[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Section%201%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) The company's board ensures report accuracy, outlines the 2019 profit distribution plan, and highlights key risks including industry competition and raw material price fluctuations - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the report content, free from false records, misleading statements, or major omissions[3](index=3&type=chunk) - The company's 2019 profit distribution plan proposes a cash dividend of **0.8 yuan per 10 shares** (tax inclusive) to all shareholders, based on 718,126,381 shares[3](index=3&type=chunk) - The report highlights risks such as industry competition, raw material price fluctuations, environmental and safety production issues, and restrictions on controlling shareholder rights[3](index=3&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This chapter provides the company's basic information, contact details, and disclosure channels, primarily presenting key financial data for 2019, showing **operating revenue of 3.016 billion yuan** (down 3.55%) and **net profit attributable to shareholders of 238 million yuan** (down 20.66%), with **operating cash flow up 37.39%** and significant non-recurring gains from land compensation [Company Basic Information](index=6&type=section&id=I.%20Company%20Information) This section provides the company's registration information, stock code (002538), listing exchange (Shenzhen Stock Exchange), legal representative, and contact details Company Basic Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Sierte | | **Stock Code** | 002538 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Company Name** | Anhui Sierte Fertilizer Co., Ltd. | | **Legal Representative** | Jin Guoqing | [Key Accounting Data and Financial Indicators](index=7&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In 2019, the company's operating revenue decreased by **3.55% to 3.016 billion yuan**, and net profit attributable to shareholders decreased by **20.66% to 238 million yuan**, with non-recurring items excluded net profit falling **49.55%**, while net cash flow from operating activities grew **37.39%** and total assets increased **14.07%** Key Accounting Data and Financial Indicators | Indicator | 2019 | 2018 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (yuan)** | 3,015,931,696.40 | 3,126,808,597.13 | -3.55% | | **Net Profit Attributable to Shareholders of Listed Company (yuan)** | 238,123,176.89 | 300,137,644.18 | -20.66% | | **Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses (yuan)** | 141,189,515.49 | 279,838,078.91 | -49.55% | | **Net Cash Flow from Operating Activities (yuan)** | 287,052,349.89 | 208,925,186.52 | 37.39% | | **Basic Earnings Per Share (yuan/share)** | 0.33 | 0.42 | -21.43% | | **Total Assets (yuan)** | 5,577,034,612.46 | 4,889,125,588.44 | 14.07% | | **Net Assets Attributable to Shareholders of Listed Company (yuan)** | 3,835,133,588.77 | 3,518,652,125.75 | 8.99% | [Quarterly Key Financial Indicators](index=8&type=section&id=VIII.%20Quarterly%20Key%20Financial%20Indicators) In 2019, the company achieved its highest operating revenue of **949 million yuan** and net profit attributable to shareholders of **97.73 million yuan** in the third quarter, with operating cash flow turning positive in the second quarter and peaking at **202 million yuan** in the third quarter Quarterly Key Financial Indicators | Indicator (yuan) | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 518,047,341.40 | 887,578,115.82 | 949,029,850.81 | 661,276,388.37 | | **Net Profit Attributable to Shareholders of Listed Company** | 43,055,431.72 | 59,671,090.57 | 97,730,902.61 | 37,665,751.99 | | **Net Cash Flow from Operating Activities** | -73,004,074.29 | 63,497,337.78 | 201,698,739.71 | 94,860,346.69 | [Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) In 2019, the company's total non-recurring gains and losses amounted to **96.93 million yuan**, significantly impacting net profit, primarily from **97.62 million yuan** in non-current asset disposal gains (mainly land compensation) and **23.24 million yuan** in government subsidies, partially offset by **11.08 million yuan** in other non-operating expenses mainly due to donations Non-Recurring Gains and Losses Items and Amounts | Item | 2019 Amount (yuan) | Explanation | | :--- | :--- | :--- | | **Gains and Losses from Disposal of Non-Current Assets** | 97,621,674.31 | Primarily due to land acquisition compensation received during the reporting period | | **Government Subsidies Included in Current Profit and Loss** | 23,240,488.34 | Primarily due to amortization of deferred income and government subsidies related to daily operating activities | | **Other Non-Operating Income and Expenses** | -11,084,107.91 | Primarily due to external donations during the reporting period | | **Total** | 96,933,661.40 | - | [Company Business Overview](index=11&type=section&id=Section%203%20Company%20Business%20Overview) This chapter outlines the company's core business, industry position, and core competencies, highlighting Sierte's integrated phosphate and compound fertilizer value chain, diversified product portfolio including new fertilizers, and its significant industry standing amidst tightening environmental regulations, supported by its resource, technology, marketing, and geographical advantages [Main Business and Industry Position](index=11&type=section&id=I.%20Main%20Business%20Activities%20of%20the%20Company%20During%20the%20Reporting%20Period) The company's main business involves R&D, production, and sales of compound and specialty fertilizers, forming an integrated value chain from pyrite-based acid production to phosphate and compound fertilizers, with its monoammonium phosphate and pyrite-based acid output ranking among the top in the industry, while systemic environmental regulations ("Three Phosphates"整治) are driving industry consolidation - The company has established a complete integrated value chain from pyrite-based acid production to phosphate and compound fertilizer manufacturing and sales, leveraging its Maweishan pyrite mine in Xuancheng and Kaiyang phosphate mine in Guizhou[28](index=28&type=chunk) - The company's product portfolio comprises three main systems: soil-testing and customized fertilizers, functional fertilizers (e.g., slow/controlled-release fertilizers, water-soluble fertilizers), and new soil improvement products (e.g., bio-organic fertilizers, soil conditioners)[28](index=28&type=chunk) - 2019 marked the first year of nationwide systemic environmental remediation in the phosphorus chemical industry, with the Ministry of Ecology and Environment launching a special inspection and rectification campaign for "Three Phosphates," leading to reduced industry capacity and increased concentration[31](index=31&type=chunk) [Significant Changes in Major Assets](index=13&type=section&id=II.%20Significant%20Changes%20in%20Major%20Assets) During the reporting period, the company's major assets underwent significant changes, with cash and cash equivalents decreasing due to bond and loan repayments, long-term equity investments increasing from capital injection into Guizhou Lufa Industrial Co., Ltd., and bonds payable substantially rising due to the issuance of **800 million yuan** in convertible bonds Significant Changes in Major Assets | Major Assets/Liabilities | Explanation of Significant Change | | :--- | :--- | | **Cash and Cash Equivalents** | Decreased from the beginning of the period, mainly due to repayment of matured corporate bonds and interest, short-term bank loans, and temporary cash management of convertible bond funds | | **Long-Term Equity Investments** | Increased from the beginning of the period, mainly due to capital injection into Guizhou Lufa Industrial Co., Ltd. during the current period | | **Bonds Payable** | Increased from the beginning of the period, mainly due to the company's issuance of **800 million yuan** in convertible bonds during the current period | [Analysis of Core Competencies](index=14&type=section&id=III.