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or)12.6 ( \(c\))12.5 ( to)12.5 ( be)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (notified to the Company and the Stock Exchange pursuant to the Model Cod\e \(the \223Model )Tj 0.041 Tc 0.07 Tw T* [(C)0.5 (od)0.5 (e\224)0.5 (\))13 ( f)0.5 (or)13 ( )0.5 (Se)0.5 (cu)0.5 (ri)0.5 (ti)0.5 (e)0.5 (s)12.9 ( )0.5 (Tr)0.5 (a)0.5 (ns)0.5 (ac)0.5 (t)0.5 (io)0.5 (ns)13 ( b)0.5 (y)12.9 ( )0.5 (D)0.5 (ir)0.5 (ec)0.5 (t)0.5 (or)0.5 (s)12.9 ( )0.5 (of)13 ( )0.5 (Li)0.5 (st)0.5 (e)0.5 (d)12.9 ( )0.5 (Is)0.5 (su)0.5 (e)0.5 (rs)13 ( c)0.5 (o)0.5 (nt)0.5 (ai)0.5 (ne)0.5 (d)12.9 ( )0.5 (i)0.5 (n)12.9 ( )0.5 (Li)0.5 (st)0.5 (in)0.5 (g)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (Rules were as follows:)Tj /T1_2 1 Tf 0 -2.333 TD (\(i\))Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Long positions in the shares and the underlying shares of the Company)Tj /T1_1 1 Tf -0.025 Tw 9.6 0 0 12 102.0472 225.0878 Tm (Directors)Tj 15.001 3.5 Td (Personal)Tj 0 Tw -1.877 -1.167 Td (long position)Tj 1.768 -1.167 Td (in shares)Tj -3.779 -1.167 Td (\(beneficial owner\))Tj 10.537 4.667 Td (Personal long)Tj -1.351 -1.167 Td (position in share)Tj 2.233 -1.167 Td (options and)Tj -2.76 -1.167 Td (convertible bonds)Tj 0.199 -1.167 Td (\(beneficial owner\))Tj 9.847 3.5 Td (Aggregate long)Tj 2.072 -1.167 Td (position in)Tj -0.085 -1.167 Td (shares and)Tj -3.231 -1.167 Td (underlying shares)Tj 11.818 2.333 Td (Interests in)Tj 0.66 -1.167 Td (the issued)Tj -1.352 -1.167 Td (share capital)Tj /T1_0 1 Tf -39.701 -2.333 Td (Wu Tianran)Tj -0.025 Tw 15.498 0 Td (140,000)Tj 0 Tc 0 Tw 11.758 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.958 0 Td (140,000)Tj 9.575 0 Td (0.00%)Tj 0 Tw -42.789 -1.167 Td (Li Weiruo)Tj -0.025 Tw 13.648 0 Td (410,392,000)Tj 0 Tc 0 Tw 13.608 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.108 0 Td (410,392,000)Tj 11.425 0 Td (9.55%)Tj 0 Tw -42.789 -1.167 Td (Yuan Bai)Tj -0.025 Tw 14.173 0 Td (71,292,800)Tj 9.383 0 Td (3,400,000)Tj 8.333 0 Td (74,692,800)Tj 10.9 0 Td (1.74%)Tj 0 Tw -42.789 -1.167 Td (Zhang Fubo)Tj -0.025 Tw 14.698 0 Td (5,000,000)Tj 0 Tc 0 Tw 12.558 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.158 0 Td (5,000,000)Tj 10.375 0 Td (0.12%)Tj /T1_2 1 Tf 10 0 0 10 102.0472 131.1278 Tm (Note:)Tj /T1_0 1 Tf 0 Tw /Span<>> BDC ( )Tj EMC 2.665 0 Td (As at 30 June 2017, the spouse of Mr. Wu Tianran held 9,212,000 shares o\f the Company.)Tj ET endstreamendobj39 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 19 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (OUTSTANDING CONVERTIBLE SECURITIES)Tj /T1_0 1 Tf 0.001 Tw 0 -2.333 TD (As at 30 June 2017, the outstanding convertible securities \(the \223Con\vertible Securities 1\224\) that )Tj 0.047 Tc 0.07 Tw 0 -1.167 TD [(i)0.5 (s)0.6 (s)0.5 (u)0.5 (e)0.5 (d)13.1 ( )0.5 (o)0.5 (n)13 ( )0.6 (1)13 (3)13 ( )0.6 (N)0.5 (o)0.5 (v)0.5 (e)0.6 (m)0.5 (b)0.5 (e)0.5 (r)13.1 ( )0.5 (2)13 (0)13.1 (1)13 (4)13 ( )0.5 (c)0.6 (a)0.5 (n)13 ( )0.6 (c)0.5 (o)0.5 (n)0.5 (v)0.6 (e)0.5 (r)0.5 (t)13.1 ( )0.5 (i)0.5 (n)0.5 (t)0.6 (o)13 ( )0.5 (1)13 (,)13 (0)13.1 (0)13 (2)13 (,)13 (6)13.1 (7)13 (5)13 (,)13 (0)13.1 (0)13 (0)13 ( )0.5 (s)0.6 (h)0.5 (a)0.5 (r)0.6 (e)0.5 (s)13 ( )0.6 (\()0.5 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (\223)0.5 (S)0.6 (h)0.5 (a)0.5 (r)0.5 (e)0.6 (s)0.5 (\224)0.6 (\))13 ( )0.5 (o)0.5 (f)13.1 ( )0.5 (t)0.5 (h)0.5 (e)22.1 ( )]TJ 0.048 Tc 0 -1.167 TD [(Company)12.7 ( and)12.7 ( the)12.8 ( outstanding)12.7 ( convertible)12.8 ( securities)12.7 ( \(the)12.7 ( \223Convertible)12.7 ( Securities)12.8 ( 2)12.8 (\224\))12.8 ( that)23 ( )]TJ 0.046 Tc T* [(issued)12.2 ( on)12.2 ( 1)12.2 (5)12.1 ( January)12.2 ( 2)12.2 (0)12.2 (1)12.2 (6)12.1 ( can)12.2 ( convert)12.2 ( into)12.2 ( 4)12.2 (0)12.2 (,)12.2 (0)12.1 (0)12.2 (0)12.2 (,)12.1 (0)12.2 (0)12.2 (0)12.2 ( Shares.)12.2 ( Assuming)12.2 ( all)12.2 ( outstanding)21 ( )]TJ 0.069 Tc 0 -1.167 TD [(convertibles)12.2 ( securities)12.1 ( converted)12.2 ( into)12.2 ( shares)12.2 ( as)12.2 ( at)12.2 ( 3)12.2 (0)12.2 ( June)12.2 ( 2)12.1 (0)12.2 (1)12.2 (7)12.2 (,)12.2 ( set)12.2 ( out)12.2 ( below)12.2 ( is)12.2 ( the)44 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (shareholding structure of the Company before and after such conversion:)Tj /T1_1 1 Tf 10.8 0 0 12 56.6929 531.0479 Tm (As at 30/06/2017)Tj 12.546 5.833 Td (No. of shares)Tj -0.025 Tw 2.981 -1.167 Td (before)Tj 0 Tw -3.148 -1.167 Td (conversion of)Tj -0.025 Tw 0.687 -1.167 Td (outstanding )Tj 0.28 -1.167 Td (convertible )Tj 0.803 -1.167 Td (securities)Tj 0 Tw 7.315 1.167 Td (% of)Tj -0.025 Tw -1.63 -1.167 Td (holdings)Tj 0 Tw 5.835 4.667 Td (No. of shares)Tj -1.494 -1.167 Td (from conversion)Tj 0.856 -1.167 Td (of outstanding)Tj -0.025 Tw 1.438 -1.167 Td (convertible)Tj 0.803 -1.167 Td (securities)Tj 0 Tw 6.271 4.667 Td (No. of shares)Tj -1.463 -1.167 Td (after conversion)Tj 0.825 -1.167 Td (of outstanding)Tj -0.025 Tw 1.438 -1.167 Td (convertible)Tj 0.803 -1.167 Td (securities)Tj 0 Tw 7.315 1.167 Td (% of)Tj -0.025 Tw -1.63 -1.167 Td (holdings)Tj /T1_0 1 Tf 0 Tw -40.831 -2.333 Td (Mr. Li Wei Ruo)Tj -0.025 Tw 13.123 0 Td (410,392,000)Tj 8.674 0 Td (9.55)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.124 0 Td (410,392,000)Tj 8.674 0 Td (7.68)Tj 0 Tw -42.794 -1.167 Td (Other Directors)Tj -0.025 Tw 13.648 0 Td (90,592,800)Tj 8.149 0 Td (2.11)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.649 0 Td (90,592,800)Tj 8.149 0 Td (1.70)Tj 0 Tw -42.794 -1.167 Td (Mr. Cheng Kin Ming)Tj -0.025 Tw 13.123 0 Td (800,000,000)Tj 8.149 0 Td (18.61)Tj 4.174 0 Td (1,001,375,000)Tj 7.874 0 Td (1,801,375,000)Tj 8.949 0 Td (33.73)Tj -42.269 -1.167 Td (Public)Tj 12.323 0 Td (2,997,057,799)Tj 8.949 0 Td (69.73)Tj 5.499 0 Td (41,300,000)Tj 6.549 0 Td (3,038,357,799)Tj 8.949 0 Td (56.89)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 181.4173 456.2488 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 10.8 0 0 12 249.1781 458.0388 Tm ( )Tj ET q 1 0 0 1 266.4567 456.2488 cm 0 0 m 45.354 0 l S Q BT 10.8 0 0 12 305.871 458.0388 Tm ( )Tj ET q 1 0 0 1 323.1496 456.2488 cm 0 0 m 73.701 0 l S Q BT 10.8 0 0 12 390.9104 458.0388 Tm ( )Tj ET q 1 0 0 1 408.189 456.2488 cm 0 0 m 73.701 0 l S Q BT 10.8 0 0 12 475.9498 458.0388 Tm ( )Tj ET q 1 0 0 1 493.2283 456.2488 cm 0 0 m 45.354 0 l S Q BT 10.8 0 0 12 532.6427 458.0388 Tm ( )Tj 0.025 Tc -0.025 Tw -44.069 -2.333 Td (Total)Tj 12.323 0 Td (4,298,042,599)Tj 8.424 0 Td (100.00)Tj 4.699 0 Td (1,042,675,000)Tj 7.874 0 Td (5,340,717,599)Tj 8.424 0 Td (100.00)Tj ET 1.11 w q 1 0 0 1 181.4174 425.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 181.4174 422.948 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 10.8 0 0 12 249.1782 424.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 266.4567 425.048 cm 0 0 m 45.354 0 l S Q 0.45 w q 1 0 0 1 266.4567 422.948 cm 0 0 m 45.354 0 l S Q BT 10.8 0 0 12 305.8711 424.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 323.1497 425.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 323.1497 422.948 cm 0 0 m 73.701 0 l S Q BT 10.8 0 0 12 390.9105 424.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 408.189 425.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 408.189 422.948 cm 0 0 m 73.701 0 l S Q BT 10.8 0 0 12 475.9498 424.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 493.2284 425.048 cm 0 0 m 45.354 0 l S Q 0.45 w q 1 0 0 1 493.2284 422.948 cm 0 0 m 45.354 0 l S Q BT 10.8 0 0 12 532.6428 424.6429 Tm ( )Tj 0.066 Tc 0.07 Tw 12 0 0 12 56.693 398.683 Tm [(The)12.7 ( diluted)12.7 ( loss)12.7 ( per)12.6 ( shares)12.6 ( for)12.7 ( the)12.7 ( year)12.6 ( ended)12.6 ( 3)12.7 (0)12.7 ( June)12.7 ( 2)12.7 (0)12.6 (1)12.7 (7)12.7 ( assuming)12.7 ( all)12.7 ( outstanding)41 ( )]TJ 0.03 Tc 0.078 Tw T* [(convertible)5 ( )0.6 (securities)5 ( )0.5 (being)5 ( )0.5 (converted)5 ( )0.5 (was)5 ( )0.5 (RMB)5 ( )0.5 (0)5 (.)5 (0)5 (1)5 (3)5 (4)5 ( )0.5 (which)5 ( )0.5 (is)5 ( )0.5 (calculated)5 ( )0.5 (by)5 ( )0.5 (dividing)5 ( )0.5 (the)5.1 ( )]TJ 0.049 Tc 0.07 Tw 0 -1.167 TD [(l)0.5 (os)0.5 (s)12.9 ( )0.5 (at)0.5 (tr)0.5 (ib)0.5 (ute)13 ( )0.5 (to)13 ( t)0.5 (he)13 ( s)0.5 (ha)0.5 (re)0.5 (h)0.5 (ol)0.5 (der)0.5 (s)13 ( o)0.5 (f)12.9 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (Co)0.5 (mp)0.5 (an)0.5 (y)12.9 ( )0.5 (by)13 ( t)0.5 (he)13 ( t)0.5 (ot)0.5 (a)0.5 (l)12.9 ( )0.5 (num)0.5 (be)0.5 (r)12.9 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (Sh)0.5 (ar)0.5 (es)13 ( a)0.5 (f)0.5 (te)0.5 (r)12.9 ( )0.5 (al)0.5 (l)24 ( )]TJ 0.025 Tc 0.013 Tw 0 -1.167 TD (outstanding convertible securities being converted. The calculation meth\od of this diluted loss )Tj 0.041 Tc 0.07 Tw T* [(is)12.6 ( not)12.5 ( the)12.5 ( same)12.5 ( as)12.5 ( those)12.6 ( used)12.5 ( in)12.6 ( this)12.6 ( announcement.)12.5 ( According)12.6 ( to)12.5 ( Hong)12.5 ( Kong)12.5 ( Accounting)16 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.167 TD (Standard 33 paragraphs 43, potential ordinary shares are antidilutive wh\en their conversion to )Tj 0.058 Tw 0 -1.167 TD (ordinary shares would increase earnings per share or decrease loss per s\hare from continuing )Tj 0.023 Tc 0 Tw T* [(operations. The calculation of diluted earnings per share does not assum\e conversion, exercise,)-2.1 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.167 TD [(or )0.5 (other )0.5 (issue )0.5 (of )0.5 (potential ordinary )0.5 (shares )0.5 (that )0.5 (would )0.5 (have )0.5 (an )0.5 (antidilutive effect )0.5 (on )0.5 (earnings )]TJ 0.04 Tc 0.07 Tw 0 -1.167 TD [(per)12.8 ( share.)12.8 ( The)12.8 ( conversion)12.8 ( of)12.8 ( outstanding)12.8 ( convertible)12.8 ( securities)12.8 ( would)12.8 ( have)12.8 ( an)12.8 ( antidilutive)15 ( )]TJ 0.025 Tc 0.047 Tw T* (effect on earnings per share and therefore the calculation of diluted ea\rnings per share in this )Tj 0 Tw 0 -1.167 TD (announcement does not assume such conversion.)Tj 0.025 Tw 0 -2.333 TD (Base on the cash and cash equivalent as at 30 June 2017 and the cash flo\w from the operation )Tj 0.061 Tc 0.07 Tw 0 -1.167 TD [(of)12.4 ( the)12.3 ( Company,)12.3 ( the)12.3 ( Company)12.3 ( has)12.4 ( its)12.3 ( ability)12.3 ( to)12.3 ( meet)12.3 ( its)12.4 ( redemption)12.4 ( obligations)12.3 ( under)36 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.167 TD [(Convertible)3 ( )0.5 (Securities)3 ( )0.5 (2)3 ( )0.5 (but)3 ( )0.5 (not)3 ( )0.5 (Convertible)3 ( )0.6 (Securities)3 ( )0.5 (1)3 (.)3 ( )0.5 (The)3.1 ( )0.5 (maturity)3 ( )0.5 (dates)3.1 ( )0.5 (of)3 ( )0.5 (Convertible)3 ( )]TJ 0.064 Tc 0.07 Tw 0 -1.167 TD [(Securities)12.2 ( 1)12.2 ( and)12.2 ( Convertible)12.2 ( Securities)12.2 ( 2)12.2 ( are)12.2 ( 1)12.2 (2)12.2 ( November)12.2 ( 2)12.2 (0)12.2 (2)12.1 (4)12.2 ( and)12.2 ( 1)12.2 (4)12.1 ( January)12.1 ( 2)12.2 (0)12.2 (1)12.1 (9)39 ( )]TJ 0.025 Tc -0.025 Tw T* (respectively.)Tj ET endstreamendobj37 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 18 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (SHARE OPTION SCHEME)Tj /T1_0 1 Tf 0.081 Tc 0.07 Tw 0 -2.333 TD [(O)0.5 (n)13.1 ( )0.5 (1)13 (0)13.1 ( )0.5 (J)0.5 (u)0.6 (n)0.5 (e)13 ( )0.6 (2)13 (0)13 (0)13.1 (3)13 (,)13 ( )0.6 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (C)0.5 (o)0.6 (m)0.5 (p)0.5 (a)0.6 (n)0.5 (y)13 ( )0.6 (a)0.5 (d)0.5 (o)0.6 (p)0.5 (t)0.5 (e)0.6 (d)13 ( )0.5 (a)13.1 ( )0.5 (s)0.6 (h)0.5 (a)0.5 (r)0.6 (e)13 ( )0.6 (o)0.5 (p)0.5 (t)0.5 (i)0.6 (o)0.5 (n)0.5 (s)13.1 ( )0.5 (s)0.5 (c)0.6 (h)0.5 (e)0.6 (m)0.5 (e)13 ( )0.6 (a)0.5 (n)0.5 (d)13.1 ( )0.5 (a)0.6 (m)0.5 (e)0.5 (n)0.6 (d)0.5 (e)0.5 (d)13 ( )0.6 (a)0.5 (t)13.1 ( )0.5 (a)0.5 (n)56 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.167 TD [(extraordinary )0.5 (general )0.6 (meeting )0.5 (on )0.5 (28 )0.5 (July )0.6 (2004 )0.6 (\(the )0.5 (\223GEM )0.6 (Share )0.5 (Option )0.5 (Scheme\224\). )0.6 (The )0.5 (GEM )]TJ 0.038 Tc 0.07 Tw 0 -1.167 TD [(S)0.5 (ha)0.5 (r)0.5 (e)12.9 ( )0.5 (O)0.5 (pt)0.5 (i)0.5 (on)13 ( S)0.5 (c)0.5 (he)0.5 (m)0.5 (e)13 ( w)0.5 (a)0.5 (s)12.9 ( )0.5 (t)0.5 (er)0.5 (m)0.5 (in)0.5 (a)0.5 (te)0.5 (d)13 ( o)0.5 (n)12.9 ( )0.5 (2)13 (5)12.9 ( )0.5 (A)0.5 (ug)0.5 (u)0.5 (st)13 ( 2)13 (0)13 (0)12.9 (8)13 (.)13 ( A)13 ( )0.5 (ne)0.5 (w)13 ( s)0.5 (h)0.5 (ar)0.5 (e)13 ( )0.5 (op)0.5 (ti)0.5 (o)0.5 (n)12.9 ( )0.5 (sc)0.5 (h)0.5 (e)0.5 (me)13 ( )0.5 (\(t)0.5 (h)0.5 (e)13 ( )]TJ 0.046 Tc T* [(\223Existing)12.8 ( Share)12.8 ( Option)12.8 ( Scheme\224\))12.9 ( was)12.8 ( adopted)12.8 ( on)12.9 ( 1)12.8 (8)12.9 ( September)12.8 ( 2)12.8 (0)12.8 (0)12.8 (8)12.9 (.)12.8 ( A)12.9 ( summary)12.8 ( of)12.8 ( the)21.1 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.167 TD [(principal)12 ( )0.5 (terms)12 ( )0.5 (and)12 ( )0.5 (conditions)12 ( )0.5 (of)12 ( )0.5 (the)12 ( )0.5 (GEM)12 ( )0.5 (Share)12 ( )0.5 (Option)12 ( )0.5 (Scheme)12 ( )0.5 (are)12 ( )0.5 (set)12 ( )0.5 (out)12.1 ( )0.5 (in)12 ( )0.5 (the)12 ( )0.5 (section)12 ( )]TJ 0.025 Tc 0.059 Tw 0 -1.167 TD (headed \223Share Option Scheme\224 in Appendix IV to the Prospectus and \details of amendments )Tj 0.083 Tw T* [(of the Scheme )0.5 (are )0.5 (set )0.5 (out in )0.5 (the )0.5 (circular )0.5 (of )0.5 (the )0.5 (Company dated )0.5 (12 )0.5 (July )0.5 (2004. )0.5 (The )0.5 (details )0.5 (of )]TJ 0.047 Tc 0.07 Tw 0 -1.167 TD [(the)12.5 ( Existing)12.5 ( Share)12.5 ( Option)12.4 ( Scheme)12.4 ( can)12.5 ( be)12.4 ( found)12.5 ( in)12.4 ( the)12.4 ( circular)12.5 ( of)12.5 ( the)12.5 ( Company)12.4 ( dated)12.5 ( 2)12.5 (9)22 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (August 2008.)Tj 0.081 Tw 0 -2.333 TD (Details of options granted by the Company pursuant to the Scheme and out\standing as at 30 )Tj 0 Tw 0 -1.167 TD (June 2017 were disclosed in the following table:)Tj /T1_1 1 Tf 8.4 0 0 12 293.3995 517.0479 Tm (Number of share options)Tj -17.295 -1.167 Td (Held at)Tj 0.883 -1.167 Td (1 Jan)Tj -0.025 Tw 0.331 -1.167 Td (2017)Tj 4.763 2.333 Td (Grant)Tj -0.304 -1.167 Td (during)Tj 0.112 -1.167 Td (period)Tj 3.936 2.333 Td (Exercised)Tj 1.351 -1.167 Td (during)Tj 0.112 -1.167 Td (period)Tj 4.159 2.333 Td (Forfeited)Tj 1.128 -1.167 Td (during)Tj 0.112 -1.167 Td (period)Tj 0 Tw 5.013 2.333 Td (Held at)Tj 0.302 -1.167 Td (30 Jun)Tj -0.025 Tw 0.912 -1.167 Td (2017)Tj 4.46 2.333 Td (Shares)Tj -0.526 -1.167 Td (Options)Tj 0 Tc 0 Tw 2.818 -1.167 Td (A)Tj 0.025 Tc -0.025 Tw 3.107 2.333 Td (Shares)Tj -0.526 -1.167 Td (Options)Tj 0 Tc 0 Tw 2.873 -1.167 Td (B)Tj 0.025 Tc -0.025 Tw 3.052 2.333 Td (Shares)Tj -0.526 -1.167 Td (Options)Tj 0 Tc 0 Tw 2.818 -1.167 Td (C)Tj 0.025 Tc -0.025 Tw 3.107 2.333 Td (Shares)Tj -0.526 -1.167 Td (Options)Tj 0 Tc 0 Tw 2.818 -1.167 Td (D)Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw -44.764 -1.167 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj /T1_1 1 Tf -55.077 -2.333 Td (Directors)Tj /T1_0 1 Tf 0 Tw T* (Wu Tianran)Tj 0 Tc 13.673 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -56.868 -1.167 Td (Li Weiruo)Tj 0 Tc 13.673 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -56.868 -1.167 Td (Yuan Bai)Tj -0.025 Tw 11.823 0 Td (3,400)Tj 0 Tc 0 Tw 7.249 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.549 0 Td (3,400)Tj 6.199 0 Td (800)Tj 0 Tc 0 Tw 6.449 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.549 0 Td (2,200)Tj 6.199 0 Td (400)Tj 0 Tw -55.818 -1.167 Td (Wan Congxin)Tj 0 Tc 13.673 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -56.868 -1.167 Td (Zhang Fubo)Tj 0 Tc 13.673 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -56.868 -1.167 Td (Hu Xiaoping)Tj -0.025 Tw 11.823 0 Td (1,200)Tj 0 Tc 0 Tw 7.249 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.549 0 Td (1,200)Tj 0 Tc 0 Tw 7.249 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.349 0 Td (800)Tj 5.399 0 Td (400)Tj 0 Tc 0 Tw 6.449 0 Td (\226)Tj 0.025 Tc -56.868 -1.167 Td (Shi Lei)Tj 0 Tc 13.673 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -0.025 Tw -56.868 -1.167 Td (Employees)Tj 11.298 0 Td (13,600)Tj 0 Tc 0 Tw 7.774 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.024 0 Td (13,600)Tj 5.924 0 Td (3,900)Tj 6.199 0 Td (800)Tj 4.599 0 Td (7,400)Tj 5.399 0 Td (1,500)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 141.7323 316.2488 cm 0 0 m 34.016 0 l S Q BT 0 Tc 0 Tw 8.4 0 0 12 136.063 318.0388 Tm ( )Tj ET q 1 0 0 1 187.0867 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 181.4174 318.0388 Tm ( )Tj ET q 1 0 0 1 232.441 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 226.7717 318.0388 Tm ( )Tj ET q 1 0 0 1 277.7953 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 272.126 318.0388 Tm ( )Tj ET q 1 0 0 1 323.1497 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 317.4804 318.0388 Tm ( )Tj ET q 1 0 0 1 368.504 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 362.8347 318.0388 Tm ( )Tj ET q 1 0 0 1 413.8583 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 408.189 318.0388 Tm ( )Tj ET q 1 0 0 1 459.2126 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 453.5434 318.0388 Tm ( )Tj ET q 1 0 0 1 504.567 316.2488 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 498.8977 318.0388 Tm ( )Tj 0.025 Tc -0.025 Tw -52.643 -2.333 Td (Total)Tj 11.298 0 Td (18,200)Tj 0 Tc 0 Tw 7.774 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.399 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.024 0 Td (18,200)Tj 5.924 0 Td (4,700)Tj 5.399 0 Td (1,600)Tj 4.874 0 Td (10,000)Tj 5.924 0 Td (1,900)Tj ET 1.11 w q 1 0 0 1 141.7323 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 141.7323 282.948 cm 0 0 m 34.016 0 l S Q BT 0 Tc 0 Tw 8.4 0 0 12 136.063 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 187.0867 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 187.0867 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 181.4174 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 232.441 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 232.441 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 226.7717 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 277.7953 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 277.7953 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 272.126 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 323.1497 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 323.1497 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 317.4804 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 368.504 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 368.504 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 362.8347 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 413.8583 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 413.8583 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 408.189 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 459.2126 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 453.5434 284.6429 Tm ( )Tj ET 1.11 w q 1 0 0 1 504.567 285.048 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 504.567 282.948 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 498.8977 284.6429 Tm ( )Tj 0.024 Tc 12 0 0 12 56.693 258.683 Tm [(Share Options A: Grant on 14 January 2010, exercisable from grant date u\ntil 13 January 2020)-1 ( )]TJ 0.025 Tc T* (with exercise price HK$1.150.)Tj 0.007 Tw 0 -2.333 TD (Share Options B: Grant on 23 November 2010, exercisable from grant date \until 22 November )Tj 0 Tw 0 -1.167 TD (2020 with exercise price HK$1.100.)Tj 0.007 Tw 0 -2.333 TD (Share Options C: Granted on 28 March 2013, exercisable from grant date u\ntil 27 March 2023 )Tj 0 Tw 0 -1.167 TD (with exercise price HK$0.595.)Tj 0.034 Tc 0.074 Tw 0 -2.333 TD [(Share)9 ( )0.5 (Options)9 ( )0.5 (D:)9 ( )0.5 (Granted)9 ( )0.5 (on)9 ( )0.5 (2)9 (2)9 ( )0.5 (June)9 ( )0.5 (2)9 (0)9 (1)9 (6)9 (,)9 ( )0.5 (exercisable)9 ( )0.5 (from)9 ( )0.5 (grant)8.9 ( )0.5 (date)9 ( )0.5 (until)9 ( )0.5 (2)9 (1)9 ( )0.5 (June)9 ( )0.5 (2)9 (0)9 (2)9 (6)9 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (with exercise price HK$0.151.)Tj 0 -2.333 TD (During the six month ended 30 June 2017, no share options were exercised\.)Tj ET endstreamendobj36 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 17 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (MATERIAL ACQUISITIONS/DISPOSALS)Tj /T1_0 1 Tf 0 -2.333 TD (The Group had no material acquisitions/disposals during the six months e\nded 30 June 2017.)Tj /T1_1 1 Tf 0 -2.333 TD (SEGMENTAL INFORMATION)Tj /T1_0 1 Tf 0.083 Tw T* [(The )0.5 (Group\222s )0.5 (activities )0.5 (are )0.5 (primarily conducted )0.5 (in )0.5 (the )0.5 (PRC )0.5 (and are )0.5 (within )0.5 (the )0.5 (same )0.5 (business )]TJ 0 Tw 0 -1.167 TD (segment. Therefore, no segmental information was presented for the six m\onths ended 30 June )Tj -0.025 Tw T* (2017.)Tj /T1_1 1 Tf 0 Tw 0 -2.333 TD (DETAILS OF FUTURE PLANS FOR MATERIAL INVESTMENT OR CAPITAL )Tj -0.025 Tw 0 -1.167 TD (ASSETS)Tj /T1_0 1 Tf 0.04 Tc 0.07 Tw 0 -2.333 TD [(Other)12.2 ( than)12.2 ( the)12.1 ( phase)12.2 ( II)12.2 ( of)12.2 ( the)12.2 ( Dazhou)12.1 ( Plant)12.2 ( of)12.2 ( Sichuan,)12.2 ( the)12.1 ( phosphoric)12.2 ( acid)12.2 ( plant)12.1 ( and)12.2 ( the)15 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.167 TD [(polyphenylene)2 ( )0.5 (sulfide)2 ( )0.5 (project)2 ( )0.5 (as)2 ( )0.5 (per)2 ( )0.5 (circular)2 ( )0.5 (dated)2 ( )0.5 (2)2 (2)2 ( )0.5 (September)2.1 ( 2)2 (0)2 (1)2 (4)2 (,)2 ( )0.5 (the)2 ( )0.5 (Directors)2 ( )0.5 (do)2 ( )0.5 (not)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (have any future plans for material investment or capital assets.)Tj /T1_1 1 Tf 0 -2.333 TD (EMPLOYEE INFORMATION)Tj /T1_0 1 Tf 0.022 Tw 0 -2.333 TD (As at 30 June 2017, the Group had a total workforce of 781 \(2016: 835\)\, of which 5 \(2016: 8\) )Tj 0.064 Tw 0 -1.167 TD (were responsible for management, 96 \(2016: 118\) for finance and admini\stration, 634 \(2016: )Tj 0.051 Tc 0.07 Tw 0 -1.167 TD [(6)12.9 (6)12.9 (0)12.9 (\))13 ( for)13 ( produc)0.5 (tion)13 ( and)12.9 ( )0.5 (4)12.9 (6)12.9 ( \()12.9 (2)12.9 (0)13 (1)12.9 (6)12.9 (:)12.9 ( 4)12.9 (9)13 (\))12.9 ( for)13 ( sal)0.5 (es)12.9 ( a)0.5 (nd)12.9 ( ma)0.5 (rketin)0.5 (g.)12.9 ( Of)13 ( the)0.5 (se)12.9 ( e)0.5 (mploye)0.5 (es,)12.9 ( )0.5 (7)12.9 (7)12.9 (9)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (\(2016: 827\) were stationed in the PRC and 2 \(2016: 5\) in Hong Kong.)Tj /T1_1 1 Tf 0 -2.333 TD (CHARGES ON THE GROUP\222S ASSETS)Tj /T1_0 1 Tf 0.053 Tc 0.07 Tw 0 -2.333 TD [(As)12.3 ( at)12.2 ( 3)12.2 (0)12.2 ( June)12.2 ( 2)12.2 (0)12.2 (1)12.2 (7)12.3 (,)12.2 ( certain)12.2 ( land)12.2 ( use)12.2 ( rights)12.2 ( and)12.2 ( buildings)12.2 ( with)12.3 ( a)12.2 ( total)12.2 ( net)12.2 ( book)12.2 ( value)12.3 ( of)28 ( )]TJ 0.025 Tc 0.081 Tw 0 -1.167 TD (approximately RMB266,255,000 \(2016: RMB256,899,000\), plant and machine\ry with a total )Tj 0.031 Tc 0.082 Tw 0 -1.167 TD [(n)-12.4 (e)-12.3 (t b)-12.4 (o)-12.4 (o)-12.3 (k v)-12.4 (a)-12.3 (l)-12.4 (u)-12.4 (e o)-12.4 (f a)-12.3 (p)-12.4 (p)-12.4 (r)-12.4 (o)-12.3 (x)-12.4 (i)-12.4 (m)-12.4 (a)-12.3 (t)-12.4 (e)-12.4 (l)-12.4 (y R)-12.4 (M)-12.4 (B2,227,074,000 \(2016: R)-12.4 (M)-12.3 (B2,263,291,000\) a)-12.3 (n)-12.4 (d b)-12.4 (a)-12.3 (n)-12.4 (k)6 ( )]TJ 0.057 Tc T* [(d)-12 (e)-12 (p)-12.1 (o)-12 (s)-12 (i)-12 (t)-12 (s)0.5 ( o)-12 (f)0.5 ( a)-12 (p)-12.1 (p)-12 (r)-12 (o)-12 (x)-12 (i)-12.1 (m)-12 (a)-12 (t)-12 (e)-12 (l)-12 (y R)-12 (M)-12 (B)0.5 (1)0.5 (1,)0.5 (1)0.5 (2)0.5 (2,)0.5 (0)0.5 (0)0.5 (0)0.5 ( \()0.5 (2)0.5 (0)0.5 (16)0.5 (:)0.5 ( R)-12 (M)-12.1 (B)0.5 (1)0.5 (5)0.5 (1)0.5 (,)0.5 (79)0.5 (2)0.5 (,)0.5 (00)0.5 (0)0.5 (\))0.5 ( w)-12.1 (e)-12 (r)-12 (e)0.5 ( p)-12 (l)-12 (e)-12 (d)-12.1 (g)-12 (e)-12 (d)0.5 ( a)-12.1 (s)32.