北京市中伦（上海）律师事务所 关于济南圣泉集团股份有限公司 2022 年限制性股票激励计划预留授予部分第一期解除限 售及回购注销部分限制性股票 相关事项的法律意见书 二〇二四年九月 本所根据《公司法》《证券法》《管理办法》等现行的法律、法规、行政规章和规 范性文件的规定，以及《公司章程》《济南圣泉集团股份有限公司2022年限制性股票激 励计划》（以下简称"《激励计划》"），按照律师行业公认的业务标准、道德规范和 勤勉尽责精神，本所就圣泉集团本次解除限售及本次回购注销相关事项出具法律意见。 本所仅就与本次解除限售及本次回购注销有关的中华人民共和国境内（以下简称 1 北京市中伦（上海）律师事务所 关于济南圣泉集团股份有限公司 2022 年限制性股票激励计划预留授予部分第一期解除限售及 回购注销部分限制性股票 相关事项的法律意见书 致：济南圣泉集团股份有限公司（圣泉集团） 根据本所与圣泉集团签署的《律师服务合同》，作为圣泉集团本次股权激励计划的 专项法律顾问，本所根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、中国证券监督管理委员会（以下 简称"中国证监 ...

部分限制性股票通知债权人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、通知债权人的原由 济南圣泉集团股份有限公司（以下简称"圣泉集团"、"公司"） 于 2024 年 9 月 11 日召开第九届董事会第三十一次会议及第九届监事 会第二十五次会议，审议通过了《关于回购注销 2022 年限制性股票 激励计划部分限制性股票的议案》，具体内容详见公司于 2024 年 9 月 12 日披露的《圣泉集团关于回购注销 2022 年限制性股票激励计划部 分限制性股票的公告》。 证券代码：605589 证券简称：圣泉集团 公告编号：2024-061 济南圣泉集团股份有限公司 关于回购注销 2022 年限制性股票激励计划 债权申报方式： 1、债权申报登记地点：山东省济南市章丘区刁镇工业经济开发 区圣泉集团办公楼二楼证券部 2、申报时间：2024 年 9 月 12 日-2024 年 10 月 26 日（上午 9:00-11:30，下午 13:30-17:00） 3、联系人：巩先生 4、联系电话：0531-83501353 特此公告。 济 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2024 年 9 月 23 日(星期一)下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址：http://roa dshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 9 月 12 日(星期四)至 9 月 20 日(星期五 )16:0 0 前登录上证路演中心网站首页点击"提问预征集"栏目或通过济南 圣泉集团股份有限公司（以下简称"公司"）邮箱 sqzqb@shengquan. com 进行提问。公司将在信息披露允许的范围内，在说明会上对投资 者普遍关注的问题进行回答。 公司已于 2024 年 8 月 24 日发布公司 2024 年半年度报告，为便 于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务 状况，公司计划于 2024 年 9 月 23 日下午 16:00-17:00 举行 2024 年 半年度业绩说明会，就投资者关心的问题进行交流。 证券代码：60558 ...

证券代码：605589 证券简称：圣泉集团 公告编号：2024-054 一、 回购股份的基本情况 济南圣泉集团股份有限公司（以下简称"公司"）于 2024 年 7 月 23 日召开第九届董事会第二十九次会议，审议通过了《关于公司以集 中竞价交易方式回购股份方案的议案》，同意公司使用自有资金以集中 竞价交易方式回购公司股票用于员工持股计划或股权激励，回购金额 不低于人民币 15,000 万元（含）且不超过人民币 25,000 万元（含）， 回购价格不超过人民币 24.00 元/股，回购股份的实施期限为自公司董 事会审议通过之日起 12 个月内。具体内容详见公司于 2024 年 7 月 24 日在上海证券交易所网站（www.sse.com.cn）披露的《圣泉集团关于以 集中竞价交易方式回购公司股份的方案》。 二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监 管指引第 7 号——回购股份》等相关法律法规的规定，在回购股份期 间，公司应当在每个月的前 3 个交易日内披露截至上月末的回购进展 情况，现将公司回购股份的进展情况公告如下： 济南圣泉集团股份有限公司 关于以集中竞价交易方式 ...

