江苏正丹化学工业股份有限公司 2020 年第一季度报告全文 江苏正丹化学工业股份有限公司 2020 年第一季度报告 2020-022 2020 年 04 月 1 江苏正丹化学工业股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人曹正国、主管会计工作负责人耿斌及会计机构负责人(会计主管 人员)耿斌声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏正丹化学工业股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 262,368,220.60 | 289,399,508.58 | -9.34% | | 归属于上市公司股东的净利润（元） | 8,169,7 ...

Financial Performance - The company's operating revenue for 2019 was CNY 1,307,682,193.70, an increase of 8.12% compared to CNY 1,209,509,955.67 in 2018[17]. - The net profit attributable to shareholders decreased by 32.96% to CNY 40,446,970.79 from CNY 60,336,801.63 in the previous year[17]. - The net cash flow from operating activities was negative at CNY -103,905,264.70, a decline of 390.53% compared to CNY 35,764,416.92 in 2018[17]. - The total assets at the end of 2019 were CNY 1,690,114,040.42, reflecting a growth of 5.47% from CNY 1,602,449,440.16 in 2018[17]. - The company’s basic earnings per share decreased by 33.33% to CNY 0.08 from CNY 0.12 in 2018[17]. - The weighted average return on net assets was 3.07%, down from 4.60% in 2018[17]. - The company’s net profit after deducting non-recurring gains and losses was CNY 29,907,064.90, a decrease of 32.54% from CNY 44,334,321.29 in 2018[17]. - The company's operating costs increased by 10.51% to CNY 1,162,532,539.67, primarily due to increased product sales leading to higher costs[45]. - The gross profit margin decreased by 1.93% to 11.10% compared to the previous year[49]. Dividend Policy - The profit distribution plan approved by the board includes a cash dividend of 0.2 yuan per 10 shares (tax included) and no bonus shares[5]. - The proposed cash dividend for 2019 is RMB 0.20 per 10 shares, totaling RMB 9,722,518.80, which represents 100% of the profit distribution[94]. - In 2019, the cash dividend amount was 9,722,518.80, representing 24.04% of the net profit attributable to ordinary shareholders[99]. - The cash dividend total for 2019 was significantly lower compared to 2018, indicating a potential shift in dividend policy[99]. - The company reported a commitment to a stable profit distribution policy, emphasizing that cash dividends should account for at least 80% of profits during mature stages without significant capital expenditures[121]. Risk Management - The company acknowledges the risks associated with environmental and safety regulations, which may increase production costs and reduce profit margins in the short term[5]. - The company has a comprehensive management system in place to minimize the occurrence of safety and environmental accidents[5]. - The company is focused on enhancing internal management and budget control to better predict and manage raw material price fluctuations[4]. - The company has outlined potential risks in its future development outlook, including raw material price volatility and tightening environmental regulations[4]. - The company faces risks from macroeconomic fluctuations, which could impact its performance due to its broad distribution across various downstream industries[88]. Research and Development - The company is engaged in the research and development of new products, including vinyl toluene, which is still in the market cultivation stage[27]. - The company plans to continue increasing R&D investment to develop new technologies and products while optimizing existing processes[36]. - The company has developed a continuous oxidation process for producing phthalic anhydride, which improves safety and product quality, and has received multiple awards for its innovations[35]. - The company aims to leverage its advantages in technology and market management to enhance its core competitiveness and become a leading fine chemical enterprise internationally[86]. - The company plans to invest 100 million RMB in research and development for new technologies in the upcoming year[111]. Market Position and Products - The main products include trimellitic anhydride and TOTM, with a focus on high-end environmentally friendly materials and fine chemicals[27]. - The company's main products, including phthalic anhydride and its downstream products, are primarily used in the plasticizer, coating, resin, and insulation material industries, with a steady growth in global demand for phthalic anhydride[31]. - The market for TOTM plasticizers is expanding rapidly due to its excellent thermal resistance and environmental benefits, with increasing domestic demand driven by environmental awareness[32]. - The company’s revenue from phthalic anhydride and its esters accounted for 62.41% of total revenue, amounting to CNY 816,078,430.03[47]. - The sales of environmentally friendly plasticizers continued to grow, expanding market share during the reporting period[43]. Environmental and Safety Initiatives - The company emphasizes the importance of sustainable development and plans to increase investments in safety and environmental protection to mitigate risks associated with stricter regulations[5]. - The company is committed to improving its risk prevention awareness and enhancing its contributions to society through better safety and environmental practices[5]. - The company has implemented pollution prevention facilities, including wastewater treatment stations and incinerators, which are operating normally[182]. - The company has obtained the renewal of its pollutant discharge permit on