广东德美精细化工集团股份有限公司 2018 年半年度报告全文 广东德美精细化工集团股份有限公司 2018 年半年度报告 2018-071 2018 年 08 月 1 广东德美精细化工集团股份有限公司 2018 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人黄冠雄、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)周红艳声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均出席了审议本报告的董事会会议，其中董事范小平先生、高明 涛先生以通讯方式出席本次会议，其余董事均以现场方式出席本次会议。 公司在本报告中涉及未来的经营计划和经营目标等前瞻性陈述，不构成公 司对投资者的实质承诺。该未来经营计划和经营目标能否实现，取决于市场状 况变化等多种因素，存在一定的不确定性，请投资者注意投资风险。 公司需遵守《深圳证券交易所行业信息披露指引第 1 号——上市公司从事 畜禽、水产养殖业务》的披露要求 公司需要请投资者特别关注的重大风险包括：1、 ...

Financial Performance - The company's operating revenue for Q1 2018 was ¥341,485,077.45, a decrease of 46.20% compared to ¥634,714,634.07 in the same period last year[7] - The net profit attributable to shareholders was ¥2,772,878.57, down 35.92% from ¥4,326,985.89 year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,214,281.94, a significant increase of 142.99% compared to a loss of ¥5,150,880.96 in the previous year[7] - The basic earnings per share were ¥0.0066, down 35.92% from ¥0.0103 in the same period last year[7] - The diluted earnings per share were also ¥0.0066, reflecting the same percentage decrease as basic earnings per share[7] - The weighted average return on equity was 0.16%, down from 0.24% in the previous year[7] - Net profit decreased by 64.02% to ¥2,097,313.33, driven by the decline in total profit[16] - Total profit decreased by 47.48% to ¥11,082,488.05, reflecting the decline in sales revenue and investment income[21] Cash Flow and Assets - The net cash flow from operating activities improved to -¥9,242,720.92, a 74.30% increase from -¥35,959,939.65 in the same period last year[7] - The total assets at the end of the reporting period were ¥2,976,397,711.75, a decrease of 1.14% from ¥3,010,847,580.74 at the end of the previous year[7] - The net assets attributable to shareholders increased slightly to ¥1,783,505,986.60, up 0.12% from ¥1,781,332,421.75 at the end of the previous year[7] - Cash received from operating activities decreased by 67.34% to ¥114,130,027.02 due to reduced intercompany transactions[22] - Cash paid for operating activities decreased by 80.42% to ¥71,486,563.46, also due to lower intercompany transactions[22] Revenue and Costs - The company's operating revenue decreased by 46.20% to ¥341,485,077.45 compared to the previous year, primarily due to a change in business model[15] - Operating costs fell by 53.06% to ¥251,305,211.66, reflecting the same business model change that impacted revenue[15] - Cash received from sales decreased by 47.57% to ¥339,695,300.40, attributed to reduced operating income[17] - Sales expenses decreased by 36.70% to ¥2,715,916.22 due to a reduction in sales revenue[20] Investments and Financial Activities - The company reported a significant increase in cash recovered from investments, rising by 1527.34% to ¥138,158,771.18, due to the recovery of structured deposits[17] - The cash paid for investments surged by 819.24% to ¥88,000,000.00, reflecting significant investment activities during the period[18] - Investment income fell by 40.20% to ¥10,317,361.16, attributed to no reduction in shares of Aoke during the current period[20] - The total assets impairment loss decreased by 72.62% to ¥1,364,211.59, indicating lower provisions compared to the previous year[15] Shareholder Activities - The company’s major shareholder, Huang Guanhong, intends to increase his stake in the company by purchasing shares worth up to RMB 10 million within three months starting from February 9, 2018[34] - The company’s shareholder, Ye Yuanzhang, plans to purchase shares worth up to RMB 30 million within three months starting from February 12, 2018[34] - The company has committed to distribute cash dividends amounting to at least 10% of the distributable profits each year, with a cumulative distribution of at least 30% of the average distributable profits over the last three years[34] - The company has established a differentiated cash dividend policy based on its development stage, profitability, and major capital expenditure arrangements[34] Business Developments - The company plans to increase its business scope to include "leasing of self-owned properties and property management" following board and shareholder approvals[24] - The company has invested ¥1,000,000 in Yibin King Diamond New Materials Co., Ltd., holding a 10% stake in the joint venture[29] - Guangdong Demai Fine Chemical Group Co., Ltd. plans to increase its business scope to include "leasing of self-owned properties and property management" as approved in the board meeting on March 8, 2018[34] Compliance and Commitments - There are no violations regarding external guarantees during the reporting period[37] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[38] - The company did not engage in any research, communication, or interview activities