Financial Performance - The company's revenue for Q3 2021 reached ¥1,544,950,805.99, representing a 74.93% increase compared to the same period last year[6]. - Net profit attributable to shareholders was ¥274,087,666.21, up 55.43% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥222,762,675.23, reflecting a 63.39% increase compared to the previous year[6]. - Total revenue for the third quarter of 2021 reached ¥4,019,340,205.23, a significant increase of 48.1% compared to ¥2,712,177,274.26 in the same period of 2020[33]. - The net profit for the third quarter was 712,945,580.69 CNY, an increase from 532,754,776.64 CNY in the previous year, representing a growth of approximately 33.8%[36]. - The total profit was 854,375,253.31 CNY, up from 629,931,614.13 CNY, marking an increase of around 35.6%[36]. - The basic earnings per share (EPS) increased to 1.27 CNY from 0.95 CNY, reflecting a growth of approximately 33.7%[39]. - The total comprehensive income attributable to the parent company was 713,345,466.89 CNY, compared to 532,658,625.87 CNY in the previous year, reflecting an increase of approximately 33.9%[39]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥8,175,302,910.66, a 16.82% increase from the end of the previous year[6]. - The company's total assets as of September 30, 2021, amounted to ¥8,175,302,910.66, an increase of 17% from ¥6,998,152,136.98 at the end of 2020[32]. - Current assets totaled ¥4,955,282,394.52, reflecting a growth of 20.8% from ¥4,102,412,178.43 year-over-year[28]. - Non-current assets increased to ¥3,220,020,516.14, up 11.2% from ¥2,895,739,958.55 in the previous year[29]. - The company's total liabilities reached ¥2,828,900,386.99, an increase of 37.8% compared to ¥2,051,151,637.26 in 2020[32]. - The company's equity attributable to shareholders reached ¥4,945,909,384.69, with total equity standing at ¥4,947,000,499.72[54]. Cash Flow and Investment - The company's cash flow from operating activities for the year-to-date was ¥571,911,048.97, showing a 9.52% increase[6]. - Cash flow from operating activities generated a net amount of 571,911,048.97 CNY, compared to 522,212,155.82 CNY in the previous year, showing a slight increase of about 9.4%[43]. - The company experienced a significant increase in investment cash inflow, totaling 1,852,160,149.74 CNY, compared to 757,115,693.94 CNY in the previous year, which is an increase of approximately 144.5%[43]. - The company reported a significant increase in investment income, which rose by 451.45% to ¥63,936,213.92, driven by gains from financial assets[12]. - The company reported a significant increase in investment income, totaling 63,936,213.92 CNY, compared to 11,594,206.35 CNY in the previous year, which is an increase of about 450.5%[36]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 32,910, with the largest shareholder, Anhui Jinrui Investment Group Co., Ltd., holding 44.66% of shares, totaling 250,487,223 shares[13]. - The top ten shareholders include various institutional investors, with the second-largest shareholder holding 2.53% of shares[13]. - The company has not disclosed any related party transactions among the top ten shareholders[16]. - The company has not reported any financing or securities lending activities among the top ten shareholders[17]. Research and Development - Research and development expenses increased by 40.10% to ¥146,536,333.46, indicating a focus on innovation[12]. - Research and development expenses for the third quarter were ¥146,536,333.46, up 40.2% from ¥104,591,705.29 in the same period last year[33]. Corporate Actions - The company has repurchased a total of 2,207,300 shares, accounting for 0.39% of the total shares, with a total transaction amount of RMB 67,815,775.40[18]. - The maximum repurchase price for shares is set at RMB 45.00 per share, with a total repurchase fund between RMB 50 million and RMB 100 million[18]. - The company has completed a share transfer and related registration for Beijing Jinhe Yikang Biotechnology Co., Ltd., increasing its ownership from 40% to 55%[21]. - The company has transferred 60% of the shares of its wholly-owned subsidiary, Nanjing Jinhe Yikang Biotechnology Co., Ltd., to its actual controller, Yang Le, and will not exercise its preemptive rights for this capital increase[22]. - The company has increased its capital in three subsidiaries: Jin Hong New Energy Technology Co., Ltd. by RMB 75 million, Chuzhou Jinwo Biotechnology Co., Ltd. by RMB 100 million, and Anhui Jinxuan Technology Co., Ltd. by RMB 150 million[22]. Financial Management - The company’s cash and cash equivalents increased to ¥2,010,654,327.71, up 76.7% from ¥1,138,980,405.07 in the previous year[28]. - The cash and cash equivalents at the end of the period amounted to 844,666,135.93 CNY, up from 535,284,429.31 CNY, representing a growth of about 57.7%[45]. - The company incurred financial expenses of 17,263,760.21 CNY, a decrease from 9,568,552.80 CNY in the previous year, indicating a reduction in financial costs[36]. - The company experienced a 137.75% increase in contract liabilities, indicating a rise in customer prepayments[9]. - The company’s total liabilities decreased by 39.32% in short-term borrowings, reflecting improved financial management[9].