证券代码：300505 证券简称：川金诺 公告编号：2025-044 昆明川金诺化工股份有限公司 第五届董事会第十六次会议决议之公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、董事会召开情况 昆明川金诺化工股份有限公司（以下简称"公司"）第五届董事会第十六次 会议于 2025 年 8 月 14 日在公司会议室召开，会议通知于 2025 年 8 月 4 日以电 子邮件、电话的方式送达。本次会议应到董事 7 人，实到董事 7 人。会议由董事 长刘甍先生主持，以现场书面记名投票和通讯表决结合的方式审议并通过以下议 案，本次会议的召集、召开符合《中华人民共和国公司法》及《公司章程》的规 定。 二、董事会会议审议情况 （一）审议通过《关于公司<2025 年半年度报告>及其摘要的议案》 表决结果：7 票赞成、0 票反对、0 票弃权、0 票回避。 表决结果：7 票赞成、0 票反对、0 票弃权、0 票回避。 具体内容详见公司于 2025 年 8 月 15 日在中国证监会指定的创业板信息披 露平台巨潮资讯网（http://www.cninfo.com.cn）上发布的《 ...

川金诺公告，2025年上半年营业收入17.44亿元，同比增长27.91%。净利润1.77亿元，同比增长 166.51%。公司计划不派发现金红利，不送红股，不以公积金转增股本。 ...

[Part I Important Notes, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides important disclaimers, the report's complete directory, and definitions of key terms for clarity [Important Notes](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board, supervisory board, and senior management guarantee the accuracy and completeness of the semi-annual report, with no cash dividends or share transfers planned for this period - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content, and assume legal responsibility[4](index=4&type=chunk) - Company head Liu Meng, chief accountant Huang Hai, and head of accounting department Wang Shiya declare that the financial report in this semi-annual report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, send bonus shares, or convert capital reserves into share capital[6](index=6&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section lists the report's complete directory structure, covering eight main chapters including important notes, company profile, management discussion, corporate governance, significant events, share changes, bond information, and financial reports - The report contains eight main chapters, covering comprehensive information on the company's operations, financials, governance, and significant matters[9](index=9&type=chunk) - Reference documents include signed financial statements, original drafts of publicly disclosed documents, and original copies of the semi-annual report, available at the company's securities department[11](index=11&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms and company-related entities used in the report, ensuring clear understanding of the content - "The Company" and "Chuanjinnuo" are defined as Kunming Chuanjinnuo Chemical Co., Ltd[13](index=13&type=chunk) - Major subsidiaries listed include Kunming Jingcui, Guangxi Chuanjinnuo Chemical, and Guangxi Chuanjinnuo New Energy[13](index=13&type=chunk) - Core products and processes, such as phosphoric acid (thermal process, wet process), phosphates, feed-grade dicalcium phosphate, and lithium iron phosphate, are explained[13](index=13&type=chunk)[14](index=14&type=chunk) [Part II Company Profile and Key Financial Indicators](index=7&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information, contact details, and a summary of its key financial performance and asset-liability status for the reporting period [Company Profile](index=7&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Kunming Chuanjinnuo Chemical Co., Ltd. (stock code: 300505) is listed on the Shenzhen Stock Exchange, with Liu Meng as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Chuanjinnuo | | Stock Code | 300505 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | 昆明川金诺化工股份有限公司 | | Legal Representative | Liu Meng | [Contact Persons and Information](index=7&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The company's board secretary is Huang Qiuhan, with Su Zhe and Liao Zuolin as securities affairs representatives, and contact details provided for their office in Kunming Contact Information | Position | Board Secretary | Securities Affairs Representative | | :--- | :--- | :--- | | Name | Huang Qiuhan | Su Zhe, Liao Zuolin | | Contact Address | 55th Floor, Building 1 (Twin Stars · Tian Shu), Qicai Yunnan No.1 City, Wulong Street Office, Chenggong District, Kunming City, Yunnan Province | 55th Floor, Building 1 (Twin Stars · Tian Shu), Qicai Yunnan No.1 City, Wulong Street Office, Chenggong District, Kunming City, Yunnan Province | | Phone | 0871-67436102 | 0871-67436102 | | Fax | 0871-67412848 | 0871-67412848 | | Email | hqh@cjnphos.com | ir@cjnphos.com、lzl@cjnphos.com | [Other Information](index=7&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's contact information, information disclosure, or registration details - The company's registered address, office address, website, and email remained unchanged during the reporting period[18](index=18&type=chunk) - Information disclosure and storage locations remained unchanged during the reporting period[19](index=19&type=chunk)[20](index=20&type=chunk) - The company's registration status remained unchanged during the reporting period[21](index=21&type=chunk) [Key Accounting Data and Financial Indicators](index=8&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company's key financial indicators show strong performance, with revenue up 27.91%, net profit attributable to shareholders up 166.51%, and operating cash flow increasing by 423.23% Key Accounting Data and Financial Indicators (Current Reporting Period vs. Prior Year Period) | Indicator | Current Reporting Period (Yuan) | Prior Year Period (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,744,026,015.87 | 1,363,438,809.61 | 27.91% | | Net Profit Attributable to Listed Company Shareholders | 177,495,073.23 | 66,600,053.85 | 166.51% | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-Recurring Gains/Losses) | 166,537,464.74 | 59,797,020.85 | 178.50% | | Net Cash Flow from Operating Activities | 170,952,715.34 | 32,672,559.42 | 423.23% | | Basic Earnings Per Share (Yuan/share) | 0.6457 | 0.2423 | 166.49% | | Diluted Earnings Per Share (Yuan/share) | 0.6457 | 0.2423 | 166.49% | | Weighted Average Return on Net Assets | 6.75% | 2.74% | 4.01% | | **Period-End Indicators** | **Current Period-End (Yuan)** | **Prior Year-End (Yuan)** | **Change** | | Total Assets | 3,669,003,114.48 | 3,609,153,324.48 | 1.66% | | Net Assets Attributable to Listed Company Shareholders | 2,640,256,399.79 | 2,540,802,774.24 | 3.91% | [Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=8&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company reported no differences in net profit or net assets between international/overseas accounting standards and Chinese accounting standards during the period - The company's financial reports for the reporting period show no differences in net profit and net assets under international accounting standards compared to Chinese accounting standards[23](index=23&type=chunk) - The company's financial reports for the reporting period show no differences in net profit and net assets under overseas accounting standards compared to Chinese accounting standards[25](index=25&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=9&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Non-recurring gains and losses totaled 10,957,608.49 Yuan, primarily from government subsidies and other non-operating income and expenses, after tax and minority interest adjustments Non-Recurring Gains and Losses Items and Amounts | Item | Amount (Yuan) | | :--- | :--- | | Government subsidies included in current profit and loss (excluding those closely related to the company's normal operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit and loss) | 8,684,923.13 | | Other non-operating income and expenses apart from the above items | 4,175,055.06 | | Less: Income tax impact | 1,508,279.31 | | Minority interest impact (after tax) | 394,090.39 | | **Total** | **10,957,608.49** | - The company has no other profit and loss items that meet the definition of non-recurring gains and losses, nor has it classified non-recurring gains and losses as recurring gains and losses[27](index=27&type=chunk) [Part III Management Discussion and Analysis](index=10&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section analyzes the company's main business operations, core competencies, financial performance, investment activities, and risk management strategies during the reporting period [Main Business Activities During the Reporting Period](index=10&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company primarily focuses on wet-process phosphoric acid production for feed additives, fertilizers, and purified phosphoric acid, while actively expanding into new energy materials [(I) Industry Sector](index=10&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A) The company operates in the chemical raw materials and chemical products manufacturing sector (C26), focusing on wet-process phosphoric acid for feed additives, fertilizers, and purified phosphoric acid - The company's business revolves around wet-process phosphoric acid technology, with main products being feed additives, fertilizers, and wet-process purified phosphoric acid[29](index=29&type=chunk) - The industry sector is manufacturing, specifically chemical raw materials and chemical products manufacturing (industry code C26)[29](index=29&type=chunk) [(II) Industry Development Status and Trends](index=10&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E7%8E%B0%E7%8A%B6%E5%92%8C%E5%8F%91%E5%B1%95%E8%B6%8B%E5%8A%BF) The phosphochemical industry, driven by diverse applications in agriculture, industry, and new energy, is seeing a shift towards wet-process purified phosphoric acid and rapid growth in lithium iron phosphate for batteries - The phosphochemical industry, based on phosphate rock, produces products widely used in agriculture, industry, new energy, medicine, and food sectors[30](index=30&type=chunk) - Triple superphosphate has growth potential in the global market as a substitute for ordinary calcium fertilizers, and the company has added enriched superphosphate to diversify its product matrix[32](index=32&type=chunk)[33](index=33&type=chunk) - Wet-process purified phosphoric acid is an inevitable trend to replace thermal-process phosphoric acid due to its lower energy consumption, reduced pollution, and lower cost[37](index=37&type=chunk) - Lithium iron phosphate, as a cathode material for lithium-ion batteries, is experiencing rapid demand growth in the new energy vehicle and energy storage industries due to its safety, large capacity, and low cost[38](index=38&type=chunk) [(III) Company's Industry Position](index=12&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E7%9A%84%E8%A1%8C%E4%B8%9A%E5%9C%B0%E4%BD%8D%E6%83%85%E5%86%B5) The company holds a leading position in wet-process phosphoric acid, being the only enterprise in China to mass-produce food-grade purified phosphoric acid using proprietary technology - The company is the only enterprise in China to mass-produce food-grade purified phosphoric acid using proprietary technology, with its technical level on par with industry leaders[39](index=39&type=chunk) - The company's comprehensive capabilities in traditional phosphochemical product manufacturing technology, cost control, and international channels are among the industry's forefront[39](index=39&type=chunk) [(IV) Main Business Activities During the Reporting Period](index=12&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's core business involves producing feed additives, fertilizers, and industrial/food-grade purified phosphoric acid from phosphate rock, utilizing a "production-to-order" model with diverse sales channels - The company's main businesses include feed additives (dicalcium phosphate, monocalcium phosphate), fertilizers (triple superphosphate, enriched superphosphate), and purified phosphoric acid[40](index=40&type=chunk)[41](index=41&type=chunk) - Monocalcium phosphate (MCP) has broad growth potential in aquaculture and livestock feed due to its high water solubility and absorption rate[41](index=41&type=chunk) - The company's production model is primarily "production-to-order," combined with market forecasts for inventory, and sales models include domestic direct sales and distributors, as well as overseas agents and direct sales to global key accounts[49](index=49&type=chunk)[50](index=50&type=chunk) - The company innovatively established a technical service sales model, shifting from selling products to selling solutions, building closer customer relationships[50](index=50&type=chunk) [Analysis of Core Competencies](index=14&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core strengths include flexible product structure, leading wet-process phosphoric acid purification technology, advantageous location, comprehensive resource utilization, a stable team, and strong brand influence [(I) Product Structure Advantage](index=14&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%BA%A7%E5%93%81%E7%BB%93%E6%9E%84%E4%BC%98%E5%8A%BF) The company leverages flexible equipment and process optimization to adjust its product mix based on market demand and gross margins, maximizing profitability and mitigating market risks - The company's equipment selection and process design are highly versatile, allowing flexible adjustment of product structure based on market demand and gross margins to maximize profits[51](index=51&type=chunk) - Both the Dongchuan base and Fangchenggang factory can flexibly switch production between industrial-grade phosphoric acid, food-grade phosphoric acid, 52% phosphoric acid, and triple superphosphate, reducing market risks[51](index=51&type=chunk) [(II) Technological Advantage](index=14&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E6%8A%80%E6%9C%AF%E4%BC%98%E5%8A%BF) The company possesses industry-leading proprietary wet-process phosphoric acid extraction and purification technologies, along with significant advantages in low-grade phosphate rock flotation and integrated new energy material production - The company's independently developed wet-process phosphoric acid purification technology has achieved mass production of industrial-grade and food-grade wet-process purified phosphoric acid, with leading technical indicators in the industry[52](index=52&type=chunk) - Utilizing self-developed technology for flotation of medium and low-grade phosphate rock, the grade is increased from 18%-25% to 26%-33%, significantly reducing impurity content and flotation costs[53](index=53&type=chunk) - The Guangxi Fangchenggang factory uses a hemihydrate-dihydrate method to produce phosphoric acid, achieving a phosphorus recovery rate of over 98%, reducing phosphate rock consumption and phosphorus content in phosphogypsum[53](index=53&type=chunk) - The company extends its industrial chain downstream to new energy materials, using purified phosphoric acid as a bridge, achieving an integrated industrial layout and effectively