证券代码：002145 证券简称：中核钛白 中核华原钛白股份有限公司投资者关系活动记录表 编号：20181102 | --- | --- | --- | |----------------|--------------------------------|-------------------------------------------------------------| | | | | | 投资者关系活动 | 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 鲁华资产 申世保 中信建投 郑 勇 | | | 人员姓名 | 石榴投资 南小鹏 元葵资产 朱 寅 | | | | 安信证券 乔 璐 财通证券 赵新裕 | | | | | 江苏银行 朱俊宇 个人投资者 肖云茂 | | 时间 | 2018 年 11 月 2 | 日 上午 10 点 | | 地点 | | 江苏省无锡市锡山区张泾工业园区幸福路 8 号豪普大厦 40 ...

时间 2021 年 3 月 4 日 上午 10:30 地点 安徽省马鞍山市 上 市 公 司 总裁助理、东方钛业总经理 朱肖锋 接 待 人 员 副总裁 俞毅坤 证券代码：002145 证券简称：中核钛白 中核华原钛白股份有限公司投资者关系活动记录表 编号：20210304 | --- | --- | --- | --- | --- | --- | |----------|-----------|----------------------------|-------|----------|-------| | | | | | | | | | | □特定对象调研 分析师会议 | | | | | 投资者关 | □媒体采访 | □业绩说明会 | | | | | 系活动类 | | □新闻发布会 □路演活动 | | | | | 别 | □现场参观 | | | | | | | □其他 | （请文字说明其他活动内容） | | | | | | 序号 | 单位名称 | | 人员名称 | | | | 1 | 广发证券 | | 陈子坤 | | | | 2 | 广发证券 | | 纪成炜 | | | | 3 | 广发证券 | | 易达安 ...

Financial Performance - The company's revenue for Q3 2022 was ¥1,211,901,902.72, a decrease of 11.87% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥79,816,983.83, down 76.87% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥73,411,932.58, a decline of 78.10% compared to the previous year[2]. - The basic earnings per share were ¥0.0274, a decrease of 76.36% compared to the same period last year[2]. - The net profit for the third quarter of 2022 was CNY 617,093,534.24, a decrease of 38.4% compared to CNY 1,001,726,135.26 in the same period last year[24]. - Operating profit for the third quarter was CNY 734,507,350.42, down 38.8% from CNY 1,200,073,108.93 year-on-year[24]. - The company reported a total profit of CNY 730,516,219.00, down 38.9% from CNY 1,196,804,630.83 year-on-year[24]. - The basic and diluted earnings per share were both CNY 0.2089, compared to CNY 0.3364 in the same quarter last year[24]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥11,670,099,584.20, reflecting a 4.30% increase from the end of the previous year[3]. - The total liabilities increased to ¥4,706,883,551.86 from ¥4,229,200,225.75, reflecting a rise of approximately 11.3%[21]. - The total equity attributable to shareholders decreased by 0.71% to ¥6,909,916,241.67 compared to the end of the previous year[3]. - The company's cash and cash equivalents as of September 30, 2022, were ¥3,695,763,420.95, down from ¥3,909,775,513.83 at the beginning of the year, a decrease of about 5.5%[18]. - Cash and cash equivalents at the end of the period totaled CNY 3,301,092,020.81, down from CNY 2,190,577,659.09 at the end of the previous year[26]. Cash Flow - The company reported a net cash flow from operating activities of ¥916,955,296.77, an increase of 1.80% year-on-year[2]. - Cash flow from operating activities generated a net amount of CNY 916,955,296.77, slightly up from CNY 900,779,439.05 in the previous year[26]. - Cash flow from investing activities showed a net outflow of CNY 990,517,549.61, worsening from a net outflow of CNY 645,235,118.13 in the previous year[26]. Shareholder Actions - The company repurchased a total of 64,354,132 shares, accounting for 2.16% of the current total share capital[7]. - The company initiated a share buyback plan with a budget of up to RMB 1 billion, aiming to repurchase between 38.85 million and 77.7 million shares, depending on the final buyback price[15]. - The company’s repurchase account is specifically designated for share buybacks, indicating a strategic approach to managing shareholder value[7]. Investments and Subsidiaries - Company established a wholly-owned subsidiary, Anhui Jinxing New Energy Materials Co., Ltd., with a registered capital of RMB 200 million, to focus on battery cathode materials like lithium iron phosphate[11]. - Company set up a joint venture, Gansu Zetong Weili Energy Co., Ltd., with a registered capital of RMB 100 million, where the company holds 51% and its partner holds 49%[11]. - Company increased its investment in its wholly-owned subsidiary, Panzhihua Zetong Logistics Co., Ltd., by RMB 26 million, raising its registered capital from RMB 150 million to RMB 176 million[12]. - Company introduced Xiamen Zhengjia Supply Chain Management Co., Ltd. as an investor in Zetong Logistics, raising RMB 43 million, which resulted in a 18.17% equity stake for the new investor[13]. - Company acquired 100% of the equity in Zhonghe Era New Energy Co., Ltd. for RMB 49 million, enhancing its position in the new materials and new energy sectors[16]. Research and Development - The company reported a significant increase in research and development expenses to ¥96,836,990.70 from ¥109,572,261.78, suggesting a focus on innovation despite a decrease in spending[22]. Management Changes - The company appointed a new president, Ms. Yuan Qiuli, and other senior management during the reporting period, indicating a strategic shift in leadership[17]. Profit Distribution - The company’s 2021 profit distribution plan includes a cash dividend of RMB 0.8 per 10 shares and a capital reserve conversion of 4.5 shares for every 10 shares held[8]. - Company approved a profit distribution plan for 2021, distributing cash dividends of RMB 0.8 per 10 shares, totaling RMB 164.29 million, and increasing share capital by 924.15 million shares from capital reserves[14].