during the reporting period[40] - The company has fulfilled its commitments on time without any overdue obligations[35] Future Outlook - The report indicates a stable outlook for the company's financial performance in the upcoming periods[36] - The net profit attributable to shareholders for the first half of 2018 is expected to range from 16.50 million to 29.00 million CNY, representing a decrease of 35.22% to an increase of 13.86% compared to the same period in 2017[36] - Losses from the company's subsidiaries, Yingnong Group and Zhongwei Chemical, have decreased compared to the same period last year[36] - The company is in a mature development stage and has significant capital expenditure plans[35] - The company has committed to a minimum cash dividend distribution of 40% for mature development stages and 20% for growth stages when significant capital expenditures are planned[35]

Financial Performance - The company's operating revenue for 2017 was approximately ¥2.46 billion, an increase of 1.81% compared to ¥2.41 billion in 2016[15]. - The net profit attributable to shareholders decreased by 79.80% to approximately ¥30 million from ¥148 million in 2016[15]. - The net profit after deducting non-recurring gains and losses was approximately ¥20 million, down 55.83% from ¥46 million in 2016[15]. - The net cash flow from operating activities was approximately ¥93 million, a decrease of 47.32% compared to ¥177 million in 2016[15]. - Basic earnings per share dropped by 80.00% to ¥0.07 from ¥0.35 in 2016[15]. - The company's total revenue for 2017 was approximately CNY 2.37 billion, with a year-on-year increase of 2.22%[57]. - The chemical manufacturing segment contributed 96.47% of total revenue, with a year-on-year increase of 2.22%[56]. - The revenue from the agricultural and livestock food segment decreased by 9.42% year-on-year, contributing 3.49% to total revenue[56]. - The company reported a significant increase in inventory for cyclopentane, up 1943.75% year-on-year, due to continuous price increases[59]. - The company reported a net profit of 14,620,547.2 CNY from its subsidiary Shaoxing Keqiao Demai Chemical Co., accounting for over 10% of the overall net profit[101]. Assets and Liabilities - Total assets at the end of 2017 were approximately ¥3.01 billion, an increase of 2.29% from ¥2.94 billion at the end of 2016[15]. - The net assets attributable to shareholders decreased by 1.27% to approximately ¥1.78 billion from ¥1.80 billion in 2016[15]. - The company's total liabilities increased by 12.23% year-on-year, amounting to 1,011.40 million RMB[51]. - The company's long-term equity investments increased by 7.04% year-on-year, totaling 343.54 million RMB[51]. - The company reported a total asset value of 16,550 million RMB as of the reporting period[163]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of ¥0.47 per 10 shares, totaling approximately ¥19.65 million based on 419,230,828 shares[4]. - The company established a minimum cash dividend distribution policy of at least 10% of the distributable profit after statutory and discretionary reserves[121]. - The company implemented a cash dividend policy, distributing a cash dividend of 0.47 yuan per 10 shares, totaling 19,703,848.92 yuan for the year 2017[127]. - The total undistributed profits at the end of 2017 amounted to 905,766,192.88 yuan, which will be carried forward to future distributions[127]. - In 2017, the cash dividend represented 65.76% of the net profit attributable to the company's ordinary shareholders, which was 29,961,009.31 yuan[126]. Research and Development - The company has made significant investments in R&D, particularly in environmentally friendly water-based materials for synthetic leather production, positioning itself as a leader in this area[30]. - Research and development investment amounted to ¥74,087,325.53, which is 3.02% of operating revenue, showing a 2.50% increase from the previous year[76]. - The company launched over 70 new products and conducted more than 30 application research projects in 2017, enhancing product sales and company image[72]. - The company aims to enhance its R&D capabilities by increasing investment in both software and hardware, thereby improving innovation and maintaining competitive advantages[106]. Market and Business Strategy - The company continues to focus on its core business areas, including fine chemicals, petrochemicals, and agricultural products[14]. - The company aims to enhance its overall competitiveness by focusing on market expansion and product development as part of its annual strategic theme of "innovation and entrepreneurship"[50]. - The company is expanding its market presence in Southeast Asia, including Indonesia, Pakistan, India, Bangladesh, Thailand, and Vietnam, to adapt to the shifting production bases of