reducing intermediate costs[53](index=53&type=chunk) [(III) Location and Cost Advantage](index=15&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E5%8C%BA%E4%BD%8D%E5%8F%8A%E6%88%90%E6%9C%AC%E4%BC%98%E5%8A%BF) The company's production bases benefit from rich phosphate rock resources, integrated sulfuric acid supply, and proximity to ports for efficient raw material procurement and product distribution, significantly reducing logistics costs - The Dongchuan production base is rich in surrounding phosphate rock resources, and the company has developed unique beneficiation technology to utilize medium and low-grade phosphate rock[54](index=54&type=chunk) - The Dongchuan base forms a sulfuric acid industry chain partnership with Jinshui Copper Smelter, compensating for insufficient self-produced sulfuric acid[54](index=54&type=chunk) - The Guangxi Chuanjinnuo Chemical production base is located in Fangchenggang City, approximately 20 kilometers from the port, leveraging port advantages for international raw material procurement and sea freight product sales, significantly saving transportation costs[54](index=54&type=chunk) [(IV) Comprehensive Utilization Advantage](index=15&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E7%BB%BC%E5%90%88%E5%88%A9%E7%94%A8%E4%BC%98%E5%8A%BF) The company implements circular economy models at its bases, achieving resource recovery and comprehensive utilization of waste, including wastewater, exhaust gas, and phosphogypsum, which significantly reduces environmental costs and enhances resource efficiency - The Kunming Dongchuan base achieves "zero discharge" through closed-loop wastewater circulation, recovers fluorosilicic acid to replace pH adjusters, and uses phosphate rock slurry to desulfurize sulfur dioxide from sulfuric acid tail gas[55](index=55&type=chunk) - The Guangxi base achieves fully closed-loop wastewater circulation, ultra-low emission of exhaust gas, recovery of fluorine tail gas to produce fluorine salt products, and deep processing of modified phosphogypsum into cement retarder for full disposal[55](index=55&type=chunk) - The company implements graded utilization of phosphate rock (33% P2O5 for triple superphosphate, 28% P2O5 for high-quality phosphoric acid, 23% P2O5 for dicalcium phosphate), graded utilization of phosphoric acid, and efficient utilization of by-products such as phosphogypsum, fluorine tail gas, and iron concentrate[58](index=58&type=chunk) [(V) Stable, Professional, and High-Performing Team](index=16&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%E7%A8%B3%E5%AE%9A%E3%80%81%E4%B8%93%E4%B8%9A%E5%92%8C%E6%9C%89%E6%88%98%E6%96%97%E5%8A%9B%E7%9A%84%E5%9B%A2%E9%98%9F) The company boasts a mature and professional management team with extensive industry experience and foresight, supported by robust internal controls and strong financial management, earning "AAA" credit rating and ISO/FAMI-QS certifications - The company's management team possesses rich technical and management expertise in the phosphochemical industry, with a forward-looking grasp of market and technological development trends[59](index=59&type=chunk) - The company has a sound internal control system and robust financial management, with financial indicators such as asset-liability ratio and current ratio maintained at a stable level[59](index=59&type=chunk) - The company has obtained an "AAA" enterprise credit rating certificate and passed ISO9001:2008 and FAMI-QS product quality management system certifications[59](index=59&type=chunk) [(VI) Brand Competitiveness](index=16&type=section&id=%EF%BC%88%E5%85%AD%EF%BC%89%E5%93%81%E7%89%8C%E7%AB%9E%E4%BA%89%E5%8A%9B) The company has established a strong brand reputation, with "Chuanjinnuo" feed phosphates recognized as a famous trademark and "CJN" triple superphosphate acknowledged internationally for its quality, fostering high-stickiness customer relationships - "Chuanjinnuo" brand feed phosphates are recognized as a well-known trademark in Kunming City and a famous trademark in Yunnan Province[60](index=60&type=chunk) - "CJN" brand triple superphosphate is widely recognized by international customers as the best quality export triple superphosphate from China[60](index=60&type=chunk) - The company has established long-term, stable, and highly sticky cooperative relationships with major domestic and international clients such as New Hope Group, Haid Group, Charoen Pokphand Group, and Cargill[60](index=60&type=chunk) [Main Business Analysis](index=17&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company's main business revenue increased by 27.91%, with significant growth in net profit and operating cash flow, while management and financial expenses also saw notable increases Key Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (Yuan) | Prior Year Period (Yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,744,026,015.87 | 1,363,438,809.61 | 27.91% | | | Operating Cost | 1,449,236,707.51 | 1,200,089,309.92 | 20.76% | | | Administrative Expenses | 61,089,361.10 | 47,153,057.72 | 29.56% | Increase in environmental protection expenses | | Financial Expenses | 3,790,975.43 | -1,673,586.04 | 326.52% | Decrease in interest income, decrease in exchange gains | | Income Tax Expenses | 22,908,837.14 | 12,483,471.37 | 83.51% | Increase in profitability | | R&D Expenses | 11,372,143.11 | 25,054,546.93 | -54.61% | Decrease in capitalized R&D expenses | | Net Cash Flow from Operating Activities | 170,952,715.34 | 32,672,559.42 | 423.23% | Increase in cash received from sales of goods | | Net Cash Flow from Investing Activities | -107,843,324.90 | -62,989,843.39 | -71.21% | Increase in expenditure for phosphogypsum storage facility project | | Net Cash Flow from Financing Activities | -125,965,417.48 | -69,594,522.84 | -81.00% | Increase in cash dividends paid | Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (Yuan) | Operating Cost (Yuan) | Gross Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Feed-grade Phosphates | 417,092,049.11 | 343,673,696.97 | 17.60% | 23.40% | 19.35% | 2.79% | | Phosphate Fertilizers | 398,849,318.15 | 281,093,234.89 | 29.52% | 55.83% | 20.88% | 20.38% | | Phosphoric Acid | 895,783,457.98 | 807,447,584.60 | 9.86% | 22.01% | 22.12% | -0.08% | - The company's profit composition or sources of profit did not undergo significant changes during the reporting period[63](index=63&type=chunk) [Non-Core Business Analysis](index=18&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Non-core business activities had a minor impact on total profit, primarily stemming from investment income, non-operating income/expenses, government subsidies, and credit impairment losses, mostly non-recurring in nature Non-Core Business Items and Impact | Item | Amount (Yuan) | Proportion of Total Profit | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | -61,369.34 | -0.03% | Payment of 6+9 bank bill discount fees | No | | Non-Operating Income | 4,385,539.95 | 2.10% | Income from disposal of scrap materials | No | | Non-Operating Expenses | 149,115.55 | 0.07% | External donations | No | | Other Income | 8,684,923.13 | 4.15% | Receipt of government subsidies | No | | Credit Impairment Losses | -1,801,537.85 | -0.86% | Provision for doubtful accounts on receivables | No | [Analysis of Assets and Liabilities](index=18&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's