公司简称：圣泉集团 股票代码:605589 最新聞文 2024年半年度报告 济南圣泉集团股份有限公司 Jinan Shengquan Group Share-Holding Co.,Ltd 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人唐一林、主管会计工作负责人张亚玲及会计机构负责人（会计主管人员）唐才学 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本年度报告内容涉及的未来计划、规划等前瞻性陈述，因存在不确定性，不构成公司对投资 者的实质承诺，请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完 ...

Financial Performance - Net profit attributable to shareholders increased by 7.30% to CNY 137,384,664.57 year-on-year[15] - Net profit attributable to shareholders after deducting non-recurring gains and losses rose by 23.40% to CNY 126,186,313.33[15] - Operating revenue for the first quarter was CNY 2,135,458,772.50, reflecting a growth of 5.11% compared to the same period last year[15] - Net profit for Q1 2024 was RMB 140,636,926.12, compared to RMB 131,073,637.45 in Q1 2023, reflecting a growth of approximately 7.0%[30] - Total profit for Q1 2024 was RMB 172,087,626.21, compared to RMB 163,679,505.54 in Q1 2023, an increase of about 5.0%[30] - The company reported a comprehensive income of CNY 141.01 million, compared to CNY 129.36 million in the previous year, indicating an increase of 9.0%[46] Assets and Liabilities - Total assets increased by 9.63% to CNY 14,752,640,532.20 compared to the end of the previous year[7] - The company’s equity attributable to shareholders increased by 11.13% to CNY 10,144,299,385.23 compared to the end of the previous year[7] - Current assets totaled CNY 7.38 billion, an increase of 20% from CNY 6.16 billion in the previous year[41] - Total liabilities reached CNY 4.15 billion, a rise of 6.9% from CNY 3.88 billion[42] - Current liabilities totaled CNY 3.54 billion, increasing by 16.7% from CNY 3.04 billion[41] - Long-term borrowings decreased to CNY 208.71 million from CNY 428.56 million, a decline of 51.3%[42] - Shareholders' equity rose to CNY 10.61 billion, up 10.7% from CNY 9.58 billion[42] Cash Flow - The company reported a net cash flow from operating activities of -CNY 158,234,181.30, indicating a negative cash flow situation[15] - Cash inflow from operating activities totaled RMB 2,706,418,858.48 in Q1 2024, compared to RMB 1,681,889,574.00 in Q1 2023, showing a significant increase of approximately 61.0%[33] - The net cash flow from operating activities was negative at RMB -158,234,181.30 in Q1 2024, worsening from RMB -50,047,422.45 in Q1 2023[33] - The company’s cash outflow for operating activities increased to RMB 2,864,653,039.78 in Q1 2024, compared to RMB 1,731,936,996.45 in Q1 2023, reflecting an increase of about 65.4%[33] - Net cash generated from subsidiaries and other operating units amounted to $20,464,464.92[49] - Total cash outflow from investing activities was $231,873,019.66, compared to $108,605,248.85 in the previous period[49] - Net cash flow from investing activities was -$152,631,366.10, a decrease from $15,111,951.15 in the prior period[49] - Cash inflow from financing activities totaled $1,384,593,218.14, up from $208,586,666.65 previously[49] - Net cash