山西永东化工股份有限公司 2020 年第一季度报告全文 山西永东化工股份有限公司 2020 年第一季度报告 山西永东化工股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人刘东杰、主管会计工作负责人陈梦喜及会计机构负责人(会计主 管人员)蔡靖泽声明：保证季度报告中财务报表的真实、准确、完整。 2 2020-035 2020 年 04 月 1 山西永东化工股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 454,470,540.08 | 644,560,587.24 | -29.49% | | 归属于上市公司股东的净利润（元） | 17,777,709.14 ...

Financial Performance - The company's operating revenue for 2019 was CNY 2,856,035,738.51, representing a 10.40% increase compared to CNY 2,587,091,753.06 in 2018[18]. - The net profit attributable to shareholders decreased by 67.24% to CNY 91,035,991.73 from CNY 277,883,148.41 in the previous year[18]. - The net cash flow from operating activities was negative at CNY -36,033,789.28, a decline of 117.41% compared to CNY 206,933,110.97 in 2018[18]. - Basic earnings per share fell by 68.25% to CNY 0.2648 from CNY 0.8341 in 2018[18]. - Total assets increased by 19.75% to CNY 2,388,175,628.55 at the end of 2019, up from CNY 1,994,336,611.66 at the end of 2018[18]. - Total revenue for the year was approximately ¥2.86 billion, with quarterly revenues of ¥644.56 million, ¥791.34 million, ¥697.24 million, and ¥722.89 million respectively[23]. - Net profit attributable to shareholders for the year was approximately ¥91.03 million, with quarterly net profits of ¥22.12 million, ¥31.35 million, ¥14.59 million, and ¥22.97 million respectively[23]. - The net cash flow from operating activities showed a significant improvement, with a positive cash flow of ¥35.66 million in Q4 after negative cash flows in the first three quarters[23]. - The company achieved an operating revenue of CNY 2,856,035,738.51 in 2019, representing a year-on-year growth of 10.40%, while the net profit attributable to shareholders decreased by 67.24% to CNY 91,035,991.73[42]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.4 per 10 shares (including tax) to all shareholders[6]. - The cash dividend for 2018 was RMB 2.5 per 10 shares, amounting to RMB 83,332,313.75, which represented 29.99% of the net profit attributable to shareholders[94]. - The total distributable profit for 2019 is RMB 91,035,991.73, with the cash dividend accounting for 17.67% of this amount[95]. - The company has maintained a consistent cash dividend policy over the past three years, with the 2017 dividend being RMB 1.61 per 10 shares, totaling RMB 35,754,365.28[94]. - The company has not proposed any stock dividends for the 2019 fiscal year, focusing solely on cash dividends[95]. Risks and Challenges - The company faces risks related to raw material price fluctuations, market demand, and environmental regulations that could impact future profitability[5][6]. - Future performance may be affected by macroeconomic conditions and the operational rates of downstream tire manufacturers[5]. - The carbon black industry is experiencing a slowdown in growth due to macroeconomic policies and increased competition, with domestic demand shrinking[33]. - The company faces risks related to fluctuations in raw material prices, which could significantly impact future operating efficiency[85]. - The company is also exposed to market risks for carbon black prices, influenced by macroeconomic conditions and downstream demand[85]. - The company relies on stable supply and pricing of coke oven gas from its suppliers, which poses a risk if supply stability is compromised[85]. Research and Development - The company holds 29 patents, including 13 invention patents and 16 utility model patents, showcasing its technological advancements[36]. - The company’s research and development expenses increased by 42.91% to ¥40,413,985.99 in 2019, primarily due to rising material and labor costs[56]. - R&D personnel increased to 99, up 8.79% from 91 in 2018, while R&D expenditure rose to ¥87,659,001.60, a 5.36% increase[61]. - The company plans to strengthen technology cooperation and enhance its core technological competitiveness through partnerships with research institutions and universities[59]. - The company aims to enhance its technological innovation strategy by introducing advanced technologies and accelerating the construction of provincial-level technology centers[83]. Environmental Compliance - The company emphasizes compliance with environmental protection standards, which may increase future costs and impact profitability[90]. - The company has committed to continuous investment in environmental protection facilities to improve operational quality and management standards[130]. - The company has established an online monitoring system for emissions, ensuring real-time compliance with environmental standards[133]. - The wastewater treatment facility utilizes the A2O + contact oxidation process, with all treated wastewater reused within the production process, resulting in zero external discharge[130]. - The company conducted regular emergency drills for environmental incidents, enhancing staff preparedness for potential environmental risks[132]. Corporate Governance - The company has established measures to reduce and standardize related party transactions to protect shareholder interests[99]. - The company has a complete governance structure, including a shareholders' meeting, board of directors, and supervisory board, functioning independently from shareholders[197]. - The