Financial Performance - The company's operating revenue for 2022 was ¥3,257,682,164.87, representing a 14.82% increase compared to ¥2,837,245,532.12 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥393,832,960.53, a decrease of 26.88% from ¥538,634,842.24 in 2021[22]. - The net cash flow from operating activities in 2022 was ¥290,082,987.15, down 57.32% from ¥679,614,414.88 in 2021[22]. - The basic earnings per share for 2022 was ¥0.3740, a decline of 26.90% compared to ¥0.5116 in 2021[22]. - The total assets at the end of 2022 were ¥5,018,850,597.63, an increase of 3.92% from ¥4,829,564,528.25 at the end of 2021[22]. - The net assets attributable to shareholders at the end of 2022 were ¥4,693,345,575.80, up 5.12% from ¥4,464,608,376.63 at the end of 2021[22]. - The total operating revenue for 2022 was approximately CNY 3.26 billion, representing a year-on-year increase of 14.82% compared to CNY 2.84 billion in 2021[64]. - Chemical products accounted for 97.28% of total revenue, with a significant increase of 16.45% from the previous year[64]. - The company reported a total revenue of 1.2 billion RMB for the year 2022, representing a year-on-year increase of 15%[121]. - The net profit attributable to shareholders was 150 million RMB, an increase of 10% compared to the previous year[121]. Dividend and Profit Distribution - The company reported a profit distribution plan to distribute a cash dividend of 1.50 RMB per 10 shares (including tax) based on 1,052,944,789 shares[5]. - The company plans to distribute a cash dividend of 1.50 yuan per 10 shares, totaling 157,941,718.35 yuan, which accounts for 40.10% of the net profit[139]. - The company maintained a stable cash dividend policy, ensuring compliance with relevant regulations and protecting minority shareholders' rights[136]. Business Operations and Strategy - The main business of the company includes the production of synthetic ammonia, methanol, and DMF, which are key products in the coal chemical industry[5]. - The company has undergone significant asset restructuring since 2016, changing its main business focus to chemical products including synthetic ammonia and methanol[21]. - The company is expected to undergo a transformation towards low-carbon operations in response to national carbon reduction goals[33]. - The company has ongoing projects for the construction of 100,000 tons/year of ethanol and 160,000 tons/year of methyl acetate, which are currently in the planning stage[37]. - The company aims to leverage its listing status for financing opportunities to acquire high-quality assets related to its main business[91]. - The company plans to focus on the chemical industry, enhancing existing production capacity and talent reserves while developing new technologies[89]. Market and Industry Risks - The company faces risks including macroeconomic risks, safety production risks, environmental risks, raw material price fluctuations, and market demand and competition risks[5]. - The company faced uncertainty regarding its ability to continue as a going concern, as indicated by the audit report[22]. - The company operates in the coal chemical industry, which is influenced by fluctuations in coal prices and downstream demand for petrochemical products, leading to potential volatility in operational performance[49]. - Fluctuations in raw material prices, particularly coal, pose a risk to operational performance, with measures in place to monitor and manage costs[97]. - Market demand and competition risks are highlighted, as prices for key products like synthetic ammonia and methanol are subject to market supply and demand dynamics[98]. Environmental and Safety Compliance - The company has been impacted by environmental regulations and market conditions, leading to challenges in the coal chemical industry[31]. - The company has achieved compliance in gas, liquid, and solid waste disposal, allowing for high-load production amidst strict environmental regulations[41]. - The company emphasizes the importance of safety production and has implemented comprehensive safety management systems to mitigate risks[95]. - Environmental protection measures are being enhanced, including investments in pollution control and compliance with regulatory standards[96]. - The company has established an emergency response plan for environmental incidents, which was revised and approved in August 2021[155]. Governance and Management - The governance structure is designed to ensure independence and accountability among the board, management, and supervisory bodies, enhancing operational integrity[103]. - The company ensures compliance with the governance requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange, with no significant discrepancies reported[107]. - The company maintains independence from its controlling shareholder, with a complete separation in business, personnel, assets, and financial systems[108]. - The company has established a governance structure including a shareholders' meeting, board of directors, supervisory board, and management team to ensure effective decision-making and oversight[141]. - The company has committed to avoiding competition with its controlling shareholder's subsidiaries through internal pricing agreements[111]. Research and Development - The company invested in various R&D projects aimed at reducing VOCs emissions and enhancing environmental sustainability, with completed projects focusing on wastewater treatment and real-time monitoring systems[76]. - The number of R&D personnel increased by 4.02% from 249 in 2021 to 259 in 2022, with R&D personnel now accounting for 21.33% of the total workforce[77]. - R&D investment amounted to ¥100,837,535.11 in 2022, an increase of 6.85% from ¥94,372,545.31 in 2021[78]. - The company aims to improve boiler thermal efficiency and reduce production costs through advanced technologies, including automatic ash cleaning systems and intelligent optimization[76]. Employee and Community Engagement - The company focuses on enhancing employee welfare, implementing health check-ups and paid annual leave, and organizing various cultural activities[159]. - The company has implemented a training program to enhance employee skills and management capabilities[134]. - The company continues to support social welfare initiatives, aligning its economic success with community contributions[164]. Related Party Transactions - The company committed to minimizing and standardizing related party transactions, ensuring compliance with market pricing principles and legal procedures[171]. - The company guarantees the independence of its financial department and accounting system, ensuring independent tax compliance and financial decision-making[171]. - The company reported a total of 79.92 million yuan in related transactions for the year 2022, with a significant portion being 36.81 million yuan from sales[197].