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (collateral for the Group\222s bank loans and notes payable.)Tj /T1_1 1 Tf 0 -2.333 TD (FOREIGN EXCHANGE EXPOSURE)Tj /T1_0 1 Tf 0.027 Tc 0.081 Tw 0 -2.333 TD [(The)2 ( )0.5 (Group)2 ( )0.5 (exposes)2 ( to)2 ( )0.5 (foreign)2 ( )0.5 (exchange)2 ( )0.5 (risks)2 ( )0.5 (as)2 ( )0.5 (certain)2 ( )0.5 (portion)2 ( )0.5 (of)2 ( )0.5 (loans)2 ( )0.5 (are)2 ( )0.5 (denominated)2 ( )0.5 (in)2 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.167 TD (foreign currencies, primarily with respect to the HK dollar. The managem\ent monitors foreign )Tj 0.003 Tw 0 -1.167 TD (exchange exposure and will consider hedging significant foreign currency\ exposure should the )Tj 0 Tw 0 -1.167 TD (need arises.)Tj ET endstreamendobj32 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 16 \226)Tj /T1_1 1 Tf -0.025 Tw -18.766 58.583 Td (Appreciation)Tj /T1_0 1 Tf 0.033 Tw 0 -2.333 TD (Looking back to the past six months, chemical fertilizer and chemicals i\ndustries experienced )Tj 0.001 Tw 0 -1.167 TD [(stagnant )0.5 (recovery despite )0.5 (volatile )0.5 (market condition. )0.5 (Under the )0.5 (leadership )0.5 (of the )0.5 (Board )0.5 (and )0.5 (our )]TJ 0.04 Tw 0 -1.167 TD (management and the dedication of our staff, we adhered to a market-orien\ted approach in our )Tj 0.032 Tc 0.076 Tw T* [(production)7 ( )0.5 (operation)7 ( )0.6 (to)6.9 ( )0.6 (capture)7.1 ( )0.5 (the)7 ( )0.5 (opportunities)7 ( )0.5 (of)7 ( )0.5 (recovery,)7 ( )0.5 (development)7 ( )0.5 (and)7 ( )0.5 (production,)7 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.167 TD [(a)0.5 (c)0.5 (h)0.5 (i)0.5 (e)0.5 (v)0.5 (i)0.5 (n)0.5 (g)3 ( )0.5 (l)0.5 (o)0.5 (n)0.5 (g)0.5 (-)0.5 (t)0.5 (e)0.5 (r)0.5 (m)3 ( )0.5 (a)0.5 (n)0.5 (d)3 ( )0.5 (s)0.5 (t)0.5 (a)0.5 (b)0.5 (l)0.5 (e)3 ( )0.5 (o)0.5 (p)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (.)3 ( )0.5 (F)0.5 (o)0.5 (r)3 ( )0.5 (t)0.5 (h)0.5 (e)3 ( )0.5 (s)0.5 (e)0.5 (c)0.5 (o)0.5 (n)0.5 (d)3 ( )0.5 (h)0.5 (a)0.5 (l)0.5 (f)3 ( )0.5 (o)0.5 (f)3 ( )0.5 (t)0.5 (h)0.5 (e)3 ( )0.5 (y)0.5 (e)0.5 (a)0.5 (r)0.5 (,)3 ( )0.5 (w)0.5 (e)3 ( )0.5 (w)0.5 (i)0.5 (l)0.5 (l)3 ( )0.5 (s)0.5 (t)0.5 (r)0.5 (i)0.5 (v)0.5 (e)3 ( )0.5 (f)0.5 (o)0.5 (r)3 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.167 TD [(stable)12.6 ( development)12.7 ( of)12.7 ( basic)12.7 ( chemicals)12.6 ( industries)12.7 ( and)12.7 ( expansion)12.7 ( on)12.7 ( new)12.7 ( material)12.6 ( and)12.7 ( new)18 ( )]TJ 0.027 Tc 0.081 Tw T* [(technology)2 ( )0.5 (businesses)2 ( )0.5 (in)2 ( )0.5 (accordance)2 ( )0.5 (with)2 ( )0.5 (decisions)2 ( )0.5 (and)2 ( )0.5 (strategies)2 ( devised)2 ( )0.5 (by)2 ( )0.5 (the)2 ( )0.5 (Board)2 ( )0.5 (and)2 ( )]TJ 0.025 Tc 0.006 Tw 0 -1.167 TD (under the leadership of the management in order to seize market opportun\ities and get through )Tj 0 Tw 0 -1.167 TD (the hardship.)Tj 0.011 Tw 0 -2.333 TD (I would like to take this opportunity to express my sincere appreciation\ on behalf of all fellow )Tj 0.029 Tc 0.079 Tw 0 -1.167 TD [(members)4 ( )0.5 (of)4 ( )0.5 (the)4.1 ( )0.5 (Board)4 ( )0.5 (to)4 ( )0.5 (all)4 ( )0.5 (shareholders,)4 ( )0.5 (our)4 ( )0.5 (clients,)3.9 ( )0.6 (the)4 ( )0.5 (management)4 ( )0.5 (and)4 ( )0.5 (the)4 ( )0.5 (staff.)4.1 ( )0.5 (Thank)4 ( )]TJ 0.024 Tc 0 Tw T* [(you for sticking with us during the hard time. We will strive to bring m\ore benefits and returns)-1 ( )]TJ 0.025 Tc 0 -1.167 TD (to our shareholders and the society.)Tj /T1_1 1 Tf 0 -2.333 TD (LIQUIDITY, FINANCIAL RESOURCES AND CAPITAL STRUCTURE)Tj /T1_0 1 Tf 0.024 Tc 0 -2.333 TD [(As at 30 June 2017, the Group had net current liabilities of approximate\ly RMB1,618,367,000.)-1 ( )]TJ 0.064 Tc 0.07 Tw 0 -1.167 TD [(Current)12.9 ( assets)12.9 ( as)12.9 ( at)12.9 ( 3)12.9 (0)12.9 ( June)12.9 ( 2)12.9 (0)12.9 (1)12.9 (7)12.9 ( comprised)12.9 ( cash)12.9 ( and)12.9 ( bank)12.9 ( deposits)12.9 ( of)13 ( approximate)0.5 (ly)39 ( )]TJ 0.052 Tc 0 -1.167 TD [(RMB)12.2 (6)12.2 (,)12.2 (9)12.1 (1)12.2 (4)12.2 (,)12.1 (0)12.2 (0)12.2 (0)12.1 (,)12.2 ( pledged)12.2 ( bank)12.2 ( deposits)12.1 ( of)12.1 ( approximately)12.1 ( RMB)12.2 (1)12.2 (1)12.2 (,)12.1 (1)12.2 (2)12.1 (2)12.2 (,)12.2 (0)12.1 (0)12.2 (0)12.2 (,)12.1 ( inventories)12.2 ( of)27 ( )]TJ 0.12 Tc 0 -1.167 TD [(approximately)12.3 ( RMB)12.4 (1)12.3 (4)12.3 (5)12.4 (,)12.3 (2)12.3 (1)12.4 (7)12.3 (,)12.3 (0)12.4 (0)12.3 (0)12.3 (,)12.4 ( derivative)12.4 ( financial)12.3 ( assets)12.3 ( of)12.3 ( approximately)95 ( )]TJ 0.041 Tc T* [(RMB)12.7 (2)12.6 (2)12.7 (7)12.6 (,)12.7 (3)12.6 (7)12.6 (8)12.7 (,)12.6 (0)12.7 (0)12.6 (0)12.7 (,)12.6 ( trade)12.7 ( and)12.7 ( other)12.7 ( receivables)12.7 ( of)12.6 ( approximately)12.6 ( RMB)12.7 (4)12.6 (1)12.7 (1)12.6 (,)12.7 (3)12.6 (0)12.7 (7)12.6 (,)12.6 (0)12.7 (0)12.6 (0)12.7 (.)12.6 ( Current)16 ( )]TJ 0.137 Tc 0 -1.167 TD [(li)0.5 (ab)0.5 (ili)0.5 (tie)0.5 (s)12.9 ( )0.5 (as)13 ( at)13 ( 3)13 (0)12.9 ( J)0.5 (un)0.5 (e)12.9 ( )0.5 (2)12.9 (0)12.9 (1)13 (7)12.9 ( c)0.5 (om)0.5 (pri)0.5 (se)0.5 (d)12.9 ( s)0.5 (ho)0.5 (rt-)0.5 (te)0.5 (rm)12.9 ( )0.5 (loa)0.5 (ns)13 ( of)13 ( a)0.5 (pp)0.5 (rox)0.5 (ima)0.5 (te)0.5 (ly)112 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.167 TD [(RMB)12 (1)12 (,)12 (3)12 (0)12 (7)12 (,)12 (5)12 (0)12 (3)12 (,)12 (0)12 (0)12 (0)12 (,)12 ( )0.5 (current)12 ( )0.5 (portion)12 ( )0.5 (of)12 ( )0.5 (long)12 ( )0.5 (term)12 ( )0.6 (loans)12 ( )0.5 (of)12 ( )0.5 (approximately)12 ( )0.5 (RMB)12 (1)12 (6)12 (6)12 (,)12 (7)12 (8)12 (0)12 (,)12 (0)12 (0)12 (0)12 (,)12 ( )]TJ 0.025 Tc 0 Tw T* (trade and other payables of approximately RMB946,022,000.)Tj /T1_1 1 Tf 0 -2.333 TD (CAPITAL COMMITMENTS)Tj /T1_0 1 Tf 0.062 Tc 0.07 Tw T* [(As)12.7 ( at)12.8 ( 3)12.7 (0)12.7 ( June)12.7 ( 2)12.7 (0)12.7 (1)12.7 (7)12.8 (,)12.6 ( the)12.7 ( Group)12.7 ( had)12.7 ( outstanding)12.7 ( capital)12.7 ( commitments)12.7 ( of)12.7 ( approximately)37 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.167 TD (RMB226,255,000.)Tj /T1_1 1 Tf 0 Tw 0 -2.333 TD (FINANCIAL RESOURCES)Tj /T1_0 1 Tf 0.068 Tw 0 -2.333 TD (As at 30 June 2017, the Group had cash and bank balances of approximatel\y RMB6,914,000 )Tj 0.037 Tc 0.071 Tw 0 -1.167 TD [(and)12 ( )0.5 (did)12 ( )0.5 (not)12 ( )0.5 (have)12.1 ( )0.5 (any)12 ( )0.5 (standby)12 ( )0.5 (bank)12 ( )0.5 (facilities.)12 ( )0.5 (The)12 ( )0.5 (Company)12 ( )0.5 (intends)12 ( )0.5 (to)12 ( )0.5 (finance)12 ( )0.5 (the)12 ( )0.5 (Group\222s)12 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.167 TD [(future)8 ( )0.5 (operations,)8 ( )0.5 (capital)8 ( )0.5 (expenditure)8 ( )0.5 (and)8 ( )0.5 (other)8 ( )0.5 (capital)8 ( )0.5 (requirements)8 ( )0.5 (with)8.1 ( )0.5 (the)8 ( )0.5 (existing)8 ( )0.5 (bank)8 ( )]TJ 0.025 Tc 0 Tw T* (balances and cash flow from operation.)Tj /T1_1 1 Tf 0 -2.333 TD (GEARING RATIO)Tj /T1_0 1 Tf 0.041 Tc 0.07 Tw T* [(The)12.8 ( Group\222s)12.8 ( gearing)12.7 ( ratios)12.8 ( were)12.8 ( 6)12.7 (1)12.8 (%)12.8 ( and)12.7 ( 6)12.8 (1)12.7 (%)12.8 ( as)12.8 ( at)12.8 ( 3)12.8 (0)12.8 ( June)12.8 ( 2)12.8 (0)12.8 (1)12.7 (7)12.8 ( and)12.7 ( 3)12.8 (1)12.7 ( December)12.7 ( 2)12.8 (0)12.7 (1)12.8 (6)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (respectively. The gearing ratios were calculated as net debt divided by \total capital.)Tj /T1_1 1 Tf 0 -2.333 TD (CONTINGENT LIABILITIES)Tj /T1_0 1 Tf 0 -2.333 TD (The Group had no significant contingent liabilities as at 30 June 2017.)Tj ET endstreamendobj19 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page>>endobj20 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page>>endobj21 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page>>endobj22 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page>>endobj23 0 obj<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 793.701]/Type/Page>>endobj60 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 15 \226)Tj 0.06 Tc 0.07 Tw -18.766 58.583 Td [(In)12 ( the)12.1 ( second)12.1 ( half)12 ( of)12 ( the)12.1 ( year,)12 ( despite)12.1 ( similar)12.1 ( unfavourable)12.1 ( factors)12 ( such)12.1 ( as)12.1 ( decreasing)35 ( )]TJ 0.061 Tc 0 -1.167 TD [(a)0.6 (g)0.5 (r)0.5 (i)0.6 (c)0.5 (u)0.6 (l)0.5 (t)0.6 (u)0.5 (r)0.6 (e)13 ( )0.6 (d)0.5 (e)0.6 (m)0.5 (a)0.6 (n)0.5 (d)0.6 (,)13 ( )0.5 (w)0.6 (e)0.6 (a)0.5 (k)13.1 ( )0.5 (o)0.5 (i)0.6 (l)13 ( )0.6 (p)0.5 (r)0.6 (i)0.5 (c)0.6 (e)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.6 (f)0.5 (r)0.6 (a)0.5 (g)0.6 (i)0.5 (l)0.5 (e)13.1 ( )0.5 (c)0.6 (h)0.6 (e)0.5 (m)0.5 (i)0.6 (c)0.5 (a)0.6 (l)0.5 (s)13.1 ( )0.5 (i)0.6 (n)0.5 (d)0.6 (u)0.5 (s)0.6 (t)0.5 (r)0.6 (y)13 ( )0.5 (d)0.6 (u)0.5 (e)13.1 ( )0.5 (t)0.6 (o)13 ( )0.6 (t)0.5 (h)0.5 (e)13.1 ( )0.6 (p)0.5 (o)0.5 (l)0.6 (i)0.5 (c)0.6 (y)13 ( )0.6 (o)0.5 (f)36 ( )]TJ 0.025 Tc 0.063 Tw T* (structural change in cultivation and replacement of organic fertilizer, \the urea market will be )Tj 0.059 Tc 0.07 Tw 0 -1.167 TD [(o)0.5 (pt)0.5 (i)0.5 (mi)0.5 (s)0.5 (ti)0.5 (c)13 ( )0.5 (a)0.5 (s)12.9 ( )0.5 (c)0.5 (o)0.5 (mp)0.5 (a)0.5 (r)0.5 (ed)13 ( )0.5 (to)13 ( )0.5 (2)13 (0)12.9 (1)13 (6)13 ( i)0.5 (n)13 ( g)0.5 (e)0.5 (n)0.5 (er)0.5 (a)0.5 (l)0.5 (.)12.9 ( )0.5 (F)0.5 (o)0.5 (ll)0.5 (o)0.5 (wi)0.5 (n)0.5 (g)12.9 ( )0.5 (t)0.5 (he)13 ( )0.5 (e)0.5 (li)0.5 (m)0.5 (i)0.5 (na)0.5 (t)0.5 (io)0.5 (n)13 ( )0.5 (of)13 ( )0.5 (f)0.5 (ac)0.5 (i)0.5 (li)0.5 (t)0.5 (i)0.5 (es)13 ( )0.5 (w)0.5 (it)0.5 (h)34 ( )]TJ 0.045 Tc 0 -1.167 TD [(production)12.2 ( capacity)12.2 ( of)12.2 ( more)12.2 ( than)12.2 ( 5)12.2 (.)12.2 (5)12.2 ( million)12.2 ( tonnes,)12.2 ( which)12.2 ( are)12.2 ( small-scale)12.2 ( and)12.2 ( obsolete-)]TJ 0.025 Tc 0.08 Tw T* (processing, urea inventory in China for the year saw a low level accordi\ng to statistics from )Tj 0.026 Tc 0.082 Tw 0 -1.167 TD [(Industry)1 ( )0.5 (Association.)0.9 ( )0.6 (As)1.1 ( )0.5 (at)1 ( )0.5 (the)1 ( )0.5 (third)1 ( )0.5 (week)1 ( )0.6 (of)1 ( )0.5 (June,)1 ( )0.5 (urea)1 ( )0.5 (inventory)1 ( )0.5 (dropped)1 ( )0.5 (by)1 ( )0.5 (2)1 (9)1 (9)1 ( )0.5 (thousand)1 ( )]TJ 0.053 Tc 0.07 Tw 0 -1.167 TD [(tonnes)12.2 ( from)12.2 ( 5)12.2 (8)12.2 (4)12.1 (.)12.2 (9)12.2 ( thousand)12.1 ( tonnes)12.1 ( for)12.2 ( the)12.2 ( corresponding)12.1 ( period)12.2 ( of)12.2 ( 2)12.2 (0)12.1 (1)12.2 (6)12.2 ( to)12.1 ( only)12.1 ( 2)12.2 (8)12.1 (0)12.2 (.)12.1 (9)12.2 (5)28 ( )]TJ 0.025 Tc 0.059 Tw T* (thousand tonnes, representing a decrease of 50.5%. Therefore, the nitrog\en fertilizer industry )Tj 0.037 Tc 0.071 Tw 0 -1.167 TD [(will)12 ( )0.5 (continue)12 ( )0.5 (to)12 ( )0.5 (face)12 ( )0.5 (a)12.1 ( )0.5 (series)12 ( )0.5 (of)12 ( )0.5 (challenges)12 ( )0.5 (in)12 ( )0.5 (the)12 ( )0.5 (second)12 ( )0.5 (half)12 ( )0.5 (of)12 ( )0.6 (the)12.1 ( )0.5 (year.)12 ( )0.5 (However,)12 ( )0.5 (as)12 ( )0.5 (the)12 ( )]TJ 0.025 Tc 0.081 Tw 0 -1.167 TD (price of raw materials such as natural gas and coal will continue to hov\er at high level, it is )Tj 0.045 Tc 0.07 Tw T* [(expected)12.7 ( to)12.7 ( be)12.8 ( optimistic)12.8 ( about)12.8 ( the)12.7 ( market)12.7 ( condition)12.8 ( in)12.8 ( the)12.7 ( second)12.8 ( half)12.8 ( of)12.7 ( the)12.7 ( year)12.8 ( while)20 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (economic operation of the nitrogen fertilizer industry in 2017 should be\ better in general.)Tj /T1_1 1 Tf -0.025 Tw 0 -2.333 TD (Strategies)Tj /T1_0 1 Tf 0.034 Tc 0.074 Tw 0 -2.333 TD [(Gi)0.5 (ven)9 ( )0.5 (th)0.5 (e)9 ( )0.5 (unfa)0.5 (vora)0.5 (ble)9 ( )0.5 (m)0.5 (acr)0.5 (o-ec)0.5 (onom)0.5 (y)9 ( )0.5 (and)9 ( )0.5 (s)0.5 (luggi)0.5 (sh)9 ( )0.5 (re)0.5 (cover)0.5 (y)9 ( )0.5 (of)9 ( )0.5 (the)9.1 ( )0.5 (che)0.5 (mica)0.5 (l)9 ( )0.5 (fer)0.5 (tiliz)0.5 (er)9 ( )0.5 (a)0.5 (nd)9 ( )]TJ 0.04 Tc 0.07 Tw 0 -1.167 TD [(chemicals)12.7 ( industry,)12.7 ( the)12.8 ( Group)12.8 ( will)12.7 ( seize)12.8 ( the)12.7 ( opportunities)12.7 ( to)12.8 ( overcome)12.7 ( the)12.8 ( challenges)12.7 ( and)15 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (weather the storm by the following strategies and measures:)Tj 0.016 Tw 0 -2.333 TD (1.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Centralising management and allocation of capital of the Group to ensure\ optimum use of )Tj 0 Tw 0 -1.167 TD (limited capital.)Tj 0.055 Tw -1.89 -2.333 Td (2.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Striving to ensure safe and stable economic operations achieved by facil\ities in Guangan )Tj 0.002 Tw T* (Plant, Dazhou Plant and new material plant by way of initial cost-effect\iveness estimation )Tj 0.05 Tc 0.07 Tw 0 -1.167 TD [(before)12.2 ( commencement)12.2 ( of)12.1 ( production)12.2 ( coupled)12.1 ( with)12.2 ( daily)12.2 ( monitoring,)12.2 ( calculation)12.1 ( and)25 ( )]TJ 0.073 Tc T* [(prediction;)12.8 ( and)12.8 ( optimisation)12.8 ( of)12.8 ( operational)12.9 ( efficiency)12.8 ( by)12.8 ( prompt)12.8 ( adjustment)12.8 ( and)48 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (optimisation to production organisation and operation workload.)Tj 0.056 Tc 0.069 Tw -1.89 -2.333 Td [(3)31 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(S)0.5 (e)0.5 (i)0.5 (zi)0.5 (n)0.5 (g)13 ( q)0.5 (ua)0.5 (l)0.5 (i)0.5 (t)0.5 (y)13 ( )-0.6 (c)0.5 (o)0.5 (r)0.5 (e)13 ( e)0.5 (n)0.5 (d)12.9 ( c)0.5 (l)0.5 (i)0.5 (e)0.5 (n)0.5 (t)12.9 ( a)0.5 (n)0.5 (d)13 ( e)0.5 (xp)0.5 (l)0.5 (o)0.5 (r)0.5 (in)0.5 (g)13 ( m)0.5 (a)0.5 (r)0.5 (ke)0.5 (t)13 ( p)0.5 (o)0.5 (te)0.5 (n)0.5 (t)0.5 (i)0.5 (a)0.5 (l)13 ( )-0.6 (b)0.5 (y)13 ( o)0.5 (ur)13 ( s)0.5 (a)0.5 (l)0.5 (e)0.5 (s)13 ( )-0.6 (t)0.5 (e)0.5 (a)0.5 (m)13 ( t)0.5 (o)31 ( )]TJ 0.025 Tc 0 Tw T* (increase local sales volume and the number of sales regions with higher \pricing potential.)Tj -1.89 -2.333 Td (4.