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Appropriate actions have been taken \by the Company for )Tj 0.042 Tc 0.07 Tw 0 -1.167 TD [(complying)12.3 ( with)12.3 ( the)12.3 ( Code,)12.3 ( the)12.3 ( Group)12.3 ( has)12.3 ( complied)12.3 ( with)12.3 ( the)12.3 ( code)12.3 ( provisions)12.3 ( set)12.3 ( out)12.3 ( in)12.3 ( the)17 ( )]TJ 0.025 Tc -0.025 Tw T* (Code.)Tj /T1_1 1 Tf 0 Tw 0 -2.333 TD (PURCHASE, SALE OR REDEMPTION OF SHARES)Tj /T1_0 1 Tf 0.05 Tc 0.07 Tw T* [(Neither)12.2 ( the)12.2 ( Company)12.2 ( nor)12.2 ( any)12.2 ( of)12.2 ( its)12.2 ( subsidiaries)12.2 ( purchased,)12.2 ( sold)12.2 ( or)12.2 ( redeemed)12.2 ( any)12.1 ( of)12.2 ( the)25 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (Company\222s listed shares during the period under review.)Tj 27.141 -2.333 Td (By Order of the Board)Tj /T1_1 1 Tf -2.835 -1.167 Td (Ko Yo Chemical \(Group\) Limited)Tj 4.086 -1.167 Td (Tang Guoqiang)Tj /T1_2 1 Tf -0.025 Tw 1.383 -1.167 Td (Chairman)Tj /T1_0 1 Tf 0 Tw -29.774 -2.333 Td (Chengdu, PRC, 28 August 2018)Tj /T1_2 1 Tf 0.046 Tw 0 -2.333 TD [(As )0.5 (at )0.5 (the )0.5 (date )0.5 (of )0.5 (this )0.5 (announcement, )0.5 (the )0.5 (Board )0.5 (comprises )0.5 (four )0.5 (executive )0.5 (directors, )0.5 (being )0.5 (Mr. )]TJ 0.027 Tc 0.081 Tw 0 -1.167 TD [(Tang)2 ( )0.5 (Guoqiang,)2 ( )0.5 (Mr.)2 ( Li)2 ( Weiruo,)2 ( Mr.)2 ( Shi)2 ( )0.5 (Jianmin)2 ( )0.5 (and)2 ( )0.5 (Mr.)2 ( )0.5 (Zhang)2 ( )0.5 (Weihua,)2 ( )0.5 (one)2 ( )0.5 (non-executive)2 ( )]TJ 0.025 Tc 0.05 Tw 0 -1.167 TD (director being Mr. Zhang Fubo and three independent non-executive direct\ors being, Mr. Hu )Tj 0 Tw 0 -1.167 TD (Xiaoping, Mr. Shi Lei and Mr. Xu Congcai.)Tj ET endstreamendobj34 0 obj<>endobj35 0 obj<>endobj39 0 obj<>endobj49 0 obj<>endobj50 0 obj<>stream H塡斖n釦勶~?&嚾嚅拝D ?鞆栞0鯜,?胬埏?蔎嫈銫f壕je确緆'?'wj籪屪?盅愎聿e釟稙>咄侩K5dy:|竉賥?+K?Jxw洣?魄,16ql怀{=<狐p啅x壿n絭M<擢醷u?煆=頉艏濐O樘縊篼%e昃壸—鉞u鐦晪鬦或-街Y鞖灚蜇馮縒cVb扊$瞼9€熒相y迴粪y~%?鰷??蒏pA.罏炝t餻餿餻餔V皯L77O77?o s孤\A?W? s孤\A?W? s孤\檚_?`頙?岙頙矮繻????????????繟賋裖9S1S9S1S9S1S賋裖賋裖櫏萊f)矓輹}}晑}晑}晑}鯈滯QKcwCw３临鑜p6:湇g３临鑜p6:湇g３临?卯V?苏|q>o甈洪铍~址qLWs?橈$nc叟痮尅\:厽殳 endstreamendobj51 0 obj<>stream H墊T WW Th磱B?U'`FGEY'*笇 襇7行誐?  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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 (8)12.7 ( assuming)12.7 ( all)12.7 ( outstanding)41 ( )]TJ 0.025 Tc 0.011 Tw T* (convertible securities being converted was RMB0.030 which is calculated \by dividing the loss )Tj 0.074 Tc 0.07 Tw 0 -1.167 TD [(attribute)12.6 ( to)12.6 ( the)12.6 ( shareholders)12.6 ( of)12.6 ( the)12.6 ( Company)12.6 ( by)12.6 ( the)12.6 ( total)12.6 ( number)12.6 ( of)12.5 ( Shares)12.6 ( after)12.6 ( all)49 ( )]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 0.043 Tc 0.07 Tw T* [(is)12.7 ( not)12.6 ( the)12.7 ( same)12.6 ( as)12.6 ( those)12.6 ( used)12.7 ( in)12.6 ( this)12.7 ( interim)12.6 ( report.)12.6 ( According)12.6 ( to)12.6 ( Hong)12.6 ( Kong)12.6 ( Accounting)18 ( )]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 (interim report does not assume such conversion.)Tj 0.025 Tw 0 -2.333 TD (Base on the cash and cash equivalent as at 30 June 2018 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 0.081 Tw -18.766 58.583 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 2018 were disclosed in the following table:)Tj ET 0 0 0 1 K 0.5 w /GS1 gs q 1 0 0 1 317.2303 680.1732 cm 0 0 m 45.854 0 l S Q q 1 0 0 1 317.4803 637.9232 cm 0 0 m 0 42 l S Q q 1 0 0 1 362.8346 637.9232 cm 0 0 m 0 42 l S Q q 1 0 0 1 317.4803 623.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 623.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 609.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 609.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 595.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 595.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 581.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 581.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 567.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 567.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 553.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 553.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 539.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 539.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 525.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 525.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 511.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 511.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 497.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 497.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 483.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 483.9232 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 480.9142 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 362.8346 480.9142 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 317.4803 466.9142 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 466.9142 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 452.9142 cm 0 0 m 0 14 l S Q q 1 0 0 1 362.8346 452.9142 cm 0 0 m 0 14 l S Q q 1 0 0 1 317.4803 447.5183 cm 0 0 m 0 5.396 l S Q q 1 0 0 1 362.8346 447.5183 cm 0 0 m 0 5.396 l S Q q 1 0 0 1 317.4803 444.5093 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 362.8346 444.5093 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 317.2303 444.2593 cm 0 0 m 45.854 0 l S Q BT /GS0 gs /T1_1 1 Tf 8.4 0 0 12 293.3995 685.0479 Tm (Number of share options)Tj -17.295 -1.424 Td (Held at)Tj 0.883 -1.167 Td (1 Jan)Tj -0.025 Tw 0.331 -1.167 Td (2018)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 5.043 2.333 Td (Held at)Tj 0.302 -1.167 Td (30 Jun)Tj -0.025 Tw 0.912 -1.167 Td (2018)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 3.078 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 -45.097 -1.167 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.429 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.37 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj 5.399 0 Td (\(\222000\))Tj /T1_1 1 Tf -54.744 -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 5.429 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.37 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 5.429 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.37 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 3.579 0 Td (3,400)Tj 6.199 0 Td (800)Tj 0 Tc 0 Tw 6.42 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 5.429 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.37 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 5.429 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.37 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 3.579 0 Td (1,200)Tj 0 Tc 0 Tw 7.249 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.32 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 5.429 0 Td (\226)Tj 5.399 0 Td (\226)Tj 5.37 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 3.054 0 Td (13,600)Tj 5.924 0 Td (3,900)Tj 6.17 0 Td (800)Tj 4.599 0 Td (7,400)Tj 5.399 0 Td (1,500)Tj ET q 1 0 0 1 141.7323 481.1642 cm 0 0 m 34.016 0 l S Q BT 0 Tc 0 Tw 8.4 0 0 12 136.063 482.9542 Tm ( )Tj ET q 1 0 0 1 187.0867 481.1642 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 181.4174 482.9542 Tm ( )Tj ET q 1 0 0 1 232.441 481.1642 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 226.7717 482.9542 Tm ( )Tj ET q 1 0 0 1 277.7953 481.1642 cm 0 0 m 33.766 0 l S Q BT 8.4 0 0 12 272.126 482.9542 Tm ( )Tj ET q 1 0 0 1 323.3997 481.1642 cm 0 0 m 33.516 0 l S Q BT 8.4 0 0 12 317.7304 482.9542 Tm ( )Tj ET q 1 0 0 1 368.754 481.1642 cm 0 0 m 33.766 0 l S Q BT 8.4 0 0 12 363.0847 482.9542 Tm ( )Tj ET q 1 0 0 1 413.8583 481.1642 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 408.189 482.9542 Tm ( )Tj ET q 1 0 0 1 459.2126 481.1642 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 453.5434 482.9542 Tm ( )Tj ET q 1 0 0 1 504.567 481.1642 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 498.8977 482.9542 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 3.054 0 Td (18,200)Tj 5.924 0 Td (4,700)Tj 5.37 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 449.9633 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 141.7323 447.8633 cm 0 0 m 34.016 0 l S Q BT 0 Tc 0 Tw 8.4 0 0 12 136.063 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 187.0867 449.9633 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 187.0867 447.8633 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 181.4174 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 232.441 449.9633 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 232.441 447.8633 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 226.7717 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 277.7953 449.9633 cm 0 0 m 33.766 0 l S Q 0.45 w q 1 0 0 1 277.7953 447.8633 cm 0 0 m 33.766 0 l S Q BT 8.4 0 0 12 272.126 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 323.3997 449.9633 cm 0 0 m 33.516 0 l S Q 0.45 w q 1 0 0 1 323.3997 447.8633 cm 0 0 m 33.516 0 l S Q BT 8.4 0 0 12 317.7304 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 368.754 449.9633 cm 0 0 m 33.766 0 l S Q 0.45 w q 1 0 0 1 368.754 447.8633 cm 0 0 m 33.766 0 l S Q BT 8.4 0 0 12 363.0847 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 413.8583 449.9633 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 413.8583 447.8633 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 408.189 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 449.9633 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 459.2126 447.8633 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 453.5434 449.5583 Tm ( )Tj ET 1.11 w q 1 0 0 1 504.567 449.9633 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 504.567 447.8633 cm 0 0 m 34.016 0 l S Q BT 8.4 0 0 12 498.8977 449.5583 Tm ( )Tj 0.024 Tc 12 0 0 12 56.693 420.0892 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 2018, no share options were exercised\.)Tj ET endstreamendobj38 0 obj<>endobj36 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 (SEGMENTAL INFORMATION)Tj /T1_0 1 Tf 0.083 Tw 0 -2.333 TD [(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 0 -1.167 TD (2018.)