广东德美精细化工集团股份有限公司 2021 年第三季度报告 证券代码：002054 证券简称：德美化工 公告编号：2021-114 广东德美精细化工集团股份有限公司 2021 年第三季度报告 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。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 增减 | | 同期增减 | | 营业收入（元） | 493,935,192.40 | 1.64% | 1,439,923,392.32 ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 945.99 million, representing a 57.58% increase compared to CNY 600.32 million in the same period last year[22]. - The net profit attributable to shareholders of the listed company was approximately CNY 61.67 million, an increase of 25.40% from CNY 49.18 million in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 60.91 million, reflecting a significant increase of 69.44% compared to CNY 35.95 million in the same period last year[22]. - The company's revenue for the first half of 2021 increased by 57.58% compared to the same period last year, driven by significant sales growth in textile and leather chemicals[36]. - Operating profit rose by 67.96% year-on-year, primarily due to the increase in sales revenue[36]. - The gross profit margin decreased by 2.26% year-on-year, attributed to the rise in costs outpacing revenue growth[36]. - Basic earnings per share increased by 11.51% to CNY 0.1308 from CNY 0.1173 in the previous year[22]. - The company reported a total revenue of 519.28 million for the first half of 2021, with a net profit of 87.53 million, representing a decrease of 46.45 million compared to the previous period[76]. - The company reported a total revenue of 6,762.8 million CNY for the first half of 2021, representing an increase from 6,164.2 million CNY in the same period of 2020, indicating a year-over-year growth of approximately 9.7%[145]. - The net profit for the first half of 2021 was 5,786.0 million CNY, compared to 5,000.0 million CNY in the first half of 2020, reflecting a growth of about 15.6%[145]. Cash Flow and Assets - The net cash flow from operating activities decreased by 64.31%, amounting to approximately CNY 61.32 million, down from CNY 171.80 million in the previous year[22]. - Total assets at the end of the reporting period were approximately CNY 5.39 billion, a 35.74% increase from CNY 3.97 billion at the end of the previous year[22]. - The net cash flow from financing activities surged by 943.57% to ¥1,125,640,317.57, primarily due to funds raised from a private placement and new bank loans[51]. - The company's cash and cash equivalents increased to ¥1,134,953,699.55, up from ¥510,030,565.60, primarily due to capital increases and borrowings[60]. - Long-term borrowings rose significantly to ¥1,392,983,724.00, reflecting a 13.12% increase, mainly due to additional borrowings by Derong Chemical[60]. - The total value of restricted assets at the end of the reporting period is 31,316,482.09 CNY, including fixed assets of 5,987,275.33 CNY and intangible assets of 4,540,729.84 CNY, both secured by bank loans[63]. - The company's total liabilities increased to CNY 2,569,928,348.65 from CNY 1,502,078,639.95, indicating a rise of about 71.2%[188]. - Owner's equity reached CNY 2,823,755,394.68, up from CNY 2,471,516,411.38, showing a growth of about 14.2%[189]. Investment and R&D - Research and development investment rose by 36.25% to ¥51,125,917.29, reflecting the company's commitment to enhancing its R&D capabilities[51]. - The company is investing in research and development for new product lines, focusing on environmentally friendly chemical solutions[145]. - The company has made significant non-equity investments, with a total investment of 9,237,289.12 CNY in a self-built chemical plant, which is currently under construction[69]. - The company has a significant investment in the ethylene cracking by-product comprehensive utilization project, with a total investment of 1,377,764,100 CNY, currently at 77% completion[69]. Market Expansion and Strategy - The company is actively expanding into Southeast Asian markets, including Indonesia and Pakistan, to mitigate rising domestic production costs[44]. - The company is focused on becoming an internationally leading fine chemical company, emphasizing the development and expansion of its core business in fine chemicals[30]. - The company plans to expand its market presence by increasing production capacity and exploring new markets, particularly in Southeast Asia[145]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[145]. Environmental Compliance - The company has established a self-built wastewater treatment station to ensure compliance with discharge standards[88]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[87]. - Guangdong Demai Fine Chemical Group is committed to improving its environmental performance and compliance with pollution discharge standards[88]. - The company has implemented a two-stage acid mist spraying and activated carbon fiber adsorption system for exhaust gas treatment, with emissions from workshops reaching a height of 28 meters and a flow rate of 5,000 cubic meters per hour[90]. - The company has invested in environmental technology upgrades to further reduce pollutant emissions[93]. Corporate Governance and Shareholder Matters - The company did not distribute cash dividends or issue new shares from capital reserves for the reporting period[83]. - The company has not engaged in any securities or derivative investments during the reporting period[71][72]. - The company has a total of 12 million yuan in entrusted wealth management, with an expected annual return of 3.21% for one product and 3.80% for another[138]. - The company has not reported any significant contracts, leasing, or outsourcing arrangements during the reporting period[128][129][130]. - The company has not disclosed any market expansion or acquisition strategies during the reporting period[128]. Legal and Regulatory Matters - The company is involved in a significant lawsuit with a claim amount of 2,523.81 million yuan, which has been ruled in favor of the company, but part of the judgment is still in the execution process[118]. - No administrative penalties were reported for environmental issues during the reporting period for Guangdong Demai Fine Chemical Group Co., Ltd.