Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year increase of 15% compared to the same period in 2020[17]. - The net profit attributable to shareholders for the first half of 2021 was 200 million CNY, up 20% from the previous year[17]. - The company's operating revenue for the current reporting period is ¥629,534,463.66, representing an increase of 18.17% compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company is ¥38,932,923.58, reflecting a growth of 12.33% year-over-year[23]. - The net profit after deducting non-recurring gains and losses is ¥37,183,979.37, which is a significant increase of 29.65% compared to the previous year[23]. - The company reported a total revenue of CNY 106,438,690.23 for the first half of 2021, with a net profit of CNY 22,594,783.85, reflecting a strong performance in its core business[85]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2021, representing a year-on-year growth of 25%[118]. - The company reported a net cash outflow from operating activities of approximately CNY -48.90 million, a decline of 194.79% compared to the previous year[56]. - The company’s gross profit margin may be impacted by fluctuations in raw material prices, which could affect overall profitability if product prices do not increase correspondingly[86]. Market Expansion and Strategy - The company has expanded its market presence by entering two new provinces, aiming for a 10% market share in these regions by the end of 2022[17]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[17]. - The company anticipates a revenue growth target of 20% for the second half of 2021, driven by increased demand in the agricultural sector[17]. - The company plans to enhance its online sales channels, aiming for a 50% increase in e-commerce revenue by the end of 2021[118]. - The company is expanding its market presence, targeting an increase in market share by 10% in the next fiscal year through strategic partnerships[118]. - A merger with a local competitor is anticipated to be finalized by Q4 2021, which is expected to enhance operational efficiency and increase market penetration[119]. Research and Development - The company plans to invest 300 million CNY in new product development and technology upgrades in the next fiscal year[17]. - The company has allocated 100 million CNY for research and development in new technologies aimed at improving production processes[118]. - The company has a strong focus on R&D for feed-grade phosphates, continuously improving its product offerings and market reach[47]. - Research and development expenses for the first half of 2021 were CNY 1,577,491.49, compared to CNY 1,238,679.27 in the same period of 2020, indicating a 27.5% increase[196]. Environmental and Safety Compliance - The company emphasizes safety and environmental standards in its production processes, with regular assessments and improvements[44]. - The company has implemented a closed-loop system for wastewater treatment, achieving a "zero discharge" goal[52]. - The company is committed to maintaining compliance with environmental regulations through continuous monitoring and upgrades of its facilities[106]. - The company has invested in advanced pollution control technologies, including double oxygen water desulfurization towers and electric mist eliminators[104]. - The company is classified as a key pollutant discharge unit by the environmental protection department[102]. - The total emissions of inorganic chemical industrial pollutants reached 62.466 tons, exceeding the approved discharge limit[102]. Financial Management and Capital Structure - The company’s financial management remains robust, with a credit rating of "AAA" and compliance with ISO9001:2008 standards[54]. - The company has approved a comprehensive credit facility of RMB 75 million from China Merchants Bank and RMB 160 million from Huaxia Bank, with guarantees provided by the controlling shareholder and his spouse[133]. - The total approved guarantee amount for the company and its subsidiaries reached RMB 650 million, with an actual guarantee balance of RMB 650 million at the end of the reporting period[142]. - The company maintained a zero guarantee fee for the related transactions, ensuring no adverse impact on operational performance[134]. - The company’s controlling shareholder provided guarantees without incurring any guarantee fees, reflecting strong support for the company[134]. Shareholder and Governance - The company has conducted multiple shareholder meetings with participation rates of 46.34% and 45.64% for the first and annual meetings respectively[94]. - The company has improved its governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[112]. - The total number of common shareholders at the end of the reporting period was 10,626[157]. - The company’s financial report indicates no significant changes in the shareholding structure among major shareholders[161]. Product and Market Demand - The market demand for feed-grade dicalcium phosphate (DCP) remains stable, with an addition rate of 1%-3% in animal feed, primarily due to the impact of the swine epidemic on the pork market since 2019[35]. - The compound annual growth rate (CAGR) for aquaculture feed production from 2018 to 2020 was 3.76%, indicating a growing demand for feed-grade monocalcium phosphate (MCP) in aquatic feed[36]. - MCP is recognized for its high biological efficacy and water solubility, with phosphorus utilization rates in fish and shrimp reaching 94%-98%, making it crucial for aquaculture[40]. - The demand for fertilizer-grade dicalcium phosphate has been on the rise since September 2020, driven by increased global food demand due to the pandemic[38]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming to reduce costs by 5% by the end of 2021[17]. - The company dynamically adjusts its phosphate inventory based on production needs and market changes, ensuring optimal supply[43]. - The company utilizes a flexible product structure, allowing for rapid adjustments in production based on market demand and profitability[48]. Challenges and Risks - The company anticipates that the supply of phosphate rock will remain tight due to increasing environmental regulations and declining ore grades, leading to a long-term upward trend in phosphate prices[32]. - The company’s gross profit margin may be impacted by fluctuations in raw material prices, which could affect overall profitability if product prices do not increase correspondingly[86].