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 T* (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 T* (As at 30 June 2018, the Group had a total workforce of 771 \(2017: 781\)\, of which 5 \(2017: 5\) )Tj 0.031 Tc 0.077 Tw 0 -1.167 TD [(were)6 ( )0.5 (responsible)6 ( )0.5 (for)6 ( )0.5 (management,)6 ( )0.5 (9)6 (2)6 ( )0.5 (\()6 (2)6 (0)6 (1)6.1 (7)6 (:)6 ( )0.5 (9)6 (6)6 (\))6 ( )0.5 (for)6.1 ( )0.5 (finance)6 ( )0.5 (and)6 ( )0.5 (administration,)6 ( )0.5 (6)6 (2)6 (7)6 ( )0.6 (\()6 (2)6 (0)6 (1)6 (7)6 (:)6 ( )]TJ 0.051 Tc 0.07 Tw T* [(6)12.9 (3)12.9 (4)12.9 (\))13 ( for)13 ( produc)0.5 (tion)13 ( and)12.9 ( )0.5 (4)12.9 (7)12.9 ( \()12.9 (2)12.9 (0)13 (1)12.9 (7)12.9 (:)12.9 ( 4)12.9 (6)13 (\))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 (6)12.9 (9)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (\(2017: 779\) were stationed in the PRC and 2 \(2017: 2\) 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 (8)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 RMB262,471,000 \(2017: RMB266,255,000\), 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 (B1,856,133,000 \(2017: R)-12.4 (M)-12.3 (B2,227,074,000\) a)-12.3 (n)-12.4 (d b)-12.4 (a)-12.3 (n)-12.4 (k)6 ( )]TJ 0.064 Tc 0 -1.167 TD [(d)-12.4 (e)-12.3 (p)-12.4 (o)-12.3 (s)-12.4 (i)-12.3 (t)-12.4 (s o)-12.3 (f a)-12.4 (p)-12.3 (p)-12.4 (r)-12.3 (o)-12.4 (x)-12.3 (i)-12.4 (m)-12.4 (a)-12.3 (t)-12.4 (e)-12.3 (l)-12.4 (y R)-12.3 (M)-12.4 (B16,828,000 \(2017: R)-12.4 (M)-12.3 (B11,122,000\) w)-12.4 (e)-12.3 (r)-12.4 (e p)-12.3 (l)-12.4 (e)-12.3 (d)-12.4 (g)-12.3 (e)-12.4 (d a)-12.3 (s)39 ( )]TJ 0.025 Tc 0 Tw T* (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 T* [(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 T* (exchange exposure and will consider hedging significant foreign currency\ exposure should the )Tj 0 Tw 0 -1.167 TD (need arises.)Tj /T1_1 1 Tf 0 -2.333 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 (\(t)0.5 (h)0.5 (e)13 ( )]TJ 0.046 Tc 0 -1.167 TD [(\223Existing)12.8 ( Share)12.8 ( Option)12.8 ( Scheme\224\))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 T* [(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 0 -1.167 TD [(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 T* [(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 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 -18.766 58.583 Td (LIQUIDITY, FINANCIAL RESOURCES AND CAPITAL STRUCTURE)Tj /T1_0 1 Tf 0.024 Tc 0 -2.333 TD [(As at 30 June 2018, the Group had net current liabilities of approximate\ly RMB1,850,583,000.)-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 (8)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 (9)12.2 (,)12.2 (0)12.1 (2)12.2 (5)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 (6)12.2 (,)12.1 (8)12.2 (2)12.1 (8)12.2 (,)12.2 (0)12.1 (0)12.2 (0)12.2 (,)12.1 ( inventories)12.2 ( of)27 ( )]TJ 0.122 Tc T* [(approximately)12.5 ( RMB)12.4 (7)12.5 (8)12.4 (,)12.5 (7)12.4 (3)12.5 (1)12.5 (,)12.4 (0)12.5 (0)12.4 (0)12.5 (,)12.4 ( trade)12.5 ( and)12.5 ( other)12.4 ( receivables)12.5 ( of)12.5 ( approximately)97 ( )]TJ 0.061 Tc 0 -1.167 TD [(RMB)12.5 (2)12.6 (4)12.5 (2)12.6 (,)12.5 (3)12.5 (8)12.6 (6)12.5 (,)12.5 (0)12.6 (0)12.5 (0)12.5 (.)12.6 ( Current)12.5 ( liabilities)12.5 ( as)12.6 ( at)12.5 ( 3)12.5 (0)12.5 ( June)12.5 ( 2)12.5 (0)12.6 (1)12.5 (8)12.5 ( comprised)12.6 ( short-term)12.5 ( loans)12.6 ( of)36 ( )]TJ 0.057 Tc 0 -1.167 TD [(approximately)12.4 ( RMB)12.4 (1)12.5 (,)12.4 (2)12.4 (5)12.5 (4)12.4 (,)12.5 (7)12.4 (3)12.5 (4)12.4 (,)12.4 (0)12.5 (0)12.4 (0)12.5 (,)12.4 ( current)12.4 ( portion)12.5 ( of)12.4 ( long)12.4 ( term)12.5 ( loans)12.5 ( of)12.4 ( approximately)32.1 ( )]TJ 0.025 Tc 0 Tw T* (RMB101,061,000, trade and other payables of approximately RMB841,758,000\.)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 (8)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 (RMB116,785,000.)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 2018, the Group had cash and bank balances of approximatel\y RMB9,025,000 )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 ( 7)12.7 (4)12.8 (%)12.8 ( and)12.7 ( 7)12.8 (0)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 (8)12.8 ( and)12.7 ( 3)12.8 (1)12.7 ( December)12.7 ( 2)12.8 (0)12.7 (1)12.8 (7)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 2018.)Tj /T1_1 1 Tf 0 -2.333 TD (MATERIAL ACQUISITIONS/DISPOSALS)Tj /T1_0 1 Tf T* (The Group had no material acquisitions/disposals during the six months e\nded 30 June 2018.)Tj /T1_1 1 Tf 0 -2.333 TD (PROPOSED ISSUE OF CONVERTIBLE BONDS)Tj /T1_0 1 Tf 0.071 Tc 0.07 Tw 0 -2.333 TD [(A)0.5 (s)13 ( d)0.5 (is)0.5 (c)0.5 (l)0.5 (os)0.5 (e)0.5 (d)13 ( i)0.5 (n)13 ( t)0.5 (h)0.5 (e)12.9 ( )0.5 (a)0.5 (n)0.5 (no)0.5 (un)0.5 (c)0.5 (e)0.5 (me)0.5 (n)0.5 (t)12.9 ( )0.5 (d)0.5 (a)0.5 (te)0.5 (d)13 ( 1)13 (9)13 ( J)0.5 (u)0.5 (ly)13 ( )0.5 (2)12.9 (0)13 (1)13 (8)12.9 (,)13 ( )0.5 (th)0.5 (e)13 ( C)0.5 (o)0.5 (m)0.5 (pa)0.5 (n)0.5 (y)12.9 ( )0.5 (e)0.5 (nt)0.5 (e)0.5 (r)0.5 (ed)13 ( )0.5 (in)0.5 (t)0.5 (o)12.9 ( )0.5 (t)0.5 (he)46.1 ( )]TJ 0.089 Tc 0 -1.167 TD [(subscription)12.2 ( agreement)12.2 ( \(\223Subscription)12.2 ( Agreement\224\))12.2 ( with)12.2 ( Mr.)12.2 ( Tang)12.2 ( Guoqiang)12.2 ( \(the)64 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.167 TD [(\223Subscriber\224\), )0.5 (pursuant )0.5 (to )0.5 (which )0.5 (the )0.5 (Subscriber )0.5 (has )0.5 (conditionally )0.5 (agreed )0.5 (to )0.5 (subscribe )0.5 (for )0.5 (the )]TJ 0.012 Tw 0 -1.167 TD (convertible bonds \(the \223Convertible Bonds\224\) in the principal amo\unt of HK$270,000,000 with )Tj 0.04 Tc 0.07 Tw T* [(an)12.6 ( initial)12.5 ( conversion)12.5 ( price)12.5 ( of)12.5 ( HK$)12.6 (0)12.5 (.)12.5 (1)12.6 (0)12.5 (8)12.5 (,)12.5 ( 4)12.5 (%)12.5 ( annual)12.6 ( interest)12.5 ( rate)12.6 ( and)12.5 ( 5)12.6 ( years)12.5 ( in)12.5 ( tenor.)12.5 ( The)15 ( )]TJ 0.063 Tc 0 -1.167 TD [(Subscription)12.3 ( Agreement)12.3 ( and)12.3 ( the)12.3 ( transactions,)12.3 ( including)12.3 ( the)12.4 ( issue)12.3 ( and)12.3 ( allotment)12.4 ( of)12.4 ( the)38 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.167 TD [(conversion)4 ( )0.5 (shares)4 ( )0.5 (upon)4 ( )0.5 (exercise)4.1 ( )0.5 (of)4 ( )0.5 (the)4.1 ( )0.5 (conversion)4 ( )0.6 (rights)4 ( )0.6 (attaching)4 ( )0.5 (to)4 ( )0.5 (the)4 ( )0.5 (Convertible)4 ( )0.5 (bonds)4 ( )]TJ 0.041 Tc 0.07 Tw T* [(under)12.5 ( specific)12.6 ( mandate,)12.6 ( are)12.6 ( subject)12.6 ( to)12.6 ( the)12.6 ( approval)12.6 ( of)12.5 ( the)12.6 ( independent)12.6 ( shareholders)12.6 ( at)12.6 ( the)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (extraordinary general meeting expected to be held in the second half of \2018.)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>>endobj59 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 0.069 Tw -18.766 58.583 Td (from the decrease of synthetic ammonia supply. Overall, supply remains t\he dominant factor )Tj 0.056 Tw 0 -1.167 TD (for the prevailing market trend. Given that supply will be slightly tigh\t for a long period, the )Tj 0 Tw T* (performance of synthetic ammonia is expected to be optimistic in the sec\ond half of the year.)Tj /T1_1 1 Tf -0.025 Tw 0 -2.333 TD (Strategies)Tj /T1_0 1 Tf 0.035 Tc 0.073 Tw T* [(Given)10.1 ( )0.5 (the)10 ( )0.5 (modest)10 ( )0.5 (recovery)10 ( )0.5 (of)10 ( )0.5 (the)10.1 ( )0.5 (chemical)9.9 ( )0.6 (fertilizer)10 ( )0.5 (and)10 ( )0.5 (chemical)10 ( )0.5 (industry)10 ( )0.5 (and)10 ( )0.6 (the)10 ( )0.5 (limited)10 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.167 TD [(supply)6 ( )0.5 (of)6 ( )0.5 (natural)6 ( )0.5 (gas,)6 ( )0.5 (the)6.1 ( )0.5 (Group)6 ( )0.5 (will)6 ( )0.5 (seize)6 ( )0.5 (the)6 ( )0.5 (opportunities)6.1 ( to)6 ( )0.5 (bring)6 ( )0.5 (the)6 ( )0.5 (Group\222s)6 ( )0.5 (operation)6 ( )]TJ 0.025 Tc 0 Tw T* (back to the right track through 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 0.041 Tc 0.07 Tw -1.89 -2.333 Td [(2)16 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(Utilizing)12.8 ( existing)12.8 ( resource)12.8 ( advantages)12.8 ( to)12.8 ( explore)12.9 ( potential)12.8 ( of)12.8 ( and)12.8 ( improve)12.8 ( production)16 ( )]TJ 0.025 Tc -0.025 Tw T* (structure.)Tj 0.014 Tw -1.89 -2.333 Td (3.