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Initiating production operation competition to further enhance the initi\ative of all the staff )Tj 0.063 Tc 0.07 Tw T* [(members,)12.5 ( while)12.6 ( securing)12.5 ( stable)12.6 ( production)12.6 ( and)12.5 ( exploring)12.6 ( potential)12.5 ( with)12.5 ( a)12.6 ( view)12.6 ( to)38 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (achieving higher operation goal.)Tj 0.063 Tc 0.07 Tw -1.89 -2.333 Td [(5)38 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(Adhering)12.8 ( to)12.8 ( the)12.8 ( \223annual)12.8 ( goal)12.8 ( of)12.8 ( turnaround\224)12.9 ( and)12.8 ( continuing)12.8 ( to)12.9 ( implement)12.9 ( various)38 ( )]TJ 0.03 Tc 0.078 Tw T* [(measures)5 ( )0.5 (under)5 ( )0.5 (the)5 ( )0.5 (philosophy)5 ( )0.5 (of)5 ( )0.5 (\223increasing)5 ( )0.5 (income,)5 ( )0.5 (minimising)5 ( )0.5 (cost)5 ( )0.5 (and)5 ( )0.5 (maximising)5 ( )]TJ 0.025 Tc 0 Tw T* (efficiency\224 to reduce operational costs and cash outflow.)Tj 0.03 Tc 0.078 Tw -1.89 -2.333 Td [(6)5 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(Maximising)5 ( )0.5 (OEM)5 ( )0.5 (and)5 ( )0.5 (trading)5 ( )0.5 (business)5.1 ( )0.5 (by)5 ( )0.5 (utilising)5 ( )0.5 (channels)5 ( )0.5 (and)5 ( )0.5 (resources)5 ( )0.5 (to)5.1 ( )0.5 (strive)5 ( )0.5 (for)5 ( )]TJ 0.025 Tc 0 Tw T* (the best operation scale and efficiency.)Tj -1.89 -2.333 Td (7.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Taking the initiatives to seek funding for timely launch of Phos-chemica\l project.)Tj ET endstreamendobj58 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 14 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (3.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Production capacity increased at Guangan\222s polyphenylene sulfide \(PP\S\) plant and its )Tj 0 -1.167 TD (products were well received by market)Tj /T1_0 1 Tf 0.026 Tw 0 -2.333 TD (Having gone through the steps of technology reform, commissioning, and o\ptimisation of )Tj 0.043 Tc 0.07 Tw 0 -1.167 TD [(operation)12.2 ( conditions,)12.2 ( Guangan\222s)12.2 ( PPS)12.2 ( plant)12.2 ( had,)12.2 ( since)12.2 ( January)12.2 ( 2)12.2 (0)12.1 (1)12.2 (7)12.2 (,)12.2 ( made)12.2 ( significant)18 ( )]TJ 0.025 Tc 0.064 Tw T* (advancement both in single-kettle and daily production volumes, while co\nsumption and )Tj 0.075 Tc 0.07 Tw 0 -1.167 TD [(cost)12.5 ( had)12.6 ( been)12.6 ( substantially)12.6 ( reduced.)12.6 ( Its)12.5 ( product)12.6 ( quality)12.6 ( was)12.6 ( reliable)12.6 ( and)12.6 ( widely)50 ( )]TJ 0.084 Tc 0 -1.167 TD [(recognised)12.3 ( by)12.4 ( the)12.4 ( market.)12.3 ( However,)12.4 ( affected)12.4 ( by)12.3 ( traditional)12.3 ( seasonal)12.4 ( factors)12.3 ( in)59 ( )]TJ 0.025 Tc 0 Tw T* (consumption of the market, operation of the facilities had been put to a\ halt since 20 April )Tj 0 -1.167 TD (2017. Production of the plant could be resumed depending on market condi\tions.)Tj /T1_2 1 Tf -1.89 -2.333 Td (Industry Overview and Outlook)Tj /T1_0 1 Tf 0.034 Tc 0.074 Tw 0 -2.333 TD [(In)9 ( )0.5 (2)9 (0)9 (1)9 (7)9 (,)9 ( )0.5 (there)9 ( )0.5 (are)9 ( )0.5 (more)9 ( )0.5 (than)9 ( )0.5 (2)9 (0)9 (0)9 ( )0.5 (sets)9 ( )0.5 (of)9 ( )0.5 (methanol)9 ( )0.5 (facilities)9 ( )0.5 (in)9 ( )0.5 (China,)8.9 ( )0.5 (with)9 ( )0.5 (total)9 ( )0.5 (production)9 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.167 TD [(capacity)12.2 ( of)12.2 ( 8)12.2 (3)12.2 (.)12.3 (0)12.2 (0)12.2 ( million)12.2 ( tonnes.)12.3 ( Newly)12.2 ( set)12.3 ( up)12.3 ( facilities)12.3 ( in)12.2 ( 2)12.2 (0)12.3 (1)12.2 (7)12.3 ( such)12.2 ( those)12.3 ( by)12.3 ( Zhongtian)17 ( )]TJ 0.044 Tc 0 -1.167 TD [(Hechuang)12.6 ( \()]TJ /C0_0 1 Tf 0.031 Tc -0.031 Tw 5.121 0 Td <029502C203A50BF4>Tj /T1_0 1 Tf 0.044 Tc 0.07 Tw [(\))12.6 ( and)12.6 ( Hualu)12.6 ( Hengsheng)12.6 ( \()]TJ /C0_0 1 Tf 0.031 Tc -0.031 Tw 15.406 0 Td <0D36128136EC02BA>Tj /T1_0 1 Tf 0.044 Tc 0.07 Tw [(\))12.6 ( had)12.6 ( added)12.6 ( 4)12.6 (.)12.6 (6)12.7 (0)12.6 ( million)12.6 ( tonnes)12.6 ( of)19 ( )]TJ 0.025 Tc -20.527 -1.167 Td (new capacity into the industry. From January to June 2017, the total out\put of methanol was )Tj 0.017 Tw 0 -1.167 TD (23,276,900 tonnes, an increase of 6.39% as compared with the correspondi\ng period last year. )Tj 0.042 Tc 0.07 Tw 0 -1.167 TD [(Accumulated)12.7 ( import)12.8 ( volume)12.8 ( of)12.7 ( methanol)12.8 ( was)12.8 ( 5)12.8 (,)12.7 (2)12.8 (6)12.8 (1)12.7 (,)12.8 (8)12.8 (0)12.8 (0)12.7 ( tonnes,)12.8 ( representing)12.8 ( a)12.8 ( substantial)17 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.167 TD [(increase)4.1 ( )0.5 (of)4 ( )0.5 (1)4 (9)4.1 (.)4 (1)4 (1)4 (%)4 ( )0.5 (as)4 ( )0.5 (compared)4 ( )0.5 (with)4.1 ( )0.5 (the)4 ( )0.5 (corresponding)4 ( )0.5 (period)4 ( )0.5 (last)4 ( )0.5 (year.)4 ( )0.5 (In)4 ( )0.5 (the)4.1 ( )0.5 (first)4.1 ( )0.5 (half)4 ( )0.5 (of)4 ( )]TJ 0.036 Tc 0.072 Tw T* [(2)11 (0)11 (1)11 (7)11 (,)11 ( )0.5 (average)11 ( )0.5 (domestic)11 ( )0.5 (market)11 ( )0.5 (price)11 ( )0.5 (of)11.1 ( )0.5 (methanol)11.1 ( )0.5 (was)11 ( )0.5 (RMB)11 (2)11 (,)11 (4)11 (6)11 (7)11 ( )0.5 (per)11 ( )0.5 (tonne,)11 ( )0.5 (representing)11 ( )0.5 (a)11 ( )]TJ 0.044 Tc 0.07 Tw 0 -1.167 TD [(ye)0.5 (ar-)0.5 (on-y)0.5 (ear)13 ( inc)0.5 (rea)0.5 (se)13 ( of)12.9 ( )0.5 (3)12.9 (0)12.9 (.)12.9 (4)13 (5)12.9 (%.)12.9 ( )0.5 (Comp)0.5 (ari)0.5 (ng)12.9 ( t)0.5 (o)12.9 ( th)0.5 (e)12.9 ( fi)0.5 (rst)13 ( hal)0.5 (f)12.9 ( o)0.5 (f)12.9 ( 2)12.9 (0)13 (1)12.9 (6)12.9 (,)12.9 ( t)0.5 (he)12.9 ( )0.5 (mar)0.5 (ket)12.9 ( )0.5 (pric)0.5 (e)12.9 ( o)0.5 (f)19 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.167 TD [(methanol)7 ( )0.5 (had)7 ( )0.5 (risen)7 ( )0.5 (remarkably)7 ( )0.5 (during)7 ( )0.5 (the)7 ( )0.5 (first)7 ( )0.5 (half)7 ( )0.5 (of)7 ( )0.5 (2)7 (0)7 (1)7 (7)7 (.)7 ( )0.5 (Consumption)7 ( )0.5 (of)7 ( )0.5 (methanol)7 ( )0.5 (fuel)7 ( )]TJ 0.043 Tc 0.07 Tw T* [(products)12.2 ( increased)12.2 ( significantly)12.2 ( and)12.2 ( stood)12.2 ( at)12.2 ( more)12.2 ( than)12.2 ( 5)12.2 (0)12.2 (0)12.3 (,)12.1 (0)12.3 (0)12.2 (0)12.2 ( barrels/day)12.2 ( as)12.2 ( of)12.2 ( to)12.2 ( date.)18.1 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.167 TD [(Similar)4 ( )0.5 (as)4.1 ( )0.5 (to)4 ( )0.5 (how)4 ( )0.5 (ethanol)4 ( )0.5 (was)4 ( )0.5 (blended)4 ( )0.5 (into)4 ( )0.5 (petrol)4 ( )0.5 (products)4 ( )0.5 (by)4 ( )0.5 (the)4 ( )0.5 (United)4 ( )0.5 (States,)4 ( )0.5 (China)4 ( )0.5 (had)4 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.167 TD (also been gradually scaling up the approach of adding methanol and its d\erivatives into petrol )Tj 0.064 Tw T* (and liquified petroleum gas \(LPG\). At the same time, consumption of me\thyl tert-butyl ether )Tj 0.045 Tw 0 -1.167 TD (\(MTBE\) which was a derivative of methanol and other derived consumptio\n reached 230,000 )Tj 0.031 Tc 0.077 Tw 0 -1.167 TD [(barrels/day)6 ( )0.5 (in)6 ( )0.5 (2)6 (0)6 (1)6 (6)6 (.)6 ( )0.5 (Going)6 ( )0.5 (forward,)6 ( )0.5 (consumption)6 ( )0.5 (of)6 ( )0.5 (methanol)6 ( )0.5 (used)6 ( )0.5 (as)6 ( )0.5 (fuel)6 ( )0.5 (additives)6 ( )0.5 (should)6 ( )]TJ 0.025 Tc 0.072 Tw T* (expand further. In contrast, the contribution from conventional downstre\am segment towards )Tj 0 Tw 0 -1.167 TD (the demand for methanol would be immaterial.)Tj 0.041 Tc 0.07 Tw 0 -2.333 TD [(In)12.8 ( 2)12.9 (0)12.9 (1)12.8 (7)12.9 (,)12.9 ( the)12.9 ( effective)12.9 ( production)12.9 ( capacity)12.9 ( of)12.9 ( urea)12.9 ( in)12.9 ( China)12.9 ( amounted)12.8 ( to)12.9 ( approximately)12.9 ( 8)12.9 (0)16 ( )]TJ 0.074 Tc 0 -1.167 TD [(million)12.8 ( tonnes.)12.8 ( Idle)12.9 ( capacity)12.8 ( in)12.8 ( short)12.9 ( or)12.9 ( long)12.9 ( term)12.9 ( amounted)12.8 ( to)12.8 ( 5)12.8 (.)12.8 (9)12.9 (0)12.8 ( million)12.9 ( tonnes.)49.1 ( )]TJ 0.051 Tc 0 -1.167 TD [(Withdrawn)12.1 ( capacity)12.1 ( amounted)12.1 ( to)12.1 ( 3)12.1 ( million)12.1 ( tonnes.)12.1 ( From)12 ( January)12.1 ( to)12.1 ( May)12.1 ( 2)12 (0)12.1 (1)12.1 (7)12 (,)12.1 ( the)12.1 ( total)26 ( )]TJ 0.028 Tc 0.08 Tw T* [(d)0.5 (o)0.5 (m)0.5 (e)0.5 (s)0.5 (t)0.5 (i)0.5 (c)3 ( )0.5 (o)0.5 (u)0.5 (t)0.5 (pu)0.5 (t)3 ( )0.5 (o)0.5 (f)3 ( )0.5 (u)0.5 (r)0.5 (e)0.5 (a)3.1 ( )0.5 (w)0.5 (a)0.5 (s)3 ( )0.5 (2)3 (6)3 (,)3 (2)3 (9)3 (1)3 (,)3 (9)3 (0)3 (0)3 ( )0.5 (t)0.5 (o)0.5 (n)0.5 (n)0.5 (e)0.5 (s)0.5 (,)3 ( )0.5 (a)3 ( )0.5 (d)0.5 (e)0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (s)0.5 (e)3 ( )0.5 (o)0.5 (f)3 ( )0.5 (1)3 (8)3 (.)3 (7)3 (3)3 (%)3 ( )0.5 (a)0.5 (s)3 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (r)0.5 (e)0.5 (d)3 ( )0.5 (w)0.5 (i)0.5 (t)0.5 (h)3 ( )0.5 (t)0.5 (h)0.5 (e)3 ( )]TJ 0.024 Tc 0 Tw 0 -1.167 TD [(corresponding period last year. Daily output amounted to 156,900 tonnes,\ a decrease of 36,300)-1 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.167 TD (tonnes or 18.9% as compared with the corresponding period last year. The\ capacity utilization )Tj 0.032 Tc 0.076 Tw T* [(was)7 ( )0.5 (around)7 ( )0.5 (5)7 (9)7 (.)7 (6)7 (3)7 (%.)7 ( )0.5 (Urea)7 ( )0.5 (imports)7 ( )0.5 (amounted)7 ( )0.5 (to)6.9 ( )0.6 (1)6.9 (5)7 (3)7 (,)7 (9)7 (0)7 (0)7 ( )0.6 (tonnes,)7 ( )0.5 (representing)7 ( )0.5 (a)7 ( )0.5 (year-on-year)7 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.167 TD [(increase)12.9 ( of)12.9 ( 9)12.9 (6)12.8 (.)12.9 (1)12.9 (2)12.9 (%,)12.9 ( while)12.9 ( urea)12.9 ( exports)12.9 ( were)12.9 ( 2)12.9 (,)12.9 (5)12.8 (4)12.9 (5)12.9 (,)12.9 (8)12.9 (0)12.8 (0)12.9 ( tonnes,)12.9 ( representing)12.8 ( a)12.9 ( year-on-year)13 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.167 TD [(decrease)4 ( )0.5 (of)4 ( )0.5 (5)4 (0)4 (.)4 (5)4 (%.)4 ( )0.5 (The)4 ( )0.5 (apparent)4 ( )0.5 (consumption)4 ( )0.5 (of)4 ( )0.5 (urea)4 ( )0.5 (was)4 ( )0.5 (2)4 (1)4 (,)4 (6)4 (1)4 (3)4 (,)4 (0)4 (0)4.1 (0)4 ( )0.5 (tonnes,)4 ( )0.5 (a)4.1 ( )0.5 (decrease)4.1 ( )0.5 (of)4 ( )]TJ 0.049 Tc 0.07 Tw T* [(1)13 (2)12.9 (.)13 (2)13 (%)13 ( )0.5 (as)13 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (pa)0.5 (r)0.5 (e)0.5 (d)13 ( )0.5 (wi)0.5 (t)0.5 (h)13 ( t)0.5 (h)0.5 (e)13 ( )0.5 (co)0.5 (r)0.5 (r)0.5 (e)0.5 (s)0.5 (po)0.5 (n)0.5 (d)0.5 (in)0.5 (g)13 ( )0.5 (pe)0.5 (r)0.5 (i)0.5 (o)0.5 (d)12.9 ( )0.5 (l)0.5 (a)0.5 (s)0.5 (t)12.9 ( )0.5 (y)0.5 (e)0.5 (a)0.5 (r.)13 ( )0.5 (A)0.5 (s)13 ( )0.5 (of)13 ( )0.5 (t)0.5 (he)13 ( )0.5 (e)0.5 (n)0.5 (d)13 ( o)0.5 (f)13 ( )0.5 (J)0.5 (un)0.5 (e)13 ( )0.5 (2)13 (0)12.9 (1)13 (7)13 (,)24 ( )]TJ 0.025 Tc 0.007 Tw 0 -1.167 TD (domestic The domestic average ex-factory price of urea was RMB1,561/tonn\es, representing a )Tj 0 Tw 0 -1.167 TD (year-on-year increase of RMB238 or 18.08%.)Tj ET endstreamendobj59 0 obj<>endobj61 0 obj[62 0 R]endobj62 0 obj<>endobj63 0 obj<>endobj64 0 obj<>endobj65 0 obj<>stream H塲`?` 凾 RM]AM?0え endstreamendobj66 0 obj<>stream H塗T p咿姍恀*蒄6HHLRp囆帖al^?恶C~蓶dlK柇桹果濐N/[~D柋y %??ど@)JK覹?漣囄瀁戶淟;撦欇o?孢o?f晩?匯?奉蹨籹想 5e[wYQV?X)i琂'-TJ:iE錙鞳'1J暈桖X柾/@i懅ZJ%樆u_?籇瑃泐?_-^灡Q_k獰蜆矜诘?j?鰵jK3rJ*蔶2v6柆倘嗜焑5d錀6斨7晼琝倒啕揸寬毅??__]T髢Cm瑽鈸.'].6锷髾 瑱P剔慊#_V懁(Rb省缥'鱽x ?a$碞骦)o累齔x'Ds`荱趸颾垇瘉勒垇篆菒 Y裉q,7OsZ笹蠢€_" 墕e< Rf^澒GR塃H?劝軈绤利处嫌k QB+c珉兤?嬔K坌川榬9措戵寥縶-睫馭崈?0Z┌P囲]Gmh9z虯猏秋澗3耠O菌#燋A鶆謮~QKIG1L柄胉s涃d29g{t楬?萐t鸕t>劜墟eH鱯穬羪鐮鈸菑峻? 男妅h)$戲l觅厚謶袼K傍幮諴粢巾pa%岳o躩c糵?f8ijl6ウ镉0启逼YaH<#UA6型QYt曊駧.辠H(x鏑}.:R哂豙**R鄃r-磝剨補亐易$抈5斃OH徦悚〨盔曛弋!?(Μ#Z裨喙K??瓫@檺x緀飰w姑U彡攱譅|a,y篫废珣龉嵄簶aP榆忠d2)0>L聤瓈i? ?螀e瑼Cü稱Po D戕^U畏熾鬶`?俞墊?.V恠箪晔莪EiG娟5澦n礅碛u镬踽迻+Ck$蜍€?#p?;酗ITqX序?dJ_宆F?躢g<?狉亰Sx|奈{}倵訦cd酰B 眲 wR"!-%m韠韠豞p噧秳軅Ks卞?O;芲 E菆?轍uP 搭賘扄y>? 鮲{儂眾珣c蚳>YX祓X+垡?镀爰躯j?A?>条v)O鏏@n篠xCIY 鸙嗀lL噮 缥▊A鰋b蟸鈺槜i:踹H叾丼旫忂塍h鄰P:肬淕餽崵X姦纇%F骯?v燒€秥蠴蒝事筻?zEN €EH?寠胸,N~??鴈??} (a偒mSl忦?柚灻溴|c艩棑[ ?寞砏醊踕酝丰区痘X侍G覠I黹喽]W9婗{F麊?