total assets and net assets attributable to shareholders increased, with notable changes in cash, fixed assets, construction in progress, short-term borrowings, contract liabilities, and other non-current assets Significant Changes in Asset Composition | Item | Amount at Current Period-End (Yuan) | Proportion of Total Assets | Amount at Prior Year-End (Yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 625,746,767.25 | 17.05% | 736,429,466.16 | 20.40% | -3.35% | Increase in expenditure for phosphogypsum storage facility project and cash dividends | | Fixed Assets | 1,326,077,149.00 | 36.14% | 1,389,503,456.07 | 38.50% | -2.36% | Depreciation provision according to depreciation policy | | Construction in Progress | 221,816,553.42 | 6.05% | 186,814,695.26 | 5.18% | 0.87% | | | Short-term Borrowings | 405,591,536.11 | 11.05% | 340,736,998.42 | 9.44% | 1.61% | Increase in bank loans obtained | | Contract Liabilities | 70,053,622.52 | 1.91% | 32,084,741.04 | 0.89% | 1.02% | Increase in advance payments received for goods | | Other Non-current Assets | 157,147,195.81 | 4.28% | 51,957,207.09 | 1.44% | 2.84% | Payment for land for phosphogypsum storage facility project | | Non-current Liabilities Due Within One Year | 113,169,447.72 | 3.08% | 227,740,157.71 | 6.31% | -3.23% | Decrease in long-term borrowings due within one year | Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (Yuan) | Fair Value Change in Current Period (Yuan) | Cumulative Fair Value Change Included in Equity (Yuan) | Amount Purchased in Current Period (Yuan) | Amount Sold in Current Period (Yuan) | Ending Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 0.00 | 0.00 | 0.00 | 36,000,000.00 | 0.00 | 36,000,000.00 | | Derivative Financial Assets | 0.00 | 0.00 | 983,513.69 | 0.00 | 0.00 | 983,513.69 | | Accounts Receivable Financing | 73,237,761.38 | 0.00 | 0.00 | 156,296,519.36 | 175,389,275.38 | 54,145,005.36 | | **Total Above** | **73,237,761.38** | **0.00** | **983,513.69** | **192,296,519.36** | **175,389,275.38** | **91,128,519.05** | | Financial Liabilities | 1,050,954.68 | 0.00 | -1,050,954.68 | 0.00 | 0.00 | 0.00 | Asset Rights Restricted at the End of the Reporting Period | Item | Carrying Amount at Period-End (Yuan) | Carrying Amount at Period-Beginning (Yuan) | Type of Restriction | Restriction Details | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 305,463,092.06 | 357,641,571.18 | Frozen | Time deposits and business freezes | | Notes Receivable | 78,488,756.30 | 80,577,966.22 | Endorsed or discounted and not yet due | Bank acceptance bills endorsed but not yet derecognized at year-end | | Intangible Assets | 67,069,091.44 | 67,848,964.62 | Mortgage | Mortgage for long-term borrowings | | **Total** | **451,020,939.80** | **506,068,502.02** | | | [Investment Analysis](index=20&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's investments increased significantly, primarily in new energy materials projects, with a portion of raised funds reallocated to the "Chuanjinnuo (Egypt) Suez Phosphochemical Project" to optimize capital utilization [1. Overall Situation](index=20&type=section&id=1.%E3%80%81%E6%80%BB%E4%BD%93%E6%83%85%E5%86%B5) The company's total investment for the reporting period was 145,804,324.90 Yuan, representing a 154.91% increase compared to the previous year Investment Amount for the Reporting Period | Indicator | Investment Amount for Reporting Period (Yuan) | Investment Amount for Prior Year Period (Yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Investment Amount | 145,804,324.90 | 57,197,297.73 | 154.91% | [2. Significant Equity Investments Acquired During the Reporting Period](index=20&type=section&id=2.%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%8E%B7%E5%8F%96%E7%9A%84%E9%87%8D%E5%A4%A7%E7%9A%84%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84%E6%83%85%E5%86%B5) The company did not acquire any significant equity investments during the reporting period - The company did not acquire any significant equity investments during the reporting period[74](index=74&type=chunk) [3. Significant Non-Equity Investments in Progress During the Reporting Period](index=21&type=section&id=3.%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%AD%A3%E5%9C%A8%E8%BF%9B%E8%A1%8C%E7%9A%84%E9%87%8D%E5%A4%A7%E7%9A%84%E9%9D%9E%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84%E6%83%85%E5%86%B5) The company is undertaking several new energy material projects, with cumulative investments totaling 275.44 million Yuan and expected returns of 530 million Yuan, though construction progress is being controlled due to market changes Significant Non-Equity Investments in Progress | Project Name | Investment Method | Industry Involved in Investment Project | Cumulative Actual Investment Amount as of Period-End (Yuan) | Project Progress | Estimated Return (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | 50,000 tons/year Battery-grade Lithium Iron Phosphate Precursor Material Iron Phosphate and Supporting 600,000 tons/year Sulfuric Acid Project from Sulfur | Self-built | Chemical, New Energy | 144,437,144.00 | 19.92% | 131,000,000.00 | | 100,000 tons/year Battery-grade Lithium Iron Phosphate Cathode Material Project | Self-built | New Energy | 21,173,001.39 | 1.63% | 399,000,000.00 | | 100,000 tons/year Battery-grade Lithium Iron Phosphate Precursor Material Iron Phosphate Project | Self-built | New Energy | 109,834,475.11 | 13.73% | 0.00 | | **Total** | | | **275,444,620.50** | | **530,000,000.00** | - Due to changes in the new energy market competitive landscape and market conditions, the company has prudently decided to control the progress of industrial construction[76](index=76&type=chunk) [4. Financial Assets Measured at Fair Value](index=21&type=section&id=4.%E3%80%81%E4%BB%A5%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E8%AE%A1%E9%87%8F%E7%9A%84%E9%87%91%E8%9E%8D%E8%B5%84%E4%BA%A7) At the end of the reporting period, the company's financial assets measured at fair value primarily consisted of financial derivatives, totaling 175,732,207.19 Yuan, funded by operating cash receipts Financial Assets Measured at Fair Value | Asset Category | Initial Investment Cost (Yuan) | Cumulative Fair Value Change Included in Equity (Yuan) | Amount Purchased in Current Period (Yuan) | Amount Sold in Current Period (Yuan) | Ending Balance (Yuan) | Source of Funds | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Financial Derivatives | 97,113,111.24 | 2,032,087.19 | 364,825,921.80 | 286,206,825.85 | 175,732,207.19 | Operating business receipts | | **Total** | **97,113,111.24** | **2,032,087.19** | **364,825,921.80** | **286,206,825.85** | **175,732,207.19** | | [5. Use of Raised Funds](index=22&type=section&id=5.