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,474,389,399.24, representing a 35.29% increase compared to ¥1,829,001,831.25 in the same period last year[29]. - The net profit attributable to shareholders of the listed company was ¥439,316,436.14, up 23.14% from ¥356,748,253.71 year-on-year[29]. - The net profit after deducting non-recurring gains and losses was ¥368,620,122.93, reflecting a 19.75% increase from ¥307,820,851.95 in the previous year[29]. - The basic earnings per share increased to ¥0.78, a rise of 21.88% from ¥0.64 in the same period last year[29]. - The diluted earnings per share rose to ¥0.77, an increase of 22.22% from ¥0.63 year-on-year[29]. - The total assets at the end of the reporting period were ¥7,754,258,008.82, which is a 10.80% increase from ¥6,998,152,136.98 at the end of the previous year[29]. - The net assets attributable to shareholders of the listed company were ¥5,132,236,050.59, up 3.77% from ¥4,945,909,384.69 at the end of the previous year[29]. - The net cash flow from operating activities was ¥279,162,464.39, down 31.66% from ¥408,475,670.95 in the same period last year[29]. - The weighted average return on net assets was 8.72%, compared to 7.91% in the previous year, showing an improvement of 0.81%[29]. Revenue Breakdown - The food additives segment accounted for 48.45% of total revenue, amounting to ¥1,198,829,424.80, while the bulk chemicals segment contributed 37.62% with ¥930,776,011.58[59]. - The basic chemical segment's revenue grew by 56.27% to ¥1,047,112,957.95, indicating strong performance in this area[59]. - Domestic sales accounted for 70.61% of total revenue, amounting to ¥1.75 billion, a 45.76% increase year-over-year[62]. - Trade business revenue increased by 143.44% year-over-year, totaling ¥70.78 million, primarily due to recovery from pandemic impacts[62]. - Functional chemical products and intermediates revenue reached ¥116.34 million, a 4.70% increase year-over-year[62]. - Pharmaceutical intermediates revenue surged to ¥51.94 million, reflecting a 721.93% increase compared to the previous year[62]. Investment and Development - The company is actively increasing investment in technology research and development, focusing on food additives, flavoring agents, high-performance materials, and biodegradable materials[47]. - Research and development expenses increased by 28.23% to ¥89,653,308.52, reflecting the company's commitment to innovation and technology advancement[58]. - The company completed the construction of a 5,000-ton annual production project for sucralose, with a capacity load reaching 80% by the end of the reporting period[46]. - The company has obtained environmental assessment approval for a 5,000-ton annual production project of ethyl maltol, which is currently under construction[46]. - The company is investing in a project to produce 5,000 tons of ethyl maltol annually, with construction ongoing[170]. Environmental and Safety Management - The company is committed to reducing carbon emissions and has established a carbon emission management leadership group to build a carbon emission management system[48]. - The company is enhancing safety and environmental management by implementing safety production laws and conducting safety hazard inspections[47]. - The company has established several management systems for continuous automatic monitoring of flue gas emissions, ensuring accurate and scientific monitoring data[120]. - The company has implemented a self-monitoring plan for environmental compliance, with monthly reports submitted to the environmental protection department[119]. - The company has established an emergency response plan for environmental incidents, which has been revised and filed with the relevant authorities[118]. Shareholder and Equity Information - The company plans to repurchase shares using between RMB 50 million and RMB 100 million, with a maximum repurchase price of RMB 45.00 per share[169]. - The company implemented a profit distribution plan for 2020, distributing RMB 251.6 million in cash dividends to shareholders[169]. - The total number of common shareholders at the end of the reporting period was 27,501[188]. - Anhui Jinrui Investment Group holds 44.66% of the shares, totaling 250,487,223 common shares[194]. - The top ten shareholders include various institutional investors, with no changes in the controlling shareholder during the reporting period[197]. Risks and Challenges - The company faces environmental governance risks due to stricter regulations and potential penalties for non-compliance, which could impact performance[87]. - Safety production risks are present due to the handling of hazardous chemicals, although the company has established safety protocols to mitigate these risks[88]. - The company is facing increased risks in export development due to global uncertainties, including the COVID-19 pandemic and rising geopolitical tensions, but is actively communicating with clients to share the burden of increased costs from tariffs[90]. - The company is transitioning towards fine chemicals to counteract the risk of price declines in bulk chemicals due to macroeconomic fluctuations and increased competition[93]. - The company is enhancing its upstream supply chain capabilities to mitigate the impact of rising raw material prices, particularly for coal and bulk chemicals[93].