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Our sales team seize quality core end client and explore market potentia\l to increase local )Tj 0 Tw T* (sales volume and the number of sales regions with higher pricing potenti\al.)Tj 0.068 Tc 0.07 Tw -1.89 -2.333 Td [(4)43 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(Adjusting)12.7 ( management)12.8 ( structure)12.8 ( and)12.8 ( reducing)12.8 ( non-productive)12.8 ( expenses)12.8 ( to)12.7 ( reduce)43 ( )]TJ 0.041 Tc T* [(a)0.5 (dm)0.5 (in)0.5 (is)0.5 (tr)0.5 (a)0.5 (ti)0.5 (ve)13 ( )0.5 (fe)0.5 (e;)13 ( )0.5 (be)0.5 (f)0.5 (or)0.5 (e)12.9 ( )0.5 (p)0.5 (ro)0.5 (fi)0.5 (t)12.9 ( )0.5 (is)13 ( )0.5 (se)0.5 (e)0.5 (n)12.9 ( )0.5 (in)13 ( t)0.5 (he)13 ( )0.5 (c)0.5 (om)0.5 (pa)0.5 (ny)0.5 (,)12.9 ( )0.5 (a)0.5 (ll)13 ( e)0.5 (x)0.5 (ec)0.5 (ut)0.5 (iv)0.5 (e)13 ( d)0.5 (ir)0.5 (e)0.5 (ct)0.5 (or)0.5 (s)12.9 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (th)0.5 (e)16 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.167 TD [(Board)8 ( )0.5 (to)8 ( )0.5 (renounce)8 ( )0.5 (remuneration)8 ( )0.5 (and)8 ( )0.5 (administrative)8 ( )0.5 (senior)8 ( )0.5 (management)8 ( )0.5 (staff)8 ( )0.5 (to)8 ( )0.5 (receive)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (limited salary until profit is seen, after which remuneration can be dis\cussed.)Tj 0.03 Tc 0.078 Tw -1.89 -2.333 Td [(5)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 /T1_1 1 Tf -0.025 Tw -1.89 -2.333 Td (Appreciation)Tj /T1_0 1 Tf 0.039 Tc 0.07 Tw 0 -2.333 TD [(The)12.7 ( past)12.7 ( six)12.7 ( months)12.7 ( saw)12.7 ( the)12.7 ( bouncing)12.7 ( back)12.6 ( of)12.7 ( chemical)12.7 ( fertilizer)12.7 ( and)12.7 ( chemical)12.6 ( industries.)14.1 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.167 TD [(Under)7 ( )0.5 (the)7 ( )0.5 (leadership)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.5 (Board)7 ( )0.5 (and)7 ( )0.5 (our)7 ( )0.5 (management,)7 ( )0.5 (and)7 ( )0.5 (the)7 ( )0.5 (dedication)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.5 (staff,)7 ( )0.6 (we)7 ( )]TJ 0.054 Tc 0.07 Tw 0 -1.167 TD [(adhered)12.6 ( to)12.5 ( a)12.6 ( market-oriented)12.5 ( approach)12.6 ( in)12.5 ( our)12.6 ( production)12.5 ( operation)12.5 ( to)12.5 ( ascertain)12.5 ( the)12.5 ( best)29 ( )]TJ 0.027 Tc 0.081 Tw T* [(operation)2 ( )0.5 (effectiveness)2 ( )0.5 (of)2 ( )0.5 (our)2 ( )0.5 (facilities)2 ( )0.5 (as)2 ( )0.5 (opportunities)2 ( )0.5 (arise)2 ( from)2 ( )0.5 (the)2.1 ( market)2 ( )0.5 (recovery.)2 ( )0.5 (For)2 ( )]TJ 0.025 Tc 0.056 Tw 0 -1.167 TD (the second half of the year, with decisions and strategies devised by th\e Board and under the )Tj 0.059 Tc 0.07 Tw 0 -1.167 TD [(leadership)12.4 ( of)12.4 ( the)12.4 ( management,)12.3 ( we)12.4 ( are)12.4 ( confident)12.4 ( that)12.4 ( in)12.4 ( the)12.4 ( second)12.4 ( half)12.3 ( of)12.4 ( the)12.4 ( year)12.4 ( the)34 ( )]TJ 0.042 Tc T* [(company)12.3 ( operation)12.3 ( can)12.2 ( reduce)12.3 ( loss,)12.2 ( improve)12.3 ( significantly)12.3 ( its)12.3 ( situation)12.3 ( and)12.2 ( lead)12.3 ( itself)12.3 ( to)12.2 ( a)17 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (healthy development.)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 0.025 Tc 0.055 Tw 0 -1.167 TD (you for your commitment and contribution. We will strive to bring more b\enefits and returns )Tj 0 Tw T* (to our shareholders and the society.)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 0.042 Tc 0.07 Tw -18.766 58.583 Td [(According)12.4 ( to)12.4 ( the)12.4 ( statistics)12.4 ( from)12.4 ( JLC,)12.5 ( the)12.4 ( production)12.4 ( capacity)12.4 ( of)12.5 ( methanol)12.5 ( in)12.4 ( the)12.4 ( PRC)12.5 ( has)17 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.167 TD (reached over 82 million tonnes, of which 1.8 million tonnes of capacity \were newly added in )Tj 0.059 Tw T* (the first half of 2018. The PRC\222s total methanol output from January \to June 2018 amounted )Tj 0.048 Tc 0.07 Tw 0 -1.167 TD [(t)0.5 (o)13 ( 2)13 (4)13 (.)12.9 (8)13 (1)13 ( )0.5 (mi)0.5 (l)0.5 (li)0.5 (o)0.5 (n)13 ( t)0.5 (o)0.5 (n)0.5 (ne)0.5 (s)0.5 (,)13 ( u)0.5 (p)13 ( )0.5 (1)13 (1)12.9 (%)13 ( )0.5 (ov)0.5 (e)0.5 (r)13 ( )0.5 (th)0.5 (e)13 ( )0.5 (s)0.5 (a)0.5 (me)13 ( )0.5 (p)0.5 (er)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 (T)0.5 (he)13 ( )0.5 (a)0.5 (m)0.5 (ou)0.5 (n)0.5 (t)12.9 ( )0.5 (o)0.5 (f)13 ( )0.5 (im)0.5 (p)0.5 (or)0.5 (t)0.5 (e)0.5 (d)23 ( )]TJ 0.025 Tc 0.037 Tw 0 -1.167 TD [(methanol )0.5 (from January )0.5 (to )0.5 (June was 3.7089 )0.5 (million )0.5 (tonnes, )0.5 (4.75% lower )0.5 (than )0.5 (that )0.5 (of )0.5 (the )0.5 (same )]TJ 0.04 Tw T* (period last year. In respect of downstream demand, the increase is still\ limited. Influenced by )Tj 0.063 Tw 0 -1.167 TD (such factors as consecutive inspection of domestic methanol production e\quipment in spring, )Tj 0.042 Tc 0.07 Tw 0 -1.167 TD [(increase)12.4 ( in)12.4 ( olefin)12.4 ( operating)12.4 ( rate,)12.3 ( sustained)12.4 ( low)12.4 ( inventory)12.3 ( level)12.4 ( of)12.4 ( imported)12.4 ( goods)12.4 ( and)12.4 ( the)17 ( )]TJ 0.025 Tc 0.033 Tw T* (development of domestic alcohol-based fuel, the overall domestic methano\l market fluctuated )Tj 0.008 Tw 0 -1.167 TD (violently at a high level in the first half of the year, showing a N-sha\ped trend as a whole with )Tj 0 Tw 0 -1.167 TD (the market price hovering around RMB800 per tonne. )Tj 0.056 Tw 0 -2.333 TD (The methanol market faces different challenges and opportunities in the \second half of 2018. )Tj 0.068 Tc 0.07 Tw 0 -1.167 TD [(C)0.5 (ha)0.5 (ll)0.5 (e)0.5 (ng)0.5 (e)0.5 (s)12.9 ( )0.5 (m)0.5 (ai)0.5 (nl)0.5 (y)13 ( c)0.5 (o)0.5 (me)13 ( )0.5 (fr)0.5 (om)13 ( )0.5 (do)0.5 (me)0.5 (s)0.5 (ti)0.5 (c)13 ( a)0.5 (n)0.5 (d)12.9 ( )0.5 (f)0.5 (or)0.5 (e)0.5 (ig)0.5 (n)12.9 ( )0.5 (s)0.5 (up)0.5 (pl)0.5 (y)12.9 ( )0.5 (p)0.5 (re)0.5 (s)0.5 (su)0.5 (r)0.5 (e)12.9 ( )0.5 (o)0.5 (n)12.9 ( )0.5 (me)0.5 (t)0.5 (ha)0.5 (n)0.5 (ol)13 ( a)0.5 (n)0.5 (d)43 ( )]TJ 0.046 Tc T* [(commissioning)12.2 ( of)12.2 ( newly)12.2 ( established)12.2 ( production)12.2 ( capacity)12.2 ( in)12.2 ( the)12.2 ( third)12.2 ( and)12.2 ( fourth)12.2 ( quarters.)21 ( )]TJ 0.075 Tc 0 -1.167 TD [(Other)12.4 ( factors)12.4 ( include)12.4 ( limited)12.4 ( additions)12.4 ( of)12.4 ( large)12.4 ( equipment)12.4 ( downstream.)12.4 ( Meanwhile,)50 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.167 TD [(opportunities)1 ( )0.5 (stem)1 ( )0.5 (from)1 ( )0.5 (several)1.1 ( major)1 ( )0.5 (favourable)1 ( )0.5 (factors,)1 ( )0.5 (which)1 ( )0.5 (include:)1 ( )0.5 (\()1 (1)1 (\))1 ( )0.5 (Yan\222an)1 ( )0.5 (Energy)1 ( )]TJ 0.038 Tc 0.07 Tw T* [(and)12.2 ( Chemical\222s)12.2 ( olefin)12.2 ( equipment)12.2 ( has)12.2 ( commenced)12.2 ( production)12.2 ( in)12.2 ( June;)12.2 ( \()12.2 (2)12.2 (\))12.2 ( traditionally,)12.2 ( the)13 ( )]TJ 0.024 Tc 0 Tw 0 -1.167 TD [(methanol industry enters its peak season in the third and fourth quarter\s, and the operation rate)-1 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.167 TD [(of)1 ( )0.5 (the)1 ( )0.5 (traditional)1 ( )0.5 (industry)1 ( )0.5 (is)1 ( )0.5 (expected)1 ( )0.5 (to)1 ( )0.5 (remain)1 ( )0.5 (stable;)1 ( )0.5 (\()1 (3)1 (\))1.1 ( )0.5 (the)1 ( )0.5 (environmental)1 ( )0.5 (policies)1 ( )0.5 (in)1 ( )0.5 (the)1 ( )]TJ 0.035 Tc 0.073 Tw T* [(f)0.5 (o)0.5 (ur)0.5 (t)0.5 (h)10 ( )0.5 (q)0.5 (u)0.5 (a)0.5 (r)0.5 (t)0.5 (e)0.5 (r)10 ( )0.5 (li)0.5 (m)0.5 (i)0.5 (t)10 ( )0.5 (t)0.5 (h)0.5 (e)10 ( )0.5 (p)0.5 (r)0.5 (od)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)9.9 ( )0.6 (of)10 ( )0.5 (c)0.5 (o)0.5 (k)0.5 (e)10 ( )0.5 (o)0.5 (v)0.5 (e)0.5 (n)10 ( )0.5 (g)0.5 (a)0.5 (s)10 ( )0.5 (m)0.5 (e)0.5 (t)0.5 (ha)0.5 (n)0.5 (o)0.5 (l)0.5 (;)10 ( )0.5 (\()10 (4)10 (\))10 ( )0.5 (t)0.5 (h)0.5 (e)10 ( )0.5 (d)0.5 (e)0.5 (ma)0.5 (n)0.5 (d)10 ( )0.5 (f)0.5 (o)0.5 (r)10 ( )0.5 (a)0.5 (l)0.5 (c)0.5 (o)0.5 (h)0.5 (ol)0.5 (-)]TJ 0.025 Tc 0.049 Tw 0 -1.167 TD (based fuels increases in the fourth quarter; and \(5\) the price of crud\e oil remains high, which )Tj 0.024 Tc 0 Tw 0 -1.167 TD [(supports the price of chemicals futures. It is expected that the overall\ performance of methanol)-1 ( )]TJ 0.025 Tc T* (will continue to be positive in the second half of the year.)Tj 0.041 Tw 0 -2.333 TD (According to the statistics of Sublime China Information, in the first h\alf of 2018, there were )Tj 0.031 Tw 0 -1.167 TD (around 300 sets of synthetic ammonia equipment in the PRC, with a total \production capacity )Tj 0.045 Tc 0.07 Tw 0 -1.167 TD [(of)12.4 ( 7)12.5 (2)12.4 ( million)12.4 ( tonnes)12.4 ( and)12.4 ( newly)12.4 ( acquired)12.4 ( production)12.5 ( capacity)12.4 ( of)12.4 ( 1)12.4 (.)12.4 (2)12.4 ( million)12.4 ( tonnes.)12.4 ( Total)20 ( )]TJ 0.04 Tc 0 -1.167 TD [(production)12.3 ( volume)12.2 ( of)12.2 ( synthetic)12.2 ( ammonia)12.3 ( from)12.2 ( January)12.3 ( to)12.3 ( June)12.3 ( 2)12.3 (0)12.2 (1)12.3 (8)12.3 ( was)12.3 ( about)12.3 ( 2)12.2 (3)12.3 ( million)15 ( )]TJ 0.025 Tc 0.069 Tw T* (tonnes, representing a year-on-year decrease of approximately 9.3%. Due \to the effect of the )Tj 0.066 Tw 0 -1.167 TD (examination and inspection of domestic natural gas suppliers, environmen\tal supervision and )Tj 0.08 Tw 0 -1.167 TD (the de-capacity policy of the PRC government, the production volume of s\ynthetic ammonia )Tj 0.058 Tw T* (demonstrated a slight decline in the first half of 2018. As for downstre\am segments, affected )Tj 0.001 Tw 0 -1.167 TD (by factors such as natural gas supply and environmental protection, the \overall performance of )Tj 0 Tw 0 -1.167 TD (ammonium phosphate and urea facilities improved as compared to that of t\he previous year. In )Tj 0.052 Tc 0.07 Tw T* [(the)12.2 ( first)12.1 ( half)12.2 ( of)12.2 ( the)12.1 ( year,)12.1 ( although)12.1 ( the)12.2 ( price)12.2 ( in)12.2 ( the)12.2 ( synthetic)12.1 ( ammonia)12.2 ( market)12.1 ( fluctuated)27 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.167 TD [(f)0.5 (re)0.5 (qu)0.5 (en)0.5 (tl)0.5 (y,)12 ( )0.5 (o)0.5 (ve)0.5 (ra)0.5 (ll)12 ( )0.5 (i)0.5 (t)12 ( )0.5 (ho)0.5 (ve)0.5 (re)0.5 (d)12 ( )0.5 (a)0.5 (t)12 ( )0.5 (a)12 ( )0.5 (hi)0.5 (gh)12 ( )0.5 (l)0.5 (ev)0.5 (e)0.5 (l)11.9 ( )0.6 (an)0.5 (d)12 ( )0.5 (th)0.5 (e)12 ( )0.5 (ma)0.5 (rk)0.5 (et)12.1 ( )0.5 (pr)0.5 (ic)0.5 (e)12 ( )0.5 (ex)0.5 (pe)0.5 (r)0.5 (ie)0.5 (nc)0.5 (ed)12 ( )0.5 (a)12.1 ( )0.5 (W-)0.5 (sh)0.5 (ap)0.5 (ed)12 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (trend from January to June.)Tj 0.074 Tw 0 -2.333 TD (In the second half of 2018, the synthetic ammonia market will encounter \a series of positive )Tj 0.028 Tw 0 -1.167 TD (factors and also some short-term negative factors. For the main positive\ factors, to implement )Tj 0.076 Tw T* (regular atmospheric control, the Ministry of Environmental Protection co\ntinues to carry out )Tj 0.024 Tc 0 Tw 0 -1.167 TD [(the \223protect the blue sky\224 mission and focuses on the enhancement \and monitoring of \223looking)-1 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.167 TD (back\224, while production will be limited to prevent winter smog. Furth\er, the operating rate in )Tj 0.039 Tc 0.07 Tw T* [(the)12.6 ( south-west)12.5 ( region)12.5 ( will)12.5 ( be)12.6 ( hindered)12.6 ( by)12.5 ( the)12.6 ( tight)12.6 ( supply)12.6 ( of)12.6 ( natural)12.5 ( gas.)12.5 ( Coal)12.5 ( and)12.6 ( carbon)14 ( )]TJ 0.045 Tc 0 -1.167 TD [(prices)12.7 ( will)12.7 ( maintain)12.7 ( at)12.7 ( a)12.7 ( high)12.7 ( level,)12.7 ( thus)12.7 ( supporting)12.7 ( the)12.7 ( cost.)12.7 ( As)12.7 ( for)12.7 ( the)12.7 ( negative)12.7 ( factors,)20 ( )]TJ 0.039 Tc 0 -1.167 TD [(seasonality)12.4 ( may)12.5 ( create)12.4 ( short-term)12.4 ( fluctuation)12.4 ( for)12.5 ( the)12.5 ( performance)12.5 ( of)12.5 ( downstream)12.5 ( urea)12.5 ( and)14 ( )]TJ 0.042 Tc T* [(ammonium)12.2 ( phosphate)12.2 ( markets,)12.2 ( which)12.1 ( may)12.1 ( neutralize)12.1 ( part)12.2 ( of)12.2 ( the)12.2 ( positive)12.2 ( factors)12.2 ( resulting)17.1 ( )]TJ ET 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 /T1_1 1 Tf -18.766 58.583 Td (1.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Guangan Plant)Tj /T1_0 1 Tf 0.03 Tc 0.078 Tw 0 -2.333 TD [(Re)0.5 (s)0.5 (tra)0.5 (in)0.5 (ed)5 ( )0.5 (by)5 ( )0.6 (the)5 ( )0.5 (s)0.5 (up)0.5 (ply)5 ( )0.5 (o)0.5 (f)5 ( )0.5 (na)0.5 (tu)0.5 (ral)5.1 ( )0.5 (ga)0.5 (se)0.5 (s,)5 ( )0.5 (th)0.5 (e)5 ( )0.5 (fa)0.5 (ci)0.5 (li)0.5 (tie)0.5 (s)5 ( )0.5 (at)5 ( )0.5 (G)0.5 (ua)0.5 (ng)0.5 (an)5 ( )0.5 (P)0.5 (la)0.5 (nt)5 ( )0.5 (ha)0.5 (ve)5 ( )0.5 (r)0.5 (es)0.5 (um)0.5 (ed)5 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.167 TD [(production)12.7 ( since)12.7 ( 3)12.7 (0)12.7 ( January)12.7 ( 2)12.8 (0)12.7 (1)12.7 (8)12.7 (.)12.7 ( The)12.7 ( Company)12.7 ( squeezed)12.7 ( the)12.8 ( most)12.7 ( out)12.7 ( of)12.7 ( the)12.7 ( limited)14 ( )]TJ 0.04 Tc 0 -1.167 TD [(supply)12.9 ( with)12.8 ( reasonable)12.8 ( adjustment)12.9 ( of)12.8 ( modes)12.8 ( of)12.9 ( production)12.9 ( and)12.9 ( coordination.)12.9 ( Both)12.9 ( the)15 ( )]TJ 0.072 Tc T* [(production)12.9 ( volume)12.9 ( and)12.9 ( energy)12.9 ( consumption)12.9 ( of)12.9 ( methanol-ammonia)12.9 ( co-production)47 ( )]TJ 0.024 Tc 0 Tw 0 -1.167 TD [(improved over the corresponding period last year. Through the concerted \effort of all staff)-1 ( )]TJ 0.025 Tc 0.002 Tw 0 -1.167 TD (members, our methanol facilities achieved 100-day uninterrupted operatio\n for the second )Tj 0 Tw T* (time, and we are now working towards the target of 200-day operation.)Tj /T1_1 1 Tf -1.89 -2.333 Td (2.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Dazhou Plant)Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 0 -2.333 TD [(Restrained)12.3 ( by)12.2 ( the)12.3 ( supply)12.3 ( of)12.3 ( natural)12.3 ( gases,)12.3 ( the)12.3 ( facilities)12.3 ( at)12.2 ( Dazhou)12.3 ( Plant)12.3 ( have)12.3 ( resumed)13 ( )]TJ 0.052 Tc 0 -1.167 TD [(p)0.5 (r)0.6 (o)0.5 (d)0.5 (u)0.5 (c)0.6 (t)0.5 (i)0.5 (o)0.6 (n)13 ( )0.5 (s)0.6 (i)0.5 (n)0.5 (c)0.6 (e)13 ( )0.5 (1)13.1 (9)13 ( )0.5 (F)0.5 (e)0.6 (b)0.5 (r)0.6 (u)0.5 (a)0.5 (r)0.6 (y)13 ( )0.5 (2)13 (0)13.1 (1)13 (8)13 (.)13 ( )0.6 (U)0.5 (n)0.6 (d)0.5 (e)0.5 (r)13 ( )0.6 (t)0.5 (h)0.6 (e)13 ( )0.5 (C)0.6 (o)0.5 (m)0.5 (p)0.5 (a)0.6 (n)0.5 (y)0.5 (\222)0.6 (s)13 ( )0.5 (d)0.6 (e)0.5 (l)0.5 (i)0.5 (c)0.6 (a)0.5 (t)0.6 (e)13 ( )0.5 (c)0.6 (o)0.5 (o)0.5 (r)0.6 (d)0.5 (i)0.5 (n)0.5 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)13 ( )0.5 (a)0.6 (n)0.5 (d)27 ( )]TJ 0.041 Tc T* [(operation,)12.4 ( the)12.4 ( facilities)12.3 ( have)12.4 ( been)12.3 ( running)12.3 ( smoothly)12.3 ( and)12.3 ( steadily)12.3 ( with)12.3 ( a)12.3 ( better)12.3 ( energy)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (consumption level than that for the corresponding period last year.)Tj /T1_1 1 Tf -1.89 -2.333 Td (3.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Guangan\222s polyphenylene sulfide \(PPS\) plant)Tj /T1_0 1 Tf 0.063 Tw 0 -2.333 TD [(Affected )0.5 (by )0.5 (the )0.5 (market )0.5 (and others )0.5 (factors, )0.5 (Guangan\222s )0.5 (PPS )0.5 (plant )0.5 (recorded )0.5 (a )0.5 (loss from )0.5 (its )]TJ -0.025 Tw 0 -1.167 TD (operation. )Tj /T1_2 1 Tf 0 Tw -1.89 -2.333 Td (Industry Overview and Outlook)Tj /T1_0 1 Tf 0.041 Tc 0.07 Tw 0 -2.333 TD [(According)12.1 ( to)12.1 ( the)12.2 ( statistics)12.1 ( from)12.1 ( An)12.1 ( Yun)12.1 ( Si,)12.2 ( from)12.1 ( January)12.1 ( to)12.1 ( June)12.2 ( 2)12.2 (0)12.1 (1)12.1 (8)12.1 (,)12.2 ( influenced)12.1 ( by)12.1 ( the)16.1 ( )]TJ 0.048 Tc 0 -1.167 TD [(natural)12.5 ( gas)12.5 ( restriction)12.4 ( and)12.4 ( environmental)12.4 ( protection,)12.4 ( some)12.4 ( urea)12.5 ( enterprises)12.4 ( reduced)12.5 ( their)23 ( )]TJ 0.033 Tc 0.075 Tw T* [(production)8 ( )0.5 (level)8 ( )0.5 (significantly.)8 ( )0.5 (The)8 ( )0.5 (total)8 ( )0.5 (production)7.9 ( )0.6 (volume)8 ( )0.5 (of)8 ( )0.6 (urea)8 ( )0.5 (from)8 ( )0.5 (January)8 ( )0.5 (to)8 ( )0.5 (June)8 ( )0.5 (is)8 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.167 TD [(expected)2 ( )0.5 (to)2 ( )0.5 (be)2 ( 2)2 (4)2 (.)2 (7)2 (8)2 ( )0.5 (million)1.9 ( )0.5 (tonnes,)2 ( )0.5 (representing)2 ( )0.5 (a)2 ( decrease)2 ( )0.5 (of)2 ( )0.5 (3)2 ( million)2 ( )0.5 (tonnes)2 ( from)2 ( )0.5 (2)2 (7)2 (.)2 (7)2 (8)2 ( )]TJ 0.05 Tc 0.07 Tw 0 -1.167 TD [(million)12.8 ( tonnes)12.8 ( for)12.8 ( the)12.8 ( same)12.9 ( period)12.9 ( in)12.8 ( 2)12.8 (0)12.8 (1)12.9 (7)12.8 (.)12.9 ( The)12.9 ( average)12.9 ( operating)12.9 ( rate)12.8 ( of)12.8 ( domestic)12.9 ( urea)25 ( )]TJ 0.053 Tc T* [(enterprises)12.8 ( was)12.8 ( 5)12.8 (7)12.8 (.)12.8 (7)12.7 (%)12.8 ( from)12.8 ( January)12.8 ( to)12.8 ( June.)12.8 ( From)12.8 ( January)12.8 ( to)12.8 ( June)12.8 ( 2)12.8 (0)12.8 (1)12.8 (8)12.7 (,)12.8 ( the)12.8 ( amount)12.8 ( of)28 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.167 TD [(imported)8 ( )0.5 (urea)8 ( )0.5 (was)8 ( )0.5 (8)8 (3)8 (,)8 (1)8 (0)8 (0)8 ( )0.5 (tonnes,)8 ( )0.5 (representing)8 ( )0.5 (a)8 ( )0.5 (year-on-year)8 ( )0.5 (decrease)8 ( )0.5 (of)8 ( )0.5 (2)8 (5)8 (.)8 (8)8 (%,)8 ( )0.5 (while)8.1 ( )0.5 (the)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (amount of exported urea was 720,000 tonnes, representing a year-on-year \decrease of 74%.)Tj 0.031 Tc 0.077 Tw 0 -2.333 TD [(I)0.5 (n)6 ( )0.5 (t)0.5 (h)0.5 (e)6 ( )0.5 (f)0.6 (ir)0.6 (s)0.5 (t)6 ( )0.5 (h)0.5 (a)0.5 (l)0.5 (f)6 ( )0.5 (o)0.5 (f)6 ( )0.5 (2)6 (0)6 (1)6 (8)6.1 (,)6 ( d)0.6 (u)0.5 (e)6 ( )0.5 (t)0.5 (o)6 ( )0.5 (t)0.5 (h)0.5 (e)6 ( )0.5 (i)0.5 (m)0.5 (p)0.5 (a)0.5 (c)0.5 (t)0.6 (s)6 ( )0.5 (o)0.5 (f)6 ( )0.5 (n)0.5 (a)0.5 (t)0.5 (u)0.5 (r)0.5 (a)0.5 (l)6 ( )0.5 (g)0.5 (a)0.6 (s)6 ( )0.5 (s)0.5 (u)0.5 (p)0.5 (p)0.5 (l)0.5 (y)0.5 (,)6 ( )0.5 (e)0.5 (n)0.5 (v)0.5 (i)0.5 (r)0.5 (o)0.5 (n)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (a)0.5 (l)6.1 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (t)0.5 (e)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)6 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.167 TD [(policy,)12.9 ( fertilizer)12.9 ( demand)12.9 ( and)12.9 ( domestic)12.9 ( inventory)12.9 ( change)0.5 (s,)13 ( the)13 ( m)0.5 (arket)12.9 ( condition)13 ( o)0.5 (f)12.9 ( u)0.5 (rea)31 ( )]TJ 0.025 Tc T* (demonstrated a V-shaped trend with market prices fluctuating in the rang\e of RMB1,800 per )Tj 0.03 Tc 0.078 Tw 0 -1.167 TD [(tonne)5 ( )0.5 (to)5 ( )0.5 (RMB)5 (2)5 (,)5 (0)5 (0)5 (0)5 ( )0.5 (per)5.1 ( )0.5 (tonne.)5 ( )0.5 (After)5 ( )0.5 (the)5.1 ( )0.5 (end)5 ( )0.5 (of)5 ( )0.5 (June,)5 ( )0.5 (as)5 ( )0.5 (the)5.1 ( )0.5 (springtime)5 ( )0.5 (agricultural)5 ( )0.5 (demand)5.1 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.167 TD [(fades,)12.9 ( the)12.9 ( procurement)12.8 ( of)12.8 ( agricultural)12.8 ( and)12.9 ( industrial)12.9 ( compound)12.8 ( fertilizer)12.8 ( will)12.9 ( be)12.9 ( affected.)18 ( )]TJ 0.025 Tc 0.046 Tw T* (Further, the beginning of July also marks the start of an off season for\ rubber sheet factories. )Tj 0.056 Tw 0 -1.167 TD (Thus, the price in the second half of the year will decrease compared to\ that of the first half. )Tj 0.05 Tc 0.07 Tw 0 -1.167 TD [(However,)12.8 ( due)12.8 ( to)12.8 ( the)12.8 ( effects)12.8 ( of)12.8 ( various)12.8 ( factors)12.8 ( on)12.7 ( the)12.8 ( urea)12.8 ( market)12.8 ( in)12.8 ( 2)12.8 (0)12.8 (1)12.7 (8)12.8 (,)12.8 ( including)12.8 ( the)25 ( )]TJ 0.045 Tc T* [(upward)12.9 ( trend)12.9 ( of)12.8 ( crude)12.9 ( oil)12.9 ( demand,)12.9 ( limited)12.9 ( capacity)12.9 ( of)12.9 ( coal)12.9 ( trains,)12.9 ( increase)12.9 ( in)12.9 ( natural)12.9 ( gas)20.1 ( )]TJ 0.054 Tc 0 -1.167 TD [(c)0.5 (on)0.5 (su)0.5 (mp)0.5 (ti)0.5 (on)0.5 (,)12.9 ( )0.5 (wi)0.5 (de)0.5 (ni)0.5 (ng)13 ( g)0.5 (a)0.5 (p)12.9 ( b)0.5 (e)0.5 (tw)0.5 (ee)0.5 (n)13 ( s)0.5 (up)0.5 (pl)0.5 (y)12.9 ( )0.5 (an)0.5 (d)12.9 ( )0.5 (de)0.5 (ma)0.5 (n)0.5 (d)12.9 ( )0.5 (fo)0.5 (r)12.9 ( )0.5 (na)0.5 (tu)0.5 (r)0.5 (al)13 ( g)0.5 (as)0.5 (,)12.9 ( )0.5 (c)0.5 (ont)0.5 (i)0.5 (nuo)0.5 (us)13 ( )0.5 (de)0.5 (-)]TJ 0.066 Tc 0 -1.167 TD [(c)0.5 (a)0.5 (p)0.5 (a)0.5 (c)0.5 (i)0.5 (t)0.5 (y)13 ( )0.5 (s)0.5 (c)0.5 (h)0.5 (e)0.5 (m)0.5 (e)13 ( f)0.6 (or)13.1 ( u)0.5 (r)0.5 (e)0.5 (a)0.5 (,)13 ( )0.5 (g)0.5 (r)0.5 (o)0.5 (w)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (d)0.5 (e)0.5 (ma)0.6 (nd)13 ( )0.5 (f)0.5 (r)0.5 (o)0.5 (m)13 ( )0.5 (d)0.5 (o)0.5 (w)0.5 (n)0.5 (s)0.5 (t)0.5 (re)0.6 (a)0.5 (m)13 ( i)0.5 (n)0.5 (d)0.5 (u)0.5 (s)0.5 (t)0.5 (r)0.5 (i)0.5 (e)0.5 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (e)0.5 (n)0.5 (ha)0.5 (n)0.5 (c)0.5 (e)0.5 (d)41 ( )]TJ 0.025 Tc 0.041 Tw T* (environmental protection efforts, the overall market condition of urea i\s expected to be better )Tj 0 Tw 0 -1.167 TD (in 2018 than in 2017.)