%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) The company utilized 35.96% of its 2023 raised funds, with 445.15 million Yuan reallocated from new energy materials to the "Chuanjinnuo (Egypt) Suez Phosphochemical Project" to enhance capital efficiency Overall Use of Raised Funds | Fundraising Year | Fundraising Method | Total Raised Funds (10,000 Yuan) | Net Raised Funds (10,000 Yuan) | Cumulative Used Raised Funds (10,000 Yuan) | Raised Funds Utilization Rate | Cumulative Amount of Raised Funds with Changed Use (10,000 Yuan) | Proportion of Cumulative Amount of Raised Funds with Changed Use | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 2023 | Issuance of shares to specific targets | 71,099.99 | 69,506 | 24,991.45 | 35.96% | 44,514.54 | 64.04% | - The company's board of directors and supervisory board held meetings on June 24, 2025, to review and approve the "Proposal on Changing the Use of Raised Funds," reallocating all uninvested raised funds from the original new energy materials project to the "Chuanjinnuo (Egypt) Suez Phosphochemical Project"[83](index=83&type=chunk)[91](index=91&type=chunk) - The reason for the change is that due to changes in the new energy market competitive landscape and market conditions, the company has prudently decided to control the progress of industrial construction to improve the efficiency of raised fund utilization[87](index=87&type=chunk) [6. Wealth Management, Derivative Investments, and Entrusted Loans](index=27&type=section&id=6.%E3%80%81%E5%A7%94%E6%89%98%E7%90%86%E8%B4%A2%E3%80%81%E8%A1%8D%E7%94%9F%E5%93%81%E6%8A%95%E8%B5%84%E5%92%8C%E5%A7%94%E6%89%98%E8%B4%B7%E6%AC%BE%E6%83%85%E5%86%B5) The company did not engage in wealth management or entrusted loans but conducted forward foreign exchange contracts for hedging purposes, with a period-end investment of 175.73 million Yuan, aiming to mitigate exchange rate risks - The company did not engage in wealth management or entrusted loans during the reporting period[92](index=92&type=chunk)[97](index=97&type=chunk) Derivative Investments for Hedging Purposes | Derivative Investment Type | Initial Investment Amount (10,000 Yuan) | Beginning Balance (10,000 Yuan) | Cumulative Fair Value Change Included in Equity (10,000 Yuan) | Amount Purchased in Current Period (10,000 Yuan) | Amount Sold in Current Period (10,000 Yuan) | Ending Balance (10,000 Yuan) | Proportion of Ending Investment Amount to Company's Net Assets at Period-End | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Forward Foreign Exchange Contracts | 9,711.31 | 9,711.31 | 203.21 | 36,482.59 | 28,620.68 | 17,573.22 | 6.52% | - The company conducts forward foreign exchange settlement and sales business to reduce the impact of exchange rate fluctuations on profits, with a profit and loss amount of 1.07 million Yuan during the reporting period, but incurred some exchange losses due to significant exchange rate fluctuations[94](index=94&type=chunk) [Significant Asset and Equity Disposals](index=28&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not undertake any significant asset or equity disposals during the reporting period - The company did not sell any significant assets during the reporting period[99](index=99&type=chunk) - The company did not sell any significant equity during the reporting period[100](index=100&type=chunk) [Analysis of Major Holding and Participating Companies](index=29&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) Guangxi Chuanjinnuo Chemical Co., Ltd., a major subsidiary, reported total assets of 1,781.35 million Yuan, net assets of 846.03 million Yuan, revenue of 1,115.16 million Yuan, and net profit of 138.17 million Yuan, significantly impacting the company's overall net profit Financial Performance of Major Holding Subsidiary | Company Name | Company Type | Main Business | Registered Capital (10,000 Yuan) | Total Assets (10,000 Yuan) | Net Assets (10,000 Yuan) | Operating Revenue (10,000 Yuan) | Operating Profit (10,000 Yuan) | Net Profit (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Guangxi Chuanjinnuo Chemical Co., Ltd. | Subsidiary | Production and sales of chemical products, fertilizers, etc. | 55,396 | 178,134.62 | 84,603.31 | 111,516.19 | 14,904.06 | 13,816.83 | [Structured Entities Controlled by the Company](index=29&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[102](index=102&type=chunk) [Risks Faced by the Company and Countermeasures](index=29&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company addresses risks related to safety, environmental protection, supply chain, operations, exchange rates, and overseas investments through enhanced management, market monitoring, hedging, and strategic project execution - The company faces safety and environmental risks, which are managed through improved systems, training, and circular economy models[101](index=101&type=chunk)[102](index=102&type=chunk) - Supply chain risks primarily involve fluctuations in raw material prices and logistics costs, which the company addresses by strengthening cooperation with suppliers and improving production technology to reduce reliance[103](index=103&type=chunk)[104](index=104&type=chunk) - Exchange rate fluctuation risks are mitigated by engaging in forward foreign exchange settlement and sales, though the risk of exchange losses still exists[106](index=106&type=chunk) - Overseas investment (Egypt phosphochemical project) carries risks of underperformance, which the company plans to address by forming a professional team, proceeding at a measured pace, and flexibly responding to market changes[107](index=107&type=chunk) [Registration Form for Investor Relations Activities During the Reporting Period](index=30&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) The company hosted four investor relations activities, including site visits and online discussions, covering performance, market prices, overseas investments, risk management, and raw material supply - The company conducted four investor relations activities during the reporting period, including on-site surveys and online communication[108](index=108&type=chunk) - Survey content covered various aspects such as company performance, market prices, progress of overseas investment projects, risk response, and raw material supply[108](index=108&type=chunk)[109](index=109&type=chunk) [Implementation of Market Value Management System and Valuation Enhancement Plan](index=31&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not establish a market value management system or disclose a valuation enhancement plan during the reporting period - The company did not establish a market value management system[109](index=109&type=chunk) - The company did not disclose a valuation enhancement plan[109](index=109&type=chunk) [Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=31&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E2%80%9C%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%E2%80%9D%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period - The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan[109](index=109&type=chunk) [Part IV Corporate Governance, Environment, and Society](index=32&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section details changes in the company's governance, profit distribution, employee incentives, environmental disclosures, and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=32&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) There were no changes in the company's directors, supervisors, or senior management during the reporting period - The company's directors, supervisors, and senior management did not change during the reporting period[111](index=111&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital for the Reporting Period](index=32&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company plans no cash dividends, bonus shares, or capital reserve conversions to share capital for this semi-annual period - The company plans not to distribute cash dividends, send bonus shares, or convert capital reserves into share capital for the semi-annual period[112](index=112&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=32&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company did not implement equity incentive or employee stock ownership plans but established employee shareholding platforms for its subsidiary's core members to enhance team execution and shared values - The company did not implement equity incentive and employee stock ownership plans[113](index=113&type=chunk)[114](index=114&type=chunk) - The company established "Fangchenggang Lingyun" and "Kunming Lingrong" as employee shareholding platforms, allowing core members of its controlling subsidiary, Guangxi Chuanjinnuo Chemical, to also be shareholders, thereby strengthening team execution[114](index=114&type=chunk) - In 2023, the company acquired 1.3655% equity in Guangxi Chuanjinnuo Chemical held by Kunming Lingrong and Fangchenggang Lingyun for 22.53 million Yuan, increasing the company's shareholding to 93.64%[117](index=117&type=chunk) [Environmental Information Disclosure](index=34&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its major subsidiaries are included in the list of enterprises required to disclose environmental information, with public access to their respective reports - Kunming Chuanjinnuo Chemical Co., Ltd. and Guangxi Chuanjinnuo Chemical Co., Ltd. are both included in the list of enterprises required to disclose environmental information by law[118](index=118&type=chunk) - The inquiry index URLs for the environmental information disclosure reports of both companies are provided[118](index=118&type=chunk) [Social Responsibility](index=34&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company upholds a culture of integrity and technological innovation, focusing on corporate governance, investor protection, environmental sustainability, employee welfare, and active participation in poverty alleviation and rural revitalization - The company adheres to a culture of "integrity and technology-driven enterprise," committed to improving corporate governance and protecting investor interests[119](index=119&type=chunk) - Through technological innovation, the company achieves circular economy goals in phosphate rock flotation, wet-process phosphoric acid purification, pyrite sulfuric acid production, energy saving, and environmental protection[120](index=120&type=chunk) - The company strictly complies with the "Labor Law" and "Labor Contract Law," providing welfare benefits and social insurance for employees[123](index=123&type=chunk) - The company actively responds to national calls, recruits impoverished individuals for employment, and donates to consolidate poverty alleviation achievements[125](index=125&type=chunk) [Part V Significant Matters](index=36&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers the fulfillment of commitments, related party transactions, litigation, penalties, and other significant events impacting the company [Fulfillment of Commitments by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During and After the Reporting Period](index=36&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) The company and its actual controller, Liu Meng, fulfilled all commitments made during initial public offerings or refinancing, including share repurchases, avoiding competition, standardizing related-party transactions, and ensuring fund non-occupation - The company and its actual controller Liu Meng committed that if the prospectus contains false records, misleading statements, or major omissions, they will repurchase all newly issued shares and compensate investors for losses[127](index=127&type=chunk)[131](index=131&type=chunk) - Liu Meng committed to avoiding horizontal competition, standardizing related-party transactions, preventing fund occupation, and ensuring that controlled enterprises do not compete with the company[127](index=127&type=chunk)[129](index=129&type=chunk) - The company's directors, supervisors, senior management, and controlling shareholders committed not to transfer benefits without compensation, restrict job-related consumption, not use company assets for unrelated investments or consumption, and link compensation systems to return enhancement measures[129](index=129&type=chunk)[131](index=131&type=chunk) - All commitments were fulfilled on time, with no overdue unfulfilled commitments[133](index=133&type=chunk) [Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties](index=40&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) There was no non-operating occupation of listed company funds by controlling shareholders or other related parties during the reporting period - During the reporting period, there was no non-operating occupation of listed company funds by controlling shareholders or other related parties[134](index=134&type=chunk) [Irregular External Guarantees](index=40&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[135](index=135&type=chunk) [Appointment and Dismissal of Accounting Firms](index=40&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was not audited - The company's semi-annual report was not audited[136](index=136&type=chunk) [Board of Directors, Supervisory Board, and Audit Committee's Explanation of "Non-Standard Audit Report" for the Current Period](index=40&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E3%80%81%E5%AE%A1%E8%AE%A1%E5%A7%94%E5%91%98%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no non-standard audit report for the current period, thus no explanation is required - The company had no non-standard audit report during the reporting period[137](index=137&type=chunk) [Board of Directors' Explanation of "Non-Standard Audit Report" for the Previous Year](index=40&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no non-standard audit report for the previous year, thus no explanation is required - The company had no non-standard audit report for the previous year during the reporting period[137](index=137&type=chunk) [Bankruptcy and Reorganization Matters](index=40&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company did not experience any bankruptcy or reorganization matters during the reporting period - The company did not experience any bankruptcy or reorganization matters during the reporting period[137](index=137&type=chunk) [Litigation Matters](index=41&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) While no major litigation occurred, the company is involved in several procurement contract disputes totaling over 84.37 million Yuan, with some cases resolved and others pending trial - The company had no major litigation or arbitration matters during the reporting period[138](index=138&type=chunk) Other Litigation Matters | Basic Information of Litigation (Arbitration) | Amount Involved (10,000 Yuan) | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | | :--- | :--- | :--- | :--- | | Guangxi Chuanjinnuo New Energy vs. Zhongke Lithium Battery New Energy Sales Contract Dispute | 6,156.42 | Effective legal documents obtained | Contract terminated, Zhongke Lithium Battery to refund 15.4 million Yuan, compensate 4.29 million Yuan, and pay 40,000 Yuan for preservation insurance; Zhongke Lithium Battery has partially fulfilled