Financial Performance - The company's operating revenue for 2018 was CNY 1,675,155,247.91, representing a 71.67% increase compared to CNY 975,824,181.98 in 2017[6]. - The net profit attributable to shareholders for 2018 was CNY 106,513,136.73, a 54.63% increase from CNY 68,883,708.57 in 2017[6]. - The net cash flow from operating activities reached CNY 233,431,312.55, a significant improvement of 338.13% compared to a negative cash flow of CNY -98,023,508.85 in 2017[6]. - The basic earnings per share for 2018 was CNY 0.63, up 53.66% from CNY 0.41 in 2017[6]. - Total assets at the end of 2018 amounted to CNY 2,002,354,008.81, reflecting a 31.81% increase from CNY 1,519,158,525.67 at the end of 2017[6]. - The company's net assets attributable to shareholders increased by 10.17% to CNY 851,234,467.56 at the end of 2018, compared to CNY 772,633,622.68 at the end of 2017[6]. - The company reported a weighted average return on equity of 13.03% for 2018, an increase of 3.50% from 9.53% in 2017[6]. - The total profit for the period was CNY 134.20 million, with a year-on-year growth of 74.54%[53]. - The net profit reached CNY 117.10 million, reflecting a year-on-year increase of 69.73%[53]. Dividend Policy - The company reported a profit distribution plan to distribute a cash dividend of 1.00 RMB per 10 shares (before tax) and to increase capital by 6 shares for every 10 shares held[6]. - The company’s cash dividend for 2018 is set at RMB 1.00 per share, with a total cash dividend amounting to RMB 17,162,600.00[132]. - The company reported a net profit of RMB 106,513,136.73 for 2018, with a cash dividend distribution of RMB 17,162,600.00, representing 16.11% of the net profit attributable to ordinary shareholders[131]. - In 2017, the company distributed cash dividends totaling RMB 20,000,000.00, which accounted for 29.03% of the net profit attributable to ordinary shareholders[131]. Market and Operational Risks - The company emphasizes the risk of macroeconomic fluctuations impacting its operating performance, particularly due to the uncertainty in the global economy[4]. - The company relies on external procurement for tungsten concentrate, which poses a risk if prices fluctuate significantly and product prices do not adjust accordingly[5]. - The company’s export volume is significant, making it susceptible to exchange rate fluctuations that could affect its financial performance[5]. - The company faces risks related to raw material supply and price fluctuations, particularly concerning tungsten concentrate, which could impact gross margins if prices change significantly[122]. - The company has a diversified supplier base for tungsten concentrate, reducing reliance on any single supplier, but remains vulnerable to market demand surges and regulatory changes affecting supply[122]. - The company emphasizes the importance of adapting to market trends and enhancing competitiveness through timely strategic adjustments[114]. Production and Product Development - The company maintained its focus on the development, production, and sales of tungsten products, with no significant changes in its main business during the reporting period[28]. - The primary products include tungsten oxide, tungsten powder, tungsten carbide powder, tungsten alloy powder, and tungsten hard alloys, which are essential for various industrial applications[29]. - The production model is primarily order-based, allowing for efficient response to customer demands and improved production efficiency[33]. - The company has developed a diverse product structure, offering nearly a hundred different specifications and models of tungsten products[44]. - The company reported a 39.57% increase in tungsten powder production and a 44.97% increase in tungsten carbide production in 2018, following the completion of a fully automated powder workshop[61]. - New product development includes a focus on high-purity tungsten products, with an expected launch in Q3 2019[134]. Strategic Initiatives - The company plans to enhance its competitive edge by focusing on product quality, sales service, and production cost management in 2019[74]. - The company aims to enhance its production quality and efficiency through smart manufacturing and automation, targeting international advanced levels in technology and product quality[68]. - The company plans to integrate tungsten resources through acquisitions, responding to the fragmented nature of domestic tungsten mines, with a focus on capitalizing on this opportunity over the next 3 to 5 years[71]. - The company is committed to independent technological innovation and increasing R&D investment to maintain its competitive edge in tungsten powder technology[72]. - The company is exploring potential mergers and acquisitions to enhance its supply chain capabilities[137]. - The company is actively pursuing strategic acquisitions to bolster its market position and operational capabilities[200]. Environmental and Compliance - The company has established a comprehensive environmental management system and obtained ISO 14001 certification[170]. - The company reported a total emission of 9.38 tons of COD, which is compliant with the discharge standards[169]. - The sulfur dioxide emissions from the company were recorded at 21.2 tons, adhering to the regional maximum allowable concentration[169]. - The company has implemented emergency response plans for environmental incidents and conducts regular drills[171]. - The company has no significant environmental information to disclose beyond the required reports[171]. Shareholder and Governance - The company has maintained a continuous audit relationship with Guangdong Zhengzhong Zhujiang Accounting Firm for 8 years, with an audit fee of ¥1.4 million for the current period[146]. - The company has no major litigation or arbitration matters during the reporting period[148]. - The company has no penalties or rectification situations during the reporting period[149]. - The company has committed to not engaging in any form of financial assistance to shareholders holding more than 5% of shares[138]. - The company has no changes in the scope of consolidated financial statements during the reporting period[145]. - The company has not reported any mergers or acquisitions during the reporting period[189]. - The company appointed new board members and management on June 29, 2018, including a new CFO, Li Xiaosheng, and several independent directors[195].