December 11, 2019[184]. - The company has completed a new emergency plan for environmental incidents, which passed expert review on December 12, 2019[184]. Shareholder Information - The total number of shares is 489,600,000, with 54.38% being limited shares and 45.63% being unrestricted shares[189]. - Domestic legal entities hold 137,700,000 shares, representing 28.13% of total shares[190]. - Foreign investment entities hold 128,520,000 shares, accounting for 26.25% of total shares[190]. - The largest shareholder, Huaxing Investment, holds 28.13% of shares, totaling 137,700,000[192]. - The company has not disclosed any new product developments or market expansion strategies in the recent reports[190]. Strategic Plans - The company plans to continue developing the special fine chemical industry chain around carbon nine aromatics, with projects including a 100,000 tons/year carbon nine aromatics extraction project and a 40,000 tons/year phthalic anhydride project[37]. - The company aims to optimize its product structure by extending the carbon nine aromatic hydrocarbon utilization industry chain, with a new project targeting an annual production of 10,000 tons of pseudocumene[87]. - The company intends to utilize its financing platform for external expansion and seek new breakthroughs through investment and mergers, aligning with its main business[87]. - The company plans to enhance its distribution network, aiming for a 15% increase in efficiency by the end of the next fiscal year[140]. - The company will continue to develop new strategies for market expansion and product innovation[109].

Financial Performance - Net profit attributable to shareholders was ¥10,850,730.91, a decrease of 42.51% year-on-year[8]. - Operating revenue for the period was ¥329,373,094.10, reflecting a growth of 1.80% compared to the same period last year[8]. - Basic earnings per share were ¥0.0223, down 42.23% from the same period last year[8]. - The weighted average return on net assets was 0.83%, a decrease of 0.60% compared to the previous year[8]. - Net profit fell by 45.08% to ¥35.65 million from ¥64.90 million, primarily due to a decline in product sales prices[16]. - The company's net profit for the year-to-date period was CNY 35,645,286.49, down from CNY 64,904,422.34 in the previous year, a decrease of 45%[43]. - The net profit for the current period was CNY 34.80 million, down 46.3% from CNY 64.82 million in the same period last year[47]. - The total comprehensive income attributable to the parent company was CNY 35.65 million, down 45.0% from CNY 64.90 million in the previous period[44]. Cash Flow - The net cash flow from operating activities showed a significant decline, amounting to -¥87,307,761.39, a decrease of 352.11% year-to-date[8]. - Operating cash flow turned negative at -¥87.31 million compared to ¥34.63 million in the previous year, attributed to increased accounts receivable and decreased accounts payable[16]. - The net cash flow from operating activities was negative CNY 87.31 million, compared to a positive CNY 34.63 million in the previous period, indicating a significant decline[51]. - The cash flow from operating activities showed a significant decline, indicating potential challenges in operational efficiency[55]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,676,812,844.53, an increase of 4.64% compared to the end of the previous year[8]. - Total liabilities reached CNY 349,688,611.40, up from CNY 297,505,379.98, indicating a growth of 17.5%[31]. - The company's total equity as of September 30, 2019, was CNY 1,320,544,672.34, compared to CNY 1,305,081,210.35 at the end of 2018, reflecting an increase of 1.2%[32]. - Current assets totaled CNY 998,672,106.17, slightly down from CNY 1,002,883,732.52 at the end of 2018[30]. - Total cash and cash equivalents at the end of the period decreased to 151,707,724.17 CNY from 270,998,437.40 CNY in the previous period[56]. - Total current liabilities were reported at CNY 297,505,379.98, with short-term borrowings of CNY 128,042,400.00[64]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,652[12]. - The largest shareholder, Huaxing Investment, holds 28.13% of the shares, totaling 137,700,000 shares[12]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[13]. Investment Activities - The company reported non-operating income from government subsidies amounting to ¥2,024,102.41[9]. - Investment cash flow also worsened, with a net outflow of -¥230.67 million compared to -¥94.92 million, reflecting changes in cash management for fundraising projects[16]. - The company reported a net cash outflow from investment activities of -240,672,204.82 CNY, an increase from -94,919,400.65 CNY in the previous period[55]. - The total cash outflow for investment activities was 791,869,731.29 CNY, compared to 177,785,632.91 CNY in the previous period[55]. Operational Costs - Total operating costs for Q3 2019 were CNY 318,191,325.13, up from CNY 305,416,348.28, reflecting a year-over-year increase of 4.5%[34]. - The company's total operating costs for the year-to-date period were CNY 891,716,490.85, an increase from CNY 862,185,361.30 in the previous year[41]. - The company's operating costs increased to CNY 836.90 million from CNY 805.33 million, representing an increase of 3.5%[46]. Research and Development - Research and development expenses for Q3 2019 were CNY 7,086,187.77, down from CNY 10,091,641.24 in the same period last year, indicating a reduction of 29.8%[38]. - Research and development expenses for the current period were CNY 22.20 million, slightly decreased from CNY 22.37 million in the previous period[47].