company has an independent financial accounting department and internal audit department, with a separate financial management system from its controlling shareholders[198]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[100]. - The company ensures compliance with governance regulations, maintaining a transparent decision-making process and protecting the rights of minority shareholders[185]. Market Position and Strategy - The company aims to expand its market presence by leveraging its technological advancements in coal tar processing and carbon black production[31]. - The company is focused on enhancing its internal control systems and improving operational efficiency to ensure sustainable and stable development[44]. - The company is actively promoting the establishment of industry standards for conductive carbon black, addressing the lack of existing regulations[36]. - The company aims to extend its product line into high-end carbon black and fine chemical products, enhancing its market position[33]. - The company plans to focus on the global carbon black market trends and aims to extend the coal tar deep processing industry chain, emphasizing high-quality carbon black products and fine processing products[82]. Shareholder Structure - The total number of shareholders at the end of the reporting period was 14,776, an increase from 12,565 at the end of the previous month[149]. - Liu Dongliang holds 25.84% of shares, amounting to 24,257,813 shares, with a pledge status[150]. - Liu Dongjie owns 16.86% of shares, totaling 15,820,313 shares, also under pledge[150]. - The top ten shareholders include family members, indicating a close-knit ownership structure[151]. - The company did not experience any changes in its controlling shareholder during the reporting period[152].

Financial Performance - Operating revenue for the reporting period was ¥697,244,145.49, representing a year-on-year increase of 12.31%[7] - Net profit attributable to shareholders decreased by 76.03% to ¥14,591,057.01 for the reporting period[7] - Basic earnings per share fell by 76.01% to ¥0.0438, while diluted earnings per share decreased by 76.58% to ¥0.0407[7] - The company reported a net profit of CNY 781,080,957.63, down from CNY 796,212,191.56, reflecting a decrease of about 1.5%[36] - Net profit for the current period was ¥14,591,057.01, a decrease of 76.0% from ¥60,860,568.89 in the previous period[39] - Total profit for the period was ¥80,102,241.15, down 70.3% from ¥269,165,316.15 in the previous year[47] - The company reported a total profit of ¥17,173,837.70, down 76.0% from ¥71,610,192.47 in the previous period[39] - The company’s total comprehensive income for the current period was ¥14,443,643.06, down from ¥61,822,317.45 in the previous period[40] - The total comprehensive income for the period was ¥68,426,541.94, a decrease of 70.4% from ¥231,009,728.50 in the previous year[48] Cash Flow - The net cash flow from operating activities was ¥23,789,913.24, down 75.21% compared to the same period last year[7] - Net cash flow from operating activities dropped by 144.92% to -¥71,696,214.85 from ¥159,602,379.50, due to increased capital occupation and profit decline[15] - The cash inflow from sales of goods and services reached ¥1,001,998,306.47, an increase from ¥785,664,888.67 in the previous period, representing a growth of approximately 27.5%[58] - Total cash outflow from operating activities amounted to ¥1,079,641,875.82, up from ¥629,361,382.90, indicating a rise of about 71.5%[56] - The company reported a total cash outflow of ¥117,269,696.34, compared to -¥13,089,772.10 in the prior period, indicating a significant cash drain[56] - The net cash flow from investment activities was -¥40,805,301.58, worsening from -¥163,566,936.36 in the previous period[56] - The net cash flow from financing activities was -¥4,763,673.33, an improvement from -¥9,126,830.77 in the prior period[60] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,083,503,942.35, an increase of 4.47% compared to the end of the previous year[7] - Current liabilities rose to CNY 326,188,808.84, compared to CNY 237,738,394.84, marking an increase of about 37.2%[30] - Non-current liabilities increased to CNY 298,344,196.56 from CNY 283,808,039.18, reflecting a growth of approximately 5.1%[30] - The company's total liabilities reached CNY 624,533,005.40, up from CNY 521,546,434.02, indicating an increase of around 19.7%[30] - Owner's equity totaled CNY 1,458,970,936.95, a slight decrease from CNY 1,472,790,177.64, showing a decline of about 0.9%[31] - Total liabilities amounted to 521,538,183.43, with total equity at 1,472,956,603.15, resulting in total assets of 1,994,494,786.58[70] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,312[11] - Liu Dongliang and Liu Dongjie are the largest shareholders, holding 29.11% and 18.98% of shares respectively[11] - The company did not engage in any repurchase transactions during the reporting period[12] Expenses and Costs - Total operating costs increased to ¥687,080,861.21, up 25.5% from ¥546,990,986.48 in the previous period[38] - Research and development expenses rose to ¥11,878,669.35, a significant increase of 83.5% compared to ¥6,477,801.97 in the previous period[38] - Financial expenses increased by 160.38% to ¥16,943,412.81 from ¥6,507,163.02, mainly due to rising interest costs[15] - The company incurred credit impairment losses of ¥4,503,490.82, which were not present in the previous period[39] Inventory and Receivables - Cash and cash equivalents decreased by 62.01% to ¥62,433,473.20 from ¥164,353,169.54, primarily due to increased inventory and settlement fund occupation[15] - Inventory rose to CNY 298,124,336.68, compared to CNY 247,067,669.30, indicating an increase of approximately 20.7%[33] - Accounts receivable increased to CNY 427,399,833.69 from CNY 371,891,877.30, representing a growth of about 14.9%[33] Regulatory and Compliance - The company approved the extension of the validity period for the non-public issuance of shares by 12 months, extending it to September 17, 2020[16] - The company has not undergone an audit for the third quarter report[72] - The new financial instrument standards were implemented starting January 1, 2019, requiring adjustments to previous accounting policies[71]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,435,901,984.70, representing a 13.96% increase compared to ¥1,259,958,820.72 in the same period last year[17]. - The net profit attributable to shareholders was ¥53,475,699.46, a decrease of 68.15% from ¥167,914,781.05 in the previous year[17]. - Basic earnings per share decreased by 68.18% to ¥0.1604 from ¥0.5041 in the previous year[17]. - The total operating revenue for the first half of 2019 was CNY 1,435,901,984.70, an increase of 13.94% compared to CNY 1,259,958,820.72 in the same period of 2018[146]. - The total comprehensive income for the first half of 2019 was CNY 53,982,898.88, a decrease of 68.16% from CNY 169,187,411.05 in the same period of 2018[148]. - The total profit for the first half of 2019 was CNY 63,018,026.57, down 68.16% from CNY 197,602,284.21 in the same period last year[152]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥95,486,128.09, a decline of 250.06% compared to ¥63,630,937.11 in the same period last year[17]. - The company's cash and cash equivalents decreased to ¥89,691,148.83, down 4.47% from ¥167,867,658.05 in the same period last year[51]. - The company's operating cash flow for the first half of 2019 was negative at CNY -95,486,128.09, compared to a positive cash flow of CNY 63,630,937.11 in the same period of 2018[156]. - Total cash inflow from operating activities was 698,978,352.09 CNY, while cash outflow was 794,451,168.85 CNY, resulting in a net cash outflow of 95,472,816.76 CNY[159]. - The ending balance of cash and cash equivalents decreased to 47,266,290.99 CNY from 147,017,429.44 CNY year-over-year[160]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,059,957,221.29, an increase of 3.29% from ¥1,994,336,611.66 at the end of the previous year[17]. - The total liabilities increased to CNY 616,287,316.49 in the first half of 2019, up 18.14% from CNY 521,538,183.43 in the same period of 2018[143]. - The company's total current assets as of June 30, 2019, amounted to RMB 1,128,562,407.90, up from RMB 1,051,400,417.20 at the end of 2018, representing a growth of approximately 7.34%[136]. - The company's total liabilities increased to RMB 616,287,316.49 from RMB 521,546,434.02, indicating a rise of about 18.14%[139]. Research and Development - The company has developed 26 patents, including 13 invention patents and 13 utility model patents, showcasing its commitment to technological innovation[33]. - Research and development expenses for the first half of 2019 were CNY 19,894,802.53, which is an increase of 59.96% compared to CNY 12,479,867.40 in the first half of 2018[147]. - The company aims to leverage its technological advancements to expand into fine chemical sectors, enhancing profitability and product quality stability[32]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[90]. - The company has implemented various environmental protection measures, including dust removal systems and wastewater treatment facilities, to ensure compliance with pollution discharge standards[92][94]. - The company has established an emergency response plan for environmental incidents, which has been reviewed and filed with the local environmental authority[95]. Market and Product Development - The main business involves the processing of coal tar and the production and sale of carbon black, which is a key product for various industries[24]. - The company has established strong partnerships with well-known tire manufacturers, enhancing its brand recognition and market position[36]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational capabilities[166]. Financial Management - The company has committed to a project for deep processing of coal tar and production of carbon black, with total fundraising of ¥32,805.28 million, of which ¥1,895.57 million was invested during the reporting period[57]. - The company has received approval for a non-public stock issuance to fund projects aimed at expanding its coal tar deep processing capabilities[40]. - The company has not made any significant asset or equity sales during the reporting period[64][65]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 15,161[106]. - Major shareholders include Liu Dongliang with 29.11% and Liu Dongjie with 18.98% of the shares[106]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[71].