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 (8)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 0.058 Tc 0 -1.167 TD [(RMB)12.8 (1)12.8 (,)12.8 (9)12.8 (9)12.8 (3)12.8 ( million,)12.8 ( representing)12.8 ( an)12.9 ( increase)12.9 ( of)12.8 ( approximately)12.8 ( 1)12.9 (1)12.8 (.)12.8 (7)12.8 (%)12.8 ( as)12.8 ( compared)12.8 ( with)33 ( )]TJ 0.025 Tc 0 -1.167 TD (approximately RMB1,785 million for the corresponding period last year. L\oss attributable to )Tj 0.098 Tc 0 -1.167 TD [(shareholders)12.2 ( was)12.2 ( approximately)12.2 ( RMB)12.2 (1)12.1 (6)12.2 (1)12.2 (.)12.2 (0)12.1 ( million)12.2 ( \()12.2 (2)12.2 (0)12.1 (1)12.2 (7)12.2 (:)12.1 ( first)12.2 ( half)12.2 ( year)12.2 ( loss)12.2 ( of)73.1 ( )]TJ 0.025 Tc 0.01 Tw T* (approximately RMB71.7 million\), representing an increase of loss of app\roximately RMB89.3 )Tj 0.061 Tc 0.07 Tw 0 -1.167 TD [(million)12.3 ( as)12.4 ( compared)12.3 ( with)12.3 ( the)12.4 ( corresponding)12.3 ( period)12.4 ( last)12.4 ( year.)12.3 ( Basic)12.3 ( loss)12.3 ( per)12.3 ( share)12.3 ( was)36 ( )]TJ 0.052 Tc 0 -1.167 TD [(approximately)12.2 ( RMB)12.2 (3)12.1 (.)12.2 (7)12.2 (5)12.2 ( fen)12.2 ( \()12.2 (2)12.2 (0)12.2 (1)12.1 (7)12.2 (:)12.2 ( first)12.2 ( half)12.2 ( year)12.2 ( basic)12.2 ( loss)12.2 ( per)12.2 ( share)12.2 ( of)12.2 ( approximately)27 ( )]TJ 0.025 Tc 0 Tw T* (RMB1.67 fen\).)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 0.025 Tw 0 -1.167 TD (Group reached approximately 354,782 tonnes \(2017: 597,215 tonnes\), rep\resenting a decrease )Tj 0 Tw 0 -1.167 TD (of 40.6% 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 0.025 Tc 0.044 Tw 0 -1.167 TD (approximately 2.7% to 5.8% as compared with the corresponding period las\t year, which was )Tj 0.087 Tc 0.07 Tw 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 0.068 Tc T* [(approximately)12.8 ( RMB)12.9 (1)12.8 (,)12.9 (8)12.8 (7)12.9 (6)12.8 ( million,)12.9 ( representing)12.9 ( an)12.8 ( increase)12.9 ( of)12.8 ( approximately)12.8 ( 8)12.9 (.)12.8 (0)12.8 (%)12.9 ( as)43 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.167 TD [(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 0.056 Tw 0 -1.167 TD (costs decreased by approximately 27.7% due to the effective cost control\. The administrative )Tj 0.047 Tw T* (expenses increased by approximately 261.9% as compared with the correspo\nding period last )Tj 0.093 Tc 0.07 Tw 0 -1.167 TD [(year,)12.3 ( due)12.3 ( to)12.2 ( the)12.2 ( operation)12.2 ( cost)12.3 ( of)12.3 ( Dazhou)12.3 ( Plant)12.2 ( and)12.2 ( Guangan)12.3 ( Plant)12.2 ( charge)12.2 ( to)12.2 ( the)68 ( )]TJ 0.025 Tc 0.024 Tw 0 -1.167 TD (administrative expenses during the suspension of gas in January 2018. Th\e other loss increase )Tj 0.044 Tw T* (due to the loss of RMB41.7 million from the expiry of put option agreeme\nt entered between )Tj 0.042 Tc 0.07 Tw 0 -1.167 TD [(t)0.5 (h)0.5 (e)13 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (A)0.5 (s)0.5 (i)0.5 (a)13.1 ( )0.5 (P)0.5 (a)0.5 (c)0.5 (i)0.5 (f)0.5 (i)0.5 (c)13 ( )0.5 (R)0.5 (e)0.5 (s)0.5 (o)0.5 (u)0.5 (r)0.5 (c)0.5 (e)0.5 (s)13 ( )0.5 (D)0.6 (e)0.5 (v)0.5 (e)0.5 (l)0.5 (o)0.5 (p)0.5 (me)0.6 (n)0.5 (t)13 ( )0.5 (I)0.5 (n)0.5 (v)0.5 (e)0.5 (s)0.5 (t)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (L)0.5 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (o)0.5 (n)13 ( )0.5 (1)13 (8)13 ( )0.5 (J)0.5 (a)0.5 (n)0.5 (u)0.5 (a)0.5 (r)0.5 (y)17 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.167 TD (2015.)Tj /T1_1 1 Tf 0 Tw 0 -2.333 TD (Business Review)Tj /T1_0 1 Tf 0.041 Tc 0.07 Tw 0 -2.333 TD [(During)12.3 ( the)12.3 ( period)12.3 ( under)12.3 ( review,)12.3 ( restrained)12.3 ( by)12.3 ( the)12.4 ( supply)12.3 ( of)12.3 ( natural)12.3 ( gases,)12.3 ( the)12.3 ( facilities)12.3 ( at)16 ( )]TJ 0.052 Tc 0 -1.167 TD [(Dazhou)12.2 ( Plant)12.2 ( and)12.3 ( Guangan)12.3 ( Plant)12.3 ( failed)12.3 ( to)12.2 ( achieve)12.3 ( the)12.3 ( expected)12.3 ( modes)12.3 ( of)12.3 ( operation)12.3 ( and)27 ( )]TJ 0.053 Tc 0 -1.167 TD [(capacities.)12.8 ( However,)12.9 ( the)12.9 ( Group)12.9 ( managed)12.8 ( to)12.8 ( seize)12.8 ( sales)12.9 ( opportunities)12.8 ( to)12.8 ( maintain)12.9 ( a)12.8 ( high)28 ( )]TJ 0.031 Tc 0.077 Tw T* [(operation)6 ( )0.5 (level.)6.1 ( Efforts)6 ( )0.5 (were)6.1 ( )0.5 (made)6 ( )0.5 (to)6 ( )0.5 (strengthen)6 ( )0.5 (the)6 ( )0.5 (management)6 ( )0.5 (and)6 ( )0.5 (control)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Group,)6 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.167 TD [(resulting)9 ( )0.5 (in)9 ( )0.5 (gradual)9 ( )0.5 (improvements)9 ( )0.5 (on)9 ( )0.5 (its)9 ( )0.5 (operation.)9.1 ( The)9 ( )0.5 (overall)9 ( )0.5 (operation)9 ( )0.5 (of)9 ( )0.5 (the)9 ( )0.5 (Group)9 ( )0.5 (fell)9 ( )]TJ 0.025 Tc 0.01 Tw 0 -1.167 TD (short of expectations for the first half of 2018 due to some difficultie\s encountered. 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(Less: provision for doubtful receivables)Tj /T1_1 1 Tf -0.025 Tw 34.684 0 Td (\(7,523\))Tj /T1_0 1 Tf 8.504 0 Td (\(7,153\))Tj ET q 1 0 0 1 379.8425 517.2399 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 518.6898 Tm ( )Tj ET q 1 0 0 1 464.8818 517.2399 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 518.6898 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -2.917 -2.4 Td (5,093)Tj /T1_0 1 Tf 8.504 0 Td (9,271)Tj ET 1.11 w q 1 0 0 1 379.8425 490.0391 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 487.9391 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 489.294 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 490.0391 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 487.9391 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 489.294 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -40.252 -2.23 Td (9.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (TRADE AND OTHER PAYABLES)Tj -0.025 Tw 32 -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 (2018)Tj /T1_0 1 Tf 8.504 0 Td (2017)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 (Trade payables)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (69,267)Tj /T1_0 1 Tf 8.504 0 Td (61,006)Tj 0 Tw -43.046 -1.2 Td (Construction payable)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (220,800)Tj /T1_0 1 Tf 8.504 0 Td (246,747)Tj 0 Tw -42.521 -1.2 Td (Deposits from customers)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (269,868)Tj /T1_0 1 Tf 8.504 0 Td (301,517)Tj 0 Tw -42.521 -1.2 Td (Accruals and other payables)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (254,826)Tj /T1_0 1 Tf 8.504 0 Td (127,094)Tj ET 0.5 w q 1 0 0 1 379.8425 330.5349 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 331.9849 Tm ( )Tj ET q 1 0 0 1 464.8818 330.5349 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 331.9849 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.967 -2.4 Td (814,761)Tj /T1_0 1 Tf 8.504 0 Td (736,364)Tj ET 1.11 w q 1 0 0 1 379.8425 303.334 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 301.234 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 302.589 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 303.334 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 301.234 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 302.589 Tm ( )Tj 0.025 Tc -37.984 -2.23 Td (The aging analysis of trade payables prepared on the basis of the releva\nt invoice date is as follows:)Tj /T1_1 1 Tf -0.025 Tw 32 -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 (2018)Tj /T1_0 1 Tf 8.504 0 Td (2017)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 -41.883 -2.4 Td (Aged:)Tj 0 Tw 0.901 -1.2 Td (Less than 1 year)Tj /T1_1 1 Tf -0.025 Tw 33.641 0 Td (69,142)Tj /T1_0 1 Tf 8.504 0 Td (60,881)Tj 0 Tw -42.145 -1.2 Td (More than 1 year but not exceeding 2 years)Tj /T1_1 1 Tf 0 Tc 36.016 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (3)Tj 0.025 Tc -44.52 -1.2 Td (More than 2 years but not exceeding 3 years)Tj /T1_1 1 Tf -0.025 Tw 34.966 0 Td (125)Tj /T1_0 1 Tf 8.504 0 Td (122)Tj 0 Tw -43.47 -1.2 Td (More than 3 years)Tj /T1_1 1 Tf 0 Tc 36.016 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj ET 0.5 w q 1 0 0 1 379.8425 131.83 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 10 0 0 10 374.1732 133.28 Tm ( )Tj ET q 1 0 0 1 464.8818 131.83 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 133.28 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.442 -2.4 Td (69,267)Tj /T1_0 1 Tf 8.504 0 Td (61,006)Tj ET 1.11 w q 1 0 0 1 379.8425 104.6292 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 102.5292 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 103.8842 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 104.6292 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 102.5292 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 103.8842 Tm ( )Tj ET endstreamendobj66 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 9 \226)Tj /T1_1 1 Tf 10 0 0 10 56.6929 728.7079 Tm (6.