domestic dyeing enterprises[43]. - The company is actively pursuing strategic investments in the chemical production sector to enhance its operational capabilities[94]. Subsidiaries and Investments - The company has divested from several subsidiaries, including a 74.8% stake in Guangdong Yingnong Agricultural Science Research Institute and a 93.5% stake in Shenzhen Yingnong Food Co., indicating a strategic shift in asset management[39]. - The company has established a wholly-owned subsidiary, Zhejiang Derong Chemical Co., Ltd., with a registered capital of 20 million RMB[188]. - The company transferred 100% equity of Zhejiang Derong Chemical Co., Ltd. to its affiliate for a consideration of 10 million RMB[188]. - The company reported a cash transaction of 860.29 million RMB for the transfer of 100% equity in a subsidiary, with a profit of 139.71 million RMB from the transaction[143]. Environmental and Social Responsibility - The company reported an annual environmental protection expenditure of 6.06 million yuan and achieved compliance in waste emissions[176]. - The company made social contributions amounting to 0.543 million yuan in cash, materials, and professional services[176]. - The company invested 2.28 million yuan in employee training to enhance their professional development capabilities[176]. Financial Management and Compliance - The company has maintained compliance with all relevant regulations regarding guarantees and financial management[157]. - The company is focused on maintaining transparency in its financial dealings, as evidenced by detailed disclosures in its reports[171]. - The audit firm engaged is Xinyong Zhonghe Accounting Firm, with an audit fee of 1.21 million RMB, and the continuous service period is 3 years[134]. - There were no significant accounting errors that required retrospective restatement during the reporting period[132].

Financial Performance - Operating revenue for the reporting period was ¥597,689,808.22, a decrease of 10.78% year-on-year, while year-to-date revenue increased by 15.20% to ¥1,956,422,226.69[7] - Net profit attributable to shareholders was ¥9,886,055.78, down 68.51% year-on-year, with year-to-date net profit decreasing by 72.99% to ¥35,356,490.32[7] - Basic earnings per share for the reporting period were ¥0.0236, a decline of 68.49% compared to the same period last year[7] - Total profit decreased by 66.1%, primarily due to a decrease in operating profit[44] - Net profit decreased by 71.9%, mainly due to a decrease in total profit[46] - Basic earnings per share decreased by 72.99%, primarily due to a decrease in net profit[49] Cash Flow - The net cash flow from operating activities was negative at -¥23,954,601.75, a decrease of 138.64% year-on-year[7] - Cash flow from operating activities decreased by 85.29%, mainly due to increased cash payments for goods and services[58] - Cash flow from investment activities decreased by 87.57%, primarily due to reduced cash received from investment recoveries[62] - Cash outflow related to investment activities increased by 100.00%, primarily due to expenses incurred from acquiring a 25% stake in Wuxi Huishan held by Hanco[70] - Net cash flow from investment activities decreased by 58.27%, mainly due to an increase in entrusted loans this year, leading to higher cash outflows for investments[70] - Cash paid for debt repayment increased by 151.42%, primarily due to a higher amount of loans repaid this period compared to the previous year[71] - Total cash outflow from financing activities increased by 99.60%, mainly due to increased loan repayment expenditures[72] - Net cash flow from financing activities decreased by 54.13%, primarily due to increased cash outflows for loan repayments[73] Assets and Investments - Total assets at the end of the reporting period reached ¥3,004,018,740.35, an increase of 2.06% compared to the end of the previous year[7] - Other receivables increased by 66.76%, primarily due to payments for equipment engineering related to the Shaoxing factory construction[15] - Held-to-maturity investments increased by 100%, primarily due to surplus funds used to purchase bank wealth management products[16] - Construction in progress increased by 60.8%, mainly due to investments in the Shaoxing factory[17] - Fixed asset disposal increased by 100%, primarily due to the clearance of untransferred fixed assets from the disposal of old vehicles[18] - Deferred income increased by 73.7%, mainly due to office renovation subsidies received[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,122[11] - The largest shareholder, Huang Guanyong, held 21.93% of the shares, totaling 91,941,844 shares[11] - Shareholder Ruichi Investment Co., Ltd. plans to reduce its holdings by up to 5 million shares, representing 1.19% of the total share capital, within six months starting