股票简称：永东股份 股票代码：002753 编号：2019-032 债券简称：永东转债 债券代码：128014 山西永东化工股份有限公司 关于参加"山西辖区上市公司 2019 年度投资者网上 集体接待日"活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 山西永东化工股份有限公司（以下简称"公司"）为便于广大投资者更深 入全面了解公司情况，公司定于 2019 年 5 月 23 日（星期四）14:30—16:30 参 加中国证券监督管理委员会山西证监局、山西省上市公司协会、上证所信息网 络有限公司、深圳市全景网络有限公司联合举办的"山西辖区上市公司 2019 年 度投资者网上集体接待日"活动,现将有关事项公告如下： 本次年度投资者网上集体接待日活动将采取网络远程的方式举行，投资者 可以登录"全景·路演天下（http://rs.p5w.net/）或关注微信公众号：全景 财经参与交流。 公司出席本次说明会的人员有：公司董事、董事会秘书、副总经理张巍女 士；财务总监陈梦喜先生。 欢迎广大投资者积极参与。 特此公告。 山西永东化工股份有限公司 董事会 二〇一九年 ...

山西永东化工股份有限公司 2019 年第一季度报告全文 山西永东化工股份有限公司 2019 年第一季度报告 2019 年 04 月 1 山西永东化工股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人刘东杰、主管会计工作负责人陈梦喜及会计机构负责人(会计主 管人员)蔡靖泽声明：保证季度报告中财务报表的真实、准确、完整。 2 山西永东化工股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 644,560,587.24 | 597,465,243.90 | 7.88% | | 归属于上市公司股东的净利润（元） | 22,122,768.30 | 80,481,6 ...

Financial Performance - The company's operating revenue for 2018 was CNY 2,587,091,753.06, representing a 30.31% increase compared to CNY 1,985,337,878.21 in 2017[18]. - The net profit attributable to shareholders for 2018 was CNY 277,883,148.41, which is a 17.25% increase from CNY 237,002,014.41 in the previous year[18]. - The basic earnings per share for 2018 was CNY 0.8341, up 17.23% from CNY 0.7115 in 2017[18]. - Total assets at the end of 2018 reached CNY 1,994,336,611.66, a 13.82% increase from CNY 1,752,240,294.36 at the end of 2017[19]. - The net assets attributable to shareholders increased by 20.35% to CNY 1,472,790,177.64 from CNY 1,223,752,512.95 in 2017[19]. - Total revenue for the year was approximately ¥2.586 billion, with a quarterly breakdown of ¥597.47 million in Q1, ¥662.49 million in Q2, ¥620.80 million in Q3, and ¥706.33 million in Q4[23]. - Net profit attributable to shareholders for the year was approximately ¥277.88 million, with quarterly figures of ¥80.48 million in Q1, ¥87.43 million in Q2, ¥60.86 million in Q3, and ¥49.11 million in Q4[23]. - The company reported a significant increase in fixed assets by ¥245,947,660.68, primarily due to the completion of the carbon black production lines and coal chemical projects[34]. - The company’s gross profit margin for the chemical raw materials and chemical products manufacturing industry was 21.35%, a decrease of 2.42% from the previous year[49]. - The company’s inventory of carbon black products increased by 40.23% to 17,935 tons, attributed to increased production capacity[51]. Cash Flow and Dividends - The net cash flow from operating activities improved significantly to CNY 206,933,110.97, compared to a negative cash flow of CNY 8,045,798.08 in 2017, marking a change of -2,671.94%[18]. - The company plans to distribute a cash dividend of CNY 2.50 per 10 shares (including tax) for the 2018 fiscal year[6]. - The cash dividend for 2018 represents 32.23% of the net profit attributable to shareholders, which is RMB 277,883,148.41[91]. - The total cash dividends distributed over the last three years were RMB 11,992,050.00 in 2016, RMB 35,754,365.28 in 2017, and a proposed RMB 89,560,447.50 in 2018[91]. Market and Operational Risks - The company faces risks related to market fluctuations, supply stability of coke oven gas, and environmental regulations, which could impact future profitability[5][6]. - The company relies on coke oven gas from its subsidiary, which poses a risk if supply or pricing changes significantly[6]. - The company has faced market risks due to macroeconomic policies affecting the carbon black industry, leading to a slowdown in growth despite achieving revenue and profit increases[83]. - Environmental protection costs are expected to rise due to stricter national standards, potentially impacting future profitability[84]. - The