[107]. - The semi-annual financial report has not been audited[115]. Operational Challenges - The company is facing risks from fluctuations in raw material prices, particularly petrochemical products, and aims to strengthen internal management to address these challenges[77]. - The company has identified intense competition in the mid-to-low-end petroleum resin market and emphasizes the need for innovation in product quality and customer service[77]. - The company reported a net loss of ¥182,478,683.35 for the first half of 2021, compared to a net profit of ¥49,098,086.10 in the same period of 2020, indicating a significant decline in profitability[200]. - Operating profit turned negative at ¥178,065,482.58, contrasting with an operating profit of ¥51,855,182.65 in the previous year, reflecting operational challenges[200].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥945.99 million, representing a 57.58% increase compared to ¥600.32 million in the same period last year[22]. - The net profit attributable to shareholders was approximately ¥61.67 million, up 25.40% from ¥49.18 million in the previous year[22]. - The net profit after deducting non-recurring gains and losses increased by 69.44%, reaching approximately ¥60.91 million compared to ¥35.95 million last year[22]. - Basic earnings per share rose by 11.51% to ¥0.1308 from ¥0.1173 in the same period last year[22]. - The company's total revenue for the first half of 2021 reached approximately CNY 941.39 million, representing a year-on-year increase of 69.56%[54]. - The gross margin for the first half of 2021 was reported at 35%, a slight improvement from 33% in the same period of 2020[144]. - The company reported a total comprehensive income of CNY 74,913,598.59, compared to CNY 46,139,042.32 in the previous year, reflecting a growth of 62.3%[195]. - The company reported a net loss of CNY 182,478,683.35 for the first half of 2021, compared to a net profit of CNY 49,098,086.10 in the same period of 2020, indicating a significant decline in performance[198]. Cash Flow and Assets - The net cash flow from operating activities decreased by 64.31%, amounting to approximately ¥61.32 million, down from ¥171.80 million in the previous year[22]. - Total assets at the end of the reporting period were approximately ¥5.39 billion, a 35.74% increase from ¥3.97 billion at the end of the previous year[22]. - The company's cash and cash equivalents increased to CNY 1.13 billion, up from CNY 510.03 million at the end of the previous year, primarily due to capital increases and borrowings[60]. - The company's total assets and liabilities will be detailed in the upcoming financial statements[181]. - Total liabilities amounted to CNY 2,569,928,348.65, up from CNY 1,502,078,639.95, indicating an increase of around 71.2%[186]. Operational Efficiency and Management - The company plans to strengthen customer credit management to mitigate risks associated with customer operational difficulties[6]. - The company will enhance internal management to track raw material price trends and take timely measures to reduce risks from price fluctuations[6]. - The company is focusing on innovation and quality improvement in its subsidiary De Rong Chemical's competitive landscape in the ethylene cracking by-products sector[77]. - The company is implementing new strategies to improve operational efficiency, targeting a reduction in production costs by 5% by the end of 2021[144]. Environmental Management - The company will increase investment in environmental protection facilities to comply with tightening environmental policies[8]. - The company has implemented a self-built wastewater treatment facility, ensuring that wastewater meets the discharge standards before entering the municipal sewer system[88]. - The company has established a hazardous waste management system, including a temporary storage room and agreements with qualified disposal companies[93]. - The company has made significant investments in environmental protection technologies, including the upgrade of its boiler system to use natural gas instead of diesel[100]. Investments and Strategic Initiatives - The company is actively expanding into Southeast Asian markets, including Indonesia, Pakistan, and India, to mitigate rising domestic production costs[44]. - The company is developing a C5/C9 comprehensive utilization project in collaboration with Zhejiang Petrochemical, with an initial phase targeting 500,000 tons/year of C5 separation and 70,000 tons/year of C5 resin production[35]. - The company plans to enhance customer credit management to mitigate risks associated with accounts receivable due to potential operational difficulties faced by clients[77]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach, with a focus on companies in the specialty chemicals sector[144]. Shareholder and Governance - The company does not plan to distribute cash dividends or issue bonus shares for the half-year period[83]. - The company held its annual general meeting with a participation rate of 45.55% on March 29, 2021[81]. - The company appointed a new general manager, Huang Guanyong, and a new deputy general manager, Huang Shangdong, following the board's re-election[82]. - The company has not engaged in any securities or derivative investments during the reporting period[71][72]. Related Party Transactions - The company has engaged in related party transactions, with a total transaction amount of 303.41 million yuan, representing 25.24% of the approved transaction limit[121]. - The company has a related party transaction involving interest income from financial management, amounting to 75.55 million yuan, which is 16.49% of the approved transaction limit[121]. Legal and Compliance - The company reported a significant litigation case involving a claim amount of 25.24 million yuan, which is not expected to form a liability[119]. - There were no penalties or rectification measures reported during the reporting period[120]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[109].