Financial Performance - The company's operating revenue for 2020 was ¥1,049,808,535.62, a decrease of 6.77% compared to ¥1,125,995,638.52 in 2019[5]. - The net profit attributable to shareholders was ¥41,476,942.76, down 43.03% from ¥72,811,266.86 in the previous year[5]. - The net profit after deducting non-recurring gains and losses was ¥29,871,827.30, a decline of 56.14% from ¥68,101,606.77 in 2019[5]. - The net cash flow from operating activities increased by 13.65% to ¥138,806,513.73 from ¥122,139,938.64 in 2019[5]. - Total assets at the end of 2020 reached ¥1,938,290,384.51, an increase of 33.98% compared to ¥1,446,755,090.96 at the end of 2019[5]. - The net assets attributable to shareholders increased by 12.98% to ¥1,047,070,589.56 from ¥926,764,351.98 in 2019[5]. - The basic earnings per share decreased by 43.38% to ¥0.3184 from ¥0.5623 in 2019[5]. - The weighted average return on net assets was 4.36%, down from 8.36% in the previous year, reflecting a decrease of 4.00%[5]. - The company reported a net loss of ¥8,665,781.81 in the fourth quarter, contrasting with profits in the first three quarters[25]. - The company received government subsidies amounting to ¥12,764,729.49 in 2020, significantly higher than ¥4,913,946.00 in 2019[28]. - The company achieved operating revenue of CNY 1,049.81 million, a decrease of 6.77% compared to the previous year, and a net profit attributable to shareholders of CNY 414.77 million, down 43.03% year-on-year[63]. Market and Product Development - The company is focused on developing new products and technologies in the phosphate industry[17]. - The company is actively pursuing market expansion strategies to enhance its competitive position[19]. - The company has a phosphate ore reserve of 1.099 billion tons with an average grade of 22%, accounting for 25.91% of Yunnan Province's total phosphate resources[35]. - The company currently operates a phosphate flotation facility with an annual capacity of 2 million tons, utilizing patented technologies to improve the grade of low-grade phosphate ore from 20%-25% to 26%-30%[35]. - The wet-process phosphoric acid production method is gaining competitive advantages over the thermal process due to rising energy costs and stricter environmental regulations[36]. - The company has two production lines: one for dihydrate phosphoric acid using low-grade ore (26-20%) and another for hemihydrate phosphoric acid using high-grade ore (30-35%) to maximize resource utilization[37]. - The company has developed a new production process for multi-nutrient heavy superphosphate, enhancing its market offerings[88]. - The company aims to develop high-value-added fine phosphorus products and improve the efficiency of resource utilization in the phosphorus chemical industry[126]. Environmental and Regulatory Compliance - The company is under pressure for safety and environmental compliance due to the production of hazardous chemicals[8]. - The company is subject to strict environmental regulations as part of national ecological civilization initiatives[8]. - The company emphasizes environmental responsibility by improving phosphorus resource utilization and reducing waste in animal feed production[43]. - The company has implemented technologies for wastewater treatment and resource recovery, contributing to cost savings and environmental protection[62]. - The company is focusing on the industrial utilization of phosphogypsum, aiming for 100% market utilization of produced phosphogypsum through strategic phased development[64]. - The company has established a circular economy model, effectively recycling waste materials such as wastewater, waste gas, and waste residue[57]. Risks and Challenges - The company faces risks from rising raw material prices and declining product prices, which may impact profitability[7]. - The company has identified potential risks in project implementation, including changes in engineering progress and investment costs[9]. - The company reported a significant decline in gross profit margin due to export difficulties and falling product prices, impacting overall profitability[63]. - The company anticipates facing market risks due to rising raw material prices and potential declines in product prices, which could impact profitability[136]. Investment and Financing - The company completed the issuance of convertible bonds in October 2020, raising a net amount of CNY 358 million for the "wet-process phosphoric acid purification and fine phosphate project," enhancing product value and competitiveness[63]. - The company has ongoing investments in the wet-process phosphoric acid purification and fine phosphate project, with a cumulative investment of ¥341,620,000[106]. - The company raised a net amount of RMB 148.86 million from a non-public stock issuance, with a total of RMB 148.95 million used for investment projects, leaving a balance of RMB 74.64 million converted to working capital[117]. - The company issued convertible bonds raising a net amount of RMB 357.97 million, with RMB 64.20 million used to supplement working capital, and the remaining funds stored in a dedicated bank account[117]. Corporate Governance and Shareholder Relations - The company has established an employee stock ownership platform, with management investing CNY 5 million each in two partnerships to align interests between shareholders, the company, and employees[64]. - The company has adhered to its profit distribution policy and procedures, ensuring the interests of all shareholders are protected[141]. - The company’s governance and decision-making processes for profit distribution involved independent directors and were compliant with regulations[141]. - The company has maintained transparency regarding its commitments and compliance with public offerings[148]. Research and Development - The number of R&D personnel increased to 147 in 2020, accounting for 9.40% of the total workforce, up from 6.82% in 2019[91]. - R&D investment amounted to ¥23,757,821.39 in 2020, representing 2.26% of operating revenue, an increase from 1.94% in 2019[91]. - The company has focused on developing new technologies, including low-grade phosphate ore utilization and comprehensive utilization of phosphogypsum, resulting in several patents granted[85][87]. Social Responsibility - The company has absorbed 207 registered poor households for employment and donated RMB 280,000 to support local development during the reporting period[195]. - The company emphasizes the protection of shareholder and creditor rights, ensuring compliance with relevant laws and regulations[196].

