Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,125,114,024.55, representing an increase of 81.54% compared to CNY 619,775,693.73 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 80.91% to CNY 4,953,905.15 from CNY 25,951,982.45 year-on-year[17]. - The net profit after deducting non-recurring gains and losses fell by 85.96% to CNY 3,019,663.20 compared to CNY 21,512,327.41 in the previous year[17]. - The basic earnings per share dropped by 80.94% to CNY 0.0206 from CNY 0.1081 in the same period last year[17]. - The company reported a net profit forecast for Q1-Q3 2019 to be between -20 million to -10 million RMB, a significant decline compared to a net profit of 33.55 million RMB in the same period of 2018[79]. - The company reported a total profit of CNY 6.26 million for the first half of 2019, compared to CNY 29.84 million in the same period of 2018, a decrease of approximately 79.0%[158]. - The company’s net profit distribution was CNY -48,000,000.00 to shareholders during the period[194]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -22,469,916.00, worsening by 36.57% from CNY -16,452,747.14 in the same period last year[17]. - The company's cash and cash equivalents decreased to CNY 117,934,084.88 from 188,868,749.12 RMB at the end of 2018, a decline of approximately 37.5%[148]. - The company's cash and cash equivalents at the end of the first half of 2019 were 117,934,084.88 CNY, down from 148,429,146.16 CNY at the end of the first half of 2018, indicating a decrease in liquidity[168]. - The company recorded a cash outflow of 96,470,000.00 CNY for debt repayment in the first half of 2019, significantly higher than 20,000,000.00 CNY in the same period of 2018, reflecting increased debt servicing obligations[168]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,578,703,203.96, an increase of 4.39% from CNY 1,512,291,718.09 at the end of the previous year[17]. - The total liabilities amounted to CNY 427,858,068.53, compared to CNY 346,067,936.11, showing an increase of about 23.6%[151]. - Current liabilities rose to CNY 412,268,143.79, up from CNY 328,740,564.19, indicating an increase of about 25.4%[150]. - The company's inventory increased to CNY 107,998,182.19 from CNY 71,086,754.04, representing a growth of approximately 52.0%[149]. - Short-term borrowings increased significantly to CNY 241,373,500.00 from CNY 184,316,000.00, an increase of about 31.0%[155]. Market and Industry Position - The company is primarily engaged in the production of fine chemical products, including AC foaming agents, chlorosulfonic acid, and caustic soda[25]. - The company exports its AC foaming agents primarily to Southeast Asia, South America, South Africa, the United States, Italy, and Turkey, indicating a strong international market presence[29]. - The company has a 40% export ratio for its caustic soda, which is primarily used in the production of sodium hypochlorite for AC foaming agents[28]. - The company is actively expanding its global market presence despite a decrease in export volume due to the US-China trade war[45]. Production and Capacity - The company has an annual production capacity of 80,000 tons for AC foaming agents, 50,000 tons for chlorosulfonic acid, and 300,000 tons for caustic soda, which enhances its economies of scale and competitive advantage in the industry[35]. - The company is constructing a 20,000-ton/year 80% hydrazine hydrate production facility, expected to be completed by September 2019[48]. - A new 200,000-ton/year hydrogen peroxide production facility is under construction, with completion anticipated by December 2019[48]. - The company has completed fundraising projects that increased production capacity, with AC foaming agent capacity rising to 80,000 tons/year and thionyl chloride capacity increasing to 50,000 tons/year[83]. Research and Development - Research and development expenses increased by 16.97% to RMB 43,697,122.22[51]. - The company holds 16 authorized national invention patents, with 12 related to chlorosulfonic acid and 4 to AC foaming agents, showcasing its commitment to innovation and technology development[31]. Risk Management and Compliance - The company acknowledges risks related to macroeconomic changes, market fluctuations, and environmental regulations that may impact future performance[5]. - The company has implemented strict safety production standards and management systems to mitigate risks associated with hazardous materials and potential accidents[85]. - The company is increasing its environmental protection investments and optimizing existing facilities to ensure compliance with stricter environmental regulations[85]. - The company has established a long-term safety and environmental inspection mechanism to ensure stable safety production[85]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 20,680[133]. - The largest shareholder, Jiangxi Dalong Industrial Co., Ltd., holds 37.55% of the shares, totaling 90,115,000 shares[134]. - The second largest shareholder, New World Fine Chemical Investment Co., Ltd., holds 13.15% of the shares, totaling 31,554,474 shares[134]. Community Engagement - The company has actively engaged in targeted poverty alleviation, contributing a total of 169,600 RMB (approximately 16.96 thousand) for various initiatives[121]. - The company sponsored 120,000 RMB to the local government for poverty alleviation efforts and assisted four impoverished individuals with a total of 9,600 RMB[123].