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。 重要内容提示： 陕西兴化化学股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日在 巨潮资讯网上披露了《2022 年年度报告全文》及《2022 年年度报告摘要》。为 便于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2023 年 05 月 17 日（星期三）15:00-16:00 在"价值在线"（www.ir-online.cn） 举办陕西兴化化学股份有限公司 2022 年年度业绩说明会，与投资者进行沟通和 交流，广泛听取投资者的意见和建议。 会议召开时间：2023 年 05 月 17 日（星期三）15:00-16:00 会议召开方式：网络互动方式 会议召开地点：价值在线（www.ir-online.cn） 会 议 问 题 征 集 ： 投 资 者 可 于 2023 年 05 月 17 日 前 访 问 网 址 https://eseb.cn/14agk0rjXkA 或使用微信扫描下方小程序码进行会前提 问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普遍 关注的问题进 ...

1 证券代码：002109 证券简称：兴化股份 陕西兴化化学股份有限公司投资者关系活动记录表 编号：2017003 | --- | --- | --- | --- | --- | --- | |----------------|------------------------------|--------------------------------------------|-------|-------|-------| | | | | | | | | | √ □ 媒体采访 □业绩说明会 | 特定对象调研 □分析师会议 | | | | | 投资者关系活动 | □ 新闻发布会 □路演活动 | | | | | | 类别 | √ 现场参观 | | | | | | | □其他（ ） | | | | | | 参与单位名称及 | 海通证券：朱军军 | | | | | | 人员姓名 | | | | | | | 时间 | 2017 年 5 月 11 日 | | | | | | 地点 | 董秘办公室 | | | | | | 上市公司接待人 | | 公司副总经理、董事会秘书席永生，证券事务代 | | | | | 员姓名 | ...

证券代码：002109 证券简称：兴化股份 编号：2017002 陕西兴化化学股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|-------------------------|--------------------------------------------| | | | | | | √ | 特定对象调研 □分析师会议 | | | □ | 媒体采访 □业绩说明会 | | 投资者关系活动 | □ 新闻发布会 □路演活动 | | | 类别 | √ 现场参观 | | | | □其他（ ） | | | 参与单位名称及 | 国金证券：郭一凡 | | | 人员姓名 | 民生证券：李晓辉 | | | | 东兴证券：廖鹏飞 | | | 时间 | 2017 年 4 月 28 | 日、 5 月 2 日 | | 地点 | 公司会议室 | | | 上市公司接待人 | | 公司副总经理、董事会秘书席永生，证券事务代 | | 员姓名 | 表王彦 | | | 投资者关系活动 | | 本次调研活动的主要内容包括：目前公司主 | | 主要内容介绍 | | 营产品生产经营情况 ...

证券代码：002109 证券简称：兴化股份 编号：2017001 陕西兴化化学股份有限公司投资者关系活动记录表 | --- | --- | --- | |---------------------|-------------------------------------|--------------------------------------------| | | √ | 特定对象调研 □分析师会议 | | | □ | 媒体采访 □业绩说明会 | | 投资者关系活动 类别 | □ 新闻发布会 □路演活动 | | | | √ 现场参观 | | | | □其他（ ） | | | 参与单位名称及 | 招商证券：孙维容、刘晓飞 | | | 人员姓名 | 东方证券：倪吉 华泰柏瑞基金：姚晨飞 | | | 时间 | 2017 年 4 月 26 日 | | | 地点 | 公司第四会议室 | | | 上市公司接待人 | | 公司副总经理、董事会秘书席永生，总会计师胡 | | 员姓名 | 明松，证券事务代表王彦 | | | 投资者关系活动 | | 本次投资者关系活动的主要内容包括：目前 | | 主要内容介绍 | | 公司 ...