Financial Performance - The company's operating revenue for Q1 2019 was ¥424,442,976.70, representing a 25.16% increase compared to ¥339,108,702.42 in the same period last year[7]. - The net profit attributable to shareholders for Q1 2019 was ¥23,829,425.59, up 12.44% from ¥21,193,415.99 in the previous year[7]. - Basic earnings per share increased by 16.67% to ¥0.14 from ¥0.12 in the previous year[7]. - The total comprehensive income attributable to the parent company was ¥23,829,425.59, up from ¥21,193,415.99, marking an increase of approximately 12.3%[36]. - The company's operating profit decreased to ¥23,580,404.38 from ¥25,445,536.46, reflecting a decline of approximately 7.3%[39]. Cash Flow - The net cash flow from operating activities improved to -¥71,663,216.88, a 52.40% reduction in loss compared to -¥150,541,393.41 in the same period last year[7]. - The cash flow from operating activities showed a net outflow of ¥71,663,216.88, an improvement from a net outflow of ¥150,541,393.41 in the previous period[43]. - The company reported a cash inflow from financing activities of ¥444,777,840.62, significantly higher than ¥262,149,090.93 in the previous period, representing an increase of approximately 69.5%[44]. - The total cash outflow from investing activities was ¥66,968,379.11, slightly lower than ¥71,016,779.11 in the previous period, indicating a decrease of about 5.8%[44]. - Net cash flow from operating activities was -$78,712,084.25, improving from -$97,863,530.18 year-over-year[47]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,970,720,848.39, a decrease of 1.58% from ¥2,002,354,008.81 at the end of the previous year[7]. - Current assets decreased to CNY 937,888,826.71 from CNY 972,994,348.06 at the end of 2018, reflecting a decline of 3.6%[30]. - Total liabilities as of March 31, 2019, were CNY 853,700,374.54, compared to CNY 816,760,251.83 at the end of 2018, indicating a growth of 4.5%[31]. - Cash and cash equivalents decreased by 36.85% to ¥181,782,062.35 compared to ¥287,840,888.96 at the end of 2018, primarily due to the acquisition of minority interests in subsidiaries[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,536[10]. - The top shareholder, Chaozhou Zhongda Investment Co., Ltd., held 19.45% of the shares, amounting to 33,379,500 shares[10]. - The company did not engage in any repurchase transactions during the reporting period[11]. Expenses and Investments - Research and development expenses for Q1 2019 were CNY 12,151,328.78, an increase from CNY 10,942,271.02 in Q1 2018, reflecting a growth of 11.0%[33]. - Tax expenses increased by 61.94% to ¥4,589,644.40 from ¥2,834,082.98, reflecting higher corporate income tax due to increased operating profits[16]. - The company reported no investment income during the period, a decrease of 100% from ¥56,607.72 in the previous period[16]. Inventory and Receivables - Accounts receivable increased by 55.04% to ¥400,248,675.73 from ¥258,163,704.20, attributed to sales growth and accounts not yet due for collection[16]. - Inventory levels decreased to CNY 307,771,838.45 from CNY 386,970,640.16, a reduction of 20.5%[29]. - Prepayments decreased by 58.41% to ¥22,089,349.48 from ¥53,117,890.94, mainly due to the settlement of previously prepaid goods[16]. Other Financial Metrics - The company reported a gross profit margin of approximately 6.5% for Q1 2019, compared to 6.8% in the same period last year[33]. - The company reported a cash outflow of $95,033,371.21 related to other financing activities[48]. - The first quarter report was not audited[49].