杰诞栶鰶阠Q堽3襪 凴鐀tw差脫? 稭奱?閇瘀蔂燤腶1 嬜 椐甚╞呋T瀷I縙v萧瑈拣ER﹁#窳x,>▉6P[Y??爯?yq膅孓P肞鋅佬S躵=枳^?厁雂$?€[葎鍷I擫J?摔鵧??6餗垛Q?6聞?^;- 魩嵈{渧噑爩:膻D貄.烥a"疻x篱frZ佛jN啸澅~?bw嵌D偛酚銧?歄敍岉躅?g售B定+漫驅镉纔賎玣鰮滲[胸k擬hgn)紲H鋪1筪~?[矒兵OO-~渝磚Z逯馘td澚4>鑽鷥?繇臛|} 芩皩@ 薘>"褆剬Xz:妻籂?`铖??粗k?瘊冃虥8 彵Q?3J伎)z"t榟Y..曘h嶬桮>爼?翌瘡緮穇濔儽r眺漬ld瘂?嘰aM序涁SG摮F钔2瞂替F耹皺诖ХKg?tsjL+=^L"\}=I栄?JQ$)晄_斠U漱K#*H猠?btA[@Z嗇"@葺襏柞嶂ミ澎呶諘毗欩躟庈,3銀x鋽婠梥]?s>锆戇}?琻輑2 <淜r/铄? 0泞.} endstreamendobj57 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 13 \226)Tj 0.046 Tc 0.07 Tw -18.766 58.583 Td [(During)12.5 ( the)12.5 ( period)12.5 ( under)12.5 ( review,)12.5 ( due)12.5 ( to)12.4 ( unfavourable)12.5 ( macro-economic)12.5 ( conditions)12.5 ( and)12.5 ( the)21.1 ( )]TJ 0 -1.167 TD [(uncertain)12.5 ( outlook)12.5 ( of)12.5 ( fertilizers)12.5 ( and)12.5 ( chemicals)12.5 ( industry)12.5 ( as)12.5 ( a)12.5 ( whole)12.6 ( \(notwithstanding)12.5 ( some)21.1 ( )]TJ 0.059 Tc T* [(p)0.5 (r)0.5 (e)0.5 (l)0.5 (i)0.5 (mi)0.5 (n)0.5 (a)0.5 (r)0.5 (y)13 ( )0.5 (s)0.5 (ig)0.5 (n)0.5 (s)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (r)0.5 (ec)0.6 (o)0.5 (ve)0.5 (r)0.5 (y)0.5 (\))0.5 (,)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 ( )0.5 (r)0.5 (e)0.5 (ma)0.5 (i)0.5 (n)0.5 (e)0.5 (d)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (lo)0.5 (s)0.5 (s)0.5 (-)0.5 (m)0.5 (a)0.5 (k)0.5 (i)0.5 (ng)13 ( )0.5 (p)0.5 (o)0.5 (s)0.5 (i)0.5 (ti)0.5 (o)0.5 (n)13 ( )0.5 (\()0.5 (a)0.5 (l)0.5 (be)0.5 (i)0.5 (t)13 ( )0.5 (t)0.5 (h)0.5 (e)34 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.167 TD [(operating conditions )0.5 (had somewhat )0.5 (improved\) and )0.5 (tight in )0.5 (working capital. )0.5 (Compounded )0.5 (with )]TJ 0.048 Tw 0 -1.167 TD [(the )0.5 (fact that )0.5 (some )0.5 (project financing )0.5 (arrangements )0.5 (had not )0.5 (yet been )0.5 (finalised, )0.5 (constructions )0.5 (of )]TJ 0 Tw T* (all new projects of the Group remained on hold.)Tj /T1_1 1 Tf 0 -2.333 TD (1.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Operation of Guangan Plant was stable with its daily production repeated\ly hitting new )Tj -0.025 Tw 0 -1.167 TD (records)Tj /T1_0 1 Tf 0.045 Tc 0.07 Tw 0 -2.333 TD [(Guangan)12.6 ( Plant)12.6 ( has)12.6 ( now)12.6 ( been)12.6 ( in)12.6 ( operation)12.7 ( for)12.6 ( 1)12.7 (4)12.6 ( months)12.6 ( since)12.6 ( its)12.7 ( resumption)12.6 ( in)12.6 ( May)20 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (2016. All of the daily production and consumption data of the facilities\ had either reached )Tj 0.062 Tc 0.07 Tw 0 -1.167 TD [(their)12.3 ( designed)12.3 ( level)12.3 ( or)12.3 ( exceeded)12.3 ( their)12.3 ( historical)12.2 ( records.)12.3 ( In)12.2 ( particular,)12.3 ( the)12.3 ( highest)37 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.167 TD [(production)5 ( )0.5 (output)5 ( figure)5 ( )0.5 (registered)5 ( )0.5 (by)5.1 ( the)5 ( )0.5 (facility)5 ( )0.5 (for)5 ( )0.5 (synthetic)5 ( )0.5 (ammonia)5 ( )0.5 (purge)5 ( )0.5 (gas)5 ( )0.5 (had)5 ( )]TJ 0.046 Tc 0.07 Tw T* [(successfully)12.4 ( hit)12.3 ( the)12.3 ( daily)12.4 ( production)12.4 ( target)12.4 ( set)12.4 ( by)12.3 ( the)12.4 ( Board)12.4 ( i.e.)12.4 ( \037)12.4 (5)12.3 (0)12.4 (0)12.3 ( tonnes)12.3 ( \()12.3 (5)12.4 (0)12.3 (1)12.3 (.)12.4 (9)12.3 (4)21 ( )]TJ 0.049 Tc 0 -1.167 TD [(tonnes\).)12 ( It)12.1 ( had)12 ( also)12.1 ( set)12.1 ( several)12.1 ( records)12.1 ( in)12.1 ( operation)12 ( included)12.1 ( 3)12.1 (5)12 ( consecutive)12 ( days)12.1 ( of)24 ( )]TJ 0.038 Tc 0 -1.167 TD [(consistent)12.7 ( operation)12.8 ( at)12.7 ( high)12.7 ( production)12.7 ( level,)12.7 ( 5)12.7 (0)12.7 (5)12.7 (.)12.7 (9)12.7 (3)12.8 ( tonnes)12.7 ( in)12.7 ( average)12.7 ( daily)12.7 ( ammonia)13 ( )]TJ 0.025 Tc 0.036 Tw T* (production volume, 508.71 tonnes in highest daily ammonia production vol\ume, bringing )Tj 0.046 Tw 0 -1.167 TD (about excellent economic efficiency. Since 28 May 2017, natural gas pric\e has been able )Tj 0.026 Tc 0.082 Tw 0 -1.167 TD [(to)1 ( )0.5 (enjoy)1 ( )0.5 (the)1.1 ( preferential)1 ( )0.5 (volume-price-linking)0.9 ( )0.6 (policy.)1 ( )0.5 (Coupled)1 ( )0.5 (with)1 ( )0.5 (the)1 ( )0.5 (benefit)1 ( )0.5 (of)1 ( )0.5 (direct)1 ( )]TJ 0.052 Tc 0.07 Tw T* [(power)12.2 ( purchases)12.3 ( and)12.2 ( preferential)12.2 ( treatment)12.2 ( afforded)12.3 ( by)12.2 ( the)12.3 ( policy)12.3 ( for)12.2 ( absorption)12.3 ( of)27 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (surplus electricity, the production and operation costs were further red\uced.)Tj /T1_1 1 Tf -1.89 -2.333 Td (2.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Production had resumed at Dazhou Plant and the facilities were running s\teadily and )Tj -0.025 Tw T* (smoothly)Tj /T1_0 1 Tf 0.026 Tc 0.082 Tw 0 -2.333 TD [(Since)1 ( )0.5 (the)1 ( )0.5 (resumption)1 ( )0.5 (of)1 ( )0.5 (its)1 ( )0.5 (production)1 ( )0.5 (in)1 ( )0.5 (December)1 ( )0.5 (2)1 (0)1 (1)1 (6)1 (,)1 ( )0.5 (the)1 ( )0.5 (facilities)1 ( )0.5 (at)1 ( )0.5 (Dazhou)1 ( )0.5 (Plant)1 ( )]TJ 0.052 Tc 0.07 Tw 0 -1.167 TD [(had)12.8 ( been)12.8 ( running)12.8 ( smoothly)12.8 ( and)12.7 ( steadily.)12.8 ( Daily)12.8 ( production)12.8 ( volume)12.8 ( of)12.8 ( both)12.8 ( synthetic)27 ( )]TJ 0.025 Tc 0.066 Tw 0 -1.167 TD (ammonia and urea products had quickly returned to their normal levels, w\ith each set of )Tj 0.002 Tw T* [(consumption indicators )0.5 (hitting the historical standard for the same period of time. Dazhou )]TJ 0.018 Tw 0 -1.167 TD (Plant was also able to enjoy the benefits from the policy of concerted p\rice movement for )Tj 0.073 Tc 0.07 Tw 0 -1.167 TD [(natural)12.1 ( gas)12.2 ( and)12.1 ( urea)12.2 ( as)12.1 ( well)12.1 ( as)12.2 ( the)12.1 ( direct)12.2 ( power)12.1 ( purchase)12.1 ( policy,)12.1 ( which)12.1 ( gave)12.1 ( an)48 ( )]TJ 0.038 Tc T* [(opportunity)12.4 ( for)12.5 ( Dazhou)12.5 ( Plant)12.4 ( to)12.4 ( successfully)12.4 ( navigate)12.5 ( through)12.5 ( the)12.5 ( turmoil)12.5 ( period.)12.5 ( The)13 ( )]TJ 0.025 Tc 0.072 Tw 0 -1.167 TD [(sales )0.5 (team of )0.5 (the )0.5 (Group was )0.5 (in full )0.5 (force )0.5 (striving )0.5 (to )0.5 (adjust )0.5 (and )0.5 (optimise the )0.5 (distribution )]TJ 0.053 Tc 0.07 Tw 0 -1.167 TD [(c)0.5 (ha)0.5 (n)0.5 (ne)0.5 (ls)13 ( )0.5 (an)0.5 (d)13 ( i)0.5 (nc)0.5 (r)0.5 (ea)0.5 (s)0.5 (e)12.9 ( )0.5 (t)0.5 (he)13 ( )0.5 (ra)0.5 (t)0.5 (io)13 ( o)0.5 (f)12.9 ( )0.5 (d)0.5 (om)0.5 (es)0.5 (t)0.5 (ic)13 ( )0.5 (sa)0.5 (le)0.5 (s)13 ( )0.5 (of)13 ( o)0.5 (u)0.5 (r)12.9 ( )0.5 (pr)0.5 (o)0.5 (du)0.5 (ct)0.5 (s)0.5 (,)12.9 ( )0.5 (a)0.5 (nd)13 ( e)0.5 (v)0.5 (en)0.5 (tu)0.5 (a)0.5 (ll)0.5 (y)12.9 ( )0.5 (t)0.5 (o)27.9 ( )]TJ 0.027 Tc 0.081 Tw T* [(achieve)2.1 ( )0.5 (higher)2 ( )0.5 (pricing)2 ( )0.5 (for)1.9 ( )0.5 (products,)2 ( )0.5 (maximise)2 ( )0.5 (product)2 ( )0.5 (sales)2 ( )0.5 (and)2 ( )0.5 (realise)2 ( )0.5 (full)2 ( )0.5 (recovery)2 ( )0.5 (of)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (account receivables.)Tj ET endstreamendobj56 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 12 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (MANAGEMENT DISCUSSION AND ANALYSIS)Tj 0 -2.333 TD (Financial Performance)Tj /T1_0 1 Tf 0.048 Tc 0.07 Tw 0 -2.333 TD [(For)12.8 ( the)12.9 ( six)12.8 ( months)12.9 ( ended)12.8 ( 3)12.8 (0)12.8 ( June)12.8 ( 2)12.8 (0)12.8 (1)12.9 (7)12.8 (,)12.9 ( the)12.8 ( Group)12.8 ( recorded)12.8 ( a)12.8 ( turnover)12.9 ( of)12.9 ( approximately)23 ( )]TJ 0.061 Tc 0 -1.167 TD [(RMB)12.1 (1)12.2 (,)12.1 (7)12.1 (8)12.1 (5)12.2 ( million,)12.2 ( representing)12.2 ( an)12.1 ( increase)12.2 ( of)12.2 ( approximately)12.2 ( 1)12.1 (4)12.2 (9)12.1 (%)12.2 ( as)12.2 ( compared)12.1 ( with)36 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.167 TD [(a)0.5 (pp)0.5 (ro)0.5 (xi)0.5 (ma)0.5 (te)0.5 (l)0.5 (y)11 ( )0.5 (RM)0.5 (B)11 (7)11 (1)11 (6)11 ( )0.5 (mi)0.5 (ll)0.5 (io)0.5 (n)11 ( )0.5 (fo)0.5 (r)11 ( )0.5 (th)0.5 (e)11 ( )0.5 (c)0.5 (or)0.5 (re)0.5 (s)0.5 (po)0.5 (nd)0.5 (in)0.5 (g)11 ( )0.5 (pe)0.5 (ri)0.5 (od)11 ( )0.5 (l)0.5 (a)0.5 (st)11 ( )0.5 (y)0.5 (ea)0.5 (r)0.5 (.)10.9 ( )0.6 (Lo)0.5 (ss)11 ( )0.5 (a)0.5 (tt)0.5 (r)0.5 (ib)0.5 (ut)0.5 (ab)0.5 (le)11 ( )0.5 (t)0.5 (o)11 ( )]TJ 0.025 Tc 0.022 Tw 0 -1.167 TD (shareholders was approximately RMB71.7 million \(2016: first half year l\oss of approximately )Tj 0.04 Tc 0.07 Tw T* [(RMB)12.3 (1)12.2 (2)12.4 (7)12.2 (.)12.3 (7)12.3 ( million\),)12.2 ( representing)12.3 ( a)12.3 ( decrease)12.2 ( of)12.3 ( loss)12.3 ( of)12.3 ( approximately)12.3 ( RMB)12.3 (5)12.3 (6)12.3 (.)12.3 (0)12.3 ( million)12.2 ( as)15 ( )]TJ 0.039 Tc 0 -1.167 TD [(compared)12.6 ( with)12.6 ( the)12.5 ( corresponding)12.5 ( period)12.5 ( last)12.5 ( year.)12.5 ( Basic)12.6 ( loss)12.6 ( per)12.6 ( share)12.5 ( was)12.5 ( approximately)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (RMB1.67 fen \(2016: first half year basic loss per share of approximatel\y RMB3.13 fen\).)Tj 0.068 Tw 0 -2.333 TD (During the period under review, the total sales volume \(excluding the t\rading portion\) of the )Tj 0.024 Tc 0 Tw 0 -1.167 TD [(Group reached approximately 597,215 tonnes \(2016: 114,200 tonnes\), rep\resenting an increase)-1 ( )]TJ 0.025 Tc T* (of 423% as compared with that of the corresponding period last year.)Tj 0.089 Tc 0.07 Tw 0 -2.333 TD [(For)12.5 ( the)12.6 ( period)12.5 ( under)12.6 ( review,)12.5 ( the)12.5 ( gross)12.6 ( profit)12.6 ( margin)12.6 ( of)12.6 ( the)12.6 ( Group)12.5 ( increased)12.6 ( from)64 ( )]TJ 0.038 Tc 0 -1.167 TD [(approximately)12.4 ( -)12.5 (4)12.4 (%)12.5 ( to)12.5 ( 3)12.4 (%)12.5 ( as)12.5 ( compared)12.5 ( with)12.4 ( the)12.5 ( corresponding)12.5 ( period)12.5 ( last)12.5 ( year,)12.5 ( which)12.5 ( was)13 ( )]TJ 0.087 Tc 0 -1.167 TD [(mainly)12.5 ( due)12.4 ( to)12.4 ( the)12.5 ( increase)12.5 ( in)12.5 ( selling)12.5 ( price)12.5 ( of)12.5 ( products.)12.5 ( Cost)12.5 ( of)12.5 ( sales)12.5 ( amounted)12.5 ( to)62 ( )]TJ 0.065 Tc 0 -1.167 TD [(a)0.5 (p)0.5 (p)0.5 (r)0.5 (o)0.5 (xi)0.5 (m)0.5 (a)0.5 (t)0.5 (e)0.5 (l)0.5 (y)13 ( )0.5 (R)0.5 (M)0.5 (B)13 (1)12.9 (,)13 (7)13 (3)13 (7)13 ( )0.5 (m)0.5 (i)0.5 (ll)0.5 (i)0.5 (o)0.5 (n)0.5 (,)13 ( )0.5 (re)0.5 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (e)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( a)0.6 (n)12.9 ( )0.5 (i)0.5 (n)0.5 (c)0.5 (r)0.5 (e)0.5 (a)0.5 (s)0.5 (e)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (a)0.5 (pp)0.5 (r)0.5 (o)0.5 (x)0.5 (i)0.5 (m)0.5 (a)0.5 (t)0.5 (e)0.5 (l)0.5 (y)12.9 ( )0.5 (1)13 (3)13 (3)13 (%)13 ( )0.5 (a)0.5 (s)40 ( )]TJ 0.036 Tc 0.072 Tw T* [(compared)11 ( )0.5 (with)11 ( )0.5 (the)11 ( )0.5 (corresponding)11 ( )0.5 (period)11 ( )0.5 (last)11 ( )0.5 (year)11 ( )0.5 (due)11 ( )0.5 (to)11 ( )0.5 (the)11.1 ( )0.5 (increase)11 ( )0.5 (in)11 ( )0.5 (sales.)11 ( )0.5 (Distribution)11 ( )]TJ 0.025 Tc 0.037 Tw 0 -1.167 TD (costs increased by approximately 754%, due to the resume operation of Da\zhou Plant and the )Tj 0.068 Tw 0 -1.167 TD (increase in sales. The administrative expenses decreased by approximatel\y 47% as compared )Tj 0.038 Tc 0.07 Tw T* [(with)12.3 ( the)12.3 ( corresponding)12.3 ( period)12.3 ( last)12.3 ( year,)12.3 ( due)12.3 ( to)12.3 ( the)12.3 ( depreciation)12.3 ( charge)12.3 ( from)12.3 ( Dazhou)12.3 ( Plant)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (amounting to approximately RMB38 million in the corresponding period las\t year.)Tj /T1_1 1 Tf 0 -2.333 TD (Business Review)Tj /T1_0 1 Tf 0.002 Tw 0 -2.333 TD (During the period under review, facilities of Guangan Company had been r\unning steadily and )Tj 0.039 Tc 0.07 Tw 0 -1.167 TD [(s)0.5 (m)0.5 (o)0.5 (o)0.5 (t)0.5 (h)0.5 (l)0.5 (y)0.5 (,)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (u)0.5 (e)0.6 (d)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (h)0.5 (i)0.5 (t)13 ( )0.5 (n)0.5 (e)0.5 (w)13.1 ( )0.5 (r)0.5 (e)0.5 (c)0.5 (o)0.5 (r)0.5 (d)0.5 (s)13 ( )0.6 (i)0.5 (n)13 ( )0.5 (d)0.5 (a)0.5 (i)0.5 (l)0.5 (y)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (d)0.6 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (i)0.5 (n)0.5 (d)0.5 (i)0.5 (c)0.5 (a)0.5 (t)0.6 (o)0.5 (r)0.5 (s)0.5 (.)13 ( )0.5 (M)0.5 (e)0.5 (a)0.5 (n)0.5 (w)0.6 (h)0.5 (i)0.5 (l)0.5 (e)0.5 (,)13 ( )0.5 (t)0.5 (h)0.5 (e)14 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.167 TD [(facilities)12 ( )0.5 (at)12 ( )0.5 (Dazhou)12 ( )0.5 (Company)12 ( )0.5 (had)12 ( )0.5 (also)12 ( )0.5 (successfully)11.9 ( )0.6 (resumed)12 ( )0.5 (production)12 ( )0.5 (and)12 ( )0.5 (achieved)12 ( )0.5 (high)12 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.167 TD (level of safety and reliability in operation. As to our entity in the ne\w materials division, the )Tj 0.039 Tc 0.07 Tw T* [(PP)0.5 (S)12.9 ( )0.5 (fa)0.5 (ci)0.5 (li)0.5 (tie)0.5 (s)13 ( a)0.5 (ls)0.5 (o)12.9 ( h)0.5 (a)0.5 (d)12.9 ( i)0.5 (ts)13 ( o)0.5 (pe)0.5 (ra)0.5 (ti)0.5 (on)13 ( c)0.5 (ond)0.5 (it)0.5 (io)0.5 (ns)13 ( op)0.5 (ti)0.5 (mi)0.5 (se)0.5 (d,)13 ( w)0.5 (ith)13 ( s)0.5 (ig)0.5 (ni)0.5 (fic)0.5 (a)0.5 (nt)12.9 ( )0.5 (e)0.5 (nha)0.5 (nc)0.5 (e)0.5 (me)0.5 (nt)12.9 ( )0.5 (in)14 ( )]TJ 0.025 Tc 0.007 Tw 0 -1.167 TD (both single-kettle and daily production volumes, and substantial reducti\on in consumption and )Tj 0.005 Tw 0 -1.167 TD [(cost. )0.5 (Its )0.5 (products )0.5 (were )0.5 (well-received )0.5 (in )0.5 (the )0.5 (market. )0.5 (Our )0.5 (agrochemical )0.5 (division )0.5 (was )0.5 (also )0.5 (on )0.5 (the )]TJ 0.053 Tc 0.07 Tw T* [(offensive)12.5 ( in)12.5 ( full)12.5 ( scale.)12.4 ( With)12.5 ( its)12.4 ( channel)12.5 ( adjustment)12.5 ( and)12.5 ( optimisation)12.5 ( and)12.5 ( reinforced)12.5 ( co-)]TJ 0.031 Tc 0.077 Tw 0 -1.167 TD [(operation,)6.1 ( the)6.1 ( division)6 ( )0.5 (recorded)6 ( )0.5 (1)6 (0)6 (0)6 (%)6 ( )0.5 (growth)6 ( )0.5 (in)6 ( )0.5 (both)6 ( )0.5 (product)6 ( )0.5 (delivery)6 ( )0.5 (and)6 ( )0.5 (trade)6 ( )0.5 (receivable)6 ( )]TJ 0.025 Tc 0.021 Tw 0 -1.167 TD (collections on the front of product sale, meeting the expectation in net\ operating cash flow. In )Tj 0.044 Tw T* [(general, )0.5 (the )0.5 (management )0.5 (of )0.5 (the )0.5 (Group )0.5 (had )0.5 (been )0.5 (strengthened, )0.5 (and )0.5 (the )0.5 (Group\222s )0.5 (operation )0.5 (as )0.5 (a )]TJ 0.029 Tc 0.079 Tw 0 -1.167 TD [(whole)4 ( )0.5 (was)4 ( )0.5 (heading)4 ( )0.5 (towards)4 ( )0.5 (the)4.1 ( )0.5 (right)4 ( )0.5 (track.)4 ( )0.5 (However,)4 ( )0.5 (its)4 ( )0.5 (overall)4 ( )0.5 (operating)4.1 ( )0.5 (performance)4 ( )0.5 (was)4 ( )]TJ 0.067 Tc 0.07 Tw 0 -1.167 TD [(restrained)12.9 ( by)12.8 ( an)12.9 ( external)12.8 ( macro-economic)12.8 ( and)12.8 ( business)12.9 ( environment)12.8 ( characterised)12.8 ( by)42 ( )]TJ 0.025 Tc 0.075 Tw T* (tightening liquidity and credit, continuing excessive supply over demand\ in the conventional )Tj 0.051 Tc 0.07 Tw 0 -1.167 TD [(chemicals)12.3 ( and)12.3 ( fertilizers)12.4 ( market,)12.4 ( sustaining)12.3 ( inflation)12.3 ( in)12.3 ( raw)12.4 ( material)12.3 ( costs,)12.3 ( and)12.3 ( ongoing)25.9 ( )]TJ 0.023 Tc 0 Tw 0 -1.167 TD [(downward trend in selling prices of certain products. Hence, the overall\ operating performance)-2 ( )]TJ 0.032 Tc 0.076 Tw T* [(still)7 ( )0.5 (fell)7 ( )0.5 (short)7 ( )0.5 (of)7.1 ( )0.5 (expectations)7 ( )0.5 (and)7 ( )0.5 (remained)7 ( )0.5 (in)7 ( )0.5 (loss-making.)7 ( )0.5 (Our)7 ( )0.5 (goal)7 ( )0.5 (and)7 ( )0.5 (envisaged)7 ( )0.5 (results)7.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (had yet been materialised.)Tj ET endstreamendobj54 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 11 \226)Tj /T1_1 1 Tf 0.668 Tw 10 0 0 10 56.6929 728.7079 Tm (10.)Tj /Span<>> BDC ( )Tj EMC (BORROWINGS)Tj -0.025 Tw 34.268 -2.4 Td (\(Unaudited\))Tj /T1_0 1 Tf 9.833 0 Td (\(Audited\))Tj /T1_1 1 Tf 0 Tw -6.71 -1.2 Td (As at)Tj /T1_0 1 Tf 8.615 0 Td (As at)Tj /T1_1 1 Tf -9.777 -1.2 Td (30 June)Tj /T1_0 1 Tf 6.351 0 Td (31 December)Tj /T1_1 1 Tf -0.025 Tw -4.97 -1.2 Td (2017)Tj /T1_0 1 Tf 8.504 0 Td (2016)Tj /T1_2 1 Tf -10.635 -1.2 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.4 Td (Short-term borrowings)Tj /T1_1 1 Tf -0.025 Tw 33.217 0 Td (1,307,503)Tj /T1_0 1 Tf 8.504 0 Td (1,316,013)Tj 0 Tw -41.721 -1.2 Td (Long-term borrowings repayable:)Tj 0 -1.2 TD (Less than 1 year)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (166,780)Tj /T1_0 1 Tf 8.504 0 Td (220,640)Tj 0 Tw -42.521 -1.2 Td (Between 1 and 2 years)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (70,280)Tj /T1_0 1 Tf 7.979 0 Td (128,320)Tj 0 Tw -42.521 -1.2 Td (Between 2 and 5 years)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (257,961)Tj /T1_0 1 Tf 8.504 0 Td (349,962)Tj 0 Tw -42.521 -1.2 Td (Over 5 years)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (292,000)Tj /T1_0 1 Tf 9.029 0 Td (90,000)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 568.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 568.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 568.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 568.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 545.6989 Tm (787,021)Tj /T1_0 1 Tf 8.504 0 Td (788,922)Tj 0 Tw -42.521 -1.2 Td (Within 1 year included in current liabilities)Tj /T1_1 1 Tf -0.025 Tw 33.634 0 Td (\(166,780\))Tj /T1_0 1 Tf 8.504 0 Td (\(220,640\))Tj ET q 1 0 0 1 379.8425 529.2399 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 529.0069 Tm ( )Tj ET q 1 0 0 1 464.8818 529.2399 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 529.0069 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 506.6898 Tm (620,241)Tj /T1_0 1 Tf 8.504 0 Td (568,282)Tj ET 1.11 w q 1 0 0 1 379.8425 502.0391 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 499.9391 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 499.6111 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 502.0391 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 499.9391 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 499.6111 Tm ( )Tj 0.025 Tc 0.003 Tw 10 0 0 10 79.3701 478.994 Tm (As at 30 June 2017, the borrowings of the Group were generally secured b\y certain fixed assets and pledged )Tj 0.034 Tw T* (cash deposits of the Group. These borrowings bear interest at the rate o\f 4.35% to 15.00% \(2016: 4.79% to )Tj 0 Tw T* (15.00%\) per annum.)Tj /T1_1 1 Tf -2.268 -2.4 Td (11.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (DEFERRED INCOME TAX)Tj /T1_0 1 Tf 0.041 Tc 0.07 Tw 0 -2.4 TD [(T)0.6 (h)0.5 (e)0.6 (r)0.5 (e)13.1 ( )0.5 (w)0.6 (e)0.5 (r)0.6 (e)13 ( )0.6 (n)0.5 (o)13.1 ( )0.5 (o)0.6 (f)0.5 (f)0.6 (s)0.5 (e)0.6 (t)0.5 (t)0.6 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (o)0.6 (f)13 ( )0.6 (d)0.5 (e)0.6 (f)0.5 (e)0.6 (r)0.5 (r)0.6 (e)0.5 (d)13.1 ( )0.5 (i)0.6 (n)0.5 (c)0.6 (o)0.5 (m)0.6 (e)13 ( )0.6 (t)0.5 (a)0.6 (x)13 ( )0.6 (a)0.5 (s)0.6 (s)0.5 (e)0.6 (t)0.5 (s)13.1 ( )0.5 (a)0.6 (n)0.5 (d)13.1 ( )0.5 (l)0.6 (i)0.5 (a)0.6 (b)0.5 (i)0.6 (l)0.5 (i)0.5 (t)0.6 (i)0.5 (e)0.6 (s)13 ( )0.6 (i)0.5 (n)13.1 ( )0.5 (2)13.1 (0)13 (1)13 (6)13.1 ( )0.5 (a)0.6 (n)0.5 (d)13.1 ( )0.5 (i)0.6 (n)13 ( )0.6 (s)0.5 (i)0.6 (x)13 ( )0.5 (m)0.6 (o)0.5 (n)0.6 (t)0.5 (h)0.6 (s)13 ( )0.6 (p)0.5 (e)0.6 (r)0.5 (i)0.6 (o)0.5 (d)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.2 TD (ended 2017.)Tj 0 -2.4 TD (Deferred income tax assets:)Tj /T1_1 1 Tf -0.025 Tw 22.641 -2.4 Td (Loss)Tj 0 Tw -3.641 -1.2 Td (available for)Tj -0.025 Tw 1.437 -1.2 Td (offsetting)Tj 1.433 -1.2 Td (future)Tj -0.47 -1.2 Td (taxable)Tj 0.278 -1.2 Td (profits)Tj 4.679 1.2 Td (Impairment)Tj 0 Tw 1.664 -1.2 Td (of assets)Tj -0.025 Tw 6.808 2.4 Td (Deferred)Tj 0.632 -1.2 Td (subsidy)Tj 0.194 -1.2 Td (income)Tj 7.889 0 Td (Total)Tj /T1_2 1 Tf -23.088 -1.2 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.715 -2.4 Td (At 31 December 2016)Tj -0.025 Tw 21.786 0 Td (80,501)Tj 0 Tc 0 Tw 9.462 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.037 0 Td (212)Tj 5.762 0 Td (80,713)Tj 0 Tw -43.046 -1.2 Td (Charged to income statement)Tj -0.025 Tw 22.311 0 Td (7,247)Tj 0 Tc 0 Tw 8.937 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.179 0 Td (\(26\))Tj 6.145 0 Td (7,221)Tj ET 0.5 w q 1 0 0 1 266.4567 234.5349 cm 0 0 m 59.528 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 260.7874 234.3019 Tm ( )Tj ET q 1 0 0 1 337.3228 234.5349 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 331.6535 234.3019 Tm ( )Tj ET q 1 0 0 1 408.1889 234.5349 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 402.5197 234.3019 Tm ( )Tj ET q 1 0 0 1 479.0551 234.5349 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 473.3858 234.3019 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 211.9849 Tm (At 30 June 2017)Tj /T1_1 1 Tf -0.025 Tw 21.786 0 Td (87,748)Tj 0 Tc 0 Tw 9.462 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.037 0 Td (186)Tj 5.762 0 Td (87,934)Tj ET 1.11 w q 1 0 0 1 266.4567 207.3341 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 266.4567 205.2341 cm 0 0 m 59.528 0 l S Q BT /T1_0 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 260.7874 204.9061 Tm ( )Tj ET 1.11 w q 1 0 0 1 337.3228 207.3341 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 337.3228 205.2341 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 331.6535 204.9061 Tm ( )Tj ET 1.11 w q 1 0 0 1 408.1889 207.3341 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 408.1889 205.2341 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 402.5197 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(RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.4 Td (Trade receivables)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (20,017)Tj /T1_0 1 Tf 8.504 0 Td (36,392)Tj 0 Tw -43.046 -1.2 Td (Prepayments, purchase deposits and other deposits)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (209,035)Tj /T1_0 1 Tf 8.504 0 Td (220,396)Tj 0 Tw -42.521 -1.2 Td (Notes receivable)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (12,507)Tj /T1_0 1 Tf 0 Tc 0 Tw 10.879 0 Td (\226)Tj 0.025 Tc -45.421 -1.2 Td (Other receivables)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (169,748)Tj /T1_0 1 Tf 9.029 0 Td (51,272)Tj ET 0.5 w q 1 0 0 1 379.8425 309.544 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 309.311 Tm ( )Tj ET q 1 0 0 1 464.8818 309.544 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 309.311 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 286.994 Tm (411,307)Tj /T1_0 1 Tf 8.504 0 Td (308,060)Tj ET 1.11 w q 1 0 0 1 379.8425 282.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 280.2431 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 279.9151 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 282.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 280.2431 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 279.9151 Tm ( )Tj ET endstreamendobj72 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 8 \226)Tj /T1_1 1 Tf 0.021 Tc 10 0 0 10 56.6929 728.7079 Tm [(4)-4 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.468 0 Td [(RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATING)-4 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.2 TD (ACTIVITIES)Tj 0 Tw 32.14 -2.4 Td (Six months ended 30 June)Tj -0.025 Tw 3.202 -1.342 Td (2017)Tj /T1_0 1 Tf 8.504 0 Td (2016)Tj /T1_2 1 Tf -10.635 -1.2 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.4 Td (Loss before tax)Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(78,942\))Tj /T1_0 1 Tf 7.979 0 Td (\(139,733\))Tj 0 Tw -42.138 -1.2 Td (Depreciation of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (103,872)Tj /T1_0 1 Tf 9.029 0 Td (61,636)Tj 0 Tw -43.046 -1.2 Td (Amortisation of land us rights)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (1,621)Tj /T1_0 1 Tf 8.504 0 Td (1,123)Tj 0 Tw -43.571 -1.2 Td (Interest income)Tj /T1_1 1 Tf -0.025 Tw 35.484 0 Td (\(867\))Tj /T1_0 1 Tf 7.704 0 Td (\(4,884\))Tj 0 Tw -43.188 -1.2 Td (Interest expense)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (62,714)Tj /T1_0 1 Tf 8.504 0 Td (33,598)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 590.8317 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 590.5987 Tm ( )Tj ET q 1 0 0 1 464.8818 590.8317 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 590.5987 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 568.2816 Tm (Operation cash flow before working capital change)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (88,398)Tj /T1_0 1 Tf 8.121 0 Td (\(48,260\))Tj ET q 1 0 0 1 379.8425 563.8226 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 563.5897 Tm ( )Tj ET q 1 0 0 1 464.8818 563.8226 