Financial Performance - The company's operating revenue for Q1 2019 was ¥504,738,606.44, representing a 66.63% increase compared to ¥302,917,328.63 in the same period last year[7]. - Net profit attributable to shareholders decreased by 72.95% to ¥3,244,779.11 from ¥11,996,497.08 year-on-year[7]. - The net profit after deducting non-recurring gains and losses fell by 82.76% to ¥1,947,981.47 compared to ¥11,301,701.84 in the previous year[7]. - Operating profit decreased by 71.22% to ¥4.17 million from ¥14.49 million, attributed to a decline in sales prices of main products and lower gross margins[19]. - Net profit fell by 72.95% to ¥3.24 million from ¥12.00 million, reflecting the same challenges in sales prices and gross margins[19]. - The company expects net profit for the first half of 2019 to decline by over 50% compared to the previous year, with a projected range of ¥25.95 million to ¥12.98 million[24]. Cash Flow - The net cash flow from operating activities was negative at -¥75,401,254.83, worsening by 103.14% from -¥37,117,921.97 in the same period last year[7]. - Cash flow from operating activities showed a net outflow of ¥75.40 million, an increase of 103.14% compared to the previous outflow of ¥37.12 million, due to increased trade procurement payments[21]. - Cash flow from investing activities also saw a net outflow of ¥74.90 million, up 234.75% from ¥22.38 million, driven by higher fixed asset acquisition expenditures[21]. - The total cash outflow from investing activities in Q1 2019 was CNY 74.92 million, compared to CNY 22.54 million in the same period last year[47]. - The net cash flow from financing activities was 52,448,487.49 CNY, a decrease from 5,890,511.86 CNY in the previous period[48]. Assets and Liabilities - Total assets increased by 5.03% to ¥1,588,286,296.19 from ¥1,512,291,718.09 at the end of the previous year[7]. - Total liabilities increased to CNY 415.60 million, compared to CNY 346.07 million at the end of 2018, reflecting a growth of 20.1%[34]. - Total equity attributable to shareholders reached CNY 1.17 billion, slightly up from CNY 1.17 billion at the end of 2018[34]. - The company's total assets amounted to 1,512,291,718.09 CNY, remaining stable compared to the previous period[55]. - Total current liabilities amounted to CNY 324,447,080.94[58]. Inventory and Receivables - Inventory levels increased by 48.58% to ¥105,623,848.60, attributed to higher stock of AC foaming agent products[16]. - Accounts receivable increased to CNY 295.59 million, compared to CNY 303.69 million at the end of 2018, indicating a slight decrease of 2.7%[36]. Earnings Per Share - The company's basic earnings per share decreased by 80.00% to ¥0.01 from ¥0.05 year-on-year[7]. - Basic and diluted earnings per share for Q1 2019 were both CNY 0.01, down from CNY 0.05 in the previous year[41][44]. Research and Development - The company reported a significant increase in research and development expenses, totaling CNY 1.05 million, compared to CNY 1.20 million in the previous year[39]. - Research and development expenses for Q1 2019 were CNY 1.05 million, a decrease of 12.6% from CNY 1.20 million in the previous year[43]. Other Financial Metrics - The weighted average return on net assets dropped to 0.28% from 1.03% in the previous year, a decrease of 0.75%[7]. - The company reported other income of CNY 1.67 million in Q1 2019, compared to CNY 0.98 million in Q1 2018, indicating a 70.1% increase[43]. - The company incurred operating costs of CNY 286.03 million in Q1 2019, up from CNY 248.39 million in Q1 2018, reflecting a 15.1% increase[43]. Financial Reporting - The first quarter report was not audited[59]. - The report was issued by the legal representative Liu Yiyun on April 25, 2019[60].