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,137,138,227.17, representing a 32.62% increase compared to ¥857,471,764.66 in the same period last year[9] - Net profit attributable to shareholders was ¥210,203,133.05, up 38.34% from ¥151,946,864.75 year-on-year[9] - The net profit after deducting non-recurring gains and losses reached ¥198,068,598.21, marking a 48.95% increase from ¥132,978,339.02 in the previous year[9] - Basic earnings per share were ¥0.37, up 37.04% from ¥0.27 in the same period last year[9] - Revenue for Q1 2021 reached ¥1,137,138,227.17, a 32.62% increase from ¥857,471,764.66 in Q1 2020, as business operations normalized following the COVID-19 pandemic[23] - The company reported a net profit of CNY 3,634,853,502.30 in retained earnings, an increase from CNY 3,424,650,369.25[53] - Total operating revenue for the first quarter reached ¥1,137,138,227.17, an increase of 32.6% compared to ¥857,471,764.66 in the previous year[60] - Net profit for the quarter was ¥209,907,357.27, representing a 38.2% increase from ¥151,826,927.73 in the same period last year[66] - The company reported a total comprehensive income of ¥185,654,137.33, up from ¥157,976,251.65, marking a growth of 17.5%[76] Cash Flow - The net cash flow from operating activities was ¥48,163,328.45, a significant increase of 115.56% compared to ¥22,343,802.47 in the same period last year[9] - The company reported a 584.23% increase in net cash flow from financing activities to ¥328,895,096.02, attributed to new long-term borrowings[26] - Cash flow from operating activities amounted to ¥48,163,328.45, compared to ¥22,343,802.47 in the previous period, showing a significant increase of 115.5%[80] - The net cash flow from operating activities was 71,331,609.62, an increase from 54,306,072.67 in the previous period, reflecting a growth of approximately 31.5%[84] - Cash inflow from operating activities totaled 1,017,739,439.23, compared to 909,146,089.02 in the prior period, indicating an increase of about 11.9%[84] - The net cash flow from financing activities was 282,075,224.03, compared to -17,001,130.41 in the previous period, indicating a substantial turnaround[87] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,393,999,992.28, reflecting a 5.66% increase from ¥6,998,152,136.98 at the end of the previous year[9] - Net assets attributable to shareholders amounted to ¥5,158,946,736.42, an increase of 4.31% from ¥4,945,909,384.69 at the end of the previous year[9] - Total current assets amounted to CNY 4,241,220,226.24, an increase of 3.39% from CNY 4,102,412,178.43 on December 31, 2020[44] - Total liabilities increased to CNY 2,234,257,916.61, up 8.91% from CNY 2,051,151,637.26[50] - Current liabilities decreased to CNY 1,240,149,090.04, down 17.43% from CNY 1,502,488,428.60[50] - Non-current liabilities rose to ¥957,135,754.14, significantly higher than ¥510,901,098.86 from the previous year, indicating a 87.2% increase[60] Investments and Expenses - Investment income surged by 306.41% to ¥35,467,761.46, driven by increased returns from financial products and trading financial assets[23] - Research and development expenses for the quarter were ¥36,685,547.61, an increase of 24% compared to ¥29,554,647.52 in the previous year[63] - The company reported investment income of ¥35,467,761.46, significantly higher than ¥8,727,186.91 from the previous year[63] - The company reported a decrease in financial expenses, with interest expenses rising to ¥11,807,891.96 from ¥9,085,575.09, while interest income decreased to ¥6,376,426.36 from ¥9,273,635.09[70] Shareholder Information - The top ten shareholders held a total of 44.66% of the shares, with the largest shareholder, Anhui Jinrui Investment Group Co., Ltd., holding 250,487,223 shares[14] - The total equity attributable to shareholders of the parent company increased to CNY 5,158,946,736.42, up 4.31% from CNY 4,945,909,384.69[53] Other Notable Events - The company is currently facing a patent infringement investigation by Celanese regarding its sweetener products, which accounted for 1.98% of total revenue in 2020[28]

Financial Performance - The company's operating revenue for 2020 was CNY 3,666,246,520.47, a decrease of 7.69% compared to CNY 3,971,856,106.18 in 2019[23] - The net profit attributable to shareholders for 2020 was CNY 718,525,167.63, down 11.16% from CNY 808,761,301.80 in the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 570,031,064.08, a decline of 23.33% compared to CNY 743,468,567.69 in 2019[23] - The basic earnings per share for 2020 were CNY 1.29, down 11.03% from CNY 1.45 in 2019[23] - The diluted earnings per share were CNY 1.28, a decrease of 10.49% compared to CNY 1.43 in the previous year[23] - The weighted average return on equity was 15.50%, down from 19.42% in 2019, reflecting a decrease of 3.92%[23] - Total revenue for the year was approximately ¥3.68 billion, with quarterly revenues of ¥857.47 million, ¥971.53 million, ¥883.18 million, and ¥954.07 million respectively[28] - Net profit attributable to shareholders for the year was approximately ¥719.52 million, with quarterly net profits of ¥151.95 million, ¥204.80 million, ¥176.34 million, and ¥185.43 million respectively[28] - The net cash flow from operating activities for the year was approximately ¥994.01 million, with quarterly cash flows of ¥22.34 million, ¥386.13 million, ¥113.74 million, and ¥471.80 million respectively[28] Assets and Liabilities - The total assets at the end of 2020 were CNY 6,998,152,136.98, representing a growth of 13.80% from CNY 6,149,326,400.76 at the end of 2019[23] - The net assets attributable to shareholders increased by 10.35% to CNY 4,945,909,384.69 from CNY 4,482,064,629.63 in 2019[23] - The company's cash and cash equivalents decreased by 97.12% year-on-year, with a net decrease of ¥18,953,469.75 in 2020, compared to a decrease of ¥657,346,634.26 in 2019[115] - As of the end of 2020, cash and cash equivalents amounted to ¥1,138,980,405.07, which is 16.28% of total assets, down from 28.87% at the beginning of the year[119] Investment and Capital Expenditure - The company has invested in a new project to build a 5,000-ton annual production capacity for sucralose and a circular economy industrial park, indicating ongoing expansion efforts[56] - The company invested a total of ¥573,264,949.88 in the annual production project of 5,000 tons of sucrose, with a completion rate of 70%[128] - The total investment in the annual production project of 5,000 tons of ethyl maltol was ¥6,584,851.18, with a completion rate of 5%[128] - The company has completed the construction of a 10,000-ton production facility for ethyl maltol, which is currently under development[83] - The company has