Financial Performance - The company's revenue for Q1 2021 was ¥238,078,212.90, representing a 5.34% increase compared to ¥225,998,729.21 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥5,475,444.55, a decrease of 134.29% from a profit of ¥15,966,389.60 in the previous year[9] - Basic and diluted earnings per share were both -¥0.0419, down 124.60% from ¥0.1703 in the previous year[9] - The company reported a total revenue of 238.08 million yuan, an increase of 5.34% compared to the same period last year[24] - The net profit attributable to shareholders was -5.48 million yuan, a decrease of 134.29% year-on-year[24] - The gross profit decreased by over 8 million yuan due to a significant rise in raw material prices, particularly sulfuric acid[24] - The company's operating revenue for Q1 2021 was CNY 238,078,212.90, an increase of 5.4% compared to CNY 225,998,729.21 in the previous year[51] - The net profit for Q1 2021 was a loss of CNY 5,497,256.24, compared to a profit of CNY 15,898,119.35 in the same period last year[49] - The total comprehensive income for Q1 2021 was a loss of CNY 5,996,429.90, compared to a comprehensive income of CNY 15,898,119.35 in the same period last year[49] Cash Flow and Liquidity - The net cash flow from operating activities was -¥70,129,877.70, which is a 381.00% decline compared to -¥14,580,130.73 in the same period last year[9] - Cash and cash equivalents decreased by 41.62% to ¥235,584,415.8 compared to ¥403,548,424.1 at the end of 2020 due to reduced net cash flow[21] - The company's cash and cash equivalents decreased significantly to CNY 185,347,402.69 from CNY 379,204,898.04, reflecting liquidity challenges[41] - The cash flow from operating activities showed a net outflow of CNY 70,129,877.70, worsening from a net outflow of CNY 14,580,130.73 in the previous year[56] - The company's operating cash flow for Q1 2021 was negative at -23,277,138.48 CNY, compared to -13,066,182.04 CNY in the same period last year, indicating a decline in operational efficiency[59] - Total cash and cash equivalents at the end of Q1 2021 were 175,297,556.10 CNY, down from 102,247,940.99 CNY in Q1 2020, reflecting a decrease of approximately 71.4% year-over-year[60] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,861,503,064.65, a decrease of 3.96% from ¥1,938,290,384.51 at the end of the previous year[9] - The total assets as of March 31, 2021, were CNY 1,583,168,752.28, a slight decrease from CNY 1,611,552,766.87 at the end of 2020[43] - Total liabilities decreased to CNY 523,518,441.34 from CNY 547,293,941.74 at the end of 2020, indicating improved financial stability[44] - The company's total assets decreased to RMB 1.86 billion from RMB 1.94 billion, a reduction of approximately 4.3%[39] - The total liabilities of the company were 881,516,571.56 CNY, indicating a stable financial position with no significant changes year-over-year[64] Shareholder Information - The total number of common shareholders at the end of the reporting period was 12,845[13] - The largest shareholder, Liu Rang, holds 37.60% of the shares, amounting to 49,143,000 shares[13] - The total number of restricted shares at the end of the period was 41,606,735, with 7,994,898 shares released during the period[18] Expenses and Costs - Total operating costs for Q1 2021 were CNY 243,379,815.13, up from CNY 213,703,488.24 in the previous period[47] - The company's net profit margin decreased due to increased operating costs, with operating costs rising by approximately 13.9% year-over-year[47] - Sales expenses rose by 41.95% to ¥3,031,966.76, driven by increased salaries and commissions for sales personnel[21] - Management expenses increased by 40.97% to ¥15,870,857.37, due to depreciation and labor costs from a suspended production workshop being reclassified[21] - R&D expenses grew by 39.74% to ¥1,020,884.73, reflecting higher costs associated with research personnel[21] - Financial expenses surged by 269.47% to ¥5,081,736.33, primarily due to accrued interest on convertible bonds[21] Investment Activities - The company has invested a total of 19.34 million yuan from the raised funds during the quarter, with a cumulative investment of 25.76 million yuan[29] - The company raised a total of RMB 357.97 million through the issuance of convertible bonds, with RMB 154.34 million allocated to investment projects[31] - The company utilized RMB 100 million to replace self-funded investments in projects, with an additional RMB 54.34 million invested in engineering construction[31] - The company plans to extend the investment project deadline to March 15, 2022, due to actual progress considerations[31] Operational Challenges - The company is facing risks related to raw material supply and price fluctuations, which may adversely affect operations[25] - Operating profit turned negative at -¥5,367,357.77, a decline of 126.62% from ¥20,160,332.62, mainly due to rising raw material and logistics costs[21] - Other income decreased by 96.68% to ¥268,717.74, as government subsidies received were significantly lower[21] - The company reported a significant increase in financial expenses, which rose to CNY 5,097,975.18 from CNY 1,388,635.36, indicating a rise of over 267%[51]

Financial Performance - Net profit attributable to shareholders decreased by 20.01% to CNY 15,482,186.60 for the reporting period[9] - Operating revenue decreased by 9.64% to CNY 260,913,008.82 for the reporting period[9] - Basic earnings per share decreased by 38.57% to CNY 0.1185 for the reporting period[9] - The company reported a net profit of CNY 50,142,724.57 for the year-to-date, a decrease of 8.43% compared to the same period last year[9] - Net profit for the period was CNY 15,464,451.86, down from CNY 19,354,107.21 in the same period last year, indicating a decline of approximately 20.5%[45] - Net profit for the third quarter of 2020 was CNY 53,525,461.51, a decrease of 5.5% compared to CNY 56,875,275.60 in the same period last year[57] - The total profit for the period was CNY 59,099,258.92, down from CNY 64,805,921.32, reflecting overall profitability challenges[52] Assets and Liabilities - Total assets increased by 5.51% to CNY 1,526,518,597.37 compared to the end of the previous year[9] - Cash and cash equivalents decreased by 21,553.58 million, a reduction of 80.15%, primarily due to significant cash outflows from investment activities and reduced cash inflows from financing activities[26] - The company's total liabilities increased to CNY 555,925,600.39 from CNY 519,990,738.98, marking an increase of about 6.9%[37] - The equity attributable to the owners of the parent company rose to CNY 960,822,897.03 from CNY 926,764,351.98, showing an increase of approximately 3.7%[38] - The total assets amounted to 1,446,755,090.96 CNY, with current assets at 610,274,955.81 CNY and non-current assets at 836,480,135.15 CNY[69] - Total liabilities amounted to CNY 312,915,912.35, with current liabilities at CNY 232,915,912.35 and non-current liabilities at