from August 31[81] Corporate Actions - The company established a wholly-owned subsidiary, Zhejiang Derong Chemical Co., Ltd., with a registered capital of RMB 20 million[78] - The company’s wholly-owned subsidiary, Guangdong Deyun Venture Capital Co., Ltd., increased its registered capital from RMB 65 million to RMB 105 million[78] - The company agreed to a processing contract with Henan Zhongwei Tianxiang Chemical Co., Ltd., with a processing fee of RMB 3 million per month for a duration of one year[77] Profit Distribution and Commitments - The company has committed to distributing at least 10% of the distributable profits as cash dividends annually, with a cumulative distribution of at least 30% over the last three years[83] - The cash dividend distribution policy varies based on the company's development stage, with a minimum of 80% for mature stages without major capital expenditures[83] - The estimated net profit attributable to shareholders for 2017 is expected to decrease by 96.63% to 79.78%, ranging from 500,000 to 3,000,000 CNY[84] - The net profit for 2016 was reported at 14,832.93 CNY[84] - The decrease in profit is primarily due to lower gains from the reduction of Oak shares compared to the previous year and increased losses from Zhongwei Chemical[84] Compliance and Governance - There were no violations regarding external guarantees during the reporting period[86] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[87] - The company conducted an on-site investigation on September 18, 2017, focusing on its main business development and the operation of Yingnong Group[88] - The company has made commitments regarding tax obligations, ensuring that shareholders will bear the responsibility proportionally[82] - The company is in compliance with its commitments and has no overdue obligations[82] Other Income - Non-operating income included government subsidies amounting to ¥9,769,893.74 and gains from the disposal of non-current assets of ¥7,628,131.46[8] Return on Investment - The weighted average return on net assets was 0.55%, down 1.22% from the previous year[7] Exchange Rate Impact - The impact of exchange rate fluctuations on cash and cash equivalents increased by 88.94%, mainly due to changes in foreign currency exchange rates[74]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 1,358,732,418.47, representing a 32.13% increase compared to CNY 1,028,291,085.18 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 74.41% to CNY 25,470,434.54 from CNY 99,531,056.36 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 15,514,019.23, down 49.21% from CNY 30,545,464.01 in the previous year[18]. - The net cash flow from operating activities was CNY 44,079,139.45, a decline of 41.09% compared to CNY 74,826,520.87 in the same period last year[18]. - Basic earnings per share fell by 74.37% to CNY 0.0608 from CNY 0.2372 year-on-year[18]. - Total profit fell by 70.42% to CNY 44,079,139.45, largely due to the decline in operating profit[50]. - The company reported earnings per share of CNY 0.0608, down 74.37% from the previous year[50]. - The company expects a net profit for the first three quarters of 2017 to range between CNY 2,000,000 and CNY 5,000,000, a decrease of 84.72% to 61.81% compared to the previous year[80]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,878,321,733.51, a decrease of 2.21% from CNY 2,943,361,908.83 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 1.49% to CNY 1,777,321,285.34 from CNY 1,804,159,133.69 at the end of the previous year[18]. - The company's total liabilities were 885.23 million CNY, a decrease of 1.77% from the beginning of the year, with current liabilities making up 68.42% of total liabilities[48]. - The company's equity attributable to shareholders was 1,993.09 million CNY, down 2.40% from the beginning of the year, primarily due to dividends paid to shareholders[48]. - As of June 30, 2017, the company's total assets amounted to 2,878.32 million CNY, with current assets at 1,292.75 million CNY, accounting for 44.91% of total assets, a decrease of 2.86% from the beginning of the year[47]. Investment and Projects - The company is investing in a 60Kt/a environmentally friendly high-end textile chemical project in Shaoxing, Zhejiang, expected to be operational in 2017[31]. - The isooctane project has been officially launched, with stable production, benefiting from government efforts to improve air quality and the implementation of National Standard V, indicating a promising market outlook[29]. - The company has established overseas operations, including a joint venture in Indonesia and a merger with a company in Peru, with total foreign assets amounting to approximately 165.88 million yuan[33]. - The company has initiated a project for harmless treatment approved by the World Bank, which has entered