invested a total of 12,715.61 million CNY in the modified project of sucralose technical renovation and expansion, achieving an investment progress of 63.58%[142] Research and Development - The company established a research institute with over 30 dedicated R&D personnel, focusing on product and process innovation, with 70% holding graduate degrees or higher[68] - The company applied for 151 patents in 2020, including 145 invention patents, and received 17 authorized patents, maintaining its status as a top innovator in Anhui Province[72] - The company has a strong technological foundation with a provincial-level recognized technology center and partnerships with universities for R&D, ensuring continuous innovation[57] - The number of R&D personnel increased by 12.44% to 488, while the proportion of R&D personnel to total employees decreased to 11.07%[114] Market and Product Development - The company focuses on the development and production of food additives, bulk chemicals, pharmaceutical intermediates, and functional chemical products, serving various industries including food and beverage, healthcare, and agriculture[36] - The company’s major products include high-intensity sweeteners such as aspartame and sucralose, which are widely used in beverages and personal care products[36] - The company has established a strategic layout and product line targeting the food and beverage, pharmaceutical, and advanced manufacturing sectors, supported by ongoing R&D investments[36] - The company plans to expand its market share by actively exploring weak regional markets and launching new product lines[97] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4.5 per 10 shares, based on a total of 559,126,329 shares[6] - The cash dividends for the last three years have been consistently paid, with the total cash dividends amounting to RMB 251,606,848.05 in 2020, RMB 300,778,936.74 in 2019, and RMB 201,157,216.92 in 2018[173] - The company’s cash dividend payout ratio for 2020 is 35.02% of the net profit attributable to shareholders[173] - The company has committed to actively returning profits to all shareholders while considering future development and project investment plans[174] Compliance and Governance - The company has committed to not engaging in any business that competes directly or indirectly with its subsidiaries, ensuring compliance with legal obligations and protecting shareholder interests[181] - There were no instances of non-compliance with commitments made by the controlling shareholders, ensuring the integrity of transactions and the protection of company assets[182] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period, indicating strong financial governance[186] - The company has adhered to the new accounting policies and estimates as mandated by the Ministry of Finance, ensuring compliance with updated financial reporting standards[187] Environmental and Safety Management - The company is committed to improving safety and environmental management, establishing a long-term regulatory mechanism, and increasing investment in safety and environmental protection[156] - The company faces environmental governance risks due to stricter regulations and potential penalties for non-compliance, which could impact performance[159] - The company emphasizes strict quality control to mitigate food safety risks in downstream markets, ensuring compliance with standards[164] Strategic Goals and Future Plans - The company aims to increase its core products or product clusters to five by the end of 2022 and successfully develop one to two new business segments[151] - The company has a strategic goal to achieve a production value of 10 billion CNY within the next five years[151] - The company plans to avoid adding new capacity in bulk chemicals and focus on developing fine chemicals to mitigate macroeconomic fluctuations[160] - The company is actively expanding sales channels in South America and Europe to diversify risks associated with trade tensions and geopolitical issues[163]

Financial Performance - Net profit attributable to shareholders was ¥176,344,691.57, a decrease of 15.86% year-on-year[9]. - Operating revenue for the reporting period was ¥883,175,443.01, down 13.11% compared to the same period last year[9]. - Basic earnings per share decreased by 18.42% to ¥0.31[9]. - The weighted average return on net assets was 3.79%, down 1.28% from the previous year[9]. - Investment income decreased by 36.61% to ¥11,594,206.35, primarily due to reduced returns from financial investments[22]. - The total operating revenue for the current period is CNY 2,712,177,274.26, a decrease of 9.4% compared to CNY 2,994,375,886.18 in the previous period[78]. - The net profit for the current period is CNY 206,854,349.79, an increase of 3.7% from CNY 200,371,544.71 in the previous period[75]. - The total comprehensive income for the current period is CNY 175,252,445.24, compared to CNY 209,902,771.60 in the previous period, reflecting a decrease of 16.6%[70]. - The total profit for the third quarter was CNY 629,931,614.13, down from CNY 718,154,154.24, marking a decline of 12.3% year-over-year[81]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,514,395,042.80, an increase of 5.94% compared to the end of the previous year[9]. - The company's total liabilities increased to ¥1,750,607,696.02 from ¥1,667,167,058.73, reflecting an increase of about 5.00%[49]. - The total equity attributable to shareholders rose to ¥4,763,030,803.02 from ¥4,482,064,629.63, which is an increase of approximately 6.26%[52]. - Current assets totaled CNY 4,262,623,037.37, slightly down from CNY 4,272,867,826.54 in the previous year[53]. - Non-current assets rose significantly to CNY 2,027,853,565.64 from CNY 1,633,145,383.42, showing strong investment in long-term assets[56]. - Total liabilities increased to CNY 1,588,891,166.61 from CNY 1,508,713,361.64, indicating a rise in the company's obligations[59]. Cash Flow - The net cash flow from operating activities was ¥113,736,484.87, a decline of 38.96% year-on-year[9]. - Cash inflow from operating activities totaled 2,700,674,917.49 CNY, down 15.4% from 3,192,868,301.81 CNY[94]. - Cash outflow from operating activities was 2,178,462,761.67 CNY, a decrease of 17.0% compared to 2,625,015,674.28 CNY[94]. - The net cash flow from investing activities was -341,603,519.41 CNY, worsening from -196,128,781.53 CNY in the previous period[97]. - The net cash flow from financing activities was -224,925,185.78 CNY, an improvement from -387,920,277.94 CNY in the previous period[97]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,948[13]. - The largest shareholder, Anhui Jinrui Investment Group Co., Ltd., holds 44.66% of the shares[13]. - The