CNY 80,000,000.00[75] Cash Flow - Net cash flow from operating activities increased by 18.78% to CNY 37,345,961.96 for the reporting period[9] - Operating cash flow net increased by 5,767.92 million, an increase of 184.57%, mainly due to a significant reduction in cash payments for goods and services[25] - The company’s cash flow from financing activities decreased by 33,919.71 million, a decrease of 106.54%, mainly due to a significant reduction in cash inflows from financing activities[26] - Cash flow from operating activities generated a net amount of CNY 88,929,820.59, significantly up from CNY 31,250,599.80 in the previous year[61] - The net cash flow from financing activities was -34,340,733.82 CNY, compared to 118,822,808.38 CNY in the previous period[66] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,886[13] - The largest shareholder, Liu Rang, holds 37.60% of the shares, totaling 49,143,000 shares[13] - The company implemented a cash dividend policy, distributing CNY 1.6 per 10 shares, totaling CNY 16,084,179.52, along with a capital reserve increase of 3 shares for every 10 shares held[29] Cost Management - Total operating costs decreased to CNY 244,014,546.90 from CNY 266,754,870.47, reflecting a cost reduction strategy[44] - The company reported a decrease in sales expenses to CNY 33,118,757.85 from CNY 49,805,234.28, reflecting cost control measures[44] - Sales expenses decreased to CNY 106,577,552.83 from CNY 131,781,270.59, indicating improved cost management[52] Other Financial Metrics - Non-recurring gains and losses totaled CNY 7,550,019.93 for the year-to-date[10] - Other income increased by 883.75 million, an increase of 728.2%, primarily due to a substantial increase in government subsidies received[24] - The company's financial expenses increased by 151.42 million, an increase of 43.24%, mainly due to significant exchange losses from fluctuations in the USD to RMB exchange rate[24] - The company achieved other income of CNY 10,051,091.65, significantly higher than CNY 1,213,600.00 in the previous period, indicating successful diversification of income sources[52]

Financial Performance - The company reported a revenue of 500 million CNY for the first half of 2020, representing a 10% increase compared to the same period in 2019[19]. - The net profit attributable to shareholders was 80 million CNY, up 15% year-on-year[19]. - The company's operating revenue for the reporting period was ¥532,733,163.56, representing a 2.07% increase compared to the same period last year[25]. - The net profit attributable to shareholders decreased by 2.11% to ¥34,660,537.97, while the net profit after deducting non-recurring gains and losses fell by 13.81% to ¥28,681,056.36[25]. - The total profit amounted to CNY 34.45 million, reflecting a slight decline of 2.70% year-on-year, while net profit attributable to shareholders was CNY 34.66 million, down 2.11%[39]. - The company reported a significant decrease in accounts payable, which fell to CNY 158,676,686.32 from CNY 148,911,061.55, a decrease of approximately 6.5%[162]. - The company reported a net profit of 761 million yuan, which is a decrease of 17.0% year-over-year[190]. Investment and Development - The company plans to invest 200 million CNY in new product development and technology upgrades in the next fiscal year[19]. - Research and development investment rose by 27.17% to CNY 11.08 million, primarily due to increased material usage for R&D projects[43]. - New product development is underway, with an investment of 50 million CNY allocated for R&D in innovative chemical products[89]. - The company has initiated research and development for new technologies aimed at enhancing production efficiency[186]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2022[19]. - User data indicates a 20% increase in customer base, reaching 1 million active users by June 2020[19]. - The company plans to expand its market presence by entering two new provinces, aiming for a 10% market share in these regions by the end of 2021[90]. - The company has established itself as a long-term partner with major domestic feed enterprises, enhancing its market presence in regions like South America, the Middle East, and India[33]. Financial Position - Total assets increased by 0.91% to ¥1,459,866,904.33, and net assets attributable to shareholders rose by 2.00% to ¥945,340,710.43[25]. - Cash and cash equivalents decreased by 55.95% to ¥118,876,500.00, primarily due to increased payments for ongoing projects[34]. - The company's equity increased to CNY 955,128,545.12 from CNY 926,764,351.98, showing a growth of about 3.1%[163]. - The total liabilities at the end of the period were 340 million, representing a 12% increase from the previous period[188]. Risk Management - The company is facing risks related to raw material price fluctuations, which could affect profit margins in the upcoming quarters[7]. - The company faces market risks including rising raw material prices and declining product prices, which may reduce profitability[69]. - The company has implemented measures to manage risks associated with project implementation, focusing on quality, progress, and cost management[71]. - The company is actively pursuing deep cooperation with mining enterprises to enhance raw material supply security[40]. Compliance and Governance - The company has committed to continuous investment in safety and environmental measures, including enhancing R&D for environmental protection[70]. - The company has established measures to ensure that its controlling shareholders do not interfere with its management activities[86]. - The company has outlined specific commitments to avoid conflicts of interest and ensure transparency in its operations[83]. - The company did not distribute cash dividends or issue bonus shares during the reporting period[77]. Environmental Impact - Environmental compliance costs have increased by 5% due to stricter regulations, impacting overall profitability[7]. - The company has implemented a circular economy approach, investing in environmental protection and resource recycling systems[35]. - The company reported a total pollutant discharge of 17.6198 tons for nitrogen oxides, which is below the approved limit of 42.2103 tons, indicating no exceedance[116]. - The company’s fluorides emissions were recorded at 1.07786 tons, significantly below the limit of 6.4883 tons, indicating compliance[116]. Shareholder Information - The company has a total share capital of 130,683,958 shares after a capital increase of 30,157,836 shares through a bonus issue[132]. - The total number of ordinary shareholders was 14,141, with significant shareholders including Liu Ma holding 39.13% and Wei Jiagui holding 3.27%[139]. - The company proposed a profit distribution plan for 2019, distributing a cash dividend of 1.6 CNY per 10 shares, totaling 16,084,179.52 CNY, and a capital reserve conversion of 3 shares for every 10 shares held, increasing total shares to 130,683,958[134].