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 500 million RMB for the first half of 2019, representing a year-on-year growth of 15%[13] - Total revenue for the reporting period was ¥597,083,734.84, a decrease of 0.69% compared to ¥601,237,363.22 in the same period last year[19] - Net profit attributable to shareholders was ¥24,794,555.58, down 46.14% from ¥46,031,001.85 year-on-year[19] - Net profit after deducting non-recurring gains and losses was ¥19,511,617.63, a decline of 47.50% compared to ¥37,165,423.32 in the previous year[19] - Basic and diluted earnings per share were both ¥0.05, down 44.44% from ¥0.09 year-on-year[19] - The company achieved a revenue of RMB 597,083,734.84, a decrease of 0.69% compared to the previous year[46] - The company reported a net loss of 46,080,000 RMB during the same period, indicating a challenging financial environment[162] Cash Flow and Investments - The net cash flow from operating activities was -¥118,728,444.84, a significant decrease of 266.60% from ¥71,265,195.27 in the same period last year[19] - Cash flow from operating activities showed a significant decline of 266.60%, resulting in a net outflow of RMB 118,728,444.84[46] - The company reported a decrease in cash and cash equivalents by 109,863,547.82 CNY during the period[149] - The cash inflow from investment activities in the first half of 2019 was 464,738,073.31 CNY, compared to 69,035,993.95 CNY in the same period of 2018, showing a substantial increase[145] - The cash outflow from investment activities for the first half of 2019 was 558,012,477.07 CNY, compared to 137,660,669.05 CNY in the first half of 2018, indicating a significant rise in investment expenditures[145] - The net cash flow from financing activities for the first half of 2019 was 101,173,993.01 CNY, a recovery from -82,514,417.53 CNY in the same period of 2018[146] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,637,455,158.55, an increase of 2.18% from ¥1,602,449,440.16 at the end of the previous year[19] - Total liabilities increased to CNY 327,107,573.13 from CNY 297,563,603.73, showing a growth of about 9.9%[128] - The company's equity attributable to shareholders increased slightly to CNY 1,310,347,585.42 from CNY 1,304,885,836.43, a growth of approximately 0.3%[128] - The total liabilities as of the end of the reporting period were CNY 328,204,598.66, compared to CNY 297,505,379.98 at the end of the previous period[132] Operational and Market Position - The company focuses on the carbon nine aromatic hydrocarbon utilization industry chain, developing high-end environmentally friendly new materials and specialty fine chemicals[27] - The company maintains a "factory-to-factory" operational model, ensuring high production efficiency and strong relationships with key customers and suppliers[29] - The company has a leading position in the domestic and global market for phthalic anhydride, leveraging its quality and brand advantages to maintain strong relationships with major industry players[39] Research and Development - The company has been recognized as a "high-tech enterprise" and has established several research and innovation bases, holding 32 authorized patents, including 13 invention patents[34][35] - Research and development investment increased by 23.13% to RMB 15,116,031.84, reflecting the company's commitment to innovation[46] - The company plans to continue investing in R&D and optimizing existing processes, focusing on the development of new technologies and products[36] Risk Management - Direct materials accounted for approximately 80% of the company's main business costs, making raw material price fluctuations a critical risk factor[4] - The company plans to enhance internal management and budget control to mitigate risks associated with raw material price volatility[5] - The company faces risks related to macroeconomic fluctuations, raw material price volatility, and tightening environmental and safety regulations[74][75] - The company has outlined potential risks related to environmental and safety regulations, which could increase production costs and reduce profit margins in the short term[5] Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for this period[6] - The total number of shares is 489,600,000, with 54.38% being restricted shares and 45.63% being unrestricted shares[107] - The largest shareholder, Huaxing Investment, holds 28.13% of the shares, amounting to 137,700,000 shares[109] Compliance and Governance - The half-year report has not been audited[81] - The company has not encountered any violations in the use and management of raised funds[65] - The financial statements were approved by the board of directors on August 15, 2019, ensuring compliance with regulatory requirements[165] - The company operates under the accounting standards set by the Ministry of Finance, adhering to specific guidelines for financial reporting[166] Environmental and Safety Compliance - The company is committed to increasing investments in safety and environmental protection to comply with stricter regulations in the chemical industry[5] - The company is classified as a key pollutant discharge unit by environmental protection authorities[100] - The company has implemented pollution prevention facilities in accordance with environmental impact reports[101]