company repurchased a total of 7,820,782 shares, accounting for 1.40% of the total share capital, with a total transaction amount of ¥149,429,857.43[27]. Inventory and Receivables - Accounts receivable increased by 77.70% to ¥391,256,430.25 from ¥220,175,392.95 due to strict control over year-end sales collection[22]. - The company's inventory decreased to ¥317,107,353.56 from ¥372,637,433.61, a decline of about 14.92%[43]. - The company reported a decrease in inventory to CNY 272,476,986.62 from CNY 336,331,498.92, suggesting better inventory management[53]. Expenses - Management expenses grew by 35.02% to ¥82,455,189.90, mainly due to the recognition of management expenses from the first phase of the core employee stock ownership plan[22]. - Research and development expenses decreased to CNY 34,673,889.13 from CNY 45,493,151.15, indicating a potential shift in R&D strategy[64]. - The company experienced a decrease in other income to CNY 5,315,401.73 from CNY 23,183,244.67 in the previous period, a decline of 77%[71]. Future Outlook - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed during the call[81].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,829,001,831.25, a decrease of 7.53% compared to ¥1,977,990,127.01 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥356,748,253.71, down 11.11% from ¥401,322,499.43 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥307,820,851.95, a decline of 19.66% compared to ¥383,155,060.61 in the same period last year[23]. - The basic earnings per share were ¥0.64, down 11.11% from ¥0.72 in the same period last year[23]. - The diluted earnings per share were ¥0.63, a decrease of 11.27% compared to ¥0.71 in the previous year[23]. - The weighted average return on equity was 7.91%, down from 10.05% in the previous year, a decrease of 2.14 percentage points[23]. - The company's operating revenue for the current period is ¥1,829,001,831.25, a decrease of 7.53% compared to ¥1,977,990,127.01 in the same period last year[57]. - The cost of goods sold is ¥1,263,108,431.07, down 4.61% from ¥1,324,204,178.23 year-on-year[57]. - Research and development expenses decreased by 12.02% to ¥69,917,816.16 from ¥79,472,678.72 in the previous year[57]. Assets and Cash Flow - The total assets at the end of the reporting period were ¥6,128,766,212.51, a slight decrease of 0.33% from ¥6,149,326,400.76 at the end of the previous year[23]. - The net cash flow from operating activities increased by 7.07% to ¥408,475,670.95 from ¥381,517,482.79 in the previous year[23]. - The net increase in cash and cash equivalents is ¥140,166,128.42, a significant increase of 368.05% from a decrease of ¥52,291,500.57 in the previous year[57]. - The company's total assets include cash and cash equivalents amounting to ¥2,116,051,624.43, representing 34.53% of total assets, up from 31.20% last year[66]. Business Operations - The main business of the company remains unchanged, with food additives now accounting for over 50% of total revenue[34]. - The company has developed a comprehensive chemical industry platform, focusing on food additives, functional chemicals, and bulk chemicals[34]. - The production capacity and market share of the company's sweeteners and flavor products are leading globally, particularly in the beverage sector[37]. - The company is investing significantly in projects such as the 5,000 tons per year sucralose project and the first phase of the Dingyuan circular economy industrial park[40]. - The company is actively expanding its market presence both domestically and internationally while enhancing its product structure[36]. - Revenue from food additives reached 1.042 billion yuan, an increase of 7.76% year-on-year, accounting for 56.95% of total revenue[50]. - Revenue from bulk chemicals was 574 million yuan, a decrease of 23.44% year-on-year, making up 31.40% of total revenue[50]. Environmental and Social Responsibility - The company has established three wastewater treatment facilities with a total capacity of 8,400 tons per day, ensuring effective wastewater treatment[153]. - The company has maintained stable environmental protection investments and continuously upgraded pollution control facilities[152]. - The total emissions of sulfur dioxide are 13,289 kg, which is below the annual limit of 43,665 kg[149]. - The company donated 1.5 million yuan for poverty alleviation efforts in the first half of 2020, contributing to the "Hundred Enterprises Help Hundred Villages" initiative[164]. - The company has invested 150,000 yuan in poverty alleviation public welfare funds, focusing on various support initiatives[165]. - The company is committed to enhancing the quality of its poverty alleviation projects in collaboration with local government and community organizations[166]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[7]. - The half-year financial report has not been audited, indicating a potential area of concern for investors[112]. - The total number of common shareholders at the end of the reporting period is 23,295[186]. - Anhui Jinrui Investment Group Co., Ltd. holds 44.83% of the shares, totaling 250,487,223 shares[186]. - The company has not experienced any changes in its controlling shareholder during the reporting period[194]. - The actual controller of the company has not changed during the reporting period[194]. - The company has not conducted any asset or equity acquisitions or sales during the reporting period[127]. Investment and Projects - The company has invested CNY 96,549,007.27 in the annual production of 5,000 tons of trichlorosucrose project, with an expected return of CNY 282,296,000.00[73]. - The company has decided to change the annual production project of 400 tons of pyridine salt to a sucralose technical upgrade project due to high raw material costs and market conditions[91]. - The sucralose project is expected to meet the growing market demand, reflecting the company's strategic adjustment to enhance market responsiveness[91]. - The company has achieved a benefit of CNY 7.57 million from its investment projects, indicating effective utilization of funds[85]. Risk Management - The company faces environmental governance risks due to stricter regulations and increased costs associated with compliance, which could impact performance if standards are not met[102]. - The company is focusing on enhancing its product line and transitioning towards fine chemicals to mitigate risks associated with macroeconomic fluctuations and price declines in basic chemical products[106][107]. - The company is actively expanding its sales channels, particularly in underrepresented regions like South America and Europe, to diversify risks related to international trade tensions[106].

