7.51% market share in Guangxi and 4.55% nationwide[43] - The company ranks fifth in sugar production within Guangxi for the 2014/2015 sugar production period[33] - The company has been recognized with multiple awards, including two Chinese famous brands and four national inspection-free products[37] Investments and Acquisitions - The company acquired 75% equity of Guangxi Huanjiang Yuanfeng Sugar Industry Co., Ltd. for 60 million yuan[35] - The company invested 105.19 million yuan in the boiler energy-saving technology upgrade and the first phase of the 10,000 tons cane processing project, resulting in fixed assets of 88.91 million yuan[35] - The company successfully auctioned fixed assets from Guangxi Yongkai Paper Group for 215.58 million yuan[35] - The company has ongoing significant non-equity investments, with a total investment of ¥624,780,090 for the sugar production and sales project, which is fully funded by the company's own resources[74] - The company completed the acquisition of a 75% stake in Guangxi Huanjiang Yuanfeng Sugar Industry Co., Ltd., enhancing its operational capacity[140] Market and Competition - The company's market share in Guangxi was 7.51%, while the national market share was 4.55%[33] - The sales model is transitioning from primarily direct sales to a combination of direct and distribution sales due to the impact of declining sugar prices[31] - The company is exposed to competition from both domestic and foreign sugar producers, which has intensified in recent years[92] - The company is actively seeking opportunities for cross-regional expansion to mitigate the impact of the current market downturn[89] Risk Management - The report includes a detailed section on future development and operational risks, emphasizing the importance of investor awareness regarding potential risks[5] - The company faces risks from natural disasters affecting sugarcane supply, which is critical for sugar production[90] - The company is affected by the linkage policy between sugarcane prices and sugar prices, which can lead to operational risks if sugar prices decline significantly[91] Corporate Governance - The company has maintained its status as a publicly listed entity without changes in its controlling shareholder[18] - The company has not engaged in any securities or derivative investments during the reporting period[76][77] - The company has not reported any changes in the use of raised funds during the reporting period[79] - The company has not encountered any significant changes in project feasibility or funding allocation during the reporting period[83] - The company has no stock incentive plans or employee shareholding plans in place[115] Shareholder Information - The largest shareholder, Nanning Zhenning Asset Management Co., Ltd., holds 42.20% of the shares, totaling 136,768,800 shares[176] - The company has a total of 41,542 shareholders at the end of the reporting period[176] - The company reported no changes in its controlling shareholder during the reporting period[179] - The actual controller, Nanning Municipal Government State-owned Assets Supervision and Administration Commission, holds 18.23% of Nanning Department Store Co., Ltd.[180] Future Outlook - The company plans to continue expanding its market presence and enhancing its production capabilities through strategic investments and upgrades[74] - The company expects a revenue guidance of CNY 1.8 billion for the next fiscal year, indicating a growth target of 20%[190] - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 15% over the next three years[190]