联化科技股份有限公司投资者关系活动记录表 证券代码：002250 证券简称：联化科技 编号：20160304 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------|----------------------------|-------------|--------------------|--------------------|----------------------------------------------------|-------|-------|--------------------------| | | | | | | | | | | | 投资者关系活动类别 | √特定对象调研 | | | | □分析师会议 | | | | | | | | | | □媒体采访 □业绩说明会 | | | | | | | | | | □新闻发布会 □路演活动 | | | | | | | | | | √现场参观 □其他（投资者接待日活动） | | | | | | 兴业证券 唐 | | 婕 | | 兴证资产管 ...

联化科技股份有限公司投资者关系活动记录表 证券代码：002250 证券简称：联化科技 编号：20160315 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------|--------------------------|-------|--------|-------------|------------------------------------------------------------|---------------|--------|--------------------------| | | | | | | | | | | | 投资者关系活动类别 | □特定对象调研 | | | | □分析师会议 | | | | | | □媒体采访 □业绩说明会 | | | | | | | | | | □新闻发布会 □路演活动 | | | | | | | | | | | | | | □现场参观 √其他（投资者接待日活动） | | | | | 参与单位名称及人员 | 机构投资者： | | | | | | | | ...

联化科技股份有限公司投资者关系活动记录表 证券代码：002250 证券简称：联化科技 编号：20170510 | --- | --- | --- | --- | --- | --- | --- | |--------------------|-----------------------------------------|--------|--------------------------|-------|---------------------|----------------------------------------------------------| | | | | | | | | | | | | | | | | | 投资者关系活动类别 | □特定对象调研 | | □分析师会议 | | | | | | □媒体采访 □业绩说明会 | | | | | | | | □新闻发布会 □路演活动 | | | | | | | | □现场参观 √其他（投资者接待日活动） | | | | | | | 参与单位名称及人员 | 兴业证券 徐留明、庄伟彬 巨衫资产 张力磁 | | | | | | | 姓名 | 大 ...

联化科技股份有限公司投资者关系活动记录表 证券代码：002250 证券简称：联化科技 编号：20170420 | --- | --- | --- | --- | --- | --- | |--------------------|--------------------------|----------------------------|-------------|------------------------------------------------------|----------------------------------------------------------------| | 投资者关系活动类别 | √特定对象调研 | | □分析师会议 | | | | | □媒体采访 □业绩说明会 | | | | | | | □新闻发布会 □路演活动 | | | | | | | | | | □现场参观 □其他（投资者接待日活动） | | | 参与单位名称及人员 | | | | 东北证券 邹兰兰、王栋 中泰证券 康海涛 | | | | 大平基金 | 张翼翔 | | 浙商证券 邓胜、曹承安 | | ...

Group 1: Agricultural Business Insights - The cyclical nature of the pesticide industry has led to a decrease in overall demand for pesticide intermediates in 2016, but communication with clients indicates that business in 2017 is expected to improve significantly compared to 2016 [1] - Mergers and restructuring among upstream clients, such as DuPont and Dow's merger, are likely to reduce and optimize the supplier list, which could benefit the company as a preferred supplier due to its competitive advantages in customized services [1] - The company currently has no plans to expand into the pesticide or pharmaceutical formulation fields, despite recognizing significant growth potential in the custom services for intermediates and active ingredients [1] Group 2: Pharmaceutical Business Strategy - The global market for pharmaceuticals is large, and the company's strategy focuses on the production of advanced intermediates and active pharmaceutical ingredients, aligning with client expectations [2] - The company targets innovative pharmaceutical companies rather than generic drug firms, emphasizing the importance of innovation and reliability as key supplier characteristics [2] - Many clients have chosen the company as their preferred strategic partner, entrusting it with the production of their marketed products and involving it in their R&D efforts, ensuring stable future business development [2] Group 3: Operational Challenges and Market Dynamics - The Texas facility's production halt due to a safety incident has impacted the company's performance, but production is being restored in an orderly manner, with expectations to return to normal levels by the end of November [2] - Fluctuations in raw material prices can affect profit margins for the company's proprietary products; however, for the custom processing business, which charges processing fees, the impact is minimal due to many products being under patent protection [2] - The company has established three major divisions for functional chemicals, aiming to integrate existing resources and expand product offerings, balancing custom processing and proprietary product development [2]