the construction phase[46]. - The company has made significant equity investments during the reporting period, with a total investment amount of ¥75 million[66]. Market and Business 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[35]. - The company is focusing on expanding its fresh food community chain brand "Yingnong Shengji Zhuangyuan" and enhancing its supply chain in the agricultural sector[46]. - The company has established a competitive direct sales network for fine chemicals, expanding product variety and market reach, including textile chemicals, leather chemicals, and silicone coatings[26]. - The company is focusing on expanding its market presence and enhancing product development in the chemical sector[129]. - The company aims to achieve a revenue growth target of 10% for the upcoming fiscal year[132]. Risks and Challenges - The company faces risks including changes in the operating environment, swine fever, food safety, production safety, and fluctuations in raw material prices[4]. - The company emphasizes that future operational plans and targets are subject to market conditions and uncertainties[4]. - The company plans to strengthen credit management to mitigate risks associated with customer defaults due to rising operational costs[82]. - The company will enhance safety production management to address risks inherent in the chemical industry[82]. Research and Development - Research and development expenses increased by 5.80% to CNY 33,823,130.28, indicating continued investment in innovation[50]. - The company achieved a significant increase in new product trials, with the number of projects doubling year-on-year in the fine chemical segment[42]. - The company improved the purity of high-purity isooctane to over 99.9% and increased yield by 4% through process optimization[44]. - The company is investing 50 million CNY in research and development for advanced manufacturing technologies[115]. Shareholder and Governance - The company has committed to distributing at least 10% of the annual distributable profit in cash dividends, provided it is profitable and has positive retained earnings[88]. - The cash dividend distribution ratio is set to be at least 80% if the company is in a mature stage without significant capital expenditure arrangements[90]. - The company has fulfilled its commitment to distribute dividends as per the regulations and its articles of association[89]. - The total number of ordinary shareholders at the end of the reporting period was 15,833[152]. - The largest shareholder, Huang Guanhong, holds 21.93% of the shares, totaling 91,941,844 shares[152]. Compliance and Transparency - The company is committed to transparency and has disclosed all relevant financial information in accordance with regulatory requirements[75]. - The semi-annual financial report has not been audited[92]. - The company has not faced any penalties or rectification issues during the reporting period[96]. - The company has not undergone any bankruptcy reorganization during the reporting period[93].

Financial Performance - The company's operating revenue for 2016 was CNY 2,411,904,629, representing a 1.90% increase compared to CNY 2,366,876,006 in 2015[16]. - The net profit attributable to shareholders decreased by 50.27% to CNY 148,329,284.13 from CNY 298,244,648.00 in the previous year[16]. - The basic earnings per share dropped by 50.70% to CNY 0.35 from CNY 0.71 in 2015[16]. - The total assets at the end of 2016 were CNY 2,943,361,908, a decrease of 1.21% from CNY 2,979,459,179 in 2015[16]. - The net assets attributable to shareholders decreased by 4.32% to CNY 1,804,159,133 from CNY 1,885,589,720 in 2015[16]. - The net cash flow from operating activities increased by 38.58% to CNY 177,188,938.84 from CNY 127,859,875.78 in 2015[16]. - The weighted average return on net assets decreased to 7.67% from 16.67% in the previous year[16]. - Non-recurring gains and losses for 2016 totaled 102,006,287.14 yuan, a decrease from 250,612,666.21 yuan in 2015[23]. - The company achieved earnings per share of CNY 0.35, a decrease of 50.7% compared to the previous year[54]. - The company's total liabilities increased by 4.33% year-on-year, reaching CNY 901.18 million, with long-term liabilities rising by 51.79% due to increased bank loans[52]. - Investment income fell by 56.29% year-on-year, mainly due to lower gains from stock sales compared to 2015[53]. Business Expansion and Acquisitions - The company expanded its business scope by merging with Sichuan Tingjiang New Materials Co., Ltd., adding leather chemicals to its fine chemical segment[14]. - The company acquired 83.78% of Sichuan Tingjiang New Materials Co., Ltd., holding 50,266,950 shares after the completion of the acquisition[17]. - The company has established a new subsidiary, Sichuan Tingjiang New