Financial Performance - Operating revenue for the period reached CNY 460,027,516.53, a 62.50% increase year-on-year[8] - Net profit attributable to shareholders increased by 129.51% to CNY 36,110,194.75 for the quarter[8] - Basic earnings per share rose by 133.33% to CNY 0.21[8] - The company reported a total net profit of CNY 89,339,259.25 for the year-to-date, reflecting a 69.51% increase compared to the same period last year[8] - Revenue for the reporting period reached ¥460,027,516.53, a year-on-year increase of 62.50%, driven by stable tungsten market conditions and increased sales volume[20] - The company expects a net profit attributable to shareholders for 2018 to be between ¥10,332.56 million and ¥13,776.74 million, representing a potential increase of up to 100% compared to the previous year[26] Asset and Liability Changes - Total assets increased by 22.88% to CNY 1,866,788,209.82 compared to the end of the previous year[8] - Accounts receivable increased by 126.57% to ¥243,766,183.38 due to outstanding payments not yet due[16] - Fixed assets grew by 91.65% to ¥333,420,568.08, primarily due to increased investment in fixed assets[16] - Total liabilities increased significantly, with accounts payable rising by 95.59% to ¥63,866,282.36 due to higher raw material and equipment procurement[17] - The company reported a 204.89% increase in taxes payable to ¥10,336,588.28, corresponding to increased sales revenue[17] Cash Flow and Operating Activities - Net cash flow from operating activities surged by 643.23% to CNY 279,344,803.83[8] - Operating cash flow from operating activities was ¥69,874,673.56, a drastic improvement compared to a negative cash flow of -¥90,059,358.96 in the previous period[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,723[12] - The top ten shareholders held a combined 61.50% of the company's shares, with the largest shareholder owning 19.64%[12] Expense and Investment Changes - Research and development expenses increased by 48.08% to ¥31,395,054.86, reflecting higher investment in R&D[18] - Sales expenses rose to ¥2,364,936.79, a 35.93% increase, attributed to higher sales volume and consolidation effects[22] - Financial expenses increased to ¥8,268,641.26, a 59.63% rise due to increased interest expenses from financing loans[22] - The company reported a significant decrease in non-operating income, which fell to ¥407,814.99, a decline of 91.85% year-on-year, mainly due to reduced government subsidies[20] - Investment income was reported at ¥1,253,685.31, indicating a complete absence of investment income compared to the previous period[22] Other Financial Metrics - The weighted average return on equity improved to 4.38%, up from 2.28%[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 146.15% to CNY 35,591,255.67[8] - Net profit margin improved as undistributed profits rose by 31.60% to ¥288,776,649.05, attributed to increased operating profits[18] - Operating costs increased to ¥386,874,113.07, reflecting a 61.23% rise due to higher sales volume and consolidation effects[20] - The company reported a significant increase in asset impairment losses, totaling ¥7,117,725.61, which is a 261.45% increase year-on-year, primarily due to increased accounts receivable provisions[20] Financing Activities - Short-term borrowings increased by 30.90% to ¥369,410,000.00, mainly due to increased bank financing[17] - The company’s capital stock increased by 70.00% to ¥170,000,000.00 due to capital reserve conversion[18] - The company plans to publicly issue convertible bonds, with details disclosed in previous announcements[23]

广东翔鹭钨业股份有限公司 2018 年第一季度报告正文 证券代码：002842 证券简称：翔鹭钨业 公告编号：2018-024 广东翔鹭钨业股份有限公司 股票代码：002842 股票简称：翔鹭钨业 披露日期：2018 年 4 月 25 日 1 广东翔鹭钨业股份有限公司 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。 Guangdong Xianglu Tungsten Co., Ltd. 2018 年一季度报告正文 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈启丰、主管会计工作负责人李晓生及会计机构负责人(会计主 管人员)郑丽芳声明：保证季度报告中财务报表的真实、准确、完整。 2 广东翔鹭钨业股份有限公司 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 | | --- | --- | --- | ...