Financial Performance - The company's operating revenue for 2018 was ¥1,484,846,983.24, representing a 23.58% increase compared to ¥1,201,491,857.09 in 2017[18]. - The net profit attributable to shareholders decreased by 62.20% to ¥56,907,783.46 from ¥150,559,842.18 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥49,313,373.96, down 67.51% from ¥151,761,440.41 in 2017[18]. - The net cash flow from operating activities significantly dropped by 94.35% to ¥6,946,131.99 from ¥122,892,978.93 in 2017[18]. - Basic earnings per share fell to ¥0.2371, a decrease of 62.20% compared to ¥0.6273 in the previous year[18]. - The company reported a significant decline in quarterly net profit, with the fourth quarter showing a profit of ¥23,358,965.94, down from previous quarters[22]. - The company achieved total revenue of CNY 1,484.85 million in 2018, representing a year-on-year growth of 23.58%[44]. - The net profit attributable to ordinary shareholders was CNY 56.91 million, a decrease of 62.20% compared to the previous year[44]. Assets and Investments - Total assets increased by 9.95% to ¥1,512,291,718.09 at the end of 2018, up from ¥1,375,484,410.77 in 2017[18]. - The net assets attributable to shareholders slightly increased by 0.54% to ¥1,166,223,781.98 from ¥1,159,923,198.52 in 2017[18]. - Fixed assets increased by 3.74% due to the completion of related engineering projects[32]. - The company invested ¥138,684,767.24 during the reporting period, reflecting a 15.13% increase compared to the previous year[78]. - The company has committed a total investment of CNY 78,817,200 for the annual production of 50,000 tons of thionyl chloride, with a cumulative investment of CNY 49,591,698.61 as of December 31, 2018, indicating a progress of 62.92%[85]. - The company achieved a cumulative investment of CNY 22,268.6 million for the annual production of 50,000 tons of AC foaming agent, reaching 101.47% of the planned investment[84]. Market and Sales - The average selling price of AC foaming agents decreased by 11.38%, while sales volume increased by 7.21%[44]. - The average selling price of chlorosulfonic acid dropped by 24.64%, with a sales volume increase of 4.58%[44]. - The average selling price of caustic soda fell by 5.85%, but the sales volume surged by 63.99%[44]. - The company expanded its market by developing new customers in Dubai, Thailand, India, and Poland, resulting in increased export volume[46]. - The sales volume of caustic soda surged by 63.99% to 98,302 tons, driven by increased downstream demand and new production capacity[57]. - The company reported a 92.79% increase in inventory of AC blowing agents, attributed to increased market capacity and intensified competition[57]. Research and Development - Research and development expenses rose by 46.38% to ¥4,539,940.70, reflecting accelerated investment in new product development[67]. - The company has allocated 100 million RMB for research and development in new technologies over the next year[121]. - The company plans to continue developing new products such as hydrogen peroxide, hydrazine hydrate, and sucralose, while focusing on market-oriented production and technological breakthroughs[93]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.00 per 10 shares, based on a total of 240,000,000 shares[6]. - In 2018, the cash dividend amount was CNY 24,000,000, representing 42.17% of the net profit attributable to ordinary shareholders[116]. - The total cash dividend (including other methods) for 2018 was CNY 24,000,000, which accounted for 100% of the distributable profit of CNY 51,460,877.89[117]. - The company did not propose any cash dividend distribution plan for ordinary shares in the reporting period despite having positive profits available for distribution[116]. Strategic Plans and Future Outlook - The company plans to achieve total operating revenue of CNY 233,966.63 million and a net profit of CNY 6,026.85 million in 2019[104]. - The company aims to enhance its brand recognition and credibility in both domestic and international markets through improved marketing networks[98]. - The company intends to pursue mergers and acquisitions of quality resource-based enterprises nationwide to complement its existing business and achieve synergy effects[92]. - The company has set a performance guidance of 1.5 billion RMB in revenue for 2019, indicating a growth target of 25%[198]. Environmental and Social Responsibility - The company emphasizes safety and environmental protection, committing to a comprehensive management approach to maintain effective safety and environmental management systems[94]. - The company has achieved a 100% operational rate for environmental protection facilities in 2018[168]. - The company has actively engaged in social responsibility initiatives, including targeted poverty alleviation efforts[161][162]. - The company invested a total of 28.78 million yuan in targeted poverty alleviation efforts[164]. Corporate Governance and Compliance - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, ensuring fair access to information[158]. - The company has not engaged in any asset or equity acquisitions or disposals during the reporting period[144]. - There were no major related party transactions or significant contracts that affected the company's profit during the reporting period[142][149].

Financial Performance - Operating revenue for the reporting period was ¥352,630,276.04, representing a year-on-year increase of 28.54%[7] - Net profit attributable to shareholders was ¥7,596,835.07, a decrease of 57.88% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,944,487.45, down 65.40% year-on-year[7] - Basic earnings per share were ¥0.0317, down 57.79% year-on-year[7] - Operating profit fell by 76.53% to ¥38,898,905.25, impacted by a decline in product prices and rising costs, leading to reduced gross margins[18] - Total profit decreased by 75.74% to ¥39,219,738.19, primarily due to the drop in operating profit[18] - The company expects a net profit attributable to shareholders for 2018 to decrease by 70.00% to 50.00%, with a projected range of ¥4,516.79 to ¥7,527.99 million[23] Cash Flow and Assets - The net cash flow from operating activities was -¥16,443,230.86, a decline of 127.59% compared to the same period last year[7] - Net cash flow from operating activities turned negative at -¥32,895,978, a decline of 132.15% compared to the previous period[21] - Investment cash flow net amount was -¥117,410,896.32, a 99.88% increase due to higher expenditures on technology upgrades[21] - Cash and cash equivalents decreased by 34.38% to ¥144,753,756 due to increased investment in technology upgrades and raw material prepayments[16] - Total assets at the end of the reporting period reached ¥1,441,505,878.87, an increase of 4.80% compared to the end of the previous year[7] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,152[11] - The largest shareholder, Jiangxi Dalong Industrial Co., Ltd., held 37.55% of the shares, totaling 90,115,000 shares[11] Non-Recurring Gains and Other Income - The company reported non-recurring gains totaling ¥6,092,002.67, primarily from asset disposal and government subsidies[8] - The company reported a significant increase in other income, with operating income rising by 59688.77% to ¥777,254 due to insurance claims received[18] Inventory and Receivables - Accounts receivable increased by 49.43% to ¥108,541,301.91, attributed to higher balances from customers within the credit period[16] - Inventory rose by 43.09% to ¥77,356,883.85, driven by increases in product and raw material stock levels[16] Borrowings - Short-term borrowings surged by 621.98% to ¥144,396,000, reflecting the company's strategic need for increased working capital[16] - The weighted average return on net assets was 0.67%, a decrease of 0.91 percentage points compared to the previous year[7]