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 563.5897 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 541.2726 Tm (\(Increase\)/decrease in inventories)Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(52,757\))Tj /T1_0 1 Tf 8.504 0 Td (\(40,041\))Tj 0 Tw -42.663 -1.2 Td (\(Increase\)/decrease in trade and other receivables)Tj /T1_1 1 Tf -0.025 Tw 33.634 0 Td (\(103,247\))Tj /T1_0 1 Tf 9.029 0 Td (\(73,471\))Tj 0 Tw -42.663 -1.2 Td (Increase/\(decrease\) in trade an other payables)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (123,339)Tj /T1_0 1 Tf 8.504 0 Td (104,514)Tj 0 Tw -42.521 -1.2 Td (Increase/\(decrease\) in deferred subsidy income)Tj /T1_1 1 Tf -0.025 Tw 35.484 0 Td (\(104\))Tj /T1_0 1 Tf 8.504 0 Td (\(104\))Tj ET q 1 0 0 1 379.8424 500.8135 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 500.5805 Tm ( )Tj ET q 1 0 0 1 464.8818 500.8135 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 500.5805 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 478.2635 Tm (Cash generated from/\(used in\) operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (55,629)Tj /T1_0 1 Tf 8.121 0 Td (\(57,362\))Tj 0 Tw -42.663 -1.2 Td (Income tax)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (7,221)Tj /T1_0 1 Tf 7.979 0 Td (11,226)Tj ET q 1 0 0 1 379.8424 461.8045 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 461.5715 Tm ( )Tj ET q 1 0 0 1 464.8818 461.8045 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 461.5715 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 439.2545 Tm (Net cash generated from/\(used in\) operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (62,850)Tj /T1_0 1 Tf 8.121 0 Td (\(46,136\))Tj ET 1.11 w q 1 0 0 1 379.8424 434.6037 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8424 432.5037 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 432.1757 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 434.6037 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 432.5037 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 432.1757 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 1.193 Tw 10 0 0 10 56.6928 411.5587 Tm (5.)Tj /Span<>> BDC ( )Tj EMC (TAXATION)Tj /T1_0 1 Tf 0.004 Tw 2.268 -2.4 Td (No provision for profits tax in the Cayman Islands, the British Virgin I\slands or Hong Kong has been made, )Tj 0.081 Tw T* (as the Group had no assessable profit arising in or derived from those j\urisdictions during the six months )Tj 0 Tw T* (ended 30 June 2017.)Tj 0 -2.4 TD (The applicable income tax rate of all subsidiaries located in Mainland C\hina in 2017 is 25%.)Tj 0.028 Tw T* (The income tax benefit made for Dazhou Ko Yo for the six months ended 30\ June 2017 was approximately )Tj -0.025 Tw 0 -1.2 TD (RMB7,221,000.)Tj 0 Tw 0 -2.4 TD (The amount of taxation charged to the unaudited condensed consolidated p\rofit and loss account represents:)Tj /T1_1 1 Tf 32.14 -2.4 Td (Six months ended 30 June)Tj -0.025 Tw 3.202 -1.2 Td (2017)Tj /T1_0 1 Tf 8.504 0 Td (2016)Tj /T1_2 1 Tf -10.635 -1.2 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.4 Td (Current tax in the PRC)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -45.421 -1.2 Td (Deferred income tax )Tj /T1_3 1 Tf (\(Note 11\))Tj /T1_1 1 Tf -0.025 Tw 34.684 0 Td (\(7,221\))Tj /T1_0 1 Tf 7.979 0 Td (\(11,226\))Tj ET 0.5 w q 1 0 0 1 379.8423 191.0996 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 190.8666 Tm ( )Tj ET q 1 0 0 1 464.8817 191.0996 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 190.8666 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 426.2132 168.5496 Tm (\(7,221\))Tj /T1_0 1 Tf 7.979 0 Td (\(11,226\))Tj ET 1.11 w q 1 0 0 1 379.8423 163.8988 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8423 161.7988 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 161.4708 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8817 163.8988 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8817 161.7988 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 161.4708 Tm ( )Tj ET endstreamendobj71 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 7 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (NOTES OF FINANCIAL STATEMENTS)Tj 10 0 0 10 56.6929 701.0479 Tm (1.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (BASIS OF PREPARATION)Tj /T1_0 1 Tf 0.025 Tw 0 -2.4 TD (The Company is an investment holding company. The Group is principally e\ngaged in the manufacture and )Tj 0 Tw 0 -1.2 TD (sale of chemical products and chemical fertilizers in Mainland China.)Tj 0.063 Tc 0.07 Tw 0 -2.4 TD [(The)12.9 ( unaudite)0.5 (d)12.9 ( inte)0.5 (rim)12.9 ( financial)12.9 ( stat)0.5 (ements)12.9 ( have)12.9 ( been)12.9 ( )0.5 (pr)0.5 (epared)12.9 ( in)12.9 ( acc)0.5 (ordance)12.9 ( with)12.9 ( the)12.9 ( H)0.5 (on)0.5 (g)12.9 ( K)0.5 (ong)38 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.2 TD [(Accounting)12 ( )0.5 (Standard)12 ( )0.5 (\(\223HKAS\224\))12 ( )0.5 (3)12 (4)12 ( )0.5 (\223Interim)12 ( )0.5 (Financial)12 ( )0.5 (Reporting\224)12 ( )0.5 (issued)12 ( )0.5 (by)12 ( )0.5 (the)12 ( )0.5 (Hong)12.1 ( )0.5 (Kong)12 ( )0.5 (Institute)12.1 ( )0.5 (of)12 ( )]TJ 0.029 Tc 0.079 Tw T* [(Certified)4 ( )0.5 (Public)4 ( )0.5 (Accountants)4 ( )0.5 (\(\223HKICPA\224\))4 ( )0.5 (and)4 ( )0.5 (the)4 ( )0.5 (disclosure)4 ( )0.5 (requirements)4 ( )0.5 (set)4 ( )0.5 (out)4 ( )0.5 (in)4 ( )0.5 (Appendix)4 ( )0.5 (1)4 (6)4 ( )0.5 (of)4 ( )0.5 (the)4 ( )]TJ 0.025 Tc 0.063 Tw T* (Rules Governing the Listing of the Securities \(the \223Listing Rules\224\\) of The Stock Exchange of Hong Kong )Tj 0 Tw T* (Limited \(the \223Stock Exchange\224\).)Tj /T1_1 1 Tf -2.268 -2.4 Td (2.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (PRINCIPAL ACCOUNTING POLICIES)Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 0 -2.4 TD [(The)12.4 ( principal)12.4 ( accounting)12.3 ( policies)12.3 ( used)12.4 ( in)12.3 ( the)12.3 ( unaudited)12.3 ( interim)12.3 ( financial)12.4 ( statements)12.4 ( are)12.4 ( consistent)12.4 ( with)13 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.2 TD (those followed in the Group\222s financial statements for the year ended\ 31 December 2016. The measurement )Tj 0.041 Tc 0.07 Tw T* [(basis)12.7 ( used)12.7 ( in)12.7 ( the)12.7 ( preparation)12.7 ( of)12.7 ( the)12.7 ( unaudited)12.7 ( interim)12.6 ( financial)12.7 ( statements)12.7 ( is)12.7 ( historical)12.7 ( cost,)12.7 ( except)12.7 ( for)16 ( )]TJ 0.049 Tc 0 -1.2 TD [(certain)12.1 ( investment)12.1 ( properties)12.2 ( and)12.1 ( financial)12.1 ( investments,)12.1 ( which)12.1 ( are)12.2 ( measured)12.1 ( at)12.1 ( fair)12.1 ( values.)12.1 ( All)12.2 ( inter-)]TJ 0.025 Tc 0 Tw 0 -1.2 TD (company transactions and balances within the Group have been eliminated \on consolidation.)Tj 0.055 Tc 0.07 Tw 0 -2.4 TD [(The)12.5 ( Group)12.4 ( had)12.4 ( net)12.5 ( current)12.4 ( liabilities)12.4 ( of)12.4 ( RMB)12.5 (1)12.4 (,)12.4 (6)12.4 (1)12.4 (8)12.4 (,)12.5 (3)12.4 (6)12.4 (7)12.4 (,)12.4 (0)12.4 (0)12.4 (0)12.5 ( as)12.4 ( at)12.4 ( 3)12.4 (0)12.4 ( June)12.4 ( 2)12.4 (0)12.4 (1)12.4 (7)12.4 (.)12.4 ( The)12.4 ( directors)12.4 ( of)12.4 ( the)30.1 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.2 TD [(Compa)0.5 (ny)2 ( )0.5 (have)2 ( )0.5 (give)0.5 (n)2 ( d)0.5 (ue)2 ( )0.5 (conside)0.5 (ration)2 ( )0.5 (to)2 ( )0.5 (the)2 ( )0.5 (liq)0.5 (uidity)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (Gro)0.5 (up)2 ( )0.5 (and)2 ( )0.5 (have)2 ( )0.5 (adop)0.5 (ted)2 ( )0.5 (the)2 ( )0.5 (going)2 ( )0.5 (con)0.5 (cern)2 ( )]TJ 0.025 Tc 0.028 Tw T* (basis in preparing the consolidated financial statements for the six mon\ths ended 30 June 2017 on the basis )Tj 0.027 Tc 0.081 Tw T* [(that)2 ( )0.5 (the)2 ( )0.5 (positive)2 ( cash)2 ( )0.5 (flow)2 ( )0.5 (from)2 ( )0.5 (Guangan)2 ( )0.5 (plant)2 ( )0.5 (and)2 ( )0.5 (that)2 ( )0.5 (it)2 ( )0.5 (will)2 ( )0.5 (succeed)2 ( )0.5 (in)2 ( )0.5 (negotiating)2 ( )0.5 (with)2 ( )0.5 (its)2 ( )0.5 (bankers)2 ( )0.5 (to)2 ( )]TJ 0.025 Tc 0 Tw T* (roll over the outstanding bank loans.)Tj 0 -2.4 TD (The financial statements are unaudited but have been reviewed by the aud\it committee of the Company.)Tj /T1_1 1 Tf 1.193 Tw -2.268 -2.4 Td (3.)Tj /Span<>> BDC ( )Tj EMC (TURNOVER)Tj /T1_0 1 Tf 0 Tw 2.268 -2.4 Td (Turnover represents the net amounts received and receivables for chemica\l products and chemical fertilizers )Tj 0.03 Tc 0.078 Tw 0 -1.2 TD [(sold,)5 ( )0.5 (less)5 ( )0.5 (returns)5 ( )0.5 (and)5 ( )0.5 (allowances)5 ( )0.5 (and)5 ( )0.5 (value-a)0.5 (dded)5 ( )0.5 (taxes,)5 ( )0.5 (if)5 ( )0.5 (applicable,)5 ( )0.5 (during)5 ( )0.5 (the)5 ( )0.5 (six)5 ( )0.5 (months)5 ( )0.5 (period.)5 ( )0.5 (The)5 ( )]TJ 0.025 Tc 0 Tw T* (Group\222s revenues are primarily generated in the People\222s Republic \of China \(the \223PRC\224\).)Tj 0 -2.4 TD (Turnover consisted of the following products:)Tj /T1_1 1 Tf 21.262 -2.4 Td (Six months ended)Tj 0 Tc ( )Tj 0.025 Tc 1.05 -1.2 Td (30 June 2017)Tj /T1_0 1 Tf 13.318 1.2 Td (Six months ended)Tj 0 Tc ( )Tj 0.025 Tc 0.967 -1.2 Td (30 June 2016)Tj /T1_1 1 Tf -0.025 Tw -13.995 -1.2 Td (\(unaudited\))Tj /T1_0 1 Tf 14.369 0 Td (\(unaudited\))Tj /T1_2 1 Tf -16.516 -1.2 Td (RMB\222000)Tj 0 Tc 0 Tw 10.46 0 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Tw 30.77 0 Td (867)Tj /T1_0 1 Tf 6.287 0 Td (4,884)Tj ET q 1 0 0 1 379.8425 464.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 463.9977 Tm ( )Tj ET q 1 0 0 1 464.8819 464.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 463.9977 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 438.0206 Tm (Net cash outflow from investing activities)Tj /T1_1 1 Tf -0.025 Tw 30.338 0 Td (\(9,089\))Tj /T1_0 1 Tf 6.562 0 Td (\(11,098\))Tj ET 1.11 w q 1 0 0 1 379.8425 433.0298 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 430.9298 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 430.6018 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 433.0298 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 430.9298 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 430.6018 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 404.6248 Tm (Net cash outflow before financing activities)Tj /T1_1 1 Tf -0.025 Tw 30.338 0 Td (\(8,953\))Tj /T1_0 1 Tf 6.562 0 Td (\(90,832\))Tj ET 1.11 w q 1 0 0 1 379.8425 399.634 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 397.534 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 397.206 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 399.634 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 397.534 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 397.206 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 371.229 Tm (Financing activities)Tj 0.751 -1.167 Td (\(Increase\)/Decrease in pledged bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (1,800)Tj /T1_0 1 Tf 6.037 0 Td (353,263)Tj 0 Tw -36.006 -1.167 Td (Issue of ordinary shares)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (1,103)Tj /T1_0 1 Tf 6.562 0 Td (56,811)Tj 0 Tw -36.531 -1.167 Td (New loans payable)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (485,840)Tj /T1_0 1 Tf 7.087 0 Td (666,131)Tj 0 Tw -36.006 -1.167 Td (Repayment of bank loans)Tj /T1_1 1 Tf -0.025 Tw 28.537 0 Td (\(497,353\))Tj /T1_0 1 Tf 6.287 0 Td (\(1,033,580\))Tj ET 0.5 w q 1 0 0 1 379.8425 310.4299 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 310.1969 Tm ( )Tj ET q 1 0 0 1 464.8819 310.4299 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 310.1969 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 284.2199 Tm (Net cash inflow/\(outflow\) from financing activities)Tj /T1_1 1 Tf -0.025 Tw 30.338 0 Td (\(8,610\))Tj /T1_0 1 Tf 6.945 0 Td (42,625)Tj ET 1.11 w q 1 0 0 1 379.8425 279.2291 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 277.1291 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 276.8011 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 279.2291 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 277.1291 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 276.8011 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 250.8241 Tm (\(Decrease\)/Increase in cash and cash equivalents)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(17,563\))Tj /T1_0 1 Tf 