flow from financing activities was $1,066,241,438.96, compared to -$122,194,909.35 in the last period[49] - Cash and cash equivalents increased by $754,316,901.32, contrasting with a decrease of $153,337,113.27 in the previous period[49] - The ending balance of cash and cash equivalents reached $1,595,974,631.65, up from $648,095,087.16[49] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 31,697[9] - Basic and diluted earnings per share remained stable at CNY 0.17[46] Expenses - Total operating costs increased to RMB 1,969,106,471.33 in Q1 2024 from RMB 1,861,426,276.20 in Q1 2023, marking an increase of about 5.8%[28] - Research and development expenses rose to RMB 109,989,147.44 in Q1 2024, up from RMB 100,430,259.88 in Q1 2023, indicating an increase of about 9.5%[30] - The company reported a decrease in financial expenses, with interest expenses dropping to RMB 6,998,936.86 in Q1 2024 from RMB 10,782,772.06 in Q1 2023, a reduction of approximately 35.0%[30] - Cash paid for debt repayment was $170,051,446.47, down from $277,770,301.93[49] - Cash paid for dividends, profits, or interest was $67,972,281.22, compared to $11,001,385.46 previously[49] Investment Performance - The company’s investment income showed a loss of RMB -14,344,656.92 in Q1 2024, compared to a loss of RMB -1,928,840.23 in Q1 2023, indicating a significant decline in investment performance[30] - Non-recurring gains and losses totaled CNY 11,198,351.24 for the quarter[18] Other Financial Metrics - The weighted average return on net assets decreased by 0.05 percentage points to 1.45%[15] - Basic earnings per share for the quarter was CNY 0.17, unchanged from the previous year[15] - Inventory increased to CNY 1.47 billion, reflecting a growth of 3.7% compared to CNY 1.41 billion[40] - Accounts receivable rose to CNY 2.16 billion, up 19.9% from CNY 1.80 billion[40] - The impact of exchange rate changes on cash and cash equivalents was -$1,058,990.23, compared to $3,793,267.38 in the prior period[49]

关于公司 2022 年限制性股票激励计划首次授予部分 第一个解除限售期解除限售暨上市公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 证券代码：605589 证券简称：圣泉集团 公告编号：2024-036 济南圣泉集团股份有限公司 本次股票上市类型为股权激励股份；股票认购方式为网下，上市 股数为 3,154,000 股。 本次股票上市流通总数为 3,154,000 股。 本次股票上市流通日期为 2024 年 5 月 7 日。 2024 年 4 月 18 日，济南圣泉集团股份有限公司（以下简称"公 司"）召开第九届董事会第二十六次会议及第九届监事会第二十二次会 议，审议通过了《关于公司 2022 年限制性股票激励计划首次授予部分 第一期解除限售条件成就的议案》，经审议，公司 2022 年限制性股票 激励计划（以下简称"本激励计划"、"本次激励计划"或"《激励计划》"） 首次授予部分第一期解除限售条件已经成就，公司同意为符合解除限 售条件的 612 名激励对象办理相关限制性股票解除限售事宜。本次解 除限售的 ...

北京国枫律师事务所 关于济南圣泉集团股份有限公司 2022 年限制性股票激励计划第一次解除限售及 回购注销部分限制性股票相关事项的 法律意见书 国枫律证字|2022|AN199-5 号 北京市东城区建国门内大街 26 号新闻大厦 7 层 邮编: 100005 电话(Tel):010-88004488/66090088 - 传真(Fax): 010-66090016 北京国枫律师事务所 关于济南圣泉集团股份有限公司 2022 年限制性股票激励计划第一次解除限售及 回购注销部分限制性股票相关事项的 法律意见书 国枫律证字[2022]AN199-5 号 GRANDWAY 北京国枫律师事务所 Grandway Law Offices 致:济南圣泉集团股份有限公司 根据本所与圣泉集团签署的《律师服务合同》,本所作为圣泉集团本次激励 计划的专项法律顾问,已根据相关法律、法规、规章和规范性文件的规定,并按 照律师行业公认的业务标准、道德规范和勤勉尽责精神出具了《北京国枫律师事 务所关于济南圣泉集团股份有限公司2022年限制性股票激励计划(草案)的法律 意见书》《北京国枫律师事务所关于济南圣泉集团股份有限公司2022年限制性 ...