%20Analysis%20of%20Core%20Competencies) The company's core competencies include a complete integrated value chain from mining to finished products, strong R&D and innovation capabilities through university collaborations, an established marketing network, superior product quality, integrated agricultural services, a strategic location in a major fertilizer sales region, and a stable talent pool - Through upstream and downstream industrial integration, the company has formed a complete integrated value chain from pyrite-based acid production to phosphate and compound fertilizer manufacturing and sales, effectively controlling costs and enhancing risk resistance[36](index=36&type=chunk) - The company is a National High-Tech Enterprise with a National Enterprise Technology Center, and has established the "China Agricultural University-Sierte Soil Testing and Formula Fertilization Research Base" in collaboration with research institutions like China Agricultural University[36](index=36&type=chunk) - The company has developed a new "test, research, formulate, produce, supply, apply" integrated agricultural service mechanism, providing customized production and comprehensive services to reach the "last mile" of agricultural support[41](index=41&type=chunk) [Management Discussion and Analysis](index=16&type=section&id=Section%204%20Management%20Discussion%20and%20Analysis) In 2019, guided by "seeking progress while maintaining stability and innovative development," the company actively integrated upstream resources, such as the Maweishan pyrite mine's operation and increased stake in Guizhou Lufa, while vigorously developing new fertilizers like bio-organic fertilizers; financially, operating revenue was **3.016 billion yuan** (down 3.55%) and net profit attributable to shareholders was **238 million yuan** (down 20.66%), with revenue decline mainly due to monoammonium phosphate and export business downturns, and convertible bond issuance secured funding for new fertilizer projects, though risks like industry competition, capacity expansion, raw material price volatility, and controlling shareholder restructuring remain [Annual Business Overview](index=16&type=section&id=I.%20Overview) In 2019, the company focused on "seeking progress while maintaining stability and innovative development" by integrating upstream resources (Maweishan pyrite mine operation, increasing stake in Guizhou Lufa to **40%**), issuing **800 million yuan** in convertible bonds for new fertilizer projects, expanding "Internet+Agriculture" initiatives, steadily advancing sales, and developing circular economy and health industries - The company's Maweishan pyrite mine in Xuancheng City, Xuancheng District, with a **380,000 tons/year** mining technical upgrade project, has entered formal production, which will effectively reduce raw material procurement costs[45](index=45&type=chunk) - The company completed an equity increase in its largest phosphate rock supplier, Guizhou Lufa, raising its stake to **40%** to secure raw material supply[46](index=46&type=chunk) - The company successfully issued **800 million yuan** in convertible corporate bonds, with proceeds allocated to constructing projects for **650,000 tons/year** of new fertilizers and **400,000 tons/year** of soil conditioners[47](index=47&type=chunk) [Analysis of Main Business](index=18&type=section&id=II.%20Analysis%20of%20Main%20Business) In 2019, the company's main business revenue was **3.016 billion yuan**, a **3.55%** year-on-year decrease, with chemical fertilizer revenue at **2.824 billion yuan**, down **6.31%**, primarily due to a **21.65%** decline in monoammonium phosphate sales, while ternary compound fertilizer revenue slightly increased by **0.66%**, and international market revenue sharply fell by **49.93%** due to intense competition, resulting in a chemical fertilizer manufacturing gross margin of **20.93%**, down **2.5 percentage points** 2019 Operating Revenue by Category | Category | 2019 Operating Revenue (yuan) | % of Total Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **By Industry** | | | | | Chemical Fertilizers | 2,824,286,176.96 | 93.65% | -6.31% | | **By Product** | | | | | Ternary Compound Fertilizers | 1,676,904,976.09 | 55.60% | 0.66% | | Monoammonium Phosphate | 957,845,917.03 | 31.76% | -21.65% | | **By Region** | | | | | Domestic Market | 2,828,260,558.71 | 93.78% | 2.77% | | International Market | 187,671,137.69 | 6.22% | -49.93% | Gross Margin by Industry/Product | Industry/Product | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Margin | Gross Margin Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | | **Chemical Fertilizers** | 2,824,286,176.96 | 2,233,162,281.75 | 20.93% | -2.50% | | **Ternary Compound Fertilizers** | 1,676,904,976.09 | 1,324,188,253.22 | 21.03% | -1.11% | | **Monoammonium Phosphate** | 957,845,917.03 | 769,816,747.35 | 19.63% | -5.78% | - Sales to the **top five customers accounted for 11.11%** of total annual sales, while purchases from the **top five suppliers accounted for 37.93%** of total annual procurement, with **8.35%** of that from related parties[68](index=68&type=chunk)[70](index=70&type=chunk) [Analysis of Non-Core Business](index=23&type=section&id=III.%20Analysis%20of%20Non-Core%20Business) In 2019, non-core business significantly impacted profit, with investment income at **-32.25 million yuan** primarily due to losses from associate Guizhou Lufa, fair value change gains of **10.52 million yuan** from wealth management products and structured deposits, and non-operating expenses reaching **11.59 million yuan**, mainly from external donations Non-Core Business Impact on Profit | Item | Amount (yuan) | % of Total Profit | Explanation of Cause | | :--- | :--- | :--- | :--- | | **Investment Income** | -32,254,507.69 | -11.00% | Primarily due to losses from associate Guizhou Lufa accounted for using the equity method | | **Gains and Losses from Fair Value Changes** | 10,521,890.41 | 3.59% | Primarily due to changes in the fair value of wealth management products and structured deposits at period-end | | **Non-Operating Expenses** | 11,588,579.32 | 3.95% | Primarily due to external donations during the current period | [Analysis of Assets and Liabilities](index=24&type=section&id=IV.%20Analysis%20of%20Assets%20and%20Liabilities) As of the end of 2019, the company's total assets were **5.577 billion yuan**, with cash and cash equivalents decreasing from **12.67% to 4.27%** of total assets due to debt repayment, long-term equity investments increasing from **8.09% to 10.07%** due to capital injection into associates, and short-term borrowings decreasing from **9.41% to 4.38%** of total liabilities Assets and Liabilities Status | Item | Amount at 2019 Year-End (yuan) | % of Total Assets | Amount at 2019 Year-Start (yuan) | % of Total Assets | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Cash and Cash Equivalents** | 238,316,099.13 | 4.27% | 619,439,446.99 | 12.67% | -8.40% | | **Long-Term Equity Investments** | 561,496,928.64 | 10.07% | 395,332,942.93 | 8.09% | 1.98% | | **Construction in Progress** | 136,042,764.27 | 2.44% | 258,876,156.68 | 5.29% | -2.85% | | **Short-Term Borrowings** | 244,500,000.00 | 4.38% | 460,000,000.00 | 9.41% | -5.03% | [Analysis of Investment Status](index=25&type=section&id=V.%20Analysis%20of%20Investment%20Status) During the reporting period, the company's investment activities significantly increased, with total investments reaching **1.43 billion yuan**, a **4668.33%** year-on-year growth, including a **200 million yuan** capital injection into associate Guizhou Lufa Industrial Co., Ltd. (increasing stake to **40%**), establishment of wholly-owned subsidiary Sierte Ecological Agriculture, and acquisition of **100%** equity in Xuancheng Huaxin Health Examination Clinic, alongside substantial investments in bank wealth management products using both raised and自有 funds - The company injected **200 million yuan** into associate Guizhou Lufa Industrial Co., Ltd., increasing its stake to **40.00%** to secure phosphate rock supply[89](index=89&type=chunk) - The company acquired **100%** equity in Xuancheng Huaxin Health Examination Clinic Co., Ltd. for **30.50 million yuan** to advance its health industry strategic layout[89](index=89&type=chunk) - In 2019, the company raised **781 million yuan** net from issuing convertible corporate bonds, primarily for projects producing **650,000 tons/year** of new fertilizers and **400,000 tons/year** of soil conditioners, with some idle proceeds used for cash management[93](index=93&type=chunk)[95](index=95&type=chunk) [Company's Future Development Outlook](index=34&type=section&id=IX.