7.087 0 Td (\(48,207\))Tj 0 Tw -36.899 -1.167 Td (Cash and cash equivalents at 1 January)Tj /T1_1 1 Tf -0.025 Tw 30.196 0 Td (24,477)Tj /T1_0 1 Tf 7.087 0 Td (59,782)Tj ET 0.5 w q 1 0 0 1 379.8425 232.0251 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 231.7921 Tm ( )Tj ET q 1 0 0 1 464.8819 232.0251 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 231.7921 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6929 205.815 Tm (Cash and cash equivalents at 30 June)Tj /T1_1 1 Tf -0.025 Tw 30.721 0 Td (6,914)Tj /T1_0 1 Tf 6.562 0 Td (11,575)Tj ET 1.11 w q 1 0 0 1 379.8425 200.8242 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 198.7242 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 198.3962 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8819 200.8242 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8819 198.7242 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 198.3962 Tm ( )Tj ET endstreamendobj82 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 4 \226)Tj /T1_1 1 Tf -0.025 Tw 8.625 58.416 Td (\(Unaudited\))Tj /T1_0 1 Tf 8.416 0 Td (\(Audited\))Tj /T1_1 1 Tf 0 Tw -5.293 -1.167 Td (As at)Tj /T1_0 1 Tf 7.198 0 Td (As at)Tj /T1_1 1 Tf -8.36 -1.167 Td (30 June)Tj /T1_0 1 Tf 4.659 0 Td ( 31 December)Tj /T1_1 1 Tf -0.025 Tw -3.278 -1.167 Td (2017)Tj /T1_0 1 Tf 7.087 0 Td (2016)Tj /T1_2 1 Tf -15.177 -1.167 Td (Notes)Tj /T1_3 1 Tf 5.959 0 Td (RMB\222000)Tj /T1_2 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_1 1 Tf -36.12 -1.167 Td (LIABILITIES)Tj 0 Tw 0 -1.167 TD (Current liabilities)Tj /T1_0 1 Tf 0.751 -1.167 Td (Trade and other payables)Tj /T1_2 1 Tf 0 Tc 23.093 0 Td (9)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.826 0 Td (946,022)Tj /T1_0 1 Tf 7.087 0 Td (814,310)Tj 0 Tw -36.006 -1.167 Td (Short-term borrowings, secured)Tj /T1_2 1 Tf -0.025 Tw 22.831 0 Td (10)Tj /T1_1 1 Tf 5.289 0 Td (1,307,503)Tj /T1_0 1 Tf 7.087 0 Td (1,316,013)Tj 0 Tw -35.206 -1.167 Td (Provision for tax)Tj /T1_1 1 Tf 0 Tc 31.82 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 5.237 0 Td (1,152)Tj 0 Tw -37.056 -1.167 Td (Current portion of long term borrowings)Tj /T1_2 1 Tf -0.025 Tw 22.831 0 Td (10)Tj /T1_1 1 Tf 6.089 0 Td (166,780)Tj /T1_0 1 Tf 7.087 0 Td (220,640)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8423 580.2488 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 580.0158 Tm ( )Tj ET q 1 0 0 1 464.8817 580.2488 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 580.0158 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.1431 554.0388 Tm (2,420,305)Tj /T1_0 1 Tf 7.087 0 Td (2,352,115)Tj ET q 1 0 0 1 379.8423 549.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 549.0067 Tm ( )Tj ET q 1 0 0 1 464.8816 549.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 549.0067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 523.0297 Tm (Non-current liabilities)Tj /T1_0 1 Tf 0.751 -1.167 Td (Long-term borrowings)Tj /T1_2 1 Tf -0.025 Tw 22.831 0 Td (10)Tj /T1_1 1 Tf 6.089 0 Td (620,241)Tj /T1_0 1 Tf 7.087 0 Td (568,282)Tj 0 Tw -36.006 -1.167 Td (Convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (114,194)Tj /T1_0 1 Tf 7.087 0 Td (115,296)Tj 0 Tw -36.006 -1.167 Td (Deferred subsidy income)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (1,824)Tj /T1_0 1 Tf 7.087 0 Td (1,930)Tj 0 Tw -37.056 -1.167 Td (Deferred income tax liabilities)Tj /T1_2 1 Tf -0.025 Tw 22.831 0 Td (11)Tj /T1_1 1 Tf 6.614 0 Td (69,615)Tj /T1_0 1 Tf 7.087 0 Td (69,615)Tj ET q 1 0 0 1 379.8422 462.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 461.9977 Tm ( )Tj ET q 1 0 0 1 464.8816 462.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 461.9977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 412.743 436.0206 Tm (805,874)Tj /T1_0 1 Tf 7.087 0 Td (755,123)Tj ET q 1 0 0 1 379.8422 431.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 430.9886 Tm ( )Tj ET q 1 0 0 1 464.8816 431.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 430.9886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 405.0116 Tm (Total liabilities)Tj -0.025 Tw 28.871 0 Td (3,226,179)Tj /T1_0 1 Tf 7.087 0 Td (3,107,238)Tj ET q 1 0 0 1 379.8422 400.2125 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 399.9795 Tm ( )Tj ET q 1 0 0 1 464.8816 400.2125 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 399.9795 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6926 374.0025 Tm (Total equity and liabilities)Tj -0.025 Tw 28.871 0 Td (4,542,452)Tj /T1_0 1 Tf 7.087 0 Td (4,494,129)Tj ET 1.11 w q 1 0 0 1 379.8421 369.0117 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8422 366.9117 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 366.5837 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8815 369.0117 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 366.9117 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 366.5837 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 340.6067 Tm (Net current liabilities)Tj -0.025 Tw 28.488 0 Td (\(1,618,367\))Tj /T1_0 1 Tf 7.087 0 Td (\(1,686,814\))Tj ET 1.11 w q 1 0 0 1 379.8421 335.6159 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8421 333.5159 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1728 333.1879 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8815 335.6159 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 333.5159 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 333.1879 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 307.2109 Tm (Total assets less current liabilities)Tj -0.025 Tw 28.871 0 Td (2,122,147)Tj /T1_0 1 Tf 7.087 0 Td (2,142,014)Tj ET 1.11 w q 1 0 0 1 379.8421 302.2201 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8421 300.1201 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1728 299.7921 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8814 302.2201 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 300.1201 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 299.7921 Tm ( )Tj ET endstreamendobj81 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 3 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (CONDENSED CONSOLIDATED BALANCE SHEET)Tj /T1_2 1 Tf 0 -1.167 TD (As at 30 June 2017 and 31 December 2016)Tj /T1_1 1 Tf -0.025 Tw 27.654 -2.333 Td (\(Unaudited\))Tj /T1_0 1 Tf 8.416 0 Td (\(Audited\))Tj /T1_1 1 Tf 0 Tw -5.293 -1.167 Td (As at)Tj /T1_0 1 Tf 7.198 0 Td (As at)Tj /T1_1 1 Tf -8.36 -1.167 Td (30 June)Tj /T1_0 1 Tf 4.659 0 Td ( 31 December)Tj /T1_1 1 Tf -0.025 Tw -3.278 -1.167 Td (2017)Tj /T1_0 1 Tf 7.087 0 Td (2016)Tj /T1_2 1 Tf -15.177 -1.167 Td (Notes)Tj /T1_3 1 Tf 5.959 0 Td (RMB\222000)Tj /T1_2 1 Tf 7.255 0 Td (RMB\222000)Tj /T1_1 1 Tf -36.12 -2.333 Td (ASSETS)Tj 0 Tw T* (Non-current assets)Tj /T1_0 1 Tf 0.751 -1.167 Td (Property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 28.12 0 Td (3,226,742)Tj /T1_0 1 Tf 7.087 0 Td (3,320,658)Tj 0 Tw -35.206 -1.167 Td (Deferred income tax assets)Tj /T1_2 1 Tf -0.025 Tw 22.831 0 Td (11)Tj /T1_1 1 Tf 6.614 0 Td (87,934)Tj /T1_0 1 Tf 7.087 0 Td (80,713)Tj 0 Tw -36.531 -1.167 Td (Investment properties)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (12,127)Tj /T1_0 1 Tf 7.087 0 Td (12,127)Tj 0 Tw -36.531 -1.167 Td (Mining right)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (289,298)Tj /T1_0 1 Tf 7.087 0 Td (289,298)Tj 0 Tw -36.006 -1.167 Td (Intangible assets)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (8,889)Tj /T1_0 1 Tf 7.087 0 Td (8,889)Tj 0 Tw -37.056 -1.167 Td (Land use rights)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (115,524)Tj /T1_0 1 Tf 7.087 0 Td (117,143)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8423 498.2488 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 498.0158 Tm ( )Tj ET q 1 0 0 1 464.8817 498.2488 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 498.0158 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.1431 472.0388 Tm (3,740,514)Tj /T1_0 1 Tf 7.087 0 Td (3,828,828)Tj ET q 1 0 0 1 379.8423 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 467.0067 Tm ( )Tj ET q 1 0 0 1 464.8816 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 467.0067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 441.0297 Tm (Current assets)Tj /T1_0 1 Tf -0.025 Tw 0.751 -1.167 Td (Inventories)Tj /T1_1 1 Tf 28.92 0 Td (145,217)Tj /T1_0 1 Tf 7.612 0 Td (92,464)Tj 0 Tw -36.531 -1.167 Td (Trade and other receivables)Tj /T1_2 1 Tf 0 Tc 23.093 0 Td (8)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.826 0 Td (411,307)Tj /T1_0 1 Tf 7.087 0 Td (308,060)Tj 0 Tw -36.006 -1.167 Td (Derivative financial assets)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (227,378)Tj /T1_0 1 Tf 7.087 0 Td (227,378)Tj 0 Tw -36.006 -1.167 Td (Pledged bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (11,122)Tj /T1_0 1 Tf 7.087 0 Td (12,922)Tj 0 Tw -36.531 -1.167 Td (Cash and bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (6,914)Tj /T1_0 1 Tf 6.562 0 Td (24,477)Tj ET q 1 0 0 1 379.8422 366.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 365.9977 Tm ( )Tj ET q 1 0 0 1 464.8816 366.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 365.9977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 412.743 340.0207 Tm (801,938)Tj /T1_0 1 Tf 7.087 0 Td (665,301)Tj ET q 1 0 0 1 379.8422 335.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 334.9886 Tm ( )Tj ET q 1 0 0 1 464.8816 335.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 334.9886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 309.0116 Tm (Total assets)Tj -0.025 Tw 28.871 0 Td (4,542,452)Tj /T1_0 1 Tf 7.087 0 Td (4,494,129)Tj ET 1.11 w q 1 0 0 1 379.8422 304.0208 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8422 301.9208 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 301.5928 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8816 304.0208 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8816 301.9208 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 301.5928 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 56.6926 275.6158 Tm (EQUITY)Tj /T1_0 1 Tf 0 Tw 0.751 -1.167 Td (Share capital)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (368,307)Tj /T1_0 1 Tf 7.087 0 Td (367,531)Tj 0 Tw -36.006 -1.167 Td (Reserves Others)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (946,016)Tj /T1_0 1 Tf 6.287 0 Td (1,017,384)Tj ET 0.5 w q 1 0 0 1 379.8421 242.8168 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 242.5838 Tm ( )Tj ET q 1 0 0 1 464.8815 242.8168 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 242.5838 Tm ( )Tj 0.025 Tc 12 0 0 12 65.7067 216.6068 Tm (Shareholders\222 funds)Tj /T1_1 1 Tf -0.025 Tw 28.12 0 Td (1,314,323)Tj /T1_0 1 Tf 7.087 0 Td (1,384,915)Tj ET q 1 0 0 1 379.8421 211.8077 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1728 211.5747 Tm ( )Tj ET q 1 0 0 1 464.8814 211.8077 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 211.5747 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 185.5977 Tm (Non-controlling interest)Tj -0.025 Tw 30.721 0 Td (1,950)Tj /T1_0 1 Tf 7.087 0 Td (1,976)Tj ET q 1 0 0 1 379.842 180.7987 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1728 180.5657 Tm ( )Tj ET q 1 0 0 1 464.8814 180.7987 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2121 180.5657 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 154.5886 Tm (Total equity)Tj -0.025 Tw 28.871 0 Td (1,316,273)Tj /T1_0 1 Tf 7.087 0 Td (1,386,891)Tj ET q 1 0 0 1 379.842 149.7896 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1727 149.5566 Tm ( )Tj ET q 1 0 0 1 464.8814 149.7896 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2121 149.5566 Tm ( )Tj ET endstreamendobj80 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 2 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (INTERIM RESULTS)Tj /T1_0 1 Tf 0.065 Tw 0 -2.333 TD (The board of directors \(the \223Directors\224 or the \223Board\224\) of\ Ko Yo Chemical \(Group\) Limited )Tj 0.028 Tw 0 -1.167 TD (\(the \223Company\224\) is pleased to present the unaudited condensed co\nsolidated operating results )Tj 0.026 Tc 0.082 Tw 0 -1.167 TD [(of)1 ( )0.5 (the)1 ( )0.5 (Company)1 ( )0.5 (and)1.1 ( )0.5 (its)1 ( )0.5 (subsidiaries)1.1 ( 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