Materials Co., Ltd., which is expected to contribute positively to overall performance with a profit of 27,250,174.67 CNY[114]. - The company is focusing on expanding its market presence through strategic investments in new production facilities and technology upgrades[100]. - The company plans to expand its market presence through strategic acquisitions and partnerships, focusing on enhancing its product offerings[167]. Research and Development - The company established a national-level enterprise technology center and provincial engineering research center, enhancing its R&D capabilities[43]. - Research and development (R&D) investment reached 72,277,877.45 CNY, accounting for 3.00% of total revenue, which is an increase of 27.81% compared to the previous year[81]. - The company launched over 70 new products and conducted more than 30 application research projects in 2016, significantly enhancing product sales and company image[76]. - The number of R&D personnel increased by 23.01% to 278, representing 15.00% of the total workforce[81]. - The company is committed to sustainability and is implementing eco-friendly practices in its production processes[167]. Market Performance - The company’s main business segments include fine chemicals, petrochemicals, and agricultural and animal husbandry food, with fine chemicals being the primary focus[28]. - The agricultural and animal husbandry food segment saw a significant growth of 25.01%, with revenue of ¥94,675,168.24, up from ¥75,734,602.61 in 2015[57]. - The textile chemicals product line contributed ¥926,635,521.67, a 3.61% increase from the previous year, while the sales volume increased by 2.37%[62]. - The revenue from isooctane and polyurethane products increased by 5.55%, totaling ¥1,064,626,067.54, with a sales volume growth of 24.51%[63]. - The company is exploring new market segments to diversify its revenue streams and reduce dependency on existing markets[167]. Risk Management - The company has identified risks including changes in the operating environment, new business risks, and fluctuations in raw material prices[4]. - The company plans to implement a risk-oriented internal control system to optimize management and prevent risks[117]. - The company is focusing on risk management strategies to mitigate operational risks due to rising labor, environmental, and capital costs, as well as potential impacts from new business ventures and market fluctuations[122]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, based on a total of 419,230,828 shares[4]. - In 2016, the company distributed cash dividends of 50,307,699.36 CNY, which accounted for 33.92% of the net profit attributable to shareholders[136]. - The cash dividend accounted for 100% of the profit distribution in 2016, reflecting the company's commitment to returning value to shareholders[136]. - The company has committed to distributing at least 10% of the distributable profits to shareholders in the year when profits are realized[142]. - The company has a cash dividend policy where, in the absence of significant capital expenditures, at least 80% of profits should be distributed as cash dividends during the mature development stage[143]. Operational Efficiency - The company has initiated cost-cutting measures aimed at improving operational efficiency by 15%[166]. - The company is focusing on talent development and leadership training to enhance employee capabilities and support sustainable growth[118]. - The company aims to establish a platform for collaboration across various departments to foster a win-win ecosystem[116]. - The company is advancing internal platform construction to establish research, information, financial, investment, and supply chain platforms, aiming to create a collaborative ecosystem for all departments and employees[119]. Financial Management - The company reported a total of 6,000 million CNY in entrusted financial management, with an actual return of 63.37 million CNY during the reporting period[188]. - The total amount of guarantees provided by the company and its subsidiaries reached 3,191.02 million CNY, with an actual guarantee amount of 3,081.31 million CNY[185]. - The company has no violations regarding external guarantees during the reporting period[186]. - The company has plans for future entrusted financial management activities[189]. Corporate Governance - The company has no significant litigation or arbitration matters during the reporting period[152]. - The company has maintained a clean integrity status with no significant debts or court judgments unmet by the controlling shareholder[155]. - The company has not experienced any major accounting errors requiring restatement during the reporting period[148]. - The company has not disclosed any major related party transactions during the reporting period[172].