%20Outlook%20for%20the%20Company%27s%20Future%20Development) The company anticipates the compound fertilizer industry will evolve towards green, scaled, and specialized development with increased concentration, and its strategy will focus on "scale, resources, high-end, informatization, and modernization" by continuing its ecological formula fertilizer path; the 2020 operating plan includes strengthening capital operations, vigorously developing bio-organic fertilizers, establishing efficient supply chains, ensuring successful completion of fundraising projects, and improving corporate governance, while acknowledging risks such as industry development, capacity expansion, raw material price volatility, environmental policies, safety production, and controlling shareholder ownership disputes - The future compound fertilizer industry will develop towards cost reduction, efficiency improvement, quality enhancement, emission reduction, and green, scaled, specialized, and intelligent directions, with further increases in industry concentration[109](index=109&type=chunk) - The company's 2020 operating plan includes strengthening capital operations, vigorously developing bio-organic fertilizers, establishing an efficient supply chain, ensuring timely completion of fundraising projects, improving corporate governance, and strengthening the executive team[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) - The main risks faced by the company include industry development risks, market sales risks due to capacity expansion, raw material price fluctuation risks, environmental protection policy risks, safety production risks, and risks related to controlling shareholder rights restrictions and ownership disputes[117](index=117&type=chunk)[118](index=118&type=chunk)[119](index=119&type=chunk)[122](index=122&type=chunk) [Significant Events](index=38&type=section&id=Section%205%20Significant%20Events) This chapter discloses significant corporate governance and operational matters for the year, including the 2019 profit distribution plan of **0.8 yuan per 10 shares**, normal fulfillment of commitments by the company and related parties, the controlling shareholder's **25.35%** stake being fully pledged and frozen and entering restructuring, a change in accounting firm, changes in the scope of consolidation due to new and acquired subsidiaries, and related party transactions with Guizhou Lufa and the acquisition of Xuancheng Huaxin Health Examination [Profit Distribution and Capital Reserve Conversion](index=38&type=section&id=I.%20Profit%20Distribution%20of%20Ordinary%20Shares%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital) The company's 2019 profit distribution plan proposes a cash dividend of **0.8 yuan per 10 shares** (tax inclusive), with no bonus shares or capital reserve conversions, and cash dividends have been consistently paid over the past three years, with the 2019 amount representing **24.13%** of net profit attributable to shareholders Profit Distribution History | Dividend Year | Dividend per 10 Shares (yuan) (tax inclusive) | Cash Dividend Amount (yuan) | Ratio of Net Profit Attributable to Ordinary Shareholders of the Listed Company in Consolidated Financial Statements | | :--- | :--- | :--- | :--- | | **2019** | 0.8 | 57,450,110.48 | 24.13% | | **2018** | 1.0 | 71,812,028.30 | 23.93% | | **2017** | 1.5 | 107,718,042.45 | 50.58% | [Integrity Status of Controlling Shareholder and Actual Controller](index=45&type=section&id=XIV.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) During the reporting period, all shares (representing **25.35%** of total share capital) held by the company's controlling shareholder, Guogou Industrial Holdings Co., Ltd., were successively frozen and rotationally frozen by multiple courts, and on November 5, 2019, the Hefei Intermediate People's Court ruled to accept the restructuring application of Industrial Holdings and its parent company Guogou Investment Co., Ltd. and other related entities, while the actual controller's Guogou Investment Co., Ltd. also had multiple debt defaults - The controlling shareholder, Industrial Holdings, had all **182,050,800 shares** (representing **25.35%** of the total share capital) frozen by the courts[122](index=122&type=chunk)[147](index=147&type=chunk) - On November 5, 2019, the Hefei Intermediate People's Court in Anhui Province ruled to accept the restructuring application of the controlling shareholder, Industrial Holdings, and several enterprises under its actual controller[122](index=122&type=chunk)[148](index=148&type=chunk) [Significant Related Party Transactions](index=46&type=section&id=XVI.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company engaged in two types of significant related party transactions: routine operations included purchasing phosphate rock from associate Guizhou Lufa Industrial Co., Ltd. for **202 million yuan**, and asset acquisition involved wholly-owned subsidiary Xinhong Health acquiring **100%** equity in Xuancheng Huaxin Health Examination Clinic Co., Ltd. for **30.50 million yuan**, which constituted a related party transaction Significant Related Party Transactions | Related Party | Type of Related Party Transaction | Content of Related Party Transaction | Amount Incurred in Current Period (yuan) | | :--- | :--- | :--- | :--- | | **Guizhou Lufa Industrial Co., Ltd.** | Purchase of Goods | Purchase of raw materials and sale of phosphate rock | 202,159,500 | | **Xuancheng Dongchen Health Industry Management Co., Ltd. and Fang Wanpeng** | Asset Acquisition | Acquisition of 100% equity in Xuancheng Huaxin Health Examination Clinic Co., Ltd. | 30,500,000 | [Social Responsibility Performance](index=51&type=section&id=XVIII.%20Social%20Responsibility%20Performance) The company actively fulfilled its social responsibilities, donating **10 million yuan** through the Ningguo City Charity Association to disaster-stricken Ningguo City, Anhui Province, following Typhoon Lekima in August 2019, with Chairman Jin Guoqing personally contributing **1 million yuan**, and the report also details the company's environmental protection efforts as a key pollutant-discharging entity, including pollutant emission data, operation of pollution control facilities, and emergency response plans for environmental incidents - In August 2019, in response to Typhoon Lekima, the company donated **10 million yuan** in cash to Ningguo City, its location, and the chairman personally donated **1 million yuan**[167](index=167&type=chunk) - The company and its subsidiaries are listed as key pollutant-discharging entities by environmental protection authorities, and the report details the emission concentrations, total amounts, and compliance standards for major pollutants (e.g., fluoride, sulfur dioxide, COD) from each branch[170](index=170&type=chunk)[171](index=171&type=chunk)[173](index=173&type=chunk) [Share Changes and Shareholder Information](index=57&type=section&id=Section%206%20Share%20Changes%20and%20Shareholder%20Information) This chapter discloses changes in the company's share capital structure and major shareholder information, noting a slight increase in total share capital from **718,120,283 shares to 718,126,381 shares** due to convertible bond conversions, with **44,696 shareholders** at period-end, and the top two shareholders being Guogou Industrial Holdings Co., Ltd. (**25.35%**) and Anhui Ningguo Agricultural Production Materials Co., Ltd. (**11.41%**), while the controlling shareholder's entire stake is pledged and frozen [Share Change Status](index=57&type=section&id=I.%20Share%20Change%20Status) During the reporting period, the company's total share capital changed due to the conversion of "Sierte Convertible Bonds," increasing from **718,120,283 shares to 718,126,381 shares**, a net increase of **6,098 shares**, with minor adjustments between restricted and unrestricted shares due to executive shareholding changes - Due to convertible bond conversions, the company's total share capital increased from **718,120,283 shares to 718,126,381 shares**, an increase of **6,098 shares**[187](index=187&type=chunk)[188](index=188&type=chunk) [Shareholders and Actual Controller Information](index=60&type=section&id=III.%20Shareholders%20and%20Actual%20Controller%20Information) As of the end of 2019, the company had **44,696 shareholders**, with Guogou Industrial Holdings Co., Ltd. as the controlling shareholder (**25.35%** stake) and Mr. Yuan Qihong as the actual controller, while Anhui Ningguo Agricultural Production Materials Co., Ltd. was the second largest shareholder (**11.41%** stake), and all shares held by the controlling shareholder were pledged and frozen Top Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held at Period-End | Share Status | | :--- | :--- | :--- | :--- | :--- | | **Guogou Industrial Holdings Co., Ltd.