Financial Performance - The company's operating revenue for 2020 was ¥1,626,081,060.62, representing a 3.49% increase compared to ¥1,571,312,189.59 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥116,390,877.53, a 5.68% increase from ¥110,132,083.85 in 2019[20]. - The net cash flow from operating activities increased by 14.71% to ¥203,918,117.88 in 2020, up from ¥177,766,471.68 in 2019[20]. - The total assets of the company at the end of 2020 were ¥3,973,595,051.33, a 31.04% increase from ¥3,032,237,689.61 at the end of 2019[21]. - The basic earnings per share for 2020 was ¥0.28, reflecting a 7.69% increase from ¥0.26 in 2019[20]. - The weighted average return on equity for 2020 was 6.09%, slightly up from 5.99% in 2019[20]. - The company reported a net profit of ¥68,614,229.04 in Q3 2020, but a loss of ¥1,402,128.88 in Q4 2020[24]. - The company achieved a net profit attributable to shareholders of 116,390,877.53 yuan in 2020, with a profit distribution plan proposing a cash dividend of 0.7 yuan per 10 shares, totaling 33,748,081.64 yuan[131]. - The cash dividend for 2020 represents 29.00% of the net profit attributable to shareholders, compared to 18.27% in 2019 and 44.17% in 2018[127]. Business Strategy and Focus - The company divested its 95.71% stake in Guangdong Yingnong Group, focusing on its core business in fine chemicals, including textile chemicals, leather chemicals, and petroleum fine chemicals[19]. - The company’s core business remains focused on the production of fine chemicals, with a strategic shift away from the agricultural and food sectors[19]. - The company aims to enhance the comprehensive utilization level of ethylene cracking by-products and strengthen the development of high-value-added products in the C5 and C9 industry[39]. - The company is actively expanding into Southeast Asian markets, including Indonesia, Pakistan, India, Bangladesh, Thailand, and Vietnam, to adapt to the shifting production bases of domestic dyeing enterprises[45]. - The company plans to expand its market presence through strategic acquisitions and partnerships, focusing on organic silicon products and fine chemicals[105]. - The company is exploring new strategies for market expansion, including potential mergers and acquisitions to strengthen its market position[105]. Research and Development - The company has established a national-level technology center and various research institutions, enhancing its R&D capabilities and accelerating technological innovation[44]. - The company launched over 60 new products in 2020 and conducted more than 20 application research projects, significantly enhancing product sales and company image[77]. - The company is focusing on developing new textile auxiliaries and functional products to meet the increasing demand for energy-saving and environmentally friendly solutions[37]. - The company has a total of 73 granted invention patents and 52 utility model patents for textile chemicals as of the reporting period[55]. - The company is actively investing in new product development and technological advancements to enhance its competitive edge in the market[105]. Market Trends and Risks - The company acknowledges risks related to changes in the operating environment, including labor costs and environmental treatment costs[6]. - The global leather production is expected to maintain steady growth, driven by increasing consumer demand for diverse and high-quality leather products[38]. - The textile chemical industry is projected to continue growing, despite pressures from Southeast Asia's textile sector and increasing environmental regulations[36]. - The company recognizes the competitive risks in the ethylene cracking by-products sector and will focus on innovation and customer service[117]. Financial Management and Investments - The company raised a total of ¥462,201,986.40 through a non-public stock issuance, with a net amount of ¥441,014,264.00 after deducting issuance costs, aimed at optimizing capital structure and improving debt repayment capacity[51]. - The company invested ¥1.6 billion in Zhejiang Derong Chemical Co., Ltd. and an additional ¥400 million in August, totaling ¥2 billion in capital contributions during the first half of 2020[41]. - The company reported a significant increase in construction in progress, rising to ¥740,839,131.00, which represents 18.64% of total assets[87]. - The company reported a total investment for the period reached ¥1,160,774,026.13, marking a 211.26% increase compared to the previous year[92]. - The company is exploring various banking relationships to enhance its financial flexibility and support future expansions[197]. Operational Efficiency - The company is focusing on market expansion and new product development as part of its strategic initiatives for future growth[164]. - The company is committed to maintaining a robust cash management strategy to mitigate financial risks[182]. - The company has reported a significant increase in operational efficiency, achieving a cost reduction of 5.00% in production expenses compared to the previous year[194]. - The company aims to enhance operational efficiency through the implementation of new technologies in production processes[188]. Corporate Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[5]. - The independent directors actively participated in the formulation of the profit distribution policy, ensuring compliance and fairness[124]. - The company has maintained compliance with legal regulations and internal procedures regarding external guarantees[175]. - The company has not faced any delisting situations following the annual report disclosure[154]. Future Outlook - The company has set a performance guidance for the upcoming year, aiming for a revenue growth of 5.27%[104]. - Future guidance indicates an optimistic outlook, projecting a revenue growth of approximately 10% for the next fiscal year[188]. - The company plans to enhance its organizational structure and internal management while advancing its petrochemical projects[114]. - The company aims to strengthen strategic cooperation with major clients in the leather chemicals sector through various collaborative initiatives[111].