Financial Performance - The company's revenue for Q1 2017 was ¥634,714,634.07, representing a 49.90% increase compared to ¥423,422,421.32 in the same period last year[7] - Net profit attributable to shareholders was ¥4,326,985.89, a significant turnaround from a loss of ¥5,912,902.33, marking a 173.18% improvement[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥5,150,880.96, which is a 22.62% improvement from the previous loss of ¥6,656,509.36[7] - The company's basic earnings per share increased to ¥0.0103 from a loss of ¥0.0140, reflecting a 173.57% improvement[7] - The company's operating revenue for the current period reached ¥634,714,634.07, a 49.90% increase compared to ¥423,422,421.32 in the previous period, primarily driven by increased sales from its subsidiary Zhongwei Chemical[17] - The net profit for the current period was ¥5,829,703.84, a significant turnaround from a net loss of ¥7,318,843.98 in the previous period, marking a 179.65% improvement[17] - The company reported a 322.66% increase in operating profit, amounting to ¥8,533,942.69, compared to a loss of ¥3,832,682.99 in the previous period[17] - The company's total comprehensive income rose by 206.30% to ¥7,869,851.81, driven by the increase in net profit[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,003,179,042.39, a 2.03% increase from ¥2,943,361,908.83 at the end of the previous year[7] - The net assets attributable to shareholders were ¥1,806,887,738.09, showing a slight increase of 0.15% from ¥1,804,159,133.69[7] - The total assets increased by 37.81% in other receivables, reaching ¥39,873,518.60, primarily due to equipment procurement payments made by subsidiaries[14] - The company’s cash and cash equivalents rose by 31.87% to ¥121,437,574.21, mainly from received dividends and sales revenue[15] Cash Flow - The net cash flow from operating activities was negative at -¥35,959,939.65, a decline of 178.97% compared to -¥12,890,422.45 in the previous year[7] - The cash received from tax refunds was ¥3,383,831.27, reflecting a significant increase of 168.12% due to higher tax subsidies received[20] - The cash paid for purchasing goods and services amounted to ¥538,149,245.68, which is a 99.50% increase, mainly due to increased procurement driven by higher sales[20] - The cash flow from investment income received was ¥12,351,801.70, a substantial increase of 565.02% compared to the previous period, primarily from dividend payments received[21] - The company reported a net increase in cash and cash equivalents of ¥9,296,275.45, a 126.24% improvement compared to the previous period[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,427[10] - The largest shareholder, Huang Guanyong, holds 21.93% of the shares, amounting to 91,941,844 shares[10] Investments and Financial Management - The company reported non-recurring gains of ¥9,477,866.85, which included ¥7,627,432.88 from the disposal of non-current assets and ¥4,390,430.68 from government subsidies[8] - The investment income increased by 73.86% to ¥17,252,957.16, attributed to the sale of shares in Aoke[17] - The company’s financial expenses decreased by 33.03% to ¥6,474,406.98, due to lower loan interest rates and increased foreign exchange gains[17] - The company approved the establishment of an investment fund with a total scale of ¥200 million, focusing on new materials, environmental protection, and biotechnology sectors[27] - The company established a targeted asset management plan with a maximum investment of ¥8 million to manage its financial assets effectively[24] - The company sold 1 million shares of Liaoning Aoke Chemical Co., Ltd. at a price of ¥8.50 per share, generating an investment income of ¥7,627,432.88[26] Future Outlook and Policies - The net profit attributable to shareholders for the first half of 2017 is expected to range from 2,000 to 4,500 million CNY, representing a decrease of 54.79% to 79.91% compared to 9,953.11 million CNY in the same period of 2016[34] - The significant decline in net profit is attributed to the large investment gains from the sale of Oak shares in the first half of 2016, which will not recur in 2017[34] - The company has committed to distributing at least 10% of its distributable profits in cash dividends when it is profitable and has positive retained earnings[32] - The cash dividend distribution policy stipulates that if the company is in a mature development stage without major capital expenditures, the cash dividend ratio should be at least 80%[33] Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[36] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[37] - The company has not engaged in any research, communication, or interview activities during the reporting period[38] - The company signed an asset management contract and established a targeted asset management plan on March 24, 2017[29] - The company participated in establishing an investment fund with related transactions on March 22, 2017[29] - The company changed its name on April 6, 2017, as disclosed in the relevant announcements[29]

所有董事均已以书面和通讯相结合的方式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)周红艳声明：保证季度报告中财务报表的真实、准确、完整。 1 广东德美精细化工股份有限公司 2016 年第三季度报告正文 证券代码：002054 证券简称：德美化工 公告编号：2016-058 广东德美精细化工股份有限公司 2016 年第三季度报告正文 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。 广东德美精细化工股份有限公司 2016 年第三季度报告正文 第二节 主要财务数据及股东变化 | | 本报告期末 | 上年度末 | | 本报告期末比上年度 | | --- | --- | --- | --- | --- | | | | | | 末增减 | | | | 调整前 | 调整后 | 调整后 | | 总资产（元） | 2,974,747,150.40 | 2,489,064,366.89 | 2,979,459,179.79 | -0.16% ...

广东德美精细化工股份有限公司 2016 年第一季度报告正文 证券代码：002054 证券简称：德美化工 公告编号：2016-020 广东德美精细化工股份有限公司 2016 年第一季度报告正文 1 广东德美精细化工股份有限公司 2016 年第一季度报告正文 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。 独立董事石碧先生、张宏斌先生以通讯方式出席本次董事会，其余董事均 现场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)周红艳声明：保证季度报告中财务报表的真实、准确、完整。 2 广东德美精细化工股份有限公司 2016 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 √ 是 □ 否 | | 本报告期 | 上年同期 | | 本报告期比上年同 期增减 | | --- | --- | --- | --- | --- | | | | 调整 ...