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥619.78 million, a decrease of 6.06% compared to ¥659.79 million in the same period last year[17]. - The net profit attributable to shareholders was approximately ¥25.95 million, representing a significant decline of 78.13% from ¥118.67 million in the previous year[17]. - The net cash flow from operating activities was negative at approximately -¥16.45 million, a decrease of 138.49% compared to ¥42.75 million in the same period last year[17]. - Basic earnings per share dropped to ¥0.1081, down 78.14% from ¥0.4944 in the previous year[17]. - The total assets at the end of the reporting period were approximately ¥1.37 billion, a slight decrease of 0.60% from ¥1.38 billion at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 2.00% to approximately ¥1.14 billion from ¥1.16 billion at the end of the previous year[17]. - The company reported a total operating cash inflow of 365,074,481.02 yuan, an increase from 331,039,106.90 yuan in the previous period[166]. - The total comprehensive income for the period amounted to CNY 150,559,842.18, contributing to an increase in retained earnings[178]. Market and Product Information - The company is primarily engaged in the production of fine chemical products, including AC foaming agents and chlorosulfonic acid[25]. - The company holds a leading market share in AC blowing agents and thionyl chloride, with significant brand recognition in China[27]. - The average selling price of AC foaming agent decreased by 18.35% year-on-year, while sales volume increased by 1.37%[48]. - The average selling price of chlorosulfonic acid dropped by 40.49% year-on-year, with sales volume decreasing by 2.03%[48]. - The sales price of caustic soda increased by 7.46% year-on-year, with sales volume rising by 50.88%[48]. - The company reported a revenue of CNY 619.78 million, a decrease of 6.06% compared to CNY 659.79 million in the same period last year[48]. - AC blowing agent revenue decreased by 17.23% to ¥403.63 million, with a gross margin decline of 29.36% due to increased capacity and price drops in the industry[53]. - The ion membrane caustic soda product saw revenue growth of 68.14% to ¥131.45 million, with a gross margin increase of 2.06% driven by higher sales prices outpacing cost increases[54]. Research and Development - The company has obtained 16 authorized national invention patents, including 12 for thionyl chloride and 4 for AC blowing agents, showcasing its strong R&D capabilities[27]. - R&D investment increased by 53.57% to CNY 37.36 million, primarily due to higher project investments and depreciation costs[49]. - The company has established a robust technical innovation system, continuously improving production processes and achieving significant cost reductions[35]. Environmental and Safety Measures - The company is committed to increasing its environmental protection investments, optimizing existing facilities, and upgrading wastewater treatment projects to ensure compliance with environmental standards[85]. - The company has implemented strict safety production standards and management systems to mitigate risks associated with hazardous materials and potential safety incidents during production[85]. - The company has established an emergency response plan for environmental incidents, including training and drills to minimize potential damages[113]. - The company reported a 100% operational rate for environmental protection facilities and a 100% waste treatment rate in the first half of 2018[111]. Financial Position and Investments - Total liabilities increased from ¥215,561,212.25 to ¥230,605,897.35, an increase of about 7%[148]. - Short-term borrowings increased significantly from ¥20,000,000.00 to ¥90,000,000.00, a rise of 350%[148]. - The total equity at the end of the reporting period is CNY 1,159,923,198.52, which includes CNY 240,000,000.00 in share capital and CNY 332,560,322.14 in capital reserves[186]. - The company has fulfilled its commitments related to stock reform and will not transfer shares within a specified period following the public offering[90]. - The company reported a total of ¥40.42 million raised from its initial public offering, with ¥37.02 million already invested in projects[67]. Future Outlook and Risks - The expected net profit attributable to shareholders for the first three quarters of 2018 is projected to be between CNY 20.5053 million and CNY 34.1756 million, representing a decrease of 85% to 75% compared to CNY 136.7023 million in the same period of 2017[78]. - The company faces market risks due to price fluctuations of its main products, AC foaming agent and chlorosulfonic acid, which are under pressure from increased competition and declining prices[79]. - The company plans to enhance its market sales efforts, track market dynamics closely, and develop new products to diversify its business and mitigate risks[79]. - The company has implemented measures to manage the risk of raw material price fluctuations, including expanding supplier options and optimizing inventory management[80]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,213[130]. - Jiangxi Dalong Industrial Co., Ltd. holds 37.55% of the shares, totaling 90,115,000 shares[130]. - New World Fine Chemical Investment Co., Ltd. holds 13.15% of the shares, totaling 31,554,474 shares, with a decrease of 800,184 shares during the reporting period[130]. - The total number of shares after the recent changes is 240 million, with 66% of shares being subject to restrictions lifted[125]. Compliance and Governance - The company did not conduct an audit for the semi-annual financial report[94]. - There were no significant litigation or arbitration matters during the reporting period[96]. - The company reported no major related party transactions during the reporting period[100]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[95].