济南圣泉集团股份有限公司 2023 年度 募集资金年度存放与使用情况鉴证报告 | 索引 | | 页码 | | --- | --- | --- | | 鉴证报告 | | 1-2 | | 关于募集资金 2023 | 年度存放与使用情况的专项报告 | 1-7 | 联系申话: 3永中和会计师事务所| 北京市东城区朝阳门北大街 8 号富华大厦 A 座 9 层 certified public accountants 9/F Block A Fri Hua Man 募集资金年度存放与使用情况鉴证报告 XYZH/2024QDAA3F0026 济南圣泉集团股份有限公司 济南圣泉集团股份有限公司全体股东: 我们对后附的济南圣泉集团股份有限公司(以下简称圣泉集团)关于募集资金 2023 年度存放与使用情况的专项报告(以下简称募集资金年度存放与使用情况专项报告)执 行了鉴证工作。 圣泉集团管理层的责任是按照上海证券交易所相关规定编制募集资金年度存放与 使用情况专项报告。这种责任包括设计、实施和维护与募集资金年度存放与使用情况专 项报告编制相关的内部控制,保证募集资金年度存放与使用情况专项报告的真实、准确 和完整,以及不存在由于舞弊 ...

Earnings and Financial Performance - The company's basic earnings per share (EPS) for 2023 was 1.02 yuan, an increase of 12.09% compared to 2022[31] - The diluted EPS for 2023 was also 1.02 yuan, reflecting the same 12.09% growth compared to the previous year[31] - Revenue for 2023 was RMB 9.12 billion, a decrease of 4.98% year-over-year, while net profit attributable to shareholders was RMB 789 million, an increase of 12.23% year-over-year[52] - Net profit attributable to shareholders of the listed company in 2023 was 789,409,556.87 yuan, an increase of 12.23% compared to 2022[74] - Net cash flow from operating activities in 2023 was 850,714,858.14 yuan, a significant increase of 562.32% compared to 2022[74] - The company's operating income for 2023 was 9,119,530,536.67 yuan, a decrease of 4.98% compared to 2022[74] - Revenue for 2023 was 3,352,938,194.92 yuan, a decrease from 3,931,422,154.79 yuan in 2022[166] - Net profit for 2023 was 402,979,082.62 yuan, down from 543,592,296.29 yuan in 2022[167] - The company's revenue in the fourth quarter of 2023 was 2,427,476,794.79 yuan, the highest among all quarters[76] - Net profit attributable to shareholders in the fourth quarter of 2023 was 307,668,353.50 yuan, significantly higher than other quarters[76] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 4.00 yuan per 10 shares, totaling 338,619,599.20 yuan, with a cash dividend payout ratio of 42.90%[37] Return on Equity (ROE) - The weighted average return on equity (ROE) for 2023 was 8.97%, an increase of 0.43 percentage points from 2022[31] Anode Materials and Sodium-Ion Batteries - The global shipment of anode materials reached 1.818 million tons in 2023, a year-on-year increase of 16.8%, with China accounting for 94.1% of the global market[11] - The company has developed a hard carbon anode material for sodium-ion batteries with a capacity of over 350mAh/g, achieving a breakthrough in industry bottlenecks[16] - The company has built a 10,000-ton hard carbon anode production line, supporting the development of sodium-ion batteries[16] - The company's hard carbon precursor for sodium-ion batteries has a capacity of over 350mAh/g and a first-cycle efficiency of ≥90%[97] - The Daqing Shengquan project has an annual production capacity of 150,000 tons of hard carbon precursor, supporting sodium-ion battery industrialization[97] - The sodium-ion battery market in China is projected to reach nearly 30GWh by 2025, with a market size of approximately 15 billion yuan[102] Phenolic Resin and Electronic Chemicals - The company has successfully developed high-purity liquid phenolic resin for chip packaging and special phenolic resin for packaging substrates and ABF laminates, enhancing market competitiveness[14] - The company's electronic-grade phenolic resin and specialty epoxy resin have achieved domestic substitution, with increasing market share in the semiconductor and PCB industries[9] - Phenolic resin industry (excluding electronic chemicals) achieved revenue of RMB 3.523 billion, a year-over-year increase of 1.02%, with sales volume reaching 489,200 tons, up 26.28% year-over-year[53] - The company's phenolic resin production capacity reached 648,600 tons/year, ranking among the world's top in terms of scale and technology[59] - The company's electronic chemicals business advanced in domestic substitution, with several bottleneck products receiving terminal customer certification and achieving commercial supply[64] - The company successfully developed and mass-produced multiple high-end electronic chemicals, including special electronic resins, phenol biphenyl epoxy, and KrF photoresist