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥2.87 billion, representing a 10.15% increase compared to ¥2.61 billion in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 18.23% to approximately ¥537 million from ¥657 million in the previous year[11]. - The net profit after deducting non-recurring gains and losses also fell by 18.37%, amounting to approximately ¥519 million compared to ¥636 million in the same period last year[11]. - The basic earnings per share decreased by 18.05% to ¥0.1807 from ¥0.2205 in the same period last year[11]. - The diluted earnings per share also decreased by 18.05%, remaining at ¥0.1807 compared to ¥0.2205 in the previous year[11]. - The weighted average return on equity was 7.51%, down from 10.69% in the previous year, a decrease of 3.18 percentage points[11]. - The total revenue for the first half of 2022 was approximately 275.98 million CNY[45]. - The company reported a total of 37.40 million CNY in initial investment for derivative products[47]. - The total comprehensive income for the first half of 2022 was CNY 537,025,258.37, down from CNY 656,713,318.67 in the same period of 2021[144]. - The total profit for the first half of 2022 was CNY 638,986,132.77, compared to CNY 791,287,525.25 in the same period of 2021, reflecting a decline of 19.2%[143]. Cash Flow and Investments - The net cash flow from operating activities increased by 18.94% to approximately ¥875 million, up from ¥736 million in the previous year[11]. - Cash and cash equivalents at the end of the reporting period amounted to ¥3,347,671,338.44, representing 28.81% of total assets, a decrease of 6.13% from the previous year[37]. - The total investment during the reporting period was ¥265,061,179.33, a substantial decrease of 80.53% compared to ¥1,361,500,000.00 in the same period last year[42]. - The company reported a net cash outflow from financing activities of negative CNY 86,393,169.33, contrasting with a net inflow of CNY 182,951,293.35 in the first half of 2021[149]. - The company received CNY 970,000,000.00 from investment recoveries, down from CNY 2,600,000,000.00 in the previous year, indicating a decline in cash inflows from investments[149]. Market and Product Development - The company's main product, rutile titanium dioxide, accounted for over 95% of total sales revenue during the reporting period[18]. - The company aims to expand its market presence by enhancing research and development efforts and leveraging brand advantages[21]. - The company is actively involved in the development of new applications for titanium dioxide in emerging sectors such as renewable energy and medical uses[17]. - The company has maintained a business strategy focused on production-driven sales and cost control as core principles[21]. - The company is focusing on market expansion, as evidenced by multiple sales transactions exceeding 1,000 million in the first half of 2022, indicating a robust market presence[99]. Strategic Initiatives - The company plans to build a production line with an annual capacity of 200,000 tons of crude titanium dioxide and a finished product line with an annual capacity of 300,000 tons as part of its investment projects[23]. - The company is implementing a strategy of "internal growth and external mergers" to expand its business across four major sectors: resources, chemicals, new materials, and new energy[22]. - The company has established a strategic cooperation framework with Qinghai Jintai Potash Fertilizer Co., Ltd., securing core raw material resources for its main products[24]. - The company is developing a 2GW integrated renewable energy project, which will significantly increase the proportion of green electricity in its energy consumption structure[24]. Environmental and Social Responsibility - The company reported no significant environmental violations, with all monitored pollutants meeting the required standards[72]. - The total discharge of COD was 118.546 tons, well below the approved limit of 613.813 tons[72]. - The company donated 2 million yuan to the Red Cross Society for COVID-19 prevention efforts during the reporting period[82]. - The company has implemented an online monitoring system for major discharge outlets to ensure compliance with pollution discharge permits[75]. - The company has conducted emergency response drills to enhance employees' awareness and preparedness for environmental incidents[78]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[2]. - The company held two temporary shareholder meetings and one annual meeting in 2022, with investor participation rates of 49.48% and 44.10% respectively[63]. - Key management changes occurred on May 17, 2022, including the election of a new chairman and several board members[64]. - The company has maintained a good integrity status, with no significant debts or court judgments outstanding[91]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[90]. Research and Development - The company's research and development investment amounted to ¥70,997,504.33, reflecting a 5.37% increase from ¥67,380,433.71 in the same period last year[34]. - The company has been granted 19 invention patents and 62 utility model patents, contributing to significant economic and social benefits[29]. - Research and development expenses increased to CNY 70,945,902.44, up from CNY 67,372,595.41 in the previous year[143]. - The company is focusing on research and development of new technologies to maintain competitive advantage[102]. Financial Position and Liabilities - The total assets at the end of the reporting period were approximately ¥11.62 billion, reflecting a 3.85% increase from ¥11.19 billion at the end of the previous year[11]. - The total liabilities of the company increased to approximately CNY 7.01 billion, compared to CNY 6.99 billion at the beginning of the year, showing a slight increase of about 0.3%[138]. - The company's total equity at the end of the reporting period was CNY 6,096,328,554.81, a decrease of CNY 258,083,392.98 compared to the previous period[158]. - The company’s total liabilities at the end of the reporting period were CNY 1,646,208,690.78[160].