Financial Performance - The company's operating revenue for Q1 2018 was ¥302,917,328.63, a decrease of 9.45% compared to ¥334,544,380.96 in the same period last year[7]. - The net profit attributable to shareholders for Q1 2018 was ¥11,996,497.08, down 81.59% from ¥65,163,030.66 in the previous year[7]. - The basic earnings per share for Q1 2018 was ¥0.0500, a decrease of 81.58% from ¥0.2715 in the previous year[7]. - Total profit decreased by 81.64% compared to the same period last year, attributed to the same reasons affecting operating profit[16]. - Net profit decreased by 81.59% year-on-year, driven by the same factors impacting operating profit and total profit[18]. - Operating profit decreased by 81.09% year-on-year, primarily due to a decline in the price of the main product AC foaming agent and an increase in raw material costs, leading to a reduced gross profit margin[15]. - The estimated net profit for the first half of 2018 is expected to decrease by 70.00% to 85.00% compared to the same period last year, primarily due to declining product prices and rising raw material costs[21]. Cash Flow - The net cash flow from operating activities was negative at -¥37,117,921.97, a decline of 206.67% compared to ¥34,796,411.20 in the same period last year[7]. - Operating cash flow net amount decreased by 206.67% compared to the same period last year, due to a decline in cash recovery from sales and increased cash outflow for raw material purchases[19]. - Investment cash flow net amount decreased by 197.87% year-on-year, as no financial product investments were made during the period[19]. - Cash and cash equivalents net increase decreased by 196.21% year-on-year, mainly due to reduced total profit and increased accounts receivable[19]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,368,915,956.49, a slight decrease of 0.48% from ¥1,375,484,410.77 at the end of the previous year[7]. - Accounts receivable increased by 68.49% compared to the beginning of the year, primarily due to an increase in receivables from customers within the credit period[14]. - Inventory grew by 34.74% compared to the beginning of the year, mainly due to an increase in product and raw material stock[14]. - Short-term borrowings increased by 50.00%, primarily due to an additional ¥10 million in working capital loans from China Bank[14]. - The company reported a 135.46% increase in other receivables, mainly due to prepayments for technical consulting fees and increased claims for work-related injuries[14]. Tax and Other Income - Tax and additional fees decreased by 39.60% compared to the same period last year, mainly due to a decline in export sales revenue and corresponding VAT payable[15]. - Investment income decreased by 100.00% compared to the same period last year, as no investment in financial products was made during the period[15]. - Other income was a new item, reflecting adjustments based on the revised accounting standards for government subsidies effective from June 12, 2017[15]. Return on Investment - The weighted average return on net assets was 1.03%, down 5.02% from 6.05% in the previous year[7].

Financial Performance - The company's operating revenue for 2017 was ¥1,201,491,857.09, representing a 20.05% increase compared to ¥1,000,825,200.30 in 2016[16] - The net profit attributable to shareholders for 2017 was ¥150,559,842.18, a 43.83% increase from ¥104,678,326.25 in 2016[16] - The net cash flow from operating activities reached ¥122,892,978.93, marking a significant increase of 127.11% from ¥54,111,589.91 in 2016[16] - The basic earnings per share for 2017 was ¥0.6273, up 43.81% from ¥0.4362 in 2016[16] - Total assets at the end of 2017 amounted to ¥1,375,484,410.77, reflecting a 13.32% increase from ¥1,213,830,051.94 at the end of 2016[16] - The net assets attributable to shareholders increased by 11.20% to ¥1,159,923,198.52 at the end of 2017, compared to ¥1,043,127,450.49 at the end of 2016[16] - The weighted average return on equity for 2017 was 13.67%, an increase of 3.14% from 10.53% in 2016[16] Revenue and Sales - The company reported a quarterly revenue of ¥334,544,380.96 in Q1 2017, with a net profit of ¥65,163,030.66 for the same period[20] - The chemical industry contributed ¥1,192,721,649.77, accounting for 99.27% of total revenue, with a year-on-year growth of 20.41%[54] - The sales price of caustic soda increased by 53.93% year-on-year, with sales volume rising by 12.40%[46] - The average selling price of AC products rose by 27.25%, while sales volume decreased by 8.32% due to increased competition[46] - The sales volume of AC foaming agents decreased by 8.32% to 56,210 tons, while production volume slightly decreased by 7.98% to 56,349 tons[58] - The ion membrane caustic soda segment saw a significant revenue increase of 74.52%, reaching ¥171,989,580.63[54] Investments and R&D - The company invested in R&D for high-end AC foaming agents and wastewater treatment technologies, achieving positive customer feedback[50] - Research and development expenses increased by 