1 证券代码：002109 证券简称：兴化股份 陕西兴化化学股份有限公司投资者关系活动记录表 编号：2017006 | --- | --- | --- | --- | --- | --- | --- | |-------------------------|------------------------------|--------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | √ | 特定对象调研 □分析师会议 | | | | | | 投资者关系活动 | □ 媒体采访 □业绩说明会 | | | | | | | 类别 | □ 新闻发布会 □路演活动 | | | | | | | | √ 现场参观 | | | | | | | | □其他（ ） | | | | | | | 参与单位名称及 人员姓名 | 东吴证券：沈晓源 | | | | | | | 时间 | 2017 年 8 月 24 日 | | | | | | | 地点 | 董秘办公室 | | | | | | | 上市公司接待人 | ...

1 证券代码：002109 证券简称：兴化股份 陕西兴化化学股份有限公司投资者关系活动记录表 编号：2017005 | --- | --- | --- | --- | --- | --- | --- | |----------------|------------------------------|--------------------------|--------------------------------------------|-------|-------|-------| | | | | | | | | | | √ | 特定对象调研 □分析师会议 | | | | | | 投资者关系活动 | □ 媒体采访 □业绩说明会 | | | | | | | 类别 | □ 新闻发布会 □路演活动 | | | | | | | | √ 现场参观 | | | | | | | | □其他（ ） | | | | | | | 参与单位名称及 | 中金公司：李璇 | | | | | | | 人员姓名 | 诺安基金：赵森 | | | | | | | 时间 | 2017 年 8 月 18 日 | | | | | | | 地 ...

1 证券代码：002109 证券简称：兴化股份 陕西兴化化学股份有限公司投资者关系活动记录表 编号：2018001 | --- | --- | --- | --- | --- | --- | --- | |-------------------------|------------------------------|--------------------------|-------|-------|--------------------------------------------|-------| | | | | | | | | | | √ | 特定对象调研 □分析师会议 | | | | | | 投资者关系活动 | □ 媒体采访 □业绩说明会 | | | | | | | 类别 | □ 新闻发布会 □路演活动 | | | | | | | | □ 现场参观 | | | | | | | | □其他（ ） | | | | | | | 参与单位名称及 人员姓名 | 东北证券：王栋 | | | | | | | 时间 | 2018 年 2 月 12 日 | | | | | | | 地点 | 董秘办公室 | | | ...

1 证券代码：002109 证券简称：兴化股份 陕西兴化化学股份有限公司投资者关系活动记录表 编号：2018002 | --- | --- | --- | --- | --- | --- | |-------------------------|------------------------------|--------------------------------------------|-------|-------|-------| | | | | | | | | | √ 特定对象调研 □分析师会议 | | | | | | 投资者关系活动 | □ 媒体采访 □业绩说明会 | | | | | | 类别 | □ 新闻发布会 □路演活动 | | | | | | | □ 现场参观 | | | | | | | □其他（ ） | | | | | | 参与单位名称及 人员姓名 | 中信建投证券：黄帅 | | | | | | 时间 | 2018 年 5 月 30 日 | | | | | | | | | | | | | 地点 | 董秘办公室 | | | | | | 上市公司接待人 员姓名 | 副总经理、董事会秘书席永 ...