company has implemented a comprehensive safety management system to mitigate operational risks associated with flammable raw materials and high-temperature processes[84]. Research and Development - The main business focus is on coal tar processing and carbon black production, with carbon black being a key product used in various industries including automotive and electronics[28]. - The company is actively developing new technologies and products in coal tar processing, aiming to enhance market competitiveness and expand applications[31]. - The company has achieved significant advancements in coal tar processing technology, improving efficiency and product quality through research and development[31]. - Total R&D investment reached ¥83,200,877.46 in 2018, a 25.94% increase from ¥66,064,136.96 in 2017[59]. - R&D expenses grew by 29.24% to ¥28,279,620.45 in 2018, reflecting higher investment in research and development[58]. Environmental Responsibility - The company has emphasized its commitment to pollution prevention and clean production, aligning with increasing environmental standards[6]. - The company has implemented an A2O + contact oxidation process for wastewater treatment, ensuring that all treated wastewater is reused within the production process[134]. - The company has established a real-time monitoring system for emissions, ensuring compliance with environmental standards[134]. - The company has committed to continuous investment in environmental protection facilities, including dust removal and wastewater treatment systems[134]. - The company reported a total emission of sulfur dioxide at 26.328 tons, which is below the regulatory limit of 351.19 tons[133]. - Nitrogen oxides emissions were recorded at 154.417 tons, significantly lower than the allowable limit of 1152.85 tons[133]. Corporate Governance - The company has established a sound corporate governance structure to reduce related party transactions and ensure compliance with legal regulations[100]. - The company has a total of 5 independent directors, contributing to its governance structure[167]. - The board of directors includes members with extensive backgrounds in tax administration and investment management, enhancing the company's governance[167]. - The company has implemented measures to avoid conflicts of interest and ensure that major shareholders do not engage in competitive businesses[100]. - The company emphasizes the importance of independent directors in protecting the interests of the company and minority shareholders[100]. Shareholder Relations - The company emphasizes the importance of investor relations and compliance with information disclosure obligations to ensure transparency and accuracy[83]. - The company has established effective communication channels with shareholders to ensure their rights to information and participation in major decisions[182]. - The company will hold investor meetings to discuss operational status and financial indicators if the stock price falls below 120% of net asset value for 5 consecutive trading days[97]. Employee Management - The total number of employees in the company is 705, with 515 in production, 28 in sales, 99 in technical roles, 9 in finance, 48 in administration, and 6 in other categories[176]. - The company emphasizes employee training, implementing a comprehensive training system that includes onboarding, job-specific training, management enhancement, legal training, safety training, and team-building activities[178]. - The company has established a performance evaluation system for all employees, conducting monthly assessments to create a complete performance evaluation standard and incentive mechanism[186].