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,489,490,253.92, representing a 20.52% increase compared to ¥1,235,850,264.21 in the same period last year[2] - Net profit attributable to shareholders was ¥300,485,107.45, up 4.61% from ¥287,248,523.71 year-on-year[2] - Operating profit for the quarter was CNY 357,804,788.28, slightly higher than CNY 346,355,867.52 in the previous year, indicating a year-on-year increase of 3.9%[14] - Basic and diluted earnings per share for Q1 2022 were both CNY 0.1463, compared to CNY 0.1399 in Q1 2021, marking an increase of 2.9%[15] - Total operating costs for the quarter were CNY 1,142,520,059.82, up from CNY 903,140,014.09, reflecting a rise of 26.5%[13] - Research and development expenses increased to CNY 34,256,475.27 from CNY 26,811,351.27, indicating a growth of 27.6% year-on-year[13] - Tax expenses for the quarter were CNY 56,802,540.50, slightly down from CNY 59,781,740.72 in the same period last year, a decrease of 3.3%[14] Cash Flow - The net cash flow from operating activities increased by 146.43%, reaching ¥215,864,075.67, compared to ¥87,595,366.57 in the previous year[2] - Cash inflow from operating activities was CNY 1,459,552,899.80, significantly higher than CNY 741,829,358.68 in the same period last year, showing an increase of 96.5%[16] - The company reported a total cash outflow of CNY 1,243,688,824.13 from operating activities, significantly higher than CNY 654,233,992.11 in the prior year[18] - The cash flow from financing activities included CNY 277,280,723.01 received from borrowings, an increase from CNY 210,518,000.00 in the previous year[19] - The net cash flow from financing activities was CNY 70,960,044.40, a decrease from CNY 110,871,546.19 year-over-year[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,645,020,258.93, a 4.08% increase from ¥11,188,604,285.46 at the end of the previous year[2] - The company's current assets totaled CNY 7,347,104,924.85, up from CNY 6,989,127,861.45 at the start of the year, indicating a growth of approximately 5.16%[11] - Total liabilities reached CNY 4,385,131,091.77, compared to CNY 4,229,200,225.75 at the beginning of the year, marking an increase of about 3.69%[12] - The company's equity attributable to shareholders was CNY 7,259,889,167.16, up from CNY 6,959,404,059.71, indicating a growth of approximately 4.31%[12] Shareholder Information - The company reported a total of 110,366 common shareholders at the end of the reporting period[5] - The largest shareholder, Wang Zelong, holds 43.48% of the shares, totaling 892,927,745 shares[6] Non-Recurring Gains and Losses - The company recorded non-recurring gains and losses totaling ¥8,340,825.32 for the reporting period[3] - The company does not have any other non-recurring gains and losses beyond those reported[3] Investment Activities - The cash flow from investment activities saw a significant decrease of 2407.18%, primarily due to increased payments for project costs and financial products[4] - The total cash outflow from investing activities was CNY 479,824,116.02, compared to CNY 1,371,314,160.98 in the same period last year[18] - The cash inflow from investment activities was CNY 70,325,618.36, a decrease from CNY 1,354,981,130.02 year-over-year[18] - The company incurred CNY 134,824,116.02 in cash payments for fixed assets and intangible assets, compared to CNY 11,314,160.98 in the previous year[18] - The company experienced a negative cash flow from investing activities of CNY 409,498,497.66, worsening from CNY -16,333,030.96 in the same quarter last year[18] Regulatory and Corporate Actions - The company approved a one-year extension of the 2020 employee stock ownership plan, now set to expire on August 16, 2023[9] - The company also approved a one-year extension of the fifth employee stock ownership plan, now set to expire on September 29, 2023[9] - The company received a notice from the China Securities Regulatory Commission to suspend the review of its non-public stock issuance due to an investigation of its auditing firm, but this will not significantly impact its operations[9]

Financial Performance - The company achieved a revenue of 5.374 billion yuan, representing a year-on-year increase of 44.64%[55]. - The net profit attributable to shareholders reached 1.217 billion yuan, a significant year-on-year growth of 156.03%[55]. - The basic earnings per share for 2021 was CNY 0.5924, an increase of 117.31% from CNY 0.2726 in 2020[12]. - The total operating revenue for the year 2021 reached ¥5,374,133,599.51, representing a 44.64% increase compared to ¥3,715,579,733.60 in 2020[63]. - The revenue from the fine chemical sector accounted for 98.89% of total revenue, amounting to ¥5,314,435,594.12, which is a 43.91% increase from ¥3,692,958,416.73 in the previous year[63]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[128]. - The company reported a net profit margin of 12%, which is an improvement from 10% in the previous year[128]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 0.80 RMB per 10 shares to all shareholders, based on a total of 2,053,673,321 shares[2]. - The company approved a cash dividend of RMB 0.4 per 10 shares based on a total share capital of 2,053,673,321 shares, with the distribution completed on May 27, 2021[149]. - The company plans to distribute a cash dividend of 0.80 CNY per 10 shares, totaling 164,293,865.68 CNY, which accounts for 100% of the distributable profit[151]. Business Operations and Strategy - The company has a total of 4.5 bonus shares for every 10 shares held, to be distributed from the capital reserve[2]. - The