Financial Performance - Total revenue for Q1 2020 was ¥225,998,729.21, a decrease of 0.88% compared to ¥227,994,283.04 in the same period last year[9] - Net profit attributable to shareholders increased by 29.12% to ¥15,901,797.11 from ¥12,315,539.32 year-on-year[9] - Basic earnings per share rose by 20.67% to ¥0.1582 from ¥0.1311 in the same period last year[9] - Operating profit increased by 50.06% compared to the same period last year, mainly due to reduced financial expenses and increased other income[31] - Total profit increased by 29.70% compared to the same period last year, primarily due to reduced financial expenses and increased other income[34] - The company reported a net profit of 15.90 million yuan, an increase of 29.12% compared to the same period last year[41] - Operating income for the period was 225.9987 million yuan, remaining stable compared to the previous year[41] - The total profit for Q1 2020 was CNY 18,954,384.32, an increase of 29.1% compared to CNY 14,613,637.56 in Q1 2019[64] - The company's operating profit for Q1 2020 was CNY 20,164,010.38, up from CNY 13,437,297.90 in the previous year, marking a growth of 49.9%[64] Cash Flow - Net cash flow from operating activities showed a significant decline, with a net outflow of ¥14,600,415.68, compared to an outflow of ¥2,861,814.45 in the previous year, representing a 410.18% increase in cash outflow[9] - Cash flow from operating activities decreased by 410.18% compared to the same period last year, primarily due to a significant reduction in cash inflows from operations[37] - Cash and cash equivalents decreased by 32.47% compared to the beginning of the period, mainly due to the previous year's non-public offering funds and bank loans received[22] - Cash and cash equivalents at the end of the period decreased by 37.87% compared to the same period last year, mainly due to the previous year's non-public stock issuance[40] - The company experienced a 403.52% increase in cash paid for bank loan interest compared to the same period last year[38] - Cash flow from financing activities decreased by 93.96% compared to the same period last year, primarily due to the previous year's non-public stock issuance[38] - The company’s cash received from investments decreased by 93.34% compared to the same period last year, mainly due to the previous year's non-public stock issuance[37] - The company’s cash flow from investment activities increased by 235.59% compared to the same period last year, driven by increased investment in the Guangxi Chuanjinnuo wet phosphoric acid purification and fine phosphate project[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,451,182,474.88, reflecting a slight increase of 0.31% from ¥1,446,755,090.96 at the end of the previous year[9] - The total liabilities decreased from CNY 519,990,738.98 to CNY 514,600,505.31, indicating a reduction in financial obligations[56] - Current assets totaled CNY 581,547,116.41, slightly down from CNY 585,855,982.13 in the previous period[58] - The total equity attributable to shareholders increased slightly from CNY 926,764,351.98 to CNY 926,785,612.47[56] - Long-term borrowings decreased from CNY 280,000,000.00 to CNY 275,000,000.00, showing a reduction in long-term debt[56] - Total liabilities were CNY 312,915,912.35, consisting of current liabilities of CNY 232,915,912.35 and non-current liabilities of CNY 80,000,000.00[80] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,777[13] - The largest shareholder, Liu Ran, holds 39.13% of the shares, amounting to 39,340,769 shares, with 29,505,577 shares pledged[13] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[14] Other Financial Metrics - The company reported non-recurring gains of ¥5,851,602.25, primarily from government subsidies and other income[10] - The company’s top five suppliers accounted for 23% of the total raw material procurement, slightly increasing from 22% in the previous year[42] - The company raised a total of RMB 148.86 million through a private placement, with RMB 81.81 million used to replace self-funded investments in projects[47] - The company has not indicated any significant changes in feasibility or expected returns for its investment projects[47] - The company has no reported violations regarding external guarantees during the reporting period[48] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[49] Operational Changes - The company implemented new revenue and lease standards starting in 2020, but this does not apply to the current report[81] - The company plans to adjust the implementation method of fundraising projects to joint ventures following changes in its equity structure[47] Research and Development - The company's research and development expenses for Q1 2020 were CNY 419,147.14, a decrease of 18.1% from CNY 511,792.83 in the previous year[66]

Financial Performance - The company’s operating revenue for 2019 was CNY 1,125,995,638.52, representing a 16.61% increase compared to CNY 965,593,161.31 in 2018[23]. - The net profit attributable to shareholders for 2019 was CNY 72,811,266.86, up 13.58% from CNY 64,105,329.31 in 2018[23]. - The net profit after deducting non-recurring gains and losses was CNY 68,101,606.77, an increase of 17.66% from CNY 57,880,973.93 in 2018[24]. - The net cash flow from operating activities was CNY 122,139,938.64, an increase of 8.53% compared to CNY 112,544,821.66 in 2018[24]. - The total assets at the end of 2019 were CNY 1,446,755,090.96, a 38.88% increase from CNY 1,041,739,090.04 at the end of 2018[24]. - The net assets attributable to shareholders at the end of 2019 were CNY 926,764,351.98, up 28.87% from CNY 719,169,232.34 at the end of 2018[24]. - The company achieved operating revenue of CNY 1.13 billion, a year-on-year increase of 16.61%[53]. - The net profit attributable to shareholders reached CNY 72.81 million, reflecting a growth of 13.58% compared to the previous year[53]. - The total distributable profit for 2019 was 358,107,289.16 yuan, with the cash dividend representing 100% of the profit distribution[130]. Dividend Distribution - The company plans to distribute a cash dividend of 1.6 yuan per 10 shares (including tax) to all shareholders, based on a total of 100,526,122 shares[11]. - The cash dividend distributed in 2019 accounted for 22.09% of the net profit attributable to the company's ordinary shareholders, which was 72,811,266.8 yuan[131]. - The company did not distribute any shares as bonus shares in the 2019 fiscal year, opting instead for a capital reserve increase of 3 shares for every 10 shares held[128]. - The cash dividend for 2018 was 1.4 yuan per 10 shares, totaling 14,073,657.08 yuan, which represented 21.95% of the net profit attributable to ordinary shareholders[129]. - The cash dividend for 2017 was 1.3 yuan per 10 shares, totaling 12,136,800 yuan, accounting for 20.03% of the net profit attributable to ordinary shareholders[129]. - The company has consistently maintained a cash dividend payout