Financial Performance - Total revenue for Q1 2019 was CNY 289,399,508.58, a decrease of 0.41% compared to CNY 290,583,954.24 in the same period last year[8] - Net profit attributable to shareholders was CNY 9,122,203.25, down 48.80% from CNY 17,816,582.88 year-on-year[8] - Net profit excluding non-recurring items was CNY 5,547,216.96, a decline of 56.03% compared to CNY 12,616,063.22 in the previous year[8] - Basic earnings per share decreased by 50.00% to CNY 0.02 from CNY 0.04 year-on-year[8] - Operating profit for the period was 10,727,890.34 yuan, a decrease of 48.83% from 20,965,189.01 yuan in the same period last year, primarily due to the digestion of high-priced raw material inventory[17] - Net profit for the current period is ¥9,122,203.25, down 48.9% from ¥17,816,582.88 in the previous period[40] - Operating profit decreased to ¥10,727,890.34, a decline of 48.9% compared to ¥20,965,189.01 in the previous period[40] Cash Flow - Net cash flow from operating activities was negative CNY 86,969,829.60, a decrease of 262.36% from CNY 53,564,577.24 in the same period last year[8] - The net cash flow from operating activities was -86,969,829.60 CNY, a significant decline compared to 53,564,577.24 CNY in the previous period, indicating a negative cash flow trend[47] - Total cash outflow from operating activities was 286,245,940.28 CNY, an increase from 253,047,045.63 CNY, reflecting higher operational costs[47] - Cash inflow from financing activities amounted to 102,759,600.00 CNY, up from 30,000,000.00 CNY in the previous period, indicating increased borrowing[52] - The net cash flow from financing activities was 101,626,102.65 CNY, a significant recovery from -48,231,094.57 CNY in the prior year, highlighting improved financial management[52] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,625,088,355.89, an increase of 1.41% from CNY 1,602,449,440.16 at the end of the previous year[8] - Current liabilities rose to CNY 316,879,156.51 from CNY 297,505,379.98, indicating an increase of about 6.5%[36] - Total liabilities remained stable at CNY 316,879,156.51 compared to CNY 297,505,379.98, showing a slight increase of about 6.5%[36] - The company's total equity reached CNY 1,314,213,353.16, up from CNY 1,305,081,210.35, reflecting a growth of about 0.9%[37] Investments and Projects - The cumulative amount of raised funds utilized was 49,487.74 million yuan, with a total raised fund amount of 69,881.91 million yuan[21] - The project for 100,000 tons/year of carbon nine aromatic hydrocarbon efficient extraction distillation has a completion progress of 49.96% as of the report date[21] - The company has initiated the construction of a 40,000-ton/year phthalic anhydride project and a 100,000-ton/year environmentally friendly plasticizer project, both of which are progressing as planned[22] - The total committed investment projects amounted to CNY 69.88 million, with a significant portion allocated to the construction of specialized chemical projects[22] Other Financial Metrics - Financial expenses for the period were 419,738.25 yuan, a significant decrease of 92.55% compared to 5,632,377.20 yuan in the same period last year, mainly due to reduced exchange losses[17] - Investment income for the period was 2,405,386.89 yuan, down 48.61% from 4,681,005.81 yuan in the same period last year, due to a decrease in idle funds available for cash management[17] - Research and development expenses rose to ¥7,821,920.54, an increase of 37.1% from ¥5,700,668.12 in the previous period[38] - Tax expenses for the current period were ¥1,606,166.42, down from ¥3,144,108.45 in the previous period[40] Changes in Working Capital - Accounts receivable increased to approximately CNY 288.57 million from CNY 260.32 million, reflecting a growth of about 10.83%[29] - Inventory decreased significantly from CNY 232.56 million to CNY 184.56 million, representing a reduction of approximately 20.63%[29] - Accounts payable decreased by 53.66% to CNY 71,802,758.15 from CNY 154,947,210.56 at the beginning of the year, mainly due to the settlement of USD forward letters of credit[16] - The ending balance of employee compensation payable was 2,295,699.18 yuan, a decrease of 64.69% from the beginning of the year, mainly due to the payment of last year's year-end bonuses[17]

Financial Performance - The company's operating revenue for 2018 was CNY 1,209,509,955.67, representing a 3.38% increase compared to CNY 1,169,920,193.30 in 2017[17]. - Net profit attributable to shareholders decreased by 44.17% to CNY 60,336,801.63 from CNY 108,062,993.06 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 44,334,321.29, down 51.65% from CNY 91,700,855.77 in 2017[17]. - The net cash flow from operating activities fell by 77.55% to CNY 35,764,416.92, compared to CNY 159,295,772.95 in 2017[17]. - The total assets at the end of 2018 were CNY 1,602,449,440.16, a 3.50% increase from CNY 1,548,195,072.06 at the end of 2017[17]. - The company's basic earnings per share decreased by 50.00% to CNY 0.12 from CNY 0.24 in 2017[17]. - The weighted average return on equity was 4.60%, down 8.40% from 13.00% in the previous year[17]. - The gross profit margin for the petrochemical industry segment was 13.03%, a decrease of 5.06% compared to the previous