67.23% to ¥67,461,239.78, representing 5.61% of operating revenue[67] - The company aims to achieve an annual production capacity of 80,000 tons of AC foaming agent and establish an AC research institute to enhance R&D efforts[89] - The company is investing 100 million RMB in R&D for new technologies aimed at improving production efficiency by 15%[199] Production Capacity and Expansion - The company has a production capacity of 72,000 tons for AC blowing agents, 35,000 tons for thionyl chloride, and 260,000 tons for caustic soda annually[37] - The company aims to expand its production scale through the completion of the 300,000 tons ion membrane caustic soda expansion project and the 50,000 tons thionyl chloride technical upgrade project[37] - The company has completed a technical upgrade project to increase AC foaming agent production capacity by 50,000 tons per year, bringing total capacity to 80,000 tons per year by 2018[49] - The company is implementing a project to expand the production of chlorosulfonic acid, with completion expected by December 2018[49] Market Strategy and Competition - The company is actively expanding its overseas market presence while optimizing its domestic market strategy[48] - The company intends to acquire and collaborate with quality resource-based enterprises nationwide to reduce production costs and achieve synergistic effects[90] - The company will focus on developing new products such as sucralose, H-acid, and chlorinated butyl ester while enhancing existing product lines[91] - The company plans to adjust its marketing strategy to develop new profit growth points and maximize efficiency amid rising raw material costs[97] Environmental and Social Responsibility - The company has established a 100% operational rate for environmental protection facilities and a 100% treatment rate for waste[157] - The company implemented significant pollution reduction projects, including ammonia recovery and flue gas desulfurization, contributing to sustainable development[150] - The company is committed to a sustainable development strategy focusing on circular economy and energy conservation[150] - The company invested 20 million yuan in various poverty alleviation initiatives, including 3 million yuan for supporting 6 impoverished students[153] Shareholder and Governance - The company has committed to not transferring or entrusting the management of its shares for a period of 36 months from March 2015, and this commitment is currently being strictly fulfilled[109] - The company has established measures to ensure that any violations of commitments will be reported to the board of directors, and compensation will be provided for any losses incurred[113] - The company has a structured plan for share reduction that adheres to relevant laws and regulations, ensuring compliance throughout the process[113] - The current board consists of nine members, including three independent directors, ensuring a diverse governance structure[188] Future Outlook - The company has set a revenue guidance for 2018 at 1.8 billion RMB, which reflects an expected growth of 20%[199] - Future guidance remains cautious, with an emphasis on maintaining profitability amid market challenges[189] - The management team emphasized a focus on sustainability initiatives, aiming for a 25% reduction in carbon emissions by 2020[199] - The company aims to maintain its market position and explore new growth opportunities in the coming years[189]

江西世龙实业股份有限公司 2017 年第三季度报告正文 证券代码：002748 证券简称：世龙实业 公告编号：2017-048 江西世龙实业股份有限公司 Jiangxi Selon Industrial Co., Ltd 2017 年第三季度报告正文 1 江西世龙实业股份有限公司 2017 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。 公司负责人刘宜云、主管会计工作负责人胡敦国及会计机构负责人(会计主 管人员)邓京云声明：保证季度报告中财务报表的真实、准确、完整。 2 江西世龙实业股份有限公司 2017 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 开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为经常性损益的项目，应 说明原因 √ 适用 □ 不适用 | 项目 | 涉及金额（元） 原因 | | -- ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥659,789,185.08, representing a 38.24% increase compared to ¥477,269,760.26 in the same period last year[18]. - The net profit attributable to shareholders was ¥118,667,753.43, a significant increase of 227.33% from ¥36,253,389.91 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥119,382,308.50, up 238.95% from ¥35,221,252.68 year-on-year[18]. - The net cash flow from operating activities was ¥42,747,958.91, an increase of 66.15% compared to ¥25,729,107.35 in the same period last year[18]. - The total operating revenue for the first half of 2017 was ¥659,789,185.08, representing a 38.24% increase compared to ¥477,269,760.26 in the same period last year[52]. - The net profit for the first half of 2017 was CNY 118,667,753.43, a significant increase of 227.5% compared to CNY 36,253,389.91 in the same period last year[143]. - Operating profit reached CNY 144,103,077.12, up from CNY 42,991,356.83, reflecting a growth of 235.5% year-on-year[143]. - The comprehensive gross profit margin improved by 13.85% year-on-year, contributing to the net profit growth outpacing revenue