** | Domestic Non-State-Owned Legal Person | 25.35% | 182,050,800 | Pledged/Frozen | | **Anhui Ningguo Agricultural Production Materials Co., Ltd.** | Domestic Non-State-Owned Legal Person | 11.41% | 81,951,500 | Pledged | | **Jin Guoqing** | Domestic Natural Person | 3.42% | 24,560,000 | - | - The controlling shareholder, Guogou Industrial Holdings Co., Ltd., had all **182,050,800 shares** held in the company pledged and frozen[195](index=195&type=chunk) [Convertible Corporate Bonds Related Information](index=66&type=section&id=Section%208%20Convertible%20Corporate%20Bonds%20Related%20Information) This chapter details the company's "Sierte Convertible Bonds" issued in 2019, noting that the conversion price was adjusted from **6.25 yuan/share to 6.15 yuan/share** due to the 2018 equity distribution, with a cumulative **6,098 shares** converted from October 14, 2019, to year-end, representing a minimal portion of the total issuance, and also listing the top ten convertible bondholders at period-end [Conversion Price Adjustment](index=66&type=section&id=I.%20Historical%20Adjustments%20to%20Conversion%20Price) Due to the company's 2018 equity distribution (a dividend of **1.00 yuan per 10 shares**), the conversion price of "Sierte Convertible Bonds" was adjusted from an initial **6.25 yuan/share to 6.15 yuan/share**, effective May 30, 2019 - Due to the implementation of the 2018 equity distribution, the conversion price of "Sierte Convertible Bonds" was adjusted from **6.25 yuan/share to 6.15 yuan/share**[209](index=209&type=chunk) [Cumulative Conversion Status](index=66&type=section&id=II.%20Cumulative%20Conversion%20Status) "Sierte Convertible Bonds" entered the conversion period on October 14, 2019, and as of December 31, 2019, a cumulative **37,600 yuan** had been converted into **6,098 company shares**, representing **0.00%** of the total shares issued before conversion began, with the unconverted amount representing nearly **100%** of the total issuance Cumulative Convertible Bond Conversion | Convertible Bond Abbreviation | Total Issued (units) | Cumulative Converted Shares (shares) | Unconverted Amount (yuan) | % of Unconverted Amount to Total Issued Amount | | :--- | :--- | :--- | :--- | :--- | | **Sierte Convertible Bonds** | 8,000,000 | 6,098 | 799,962,400.00 | 100.00% | [Directors, Supervisors, Senior Management, and Employees](index=68&type=section&id=Section%209%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This chapter discloses the basic information of the company's governance and employee structure, noting a stable board, supervisory board, and senior management team, with one independent director change due to term expiration, a total workforce of **2,978 employees**, predominantly production personnel, and a well-established compensation and training system supporting the company's development strategy [Compensation of Directors, Supervisors, and Senior Management](index=73&type=section&id=IV.%20Compensation%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) The compensation for the company's directors, supervisors, and senior management is reviewed by the Remuneration and Assessment Committee and approved by the Board of Directors or Shareholders' Meeting, with the total remuneration paid to key management personnel in 2019 amounting to **3.0532 million yuan**, including **981,100 yuan** in pre-tax remuneration for Chairman Jin Guoqing - In 2019, the total remuneration paid by the company to key management personnel (directors, supervisors, and senior executives) was **3.0532 million yuan**[233](index=233&type=chunk)[235](index=235&type=chunk) [Company Employee Information](index=75&type=section&id=V.%20Company%20Employee%20Information) As of the end of the reporting period, the company had a total of **2,978 employees**, with production personnel being the largest group at **1,627 individuals** (**54.6%** of the total), followed by technical and administrative staff, and the vast majority of employees (**2,781 individuals**) holding college degrees or lower Employee Professional Composition | Professional Composition | Number of People (persons) | | :--- | :--- | | **Production Personnel** | 1,627 | | **Sales Personnel** | 352 | | **Technical Personnel** | 516 | | **Financial Personnel** | 33 | | **Administrative Personnel** | 450 | | **Total** | **2,978** | [Corporate Governance](index=77&type=section&id=Section%2010%20Corporate%20Governance) This chapter describes the company's governance structure and operations, confirming a sound corporate governance framework compliant with regulatory requirements across shareholder meetings, board and supervisory board operations, relationship with the controlling shareholder, and information disclosure, maintaining independence in business, personnel, assets, organization, and finance, and holding one annual and two extraordinary general meetings during the reporting period [Independence of the Company from its Controlling Shareholder](index=78&type=section&id=II.%20Independence%20of%20the%20Company%20from%20its%20Controlling%20Shareholder%20in%20Business%2C%20Personnel%2C%20Assets%2C%20Organization%2C%20and%20Finance) The company maintains complete independence from its controlling shareholder in business, personnel, assets, organization, and finance, possessing independent operations and autonomous management capabilities, a sound corporate governance structure, and no instances of illegal interference by the controlling shareholder in company decisions or operations - The company is completely separate from its shareholders in terms of business, personnel, assets, organization, and finance, possessing independent business operations and the ability to autonomously develop and operate in the market, with a complete supply, production, and sales system[249](index=249&type=chunk) [Internal Control Evaluation Report](index=82&type=section&id=IX.%20Internal%20Control%20Evaluation%20Report) Based on the company's board self-assessment report and the internal control attestation report issued by Rongcheng Certified Public Accountants, the company maintained effective internal controls over financial reporting in all material respects as of December 31, 2019, with no significant or material internal control deficiencies identified during the reporting period - The internal control attestation report concluded that as of December 31, 2019, the company maintained effective internal controls over financial reporting in all material respects, in accordance with the "Basic Standards for Enterprise Internal Control" and relevant regulations[268](index=268&type=chunk) - During the reporting period, the company found no significant or material deficiencies related to financial or non-financial reporting[266](index=266&type=chunk)[267](index=267&type=chunk) [Corporate Bonds Related Information](index=85&type=section&id=Section%2011%20Corporate%20Bonds%20Related%20Information) This chapter discloses information on the company's outstanding corporate bonds, noting that "14 Sierte 01" matured and was fully repaid in October 2019, while "15 Sierte Bond" remains outstanding with a year-end balance of **608,200 yuan**, and the company maintains a good credit standing with a stable AA rating, showing significant improvements in current and quick ratios due to reduced current liabilities, though the interest coverage ratio decreased [Corporate Bond Basic Information](index=86&type=section&id=I.