company is focused on expanding its production capacity and enhancing its competitive edge through mergers, acquisitions, and technological upgrades[28]. - The company is pursuing a strategic cooperation framework with Qinghai Jintai Potash Fertilizer, which is expected to stabilize core raw material supply for its new materials industry[143]. - The company plans to focus on four major business sectors: resources, titanium chemicals, new materials, and new energy during the 14th Five-Year Plan period[107]. - The company aims to become one of the largest sulfuric acid titanium dioxide producers globally and the most competitive lithium iron phosphate production base[107]. Production and Capacity - The company has a production capacity of nearly 400,000 tons of rutile titanium dioxide, ranking second in China and sixth globally[28]. - The company reported a total titanium dioxide production capacity of approximately 800,000 tons per year, with a focus on sulfate process titanium dioxide[37]. - The company is currently constructing a project for an annual output of 200,000 tons of titanium dioxide, which is expected to commence trial operations by the end of 2022[43]. - The company plans to produce and sell 365,000 tons of rutile titanium dioxide in 2022[111]. Research and Development - The company has established eight product series, with R-217 leading the market share in high-end decorative paper applications[4]. - The company is focusing on new product development and technological advancements to maintain competitive advantage[134]. - The company is developing titanium dioxide for high-temperature PVC applications, which is expected to expand its product offerings and market reach[74]. - The company has ongoing research and development in new materials, including new energy materials and conductive materials[91]. - The number of R&D personnel increased to 236 in 2021, a growth of 6.31% compared to 222 in 2020[80]. Environmental Responsibility - The company has implemented measures to ensure all pollutants are within the required standards, with no instances of exceeding emission limits reported[179]. - The company has conducted emergency drills to enhance employees' awareness and response capabilities for potential environmental incidents[184]. - The company is committed to enhancing its governance and internal control systems to support high-quality development in the future[177]. - The company has successfully upgraded its gas treatment facilities, improving the efficiency of pollutant removal and reducing emissions[183]. - The company has installed online monitoring facilities for key emission points, ensuring continuous data transmission and compliance with environmental standards[186]. Governance and Compliance - The company maintains complete independence from its controlling shareholder in terms of personnel, assets, finance, and operations, with no instances of fund occupation or guarantees provided to the controlling shareholder during the reporting period[120]. - The company has established a fair and transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management, ensuring compliance with relevant laws and regulations[119]. - The company has established a comprehensive internal control system in accordance with relevant laws and regulations, effectively preventing operational risks[168]. - The internal control audit report confirmed that the company maintained effective internal controls related to financial statements as of December 31, 2021[176]. - The company has not encountered any major changes in the feasibility of its fundraising investment projects during the reporting period[99]. Market and Industry Trends - The demand for titanium dioxide in the domestic market is expected to remain stable, driven by infrastructure development in Southeast Asia and steady growth in downstream industries such as plastics and coatings[26]. - The domestic titanium dioxide industry is expected to see new production capacity of about 500,000 to 1 million tons in 2022, with an estimated total production of around 4.3 million tons[26]. - The overall growth of the plastic products manufacturing market in China is expected to reach CNY 3.29 trillion by 2023, indicating a stable growth trend[38]. - The company is actively pursuing the acquisition of assets from bankrupt companies to strengthen its market position in the Panzhihua region[142]. Employee Engagement and Development - The total number of employees at the end of the reporting period was 2,821, with 1,905 in production, 53 in sales, and 158 in technical roles[146]. - Employee salaries increased by 7% compared to 2020, with performance assessments linking individual income to company performance metrics[147]. - A total of over 6,000 employee training sessions were conducted during the year, accumulating 79,000 training hours to enhance overall employee skills[148]. - The company has established a comprehensive training system to improve management and operational skills, aligning with strategic development needs[148]. Financial Position and Investments - The company's cash and cash equivalents increased by ¥1,791,722,528.08 in 2021, a growth of 58.63% compared to ¥1,129,520,343.93 in 2020[82]. - The total investment amount for the reporting period reached ¥1,704,243,358.50, a significant increase of 581.70% compared to ¥250,000,000.00 in the same period last year[88]. - The company has established a management system for foreign exchange hedging to control risks associated with market fluctuations[94]. - The company has reported a cumulative investment of CNY 777.61 million in its projects, with an expected return of CNY 783.86 million[92].