Financial Performance - The company's operating revenue for 2015 was ¥2,092,109,315.52, representing a 70.30% increase compared to ¥1,228,504,465.87 in 2014[16] - The net profit attributable to shareholders for 2015 was ¥285,068,506.32, a significant increase of 197.67% from ¥95,767,549.28 in 2014[16] - The basic earnings per share for 2015 was ¥0.68, up 195.65% from ¥0.23 in 2014[16] - The weighted average return on equity for 2015 was 16.67%, an increase of 10.55 percentage points from 6.12% in 2014[16] - The total assets at the end of 2015 were ¥2,489,064,366.89, a decrease of 4.13% from ¥2,596,185,802.80 at the end of 2014[16] - The net profit attributable to ordinary shareholders increased by 197.67% year-on-year, driven by investment income from the sale of Tianyuan stock and land demolition income in Wuxi[48] - The company reported a net profit of 4,732.1 million yuan for the period, representing a 5.81% increase compared to the previous period[96] - The company reported a net profit of 3,264.33 million yuan for the year 2015, representing a 10.63% increase compared to the previous year[98] - The company achieved a net profit margin of 20% in 2015, reflecting effective cost management strategies[196] Cash Flow and Dividends - The net cash flow from operating activities for 2015 was ¥131,459,269.99, a decrease of 27.76% from ¥181,965,782.50 in 2014[16] - The company plans to distribute a cash dividend of ¥1.2 per 10 shares to all shareholders, totaling approximately ¥50 million[5] - The company distributed cash dividends of 50,307,699.36 CNY, representing 17.65% of the net profit attributable to ordinary shareholders, which was 285,068,506.32 CNY[125] - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends of 38,751,643.56 CNY in 2014 and 38,751,634.46 CNY in 2013[125] - The company plans to continue distributing dividends in cash, ensuring at least 10% of the distributable profits are allocated annually[132] Investments and Acquisitions - The company invested RMB 100 million to increase its stake in Guangdong Yingnong Group from 87% to 93.5%[37] - The company converted a loan of RMB 91.28 million to equity in Zhongwei Chemical and acquired 18.85% of its shares for RMB 42 million, holding a total of 72.77%[37] - The company acquired 20% of Guangdong Xiaobinghuoren Network Technology Co., Ltd. for RMB 46.15 million and subsequently increased its investment by RMB 8 million[36] - The acquisition of 83.78% equity in Sichuan Tingjiang New Materials Co., Ltd. was completed, with a transfer price of 15,080 million, based on an assessed value of 18,530.75 million[158] Market Expansion and Product Development - The company plans to expand its agricultural business through the promotion of its "Yingnong" brand and related platforms[30] - The company is focusing on expanding its market presence through new product development and strategic acquisitions[104] - The company plans to enhance its market presence through strategic investments and partnerships in the agricultural sector[86] - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2017[186] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[154] Research and Development - The company has established a strong R&D partnership with Wacker Chemie AG to enhance its silicone functional finishing agents[27] - Research and development investment increased by 7.07% to CNY 49,641,036.55, representing 2.37% of total revenue, down from 3.77% the previous year[66] - The company is actively involved in agricultural research and development, focusing on modern farming techniques and technology promotion[85] - The company plans to enhance its research and development capabilities by integrating resources and improving both hardware and software levels, with a focus on key projects that significantly boost performance[109] Risk Management - The company faced risks including changes in the operating environment, new business risks, and fluctuations in raw material prices[4] - The company has identified risks related to changes in the operating environment, new business ventures, and safety production, and will strengthen credit management and safety measures to mitigate these risks[111] Corporate Governance and Compliance - The company has established a clear and transparent decision-making process for its profit distribution, involving independent directors to ensure compliance and fairness[123] - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[133] - The company has fulfilled all commitments made by shareholders and management during the reporting period[128] Sustainability and Corporate Culture - The company emphasizes a corporate culture that fosters employee engagement and loyalty, supporting long-term development[43] - The management highlighted the importance of sustainability in operations, aiming to reduce carbon emissions by 10% over the next three years[200] - The company aims to maintain a strong focus on sustainability and environmentally friendly practices in its operations[154]