repayment obligations, and the company is actively pursuing recovery | | Guangxi Chuanjinnuo New Energy sues Xiaoxian Xinhuiyuan Battery Co., Ltd. and others for procurement contract disputes | 133.1 | Lawsuit filed, not yet heard | Not yet heard | | Guangxi Chuanjinnuo New Energy sues Hubei Qianyuan New Material Co., Ltd. and others for procurement contract disputes | 2,148 | Lawsuit filed, not yet heard | Not yet heard | [Penalties and Rectification](index=42&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) Subsidiary Guangxi Chuanjinnuo Chemical Co., Ltd. received two fines for using uninspected export dangerous goods packaging, totaling 10,481 Yuan, and has completed rectification Penalties | Name/Entity | Type | Reason | Type of Investigation and Penalty | Conclusion (if any) | | :--- | :--- | :--- | :--- | :--- | | Guangxi Chuanjinnuo Chemical Co., Ltd. | Other | Use of export dangerous goods packaging containers not inspected and appraised by entry-exit inspection and quarantine agencies | Other | Fined RMB 2,085 | | Guangxi Chuanjinnuo Chemical Co., Ltd. | Other | Use of export dangerous goods packaging containers not inspected and appraised by entry-exit inspection and quarantine agencies | Other | Fined RMB 8,396 | - Rectification has been completed as required[139](index=139&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=42&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) The company, its controlling shareholder, and actual controller maintained good integrity during the reporting period, with no instances of dishonesty - During the reporting period, there were no instances of the company, its controlling shareholder, or actual controller failing to fulfill commitments, being subject to administrative regulatory measures by the China Securities Regulatory Commission, or receiving disciplinary action from a stock exchange[140](index=140&type=chunk) [Significant Related-Party Transactions](index=42&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company had no significant related-party transactions concerning daily operations, asset/equity sales, joint investments, or debt, but its controlling shareholder provided a 450 million Yuan guarantee for a subsidiary's bank credit line - During the reporting period, the company had no related-party transactions concerning daily operations, asset or equity acquisitions/disposals, joint external investments, related-party creditor-debtor relationships, or dealings with affiliated financial companies[140](index=140&type=chunk)[141](index=141&type=chunk)[142](index=142&type=chunk)[143](index=143&type=chunk)[144](index=144&type=chunk)[145](index=145&type=chunk) - Controlling shareholder Liu Meng provided a joint and several liability guarantee for the controlling subsidiary Guangxi Chuanjinnuo Chemical's application for a comprehensive credit line not exceeding 450 million Yuan from China Construction Bank, without charging a guarantee fee[146](index=146&type=chunk) [Significant Contracts and Their Performance](index=44&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had no major entrustment, contracting, or leasing agreements, but provided significant guarantees for its subsidiary, Guangxi Chuanjinnuo Chemical Co., Ltd., totaling 525.92 million Yuan, representing 19.92% of net assets - The company had no entrustment, contracting, or leasing matters during the reporting period[148](index=148&type=chunk)[149](index=149&type=chunk)[150](index=150&type=chunk) Company Guarantees for Subsidiaries | Name of Guaranteed Party | Guarantee Limit (10,000 Yuan) | Actual Guarantee Amount (10,000 Yuan) | Guarantee Type | Fulfilled | Related Party Guarantee | | :--- | :--- | :--- | :--- | :--- | :--- | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 45,000 | 15,000 | Mortgage | No | Yes | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 5,000 | 0 | | Yes | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 5,000 | 0 | | Yes | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 12,000 | 5,000 | | No | No | | Guangxi Chuanjinnuo New Energy Co., Ltd. | 10,000 | 0 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 15,000 | 8,000 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 20,000 | 5,000 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 5,000 | 5,000 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 5,000 | 5,000 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 8,300 | 0 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 24,000 | 7,303.54 | | No | No | | Guangxi Chuanjinnuo Chemical Co., Ltd. | 24,000 | 2,288.84 | | No | No | | **Total Actual Guarantee Balance for Subsidiaries at Period-End** | | **52,592.38** | | | | | **Proportion of Total Actual Guarantee to Company's Net Assets** | | **19.92%** | | | | - The company had no other significant contracts during the reporting period[158](index=158&type=chunk) [Explanation of Other Significant Matters](index=48&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company signed an investment agreement for a 350 million Yuan industrial waste disposal project in Kunming and approved a large-scale "Chuanjinnuo (Egypt) Suez Phosphochemical Project," reallocating some raised funds for its development - The company signed a "Project Investment Agreement" with the People's Government of Dongchuan District, Kunming City, to construct the Heliwan Industrial Waste Residue Centralized Disposal Project, with a total investment of approximately 350 million Yuan[159](index=159&type=chunk) - The company approved an external investment to construct the "Chuanjinnuo (Egypt) Suez Phosphochemical Project," including an 800,000 tons/year sulfuric acid from sulfur plant and a 300,000 tons/year industrial wet-process crude phosphoric acid project[160](index=160&type=chunk) - The company has reallocated a portion of the raised funds from the original new energy materials project to the "Chuanjinnuo (Egypt) Suez Phosphochemical Project"[160](index=160&type=chunk) [Significant Matters of Company Subsidiaries](index=48&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E5%AD%90%E5%85%AC%E5%8F%B8%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) There were no significant matters concerning the company's subsidiaries during the reporting period - There were no significant matters concerning the company's subsidiaries during the reporting period[161](index=161&type=chunk) [Part VI Share Changes and Shareholder Information](index=49&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details the company's share capital structure, changes in shareholdings, and information on its major shareholders and their equity interests [Share Fluctuation](index=49&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) The company's total share capital remained unchanged at 274,867,523 shares, with no alterations in the structure of restricted or unrestricted shares during the reporting period Share Fluctuation | Share Type | Quantity Before This Change (shares) | Proportion Before This Change | Net Increase/Decrease in This Change (shares) | Quantity After This Change (shares) | Proportion After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 57,506,301 | 20.92% | 0 | 57,506,301 | 20.92% | | Of which: Shares held by domestic natural persons | 57,506,301 | 20.92% | 0 | 57,506,301 | 20.92% | | II. Unrestricted Shares | 217,361,222 | 