Financial Performance - Operating revenue for the current period reached CNY 620,799,962.02, a 29.39% increase year-on-year[8] - Net profit attributable to shareholders for the current period was CNY 60,860,568.89, reflecting a 35.50% increase year-on-year[8] - Net profit after deducting non-recurring gains and losses was CNY 65,142,473.42, up 45.50% year-on-year[8] - Basic earnings per share increased by 35.36% to CNY 0.1826[8] - The weighted average return on equity was 4.27%, an increase of 0.29% compared to the previous year[8] - The company's operating revenue for the reporting period was ¥1,880,758,782.74, representing a 40.73% increase compared to ¥1,336,454,132.35 in the previous year[16] - The net profit attributable to shareholders for 2018 is expected to be between ¥280,000,000 and ¥330,000,000, reflecting a growth of 19.47% to 40.81% compared to ¥234,359,100 in 2017[23] Asset and Liability Changes - Total assets increased by 17.17% to CNY 2,053,062,147.26 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 16.32% to CNY 1,423,425,966.80 compared to the end of the previous year[8] - The company's short-term borrowings increased by 50% to ¥120,000,000 due to expanded business scale and liquidity needs[16] - The total prepayments rose by 146.18% to ¥69,121,269.54, primarily due to prepayments for raw oil[16] - The company reported a significant increase in other receivables, which surged by 8738.73% to ¥134,917,343.68, mainly due to payments for purchasing shares in a rural commercial bank[16] Cash Flow - The net cash flow from operating activities was CNY 95,971,442.39, a significant decrease of 663.04% year-on-year[8] - The cash flow from operating activities showed a net outflow of ¥159,602,379.50, a significant change from the previous year's outflow of ¥22,215,877.16[16] Shareholder Information - The top ten shareholders hold a combined 68.86% of the company's shares, with the largest shareholder holding 29.11%[12] Non-Recurring Items - The company reported non-recurring losses totaling CNY 8,228,183.88 for the year-to-date period[9] Management and Investment Activities - The company has engaged in non-public stock issuance, with relevant proposals approved during the shareholder meeting on September 18, 2018[19] - The company is in the process of acquiring a 9% stake in Shanxi Jishan Rural Commercial Bank, with a share transfer agreement already signed[20] - The company’s management expenses increased by 43.54% to ¥31,175,147.15, attributed to rising repair and administrative costs[16] - The company has invested a total of ¥24,500,000 in financial products using idle raised funds, with no overdue amounts reported[27]

山西永东化工股份有限公司 2018 年半年度报告全文 山西永东化工股份有限公司 2018 年半年度报告 2018 年 08 月 1 山西永东化工股份有限公司 2018 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人刘东杰、主管会计工作负责人陈梦喜及会计机构负责人(会计主 管人员)蔡靖泽声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本半年度报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承 诺，请投资者注意投资风险。 公司在本报告第四节"经营情况讨论与分析"中"十、公司面临的风险和应对 措施"部分，描述了公司经营中可能面对的风险，敬请投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介和主要财务指标 5 | | 第三节 公司业务概要 8 | | 第四节 经营情况讨论与分析 12 | | ...

Financial Performance - The company's operating revenue for 2017 was ¥1,985,337,878.21, representing an increase of 81.10% compared to ¥1,096,262,401.58 in 2016[22]. - The net profit attributable to shareholders for 2017 was ¥237,002,014.41, a significant increase of 199.21% from ¥79,209,001.27 in 2016[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥234,133,055.73, up 168.95% from ¥87,054,489.85 in 2016[22]. - The basic earnings per share for 2017 was ¥1.0672, reflecting a growth of 199.19% compared to ¥0.3567 in 2016[22]. - The total assets at the end of 2017 were ¥1,752,240,294.36, an increase of 62.52% from ¥1,078,178,583.45 at the end of 2016[23]. - The net assets attributable to shareholders at the end of 2017 were ¥1,223,752,512.95, up 33.45% from ¥917,015,786.73 at the end of 2016[23]. - The company reported a negative net cash flow from operating activities of ¥8,045,798.08 in 2017, a decline of 123.22% compared to ¥34,654,139.81 in 2016[22]. - The weighted average return on equity for 2017 was 21.73%, an increase of 12.88% from 8.85% in 2016[22]. - In 2017, the company achieved a record revenue of CNY 1.985 billion, representing an 81.10% increase year-over-year[49]. - The net profit attributable to shareholders reached CNY 237 million, marking a significant growth of 199.21% compared to the previous year[49]. Dividend Distribution - The company plans to distribute a cash dividend of 1.61 CNY per 10 shares (including tax) and to increase capital by 5 shares for every 10 shares held[9]. - The cash dividend for 2016 was 0.81 RMB per 10 shares, amounting to 11,992,050 RMB, which represented 15.14% of the net profit attributable to shareholders[102]. - In 2015, the cash dividend was 1.8 RMB per 10 shares, totaling 17,766,000 RMB, which was 33.82% of the net profit attributable to shareholders[102]. - The total distributable profit available for the cash dividend is 581,721,533.24 RMB[101]. - The company has maintained a consistent cash dividend distribution strategy over the past three years[102]. Production and Operations - The company engaged in the production and sales of coal tar processing and carbon black products, with carbon black being the main product[32]. - The company is focused