growth[46]. - The average selling price of AC foaming agent increased by 49.97% year-on-year, while the price of caustic soda rose by 60.28%[45]. - The company anticipates intensified market competition in the second half of the year due to rapid capacity expansion in the industry[47]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,316,050,357.40, an increase of 8.42% from ¥1,213,830,051.94 at the end of the previous year[18]. - The total liabilities as of June 30, 2017, were CNY 185,830,268.12, compared to CNY 170,702,601.45 at the beginning of the year, reflecting a rise of 8.3%[139]. - The cash and cash equivalents at the end of the reporting period were CNY 128,888,336.67, up from CNY 109,268,948.72 at the beginning of the year, indicating a growth of 18.5%[137]. - The accounts receivable increased to CNY 261,175,799.08 from CNY 197,421,092.16, representing a growth of 32.3%[137]. - The inventory balance rose to CNY 75,948,837.07 from CNY 45,222,729.17, marking an increase of 68.2%[138]. Production and Operations - The company is primarily engaged in the research, production, and sales of fine chemical products, including AC blowing agents and chlorinated sulfonic acid[26]. - The company is a major producer of AC foaming agents and thionyl chloride in China, holding a leading market share in both products[28]. - The annual production capacity is 70,000 tons for AC foaming agents, 35,000 tons for thionyl chloride, and 260,000 tons for caustic soda, with plans for expansion[36]. - The company has obtained 16 authorized national invention patents, including 12 for thionyl chloride and 4 for AC foaming agents, showcasing its strong R&D capabilities[28]. - Approximately 40% of the caustic soda produced is used for the preparation of sodium hypochlorite, which is then used to produce AC foaming agents[28]. - The company has established a complete circular economy industrial chain, utilizing by-products effectively to enhance production efficiency[35]. - The company is undertaking a technical transformation project to increase AC foaming agent production capacity to 80,000 tons per year by December 2017[46]. - The company plans to complete a new 70,000-ton ion membrane caustic soda project by the first quarter of 2018[47]. Research and Development - Research and development investment increased by 49.55% to 24.33 million yuan, driven by accelerated project progress[49]. - The company emphasizes technological innovation, having implemented several technical improvements to reduce energy consumption and enhance product quality[37]. Market and Competition - The company expects a net profit attributable to shareholders for the first three quarters of 2017 to be between RMB 120.31 million and RMB 155.69 million, a year-on-year increase of 70% to 120%[78]. - The increase in expected profit is primarily due to higher sales prices and gross margins for AC foaming agents and caustic soda products compared to the previous year[78]. - The main profit contributors are AC foaming agents, caustic soda, and thionyl chloride, with prices showing a downward trend due to intense competition in the market[80]. Environmental and Safety Compliance - The company has established strict safety production standards and management systems to minimize the risk of accidents during production[85]. - Jiangxi Shilong Industrial Co., Ltd. reported a total pollutant discharge of 30.2 tons for particulate matter, with an emission concentration of 22.2 mg/m³, below the standard of 30 mg/m³[108]. - The company emitted 186 tons of sulfur dioxide, with an emission concentration of 136.9 mg/m³, which is also below the regulatory limit of 200 mg/m³[108]. - Nitrogen oxides emissions totaled 168 tons, with a concentration of 123.7 mg/m³, again compliant with the 200 mg/m³ standard[108]. - The company has achieved a 100% operational rate for its environmental protection facilities and a 100% treatment rate for waste emissions in the first half of 2017[109]. - The company has established a comprehensive environmental management system, emphasizing the importance of pollution control in its operational strategy[109]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,086[121]. - The largest shareholder, Jiangxi Dalong Industrial Co., Ltd., holds 37.55% of the shares, totaling 90,115,000 shares[122]. - New World Fine Chemical Investment Co., Ltd. holds 15.14% of the shares, totaling 36,345,953 shares, with a decrease of 2,400,100 shares during the reporting period[122]. - The total number of shares outstanding remains at 240,000,000, with 34.00% being unrestricted shares after the recent changes[115]. Financial Reporting and Compliance - The financial report was approved by the board of directors on August 22, 2017[158]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[160]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its viability[161]. - The financial statements prepared by the company comply with the accounting standards and accurately reflect its financial position, operating results, and cash flows[163].

