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]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥1,259,958,820.72, representing a 47.08% increase compared to ¥856,660,015.18 in the same period last year[17]. - The net profit attributable to shareholders was ¥167,914,781.05, a 76.20% increase from ¥95,299,800.34 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was ¥171,861,060.40, up 78.84% from ¥96,097,833.03 in the previous year[17]. - The net cash flow from operating activities was ¥63,630,937.11, a significant improvement from a negative cash flow of ¥5,170,553.69 in the same period last year, marking a 1,330.64% increase[17]. - The total assets at the end of the reporting period were ¥1,902,717,687.50, an 8.59% increase from ¥1,752,240,294.36 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 11.01% to ¥1,358,429,952.73 from ¥1,223,752,512.95 at the end of the previous year[17]. - The basic earnings per share rose to ¥0.5041, a 76.20% increase compared to ¥0.2861 in the same period last year[17]. - The diluted earnings per share increased by 69.49% to ¥0.4766 from ¥0.2812 year-on-year[17]. Business Operations - The main business focus remains on the production and sales of coal tar processing and carbon black products, with carbon black being the primary product[25]. - The company has established a circular economy industrial chain, integrating coal tar processing, carbon black manufacturing, and tail gas power generation[34]. - The company’s carbon black products are categorized into rubber carbon black, conductive carbon black, and pigment carbon black, each serving distinct industrial applications[28]. - Conductive carbon black produced by the company is primarily used in power cable shielding materials, enhancing the electrical properties of plastics and rubbers[29]. - The company’s carbon black production utilizes wet granulation technology, resulting in lower dust content and improved particle strength during transportation[27]. - The company has achieved significant advancements in coal tar processing technology, enhancing the efficiency of resource utilization and product stability[30]. - The company’s core competitive advantages include production organization efficiency, cost advantages, and a stable supply of raw materials for carbon black production[35]. - The company is focused on developing high-value chemical products from coal tar, contributing to its profitability and expansion into fine chemical sectors[34]. Investment and Capital Expenditure - The company is implementing a project funded by RMB 340 million to produce 300,000 tons of coal tar deep processing and 80,000 tons of carbon black, which will significantly enhance production capacity[45]. - The company has increased its intangible assets by ¥7,686,733.77, primarily due to land purchases[33]. - The construction in progress has risen by ¥81,905,242.45, mainly attributed to the construction projects for carbon black production lines and coal chemical facilities[33]. Cash Flow and Financial Position - The company reported a net cash flow from investment activities of ¥56,971,441.36, a recovery from a negative cash flow of ¥295,242,702.03 in the same period last year, indicating a -119.30% change[50]. - The total cash inflow from investment activities was ¥159,231,011.29, compared to ¥25,109,315.07 in the previous year, indicating a strong recovery in investment cash flow[165]. - The net cash flow from financing activities was -¥79,510,980.82, a decline from a positive cash flow of ¥373,977,933.43 in the first half of 2017, primarily due to increased debt repayments[165]. - The total cash and cash equivalents at the end of the period stood at ¥147,583,208.05, down from ¥194,531,222.69 at the end of the previous year[165]. - The company received ¥150,000,000.00 from investment recoveries, a significant increase from ¥25,000,000.00 in the prior year[168]. - The cash outflow for purchasing fixed assets and intangible assets was ¥99,931,519.93, compared to ¥49,852,017.10 in the same period last year, reflecting increased capital expenditures[168]. Shareholder Information - The company does not plan to distribute cash dividends or issue bonus shares for this period[6]. - The company’s shareholders approved the 2017 profit distribution plan during the board meeting on April 23, 2018, and the annual general meeting on May 22, 2018[110]. - The total number of shares increased from 222,076,572 to 333,121,568 after the rights issue and bonus shares distribution[111]. - The company’s major shareholders had their limited shares released on May 19, 2018, with specific individuals holding significant amounts of shares[113]. - The total number of common shareholders at the end of the reporting period is 17,146[116]. Compliance and Governance - The company has maintained a strong focus on environmental protection, ensuring compliance with national regulations and enhancing the quality of its environmental management systems[47]. - The company has fulfilled all commitments made by actual controllers and shareholders during the reporting period[79]. - The company has no major litigation or arbitration matters during the reporting period[83]. - The company has no significant related party transactions during the reporting period[89]. - The company’s semi-annual financial report has not been audited[82]. Risks and Challenges - The company faces market competition risks due to increased competition in the carbon black industry, which may affect its market competitiveness[73]. - The company relies on local suppliers for coal tar, and any fluctuations in supply or price could significantly impact its production costs and profit margins[74].

