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)0.5 (the)5 ( )0.5 (ability)5 ( )0.5 (to)5 ( )0.5 (meet)5 ( )0.5 (the)5 ( )0.5 (redemption)5 ( )0.5 (obligations)5.1 ( )]TJ 0.025 Tc 0.012 Tw T* (under all the Convertible Securities 1, 2 and 3. The maturity dates of C\onvertible Securities 1, )Tj 0.006 Tw 0 -1.167 TD (Convertible Securities 2 and Convertible Securities 3 are 12 November 20\24, 30 January 2024 )Tj 0 Tw 0 -1.167 TD (and 14 March 2024 respectively.)Tj 0.041 Tc 0.07 Tw 0 -2.333 TD [(Ba)0.5 (sed)12.9 ( on)13 ( the)12.9 ( im)0.5 (plied)12.9 ( )0.5 (interna)0.5 (l)12.9 ( ra)0.5 (te)12.9 ( of)12.9 ( )0.5 (returns)13 ( and)12.9 ( )0.5 (other)12.9 ( )0.5 (relev)0.5 (ant)12.9 ( pa)0.5 (rame)0.5 (ters)12.9 ( o)0.5 (f)12.9 ( Conve)0.5 (rtible)16 ( )]TJ 0.04 Tc 0 -1.167 TD [(Securities)12.6 ( 1)12.5 (,)12.6 ( Convertible)12.6 ( Securities)12.6 ( 2)12.6 ( and)12.5 ( Convertible)12.5 ( Securities)12.6 ( 3)12.5 (,)12.6 ( the)12.5 ( Share)12.6 ( prices)12.5 ( at)12.5 ( the)15 ( )]TJ 0.025 Tc 0.009 Tw T* (future dates at which it would be equally financially advantageous for t\he securities holders to )Tj 0 Tw 0 -1.167 TD (convert or redeem were as follows:)Tj /T1_1 1 Tf 11.4 0 0 12 56.6929 573.0479 Tm (Convertible Securities 1)Tj /T1_0 1 Tf -0.025 Tw 0 -2.333 TD (Date)Tj 12.515 0 Td (31-12-2019)Tj 6.216 0 Td (31-12-2020)Tj 6.216 0 Td (31-12-2021)Tj 6.216 0 Td (31-12-2022)Tj 6.216 0 Td (31-12-2023)Tj 0 Tw -37.38 -1.167 Td (Share price )Tj /T1_2 1 Tf -0.025 Tw (\(HK$\))Tj /T1_0 1 Tf 15.056 0 Td (0.295)Tj 6.216 0 Td (0.305)Tj 6.216 0 Td (0.317)Tj 6.216 0 Td (0.330)Tj 6.216 0 Td (0.345)Tj /T1_1 1 Tf 0 Tw -39.921 -2.333 Td (Convertible Securities 2)Tj /T1_0 1 Tf -0.025 Tw 0 -2.333 TD (Date)Tj 12.515 0 Td (31-12-2019)Tj 6.216 0 Td (31-12-2020)Tj 6.216 0 Td (31-12-2021)Tj 6.216 0 Td (31-12-2022)Tj 6.216 0 Td (31-12-2023)Tj 0 Tw -37.38 -1.167 Td (Share price )Tj /T1_2 1 Tf -0.025 Tw (\(HK$\))Tj /T1_0 1 Tf 15.056 0 Td (0.213)Tj 6.216 0 Td (0.217)Tj 6.216 0 Td (0.225)Tj 6.216 0 Td (0.231)Tj 6.216 0 Td (0.237)Tj /T1_1 1 Tf 0 Tw -39.921 -2.333 Td (Convertible Securities 3)Tj /T1_0 1 Tf -0.025 Tw 0 -2.333 TD (Date)Tj 12.515 0 Td (31-12-2019)Tj 6.216 0 Td (31-12-2020)Tj 6.216 0 Td (31-12-2021)Tj 6.216 0 Td (31-12-2022)Tj 6.216 0 Td (31-12-2023)Tj 0 Tw -37.38 -1.167 Td (Share price )Tj /T1_2 1 Tf -0.025 Tw (\(HK$\))Tj /T1_0 1 Tf 15.056 0 Td (0.219)Tj 6.216 0 Td (0.224)Tj 6.216 0 Td (0.233)Tj 6.216 0 Td (0.238)Tj 6.216 0 Td (0.245)Tj ET endstreamendobj42 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 20 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (OUTSTANDING CONVERTIBLE SECURITIES)Tj /T1_0 1 Tf 