Financial Performance - The company's operating revenue for the third quarter reached ¥1,375,181,315.13, an increase of 27.63% compared to the same period last year[2] - Net profit attributable to shareholders was ¥345,012,816.59, representing a significant increase of 211.16% year-on-year[2] - The basic earnings per share (EPS) was ¥0.1680, up 127.33% from the previous year[2] - Revenue for the third quarter reached CNY 3,984,897,566.77, an increase of 46.77% compared to CNY 2,715,097,264.09 in the previous year[5] - Net profit attributable to shareholders increased by 58.67% to CNY 2,487,032,344.37, driven by higher sales and profitability[5] - The net profit attributable to shareholders for the first nine months was RMB 1.002 billion, reflecting a year-on-year increase of 181.37%[8] - The net profit for the third quarter reached CNY 1.00 billion, compared to CNY 356 million in the previous year, marking a significant increase of 181.2%[19] - The total profit for the quarter was CNY 1.20 billion, up from CNY 428 million, reflecting a growth of 179.5%[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥10,674,487,301.88, reflecting a growth of 30.58% compared to the end of the previous year[2] - The total assets of the company increased to approximately CNY 10.67 billion as of September 30, 2021, compared to CNY 8.17 billion at the end of 2020, reflecting a growth of about 30.5%[16] - The total liabilities of the company rose to approximately CNY 3.93 billion, compared to CNY 2.35 billion in the previous year, which is an increase of about 67.0%[17] - The total liabilities amounted to 2,347,966,914.52 CNY, compared to 2,353,572,689.65 CNY in the previous year[24] Cash Flow - The company's net cash flow from operating activities reached ¥900,779,439.05, an increase of 147.49% year-to-date[2] - Cash flow from operating activities increased by 57.67% to CNY 3,255,653,202.54, attributed to higher revenue and improved collections[5] - The cash inflow from sales of CNY 3.26 billion, compared to CNY 2.06 billion in the previous year, representing a growth of 57.5%[20] - The net cash inflow from investment activities was -645,235,118.13 CNY, a significant decrease compared to 90,510,437.68 CNY in the previous year[21] - The total cash and cash equivalents at the end of the period amounted to 2,190,577,659.09 CNY, down from 2,325,051,921.35 CNY year-over-year[21] Investments and R&D - R&D expenses increased by 121.97% to CNY 109,572,261.78, primarily due to increased investment by subsidiary Dongfang Titanium[5] - The company reported a significant increase in investment income, which rose by 973.60% to CNY 28,739,854.28, due to higher returns from financial products[5] - Research and development expenses amounted to CNY 109.57 million, up from CNY 49.36 million, reflecting a year-over-year increase of 121.4%[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 95,084, with the largest shareholder holding 43.48% of the shares[7] - The company's total equity attributable to shareholders was ¥6,746,409,737.84, up 15.78% from the end of the previous year[2] Inventory and Receivables - The inventory increased by 38.27% to ¥581,630,595.03, primarily due to strategic reserves of raw materials and rising prices[4] - The accounts receivable rose by 104.99% to ¥875,022,557.49, attributed to increased revenue leading to higher receivables[4] - The company's inventory increased to approximately CNY 581.63 million from CNY 420.64 million, reflecting a rise of about 38.3%[15] - The company reported a significant increase in accounts receivable, which rose to approximately CNY 875.02 million from CNY 426.86 million, representing a growth of about 105.5%[15] Future Plans and Strategies - The company plans to continue expanding its market presence and investing in new technologies to enhance product offerings[5] - The company plans to establish a joint venture with CATL to invest in renewable energy projects, including photovoltaic and wind power[11] - The company has initiated a non-public offering of A-shares to raise up to RMB 709.1 million for various projects, including deep processing of titanium dioxide[12] - The company has established a new materials research institute to enhance its technological innovation capabilities[12] - The company plans to continue its market expansion and product development initiatives, focusing on sustainable and innovative solutions in the chemical industry[14] Other Information - The third quarter report of China Nuclear Huayuan Titanium Dioxide Co., Ltd. has not been audited[25] - The company has implemented the new leasing standards starting from 2021, with retrospective adjustments to prior comparative data[25] - Future outlook and performance guidance are not mentioned in the document[25] - No new products or technologies are discussed in the document[25] - Market expansion and mergers or acquisitions are not addressed in the document[25]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥2,609,716,251.64, representing a 59.36% increase compared to ¥1,637,621,259.41 in the same period last year[28]. - Net profit attributable to shareholders was ¥656,713,318.67, a significant increase of 167.89% from ¥245,140,029.70 in the previous year[28]. - The net profit after deducting non-recurring gains and losses was ¥636,217,807.82, up 185.46% from ¥222,875,497.53 year-on-year[28]. - The net cash flow from operating activities was ¥735,959,996.03, reflecting a 165.31% increase compared to ¥277,396,173.44 in the same period last year[28]. - Basic earnings per share increased by 92.19% to ¥0.3198 from ¥0.1664 in the previous year[28]. - Total assets at the end of the reporting period were ¥9,779,755,036.36, a 19.63% increase from ¥8,174,797,449.94 at the end of the previous year[28]. - Net assets attributable to shareholders increased by 9.86% to ¥6,401,396,921.25 from ¥5,826,830,535.42 at the end of the previous year[28]. - The weighted average return on equity was 10.69%, up from 7.23% in the previous year, an increase of 3.46%[28]. Market and Industry Insights - The company has an annual production capacity of nearly 400,000 tons