Financial Performance - The company's operating revenue for Q1 2020 was ¥857,471,764.66, a decrease of 5.63% compared to ¥908,660,094.20 in the same period last year[9] - Net profit attributable to shareholders was ¥151,946,864.75, down 15.89% from ¥180,648,176.14 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥132,978,339.02, a decrease of 17.63% compared to ¥161,435,518.69 in the previous year[9] - Basic and diluted earnings per share were both ¥0.27, down 15.63% from ¥0.32 in the previous year[9] - The weighted average return on equity was 3.41%, down from 4.50% year-on-year, reflecting a decrease of 1.09%[9] - The company's total profit for the current period is ¥180,369,564.29, down from ¥214,065,779.78 in the previous period, indicating a decline in overall profitability[62] - The total comprehensive income amounted to ¥157,976,251.65, compared to ¥183,497,141.73 in the previous period, reflecting a decrease[72] Cash Flow - Net cash flow from operating activities improved significantly to ¥22,343,802.47, a 229.12% increase from -¥17,304,738.55 in the same period last year[9] - Cash flow from operating activities generated a net cash inflow of ¥22,343,802.47, a significant improvement from a net outflow of ¥17,304,738.55 in the previous period[73] - Cash inflow from sales of goods and services was ¥893,839,307.95, slightly up from ¥888,698,157.04 in the previous period[73] - Cash flow from financing activities generated a net inflow of ¥48,067,569.83, recovering from a net outflow of ¥1,213,887.50 in the previous period[79] - The company recorded a cash inflow of ¥95,000,000.00 from borrowings during the financing activities[80] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,151,468,180.55, a slight increase of 0.03% from ¥6,149,326,400.76 at the end of the previous year[9] - Current liabilities totaled ¥1,155,176,421.92, an increase of approximately 16.67% from ¥990,101,310.40 in the previous period[54] - Non-current liabilities amounted to ¥527,483,062.24, up from ¥518,612,051.24, reflecting a growth of about 1.67%[54] - The total liabilities and equity combined was ¥6,151,468,180.55, compared to ¥6,149,326,400.76, showing a marginal increase[47] - The company's accounts payable decreased to ¥308,602,843.95 from ¥343,788,058.18, representing a decline of approximately 10.3%[41] Shareholder Information - Total assets reached ¥5,934,419,061.98, slightly increasing from ¥5,906,013,209.96, indicating a growth of approximately 0.48%[54] - The total number of ordinary shareholders at the end of the reporting period was 24,314, with the largest shareholder holding 44.83% of the shares[13] - The total equity attributable to shareholders was ¥4,331,442,468.69, down from ¥4,482,064,629.63, reflecting a decrease of about 3.36%[47] Investment and Expenses - The total operating costs for the current period are ¥690,168,267.83, a reduction from ¥714,539,091.82 in the previous period, indicating a cost management improvement[62] - Research and development expenses for the current period are ¥29,554,647.52, slightly decreased from ¥31,888,405.83 in the previous period, showing a focus on maintaining R&D investment[62] - Investment income decreased by 46.24% to ¥8,727,186.91, due to reduced financial management income[19] - Financial expenses decreased by 618.93% to -¥6,399,296.57, driven by increased interest income and exchange gains[19] Other Information - The company has a remaining convertible bond balance of ¥599,842,000 as of March 31, 2020, with a conversion price adjusted to ¥22.42 per share[20] - The first quarter report for 2020 has not been audited, which may affect the reliability of the financial data presented[98] - The company has not reported any significant changes in its financial position compared to the previous reporting period[87]

Financial Performance - The company's operating revenue for 2019 was ¥3,971,856,106.18, a decrease of 3.89% compared to 2018[26]. - The net profit attributable to shareholders for 2019 was ¥808,761,301.80, down 11.28% from the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥743,468,567.69, reflecting a 12.26% decline year-on-year[26]. - The net cash flow from operating activities was ¥905,749,049.78, a decrease of 5.97% compared to 2018[26]. - The total assets at the end of 2019 amounted to ¥6,149,326,400.76, representing an increase of 7.98% from the end of 2018[26]. - The net assets attributable to shareholders increased by 14.34% to ¥4,482,064,629.63 at the end of 2019[26]. - The basic earnings per share for 2019 was ¥1.45, down 10.49% from ¥1.62 in 2018[26]. - The diluted earnings per share decreased by 10.06% to ¥1.43 in 2019[26]. - The weighted average return on equity was 19.42%, down from 25.15% in the previous year[26]. Revenue Breakdown - Revenue from food additives reached 1.851 billion yuan, an increase of 5.56% year-on-year, accounting for 46.60% of total revenue, up 4.18% from 2018[60]. - Revenue from bulk chemicals was 1.550 billion yuan, a decrease of 9.63% year-on-year, accounting for 39.01% of total revenue, down 2.48% from 2018[60]. - Revenue from the basic chemicals segment was ¥1,819,065,272.75, accounting for 45.80% of total revenue, down 13.36% from the previous year[73]. - Revenue from the fine chemicals segment increased by 5.63% to ¥1,870,569,558.35, representing 47.10% of total revenue[73]. - Domestic sales contributed ¥2,977,651,416.13, which is 74.97% of total revenue, a decline of 5.39% year-on-year[73]. - Export sales reached ¥994,204,690.05, accounting for 25.03% of total revenue, with a slight increase of 0.90%[73]. Investments and Projects - The company completed the transformation of the "400 tons/year pyridine salt project" to the "trichlorosucrose technical upgrade and expansion project," increasing capacity from 1,500 tons to 3,000 tons[61]. - The company is investing in new projects, including a 5,000 tons/year trichlorosucrose project and a 5,000 tons/year maltol project, currently undergoing administrative approval[62]. - The total planned investment for committed projects was RMB 60,000 million, with RMB 22,233.33 million in gross profit realized during the reporting period[116]. - The company plans to invest in a project with an annual production capacity of 5,000 tons of ethyl maltol, establishing a controlling subsidiary with a registered capital of RMB 20 million[83]. - The company has established a wholly-owned subsidiary in Hefei, Anhui, with an investment