year[54]. - The company reported a significant increase in investment income, rising by 87.48% to CNY 17,037,565.57, due to effective cash management[49]. Risk Management - The company reported that the main production materials account for approximately 80% of the main business costs, which exposes it to risks from fluctuations in raw material prices[5]. - The company emphasizes the importance of enhancing internal management and budget control to mitigate risks associated with raw material price volatility[5]. - The company plans to strengthen its risk management by closely monitoring price trends of raw materials[5]. - The company acknowledges risks from macroeconomic fluctuations, raw material price volatility, and tightening environmental regulations, and plans to implement measures to mitigate these risks[95][97]. Environmental and Safety Compliance - Environmental and safety regulations are becoming stricter, which may increase production costs and reduce profit margins in the short term[6]. - The company is committed to sustainable development and will increase investments in safety and environmental protection measures[6]. - The company has a comprehensive management system in place to minimize the occurrence of safety and environmental accidents[6]. - The company has constructed and operated pollution prevention facilities in compliance with environmental impact reports, including wastewater treatment stations and incinerators, ensuring normal operation during the reporting period[194]. - All ongoing projects have obtained environmental impact assessment approvals, and completed projects have passed environmental protection inspections, with valid discharge permits[195]. - The company has developed an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[196]. - An environmental self-monitoring plan has been implemented, utilizing both manual and automatic monitoring techniques, with compliance to national environmental monitoring standards[197]. - The company faced a fine of 50,000 yuan due to dust emissions during the crushing of distillation residues, which has been rectified by installing dust covers and enhancing site management[198]. Product Development and Market Position - The main products include phthalic anhydride and dioctyl phthalate, with a new product, vinyl toluene, still in the market cultivation stage[27]. - The company focuses on the comprehensive utilization of carbon nine aromatic hydrocarbon industry chain, aiming to replace traditional low-end materials with high-performance, environmentally friendly new materials[27]. - The company's main products, including phthalic anhydride and its downstream products, are positioned in rapidly growing markets, particularly in the plasticizer and coating industries, driven by increasing domestic demand for environmentally friendly materials[31]. - The company successfully developed new products including DOTP, TNNTM, and TGT, enhancing its technological capabilities[46]. - The company is expanding its production capacity with a 10,000 tons/year phthalic anhydride project and a 10,000 tons/year eco-friendly special plasticizer project[47]. - The company aims to enhance its competitive edge by extending its industrial chain, with projects including a 100,000 tons/year C9 efficient extraction and distillation project and a 40,000 tons/year phthalic anhydride project[38]. Shareholder and Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 0.40 RMB per 10 shares (tax included) to all shareholders[6]. - The total cash dividend, including share repurchase, amounted to RMB 39,453,417.90, representing 65.39% of the net profit attributable to shareholders[106]. - The cumulative undistributed profits at the end of the reporting period were RMB 313,962,765.20[104]. - The cash dividend accounted for 32.23% of the net profit for the year 2018[106]. - The company has a clear and transparent decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[102]. - The company’s profit distribution plan for 2018 is subject to approval at the annual general meeting[105]. - The company has committed to a cash dividend policy where at least 80% of profits will be distributed as cash dividends during mature stages without significant capital expenditures[132]. Research and Development - Research and development expenses amounted to ¥42.16 million, accounting for 3.49% of total operating revenue, an increase from 3.13% in 2017[65]. - The company plans to continue investing in R&D, focusing on new technologies and products, while optimizing existing processes and expanding downstream[37]. - The company has developed a continuous oxidation process for phthalic anhydride production, which improves safety and product quality, and has received multiple awards for its innovative patents[36]. - The company completed several R&D projects, including the development of new catalysts and production processes for phthalic anhydride derivatives, enhancing its technological capabilities[61][63]. Strategic Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[126]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on innovative chemical solutions[127]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2020[128]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 30%[124]. - The company aims to maintain a stable and continuous profit distribution policy, prioritizing cash dividends whenever conditions allow[135].