Group 1: Investor Relations Activities - The investor relations activity was a targeted research event held on November 22, 2016, at the company's Shanghai office [1] - Participants included representatives from various funds and securities firms, indicating a diverse interest in the company's performance [1] Group 2: Agricultural Chemicals Business - The company's agricultural chemicals business primarily serves international clients, with domestic sales being relatively small [1] - Demand for agricultural intermediates is expected to improve in 2017, as customer inventory levels have bottomed out [1] - The cyclical nature of the agricultural industry and customer inventory adjustments have led to a weakened overall demand in 2016 [1] Group 3: Pharmaceutical Business Strategy - The pharmaceutical market is large, and the company aims to focus on the production of high-end intermediates and active pharmaceutical ingredients [2] - The company is targeting innovative pharmaceutical companies rather than generic drug firms [2] Group 4: Mergers and Acquisitions - The company is actively seeking quality acquisition targets, focusing on pharmaceutical intermediates and active pharmaceutical ingredients [2] - There is a noted gap in quality control systems between Chinese companies and international pharmaceutical giants, affecting trust and supplier relationships [2] - The establishment of a mergers and acquisitions department is seen as a key strategy for future growth [2] Group 5: Production Recovery and Capital Expenditure - The production at the Texas facility is being restored in an orderly manner, with full recovery expected by the end of November 2016 [2] - The company has made significant investments in infrastructure in recent years, with future capital expenditures expected to be lower as expansions will primarily involve building and upgrading facilities [2] Group 6: Impact of Industry Consolidation - The acquisition of Syngenta by ChemChina is not expected to rapidly change the supply chain, and the company is confident in maintaining its competitive position [3] - The merger of DuPont and Dow is anticipated to enhance the company's status as a preferred supplier in the agricultural sector [3]

Group 1: Company Strategy and Leadership - The company has been pursuing an international development strategy since 2015, with a significant acquisition in February 2017 of a UK-based advanced R&D and production custom processing company [1] - Andreas Winterfeldt was appointed as the new CEO due to his extensive experience in multinational corporations and strong leadership demonstrated during his tenure in the pharmaceutical division [1] Group 2: Environmental Considerations - Recent increases in environmental fees due to stricter national policies may impact future development, but the company prioritizes environmental governance and aims to enhance its core competitiveness in this area [2] - The company’s factories are located in chemical parks, and it is committed to maintaining high levels of environmental investment [2] Group 3: Acquisition Rationale - The target company has negative net assets and profits primarily due to high capital costs, but it possesses certain gross margins that could improve post-acquisition through integration with the company [2] - The acquisition of FINE ORGANICS is expected to create synergies, as it focuses on early product lifecycle stages, complementing the company’s strengths in later stages [2] Group 4: Market Position and Future Prospects - The acquisition will transition the company from a regional player to an international competitor, enhancing market reach and strategic partnerships [3] - Recent mergers among multinational companies in the pesticide sector may favor the company as a preferred supplier due to its competitive advantages in customized services [3] - The successful FDA certification of the Jiangkou factory signifies a high-quality cGMP system, which will attract more strategic partnerships and positively impact future business performance [3]

Group 1: Company Operations and Strategy - The production at Texas Lianhua has fully resumed since early December 2016, and it will not impact the business in 2017 [1] - The establishment of a subsidiary in Singapore is a key step in the company's internationalization strategy, aimed at accumulating operational experience for future expansions outside China [1] - The company is actively seeking high-quality acquisition targets, focusing on intermediates and raw materials [1] Group 2: Market Dynamics and Challenges - The quality control systems of Chinese pharmaceutical companies still lag behind those of European and American clients, leading to a trust gap with international pharmaceutical giants [1] - Currently, Chinese pharmaceutical intermediates are small in scale and often serve as supplementary suppliers, with prices being 20%-30% higher than foreign products [1] - The global demand for agricultural intermediates weakened in 2016 due to the cyclical nature of the agricultural industry and inventory adjustments by clients [2] Group 3: Future Outlook and Financial Considerations - International agricultural giants have completed their destocking phase and are entering a restocking phase, which is expected to boost global agricultural demand in the coming years [2] - The company has made significant investments in its bases, such as the Duqiao base, and future capital expenditures are expected to decrease, potentially allowing for an increase in dividend payouts [2]