Financial Performance - The company's revenue for Q1 2021 was CNY 407,278,468.97, representing a 52.82% increase compared to CNY 266,501,101.34 in the same period last year[8]. - Net profit attributable to shareholders was CNY 32,000,861.67, up 36.29% from CNY 23,480,714.87 year-on-year[8]. - The net profit after deducting non-recurring gains and losses surged by 176.48% to CNY 31,286,715.15 from CNY 11,316,003.12 in the previous year[8]. - The company's operating profit for Q1 2021 was RMB 48.17 million, a 91.44% increase from RMB 25.16 million in the same period last year[17]. - Net profit rose by 51.68% to 29,112,322.51, reflecting the increase in total profit[22]. - Total comprehensive income for the period was CNY 42.07 million, compared to CNY 20.91 million in the same quarter of the previous year, reflecting a growth of 101.5%[62]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 60.88% to CNY 15,608,945.21, compared to CNY 9,701,937.78 in the same period last year[8]. - The company's cash and cash equivalents increased by 102.10% to RMB 1.03 billion, primarily due to a targeted issuance and loans received[15]. - Cash flow from operating activities improved by 34.38%, reaching CNY 15.94 million[24]. - Cash and cash equivalents at the end of Q1 2021 totaled CNY 1,025,237,266.85, compared to CNY 473,530,139.90 at the end of Q1 2020, reflecting a 116.4% increase[70]. - The company experienced a 273.68% increase in cash and cash equivalents, totaling 618,080,726.76, mainly due to funds received from a private placement[20]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 5,070,376,859.97, a 27.60% increase from CNY 3,973,595,051.33 at the end of the previous year[8]. - The total liabilities increased to CNY 2,117,830,191.20 from CNY 1,502,078,639.95 year-over-year[54]. - The company's total assets reached CNY 5,070,376,859.97 as of March 31, 2021, compared to CNY 3,973,595,051.33 at the end of 2020[54]. - Short-term borrowings increased to ¥409,749,614.32 from ¥338,072,174.92, an increase of 21.2%[52]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,463[10]. - The company reported a commitment to distribute at least 30% of the annual distributable profits in cash over the last three years[36]. - The company has a lock-up period for newly issued A shares, which prohibits transfer for 6 months from the listing date[35]. Investment and R&D - Research and development expenses rose by 32.80% to RMB 23.47 million, reflecting increased investment in R&D[16]. - The company is focusing on new product development and technological advancements in the chemical sector[33]. - The company plans to increase investment in its subsidiary Zhongwei Chemical by up to CNY 360 million, which may include debt-to-equity swaps[31]. Governance and Compliance - The company held its annual shareholders' meeting on March 29, 2021, to elect members of the seventh board of directors and supervisors[32]. - The company is committed to enhancing its internal audit and financial management processes[33]. - The company has established a commitment to allocate profits after legal reserves and discretionary reserves are set aside[36].