江苏正丹化学工业股份有限公司 2018 年第三季度报告全文 江苏正丹化学工业股份有限公司 2018 年第三季度报告 2018-078 2018 年 10 月 1 江苏正丹化学工业股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人曹正国、主管会计工作负责人耿斌及会计机构负责人(会计主管 人员)耿斌声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏正丹化学工业股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 3 江苏正丹化学工业股份有限公司 2018 年第三季度报告全文 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,622,919,002.43 | 1,548,195,07 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the first half of 2018, representing a year-on-year growth of 15%[15]. - Total revenue for the reporting period was ¥601,237,363.22, an increase of 3.17% compared to ¥582,752,294.38 in the same period last year[20]. - Net profit attributable to shareholders decreased by 39.53% to ¥46,031,001.85 from ¥76,127,080.59 year-on-year[20]. - Net profit after deducting non-recurring gains and losses fell by 45.22% to ¥37,165,423.32 from ¥67,844,813.27 in the previous year[20]. - Basic and diluted earnings per share dropped by 71.88% to ¥0.09 from ¥0.32 year-on-year[20]. - The company achieved operating revenue of ¥601,237,363.22, a year-on-year increase of 3.17%[45]. - Operating profit for the period was CNY 54,272,660.58, down 32.4% from CNY 80,309,854.29 in the same period last year[144]. - The total profit for the first half of 2018 was CNY 54,164,801.95, compared to CNY 89,561,435.91 in the same period of 2017, marking a significant drop[144]. Cost and Expenses - Operating costs rose by 11.60% to ¥515,019,730.76, primarily driven by significant increases in the prices of main raw materials[45]. - The tightening of environmental and safety regulations is expected to increase production costs in the short term[6]. - Research and development investment decreased by 7.48% to ¥12,276,883.92, reflecting a strategic focus on cost management[45]. - The company reported a decrease in sales expenses to CNY 11,990,448.82 from CNY 10,584,860.63, indicating a strategic focus on cost management[144]. Cash Flow - Operating cash flow increased significantly by 48.89% to ¥71,265,195.27 compared to ¥47,865,672.92 in the same period last year[20]. - Cash flow from operating activities was CNY 498,256,441.65, down from CNY 655,280,717.60 in the previous year, highlighting a decline in cash generation[151]. - The ending balance of cash and cash equivalents was ¥320,475,112.80, down from ¥334,875,961.95 in the previous period, representing a decrease of approximately 4.3%[153]. - Cash inflow from financing activities was ¥42,628,000.00, while cash outflow totaled ¥125,142,417.53, leading to a net cash outflow of ¥82,514,417.53[153]. Investment and Development - The company is actively researching and developing new products to expand its market presence[5]. - The company plans to expand its production capacity with projects including 100,000 tons/year of high-efficiency extraction and distillation of C9 aromatic hydrocarbons and 40,000 tons/year of phthalic anhydride[36]. - The company has developed a continuous oxidation process for producing phthalic anhydride, which is internationally leading and has received national invention patents[34]. - The company is actively engaged in R&D for new products such as glycerol esters of phthalic anhydride and is optimizing existing processes to enhance product quality and production efficiency[35]. Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for this period[7]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[78]. - The company held its annual shareholders' meeting on May 15, 2018, with a participation rate of 75%[77]. - The company distributed a cash dividend of 1.60 RMB per 10 shares and increased capital by 201,600,000 shares, which is a 70% increase in total shares[114]. Environmental and Safety Compliance - The company is focusing on sustainable development by increasing investments in safety and environmental protection measures[6]. - The company is classified as a key pollutant discharge unit, with total COD emissions of 19.70 tons, well below the permitted 56.23 tons[102]. - The company has implemented effective pollution control facilities, ensuring compliance with national environmental standards during the reporting period[104][105]. Risk Management - The company plans to enhance internal management and budget control to mitigate risks associated with raw material price volatility[6]. - The company is committed to improving its risk management strategies in response to potential tax policy changes[6]. - The company faces risks related to macroeconomic fluctuations, with its main products linked to various downstream industries[73]. - The company’s main raw materials account for 80% of its main business costs, making it vulnerable to price fluctuations[74]. Corporate Governance - The company has not encountered any violations in the use and management of raised funds, ensuring compliance with relevant laws and regulations[63]. - There were no major litigation or arbitration matters reported during the reporting period[86]. - The financial report for the first half of 2018 has not been audited[84]. - The company has not faced any media scrutiny during the reporting period[87]. Financial Position - Total assets at the end of the reporting period were ¥1,558,268,503.61, a slight increase of 0.65% from ¥1,548,195,072.06 at the end of the previous year[20]. - Current assets decreased to CNY 1,052,040,465.29 from CNY 1,161,064,860.87, a decline of about 9.4%[135]. - Total liabilities increased slightly to CNY 247,554,712.64 from CNY 237,390,606.90, an increase of about 5.0%[136]. - Owner's equity remained stable at CNY 1,310,713,790.97 compared to CNY 1,310,804,465.16, showing a negligible change[137].