联化科技股份有限公司投资者关系活动记录表 证券代码：002250 证券简称：联化科技 编号：20170302 | --- | --- | --- | |-------------------------|-------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------| | 投资者关系活动类别 | √特定对象调研 | □分析师会议 | | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | | | □现场参观 □其他（投资者接待日活动） | | 参与单位名称及人员 姓名 | 银河基金 中融信托 圆信永丰 银华基金 薄官辉 兴全基金 | 张瑞 招商基金 吴锡雄 曹翔 中国人寿 阳宜洋 张一苇 远策投资 谢利 国泰基金 金烨 朱璘 富国基金 燕云 | | 时间 | 2017 年 3 月 2 日 | | | 地点 ...

Financial Performance - Operating revenue for the current period was ¥786,649,414.36, down 18.80% year-on-year[7] - Net profit attributable to shareholders was a loss of ¥22,112,720.82, a decrease of 1,103.62% compared to the same period last year[7] - Basic earnings per share were -¥0.0239, a decline of 1,019.23% year-on-year[7] - Operating revenue for the year-to-date was ¥2,606,352,892.78, a decrease of 10.31% compared to the same period last year[16] - Net cash flow from operating activities dropped by 69.79% to ¥156,748,754.89, mainly due to reduced cash receipts from sales[16] - The company experienced a 52.90% decrease in income tax expenses to ¥21,958,866.87, due to a reduction in total profit[16] - The net profit attributable to shareholders for 2018 is expected to range from ¥20,134.12 million to ¥12,080.47 million, reflecting a decrease of 40% to 90% compared to the previous year[20] Assets and Liabilities - Total assets decreased by 9.90% to ¥7,796,258,978.23 compared to the end of the previous year[7] - Cash and cash equivalents decreased by 50.32% to ¥569,946,731.64 due to no fundraising activities in the current period[15] - Accounts receivable decreased by 46.07% to ¥37,556,656.68, primarily due to reduced sales settled through notes[15] - Other non-current assets decreased by 92.98% to ¥36,068,516.33, primarily due to the recovery of collateral for loans to a UK subsidiary[15] - The company’s derivative financial liabilities rose by 1023.39% to ¥5,977,388.85, resulting from unrealized losses on hedging instruments[15] - The fair value of financial derivatives increased to ¥5,445,302.10, with a total ending amount of ¥5,977,388.85[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,429[11] - The largest shareholder, Mu Jinxiang, holds 27.49% of the shares, totaling 254,535,853 shares[11] - The company reported no significant changes in its shareholder structure or any repurchase transactions during the reporting period[12] Non-Operating Income and Expenses - Non-operating income included government subsidies amounting to ¥8,486,672.23[8] - Financial expenses increased by 34.92% to -¥27,755,058.28, mainly due to increased foreign exchange gains[16] - The company reported a significant increase in other income by 344.24% to ¥18,638,946.14, primarily from relocation compensation received[16] Operational Challenges and Future Outlook - The main subsidiaries, Jiangsu Lianhua and Yancheng Lianhua, experienced a shutdown for nearly 3.5 months starting from the end of April 2018, impacting profits in Q2 and Q3[20] - The company anticipates a recovery in performance in Q4 2018, returning to normal levels[20] Governance and Compliance - There were no violations regarding external guarantees during the reporting period[23] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[24] - The company did not engage in entrusted financial management during the reporting period[25] - No research, communication, or interview activities were conducted during the reporting period[26] Compensation and Performance Measures - The company remains committed to fulfilling its promises regarding stock incentives and performance measures[19] - The company’s compensation system is linked to the execution of performance recovery measures[19]