[Major Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Major Accounting Data and Financial Indicators](index=1&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In Q3 2022, the company saw significant declines in operating revenue and net profit attributable to parent company shareholders, though year-to-date cumulative revenue grew and net profit remained stable, with total assets and shareholder equity showing steady growth from the year's start Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3) (CNY) | YoY Change in Current Period (%) | Year-to-Date (YTD) (CNY) | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 673,169,833.77 | -18.92% | 2,554,718,470.21 | 15.26% | | Net Profit Attributable to Shareholders of the Listed Company | 42,075,621.77 | -78.27% | 477,566,517.77 | -1.47% | | Net Cash Flow from Operating Activities | — | — | 304,651,496.13 | -49.91% | | Basic Earnings Per Share (EPS) (CNY/share) | 0.04 | -78.25% | 0.4536 | -1.46% | | Weighted Average Return on Net Assets (ROE) | 0.88% | -3.61% | 10.14% | -1.50% | Key Balance Sheet Indicators at Period End | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change from End of Prior Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 5,095,424,794.00 | 4,829,564,528.25 | 5.50% | | Total Equity Attributable to Shareholders of the Listed Company | 4,788,825,927.99 | 4,464,608,376.63 | 7.26% | [Non-recurring Gains and Losses and Amounts](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Non-recurring gains and losses primarily from government grants totaled **CNY 0.40 million** year-to-date after tax, having a negligible impact on the company's overall net profit Year-to-Date Non-recurring Gains and Losses Items | Item | Year-to-Date Amount (CNY) | | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 1,110,016.80 | | Other Non-operating Income and Expenses Excluding the Above | -535,840.87 | | Less: Income Tax Impact | 171,482.80 | | **Total** | **402,693.13** | [Analysis of Major Financial Indicator Changes](index=2&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Several financial indicators fluctuated significantly, with prepayments surging **907.93%**, administrative expenses rising **39.11%**, and operating cash flow decreasing **49.91%** year-on-year, reflecting changes in procurement and cost management - Prepayments surged by **907.93%** from the beginning of the period, primarily due to unsettled advances for materials at period-end[8](index=8&type=chunk) - Administrative expenses increased by **39.11%** compared to the prior year, mainly due to increased employee compensation during the reporting period[11](index=11&type=chunk) - Net cash flow from operating activities decreased by **49.91%** year-on-year, primarily due to increased cash purchases of raw materials influenced by market supply and demand during the reporting period[13](index=13&type=chunk) - Taxes payable decreased by **51.49%** from the beginning of the period, mainly because reduced revenue in September due to equipment maintenance and overhaul led to a corresponding decrease in accrued taxes[9](index=9&type=chunk) [Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Shareholding Status of Shareholders](index=3&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of period-end, the company had **33,797** common shareholders, with a highly concentrated equity structure where the top two shareholders, acting in concert, held a combined **69.37%** stake - As of the end of the reporting period, the company had a total of **33,797** common shareholders[15](index=15&type=chunk) Shareholding Status of Top Two Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Related Party Relationship | | :--- | :--- | :--- | :--- | | Shaanxi Yanchang Petroleum (Group) Co., Ltd. | State-owned Legal Entity | 48.24% | Controlling Shareholder | | Shaanxi Xinghua Group Co., Ltd. | State-owned Legal Entity | 21.13% | Wholly-owned subsidiary of the controlling shareholder, forming a concerted party | [Other Significant Matters](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Progress of Non-public Issuance of Shares](index=4&type=section&id=%E9%9D%9E%E5%85%AC%E5%BC%80%E5%8F%91%E8%A1%8C%E8%82%A1%E7%A5%A8%E8%BF%9B%E5%B1%95) The company's 2020 non-public A-share issuance (refinancing) is ongoing, with a second plan revision and CSRC feedback received in Q3 2022, indicating continued approval processes - The company conducted a second revision of its 2020 non-public issuance of A-shares plan in July 2022[17](index=17&type=chunk) - On September 19, 2022, the company disclosed receiving the 'Second Feedback Notice on Administrative Licensing Project Review' from the China Securities Regulatory Commission (CSRC), indicating that the refinancing matter is still under review[18](index=18&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Balance Sheet](index=5&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, total assets increased **5.50%** to **CNY 5.10 billion**, total liabilities decreased **16.00%** to **CNY 306.60 million**, and total equity attributable to parent company shareholders grew **7.26%** to **CNY 4.79 billion**, indicating a robust financial structure Key Balance Sheet Item Changes | Item | September 30, 2022 (CNY) | January 1, 2022 (CNY) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,682,585,948.94 | 1,546,762,767.71 | +8.78% | | Fixed Assets | 2,433,950,249.47 | 2,567,872,005.41 | -5.21% | | Total Assets | 5,095,424,794.00 | 4,829,564,528.25 | +5.50% | | Total Liabilities | 306,598,866.01 | 364,956,151.62 | -16.00% | | Total Equity Attributable to Parent Company Shareholders | 4,788,825,927.99 | 4,464,608,376.63 | +7.26% | [Consolidated Income Statement](index=7&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2022, operating revenue grew **15.26%** to **CNY 2.55 billion**, but operating costs and administrative expenses increased faster, leading to a slight **1.47%** year-on-year decrease in net profit attributable to parent company shareholders to **CNY 477.57 million**, reflecting cost pressures Key Income Statement Items Year-to-Date | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,554,718,470.21 | 2,216,415,351.78 | +15.26% | | Operating Costs | 1,871,087,763.16 | 1,544,523,003.65 | +21.14% | | Administrative Expenses | 86,525,317.61 | 62,198,615.28 | +39.11% | | Net Profit Attributable to Parent Company Shareholders | 477,566,517.77 | 484,692,253.19 | -1.47% | [Consolidated Cash Flow Statement](index=9&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, net cash flow from operating activities significantly decreased by **49.91%** to **CNY 304.65 million** due to increased cash payments for goods and services, while net cash outflow from financing activities was **CNY 157.94 million**, primarily for dividends, with cash and cash equivalents at **CNY 1.68 billion** Key Cash Flow Statement Items Year-to-Date | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 304,651,496.13 | 608,182,806.85 | -49.91% | | Net Cash Flow from Investing Activities | -10,886,596.55 | -9,134,832.05 | -19.18% | | Net Cash Flow from Financing Activities | -157,941,718.35 | -201,282,916.67 | +21.53% | | Net Increase in Cash and Cash Equivalents | 135,823,181.23 | 397,765,058.13 | -65.86% | [Audit Status](index=10&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's Q3 2022 report is unaudited - The company's third-quarter report is unaudited[28](index=28&type=chunk)