supporting PHS resin[82] - The company successfully achieved mass production of special electronic resins for 5G/6G communication PCB boards in 2023, which has passed terminal customer certification and is currently in short supply. Expansion plans are underway, with production expected to commence in Q2 2024[118] Biomass and Green Products - The biomass industry saw a substantial increase in xylose and L-arabinose production, strengthening the company's strategic layout in the xylose-xylitol sector[55] - The company's functional sugar and sugar alcohol products obtained multiple certifications, including carbon footprint, non-GMO, and plant-based certifications, enhancing competitiveness and brand recognition[55] - The company developed biomass resin carbon from straw, with a low calorific value exceeding 5000 kcal/kg, which can be used as a substitute for coal-based fuels or further processed into battery hard carbon materials, high-activity lignin, and bio-methanol[161] - The global first million-ton "Shengquan Method" plant straw refining integrated project (Phase I) has been fully put into operation in Daqing, Heilongjiang, processing 500,000 tons of straw annually and producing a series of green bio-based products[124] - The company's "100,000 tons/year biomass refining integration (Phase I) project" in Daqing has been fully operational since May[158] R&D and Innovation - The company's R&D efforts in green phenolic resins and conductive phenolic resins for electrolytic aluminum anodes have contributed to energy-saving and carbon reduction in the industry[13] - The company made significant progress in the field of new maleimide resins, achieving batch supply and initiating a 1,000-ton/year maleimide resin project[65] - The company's R&D efforts are forward-looking, focusing on synthetic resins and their applications, and actively participating in customer production optimization and new product development processes[136] - R&D expenses for 2023 were 178,335,633.91 yuan, a decrease from 188,553,898.24 yuan in 2022[167] Financial Position and Assets - Total assets at the end of the reporting period were RMB 13.457 billion, with total liabilities of RMB 3.879 billion and a debt-to-asset ratio of 28.83%[52] - The company's total assets increased by 7.70% to 13.46 billion yuan in 2023[144] - The company's net assets attributable to shareholders increased by 7.67% to 9.13 billion yuan in 2023[144] - The company's monetary funds increased to 1,025,474,851.86 yuan in 2023 from 860,184,060.30 yuan in 2022[180] - Accounts receivable increased to 1,800,082,724.02 yuan in 2023 from 1,561,725,559.35 yuan in 2022[180] - Inventory increased to 1,413,863,911.69 yuan in 2023 from 1,343,963,522.70 yuan in 2022[180] - Total assets increased to 13,456,934,935.35 RMB, up from 12,495,132,175.90 RMB in the previous year[181][182] - Total current assets rose to 6,155,551,843.67 RMB, compared to 5,674,141,023.34 RMB in the prior year[181] - Fixed assets grew significantly to 4,791,840,512.81 RMB, up from 3,752,425,317.21 RMB[181] - Total liabilities increased to 3,879,350,271.07 RMB, from 3,758,582,918.68 RMB[182] - Shareholders' equity rose to 9,577,584,664.28 RMB, compared to 8,736,549,257.22 RMB[182] - Short-term borrowings surged to 947,287,493.41 RMB, up from 305,221,082.85 RMB[181] - Long-term receivables decreased slightly to 4,687,789.07 RMB, down from 4,857,917.16 RMB[181] - Intangible assets increased to 876,731,381.51 RMB, up from 712,401,256.25 RMB[181] - Deferred tax assets decreased to 85,916,602.21 RMB, down from 96,849,861.39 RMB[181] - Cash and cash equivalents rose to 390,052,114.64 RMB, up from 206,342,385.50 RMB[182] - Total assets increased to 8,637,377,326.06, up from 7,963,367,503.89 in the previous period[183] - Accounts receivable rose to 724,657,715.75, compared to 692,949,435.94 previously[183] - Long-term equity investments grew to 2,295,199,106.77, up from 2,047,852,899.71[183] - Other receivables increased to 3,033,949,018.80, compared to 2,819,359,413.46[183] - Fixed assets decreased to 760,851,194.51, down from 815,722,253.49[183] - Short-term borrowings remained stable at 