of rutile titanium dioxide, ranking second in China and sixth globally[38]. - In the first half of 2021, domestic titanium dioxide production was approximately 1.91 million tons, an increase of 18.58% year-on-year, with a growth of about 300,000 tons compared to the same period last year[42]. - The titanium dioxide industry in China accounted for approximately 49% of global production capacity in 2020, with a total capacity of about 403,000 tons[39]. - The demand for titanium dioxide in the international market has been strong, leading to an increase in export orders[42]. - The stable demand for titanium dioxide is supported by the growth of the middle class and their consumption capacity, which is expected to drive the industry forward[41]. - The industry is expected to undergo further consolidation in the next 3-5 years, leading to a few influential manufacturers competing in the international market[39]. - The company exports over 40% of its sales revenue, indicating a continuous growth trend in international business, which exposes it to foreign exchange risk[88]. Operational Strategies - The company focuses on expanding its market presence in Southeast Asia and other emerging markets while reducing the number of distributors in the domestic market[42]. - The company has implemented cost control measures, optimizing production processes and reducing expenses to maximize efficiency[42]. - The company maintains a competitive edge through its early entry into the market and established production capabilities, enhancing product quality and cost-effectiveness[43]. - The company is leveraging its production bases in Gansu and Anhui to optimize production capacity and reduce costs, enhancing competitiveness[49]. - The company is focused on cost control and market expansion strategies to mitigate risks associated with procurement and sales price fluctuations[89]. Research and Development - The company has established a high-quality R&D team with 447 sets of various R&D and testing equipment, focusing on technological innovation and product development[44]. - The company has developed eight major product series, with R-217 leading the market share in high-end decorative paper applications and R-216 receiving quality certification from international companies[44]. - The company has authorized 19 invention patents and 62 utility model patents, contributing to significant economic and social benefits[44]. - Research and development expenses rose by 96.72% to ¥67,380,433.71, mainly due to increased R&D investments by the subsidiary Dongfang Titanium Industry[56]. - The company plans to enhance its research and development investments and technical capabilities to improve competitiveness in the industry[89]. Environmental Management - The company has achieved compliance with emission standards for various pollutants, including 6.731 tons of SO2 and 2.602 tons of particulate matter from continuous emissions at the Jin Xing Titanium Dioxide facility[114]. - The company reported a total of 67.052 tons of COD and 3.771 tons of ammonia nitrogen from continuous emissions at the He Cheng Titanium Industry facility, all meeting regulatory standards[116]. - The company has invested in upgrading environmental protection facilities, including modifications to the acid resolution exhaust system and online monitoring equipment[119]. - The company has established a comprehensive emergency response plan for environmental incidents, ensuring preparedness and compliance with national regulations[121]. - The company has implemented a dynamic monitoring system for environmental emissions, achieving real-time monitoring and compliance with environmental regulations[121]. - The company reported no administrative penalties for environmental issues during the reporting period, indicating effective compliance management[121]. - The company continues to enhance its environmental management practices, reflecting a commitment to sustainability and regulatory adherence[119]. Financial Commitments and Guarantees - The company has issued guarantees primarily for related parties, with no guarantees reported for subsidiaries[148]. - The total approved guarantee amount at the end of the reporting period is 580,000, with an actual guarantee balance of 169,980.58, representing 26.55% of the company's net assets[159]. - The company has engaged in entrusted financial management with a total amount of 150,000, including 135,000 in bank financial products and 15,000 in brokerage financial products[161]. - The total actual guarantee amount during the reporting period was 132,339.52, with no guarantees provided to shareholders or related parties[159]. - The company has not provided guarantees exceeding 50% of net assets, ensuring compliance with financial regulations[159]. Shareholder and Management Activities - The company did not distribute cash dividends or bonus shares for the half-year period[97]. - The company held four shareholder meetings during the reporting period, with participation rates ranging from 43.87% to 50.08%[92]. - The company has experienced changes in its board of directors, with new appointments and resignations during the reporting period[96]. - The company’s management changes included resignations and appointments, with announcements made on January 16, February 3, and April 27, 2021[164]. - The company completed the implementation of the 2020 profit distribution plan on April 27, 2021[164]. Asset and Liability Management - Total liabilities increased to CNY 3,378,358,115.11 from CNY 2,347,966,914.52, representing a growth of approximately 43.8% year-over-year[199]. - Current liabilities rose to CNY 3,210,346,594.96, up from CNY 2,094,668,454.54, indicating an increase of about 53.3%[199]. - Non-current liabilities decreased to CNY 168,011,520.15 from CNY 253,298,459.98, reflecting a decline of approximately 33.7%[199]. - Employee compensation payable was CNY 16,144,221.68, down from CNY 30,064,939.86, indicating a reduction of about 46.3%[199]. - Tax payable increased to CNY 113,819,346.71 from CNY 48,235,911.72, representing an increase of approximately 136.3%[199].