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (EARNINGS PER SHARE)Tj /T1_0 1 Tf 0.018 Tw 0 -2.4 TD [(The )0.5 (calculation )0.6 (of )0.5 (the )0.6 (basic )0.5 (and )0.6 (diluted )0.6 (earnings )0.5 (per )0.6 (share )0.5 (for )0.6 (the )0.6 (six )0.5 (months )0.6 (ended )0.6 (30 )0.5 (June )0.6 (2018 )0.6 (and )0.5 (2017 )]TJ 0 Tw 0 -1.2 TD (were based on:)Tj /T1_1 1 Tf 32.14 -2.4 Td (Six months ended 30 June)Tj -0.025 Tw 3.202 -1.2 Td (2018)Tj /T1_0 1 Tf 8.504 0 Td (2017)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 (\(Loss\)/Profit for the period)Tj /T1_1 1 Tf -0.025 Tw 33.634 0 Td (\(161,014\))Tj /T1_0 1 Tf 9.029 0 Td (\(71,695\))Tj 0 Tw -42.663 -1.2 Td (Weighted average number of shares for calculation of )Tj 0 Tc ( )Tj 0.025 Tc 0.899 -1.2 Td (basic earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.469 0 Td (4,298,042,599)Tj /T1_0 1 Tf 8.504 0 Td (4,297,507,378)Tj 0 Tw -39.871 -2.4 Td (Effect of dilutive potential shares on)Tj 0 Tc ( )Tj 0.025 Tc 0.899 -1.2 Td (the outstanding share options and convertible bonds)Tj /T1_1 1 Tf 0 Tc 36.019 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 556.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 10 0 0 10 374.1732 557.6989 Tm ( )Tj ET q 1 0 0 1 464.8818 556.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 557.6989 Tm ( )Tj 0.025 Tc -37.984 -2.4 Td (Weighted average number of shares for calculation of )Tj 0 Tc ( )Tj 0.025 Tc 0.899 -1.2 Td (diluted earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.469 0 Td (4,298,042,599)Tj /T1_0 1 Tf 8.504 0 Td (4,297,507,378)Tj ET 1.11 w q 1 0 0 1 379.8425 517.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 514.948 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 516.303 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 517.048 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 514.948 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 516.303 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 1.193 Tw -40.252 -2.23 Td (7.)Tj /Span<>> BDC ( )Tj EMC (DIVIDEND)Tj /T1_0 1 Tf 0 Tw 2.268 -2.4 Td (The Board does not recommend the payment of any dividend for the six mon\ths ended 2018.)Tj /T1_1 1 Tf -2.268 -2.4 Td (8.)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (TRADE AND OTHER RECEIVABLES)Tj -0.025 Tw 32 -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 (2018)Tj /T1_0 1 Tf 8.504 0 Td (2017)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 (Trade receivables)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (5,093)Tj /T1_0 1 Tf 8.504 0 Td (9,271)Tj 0 Tw -43.571 -1.2 Td (Prepayments, purchase deposits)Tj 0 Tc ( )Tj 0.025 Tc 0.899 -1.2 Td (and other deposits)Tj /T1_1 1 Tf -0.025 Tw 33.119 0 Td (158,771)Tj /T1_0 1 Tf 8.504 0 Td (117,381)Tj 0 Tw -42.521 -1.2 Td (Notes receivable)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (7,545)Tj /T1_0 1 Tf 8.504 0 Td (5,095)Tj 0 Tw -43.571 -1.2 Td (Other receivables)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (70,977)Tj /T1_0 1 Tf 8.504 0 Td (84,922)Tj ET 0.5 w q 1 0 0 1 379.8425 297.544 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 298.994 Tm ( )Tj ET q 1 0 0 1 464.8818 297.544 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 298.994 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.967 -2.4 Td (242,386)Tj /T1_0 1 Tf 8.504 0 Td (216,669)Tj ET 1.11 w q 1 0 0 1 379.8425 270.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 268.2431 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1732 269.5981 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 270.3431 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 268.2431 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2126 269.5981 Tm ( )Tj ET endstreamendobj65 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 (2018)Tj /T1_0 1 Tf 8.504 0 Td (2017)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 33.634 0 Td (\(175,131\))Tj /T1_0 1 Tf 9.029 0 Td (\(78,942\))Tj 0 Tw -42.663 -1.2 Td (Depreciation of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (108,852)Tj /T1_0 1 Tf 8.504 0 Td (103,872)Tj 0 Tw -42.521 -1.2 Td (Amortisation of land us rights)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (2,309)Tj /T1_0 1 Tf 8.504 0 Td (1,621)Tj 0 Tw -43.571 -1.2 Td (Interest income)Tj /T1_1 1 Tf -0.025 Tw 36.009 0 Td (\(39\))Tj /T1_0 1 Tf 7.979 0 Td (\(867\))Tj 0 Tw -43.988 -1.2 Td (Interest expense)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (77,342)Tj /T1_0 1 Tf 8.504 0 Td (62,714)Tj 0 Tw -43.046 -1.2 Td (Loss/\(gain\) on disposal of fixed assets)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (1,747)Tj /T1_0 1 Tf 0 Tc 0 Tw 10.354 0 Td (\226)Tj 0.025 Tc -45.421 -1.2 Td (*Fair value change of derivative financial assets)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (41,670)Tj /T1_0 1 Tf 0 Tc 0 Tw 10.879 0 Td (\226)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8424 566.8317 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 10 0 0 10 374.1731 568.2816 Tm ( )Tj ET q 1 0 0 1 464.8818 566.8317 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2125 568.2816 Tm ( )Tj 0.025 Tc -37.984 -2.4 Td (Operation cash flow before working capital change)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (56,750)Tj /T1_0 1 Tf 8.504 0 Td (88,398)Tj ET q 1 0 0 1 379.8424 539.8226 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1731 541.2726 Tm ( )Tj ET q 1 0 0 1 464.8818 539.8226 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2125 541.2726 Tm ( )Tj 0.025 Tc -37.984 -2.4 Td (\(Increase\)/decrease in inventories)Tj /T1_1 1 Tf -0.025 Tw 34.684 0 Td (\(7,907\))Tj /T1_0 1 Tf 7.979 0 Td (\(52,757\))Tj 0 Tw -42.663 -1.2 Td (\(Increase\)/decrease in trade and other receivables)Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(25,717\))Tj /T1_0 1 Tf 7.979 0 Td (\(103,247\))Tj 0 Tw -42.138 -1.2 Td (Increase/\(decrease\) in trade an other payables)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (88,874)Tj /T1_0 1 Tf 7.979 0 Td (123,339)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 476.8135 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1731 478.2635 Tm ( )Tj ET q 1 0 0 1 464.8817 476.8135 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2125 478.2635 Tm ( )Tj 0.025 Tc -37.984 -2.4 Td (Cash generated from/\(used in\) operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (111,896)Tj /T1_0 1 Tf 9.029 0 Td (55,629)Tj 0 Tw -43.046 -1.2 Td (Income tax)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (14,067)Tj /T1_0 1 Tf 9.029 0 Td (7,221)Tj ET q 1 0 0 1 379.8423 437.8045 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1731 439.2545 Tm ( )Tj ET q 1 0 0 1 464.8817 437.8045 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2124 439.2545 Tm ( )Tj 0.025 Tc -37.984 -2.4 Td (Net cash generated from/\(used in\) operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (125,963)Tj /T1_0 1 Tf 9.029 0 Td (62,850)Tj ET 1.11 w q 1 0 0 1 379.8423 410.6037 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8423 408.5037 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 374.1731 409.8587 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8817 410.6037 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8817 408.5037 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 10 0 0 10 459.2124 409.8587 Tm ( )Tj 0.025 Tc 0.053 Tw -37.984 -2.23 Td (*)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (The fair value change of derivative financial assets was due to the loss\ of RMB41.7 million from the )Tj 0.084 Tc 0.07 Tw T* [(expiry)12.9 ( of)12.8 ( put)12.8 ( option)12.9 ( agreement)12.9 ( entered)12.8 ( between)12.8 ( the)12.8 ( Company)12.8 ( and)12.8 ( Asia)12.9 ( Pacific)12.8 ( Resources)59 ( )]TJ 0.025 Tc 0 Tw T* (Development Investment Limited on 18 January 2015.)Tj /T1_1 1 Tf 1.193 Tw -4.535 -2.4 Td (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 2018.)Tj 0 -2.4 TD (The applicable income tax rate of all subsidiaries located in Mainland C\hina in 2018 is 25%.)Tj 0.03 Tw T* (The income tax benefit made for Dazhou Ko Yo Chemical Industry Limited a\nd Guangan Ko Yo Chemical )Tj 0.065 Tw 0 -1.2 TD (Industry Company Limited for the six months ended 30 June 2018 was appro\ximately RMB7,133,000 and )Tj 0 Tw T* (RMB6,934,000 respectively.)Tj 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 (2018)Tj /T1_0 1 Tf 8.504 0 Td (2017)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 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/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 0.053 Tw T* (Rules Governing the Listing of the Securities \(the \223Listing Rules\224\\) on 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 2017. 