100,116,111.11, compared to 100,111,527.78[183] - Notes payable increased to 627,771,608.68, up from 414,232,146.71[183] - Other payables rose significantly to 1,398,853,049.24, compared to 979,687,800.00[183] Foundry Materials and Automotive Industry - The company's casting materials business benefited from the automotive industry's growth, with car production and sales reaching 30.161 million and 30.094 million units, respectively, up 11.6% and 12% year-over-year[56] - The company's foundry materials industry achieved operating income of 3.176 billion yuan in 2023, a decrease of 17.05% year-on-year[81] - Sales of foundry resin in 2023 reached 157,700 tons, an increase of 9.48% compared to the previous year[81] Government Subsidies and Non-Recurring Items - Government subsidies received in 2023 totaled 54,041,703.33 yuan, an increase from 2022[77] - The company's non-recurring gains and losses in 2023 amounted to 53,148,160.57 yuan, a decrease from 2022[78] Procurement and Supplier Management - The company's electronic procurement platform has improved procurement efficiency, attracted new suppliers, and reduced costs[106] - The company has established a strict supplier management system, conducting regular reviews and maintaining long-term relationships with high-quality suppliers to secure favorable pricing during raw material price fluctuations[134] - The company's procurement process is centralized, with major raw materials sourced from large domestic enterprises, ensuring stable and reliable quality[133] Environmental and Production Management - The company's strict environmental management and advanced production equipment ensure high-quality raw materials and stable production processes[137] International Partnerships - The company has established long-term partnerships with over 50 countries and regions, including Europe, America, Southeast Asia, and South America[140] Financial Expenses and Investments - The company's financial expenses decreased significantly to 7,849,523.89 yuan in 2023 from 22,815,275.19 yuan in 2022[167] - The company's trading financial assets decreased by 6.12 million yuan, impacting profits by 3.60 million yuan[157] - The company's other equity instrument investments increased by 14.51 million yuan[157] - The company's receivables financing increased by 195.31 million yuan, impacting profits by 22.24 million yuan[157] - The company's total financial assets increased by 203.70 million yuan, impacting profits by 25.85 million yuan[157] Company History and Stock Information - The company was established on January 24, 1994, and its A-shares are listed on the Shanghai Stock Exchange with the stock code "605589"[198] - The company's financial statements were approved by the board on April 18, 2024, and will be submitted to the shareholders' meeting for review[199] Product Applications and Market Reach - The company's products are widely used in various fields such as automotive, wind power, nuclear power, integrated circuits, and aerospace, with no change in its main business during the reporting period[132] - The company's products are primarily used in semiconductor packaging materials, including BT packaging materials and ABF laminated insulating films, suitable for advanced packaging processes such as Chiplet and FC-BGA[160] Industrial Chain and Market Expansion - The company has a complete industrial chain, including bio-based chemical raw materials, synthetic resins, and composite materials, leveraging its advantages for technology R&D and market expansion[136] - The company is actively developing high-performance electronic materials such as high-frequency, high-speed, high heat resistance, high thermal conductivity, and high reliability, aiming to achieve domestic production of upstream core raw materials[117] - The company is gradually advancing the development and promotion of ultra-low loss materials such as M8 and M9, in addition to M6 and M7 level high-frequency and high-speed resins[118] Straw Resources and Utilization - The company's total straw theoretical resources in China are 977 million tons, with collectable resources of approximately 737 million tons[67]