HBYH(SZ:000422)2020-10-20 16:00Financial Performance - The company's operating revenue for 2019 was ¥14,660,024,897.32, representing a 14.42% increase compared to ¥12,812,265,269.37 in 2018[24] - The net profit attributable to shareholders of the listed company decreased by 38.84% to ¥164,393,911.64 from ¥268,776,992.11 in the previous year[24] - The basic earnings per share dropped by 60.00% to ¥0.092 from ¥0.2300 in the previous year[24] - The company reported a quarterly revenue of ¥4,152,984,706.94 in Q4 2019, with a net profit of ¥51,743,040.67 attributable to shareholders[29] - The net profit for 2019 was CNY 164 million, a decrease of 38.84% from the previous year[50] - The company faced significant challenges in profitability, as indicated by the negative net profit after deducting non-recurring gains and losses, which amounted to -¥666,793,260.29[24] - The weighted average return on net assets decreased to 17.09% from 29.69% in the previous year, reflecting a decline of 12.60%[24] Cash Flow and Investments - The net cash flow from operating activities surged by 1,257.89% to ¥2,253,870,395.91, up from ¥165,983,658.27 in 2018[24] - The company reported a net cash flow from operating activities of CNY 2,253,870,395.91, a significant increase of 1,257.89% compared to the previous year[75] - The net cash flow from financing activities decreased by 513.55% year-on-year, due to reduced cash received from borrowings and other financing-related cash inflows[78] - The net increase in cash and cash equivalents decreased by 261.25% year-on-year, primarily due to the decline in net cash flow from financing activities[78] - Investment income amounted to ¥369,293,123.79, accounting for 275.14% of total profit, mainly from the disposal of equity in subsidiaries and interest income from entrusted loans[79] - Non-operating income reached ¥256,680,420.77, representing 191.24% of total profit, primarily from government subsidies unrelated to daily activities[79] Assets and Liabilities - Total assets at the end of 2019 were ¥23,125,148,634.95, a decrease of 3.35% from ¥23,927,353,989.84 at the end of 2018[24] - The net assets attributable to shareholders of the listed company fell by 84.62% to ¥166,994,697.29 from ¥1,085,691,384.08 in 2018[24] - Short-term borrowings decreased by 15.41% to ¥5,744,853,082.84, while long-term borrowings increased by 19.32% to ¥5,911,317,056.33[84] - The total amount of cash and cash equivalents at the end of the period was ¥2,662,852,458.07, which is 11.51% of total assets[84] Revenue Breakdown - Fertilizer products generated ¥6,718,195,528.20 in revenue, accounting for 45.83% of total revenue, with a significant year-on-year growth of 53.53%[52] - Chemical products revenue decreased by 4.95% to ¥6,660,073,640.43, representing 45.43% of total revenue[52] - Domestic sales amounted to ¥12,420,941,377.41, making up 84.73% of total revenue, with an 11.85% increase from the previous year[55] - International sales increased by 31.16% to ¥2,239,083,519.91, representing 15.27% of total revenue[55] Production and Sales - The company sold 3,206,391.29 tons of fertilizer, a 67.18% increase from 1,917,914.81 tons in 2018[57] - The company achieved a fertilizer production of 2.05 million tons in 2019, completing 107.89% of the annual plan, and chemical product production of 1.7 million tons, completing 130.77% of the annual plan[112] - The company plans to produce 2.4 million tons of fertilizer and 1.6 million tons of chemical products in 2020, with a revenue target of 10.5 billion yuan[112] Environmental Responsibility - The company operates two pollution discharge outlets, with a total sulfur dioxide emission of 107.097 tons for the year, well below the approved limit of 847.18 tons per annum[191] - The company has implemented strict environmental standards, with sulfur dioxide emissions at 62 mg/m³, significantly lower than the standard of 200 mg/m³[191] - The company has demonstrated a commitment to environmental protection by not exceeding any pollution discharge limits during the reporting period[191] Social Responsibility - The company provided assistance to 74 registered impoverished households, totaling 161 individuals, with investments of CNY 80 million in infrastructure and CNY 21.8 million in industry support[182] - All 74 households successfully escaped poverty and passed relevant assessments in 2019[183] - The company is committed to ensuring that impoverished individuals achieve sustainable poverty alleviation without falling back into poverty[188] Acquisitions and Subsidiaries - The company acquired 100% of Xinjiang Tianyun Chemical Co., Ltd. for ¥76,980,100.00 in December 2019[64] - The company established new subsidiaries, including Hubei Yihua International Trade Co., Ltd. and Hubei Xinyi Chemical Co., Ltd., holding 100% and 51% stakes respectively[66] - The company disposed of equity in subsidiaries, resulting in a loss of control over certain entities, with proceeds from the sale amounting to CNY 136,489,620.00 for Xinyi Mining[65] Research and Development - Research and development expenses increased by 269.55% to CNY 484,127,059.06, representing 3.30% of operating revenue[74] - The company completed 11 out of over 20 R&D projects aimed at improving production efficiency and reducing emissions, expected to generate annual benefits of CNY 98 million[73] Guarantees and Financial Management - The total approved external guarantee amount at the end of the reporting period was 257,011 million, with actual remaining guarantees of 162,283 million[162] - The company reported no violations regarding external guarantees during the reporting period[176] - The company did not engage in entrusted financial management during the reporting period[177]