%20Corporate%20Bond%20Basic%20Information) During the reporting period, the company had two corporate bonds: "14 Sierte 01" matured and was repaid on October 21, 2019, while "15 Sierte Bond" is due on November 18, 2020, with a year-end balance of **608,200 yuan** and a coupon rate of **4.98%** Corporate Bond Basic Information | Bond Abbreviation | Bond Code | Maturity Date | Year-End Bond Balance (10,000 yuan) | Interest Rate | | :--- | :--- | :--- | :--- | :--- | | **14 Sierte 01** | 112230 | 2019年10月21日 | 0 | 6.50% | | **15 Sierte Bond** | 112295 | 2020年11月18日 | 60.82 | 4.98% | [Key Solvency Financial Indicators](index=87&type=section&id=VIII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Company%27s%20Last%202%20Years%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the end of 2019, the company's solvency indicators changed, with current and quick ratios significantly increasing to **290.82% and 190.56%** respectively, primarily due to reduced current liabilities, while the asset-liability ratio slightly rose to **29.28%**, EBITDA decreased by **10.32%**, and the interest coverage ratio fell from **8.83 times to 6.6 times** Key Solvency Financial Indicators | Item | 2019 | 2018 | Period-on-Period Change Rate | | :--- | :--- | :--- | :--- | | **EBITDA (10,000 yuan)** | 51,122.89 | 57,005.73 | -10.32% | | **Current Ratio** | 290.82% | 186.84% | 103.98% | | **Asset-Liability Ratio** | 29.28% | 26.65% | 2.63% | | **Quick Ratio** | 190.56% | 118.89% | 71.67% | | **Interest Coverage Ratio** | 6.6 | 8.83 | -25.25% | [Financial Report](index=89&type=section&id=Section%2012%20Financial%20Report) This chapter presents the audited 2019 financial report, for which Rongcheng Certified Public Accountants (Special General Partnership) issued a standard unqualified audit opinion, with key audit matters being revenue recognition and inventory impairment; this year, the company adopted new financial instrument standards, retrospectively adjusting the classification and measurement of financial assets, primarily reclassifying some notes receivable to financial assets held for collection, and the financial statements comprehensively detail the company's assets, liabilities, profit, cash flow, and owner's equity [Audit Report](index=89&type=section&id=I.%20Audit%20Report) Rongcheng Certified Public Accountants (Special General Partnership) audited the company's 2019 financial statements and issued a standard unqualified audit opinion, concluding that the financial statements fairly present the company's financial position and operating results in all material respects, with key audit matters being revenue recognition and inventory impairment - The auditing firm issued a standard unqualified audit opinion, stating that the financial statements fairly present the company's financial position, operating results, and cash flows for 2019[291](index=291&type=chunk) - Key audit matters for this period's financial statement audit were revenue recognition and inventory impairment[293](index=293&type=chunk)[294](index=294&type=chunk)[297](index=297&type=chunk) [Changes in Consolidation Scope](index=117&type=section&id=III.%20Company%20Basic%20Information) During the reporting period, the company's scope of consolidation changed, adding two subsidiaries: Xuancheng Huaxin Health Examination Clinic Co., Ltd. through a business combination not under common control, and the newly established Anhui Sierte Ecological Agriculture Technology Co., Ltd., while one subsidiary, Anhui Xinhong Health Management Co., Ltd., was deregistered - During the reporting period, the company added a new subsidiary, Xuancheng Huaxin Health Examination Clinic Co., Ltd., through a business combination not under common control[350](index=350&type=chunk) - During the reporting period, the company established a new wholly-owned subsidiary, Anhui Sierte Ecological Agriculture Technology Co., Ltd.[350](index=350&type=chunk) - During the reporting period, the company deregistered its wholly-owned subsidiary, Anhui Xinhong Health Management Co., Ltd.[350](index=350&type=chunk) [Changes in Significant Accounting Policies and Estimates](index=118&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) In 2019, the company adopted new financial instrument standards issued by the Ministry of Finance, adjusting the recognition, classification, and measurement of financial instruments, primarily reclassifying eligible bank acceptance bills from "Notes Receivable" to the new "Receivables Financing" item, measured at fair value, using retrospective adjustment without restating comparative financial statement data - The company adopted new financial instrument standards effective January 1, 2019, retrospectively adjusting the classification and measurement (including impairment) of financial instruments[554](index=554&type=chunk)[555](index=555&type=chunk) - The change in accounting policy resulted in the split of "Notes and Accounts Receivable" on the balance sheet into "Notes Receivable," "Accounts Receivable," and the new "Receivables Financing" item[553](index=553&type=chunk) - At the beginning of the year, **68.74 million yuan** of notes receivable in the consolidated financial statements were reclassified to receivables financing[558](index=558&type=chunk)

Financial Performance - Net profit attributable to shareholders was ¥97,730,902.61, representing a growth of 16.41% year-on-year[6]. - Operating income for the reporting period was ¥949,029,850.81, a decrease of 2.21% compared to the same period last year[6]. - The company reported a decrease of 83.37% in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to ¥13,850,324.24[6]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 41.00% to RMB 102,627,203.19, primarily due to a decline in overall gross margin[17]. - Net profit for the current period is CNY 99,137,821.28, compared to CNY 86,461,244.54 in the previous period, reflecting a growth of approximately 14.5%[43]. - Net profit for the period was CNY 208,625,594.21, representing a 10.5% increase from CNY 189,229,896.00 in the previous period[51]. - The net profit for the third quarter of 2019 was CNY 176,749,980.83, an increase from CNY 158,290,357.01 in the same period last year, representing an increase of approximately 11.0%[56]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,666,714,832.61, an increase of 15.90% compared to the end of the previous year[6]. - Total liabilities increased to CNY 1,792,304,459.81 from CNY 1,302,750,041.26, reflecting a growth of approximately 37.6%[34]. - The company's total liabilities included bonds payable of RMB 651,341,908.78, reflecting a significant increase due to the issuance of convertible bonds[17]. - The company's equity attributable to shareholders rose to CNY 3,799,968,782.06 from CNY 3,518,652,125.75, an increase of about 8.0%[35]. - The company's total equity increased to CNY 3,723,143,442.86 from CNY 3,466,984,230.62, indicating a solid financial position[43]. Cash Flow - The net cash flow from operating activities was ¥201,698,739.71, a significant increase of 1,891.21% year-on-year[6]. - The net cash flow from operating activities improved by 209.66% to RMB 192,192,003.20, attributed to increased cash settlements from sales[17]. - Cash inflow from operating activities reached CNY 2,109,439,638.57, compared to CNY 1,611,882,308.68 in the previous year, marking an increase of approximately 30.8%[58]. - The net cash flow from operating activities was CNY 192,192,003.20, a significant recovery from a net outflow of CNY -175,260,461.32 in the same period last year[60]. - The net cash flow from financing activities was 447,277,380.68 CNY, a decrease from 541,898,650.59 CNY in the previous year[64]. Investments and Expenses - The company's research and development expenses rose by 56.05% to RMB 73,332,394.58, mainly due to investments in compound fertilizers and organic fertilizers[17]. - Research and development expenses rose to CNY 30,325,956.31 from CNY 19,578,039.40, highlighting a focus on innovation[42]. - The financial expenses increased to CNY 16,485,797.02 from CNY 9,714,433.31, primarily due to higher interest expenses[42]. - Investment losses amounted to CNY -8,242,359.37, a decline from a profit of CNY 1,619,398.79 in the previous period, highlighting challenges in investment performance[49]. Shareholder Information - The total number of shareholders at the end of the reporting period was 44,126[11]. - The largest shareholder, Guogou Industrial Holdings, held 25.35% of the shares, with 182,050,800 shares pledged[11]. Other Notable Events - The company has successfully restored production at the Meilin plant after flood damage, indicating effective disaster recovery efforts[20]. - The company issued convertible bonds totaling RMB 800 million to fund the construction of a new fertilizer production project with an annual capacity of 650,000 tons[19].

安徽省司尔特肥业股份有限公司 2019 年半年度报告全文 安徽省司尔特肥业股份有限公司 ANHUI SIERTE FERTILIZER INDUSTRY LTD.,COMPANY 安徽省宁国经济技术开发区 ANHUI NINGGUO ECONOMIC & TECH DEVELOPMENT ZONE 安徽省司尔特肥业股份有限公司 2019 年半年度报告 股票简称：司尔特 股票代码：002538 披露时间：2019 年 8 月 22 日 1 安徽省司尔特肥业股份有限公司 2019 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。 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述，不代表公司盈利预测，不构成公 司对投资者的实质承诺，投资者及相关人士均应对此保持足够的风险认识，并且应当理解计 划、预 ...