山西永东化工股份有限公司 2018 年第一季度报告正文 证券代码：002753 证券简称：永东股份 公告编号：2018-028 山西永东化工股份有限公司 2018 年第一季度报告正文 1 山西永东化工股份有限公司 2018 年第一季度报告正文 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。 山西永东化工股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 597,465,243.90 | 385,259,460.60 | 55.08% | | 归属于上市公司股东的净利润（元） | 80,481,659.44 | 39,116,638.33 | 105.75% | | 归属于上市公司股东的扣除非经常性损 益的净 ...

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].

山西永东化工股份有限公司 2017 年第三季度报告正文 证券代码：002753 证券简称：永东股份 公告编号：2017-081 山西永东化工股份有限公司 2017 年第三季度报告正文 1 山西永东化工股份有限公司 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。 公司负责人刘东良、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。 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,672,241,051.75 | | 1,078,178,583.45 | 55.10% | | 归属于上市公司股东的净资产 | 1,129,369,833.18 | | 917,015,786.73 | 23.16% | | （元） | | | | | | | 本报 ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥856,660,015.18, representing an increase of 84.79% compared to ¥463,597,615.79 in the same period last year[16]. - The net profit attributable to shareholders was ¥95,299,800.34, a significant increase of 330.87% from ¥22,118,211.28 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥96,097,833.03, up 291.05% from ¥24,574,527.50 year-on-year[16]. - The basic earnings per share increased to ¥0.4291, reflecting a growth of 330.82% compared to ¥0.0996 in the previous year[16]. - The total operating revenue for the reporting period reached ¥856,660,015.18, representing an increase of 84.79% compared to ¥463,597,615.79 in the same period last year[54]. - The company's operating profit reached RMB 112,980,538.25, reflecting a growth of 290.24% year-on-year[49]. - The total profit amounted to RMB 112,197,882.06, marking a significant increase of 331.18% compared to the previous year[49]. - The net profit for the first half of 2017 reached ¥95,300,766.15, representing a year-on-year increase of 330.5% from ¥22,118,211.28[179]. - The total profit for the first half of 2017 was ¥112,198,847.87, compared to ¥26,021,425.04 in the same period last year, reflecting a growth of 331.5%[177]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,611,122,635.68, an increase of 49.43% from ¥1,078,178,583.45 at the end of the previous year[16]. - The total assets increased to ¥1,611,121,257.90 from ¥1,078,179,024.86, reflecting a growth of approximately 49.3%[171]. - The total liabilities rose to 527,454,459.99 RMB from 161,162,796.72 RMB, indicating an increase in financial obligations[166]. - The company's total liabilities increased to ¥527,451,674.99 from ¥161,162,796.72, which is an increase of approximately 227.5%[171]. - The company's cash and cash equivalents increased to ¥197,835,410.20, representing 12.28% of total assets, up from 9.91% in the previous year[60]. - The company's cash and cash equivalents increased to ¥192,134,032.46 from ¥115,277,336.17, representing a growth of about 66.7%[169]. - The company's inventory increased to 171,190,735.60 RMB from 110,683,907.93 RMB, indicating a rise in stock levels[165]. Cash Flow - The company reported a negative net cash flow from operating activities of ¥5,170,553.69, a decline of 108.41% compared to a positive cash flow of ¥61,494,138.38 in the same period last year[16]. - The net cash flow from operating activities was -¥5,170,553.69, a decrease of 108.41% compared to ¥61,494,138.38 in the previous period[55]. - Investment activities generated a net cash outflow of -¥295,242,702.03, an increase of 1,553.26% compared to -¥17,858,242.09 last year, primarily due to idle funds being used for wealth management products[55]. - The net cash flow from investment activities was -295,242,702.03 CNY, a significant decrease compared to -17,858,242.09 CNY in the previous period[186]. - The net cash flow from financing activities was 373,977,933.43 CNY, a recovery from -42,028,043.59 CNY in the previous period[186]. Business Operations - The main business involves the production and sale of coal tar processing and carbon black products, with carbon black being the primary product[24]. - The company has established a complete industrial chain from coal tar processing to carbon black manufacturing and tail gas power generation, enhancing its profitability[40]. - The company has increased its construction investment in the carbon black production lines by ¥64,347,438.99, primarily for the development of the eighth and ninth carbon black production lines[39]. - The company has developed high-value chemical products through deep processing of coal tar, contributing to its competitive edge in the market[40]. - The company has implemented a project for deep processing of coal tar with an annual capacity of 300,000 tons, producing 80,000 tons of carbon black[49]. Market and Competition - The carbon black industry is experiencing increased competition due to rising production capacities and international investments, which may affect the company's market competitiveness[80]. - Approximately 67% of carbon black is used in tire production, linking the company's performance closely to the automotive and tire industries, which could pose risks if these sectors experience downturns[80]. - The market for carbon black has seen price adjustments in response to rising coal tar prices, which increased by approximately 30.46% in the first quarter of 2017[48]. Shareholder and Governance - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[5]. - The company plans to implement a stock repurchase program if the stock price falls below 120% of the net asset value per share for five consecutive trading days[89]. - Major shareholders and management are committed to increasing their holdings in the company to support stock price stability[89]. - The company has established a sound corporate governance structure, including three independent directors to enhance board independence and governance mechanisms[97]. - The company has committed to using retained earnings primarily for normal operations, including R&D and project expansion[99]. Risks and Challenges - The company's main raw materials, coal tar and anthracene oil, account for over 80% of total production costs, exposing it to significant risks from price fluctuations[79]. - The company faces safety risks due to the flammable nature of raw materials and high-temperature production processes, which could disrupt operations[82]. - The company is dependent on local suppliers for coal tar, and any changes in policy or supply-demand dynamics could lead to increased costs and affect profitability[79]. Future Outlook - The company expects a net profit attributable to shareholders of the listed company for the first three quarters of 2017 to be between CNY 130 million and CNY 154 million, reflecting an increase of 162.94% to 211.48% compared to the same period in 2016[77]. - The company plans to continue its market expansion and product development strategies in the upcoming periods[194].