ratio above 20% over the past three years[131]. - The dividend proposal for 2019 is subject to approval at the shareholders' meeting[128]. - The company has a commitment to maintain a minimum cash dividend payout ratio of 20% during significant capital expenditure phases[130]. Risks and Challenges - The company faces risks related to rising raw material prices and declining product prices, which may impact profitability[7]. - The company is under pressure from strict environmental regulations due to its involvement in the production of hazardous chemicals[8]. - The company has identified risks associated with the implementation of non-public fundraising investment projects, including potential changes in project progress and costs[9]. - The company faces market risks, including potential increases in raw material prices and declines in product prices, which could affect profitability[116]. - The company is under pressure regarding safety and environmental regulations due to its involvement in the production of hazardous chemicals[117]. Operational Expansion and Development - The company reported a rapid expansion in operational scale, which presents new challenges in governance, technological innovation, market development, and capital operations[10]. - The company has invested heavily in research and development, owning 38 patents, enhancing its competitive edge through innovation[44]. - The company aims to enhance the value of phosphorus resources through comprehensive development and purification technology, focusing on sustainable development and economic efficiency[111]. - The company plans to enhance its production capacity and develop new technologies, focusing on wet phosphoric acid purification technology to increase product concentration and expand the range of high-value-added products[112]. - The company plans to invest 100 million RMB in R&D for new technologies over the next two years[135]. Environmental and Social Responsibility - The company emphasizes environmental protection and has not been classified as a key pollutant discharge unit by environmental authorities[192]. - The company has established pollution control facilities with a design efficiency of 95% for the 100,000 tons/year sulfuric acid workshop, which was installed in April 2018 and is operating normally[194]. - The company has completed environmental impact assessments for multiple projects, including a 150,000 tons/year feed-grade calcium hydrogen phosphate expansion project, with approvals received[199]. - The company has actively participated in poverty alleviation efforts, employing 210 registered impoverished households and donating CNY 213,000 to support local development[182][189]. - The company aims to continue fulfilling its social responsibilities and contribute to poverty alleviation in the Dongchuan area in 2020[187]. Governance and Compliance - The company emphasizes the importance of accurate and complete financial reporting, as stated by its management team[5]. - The company has established a commitment to compensate investors for losses incurred due to false records or misleading statements in the prospectus[148]. - The company has implemented new financial instrument standards starting from January 1, 2019, with relevant accounting policy changes approved by the board of directors[154]. - The company has confirmed that there are no significant accounting errors or changes in accounting estimates during the reporting period[152]. - The company has a lock-up period for shares, which will automatically extend by six months under certain conditions[150].

Financial Performance - Net profit attributable to shareholders reached ¥19,354,107.21, a 32.77% increase year-over-year[9] - Operating revenue for the period was ¥288,747,699.96, reflecting an 18.78% growth compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,822,789.51, up 26.99% year-over-year[9] - Basic earnings per share were ¥0.1929, representing a 23.57% increase from the previous year[9] - Total profit increased by 31.37% compared to the same period last year, driven by increased production and sales revenue and decreased financial expenses[27] - Net profit increased by 31.43% compared to the same period last year, attributed to increased production and sales revenue and decreased financial expenses[27] - The company's operating revenue for the current period reached ¥288,747,699.96, an increase of 18.8% compared to ¥243,104,097.09 in the previous period[53] - Operating profit for the current period was ¥23,096,061.05, up 35.9% from ¥17,021,567.01 in the previous period[53] - Net profit for the current period was ¥19,997,559.59, representing a 40.5% increase from ¥14,168,995.48 in the previous period[54] - The total profit for the current period was ¥23,526,540.69, an increase of 41.1% compared to ¥16,670,411.15 in the previous period[53] Assets and Liabilities - Total assets increased to ¥1,380,670,123.51, up 32.54% from the previous year[9] - Total current assets as of September 30, 2019, amounted to CNY 630,921,253.26, up from CNY 435,807,768.37 at the end of 2018[38] - The company's total liabilities increased to CNY 471,956,962.74 from CNY 322,569,857.70 at the end of 2018[41] - Total liabilities decreased to ¥277,554,350.75 from ¥333,611,495.24, a reduction of 16.8%[45] - Total assets increased to ¥1,197,250,607.34, up from ¥1,061,648,623.45, indicating a growth of 12.8% year-over-year[46] - The company's total equity was 719,169,232.34 CNY, consistent with the previous reporting period, reflecting stable ownership value[74] Cash Flow - Cash flow from operating activities for the year-to-date was ¥31,250,599.80, down 55.35% from the previous year[9] - Cash flow from operating activities decreased by 55.35% compared to the same period last year, primarily due to increased cash payments for goods and services[28] - The total cash flow from operating activities was CNY 31,250,599.80, down 55.3% from CNY 69,989,685.08 in Q3 2018[65] - The net cash flow from financing activities was 118,822,808.38 CNY, up from 40,595,700.00 CNY, showing improved financial management[69] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,186[13] - The largest shareholder, Liu Rang, holds 39.65% of the shares, with 31,029,873 shares pledged[13] Research and Development - R&D expenses increased by 60.85% compared to the same period last year, mainly due to increased investment in R&D[27] - Research and development expenses increased to CNY 1,290,782.25, up from CNY 559,190.04 in the same quarter last year, indicating a focus on innovation[61] Government Support - The company received government subsidies amounting to ¥1,213,600.00 during the reporting period[10] Investment Activities - The net cash flow from investment activities was -176,990,380.53 CNY, compared to -154,664,006.22 CNY in the previous period, indicating a decline in investment cash flow[69] - Cash outflow from investment activities totaled 257,804,770.53 CNY, compared to 154,664,006.22 CNY previously, indicating increased investment expenditures[69] Dividend Policy - The company's cash dividend policy was executed, distributing CNY 1.4 per 10 shares, totaling CNY 14,073,657.08[31]