2017 年三季度报告正文 股票代码：002842 股票简称：翔鹭钨业 广东翔鹭钨业股份有限公司 2017 年第三季度报告正文 证券代码：002842 证券简称：翔鹭钨业 公告编号：2017-063 广东翔鹭钨业股份有限公司 Guangdong Xianglu Tungsten Co., Ltd. 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。 2 所有董事均已出席了审议本次季报的董事会会议。 广东翔鹭钨业股份有限公司 2017 年第三季度报告正文 公司负责人陈启丰、主管会计工作负责人李晓生及会计机构负责人(会计主 管人员)郑丽芳 声明：保证季度报告中财务报表的真实、准确、完整。 第二节 公司基本情况 一、主要会计数据和财务指标 披露日期：2017 年 10 月 公司是否需追溯调整或重述以前年度会计数据 1 广东翔鹭钨业股份有限公司 2017 年第三季度报告正文 □ 适用 √ 不适用 3 广东翔鹭钨业股份有限公司 2017 年第三季度报告正文 □ 是 √ 否 | | 本报告期末 | 上年 ...

Financial Performance - The company reported a profit distribution plan of 1.00 RMB per 10 shares for a total of 100,000,000 shares, amounting to a total cash dividend of 10 million RMB[11]. - In 2016, the company's operating revenue was CNY 714.75 million, a decrease of 1.91% compared to CNY 728.65 million in 2015[26]. - The net profit attributable to shareholders was CNY 57.11 million, an increase of 9.52% from CNY 52.15 million in 2015[26]. - The net cash flow from operating activities was CNY 85.02 million, representing a 17.52% increase from CNY 72.35 million in 2015[26]. - The total assets at the end of 2016 were CNY 736.10 million, an increase of 8.21% from CNY 680.26 million at the end of 2015[26]. - The company's net assets attributable to shareholders increased by 11.98% to CNY 465.83 million at the end of 2016 from CNY 416.00 million at the end of 2015[26]. - The basic earnings per share for 2016 was CNY 0.76, an increase of 8.57% compared to CNY 0.70 in 2015[26]. - The total profit for the period was CNY 6,582.64 million, reflecting a year-on-year increase of 9.77%[53]. - The company achieved a net profit of RMB 5,711,192.09 for the year 2016, with distributable profits amounting to RMB 167,464,060.23[118]. - The proposed cash dividend for 2016 is RMB 10,000,000, which translates to RMB 1.00 per 10 shares, representing 17.51% of the net profit attributable to shareholders[121]. Market and Operational Environment - The company operates in a challenging macroeconomic environment, with global economic uncertainties impacting the demand for tungsten products[6]. - The company faces risks from exchange rate fluctuations due to its export activities, which could affect its financial performance[10]. - The company recognizes risks from macroeconomic fluctuations that could impact its operating performance and accounts receivable[99]. - The company is exposed to raw material supply and price risks, particularly concerning tungsten concentrate, which is essential for its production[100]. - The global tungsten market is expected to see a gradual recovery in prices due to the increasing demand driven by sectors like automotive and aerospace[91]. Business Operations - The company’s main business involves the development, production, and sales of tungsten products, which are widely used across various industries[6]. - The company operates primarily on an order-based production model, enhancing production efficiency and responsiveness to customer orders[41]. - The sales model combines direct sales and distribution, with a significant portion of business conducted directly with end-users[41]. - The company aims to improve tungsten metal recovery rates and reduce processing losses to effectively lower production costs[43]. - The company has developed a wide range of tungsten products, including nearly 100 different specifications and models, enhancing its market competitiveness[46]. - The company has established itself as a qualified supplier for renowned international companies, including TAEGUTEC and KENNAMETAL, due to its advanced production management[45]. - The company has maintained a stable customer base, enhancing product market share through deep market exploration and timely product structure adjustments[53]. Research and Development - Research and development investment amounted to CNY 25,384,095.34, an increase of 4.20% compared to the previous year[74]. - The proportion of research and development investment to operating income was 3.55%, up from 3.34% in the previous year[74]. - The company aims to improve product structure by enhancing the control over high-performance ultra-fine and ultra-coarse tungsten carbide production processes[93]. - The company will focus on developing high-tech, high-value-added products with independent intellectual property rights in the alloy field[94]. - The company holds several patents in tungsten technology, showcasing