Products and Market Position - The company's main products are carbon black and coal tar processing products, with raw materials accounting for over 80% of total production costs[5]. - Approximately 67% of carbon black usage is for tire production, linking the company's performance closely to the tire industry's growth[10]. - The main business of the company is the processing and sales of coal tar and carbon black, with carbon black being the primary product[41]. - Carbon black is classified into rubber carbon black, conductive carbon black, and pigment carbon black, each serving different industrial applications[43]. - The company emphasizes the importance of carbon black in various industries, including automotive, new energy, and consumer products[42]. - The company reports that coal tar processing products are essential raw materials for industries such as metallurgy, chemicals, and pharmaceuticals[49]. - The company produces various coal tar derivatives, including anthracene oil, industrial naphthalene, and phenol oil, which are vital for chemical manufacturing[51][52][53]. - The company aims to expand its market presence by leveraging its technological advancements and product offerings in the coal tar processing sector[50]. Financial Performance - The company's operating revenue for 2016 was CNY 1,096,262,401.58, representing a 26.69% increase compared to CNY 865,344,077.83 in 2015[31]. - The net profit attributable to shareholders for 2016 was CNY 79,209,001.27, a 50.79% increase from CNY 52,530,392.54 in 2015[31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 87,054,489.85, up 57.38% from CNY 55,314,706.21 in 2015[31]. - The basic earnings per share for 2016 was CNY 0.5350, a 35.07% increase from CNY 0.3961 in 2015[31]. - The total assets at the end of 2016 were CNY 1,078,178,583.45, an 8.41% increase from CNY 994,526,541.69 at the end of 2015[32]. - The net assets attributable to shareholders at the end of 2016 were CNY 917,015,786.73, a 7.23% increase from CNY 855,209,611.74 at the end of 2015[32]. - The net cash flow from operating activities for 2016 was CNY 34,654,139.81, a decrease of 29.74% compared to CNY 49,324,051.36 in 2015[31]. - Operating profit reached RMB 103,125,891.70, reflecting a growth of 56.83% compared to the previous year[67]. - The total profit amounted to RMB 93,813,611.02, marking a 50.09% increase year-on-year[67]. Research and Development - The company has developed high-value products like conductive carbon black and aims to continue enhancing its R&D capabilities[16]. - The company’s R&D investment increased by 19.77% year-on-year, reaching approximately ¥38.46 million, accounting for 3.51% of total revenue[86]. - The number of R&D personnel rose to 97, representing a 21.25% increase compared to 80 in the previous year[86]. - The company plans to enhance product development by increasing investment in R&D and collaborating with well-known universities to accelerate the transformation of technological achievements into practical applications[107]. - The company aims to leverage advanced technology to extend its high value-added product chain and maximize integrated advantages[135]. Risks and Challenges - The company has faced risks related to the regional supply of coal tar, which can lead to significant fluctuations in production costs and profit margins[8]. - The company faces risks related to inventory depreciation, with over 90% of inventory consisting of raw materials and semi-finished products[19]. - The procurement volume of coke oven gas has shown an upward trend, indicating reliance on suppliers for stable supply and pricing[6]. Corporate Governance and Shareholder Management - The company has established a sound corporate governance structure to strictly execute relevant laws and regulations regarding related party transactions[128]. - The company has three independent directors on the board, enhancing the independence and governance mechanism of the company[128]. - The company will strengthen its contract management and customer credit rating systems to improve sales and reduce bad debt risk[112]. - The company has committed to not transferring or entrusting the management of its shares for 36 months post-listing, with specific lock-up periods for major shareholders[123]. - Major shareholders have pledged not to reduce their holdings for two years after the lock-up period ends, ensuring stability in share ownership[123]. Investment and Future Plans - The company aims to establish a coal tar deep processing capacity of 1 million tons/year and produce 500,000 tons/year of rubber carbon black and 80,000 tons/year of conductive carbon black in the medium to long term[106]. - The company plans to invest CNY 364.37 million in a project to produce 300,000 tons of coal tar deep processing and 80,000 tons of carbon black annually, which