安徽省司尔特肥业股份有限公司 2018 年年度报告全文 安徽省司尔特肥业股份有限公司 ANHUI SIERTE FERTILIZER INDUSTRY LTD.,COMPANY 安徽省宁国经济技术开发区 ANHUI NINGGUO ECONOMIC & TECH DEVELOPMENT ZONE 安徽省司尔特肥业股份有限公司 2018 年年度报告 股票简称：司尔特 股票代码：002538 披露时间：2019 年 4 月 26 日 1 安徽省司尔特肥业股份有限公司 2018 年年度报告全文 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。 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述，不代表公司盈利预测，不构成公 司对投资者的实质承诺，投资者及相关人士均应对此保持足够的风险认识，并且应当理解计 划、预测与承诺之间 ...

安徽省司尔特肥业股份有限公司 2019 年第一季度报告全文 安徽省司尔特肥业股份有限公司 2019 年第一季度报告 股票简称：司尔特 股票代码：002538 披露时间：2019 年 4 月 30 日 1 安徽省司尔特肥业股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证季度报告中财务报表的真实、准确、完整。 2 安徽省司尔特肥业股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 518,047,341.40 | 480,464,675.37 | 7.82% | | 归属于上市公司股 ...

安徽省司尔特肥业股份有限公司 2018 年年度报告全文 安徽省司尔特肥业股份有限公司 ANHUI SIERTE FERTILIZER INDUSTRY LTD.,COMPANY 安徽省宁国经济技术开发区 ANHUI NINGGUO ECONOMIC & TECH DEVELOPMENT ZONE 安徽省司尔特肥业股份有限公司 2018 年年度报告 股票简称：司尔特 股票代码：002538 披露时间：2019 年 4 月 26 日 1 安徽省司尔特肥业股份有限公司 2018 年年度报告全文 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。 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述，不代表公司盈利预测，不构成公 司对投资者的实质承诺，投资者及相关人士均应对此保持足够的风险认识，并且应当理解计 划、预测与承诺之间 ...

安徽省司尔特肥业股份有限公司 2018 年第三季度报告正文 证券代码：002538 证券简称：司尔特 公告编号：2018-63 安徽省司尔特肥业股份有限公司 2018 年第三季度报告正文 股票简称：司尔特 股票代码：002538 披露时间：2018 年 10 月 27 日 1 安徽省司尔特肥业股份有限公司 2018 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证季度报告中财务报表的真实、准确、完整。 2 安徽省司尔特肥业股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides essential disclaimers, outlines the report structure, and defines key terms used throughout the document [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board of directors, supervisory board, and all senior executives guarantee the truthfulness, accuracy, and completeness of this semi-annual report, free from false statements, misleading representations, or material omissions - The company's board of directors and senior executives guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility[4](index=4&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from provident funds[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) The report comprises eleven chapters, including company profile, business overview, operational discussion, significant events, and financial reports [Definitions](index=4&type=section&id=%E9%87%8A%E4%B9%89) This chapter defines professional terms used in the report, covering fertilizer types (e.g., slow-release, compound fertilizers), chemical products (e.g., MAP), business models (e.g., soil testing and customized fertilization), and company-related entities (e.g., industrial holding, Bozhou subsidiary) [Company Profile and Key Financial Indicators](index=5&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section introduces the company and presents its key financial performance and position for the reporting period [Company Profile](index=5&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Anhui Sierte Fertilizer Co., Ltd. (stock code: 002538) is a company listed on the Shenzhen Stock Exchange, with Jin Guoqing as its legal representative [Key Accounting Data and Financial Indicators](index=6&type=section&id=%E5%9B%9B%E3%80%81%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%8C%87%E6%A0%87) In the first half of 2018, the company achieved operating revenue of **1.22 billion Yuan**, a **20.35% increase** year-on-year, and net profit attributable to shareholders of **102.17 million Yuan**, up **12.41%** Key Financial Indicators for H1 2018 | Indicator | Current Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 1,221,494,099.73 | 1,014,914,923.36 | 20.35% | | Net Profit Attributable to Shareholders (Yuan) | 102,165,086.27 | 90,883,327.25 | 12.41% | | Net Profit Attributable to Shareholders After Non-recurring Items (Yuan) | 90,663,263.83 | 43,069,347.12 | 110.51% | | Net Cash Flow from Operating Activities (Yuan) | -163,999,971.04 | -231,218,644.59 | 29.07% | | Basic Earnings Per Share (Yuan/share) | 0.14 | 0.13 | 7.69% | | Total Assets (Yuan) | 4,989,126,416.43 | 4,491,714,464.86 | 11.07% | - During the reporting period, the company's total non-recurring gains and losses amounted to **11.50 million Yuan**, primarily from government subsidies, capital occupation fees from non-financial enterprises, and investment income[20](index=20&type=chunk) [Company Business Overview](index=8&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E5%85%AC%E5%8F%B8%E4%B8%9A%E5%8A%A1%E6%A6%82%E8%A6%81) This section details the company's primary operations, significant asset changes, and core competitive advantages [Primary Business](index=8&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's main business involves the R&D, production, and sales of compound and specialty fertilizers, forming an integrated industrial chain from pyrite and phosphate rock mining to phosphate compound fertilizer production and sales - The company's core business is compound fertilizers, building an integrated industrial chain from raw materials to finished products, relying on its own pyrite and phosphate rock resources[23](index=23&type=chunk) - The company adopts a 'production based on sales' strategy and utilizes data from the 'China Agricultural University - Sierte Soil Testing and Customized Fertilization Research Base' to support product structure adjustments[24](index=24&type=chunk)[25](index=25&type=chunk) - The company established a wholly-owned subsidiary, Anhui Xinhong Health Industry Management Co., Ltd., to actively expand into the medical and health industry, seeking dual-main business development[27](index=27&type=chunk) [Significant Changes in Major Assets](index=9&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%BB%E8%A6%81%E8%B5%84%E4%BA%A7%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8C%96%E6%83%85%E5%86%B5) During the reporting period, there were no significant changes in the company's major assets; the increase in accounts receivable was primarily due to increased shipments within credit terms [Analysis of Core Competitiveness](index=9&type=section&id=%E4%B8%89%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness is multifaceted, including 67 patented technologies (inventions, utility models, and designs), multiple licensed operating rights for compound fertilizer, sulfuric acid, hazardous chemicals production, and phosphate mining, and extensive land use rights for industrial and commercial services - The company holds **67 patents**, including several invention patents such as compound fertilizer anti-caking agents and high-nitrogen sulfur-based compound fertilizer production methods[29](index=29&type=chunk)[30](index=30&type=chunk)[31](index=31&type=chunk) - The company holds key production and safety licenses, including compound fertilizer production permits, safety production permits, and phosphate mining licenses[32](index=32&type=chunk)[33](index=33&type=chunk) - The company was awarded the 'Anhui Provincial Government Quality Award,' the highest quality award established by the Anhui Provincial Government, and recognized as a National Enterprise Technology Center, reflecting its technological and quality advantages[35](index=35&type=chunk)[36](index=36&type=chunk) [Discussion and Analysis of Operations](index=14&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides an overview of the company's operational progress, analyzes its main and non-main business performance, asset and liability status, investment activities, future outlook, and risk management strategies [Overview](index=14&type=section&id=%E4%B8%80%E3%80%81%E6%A6%82%E8%BF%B0) In the first half of 2018, the company systematically advanced its work under the theme of 'seeking progress while maintaining stability and achieving leapfrog development,' focusing on the completion and commissioning of the first phase of the Xuanzhou 300,000-ton new compound fertilizer project, collaboration with Nanjing Agricultural University to develop bio-organic fertilizers, deepening 'Internet+Agriculture' initiatives with dual-integration management system certification, innovating sales models through e-commerce platforms, and actively promoting medical and health industry development via its subsidiary Xinhong Health - The first phase of Xuanzhou Branch's **300,000-ton** new compound fertilizer project is largely complete, expected to enhance resource utilization efficiency and company