Raw Material Supply and Production Risks - The company reported a significant reliance on raw materials such as phosphate rock, iron sulfide, and sulfuric acid, with phosphate rock being a non-renewable resource and increasingly scarce due to mining difficulties and environmental regulations[6]. - The company does not own its own mines and relies on external procurement for raw materials, which poses a risk to stable production and operational performance[7]. - The fluctuation in raw material prices significantly impacts the company's production costs and profitability, with major raw materials accounting for a high proportion of production costs[7]. - The company plans to expand its production capacity, which will increase the demand for phosphate and sulfur resources, further intensifying the reliance on external suppliers[7]. - The company faces raw material supply risks, particularly with phosphate rock, which is becoming a scarce resource due to mining difficulties and environmental regulations[79]. Financial Performance - Total revenue for the first half of 2019 reached RMB 521,954,088.34, an increase of 24.59% compared to RMB 418,939,805.26 in the same period last year[23]. - Net profit attributable to shareholders was RMB 35,405,968.44, reflecting a growth of 30.70% from RMB 27,089,035.25 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was RMB 33,278,476.13, which is a significant increase of 60.22% compared to RMB 20,769,885.79 in the previous year[23]. - The company's total assets increased by 8.20% to RMB 1,127,126,440.18 from RMB 1,041,739,090.04 at the end of the previous year[24]. - The net assets attributable to shareholders rose by 23.66% to RMB 889,359,053.56 from RMB 719,169,232.34 at the end of the previous year[24]. - Basic earnings per share increased to RMB 0.3604, up 24.19% from RMB 0.2902 in the same period last year[23]. - The weighted average return on equity improved to 4.25%, a slight increase from 4.02% in the previous year[23]. - The net cash flow from operating activities was negative at RMB -190,548.81, an improvement of 90.46% compared to RMB -1,997,824.40 in the same period last year[23]. Investment and Capital Structure - The company has no plans to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[9]. - The registered capital increased from RMB 93,360,000 to RMB 100,526,122 during the reporting period[23]. - The company successfully raised RMB 92.36 million through a private placement, marking a 123.11% increase in cash flow from financing activities[51]. - The company raised a total of RMB 148.86 million through a private placement, with RMB 81.81 million used to replace self-funded investments in projects[68]. - The company plans to change the fundraising project from "100,000 tons/year wet phosphoric acid purification industrial-grade phosphoric acid project" to "150,000 tons/year feed-grade phosphate project" due to significant funding shortfalls[71]. Operational and Management Challenges - The company faces risks related to the loss of core technical personnel, which could adversely affect its competitive advantage in key areas such as low-grade phosphate flotation and sulfuric acid production[7]. - The company is expanding rapidly, which may introduce operational management risks if management cannot adapt to the increased scale[8]. - The company emphasizes the importance of maintaining compliance with national and local environmental standards in its production processes[7]. - Rapid expansion of the company's scale may lead to management risks if operational capabilities do not keep pace with growth demands in resource integration and market development[81]. Technological Advancements and Product Development - The company is focused on enhancing its technological capabilities in the production of phosphoric acid and related products to maintain competitive advantages[7]. - The company has established a unique product line model combining "acid + fertilizer + salt," achieving low-cost and high-quality production of wet-process phosphoric acid[32]. - The production capacity of intermediate phosphoric acid has been improved through technological upgrades and internal optimization, laying a foundation for better product margins[34]. - The company utilizes self-developed technologies to enhance the quality of low-grade phosphate ore, increasing the phosphate content from 20%-25% to 26%-35% and reducing magnesium oxide impurities from 3%-6% to 0.5%-1.2%[38]. - The company has developed solvent extraction technologies for the purification of wet phosphoric acid, which effectively removes impurities and supports the production of industrial-grade phosphoric acid[41]. Market Position and Customer Relationships - The company has become a long-term partner of major domestic feed enterprises such as New Hope Group and Charoen Pokphand Group due to the high quality and cost advantages of its feed-grade phosphates[35]. - The company's feed-grade phosphates are widely used in the poultry and aquaculture industries, with a growing demand driven by the stable growth of China's feed industry[35]. - The international market, particularly South Asia, presents a significant demand for phosphate fertilizers due to population growth and a shortage of phosphate resources[35]. - The company has achieved a good reputation and market presence in regions such as South America, the Middle East, and India for its high-quality heavy calcium phosphate products[35]. Environmental Compliance and Sustainability - Environmental policy changes may lead to increased operational costs due to stricter waste discharge standards, impacting profitability[7]. - The company has implemented a circular economy model, achieving zero discharge by recycling wastewater and utilizing waste heat and gases from production processes[42]. - The company maintains compliance with environmental protection regulations across all construction projects[135]. - The company has implemented pollution control facilities with a design efficiency of 95% for the 100,000 tons/year sulfuric acid workshop, which has been operational since April 2018[132]. Governance and Shareholder Relations - The company has implemented a robust internal control system and governance structure, enhancing operational transparency and investor relations[48]. - The company will not engage in any competitive activities with its own products and business operations[100]. - The company assures that it will not engage in any actions that could harm shareholder interests, including unfairly transferring benefits to other entities[108]. - The company guarantees that its prospectus does not contain any false records or misleading statements, and it will bear legal responsibility for the accuracy of the information provided[109].