Financial Performance - The company's operating revenue for 2016 was CNY 1,000,825,200.30, representing a 14.40% increase compared to CNY 874,853,676.55 in 2015[16] - The net profit attributable to shareholders for 2016 was CNY 104,678,326.25, a significant increase of 183.51% from CNY 36,922,249.93 in 2015[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 103,538,922.73, up 167.44% from CNY 38,715,296.96 in the previous year[16] - The net cash flow from operating activities reached CNY 54,111,589.91, marking a 387.73% increase from CNY 11,094,558.23 in 2015[16] - The basic earnings per share for 2016 was CNY 0.4362, reflecting a 165.81% increase compared to CNY 0.1641 in 2015[16] - The total revenue for 2016 was CNY 990,561,708.89, representing a year-on-year increase of 15.64%[54] - The company achieved total operating revenue of 1,000,825,200.30 CNY, a year-on-year increase of 14.40%[41] - Net profit attributable to ordinary shareholders reached 10,467.83 CNY, reflecting a significant year-on-year growth of 183.51%[41] - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2016, representing a year-on-year increase of 10%[112] - The net profit for the year was 200 million RMB, an increase of 15% compared to the previous year[186] Assets and Investments - The total assets at the end of 2016 amounted to CNY 1,213,830,051.94, a 14.07% increase from CNY 1,064,109,405.45 at the end of 2015[17] - The net assets attributable to shareholders at the end of 2016 were CNY 1,043,127,450.49, which is a 10.22% increase from CNY 946,412,670.02 in 2015[17] - The company’s fixed assets decreased by 6.69% to CNY 522,641,952.57, while construction in progress increased by 4.34% to CNY 81,217,304.06[71] - The total investment amount for the reporting period was CNY 58,485,109.03, reflecting a 26.60% increase from the previous year[73] - The total committed investment for the annual production of 50,000 tons of AC foaming agent is CNY 219,458,800, with a cumulative investment of CNY 180,966,379.76 as of December 31, 2016, achieving 82.46% of the planned investment progress[82] - The total committed investment for the annual production of 50,000 tons of thionyl chloride is CNY 78,817,200, with a cumulative investment of CNY 16,335,925.84 as of December 31, 2016, achieving 20.73% of the planned investment progress[82] Market and Production - The company holds a market share ranking of second in both AC blowing agent and thionyl chloride production in China[27] - The annual production capacity for AC blowing agent is 70,000 tons, thionyl chloride is 35,000 tons, and caustic soda is 260,000 tons, with plans for expansion[31] - Sales volume of AC foaming agent increased by 14.61% compared to the previous year, with sales prices rising by 13.12%[41] - The production volume of caustic soda decreased by 22.58% to 53,330 tons in 2016[55] - The sales volume of AC foaming agent increased by 14.61% to 61,341 tons in 2016, while production volume rose by 15.45% to 61,234 tons[55] Research and Development - Research and development expenditure for 2016 was CNY 40,340,668.59, a 41.74% increase from CNY 28,460,652.03 in 2015, accounting for 4.03% of total revenue[63] - The company is focusing on R&D for diversified AC foaming agent products and downstream products of chlorosulfonic acid[46] - The company has obtained 16 authorized national invention patents, with 12 related to thionyl chloride and 4 to AC blowing agents[27] - The company plans to enhance operational efficiency, aiming for a 5% reduction in production costs by implementing new technologies[199] - The company has allocated 50 million RMB for research and development in new technologies for the upcoming fiscal year[186] Dividends and Shareholder Commitments - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, based on a total of 240,000,000 shares[5] - The company will implement a cash dividend distribution plan, distributing 1.5 yuan per 10 shares, totaling 36 million yuan, which represents 100% of the profit distribution[105] - The company has not proposed any cash dividend distribution for the year 2016 despite having a positive profit available for distribution[104] - The company has committed to not engaging in any business that competes with its main operations during the commitment period, ensuring no direct or indirect competition[119] - The company will compensate for any losses incurred by the issuer due to non-compliance with commitments, ensuring financial accountability[121] Environmental and Safety Initiatives - The company has invested significantly in pollution reduction projects, including ammonia recovery and flue gas desulfurization, to enhance its environmental management[150] - The company maintained a 100% operational rate for its environmental protection facilities and achieved a 100% treatment rate for waste emissions[151] - The company aims to achieve a zero accident rate for major incidents and strives for zero general production accidents, with a target of keeping the annual injury rate below 2.7‰[94] - The company has committed to further investment in environmental protection facilities due to the implementation of new pollution discharge standards[82] - The management team emphasized a commitment to sustainability, with initiatives projected to reduce carbon emissions by 20% over the next five years[200] Strategic Outlook - The company provided a future outlook projecting a revenue growth of 12% for the next fiscal year, aiming for 1.68 billion RMB[114] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2018[112] - Future guidance suggests a revenue target of 1.8 billion RMB for the next fiscal year, reflecting a growth rate of 20%[186] - The company is exploring partnerships with international firms to enhance its technological capabilities and market reach[186] - The company plans to implement cost-cutting measures aimed at reducing operational costs by 8% in the upcoming year[115] Shareholder Structure and Governance - The largest shareholder, Jiangxi Dalong Industrial Co., Ltd., holds 37.55% of the shares, totaling 90,115,000 shares, with an increase of 45,057,500 shares during the reporting period[166] - The company has a total of 90 million shares with 27,742,500 shares released from restrictions during the reporting period[162] - The company has no actual controller due to the dispersed shareholding of its indirect controlling shareholder, Jiangxi Electric Chemical High-tech Co., Ltd.[169] - The company reported no changes in its controlling shareholder during the reporting period[168] - The company has strengthened its investor relations management, ensuring fair and timely information disclosure to all investors[148]