Financial Performance - The company's operating revenue for 2020 was ¥1,626,081,060.62, representing a 3.49% increase compared to ¥1,571,312,189.59 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥116,390,877.53, which is a 5.68% increase from ¥110,132,083.85 in 2019[19]. - The net cash flow from operating activities increased by 14.71% to ¥203,918,117.88 in 2020, up from ¥177,766,471.68 in 2019[19]. - The total assets at the end of 2020 were ¥3,973,595,051.33, a 31.04% increase from ¥3,032,237,689.61 at the end of 2019[20]. - The net assets attributable to shareholders increased by 4.04% to ¥1,941,172,736.45 at the end of 2020, compared to ¥1,865,800,196.07 at the end of 2019[20]. - The basic earnings per share for 2020 was ¥0.28, reflecting a 7.69% increase from ¥0.26 in 2019[19]. - The company reported a total of ¥28,243,120.05 in non-recurring gains and losses for 2020, compared to ¥24,423,413.30 in 2019[25]. - The company reported a net profit of 31,697,656 yuan, representing a profit margin of approximately 17.6%[104]. - The company reported a net profit margin of 8.72% for the year 2020, indicating a stable performance compared to previous periods[184]. Dividends and Shareholder Returns - The company reported a cash dividend of 0.7 RMB per 10 shares (including tax) based on a total share capital of 482,115,452 shares[8]. - In 2020, the company distributed a cash dividend of 0.7 CNY per 10 shares, totaling 33,748,081.64 CNY, with a remaining undistributed profit of 1,241,968,328.65 CNY[124]. - The cash dividend for 2019 was 0.48 CNY per 10 shares, amounting to 20,123,079.74 CNY, with an undistributed profit of 1,165,236,899.93 CNY[124]. - The total cash dividends over the last three years accounted for 29.00% of the net profit attributable to shareholders in 2020, 18.27% in 2019, and 44.17% in 2018[125]. - The company has a policy to maintain a minimum cash dividend ratio of 40% during its mature development stage[128]. - The company committed to distributing at least 10% of its distributable profits as cash dividends annually, with a minimum of 30% over the last three years (2017-2019) if profits are positive[133]. Business Strategy and Focus - The company divested its 95.71% stake in Guangdong Yingnong Group, focusing on its core business in fine chemicals, including textile chemicals, leather chemicals, and petroleum fine chemicals[18]. - The company aims to improve its financial performance by focusing on its main business operations and expanding its market presence[18]. - The company is focusing on developing new textile auxiliaries and functional products to meet the growing demand for energy-saving and environmentally friendly solutions in the textile industry[36]. - The company plans to focus on its core chemical business, stabilizing its fine chemical products while divesting from underperforming sectors such as agricultural and food businesses[108]. - The company is actively expanding into Southeast Asian markets, including Indonesia, Pakistan, and India, to adapt to the shifting production bases of domestic dyeing enterprises[44]. - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[58]. Research and Development - The company emphasized the need for innovation and quality improvement in the competitive market of ethylene cracking by-products and mid-to-low-end petroleum resins[6]. - The company highlighted the importance of R&D innovation and customer service to gain core competitiveness in its new business areas[6]. - The company has established a national-level technology center and provincial engineering research center, enhancing its R&D capabilities in textile auxiliaries[43]. - The company launched over 60 new products and conducted more than 20 application research projects in 2020[75]. - The company applied for 35 invention patents and 20 utility model patents in the past two years, with a total of 82 valid invention patents granted[76]. - The company plans to enhance its research and development capabilities by building a professional and innovative R&D team, focusing on key technologies and products[114]. Risk Management - The company acknowledged various risks, including changes in the operating environment, new business risks, safety production risks, and raw material price volatility risks[6]. - The company plans to strengthen credit management to mitigate risks associated with customer operational difficulties and potential increases in bad debt rates[6]. - The company is committed to enhancing safety production management to control risks inherent in the chemical industry[7]. - The company faces risks from rising labor, environmental, and capital costs, which could impact accounts receivable and increase bad debt rates[116]. - The company recognizes the competitive risks in the ethylene cracking by-products sector and aims to innovate in product quality and customer service[116]. Market Trends and Industry Outlook - The leather chemicals industry is expected to maintain stable growth globally, driven by increasing consumer demand for diverse and high-quality leather products[37]. - The company’s textile chemicals are influenced by the growth of the textile industry, with a stable demand expected despite pressures from Southeast Asia and environmental regulations[35]. - The company aims to enhance the comprehensive utilization level of ethylene cracking by-products and strengthen the development of high value-added products in the C5 and C9 industry[38]. - Future guidance suggests a revenue growth target of 15% for the next fiscal year, driven by new product launches[184]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 15% increase in market penetration by 2022[185]. Operational Efficiency and Cost Management - The company has implemented measures to enhance operational efficiency and reduce costs by 3.39%[102]. - The company reported a significant increase in operational efficiency, reducing costs by 8% through process optimization[197]. - The company is investing in technology upgrades to improve operational efficiency and customer service[184]. - The company aims to enhance its supply chain efficiency to better meet market demands[191]. Asset Management and Investments - The company invested ¥1 billion in various projects, including ¥330 million in Dewei Chuang Technology and ¥1.6 billion in Zhejiang Derong Chemical[40]. - The company raised a total of ¥462,201,986.40 through a non-public stock issuance, with a net amount of ¥441,014,264.00 after deducting issuance costs[50]. - The company has ongoing construction projects for an additional 5.2 million tons of textile chemicals and 1 million tons of leather chemicals[54]. - The company has established a guarantee management system to effectively control the risks associated with external guarantees[177]. Compliance and Governance - The company’s financial report was confirmed to be true, accurate, and complete by its board of directors and management[5]. - Independent directors actively participated in the formulation of the profit distribution policy, ensuring compliance and fairness in the decision-making process[122]. - The company has not faced any delisting risks or bankruptcy restructuring matters during the reporting period[155]. - The company has not reported any performance commitments related to its transactions during the reporting period[165].