Financial Performance - The company's operating revenue for 2017 was CNY 1,169,920,193.30, an increase of 18.34% compared to CNY 988,602,100.27 in 2016[19]. - The net profit attributable to shareholders decreased by 19.63% to CNY 108,062,993.06 from CNY 134,449,884.30 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 91,700,855.77, down 32.03% from CNY 134,921,164.61 in 2016[19]. - The net cash flow from operating activities increased by 53.34% to CNY 159,295,772.95 from CNY 103,881,077.18 in 2016[19]. - The total assets at the end of 2017 were CNY 1,548,195,072.06, an increase of 81.94% compared to CNY 850,943,256.52 at the end of 2016[19]. - The net assets attributable to shareholders increased by 141.48% to CNY 1,310,804,465.16 from CNY 542,826,853.09 in 2016[19]. - The basic earnings per share decreased by 33.87% to CNY 0.41 from CNY 0.62 in 2016[19]. - The gross profit margin decreased to 18.09%, down 7.07% from the previous year[52]. - The company achieved total revenue of CNY 1,169,920,193.30 in 2017, representing an 18.34% increase compared to CNY 988,602,100.27 in 2016[45]. Dividend and Share Capital - The company reported a profit distribution plan, proposing a cash dividend of 1.60 RMB per 10 shares (tax included) and a capital reserve conversion of 7 shares for every 10 shares held[6]. - The company plans to distribute a cash dividend of RMB 46.08 million, with a payout of RMB 1.6 per 10 shares, and will also increase its share capital by 7 shares for every 10 shares held[100]. - The total number of shares will increase from 288 million to 489.6 million after the capital increase[100]. - In 2017, the cash dividend amount was 46,080,000, accounting for 42.64% of the net profit attributable to ordinary shareholders, which was 108,062,993.06[102]. - The company’s cash dividend policy remains consistent with its articles of association and shareholder return plan, ensuring clarity and compliance[99]. Operational Highlights - The company operates in the fine chemical industry, which is characterized by high technical requirements and complex processes[6]. - The company focuses on the carbon nine aromatic hydrocarbon comprehensive utilization industry chain, developing high-end environmentally friendly new materials and specialty fine chemicals[29]. - The main products include phthalic anhydride and trioctyl trimellitate, with a new product, vinyl toluene, still in the market cultivation stage[29]. - The company’s main production materials include carbon nine aromatics, octanol, pseudocumene, and acetic acid[5]. - The company reported a significant increase in construction in progress, with a year-end balance of ¥162,576,550.31, up 2318.12% from the beginning of the year due to the commencement of IPO commitment projects[34]. Research and Development - The company is actively engaged in R&D for new products and technologies, including the development of triacetin and optimization of existing processes to enhance product quality and production efficiency[38]. - The company aims to expand its product offerings and improve profitability by continuing to invest in R&D and optimizing existing processes[39]. - The company has developed a continuous oxidation process for producing phthalic anhydride, which is internationally leading and has received national invention patents[37]. - Research and development expenses amounted to CNY 36,611,828.48, accounting for 3.13% of total revenue, a slight decrease from 3.30% in 2016[64]. Environmental and Safety Commitments - The company emphasizes the importance of sustainable development and plans to increase investments in safety and environmental protection to mitigate risks associated with stricter regulations[6]. - The company has a comprehensive management system in place to address safety and environmental risks, although it acknowledges that accidents cannot be completely avoided[6]. - The company is focused on enhancing its risk prevention awareness and contributing positively to society through improved safety and environmental practices[6]. - The company maintains compliance with environmental discharge standards, with COD emissions at 158.96 mg/L against a limit of 500 mg/L[187]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[188]. Market Trends and Industry Outlook - The global demand for plasticizers is expected to grow at an annual rate of 3.9%, reaching 10.3 million tons by 2019, with PVC accounting for 80%-90% of consumption[87]. - The domestic plasticizer industry is experiencing rapid growth, but the product structure remains unbalanced, with a high proportion of traditional phthalate plasticizers[88]. - The demand for non-toxic and environmentally friendly plasticizers is increasing due to rising living standards and stricter regulations, particularly in the EU[89]. - The phthalic anhydride industry is projected to maintain rapid growth, supported by the development of downstream industries such as TOTM plasticizers and powder coatings[90]. Corporate Governance and Compliance - The company is committed to maintaining compliance with regulatory commitments and ensuring shareholder interests are protected[102]. - The company will not provide proprietary technology or customer information to competitors[132]. - The company has pledged to compensate for any direct or indirect losses incurred due to breaches of competitive commitments[139]. - The company guarantees not to misuse its position to harm the legitimate rights and interests of shareholders through related party transactions[141]. - The company emphasizes diligence in fulfilling its responsibilities under corporate laws and regulations[139].