its strong technical innovation capabilities within the industry[50]. Supply Chain and Procurement - The company relies on external procurement of tungsten concentrate, which poses risks related to supply stability and price fluctuations[7]. - The company emphasizes the importance of maintaining a diversified supplier base to mitigate risks associated with raw material procurement[7]. - The total procurement amount from the top five suppliers was CNY 335,441,971.44, representing 55.89% of the annual total procurement[70]. Governance and Shareholder Structure - The company has a stable profit distribution policy that prioritizes reasonable returns to investors while considering operational conditions and long-term strategic goals[106]. - The board of directors is responsible for formulating the profit distribution plan, which must be approved by the shareholders' meeting[112]. - The company has committed to not transferring or entrusting the management of shares held by major shareholders for a period of 36 months from the date of the initial public offering[124]. - The major shareholders include Chaozhou Zhongda Investment Co., Ltd. with a 26.18% stake (19,635,000 shares) and Chen Qifeng with a 25.41% stake (19,057,500 shares)[160]. - The company has no shareholders with unlimited sale conditions, indicating a stable ownership structure[161]. - The controlling shareholder, Chen Qifeng, holds the position of Chairman and General Manager, with no changes in control during the reporting period[164][167]. Employee and Management Structure - The company has a total of 433 employees, with 252 in production, 20 in sales, 74 in technical roles, 10 in finance, and 77 in administration[189]. - The company has implemented a compensation policy that includes fixed salaries and performance bonuses, linking employee performance to company output and individual contributions[191]. - The company has established a comprehensive training system to enhance employee skills and knowledge, including various training formats[192]. - The current management team has extensive experience in the tungsten industry, with key members having backgrounds in finance, engineering, and management[176]. Compliance and Audit - The company continues to comply with regulatory requirements and governance standards[175]. - The company appointed Guangdong Zhengzhong Zhujiang Accounting Firm as its auditor, with an annual audit fee of 300,000 RMB[133]. - There were no changes in accounting policies, estimates, or methods compared to the previous year's financial report[132]. - The company did not experience any major accounting errors requiring retrospective restatement during the reporting period[131]. - The company has not reported any mergers or acquisitions in the current fiscal year[175].

Financial Performance - The company's operating revenue for Q1 2017 was ¥190,397,250.53, representing a 12.74% increase compared to ¥168,884,909.31 in the same period last year[9]. - Net profit attributable to shareholders for Q1 2017 was ¥16,254,379.91, a 3.22% increase from ¥15,748,064.02 year-on-year[9]. - Basic and diluted earnings per share decreased by 23.81% to ¥0.16 from ¥0.21 in the same period last year[9]. - The company expects net profit attributable to shareholders for the first half of 2017 to fluctuate between a decrease of 10.00% and an increase of 10.00% compared to the previous year[17]. Cash Flow - The net cash flow from operating activities was -¥97,435,754.38, a decline of 130.65% compared to -¥56,875,191.87 in the previous year[9]. Assets and Equity - Total assets at the end of Q1 2017 increased by 34.33% to ¥988,793,472.45 from ¥736,102,179.40 at the end of the previous year[9]. - Net assets attributable to shareholders rose by 56.76% to ¥730,225,509.89 from ¥465,826,570.47 at the end of the previous year[9]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,059[12]. - The top three shareholders collectively hold 57.76% of the company's shares, indicating a concentrated ownership structure[12]. - There are no non-operating fund occupations by controlling shareholders and their affiliates during the reporting period[19]. Government Support and Activities - The company received government subsidies amounting to ¥1,000,000.00 during the reporting period[10]. - The company did not engage in any research, communication, or interview activities during the reporting period[20].