profitability[39](index=39&type=chunk) - The company plans to publicly issue convertible bonds to raise funds for a **650,000-ton** new fertilizer and **400,000-ton** soil conditioner project, vigorously developing new fertilizers like bio-organic fertilizers[40](index=40&type=chunk) - The company obtained the 'Integration of Informatization and Industrialization Management System Assessment Certificate,' demonstrating its competitiveness in integrating informatization and industrialization, particularly in building precise customized fertilizer service capabilities[42](index=42&type=chunk) - By establishing its subsidiary Xinhong Health, the company is actively promoting the development of the medical and health industry, seeking a new dual-driven situation with compound fertilizers and health industries[44](index=44&type=chunk) [Main Business Analysis](index=16&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, the company's operating revenue increased by **20.35%** year-on-year, primarily driven by the steady growth of its chemical fertilizer business Year-on-Year Changes in Key Financial Data | Item | Current Period (Yuan) | Prior Year Period (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,221,494,099.73 | 1,014,914,923.36 | 20.35% | | Operating Cost | 943,745,225.36 | 793,979,913.62 | 18.86% | | Net Cash Flow from Investing Activities | -152,196,253.54 | 239,981,165.28 | -163.42% | Operating Revenue by Product | Product | Operating Revenue (Yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Ternary Compound Fertilizer | 636,435,035.17 | 52.10% | 11.87% | | Monoammonium Phosphate | 504,166,358.32 | 41.27% | 28.29% | Gross Margin Changes of Main Products | Product | Gross Margin | Gross Margin Change from Prior Year | | :--- | :--- | :--- | | Ternary Compound Fertilizer | 22.44% | 2.72% | | Monoammonium Phosphate | 23.47% | 3.08% | [Non-Main Business Analysis](index=18&type=section&id=%E4%B8%89%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, non-main business activities had a minor impact on total profit, with investment income primarily from wealth management product interest and asset impairment mainly from bad debt losses Non-Main Business Profit and Loss | Item | Amount (Yuan) | Proportion of Total Profit | Reason for Formation | | :--- | :--- | :--- | :--- | | Investment Income | 1,259,722.10 | 1.02% | Interest from wealth management products | | Asset Impairment | -2,757,343.64 | -2.23% | Bad debt losses | [Analysis of Assets and Liabilities](index=18&type=section&id=%E5%9B%9B%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) As of the end of the reporting period, the company's total assets increased by **11.07%** from the beginning of the period; monetary funds increased due to a reduction in wealth management products, and fixed assets increased due to the capitalization of fundraising projects - Monetary funds as a proportion of total assets increased from **4.76%** to **12.21%**, primarily due to a decrease in purchased wealth management products[60](index=60&type=chunk) - Fixed assets as a proportion of total assets increased from **23.31%** to **26.70%**, primarily due to the capitalization of fundraising projects into fixed assets[60](index=60&type=chunk) - Short-term borrowings increased from **0 Yuan** at the beginning of the period to **460 million Yuan**, mainly due to an increase in bank credit borrowings[60](index=60&type=chunk) [Analysis of Investment Status](index=19&type=section&id=%E4%BA%94%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's investment activities primarily revolved around the use of raised funds, with **98.11 million Yuan** invested during the reporting period, totaling **749.87 million Yuan** cumulatively - During the reporting period, the company cumulatively invested **750 million Yuan** in raised funds, accounting for **72.98%** of the total raised funds (**749.87 million Yuan** / **1.028 billion Yuan**)[66](index=66&type=chunk)[69](index=69&type=chunk) - The Bozhou **900,000-ton** new compound fertilizer project did not meet expected returns due to market development falling short of expectations[69](index=69&type=chunk) - The company changed the use of **400 million Yuan** in raised funds, reallocating them from the Bozhou project to the Xuanzhou 'annual **900,000-ton** new compound fertilizer and annual **250,000-ton** pyrite-based sulfuric acid project'[66](index=66&type=chunk)[71](index=71&type=chunk) [2018 Q1-Q3 Operating Performance Forecast](index=23&type=section&id=%E4%B9%9D%E3%80%81%E5%AF%B9%202018%20%E5%B9%B4%201-9%20%E6%9C%88%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E7%9A%84%E9%A2%84%E8%AE%A1) The company forecasts a **0% to 50%** year-on-year increase in net profit attributable to shareholders for January-September 2018, with a range of **131.24 million Yuan** to **196.86 million Yuan** 2018 Q1-Q3 Performance Forecast | Item | Forecast Data | | :--- | :--- | | Net Profit Attributable to Shareholders Change Range | 0.00% to 50.00% | | Net Profit Attributable to Shareholders Range (Ten Thousand Yuan) | 13,124.17 to 19,686.26 | | Net Profit Attributable to Shareholders in Prior Period 2017 (Ten Thousand Yuan) | 13,124.17 | [Risks and Countermeasures](index=24&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces key risks such as intensified industry competition, market sales pressure from new capacity, raw material price fluctuations, tightening environmental policies, and production safety risks, which it addresses by extending the industrial chain, strengthening marketing capabilities, increasing environmental protection investments, and strict production management - Key risks include industry development risk, market sales risk due to capacity expansion, raw material price fluctuation risk, environmental protection policy risk, and production safety risk[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk) [Significant Events](index=26&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details major related party transactions and the company's environmental social responsibility performance [Significant Related Party Transactions](index=30&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company's primary ordinary related party transaction involved purchasing raw materials from its associate, Guizhou Lufa Industrial Co., Ltd., totaling **81.18 million Yuan**, which was within the annual approved limit - The company purchased raw materials from its associate, Guizhou Lufa, with **81.18 million Yuan** transacted in H1 2018, remaining within the annual approved limit of **328 million Yuan**[98](index=98&type=chunk)[99](index=99&type=chunk) - The company's subsidiary, Xinhong Health, took over **100%** equity of Dongchen Health Company and provided a total of **110 million Yuan** in working capital support[103](index=103&type=chunk)[104](index=104&type=chunk)[105](index=105&type=chunk) [Social Responsibility](index=33&type=section&id=%E5%8D%81%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company and its subsidiaries are listed as key pollutant-discharging units by environmental protection authorities - The company and its subsidiaries (Anhui Sierte, Xuanzhou Branch, Bozhou Sierte) are all key pollutant-discharging units, with main pollutants being sulfur dioxide and COD, and all emissions were within limits during the reporting period[112](index=112&type=chunk)[113](index=113&type=chunk) - The company actively undertakes technical upgrades of environmental facilities, including 'de-whitening' and demisting of sulfuric acid plant tail gas, upgrading wastewater treatment plants, and constructing dilute acid recycling facilities, to reduce pollutant emissions[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk) [Share Changes and Shareholder Information](index=37&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section outlines changes in the company's share capital and provides details on its shareholders [Share Change Status](index=37&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital of **718,120,283 shares** remained unchanged, with a minor shift between restricted and unrestricted shares due to Director Li Gang's acquisition of **184,100 shares** [Shareholder Numbers and Shareholding Status](index=38&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **41,759** common shareholders Top Two Shareholders' Shareholding Status | Shareholder