Financial Performance - The company's operating revenue for 2020 was CNY 3,715,579,733.60, representing a 10.03% increase compared to CNY 3,376,980,217.30 in 2019[12] - The net profit attributable to shareholders for 2020 was CNY 475,201,822.10, which is a 10.27% increase from CNY 430,939,894.90 in the previous year[12] - The net profit after deducting non-recurring gains and losses was CNY 436,993,827.55, reflecting an 8.73% increase compared to CNY 401,898,003.32 in 2019[12] - The net cash flow from operating activities for 2020 was CNY 718,012,713.39, up 28.16% from CNY 560,242,354.94 in 2019[12] - The basic earnings per share for 2020 was CNY 0.2726, a slight decrease of 1.09% from CNY 0.2756 in 2019[12] - The diluted earnings per share for 2020 was also CNY 0.2726, showing a decrease of 1.09% compared to the previous year[12] - The weighted average return on equity for 2020 was 11.73%, down from 12.97% in 2019, indicating a decline of 1.24%[12] - Quarterly revenue for Q4 2020 was approximately CNY 1.00 billion, with a total annual revenue of approximately CNY 3.72 billion[15] - Net profit attributable to shareholders for Q4 2020 was approximately CNY 119.18 million, showing a significant recovery from Q2 2020[15] Market and Industry Insights - The company has a production capacity of nearly 400,000 tons of rutile titanium dioxide per year, ranking second in China and sixth globally[18] - In 2020, China's titanium dioxide production capacity was approximately 4.03 million tons, accounting for 49% of global capacity[20] - The market for titanium dioxide is expanding into new sectors such as renewable energy and medical applications, indicating strong future growth potential[18] - The titanium dioxide industry is a niche market but serves as a barometer for the national economy, with demand closely linked to the population and consumption capacity of the middle class[21] - The company reported a stable demand for titanium dioxide, supported by supply-side reforms and the elimination of outdated production capacity, leading to a balanced supply and demand situation[22] - The industry is expected to maintain a slight growth trend, avoiding severe cyclical fluctuations due to increasing industry concentration and stable demand[22] Production and Technology - The production process involves multiple stages, including crushing, acid leaching, crystallization, and calcination, ensuring high-quality titanium dioxide products[23][24][25][26][27] - The company emphasizes the importance of controlling the production environment to achieve desired product characteristics, such as color, gloss, and dispersibility[27] - The company is focused on enhancing its production technology to improve efficiency and product quality, which is crucial for maintaining competitiveness in the market[26] - Future expansion plans include increasing production capacity and exploring new markets to meet growing demand for titanium dioxide[22] - The company is committed to ongoing research and development of new products and technologies to enhance its product offerings and market position[22] Financial Strategies and Investments - The company has signed strategic cooperation agreements in regions such as Gansu, Panzhihua, and Xinjiang to promote the construction of non-public stock issuance projects in 2020[30] - The company has achieved a significant increase in cash due to the completion of non-public stock issuance, resulting in a substantial inflow of funds[31] - The company has established strategic partnerships with several banks, securing over 10 billion yuan in intended credit lines to optimize its financing structure[44] - The company successfully completed a non-public stock issuance, raising nearly 1.6 billion yuan for a 200,000 tons/year titanium dioxide post-processing project and to supplement working capital[42] - The company has a remaining balance of ¥319.54 million in raised funds, including interest and investment income[79] Environmental and Compliance Efforts - The company emphasizes environmental protection, achieving compliance with waste discharge standards and improving its environmental management[49] - The company has invested in environmental protection facilities, ensuring all pollutants met discharge standards in 2020[158] - The company conducted daily self-monitoring of pollutant emissions and engaged third-party testing to ensure compliance with environmental regulations[157] - The company completed environmental impact assessments for construction projects in accordance with legal requirements[158] - The company’s environmental monitoring plan was executed effectively, ensuring pollutants were within the required limits[157] Shareholder and Governance Matters - The company plans to distribute cash dividends of CNY 0.1 per share based on a total share capital of 2,053,673,321 shares[3] - The cash dividend represents 100% of the total profit distribution amount, with a distributable profit of 534,328,294.33 yuan[108] - The company has a policy to distribute at least 10% of the annual distributable profit as cash dividends, ensuring protection for minority shareholders[105] - The company has maintained a consistent cash dividend policy over the past three years, with a cumulative cash dividend distribution of at least 30% of the average annual distributable profit[105] - The company has not proposed any stock dividend distribution for the reporting period[107] Employee Engagement and Training - The company has implemented an employee stock ownership plan (ESOP) in 2020, transferring 77,970,000 shares at a price of CNY 4.24 per share, which represents 4.90% of the total share capital[129] - The company emphasizes training for new employees, including orientation