Financial Performance - Total revenue for Q1 2018 was CNY 290,583,954.24, a 1.06% increase compared to CNY 287,522,772.18 in the same period last year[8] - Net profit attributable to shareholders decreased by 53.16% to CNY 17,816,582.88 from CNY 38,034,759.73 year-on-year[8] - Net profit excluding non-recurring items fell by 65.95% to CNY 12,616,063.22 compared to CNY 37,050,182.16 in the previous year[8] - Basic and diluted earnings per share dropped by 66.67% to CNY 0.06 from CNY 0.18 year-on-year[8] - The company reported a cumulative net profit decline of 15%-45% for the first half of 2018 due to significant increases in raw material prices compared to the same period last year[28] - The total comprehensive income for Q1 2018 was CNY 17.82 million, compared to CNY 38.03 million in the same quarter last year, reflecting a decrease of approximately 53%[46] Cash Flow and Liquidity - Operating cash flow increased significantly by 1,021.45% to CNY 53,564,577.24 from CNY 4,776,348.52 in the same period last year[8] - The net cash flow from operating activities for Q1 2018 was CNY 53.56 million, significantly higher than CNY 4.78 million in Q1 2017, showing a substantial improvement[49] - The company reported a net cash outflow from investing activities of CNY 85.22 million in Q1 2018, compared to a net outflow of CNY 9.71 million in the same period last year[50] - The cash flow from financing activities showed a net outflow of CNY 48.23 million in Q1 2018, contrasting with a net inflow of CNY 37.50 million in Q1 2017[50] - The ending cash and cash equivalents balance is $318,702,813.81, compared to $233,013,032.20 in the previous period, showing an increase of about 36.8%[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,551,866,447.86, a 0.24% increase from CNY 1,548,195,072.06 at the end of the previous year[8] - The balance of accounts receivable decreased by 59% to CNY 48,783,768.63 from CNY 117,749,006.31 at the beginning of the year[18] - The balance of construction in progress increased by 39% to CNY 226,147,410.67, up from CNY 162,576,550.31 at the beginning of the year[18] - Short-term borrowings decreased by 34% to CNY 90,304,800 from CNY 137,273,600 at the beginning of the year[18] - Accounts payable increased by 57% to CNY 118,243,816.7 from CNY 75,440,268.29 at the beginning of the year[19] Costs and Expenses - Total operating costs for Q1 2018 were CNY 275,741,521.33, up from CNY 243,760,456.33, indicating an increase of about 13.14% year-over-year[41] - Financial expenses rose by 90% to CNY 5,632,377.20 compared to CNY 2,964,412.69 in the same period last year, mainly due to increased exchange losses[20] - The financial expenses for Q1 2018 were CNY 5,632,377.20, significantly higher than CNY 2,964,412.69 in the previous year, marking an increase of approximately 90.06%[42] Risk Factors - The company faces risks from macroeconomic fluctuations, with significant exposure to industries such as environmental plasticizers and automotive sectors[11] - The company is exposed to raw material price volatility, with direct materials accounting for approximately 80% of the main business costs[12] - The company plans to enhance internal management and budget control to mitigate risks associated with raw material price fluctuations[12] Investment and Funding - The company reported investment income of CNY 4,681,005.81, compared to zero in the same period last year, from idle fundraising[20] - Other income amounted to CNY 1,453,400, primarily from government subsidies related to daily operations[20] - The total amount of raised funds was CNY 69,881.91 million, with CNY 1,827.8 million invested in the current quarter[25] - The company has committed to invest a total of ¥698.82 million in various projects, with a significant portion allocated to operational funding[26]