广东德美精细化工集团股份有限公司 2020 年第三季度报告全文 广东德美精细化工集团股份有限公司 2020 年第三季度报告 2020-086 2020 年 10 月 1 广东德美精细化工集团股份有限公司 2020 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。 公司负责人黄冠雄、主管会计工作负责人何国英及会计机构负责人(会计主 管人员)徐伟声明：保证季度报告中财务报表的真实、准确、完整。 2 广东德美精细化工集团股份有限公司 2020 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减 | | | --- | --- | --- | --- | --- | | 总资产（元） | 3,527,605,487.95 | 3,032,237,689.61 | | 16.34% | | 归属于 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥600,317,326.03, a decrease of 16.67% compared to ¥720,396,072.29 in the same period last year[16]. - The net profit attributable to shareholders was ¥49,178,777.37, down 3.37% from ¥50,893,514.89 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥35,950,564.89, representing a decline of 19.82% compared to ¥44,839,178.88 in the same period last year[16]. - The basic earnings per share decreased to ¥0.1173 from ¥0.1214, a decline of 3.38%[16]. - The total comprehensive income for the first half of 2020 was ¥46,139,042.32, compared to ¥62,663,254.43 in the same period last year, a decrease of 26.51%[189]. - The company reported a decrease in sales expenses to ¥59,312,859.26 from ¥71,066,423.91, a reduction of 16.54%[186]. - The tax expense for the first half of 2020 was ¥11,409,768.56, compared to ¥10,564,143.38 in the previous year, an increase of 7.99%[188]. - The net cash flow from operating activities increased significantly by 221.11% to ¥171,803,836.45 from ¥53,503,160.06 in the previous year[16]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,133,814,627.61, an increase of 3.35% from ¥3,032,237,689.61 at the end of the previous year[16]. - The net assets attributable to shareholders increased by 0.83% to ¥1,881,267,887.56 from ¥1,865,800,196.07 at the end of the previous year[16]. - The company's short-term borrowings decreased by 2.08% to 179,342,546.3 yuan, while long-term borrowings increased by 1.34% to 305,941,486.3 yuan[52]. - Total liabilities decreased to CNY 904,622,991.19 from CNY 935,326,453.50, a reduction of about 3.3%[180]. - Current liabilities amounted to CNY 587,410,164.49, down from CNY 693,272,621.38, showing a decrease of approximately 15.3%[180]. Investment and R&D - Research and development investment decreased by 15.10% year-on-year, totaling ¥37,524,124.10[43]. - The company is actively engaged in the research and development of new products, particularly in the field of fine chemicals and additives[73]. - The company has established a national-level enterprise technology center and various research platforms to enhance its R&D capabilities and innovation[33]. Market Expansion and Business Strategy - The company is expanding its market presence in Southeast Asia, establishing production bases and sales subsidiaries in countries like Indonesia, Pakistan, and Vietnam[34]. - The company plans to focus on core business by disposing of Guangdong Yingnong Group Co., Ltd. and its subsidiaries, which is expected to benefit overall production and operations[75]. - The company is actively pursuing mergers and acquisitions to enhance its competitive position in the market[118]. - The company plans to expand its market presence by focusing on the production of environmentally friendly refrigerants and other chemical products[73]. Risks and Challenges - The company faces significant risks including changes in the operating environment and fluctuations in raw material prices[5]. - The company anticipates risks from changes in the operating environment, including increased labor, environmental treatment, and financing costs, which may affect accounts receivable and increase bad debt rates[76]. - Safety production risks are inherent in the chemical industry, prompting the company to strengthen safety management and implement relevant measures[77]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[125]. - The average chemical oxygen demand (COD) discharge from the wastewater treatment station was 1.9 tons, with an annual total of 8.46 tons, below the standard limit of 8.46 tons/year[126]. - The company has implemented a dual-alkali desulfurization facility for sulfur dioxide emissions from the waste acid cracking process[133]. - The company conducts manual monitoring of wastewater and air emissions quarterly, with specific pollutants monitored including pH, CODcr, BOD5, and VOCs[139]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 32,196[158]. - Huang Guanhong held 22.28% of the shares, amounting to 93,406,342 shares[158]. - The company's total share capital remains at 419,230,800, with no new shares issued or other changes[156]. Financial Management - The company has engaged in various related party transactions, with a total amount of 814.73 million yuan reported[92]. - The company has provided external guarantees totaling 768.35 million yuan during the reporting period, with an approved guarantee limit of 3,000 million yuan[104]. - The company has entrusted CNY 196 million in financial products sourced from its own idle funds, with an outstanding balance of CNY 80 million[110].