Name | Shareholding Proportion | Number of Common Shares Held | Pledged or Frozen Status | | :--- | :--- | :--- | :--- | | Guogou Industrial Holding Co., Ltd. | 25.35% | 182,050,800 | Pledged 179,530,000 | | Anhui Ningguo Agricultural Production Materials Co., Ltd. | 11.41% | 81,951,500 | Pledged 10,000,000 | [Preferred Share Information](index=41&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of preferred shares during the reporting period [Preferred Shares](index=41&type=section&id=%E4%BC%98%E5%85%88%E8%82%A1) During the reporting period, the company had no preferred shares [Directors, Supervisors, and Senior Management Information](index=42&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) This section details changes in shareholdings and personnel within the company's board, supervisory board, and senior management [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=42&type=section&id=%E4%B8%80%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) During the reporting period, Director Li Gang increased his shareholding by **184,100 shares**, bringing his total holdings to **299,800 shares** at period-end, while other directors, supervisors, and senior management had no changes in their shareholdings [Changes in Directors, Supervisors, and Senior Management Personnel](index=43&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company experienced several changes in senior management personnel: Vice General Manager Li Shiduo passed away due to illness, Vice General Manager Yu Shaobin retired, and Vice General Manager and Board Secretary Wu Yong resigned [Corporate Bond Information](index=44&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%85%AC%E5%8F%B8%E5%80%BA%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section provides an overview of the company's outstanding corporate bonds, including their basic information, credit ratings, and key financial indicators related to bond repayment [Basic Information on Corporate Bonds](index=44&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E5%9F%BA%E6%9C%AC%E4%BF%A1%E6%81%AF) As of the end of the reporting period, the company had two publicly issued and unexpired corporate bonds, '14 Sierte 01' and '15 Sierte Bond,' with a total outstanding balance of **503.3 million Yuan** Corporate Bond Overview | Bond Abbreviation | Bond Code | Maturity Date | Bond Balance (Ten Thousand Yuan) | Interest Rate | | :--- | :--- | :--- | :--- | :--- | | 14 Sierte 01 | 112230 | 2019-10-21 | 20,330 | 6.50% | | 15 Sierte Bond | 112295 | 2020-11-18 | 30,000 | 4.98% | - Pengyuan Credit Rating Co., Ltd. maintained the company's long-term corporate credit rating at **AA** with a stable outlook[149](index=149&type=chunk) - Due to increased current liabilities, the company's current ratio decreased from **371.75%** at the end of the previous year to **221.33%**, and its quick ratio decreased from **288.22%** to **151.08%**[154](index=154&type=chunk)[155](index=155&type=chunk) [Financial Report](index=48&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, along with detailed notes and supplementary information [Audit Report](index=48&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's 2018 semi-annual financial report is unaudited [Financial Statements](index=48&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity as of June 30, 2018 [Consolidated Balance Sheet](index=48&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) [Parent Company Balance Sheet](index=51&type=section&id=2%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) [Consolidated Income Statement](index=53&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) [Parent Company Income Statement](index=56&type=section&id=4%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) [Consolidated Cash Flow Statement](index=57&type=section&id=5%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) [Parent Company Cash Flow Statement](index=59&type=section&id=6%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) [Consolidated Statement of Changes in Owners' Equity](index=61&type=section&id=7%E3%80%81%E5%90%88%E5%B9%B6%E6%89%80%E6%9C%89%E8%80%85%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) [Parent Company Statement of Changes in Owners' Equity](index=64&type=section&id=8%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E6%89%80%E6%9C%89%E8%80%85%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) [Notes to Consolidated Financial Statement Items](index=95&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed explanations for key items in the consolidated financial statements, including **134.9 million Yuan** in endorsed or discounted but unexpired notes receivable at period-end, a significant increase in accounts receivable from the beginning of the period, construction in progress primarily for the Maweishan pyrite and phosphate mine technical upgrade and expansion projects, and the controlling shareholder, Guogou Industrial Holding Co., Ltd., pledging **25%** of its company shares - At period-end, the amount of bank acceptance bills endorsed or discounted but not yet due on the balance sheet date was **134.9 million Yuan**[346](index=346&type=chunk) - The book balance of accounts receivable significantly increased from **53.64 million Yuan** at the beginning of the period to **124.89 million Yuan** at period-end[347](index=347&type=chunk) - The balance of construction in progress at period-end was **293 million Yuan**, with the largest project being the Maweishan pyrite project, totaling **183 million Yuan**[383](index=383&type=chunk) - The controlling shareholder, Guogou Industrial Holding Co., Ltd., pledged **25%** of its company shares to provide guarantees for related party debt restructuring[435](index=435&type=chunk) [Supplementary Information](index=135&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E8%A1%A5%E5%85%85%E8%B5%84%E6%96%99) This section provides supplementary financial information, including details of non-recurring gains and losses and return on net assets Details of Non-recurring Gains and Losses for the Current Period | Item | Amount (Yuan) | | :--- | :--- | | Government Subsidies Included in Current Profit and Loss | 9,131,063.51 | | Capital Occupation Fees from Non-financial Enterprises Included in Current Profit and Loss | 2,488,692.17 | | Investment Income from Disposal of Available-for-Sale Financial Assets, etc. | 1,385,267.51 | | Other Non-operating Income and Expenses | 732,520.68 | | Less: Income Tax and Minority Interest Impact | 2,235,721.43 | | **Total** | **11,501,822.44** | Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets | Basic Earnings Per Share (Yuan/share) | | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders | 3.04% | 0.14 | | Net Profit Attributable to Common Shareholders After Deducting Non-recurring Gains and Losses | 2.70% | 0.13 | [Reference Documents Catalog](index=137&type=section&id=%E7%AC%AC%E5%8D%81%E4%B8%80%E8%8A%82%20%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) This section lists all documents available for inspection, including the signed semi-annual report, financial statements, and other publicly disclosed materials [Reference Documents](index=137&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6) This chapter lists documents available for inspection, including the semi-annual report and accounting statements bearing the signatures of the chairman and senior executives, originals of all publicly disclosed documents during the reporting period, and other relevant materials, all kept at the company's Securities Department

安徽省司尔特肥业股份有限公司 2017 年年度报告全文 安徽省司尔特肥业股份有限公司 ANHUI SIERTE FERTILIZER INDUSTRY LTD.,COMPANY 安徽省宁国经济技术开发区 ANHUI NINGGUO ECONOMIC & TECH DEVELOPMENT ZONE 安徽省司尔特肥业股份有限公司 2017 年年度报告 股票简称：司尔特 股票代码：002538 披露时间：2018 年 4 月 25 日 1 安徽省司尔特肥业股份有限公司 2017 年年度报告全文 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。 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述，不代表公司盈利预测，不构成公 司对投资者的实质承诺，投资者及相关人士均应对此保持足够的风险认识，并且应当理解计 划、预测与承诺之间 ...

第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 安徽省司尔特肥业股份有限公司 2018 年第一季度报告全文 安徽省司尔特肥业股份有限公司 2018 年第一季度报告 股票简称：司尔特 股票代码：002538 披露时间：2018 年 4 月 28 日 1 安徽省司尔特肥业股份有限公司 2018 年第一季度报告全文 公司负责人金国清、主管会计工作负责人方君及会计机构负责人(会计主管人员)方君声 明：保证季度报告中财务报表的真实、准确、完整。 2 安徽省司尔特肥业股份有限公司 2018 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 480,464,675.37 | 487,431,081.94 | -1.43% | | 归属于上市公司 ...