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 (8)12.4 (5)12.4 (0)12.4 (,)12.5 (5)12.4 (8)12.4 (3)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 (8)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 2018 on the basis )Tj 0.029 Tc 0.079 Tw T* [(that)4 ( )0.5 (the)4 ( )0.5 (positive)4 ( )0.5 (cash)4 ( )0.5 (flow)4 ( )0.5 (from)4 ( )0.5 (Guangan)4 ( )0.5 (plant)4 ( )0.5 (and)4 ( )0.5 (Dazhou)4 ( )0.5 (Plant,)4 ( )0.5 (and)4 ( )0.5 (that)4 ( )0.6 (it)4 ( )0.5 (will)4 ( )0.5 (succeed)4 ( )0.5 (in)4.1 ( )0.5 (negotiating)4 ( )]TJ 0.025 Tc 0 Tw T* (with its bankers to 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 2018)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 2017)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 Td (%)Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 3.882 0 Td (RMB\222000)Tj 0 Tc 0 Tw 10.292 0 Td (%)Tj /T1_0 1 Tf 0.025 Tc -45.088 -2.4 Td (BB & complex fertilizers)Tj /T1_1 1 Tf -0.025 Tw 21.786 0 Td (18,397)Tj 8.662 0 Td (0.9)Tj /T1_0 1 Tf 5.512 0 Td (12,955)Tj 8.662 0 Td (0.7)Tj -44.621 -1.2 Td (Urea)Tj /T1_1 1 Tf 21.261 0 Td (268,330)Tj 8.662 0 Td (13.5)Tj /T1_0 1 Tf 5.512 0 Td (299,025)Tj 8.662 0 Td (16.8)Tj -44.096 -1.2 Td (Ammonia)Tj /T1_1 1 Tf 21.261 0 Td (166,446)Tj 9.187 0 Td (8.3)Tj /T1_0 1 Tf 4.987 0 Td (256,727)Tj 8.662 0 Td (14.4)Tj -44.096 -1.2 Td (Methanol)Tj /T1_1 1 Tf 21.261 0 Td (320,429)Tj 8.662 0 Td (16.1)Tj /T1_0 1 Tf 5.512 0 Td (456,438)Tj 8.662 0 Td (25.6)Tj 0.005 Tc 0 Tw -44.096 -1.2 Td (Polyphenylene Sulfide)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 21.786 0 Td (39,624)Tj 8.662 0 Td (2.0)Tj /T1_0 1 Tf 5.512 0 Td (58,938)Tj 8.662 0 Td (3.3)Tj -44.621 -1.2 Td (Others )Tj /T1_3 1 Tf 3.091 0 Td (\(Note\))Tj /T1_1 1 Tf 17.37 0 Td (1,179,425)Tj 9.462 0 Td (59.2)Tj /T1_0 1 Tf 5.512 0 Td (700,618)Tj 8.662 0 Td (39.2)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 266.4568 156.5889 cm 0 0 m 59.528 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 260.7875 158.0389 Tm ( )Tj ET q 1 0 0 1 337.3229 156.5889 cm 0 0 m 59.528 0 l S Q BT 10 0 0 10 331.6536 158.0389 Tm ( )Tj ET q 1 0 0 1 408.1891 156.5889 cm 0 0 m 59.528 0 l S Q BT /T1_0 1 Tf 10 0 0 10 402.5198 158.0389 Tm ( )Tj ET q 1 0 0 1 479.0552 156.5889 cm 0 0 m 59.528 0 l S Q BT 10 0 0 10 473.3859 158.0389 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -18.94 -2.4 Td (1,992,651)Tj 9.737 0 Td (100)Tj /T1_0 1 Tf 4.437 0 Td (1,784,701)Tj 9.737 0 Td (100)Tj ET 1.11 w q 1 0 0 1 266.4568 129.388 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 266.4568 127.2881 cm 0 0 m 59.528 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 10 0 0 10 260.7875 128.643 Tm ( )Tj ET 1.11 w q 1 0 0 1 337.3229 129.388 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 337.3229 127.2881 cm 0 0 m 59.528 0 l S Q BT 10 0 0 10 331.6536 128.643 Tm ( )Tj ET 1.11 w q 1 0 0 1 408.1891 129.388 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 408.1891 127.2881 cm 0 0 m 59.528 0 l S Q BT /T1_0 1 Tf 10 0 0 10 402.5198 128.643 Tm ( )Tj ET 1.11 w q 1 0 0 1 479.0552 129.388 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 479.0552 127.2881 cm 0 0 m 59.528 0 l S Q BT 10 0 0 10 473.3859 128.643 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw -39.402 -2.23 Td (Note:)Tj /T1_0 1 Tf 0 Tw /Span<>> BDC ( )Tj EMC 3.402 0 Td (Others are trading of urea, potash fertilizers, methanol, ammonia and co\mpound fertilizers.)Tj ET endstreamendobj63 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 6 \226)Tj /T1_1 1 Tf -19.029 58.583 Td (UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY)Tj /T1_2 1 Tf 0 -1.167 TD (For the six months ended 30 June 2018 and 30 June 2017)Tj /T1_1 1 Tf -0.025 Tw 6 0 0 10 140.3057 674.7078 Tm (Share)Tj -0.717 -1.2 Td (Capital)Tj 7.804 1.2 Td (Share)Tj -1.549 -1.2 Td (Premium)Tj 7.891 1.2 Td (Merger)Tj -0.192 -1.2 Td (Reserve)Tj 5.096 1.2 Td (Share-based)Tj -0.614 -1.2 Td (compensation)Tj 9.691 1.2 Td (Reserve)Tj 1.183 -1.2 Td (Fund)Tj 4.661 2.4 Td (Enterprise)Tj 0.078 -1.2 Td (Expansion)Tj 2.348 -1.2 Td (Fund)Tj 5.433 1.2 Td (Retained)Tj -0.057 -1.2 Td (Earnings)Tj 5.735 1.2 Td (Transaction)Tj 0 Tw 2.376 -1.2 Td (to NCI)Tj -0.025 Tw 8.245 0 Td (NCI)Tj 6.592 0 Td (Total)Tj /T1_2 1 Tf -65.44 -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 7.087 0 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 7.087 0 Td (RMB\222000)Tj 7.087 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -76.277 -2.4 Td (At 1 January 2017 )Tj -0.025 Tw 0.619 -1.2 Td (\(audited\))Tj 12.517 0 Td (367,531)Tj 6.287 0 Td (1,406,774)Tj 8.029 0 Td (\(22,041\))Tj 6.945 0 Td (255,287)Tj 7.612 0 Td (45,273)Tj 7.612 0 Td (1,131)Tj 5.654 0 Td (\(665,531\))Tj 8.137 0 Td (\(3,509\))Tj 7.47 0 Td (1.976)Tj 5.237 0 Td (1,386,891)Tj 0 Tw -76.115 -2.4 Td (Net loss for the 6 )Tj 0.619 -1.2 Td (Months ended)Tj 0 Tc ( )Tj 0.025 Tc 0 -1.2 TD (30 June 2017)Tj 0 Tc 15.417 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.329 0 Td (\(71,695\))Tj 0 Tc 0 Tw 9.845 0 Td (\226)Tj 0.025 Tc -0.025 Tw 6.179 0 Td (\(26\))Tj 5.237 0 Td (\(71,721\))Tj 0 Tw -77.057 -2.4 Td (Issue of new shares)Tj -0.025 Tw 14.985 0 Td (775)Tj 7.087 0 Td (328)Tj 0 Tc 0 Tw 8.137 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 7.087 0 Td (\226)Tj 0.025 Tc -0.025 Tw 5.237 0 Td (1,103)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 124.7247 538.2488 cm 0 0 m 31.181 0 l S Q BT 0 Tc 0 Tw 6 0 0 10 152.6058 539.6987 Tm ( )Tj ET q 1 0 0 1 167.2444 538.2488 cm 0 0 m 31.181 0 l S Q BT 6 0 0 10 195.1255 539.6987 Tm ( )Tj ET q 1 0 0 1 209.7641 538.2488 cm 0 0 m 31.181 0 l S Q BT 6 0 0 10 237.6452 539.6987 Tm ( )Tj ET q 1 0 0 1 252.2838 538.2488 cm 0 0 m 31.181 0 l S Q BT 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6.089 0 Td (101,061)Tj /T1_0 1 Tf 7.087 0 Td (345,960)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8423 566.2488 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.173 568.0388 Tm ( )Tj ET q 1 0 0 1 464.8817 566.2488 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2124 568.0388 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -4.672 -2.333 Td (2,197,553)Tj /T1_0 1 Tf 7.087 0 Td (2,386,330)Tj ET q 1 0 0 1 379.8423 535.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.173 537.0297 Tm ( )Tj ET q 1 0 0 1 464.8816 535.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2123 537.0297 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (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 (690,910)Tj /T1_0 1 Tf 7.087 0 Td (437,961)Tj 0 Tw -36.006 -1.167 Td (Convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (124,191)Tj /T1_0 1 Tf 7.087 0 Td (124,191)Tj 0 Tw -36.006 -1.167 Td (Deferred subsidy income)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (1,172)Tj /T1_0 1 Tf 7.087 0 Td (1,276)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 (71,616)Tj /T1_0 1 Tf 7.087 0 Td (71,616)Tj ET q 1 0 0 1 379.8422 448.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 450.0206 Tm ( )Tj ET q 1 0 0 1 464.8816 448.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2123 450.0206 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.872 -2.333 Td (887,889)Tj /T1_0 1 Tf 7.087 0 Td (635,044)Tj ET q 1 0 0 1 379.8422 417.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 419.0116 Tm ( )Tj ET q 1 0 0 1 464.8816 417.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2123 419.0116 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Total liabilities)Tj -0.025 Tw 28.871 0 Td (3,085,442)Tj /T1_0 1 Tf 7.087 0 Td (3,021,374)Tj ET q 1 0 0 1 379.8422 386.2125 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 388.0025 Tm ( )Tj ET q 1 0 0 1 464.8816 386.2125 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2123 388.0025 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Total equity and liabilities)Tj -0.025 Tw 28.871 0 Td (3,858,770)Tj /T1_0 1 Tf 7.087 0 Td (3,954,871)Tj ET 1.11 w q 1 0 0 1 379.8421 355.0117 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8422 352.9117 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 354.6067 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8815 355.0117 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 352.9117 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2122 354.6067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Net current liabilities)Tj -0.025 Tw 28.488 0 Td (\(1,850,583\))Tj /T1_0 1 Tf 7.087 0 Td (\(2,029,259\))Tj ET 1.11 w q 1 0 0 1 379.8421 321.6159 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8421 319.5159 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1728 321.2108 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8815 321.6159 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 319.5159 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2122 321.2108 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Total assets less current liabilities)Tj -0.025 Tw 28.871 0 Td (1,661,217)Tj /T1_0 1 Tf 7.087 0 Td (1,568,541)Tj ET 1.11 w q 1 0 0 1 379.8421 288.2201 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8421 286.1201 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1728 287.815 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8814 288.2201 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 286.1201 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2122 287.815 Tm ( )Tj ET endstreamendobj73 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 2018 and 31 December 2017)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 (2018)Tj /T1_0 1 Tf 7.087 0 Td (2017)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 (2,968,594)Tj /T1_0 1 Tf 7.087 0 Td (3,066,352)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 6.089 0 Td (113,518)Tj /T1_0 1 Tf 7.612 0 Td (99,451)Tj 0 Tw -36.531 -1.167 Td (Investment properties)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (11,618)Tj /T1_0 1 Tf 7.087 