79.08% | 0 | 217,361,222 | 79.08% | | Of which: RMB Ordinary Shares | 217,361,222 | 79.08% | 0 | 217,361,222 | 79.08% | | **III. Total Shares** | **274,867,523** | **100.00%** | **0** | **274,867,523** | **100.00%** | Changes in Restricted Shares | Shareholder Name | Restricted Shares at Period-Beginning (shares) | Restricted Shares Released in Current Period (shares) | Restricted Shares Increased in Current Period (shares) | Restricted Shares at Period-End (shares) | Reason for Restriction | Planned Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Meng | 54,273,376 | 0 | 0 | 54,273,376 | Senior management lock-up shares | 25% released annually | | Wei Jiagui | 3,184,568 | 0 | 0 | 3,184,568 | Senior management lock-up shares | 25% released annually | | Hong Hua | 48,357 | 0 | 0 | 48,357 | Senior management lock-up shares | 25% released annually | | **Total** | **57,506,301** | **0** | **0** | **57,506,301** | | | [Securities Issuance and Listing](index=51&type=section&id=%E4%BA%8C%E3%80%81%E8%AF%81%E5%88%B8%E5%8F%91%E8%A1%8C%E4%B8%8E%E4%B8%8A%E5%B8%82%E6%83%85%E5%86%B5) The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing activities during the reporting period[170](index=170&type=chunk) [Number of Shareholders and Shareholding Structure](index=51&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) At the end of the reporting period, the company had 35,341 common shareholders, with Liu Meng holding the largest stake at 26.33%, including 54,273,376 restricted shares - The total number of common shareholders at the end of the reporting period was 35,341[171](index=171&type=chunk) Top 10 Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held at Period-End (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Meng | Domestic Natural Person | 26.33% | 72,364,501.00 | 54,273,376.00 | 18,091,125.00 | | Liu Mingyi | Domestic Natural Person | 1.46% | 4,023,172.00 | 0 | 4,023,172.00 | | Kunming Shunlong Energy Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.28% | 3,528,581.00 | 0 | 3,528,581.00 | | Wei Jiagui | Domestic Natural Person | 1.18% | 3,246,091.00 | 3,184,568.00 | 61,523.00 | | Tang Wei | Domestic Natural Person | 0.91% | 2,500,000.00 | 0 | 2,500,000.00 | | Tang Jiapu | Domestic Natural Person | 0.83% | 2,290,286.00 | 0 | 2,290,286.00 | | Lü Liangfeng | Domestic Natural Person | 0.46% | 1,251,519.00 | 0 | 1,251,519.00 | | Jiangsu Xixi Huamu Market Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 0.45% | 1,250,000.00 | 0 | 1,250,000.00 | | Chen Chaohai | Domestic Natural Person | 0.39% | 1,060,050.00 | 0 | 1,060,050.00 | | Guotai Haitong Securities Co., Ltd. Agreed Repurchase Special Account | Other | 0.33% | 900,000.00 | 0 | 900,000.00 | - Some of the top 10 shareholders hold company shares through margin trading and securities lending accounts, such as Tang Wei, Lü Liangfeng, Chen Chaohai, and Shen Shuo[175](index=175&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=54&type=section&id=%E5%9B%9B%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) During the reporting period, Director and General Manager Wei Jiagui reduced his shareholding by 1,000,000 shares, while other directors, supervisors, and senior management maintained unchanged holdings Changes in Shareholdings of Directors, Supervisors, and Senior Management | Name | Position | Employment Status | Shares Held at Period-Beginning (shares) | Shares Reduced in Current Period (shares) | Shares Held at Period-End (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Wei Jiagui | Director, General Manager | Current | 4,246,091 | 1,000,000 | 3,246,091 | | **Total** | | | **4,246,091** | **1,000,000** | **3,246,091** | [Changes in Controlling Shareholder or Actual Controller](index=54&type=section&id=%E4%BA%94%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E6%88%96%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5) There were no changes in the company's controlling shareholder or actual controller during the reporting period - The company's controlling shareholder did not change during the reporting period[178](index=178&type=chunk) - The company's actual controller did not change during the reporting period[178](index=178&type=chunk) [Preferred Shares Information](index=55&type=section&id=%E5%85%AD%E3%80%81%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[179](index=179&type=chunk) [Part VII Bond-Related Information](index=56&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[181](index=181&type=chunk) [Part VIII Financial Report](index=57&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited semi-annual financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, along with detailed notes on accounting policies and financial items [Audit Report](index=57&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[183](index=183&type=chunk) [Financial Statements](index=57&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the 2025 semi-annual period - Financial statements include the consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated cash flow statement, parent company cash flow statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[184](index=184&type=chunk)[190](index=190&type=chunk)[193](index=193&type=chunk)[198](index=198&type=chunk)[202](index=202&type=chunk)[204](index=204&type=chunk)[207](index=207&type=chunk)[220](index=220&type=chunk) [Company Basic Information](index=80&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Kunming Chuanjinnuo Chemical Co., Ltd., established in 2005 with Liu Meng as controlling shareholder, specializes in R&D, production, and sales of phosph

Group 1 - The company has confirmed its collaboration with Kunming Shunlong Energy Co., Ltd. as part of its investor interactions [2] - Kunming Shunlong Energy Co., Ltd. is listed as one of the top ten shareholders of the company according to the Q1 2025 report [2]

Group 1 - The core point of the article highlights that Chuanjinnuo's stock closed at 21.72 yuan on August 5, experiencing a decline of 0.73% from the previous trading day, with a trading volume of 536 million yuan and a turnover rate of 11.34% [1] - Chuanjinnuo specializes in the research, production, and sales of phosphate chemical products, including phosphoric acid and calcium hydrogen phosphate, and is categorized within the fertilizer industry sector [1] - The company anticipates achieving a net profit of 168 million to 188 million yuan in the first half of 2025, representing a year-on-year growth of 152.25% to 182.28%, which introduces a new concept of "2025 mid-year profit increase" [1] Group 2 - On August 5, the net outflow of main funds was 20.64 million yuan, accounting for 0.44% of the circulating market value, while the cumulative net inflow over the past five trading days reached 66.30 million yuan, representing 1.4% of the circulating market value [1]

证券之星消息，8月5日农化制品板块较上一交易日上涨0.34%，丰山集团领涨。当日上证指数报收于 3617.6，上涨0.96%。深证成指报收于11106.96，上涨0.59%。农化制品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603810 | 丰山集团 | 17.27 | 3.85% | 3.14万 | 5362.57万 | | 002734 | 利民股份 | 21.88 | 2.87% | 59.84万 | 12.96ZZI | | 000422 | 湖北宣化 | 13.54 | 2.19% | 27.13万 | 3.63亿 | | 000902 | 新洋丰 | 14.40 | 1.91% | 10.80万 | 1.55亿 | | 300387 | 富邦科技 | 9.54 | 1.81% | 9.53万 | 9061.10万 | | 002545 | 东方铁塔 | 9.86 | 1.75% | 11.65万 | 1.15亿 | | 002470 | 金正大 | 1.7 ...

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