has already received necessary approvals[159]. - The company plans to implement stock buyback measures, with the total funds used for buybacks not exceeding 2% of the latest audited net assets attributable to shareholders[125]. - The company will hold investor meetings if its stock price falls below 120% of net asset value for five consecutive trading days[129]. Employee and Social Responsibility - The company emphasizes employee training, implementing a comprehensive training system that includes various programs such as onboarding, business training, management enhancement, legal training, safety training, and team-building activities[194]. - The company actively fulfills its social responsibilities by providing a safe working environment, good benefits, and continuing education for employees, while also ensuring high-quality products and services for customers[158]. - The company has a competitive salary policy, combining position-based pay and performance assessments to enhance employee satisfaction and loyalty[193]. Financial Management - The company engaged in entrusted financial management with a total amount of 3,000 million CNY in various financial products[150]. - The company reported actual earnings from entrusted financial management totaling 14.05 million CNY[150]. - The total amount of entrusted financial management funds reached CNY 52,754 million, with CNY 51,254 million being the source of idle self-owned funds and idle raised funds[154]. - The company has no overdue principal and income from entrusted financial management, with a cumulative amount of CNY 0[154].

Financial Performance - The company's revenue for Q1 2017 was CNY 385,259,460.60, representing a 95.73% increase compared to CNY 196,831,169.81 in the same period last year[8] - Net profit attributable to shareholders reached CNY 39,116,638.33, a significant increase of 273.71% from CNY 10,467,138.08 year-on-year[8] - The net profit after deducting non-recurring gains and losses was CNY 38,976,241.04, up 276.96% from CNY 10,339,600.26 in the previous year[8] - The basic earnings per share increased to CNY 0.2642, a rise of 273.69% compared to CNY 0.0707 in the same quarter last year[8] - The company expects net profit attributable to shareholders for the first half of 2017 to range from ¥69,000,000 to ¥80,000,000, representing a growth of 211.96% to 261.69% compared to the same period in 2016[21] Assets and Equity - Total assets at the end of the reporting period were CNY 1,185,555,251.41, reflecting a 9.96% increase from CNY 1,078,178,583.45 at the end of the previous year[8] - The net assets attributable to shareholders increased to CNY 956,802,069.50, up 4.34% from CNY 917,015,786.73 at the end of the previous year[8] Cash Flow - The company reported a net cash flow from operating activities of CNY -71,011,483.36, a decline of 357.36% compared to CNY 27,591,949.17 in the same period last year[8] - Cash and cash equivalents decreased by 75.51% to ¥29,622,825.86 due to investments in a newly established rural commercial bank[15] - Net cash flow from operating activities decreased by 357.36% to -¥71,011,483.36, primarily due to increased cash payments for goods and services[15] - The net cash flow from investment activities decreased by 593.06% to -¥60,339,368.93, mainly due to investments in the rural commercial bank[15] Expenses and Costs - Sales expenses rose by 32.52% to ¥35,175,355.50, mainly due to increased transportation costs[15] - The company reported a 91.29% increase in operating costs to ¥287,814,559.85, reflecting higher sales volume and costs[15] Inventory and Receivables - Inventory rose by 40.54% to ¥155,550,959.01, attributed to rising raw material prices and increased stock ahead of the Spring Festival[15] - Other receivables increased by 70.80% to ¥145,621,136.45 due to investments in the rural commercial bank, which has not yet been established[15] Government Support and Shareholder Information - The company received government subsidies amounting to CNY 122,333.33 during the reporting period[9] - The total number of ordinary shareholders at the end of the reporting period was 11,959[11] Future Investments - The company plans to invest ¥364,365,100 in a new project for deep processing of coal tar and production of carbon black, which has received necessary approvals[16] Communication - The company conducted a research communication on March 23, 2017, via phone with an individual participant[25]

山西永东化工股份有限公司 2016 年第三季度报告正文 证券代码：002753 证券简称：永东股份 公告编号：2016-083 山西永东化工股份有限公司 2016 年第三季度报告正文 1 山西永东化工股份有限公司 2016 年第三季度报告正文 公司负责人刘东良、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 2016 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,005,605,381.91 | 994,526,541.69 | | 1.11% | | 归属于上市公司股东的净资产 | 888,397,494.21 | 855,209,611.74 | | 3.88% | | （元） | | | | | | | 本报告期 | 本报告期比上年 ...