0 Td (11,618)Tj 0 Tw -36.531 -1.167 Td (Mining right)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (297,300)Tj /T1_0 1 Tf 7.087 0 Td (297,300)Tj 0 Tw -36.006 -1.167 Td (Intangible assets)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (8,619)Tj /T1_0 1 Tf 7.087 0 Td (8,619)Tj 0 Tw -37.056 -1.167 Td (Land use rights)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (112,151)Tj /T1_0 1 Tf 7.087 0 Td (114,460)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 12 0 0 12 374.173 500.0388 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 12 0 0 12 459.2124 500.0388 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -4.672 -2.333 Td (3,511,800)Tj /T1_0 1 Tf 7.087 0 Td (3,597,800)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 12 0 0 12 374.173 469.0297 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 12 0 0 12 459.2123 469.0297 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Current assets)Tj /T1_0 1 Tf -0.025 Tw 0.751 -1.167 Td (Inventories)Tj /T1_1 1 Tf 29.445 0 Td (78,731)Tj /T1_0 1 Tf 7.087 0 Td (70,824)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 (242,386)Tj /T1_0 1 Tf 7.087 0 Td (216,669)Tj 0 Tw -36.006 -1.167 Td (Derivative financial assets)Tj /T1_1 1 Tf 0 Tc 31.82 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 4.712 0 Td (41,670)Tj 0 Tw -36.531 -1.167 Td (Pledged bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (16,828)Tj /T1_0 1 Tf 7.087 0 Td (11,596)Tj 0 Tw -36.531 -1.167 Td (Cash and bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (9,025)Tj /T1_0 1 Tf 6.562 0 Td (16,312)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 12 0 0 12 374.1729 368.0207 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 12 0 0 12 459.2123 368.0207 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -3.872 -2.333 Td (346,970)Tj /T1_0 1 Tf 7.087 0 Td (357,071)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 12 0 0 12 374.1729 337.0116 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 12 0 0 12 459.2123 337.0116 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Total assets)Tj -0.025 Tw 28.871 0 Td (3,858,770)Tj /T1_0 1 Tf 7.087 0 Td (3,954,871)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 12 0 0 12 374.1729 303.6158 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 12 0 0 12 459.2123 303.6158 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw -33.543 -2.333 Td (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 (368,394)Tj /T1_0 1 Tf 7.087 0 Td (368,394)Tj 0 Tw -36.006 -1.167 Td (Reserves Others)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (403,102)Tj /T1_0 1 Tf 7.087 0 Td (563,221)Tj ET 0.5 w q 1 0 0 1 379.8422 242.8168 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 244.6068 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 12 0 0 12 459.2122 244.6068 Tm ( )Tj 0.025 Tc -32.792 -2.333 Td (Shareholders\222 funds)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (771,496)Tj /T1_0 1 Tf 7.087 0 Td (931,615)Tj ET q 1 0 0 1 379.8422 211.8077 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 213.5977 Tm ( )Tj ET q 1 0 0 1 464.8815 211.8077 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2122 213.5977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Non-controlling interest)Tj -0.025 Tw 30.721 0 Td (1,832)Tj /T1_0 1 Tf 7.087 0 Td (1,882)Tj ET q 1 0 0 1 379.8422 180.7987 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 182.5886 Tm ( )Tj ET q 1 0 0 1 464.8815 180.7987 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2122 182.5886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -33.543 -2.333 Td (Total equity)Tj -0.025 Tw 29.671 0 Td (773,328)Tj /T1_0 1 Tf 7.087 0 Td (933,497)Tj ET q 1 0 0 1 379.8422 149.7896 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 12 0 0 12 374.1729 151.5796 Tm ( )Tj ET q 1 0 0 1 464.8815 149.7896 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 12 0 0 12 459.2122 151.5796 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 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 ( )0.5 (\(collectively,)1 ( )0.5 (the)1 ( )0.5 (\223Group\224\))1 ( )0.5 (for)1 ( )0.5 (the)1 ( )0.5 (six)1 ( )0.5 (months)1 ( )0.5 (ended)1 ( )0.5 (3)1 (0)1 ( )]TJ 0.03 Tc 0.078 Tw T* [(June)5 ( )0.5 (2)5 (0)5 (1)5 (8)5 ( )0.5 (together)5 ( )0.5 (with)5 ( )0.5 (the)5 ( )0.5 (unaudited)5 ( )0.5 (comparative)5 ( )0.5 (figures)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (corresponding)5 ( )0.5 (periods)5 ( )0.5 (in)5.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (2017 are as follows:)Tj /T1_1 1 Tf 0 -2.333 TD (UNAUDITED CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT)Tj /T1_2 1 Tf 0 -1.167 TD (For the six months ended 30 June 2018 and 30 June 2017)Tj /T1_1 1 Tf 27.699 -2.333 Td (Six months ended 30 June)Tj -0.025 Tw 3.297 -1.167 Td (2018)Tj /T1_0 1 Tf 7.087 0 Td (2017)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_0 1 Tf -36.12 -2.333 Td (Turnover)Tj /T1_2 1 Tf 0 Tc 0 Tw 23.844 0 Td (3)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.026 0 Td (1,992,651)Tj /T1_0 1 Tf 7.087 0 Td (1,784,701)Tj 0 Tw -35.957 -1.167 Td (Cost of sales)Tj /T1_1 1 Tf -0.025 Tw 28.488 0 Td (\(1,876,359\))Tj /T1_0 1 Tf 7.087 0 Td (\(1,736,990\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8424 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 0.1 374.1731 498.0158 Tm ( )Tj ET q 1 0 0 1 464.8818 498.2488 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 498.0158 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6928 472.0388 Tm (Gross profit)Tj /T1_1 1 Tf -0.025 Tw 29.671 0 Td (116,292)Tj /T1_0 1 Tf 7.612 0 Td (47,711)Tj ET q 1 0 0 1 379.8424 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 0.1 374.1731 467.0067 Tm ( )Tj ET q 1 0 0 1 464.8818 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 467.0067 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6928 441.0297 Tm (Interest income)Tj /T1_1 1 Tf -0.025 Tw 32.046 0 Td (39)Tj /T1_0 1 Tf 6.562 0 Td (867)Tj 0 Tw -38.607 -1.167 Td (Distribution costs)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(17,367\))Tj /T1_0 1 Tf 7.087 0 Td (\(24,030\))Tj 0 Tw -36.899 -1.167 Td (Administrative expenses)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(158,399\))Tj /T1_0 1 Tf 7.612 0 Td (\(43,772\))Tj 0 Tw -36.899 -1.167 Td (Other \(loss\)/income)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(38,354\))Tj /T1_0 1 Tf 7.995 0 Td (2,996)Tj ET q 1 0 0 1 379.8423 394.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 393.9977 Tm ( )Tj ET q 1 0 0 1 464.8817 394.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 393.9977 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6927 368.0207 Tm (Operating profit)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(97,789\))Tj /T1_0 1 Tf 7.087 0 Td (\(16,228\))Tj 0 Tw -36.899 -1.167 Td (Finance costs)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(77,342\))Tj /T1_0 1 Tf 7.087 0 Td (\(62,714\))Tj ET q 1 0 0 1 379.8423 349.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 348.9886 Tm ( )Tj ET q 1 0 0 1 464.8817 349.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 348.9886 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6927 323.0116 Tm (\(Loss\)/Profit before taxation)Tj /T1_2 1 Tf 0 Tc 23.844 0 Td (4)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 5.443 0 Td (\(175,131\))Tj /T1_0 1 Tf 7.612 0 Td (\(78,942\))Tj -36.899 -1.167 Td (Taxation)Tj /T1_2 1 Tf 0 Tc 0 Tw 23.844 0 Td (5)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 6.351 0 Td (14,067)Tj /T1_0 1 Tf 7.612 0 Td (7,221)Tj ET q 1 0 0 1 379.8423 304.2126 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 303.9796 Tm ( )Tj ET q 1 0 0 1 464.8817 304.2126 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 303.9796 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6927 278.0026 Tm (\(Loss\)/Profit for the period)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(161,064\))Tj /T1_0 1 Tf 7.612 0 Td (\(71,721\))Tj ET q 1 0 0 1 379.8423 273.2035 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 272.9705 Tm ( )Tj ET q 1 0 0 1 464.8816 273.2035 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 272.9705 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6927 246.9935 Tm (Attributable to:)Tj 0 -1.167 TD (Equity holders of the Company)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(161,014\))Tj /T1_0 1 Tf 7.612 0 Td (\(71,695\))Tj 0 Tw -36.899 -1.167 Td (Non-controlling interests)Tj /T1_1 1 Tf -0.025 Tw 31.663 0 Td (\(50\))Tj /T1_0 1 Tf 7.087 0 Td (\(26\))Tj ET q 1 0 0 1 379.8421 214.1945 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 213.9615 Tm ( )Tj ET q 1 0 0 1 464.8815 214.1945 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 213.9615 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 408.147 187.9845 Tm (\(161,064\))Tj /T1_0 1 Tf 7.612 0 Td (\(71,721\))Tj ET 1.11 w q 1 0 0 1 379.8421 182.9937 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8421 180.8937 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 1.11 w q 1 0 0 1 464.8814 182.9937 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 180.8937 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 180.5657 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6925 154.5887 Tm (Basic \(loss\)/earning per share \(RMB cents\))Tj /T1_2 1 Tf 0 Tc 23.844 0 Td (6)Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 7.018 0 Td (\(3.75\))Tj /T1_0 1 Tf 7.087 0 Td (\(1.67\))Tj ET 1.11 w q 1 0 0 1 379.842 149.5979 cm 0 0 m 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