on enhancing its production technology to compete in the high-end carbon black market[6]. - The company plans to enhance its production processes and expand its market presence in the carbon black industry, which is crucial for various sectors including automotive and electronics[32]. - The company has established a complete industrial chain from coal tar processing to carbon black manufacturing and tail gas power generation, enhancing resource and energy utilization[41]. - The company’s proprietary technology for producing coal tar-based conductive carbon black has reached an internationally advanced level, breaking the foreign monopoly in this sector[44]. - The company’s production processes are closely integrated, effectively reducing operational costs and ensuring stable production through its self-owned power plant[43]. - The company completed the construction of a 120,000 tons/year carbon black and 18,000 KW gas power generation project, enhancing its effective production capacity[50]. - The sales volume of carbon black products increased by 20.63% to 246,853.91 tons in 2017, while production volume rose by 22.52%[58]. - The gross margin for carbon black products improved to 28.65%, up from 26.64% in the previous year, despite rising raw material costs[57]. Market and Competition - The overall carbon black industry in China has experienced rapid growth in production and sales, leading to increased competition risks[6]. - The company acknowledges the risks associated with market competition and the need for continuous improvement in production processes[6]. - The carbon black industry has experienced a general improvement in performance since 2017, driven by favorable macroeconomic policies and increased demand from tire manufacturers[40]. - The company has received widespread recognition in the conductive carbon black market, achieving a competitive edge in product quality and cost[46]. - The domestic market accounted for 84.44% of total revenue, while international sales contributed 15.56%, with a year-over-year growth of 65.63%[55]. Environmental and Regulatory Compliance - Environmental protection costs are expected to rise due to stricter national standards, potentially affecting future profitability[8]. - The company is committed to environmental protection and clean production, but rising environmental standards may increase operational costs[93]. - The company reported a penalty of RMB 1 million for exceeding nitrogen oxide emission standards, with a requirement to rectify the violation within 90 days[129]. - The company has made significant investments in environmental protection facilities, including dust removal bag filters and flue gas desulfurization and denitrification devices[152]. - The company has established a real-time monitoring system for emissions, ensuring compliance with pollution discharge standards[152]. - The company has reported that nitrogen oxide emissions have been brought into compliance with standards following targeted corrective actions[154]. Research and Development - Research and development (R&D) investment increased by 71.79% to ¥66,064,136.96, which is 3.33% of operating revenue[67]. - The company holds a total of 25 patents, reflecting its commitment to innovation and technology development[67]. - The number of R&D personnel remained stable at 97, but their proportion of total employees decreased from 17.90% to 16.90%[67]. - The company is committed to continuous technological innovation and has developed high-purity carbon black products through advanced processing techniques[44]. Corporate Governance - The company has established a sound corporate governance structure with 3 independent directors to enhance independence and governance mechanisms[117]. - The company emphasizes the importance of independent directors in avoiding competition and regulating related party transactions[117]. - The actual controller of the company complies with relevant laws and regulations, ensuring no interference in the company's decision-making processes[193]. - The board of directors strictly followed relevant laws and regulations, ensuring compliance in decision-making processes[194]. - The supervisory board consists of 3 members, including 1 employee representative, adhering to legal requirements[195]. Shareholder and Management Structure - The largest shareholder, Liu Dongliang, holds 29.13% of the shares, amounting to 64,687,500 shares[169]. - The second largest shareholder, Liu Dongjie, owns 19.00% of the shares, totaling 42,187,500 shares[169]. - The third largest shareholder, Shenzhen Dongfang Fuhai Investment Management Co., Ltd., holds 12.16% of the shares, which is 26,999,900 shares[169]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 2.1462 million[185]. - The company employed a total of 574 staff, with 394 in production, 28 in sales, 97 in technical roles, 9 in finance, and 46 in administration[186][187]. Social Responsibility - The company emphasizes its commitment to social responsibility, providing a safe working environment and quality products and services to customers[149]. - The company has actively engaged in charitable and social welfare activities, aiming to fulfill its corporate social responsibilities[149]. - The company has not yet initiated targeted poverty alleviation efforts and has no plans for such initiatives in the near future[150].