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥600,317,326.03, a decrease of 16.67% compared to ¥720,396,072.29 in the same period last year[16]. - The net profit attributable to shareholders was ¥49,178,777.37, down 3.37% from ¥50,893,514.89 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was ¥35,950,564.89, representing a decline of 19.82% compared to ¥44,839,178.88 in the previous year[16]. - The basic earnings per share were ¥0.1173, a decrease of 3.38% from ¥0.1214 in the same period last year[16]. - The company reported a total revenue of 434.27 million RMB for the first half of 2020[73]. - The company reported a net profit of 1,200 million RMB in the first half of 2020, representing a growth of 15% compared to the same period in 2019[119]. - The total comprehensive income for the first half of 2020 was CNY 46,139,042.32, a decrease of 26.51% from CNY 62,663,254.43 in the previous year[191]. - The company reported a total comprehensive income of CNY 48,714,949.18 for the first half of 2020, compared to CNY 45,079,841.44 in the same period of 2019[195]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 221.11%, reaching ¥171,803,836.45, compared to ¥53,503,160.06 in the same period last year[16]. - The company's cash and cash equivalents at the end of the reporting period amounted to CNY 460,467,264.80, representing 14.69% of total assets, an increase from 12.65% in the previous year[53]. - The company reported a significant increase in cash flow from operating activities, which rose by 221.11% year-on-year to ¥171,803,836.45, mainly due to an increase in the net amount of receivables collected[44]. - Cash and cash equivalents increased to CNY 460,467,264.82 from CNY 399,300,748.59, reflecting a growth of about 15.3%[180]. - The company reported a tax expense of CNY 1,122,992.45 for the first half of 2020, down from CNY 3,946,340.46 in the same period of 2019[194]. Investments and Acquisitions - The company has invested CNY 1.6 billion in Zhejiang Derong Chemical Co., Ltd. for the ethylene cracking by-product utilization project, which is expected to generate high-value derivatives[30]. - The company acquired Mingren Fine Chemical (Jiaxing) Co., Ltd. in 2011, becoming one of the first domestic producers of fluorinated waterproof agents, achieving international performance standards[26]. - The company reported an investment income of CNY 34,261,986.18, which is an increase of 83.73% from CNY 18,634,321.99 in the previous year[188]. - The company has allocated 200 million RMB for R&D in new technologies aimed at improving production efficiency by 30%[119]. - The company is exploring potential mergers and acquisitions to enhance its supply chain, with a budget of 1 billion RMB set aside for this purpose[119]. Market Presence and Strategy - The company is expanding its market presence in Southeast Asia, including Indonesia, Pakistan, and India, to adapt to the shifting production bases of domestic dyeing enterprises[34]. - The company is actively expanding its market presence in the leather chemicals sector by restoring strategic customer orders and enhancing customer relationships[40]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2021[119]. - The company is focusing on the development and production of environmentally friendly refrigerants and chemical products[76]. - The company aims to increase its market share in the financial services sector by launching new financial products[115]. Risks and Challenges - The company faces significant risks including changes in the operating environment and fluctuations in raw material prices[5]. - The company faces risks from changes in the operating environment, including rising labor, environmental, and financing costs, which could impact accounts receivable and increase bad debt rates[78]. - New business risks are present in the competitive field of ethylene cracking by-products, necessitating innovation in product quality, R&D, customer development, and after-sales service[78]. - Safety production risks are inherent in the chemical industry, prompting the company to strengthen safety management and implement relevant measures[79]. - Fluctuations in raw material prices pose a risk due to uncertain economic conditions, with the company planning to enhance internal management and monitor price trends to mitigate impacts[79]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[127]. - The company has implemented pollution prevention facilities at its Shunde factory[129]. - The company’s wastewater treatment meets the discharge standards, with COD at 269.14 mg/L and ammonia nitrogen at 0.06 tons, totaling 1.05 tons annually[129]. - The company has reported no exceedances in pollutant discharge limits across various categories[129]. - The company’s environmental monitoring activities comply with national technical standards, utilizing both manual and automatic monitoring methods[144]. Shareholder Information - The company’s total share capital is 419,230,800 shares, with 25.91% being limited shares and 74.09% being unrestricted shares[158]. - The total number of common shareholders at the end of the reporting period was 32,196[160]. - Huang Guanhong holds 22.28% of shares, totaling 93,406,340 shares[160]. - The company did not conduct any repurchase transactions during the reporting period[162]. - There were no changes in the controlling shareholder or actual controller during the reporting period[163].