of RMB 30 million to enhance product structure and market competitiveness[83]. Research and Development - The company continues to focus on the research and development of food additives and functional chemical products, serving various industries including food and beverage, healthcare, and agriculture[41]. - The company has established a strong technological foundation with a provincial-level technology center and has made substantial investments in R&D[51]. - R&D expenses increased by 59.20% to RMB 136,639,528.51, reflecting the company's commitment to enhancing R&D activities[90]. - The number of R&D personnel rose by 29.17% to 434, with R&D investment amounting to RMB 136,639,528.51, which is 3.44% of operating revenue[92]. - The company applied for 53 patents in 2019, including 46 invention patents, and has a total of 77 invention patents granted by the end of the reporting period[91]. Cash Flow and Dividends - The company plans to distribute cash dividends of RMB 5.40 per 10 shares for the 2019 fiscal year, totaling approximately RMB 300.78 million, which represents 37.19% of the net profit attributable to ordinary shareholders[149]. - The cash dividend distribution plan is in line with the company's profit distribution policy and future development plans[153]. - The company's distributable profit for the period is reported at 3,006,904,138.36 RMB[153]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during significant capital expenditure periods[153]. - The company has not proposed any cash dividend distribution plan for the current reporting period despite having positive distributable profits[152]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[7]. - The company’s future plans and strategies are subject to market risks, and investors are advised to remain cautious[8]. - The company faces environmental governance risks due to stricter regulations and potential increased costs, but has established a comprehensive environmental protection system[139]. - The company has implemented safety measures to mitigate risks associated with hazardous chemicals in production, ensuring controlled operations[139]. - The company has established commitments to avoid related party transactions that could harm shareholder interests[154]. Corporate Governance - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[154]. - The company has made a commitment to not transfer benefits to other entities or individuals under unfair conditions[160]. - The company has not reported any significant accounting errors requiring retrospective restatement during the reporting period[169]. - The company appointed Rongcheng Accounting Firm (Special General Partnership) for auditing services, with a fee of 950,000 RMB, marking a continuous service period of 13 years[171]. - The company has not encountered any violations in the use and management of raised funds, adhering to relevant laws and regulations[119].

Financial Performance - Operating revenue decreased by 6.66% to CNY 1,016,385,759.17 compared to the same period last year[9] - Net profit attributable to shareholders decreased by 0.73% to CNY 209,590,682.08 compared to the same period last year[9] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 8.81% to CNY 181,974,421.72 compared to the same period last year[9] - Basic earnings per share remained unchanged at CNY 0.38, while diluted earnings per share increased by 5.71% to CNY 0.37[9] - Weighted average return on equity decreased by 0.55% to 5.07% compared to the same period last year[9] - Total operating revenue for the current period was ¥1,016,385,759.17, a decrease of 6.6% compared to ¥1,088,850,384.59 in the previous period[56] - Net profit for the current period was ¥209,485,191.36, slightly down from ¥211,142,264.36 in the previous period, representing a decrease of 0.8%[59] - The net profit for the current period is ¥610,609,754.05, a decrease of approximately 19% compared to ¥754,004,990.98 in the previous period[76] - The total profit for the current period is ¥718,154,154.24, down from ¥884,198,904.22, reflecting a decline of about 19%[76] - Total comprehensive income for the current period was ¥200,371,544.71, compared to ¥214,590,100.73 in the previous period, indicating a decline of 6.6%[70] - The total comprehensive income for the current period is ¥613,158,981.94, down from ¥755,499,040.04, reflecting a decrease of about 18.8%[80] Assets and Liabilities - Total assets increased by 2.92% to CNY 5,861,181,974.02 compared to the end of the previous year[9] - Total liabilities decreased to ¥1,673,925,544.78 from ¥1,774,741,435.42, a reduction of approximately 5.7%[42] - Total equity attributable to shareholders increased to ¥4,187,059,856.70 from ¥3,919,904,462.40, an increase of about 6.8%[45] - Total current assets decreased to ¥3,698,698,124.13 from ¥3,840,494,025.34, a decline of approximately 3.7% year-over-year[39] - Cash and cash equivalents decreased to ¥1,822,639,601.21 from ¥1,975,822,838.74, a decrease of about 7.7%[36] - Total non-current assets increased to ¥2,162,483,849.89 from ¥1,854,151,872.48, a growth of approximately 16.6%[39] - Total liabilities decreased to ¥1,582,978,073.40 from ¥1,792,849,684.23, indicating a reduction of 11.7%[55] - The company's total equity rose to ¥4,118,969,604.38, an increase of 7.1% from ¥3,845,406,923.97[55] Cash Flow - Net cash flow from operating activities decreased by 33.93% to CNY 186,335,144.74 compared to the same period last year[9] - The net cash flow from operating activities was 600,278,264.22, a decrease of 15.4% compared to 709,146,026.36 in the previous period[97] - Total cash inflow from operating activities amounted to 3,050,077,405.63, down from 3,501,704,717.42, reflecting a decline of approximately 12.9%[97] - The net cash flow from investment activities decreased by 512.44% to -¥196,128,781.53, attributed to a higher amount of investment recovery in the previous year[20] - The net cash flow from financing activities was -509,830,990.15, an improvement from -673,469,629.85 in the previous period[100] Research and Development - Research and development expenses increased by 60.61% to ¥124,965,829.87, reflecting significant growth in R&D investment compared to the previous period[20] - Research and development expenses increased significantly to ¥45,493,151.15, up from ¥27,943,416.32, marking a growth of 62.5%[56] - Research and development expenses increased significantly to ¥57,240,986.26, up 