Financial Performance - Total revenue for Q1 2019 was CNY 227,994,283.04, an increase of 28.17% compared to CNY 177,881,246.74 in the same period last year[9] - Net profit attributable to shareholders was CNY 12,315,539.32, representing a growth of 48.31% from CNY 8,304,105.59 year-on-year[9] - Net profit excluding non-recurring gains and losses reached CNY 11,064,730.61, up 118.70% from CNY 5,059,215.61 in the previous year[9] - Basic earnings per share increased by 47.47% to CNY 0.1311 from CNY 0.0889 in the same period last year[9] - Operating profit rose to 13.44 million yuan, marking a 36.29% increase from the previous year[24] - Total profit increased by 48.26% year-on-year, reaching 14.61 million yuan[24] - The company reported a total comprehensive income of ¥12,315,539.32, compared to ¥8,304,105.59 in the previous year, marking a 48.1% increase[53] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,281,595,478.45, a 20.72% increase from CNY 1,061,648,623.45 at the end of the previous year[9] - Total liabilities increased to ¥380,186,714.53 from ¥322,569,857.70, an increase of 17.8%[43] - Shareholders' equity rose to ¥880,342,281.51 from ¥719,169,232.34, representing a growth of 22.4%[44] - Current assets increased to ¥656,843,334.97 as of March 31, 2019, up from ¥435,807,768.37 at the end of 2018, representing a growth of 50.7%[41] - Total non-current assets slightly decreased to ¥603,685,661.07 from ¥605,931,321.67, a reduction of 0.4%[42] Cash Flow - The net cash flow from operating activities was CNY -2,861,814.45, an improvement of 93.34% compared to CNY -42,947,990.82 in the same period last year[9] - Total cash inflow from operating activities was 247,074,489.47 yuan, while cash outflow was 249,936,303.92 yuan, resulting in a net cash outflow of 2,861,814.45 yuan[60] - Cash flow from investing activities resulted in a net outflow of -25,037,257.62 yuan, compared to -52,584,738.81 yuan in the previous period[61] - Cash inflow from financing activities was 208,705,086.34 yuan, with a net cash flow of 207,922,086.34 yuan after outflows[61] - The net increase in cash and cash equivalents was 179,722,350.51 yuan, contrasting with a decrease of -38,258,343.91 yuan in the previous period[61] - The company reported a total cash and cash equivalents balance of 217,739,806.24 yuan at the end of the period, up from 101,267,779.23 yuan[65] Shareholder Information - The total number of shares outstanding as of the reporting date was 100,526,122 shares[11] - The total number of ordinary shareholders at the end of the reporting period was 15,976[15] - The largest shareholder, Liu Mang, holds 41.16% of the shares, totaling 41,373,164 shares, with 31,029,873 shares under pledge[15] - The second-largest shareholder, Wei Jiagui, holds 4.36% of the shares, totaling 4,381,425 shares, with 3,286,069 shares under pledge[15] - The company did not conduct any repurchase transactions among the top 10 ordinary shareholders during the reporting period[17] Research and Development - Research and development expenses surged by 114.93% year-on-year, indicating a significant investment in innovation[24] - Research and development expenses rose to ¥886,354.58, a significant increase of 114.5% compared to ¥412,389.97 in Q1 2018[50] Investment and Financing - The total amount of raised funds was ¥35,192.78 million, with ¥769.07 million invested in the current quarter[33] - The cumulative amount of raised funds that have been repurposed reached ¥5,529.59 million, which is 15.71% of the total raised funds[33] - The company has invested a total of ¥21,310.69 million from the raised funds to date[33] - The company has not reported any overdue commitments from actual controllers, shareholders, or related parties during the reporting period[31] - There were no significant changes in the feasibility of investment projects during the reporting period[34] Operational Efficiency - The company achieved operating revenue of 227.99 million yuan, an increase of 28.17% compared to the same period last year[28] - The company reported a 60.19% increase in cash received from sales of goods and services compared to the previous year[26] - Sales revenue from goods and services received was 246,481,202.07 yuan, compared to 153,869,006.49 yuan in the previous period[64] Other Information - The company did not report any non-recurring gains or losses during the reporting period[14] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[37] - The company has not reported any violations regarding external guarantees during the reporting period[36] - The company has not encountered any major difficulties or adverse risk factors affecting future operations during the reporting period[30] - The company has not disclosed any issues or other situations regarding the use of raised funds[35]