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥600,317,326.03, a decrease of 16.67% compared to ¥720,396,072.29 in the same period last year[16]. - The net profit attributable to shareholders was ¥49,178,777.37, down 3.37% from ¥50,893,514.89 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was ¥35,950,564.89, a decline of 19.82% compared to ¥44,839,178.88 in the previous year[16]. - The company's revenue for the first half of 2020 decreased by 16.67% year-on-year, amounting to ¥600,317,326.03, primarily due to the impact of the pandemic and a decline in entrusted processing volume at Zhongwei Chemical[39]. - Gross profit margin increased by 3 percentage points year-on-year, attributed to a decrease in the sales revenue proportion of low-margin products from Zhongwei Chemical[39]. - Operating profit decreased by 19.16% year-on-year, mainly due to the reduction in sales revenue[39]. - The company reported a total investment of 1,900,400 yuan in the Shaoxing Bin Hai factory project, with a cumulative investment of 5,236,538.76 yuan, achieving 50% project progress[64]. - The company reported a total revenue of 5,000 million RMB for the first half of 2020, reflecting a growth of 3.35% compared to the previous period[116]. - The company achieved a net profit of 1,150 million RMB in the first half of 2020, marking a year-on-year growth of 98.18%[121]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 221.11%, reaching ¥171,803,836.45, compared to ¥53,503,160.06 in the same period last year[16]. - The company's total assets at the end of the reporting period amounted to 3,136,000,000.00 CNY, with cash and cash equivalents accounting for 14.69% of total assets, up from 12.65% in the previous year[53]. - The company's cash and cash equivalents increased to CNY 460,467,264.82 from CNY 399,300,748.59 at the end of 2019, reflecting a growth of approximately 15.3%[181]. - The total cash inflow from operating activities was CNY 634,852,296.19, compared to CNY 588,421,445.22, indicating stable revenue generation[199]. - The cash outflow for purchasing fixed assets and other long-term assets was CNY 309,377,101.48, significantly higher than CNY 60,893,483.12, reflecting ongoing investment in infrastructure[199]. Investments and Acquisitions - The company has invested 1.6 billion yuan in Zhejiang Derong Chemical Co., Ltd. for the ethylene cracking by-product utilization project, indicating a strategic focus on high-value derivatives[30]. - The company is actively pursuing mergers and acquisitions to strengthen its market position[74]. - The company is exploring potential mergers and acquisitions to further enhance its product portfolio and market reach, with a focus on companies in the specialty chemicals sector[127]. - The company has allocated 600 million RMB for new product development and technology upgrades in 2020[116]. - The company has secured a credit line of 4,000 million RMB from a commercial bank to support its operational and expansion activities[122]. Market Expansion and Strategy - The company is actively expanding into Southeast Asian markets, including Indonesia, Pakistan, and India, to adapt to the shifting production bases of domestic dyeing enterprises[34]. - The company is focusing on expanding its market presence and enhancing its product offerings through strategic investments and partnerships[95]. - Future guidance indicates a positive outlook for revenue growth and market expansion[74]. - The company plans to continue its investment in new technologies and product innovation[74]. - The company aims to increase its market share by 10% in the next fiscal year through strategic partnerships and product innovation[116]. Research and Development - The company has established a national-level enterprise technology center and provincial engineering technology research center, enhancing its R&D capabilities and innovation[33]. - The company is focusing on the research and development of new products to enhance its competitive edge in the fine chemical industry[122]. - The company has allocated 200 million RMB for research and development in new technologies for sustainable chemical production[127]. - Research and development expenses for the first half of 2020 were CNY 37,524,124.10, a decrease of 15.03% from CNY 44,197,105.32 in the first half of 2019[189]. Risk Management - The company highlighted risks including changes in the operating environment and fluctuations in raw material prices, with corresponding mitigation strategies outlined[5]. - The company is focusing on credit management to mitigate risks associated with increased labor, environmental, and capital costs that could affect customer operations and accounts receivable[80]. - Safety production risks are inherent in the chemical industry, prompting the company to enhance safety management measures[81]. - Fluctuations in raw material prices, particularly those based on oil, pose a significant risk, which the company aims to mitigate through improved internal management and monitoring[81]. Environmental Compliance - The average chemical oxygen demand (COD) discharge concentration was reported at 49.5 mg/L, which is below the regulatory limit of 90 mg/L, indicating compliance with environmental standards[130]. - The company has implemented a comprehensive environmental monitoring plan, combining manual and automatic monitoring techniques[147]. - The company’s wastewater and exhaust emissions are monitored according to national technical specifications[147]. - The company is classified as a key pollutant discharge unit by environmental authorities, indicating its significant impact on local environmental conditions[130]. Shareholder and Governance - The company did not distribute cash dividends or issue bonus shares for the half-year period[85]. - The company has committed to a differentiated cash dividend policy based on its development stage and capital expenditure plans, with minimum cash dividend ratios set at 20% to 80% depending on circumstances[87]. - The company’s shareholder structure includes significant holdings from Foshan Shunde Changlianrong Investment Co., Ltd. at 13.11% and He Guoying at 10.10%[162]. - The company’s total number of ordinary shareholders at the end of the reporting period was 32,196[162].