on company culture, product knowledge, and safety education[199] - Ongoing training for current employees focuses on operational standards, technical skills, and corporate values to enhance overall competency[200] - Management training is provided to middle-level managers to improve leadership skills and foster team cohesion[200] - The company aims to align employee goals with corporate objectives to achieve mutual growth and enhance employee engagement[198] Future Outlook and Strategic Goals - The company has outlined a future outlook with a revenue guidance of 7,000 million for the upcoming fiscal year, representing an expected growth of 41.5% compared to the current year's revenue[146] - The company plans to establish a circular economy industrial base in Baiyin, focusing on the production of 200,000 tons of titanium dioxide crude products and 300,000 tons of finished products during the 14th Five-Year Plan period[95] - The company aims to implement a series of investment projects in three phases, with the first phase (2021-2023) including the production of 200,000 tons of titanium dioxide crude products and 300,000 tons of finished products[95] - The company will utilize by-products from titanium dioxide production, such as waste sulfuric acid, to produce 500,000 tons of water-soluble monoammonium phosphate and 500,000 tons of lithium iron phosphate[95] - The company is focusing on research and development, allocating 5% of its annual revenue towards innovative technologies in the titanium industry[146]

Financial Performance - The company's revenue for Q1 2021 was CNY 1,235,850,264.21, representing a 49.53% increase compared to CNY 826,503,691.28 in the same period last year[3] - Net profit attributable to shareholders was CNY 287,248,523.71, up 77.29% from CNY 162,025,054.64 year-on-year[3] - The net profit after deducting non-recurring gains and losses was CNY 275,199,094.02, reflecting a 92.16% increase from CNY 143,212,143.01 in the previous year[3] - Basic earnings per share increased to CNY 0.1399, a rise of 39.90% from CNY 0.1000 in the previous year[3] - The company reported a significant increase in investment income, up 10,893.38% to CNY 8,203,668.50, due to higher returns from financial products[10] - The total comprehensive income for the period reached ¥287,248,523.71, compared to ¥162,025,054.64 in the previous period, reflecting a significant increase[37] Cash Flow and Assets - The net cash flow from operating activities was CNY 87,595,366.57, which is a 14.37% increase compared to CNY 76,590,971.78 in the same period last year[3] - The company's cash and cash equivalents amounted to CNY 2.23 billion, up from CNY 1.94 billion at the end of 2020, indicating an increase of approximately 14.61%[27] - The total assets at the end of the reporting period were CNY 9,233,495,934.36, marking a 12.95% increase from CNY 8,174,797,449.94 at the end of the previous year[3] - The company's inventory as of March 31, 2021, was CNY 501.91 million, compared to CNY 420.64 million at the end of 2020, marking an increase of approximately 19.33%[27] - The total cash and cash equivalents at the end of the period reached ¥1,782,148,082.02, up from ¥509,212,409.45 at the end of the previous period[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 81,005[6] - The largest shareholder, Wang Zelong, held 43.48% of the shares, totaling 892,927,745 shares[6] - The total equity attributable to the parent company was CNY 6.11 billion, up from CNY 5.83 billion, representing an increase of about 4.93%[30] Liabilities and Debt - Short-term borrowings increased by 40.72% to CNY 517,421,830.00, indicating a rise in borrowing during the reporting period[10] - The total current liabilities increased to CNY 2.86 billion from CNY 2.09 billion, reflecting a rise of about 36.67%[29] - The cash outflow for debt repayment was ¥60,489,990.00, significantly lower than ¥220,000,000.00 in the previous period[44] Research and Development - Research and development expenses rose by 47.46% to CNY 26,811,351.27, reflecting increased investment in R&D[10] - Research and development expenses for Q1 2021 were ¥26,811,351.27, an increase from ¥18,182,004.32 in Q1 2020[35] Investments and Projects - The company plans to invest in multiple projects, including a 200,000-ton titanium dioxide production line and a 500,000-ton lithium iron phosphate project[13] - The company has initiated a capital increase for its wholly-owned subsidiary, Dongfang Titanium, amounting to CNY 78 million[15] - The company has invested in a lithium iron phosphate project with an annual production capacity of 500,000 tons, announced on February 4, 2021[18] - The company is also investing in a resource recycling project for water-soluble monoammonium phosphate, announced on February 4, 2021[18] - The company has initiated a project for deep processing of recycled titanium dioxide, announced on February 4, 2021[18] Compliance and Governance - The company has established a management system for foreign exchange hedging, ensuring compliance with regulatory requirements and effective risk control measures[20] - There were no overdue commitments from the actual controller, shareholders, or related parties during the reporting period[17] - The company has not reported any violations regarding external guarantees during the reporting period[24] Miscellaneous - The company has engaged in foreign exchange hedging activities, with a total investment amount of CNY 55,307.33 million and a year-end investment amount of CNY 39,309.99 million, representing 6.43% of the company's net assets[19] - The company has not engaged in any securities investments during the reporting period[18] - The first quarter report for 2021 was not audited[50]