104.9% from ¥27,943,416.32 in the previous period[67] - Research and development expenses increased to ¥128,056,656.58 from ¥77,808,202.48, representing a rise of about 64%[81] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,798[13] - The company repurchased 7,550,582 shares, accounting for 1.35% of total share capital, with a total transaction amount of ¥143,244,840.43[24] Other Income and Expenses - Government subsidies recognized in the current period amounted to CNY 30,916,597.30, mainly from stabilization subsidies received[9] - Other income surged by 528.40% to ¥30,916,597.30, primarily due to an increase in government subsidies received[20] - Other income for the current period was ¥23,183,244.67, significantly higher than ¥2,149,180.83 in the previous period[67] - The company experienced a financial expense reduction, reporting a financial income of ¥1,508,616.73 compared to a financial expense of ¥10,510,055.15 in the previous period[67] - The income tax expense for the current period is ¥107,544,400.19, down from ¥130,193,913.24, reflecting a decrease of approximately 17%[76]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,977,990,127.01, a decrease of 12.32% compared to CNY 2,255,996,853.00 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 401,322,499.43, down 26.07% from CNY 542,862,726.62 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 383,155,060.61, a decrease of 25.33% compared to CNY 513,144,707.92 in the previous year[23]. - The basic earnings per share decreased by 25.00% to CNY 0.72, down from CNY 0.96 in the previous year[23]. - The diluted earnings per share also fell by 26.04% to CNY 0.71, compared to CNY 0.96 in the same period last year[23]. - The weighted average return on net assets was 10.05%, down from 15.05% year-on-year, a decrease of 5.00%[23]. - The total operating cost decreased by 10.32% to ¥1,324,204,178.23 from ¥1,476,586,658.87 year-on-year[56]. - Revenue from bulk chemicals was 750 million RMB, a decline of 15.40% year-on-year, primarily due to falling prices[50]. - Revenue from food additives increased to 967 million RMB, reflecting a growth of 4.13% driven by higher sales volume[50]. Cash Flow and Investments - The net cash flow from operating activities increased by 10.27% to CNY 381,517,482.79, compared to CNY 345,980,439.77 in the same period last year[23]. - The company reported a total investment income of 18,167,438.82, with a tax impact of 3,240,956.55[29]. - The company's cash and cash equivalents increased to ¥1,802,143,084.52, representing 31.20% of total assets, up from 26.00% in the previous year[64]. - The company has raised a total of CNY 59,003 million through public offerings, with CNY 3,945.81 million invested during the reporting period and a cumulative investment of CNY 44,624.42 million[76]. - The company has utilized idle raised funds to purchase wealth management products amounting to CNY 12,000 million, with a remaining balance of CNY 3,194.92 million in the special account for raised funds[81]. Business Strategy and Operations - The main business remains unchanged, focusing on the R&D, production, and sales of basic and fine chemical products, including food additives and bulk chemicals[34]. - The company has developed a vertical integration strategy across multiple industrial chains, targeting high-quality markets such as food and beverage, healthcare, and high-end manufacturing[34]. - The company is focusing on diversifying its product offerings, aiming to increase its core product clusters to five and explore one to two new business segments[49]. - The company is expanding its product line and reducing production costs through horizontal and vertical extensions of its industrial chain[40]. - The company is actively pursuing market expansion through the application of sweeteners in various products, including fruit products and beverages[51]. Research and Development - The company has established a "Chemical Process and Core Technology Research and Development Center" in collaboration with universities to enhance its technological capabilities[39]. - Research and development investment increased by 77.52% to ¥79,472,678.72 from ¥44,767,766.44 year-on-year[56]. - The company has achieved a leading position in the production yield and cost levels of acesulfame and ethyl maltol through continuous technological innovation[39]. Environmental and Safety Management - The company is committed to safety and environmental management, conducting regular safety training and emergency drills[52]. - The company emphasizes the importance of environmental protection and has established a comprehensive system for environmental governance, ensuring compliance with increasingly stringent regulations[95]. - The company has implemented a comprehensive environmental protection and governance system to ensure compliance with pollution discharge standards[132]. - The company has established three wastewater treatment facilities with a total capacity of 8,400 tons per day, ensuring effective wastewater treatment[133]. - The company has not experienced any incidents of exceeding wastewater discharge standards during the reporting period[133]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company has successfully completed the election of a new board of directors and supervisory board, ensuring a smooth transition for future governance[55]. - The company approved a total guarantee amount of CNY 15,000,000 during the reporting period, with no actual guarantees provided to subsidiaries[122]. - The company has approved the implementation of the first phase of its core employee stock ownership plan[111]. - The company’s major shareholder, Anhui Jinrui Investment Group Co., Ltd., holds 44.83% of the shares, totaling 250,487,223 shares[169]. Market Challenges and Risks - The overall chemical industry is facing challenges due to macroeconomic downturns and trade tensions, impacting bulk chemical prices[35]. - The company faces risks related to macroeconomic fluctuations, particularly affecting the demand for basic chemical products, which could impact sales and profitability[95]. - There is a risk of product price decline due to decreased demand for basic chemical products and intensified market competition, which could affect overall profitability[98]. - The company is transitioning towards fine chemicals to lower costs and enhance internal governance capabilities to counteract price decline risks[98].