0.026 Tw 0 -2.333 TD (Assuming all outstanding convertibles securities converted into shares a\s at 30 June 2019, the )Tj 0.029 Tc 0.079 Tw 0 -1.167 TD [(s)0.5 (h)0.5 (a)0.5 (r)0.5 (e)0.6 (ho)0.6 (l)0.5 (d)0.5 (i)0.5 (n)0.5 (g)4 ( )0.5 (s)0.5 (t)0.5 (r)0.5 (u)0.5 (c)0.5 (t)0.5 (u)0.5 (r)0.5 (e)4 ( )0.5 (o)0.6 (f)4 ( )0.5 (t)0.5 (h)0.5 (e)4 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)4 ( )0.5 (b)0.5 (e)0.6 (f)0.5 (o)0.5 (r)0.5 (e)4 ( )0.5 (a)0.5 (n)0.5 (d)4 ( )0.5 (a)0.5 (f)0.6 (t)0.5 (e)0.5 (r)4 ( )0.5 (s)0.5 (u)0.5 (c)0.5 (h)4 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (v)0.5 (e)0.6 (r)0.5 (s)0.5 (i)0.5 (o)0.5 (n)4 ( )0.5 (f)0.5 (o)0.5 (r)4 ( )0.5 (t)0.5 (h)0.5 (e)4 ( )0.5 (o)0.5 (u)0.5 (t)0.5 (s)0.5 (t)0.6 (a)0.5 (n)0.5 (d)0.5 (i)0.5 (n)0.5 (g)4 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.167 TD [(c)0.5 (o)0.5 (n)0.5 (v)0.5 (e)0.5 (r)0.6 (t)0.5 (i)0.5 (b)0.5 (l)0.5 (e)2 ( )0.5 (s)0.5 (e)0.5 (c)0.5 (u)0.5 (r)0.5 (i)0.5 (t)0.5 (i)0.5 (e)0.5 (s)2 ( )0.5 (\()0.5 (t)0.6 (he)2.1 ( \223)0.6 (C)0.5 (o)0.5 (n)0.5 (v)0.5 (e)0.5 (r)0.5 (t)0.5 (i)0.5 (b)0.5 (l)0.5 (e)2 ( )0.5 (S)0.5 (e)0.5 (c)0.5 (u)0.6 (r)0.5 (i)0.5 (t)0.5 (i)0.5 (e)0.5 (s)2 ( )0.5 (1)2 (\224)0.5 (\))2 ( )0.5 (i)0.5 (s)0.5 (s)0.5 (u)0.5 (e)0.5 (d)2 ( )0.5 (o)0.5 (n)2 ( )0.5 (1)2 (3)2 ( )0.5 (N)0.5 (o)0.5 (v)0.5 (e)0.5 (m)0.5 (b)0.5 (e)0.5 (r)2 ( )0.5 (2)2 (0)2 (1)2 (4)2 ( )0.5 (t)0.5 (h)0.5 (a)0.5 (t)2 ( )0.5 (c)0.5 (a)0.5 (n)2 ( )]TJ 0.025 Tc 0.028 Tw T* (convert into 1,002,675,000 shares \(the \223Shares\224\) of the Company,\ the outstanding convertible )Tj 0.038 Tc 0.07 Tw 0 -1.167 TD [(securities)12.2 ( \(the)12.2 ( \223Convertible)12.2 ( Securities)12.1 ( 2)12.2 (\224\))12.2 ( issued)12.2 ( on)12.1 ( 3)12.1 (1)12.2 ( January)12.2 ( 2)12.2 (0)12.1 (1)12.2 (9)12.1 ( that)12.2 ( can)12.1 ( convert)12.2 ( into)13 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.167 TD [(1)3 (,)3 (2)3 (0)3 (0)3 (,)3 (0)3 (0)3 (0)3 (,)3 (0)3 (0)3 (0)3 ( )0.5 (Shares)3 ( )0.5 (and)3 ( )0.5 (the)3 ( )0.5 (outstanding)3 ( )0.5 (convertible)3 ( )0.5 (securities)3 ( )0.5 (\(the)3 ( )0.5 (\223Convertbile)3 ( )0.5 (Securities)3 ( )]TJ 0.025 Tc 0 Tw T* (3\224\) issued on 15 March 2019 that can convert into 1,300,000,000 Shar\es is as follow:)Tj /T1_1 1 Tf 10.8 0 0 12 188.1708 562.0479 Tm (No. of Shares before the )Tj -0.389 -1.083 Td (conversion of outstanding )Tj 1.025 -1.083 Td (convertible securities)Tj 12.692 4.333 Td (No. of Shares)Tj -1.327 -1.083 Td (from conversion)Tj 0.856 -1.083 Td (of outstanding)Tj -0.025 Tw 1.438 -1.083 Td (convertible)Tj 0.803 -1.083 Td (securities)Tj 0 Tw 6.245 2.167 Td (No. of Shares after the )Tj -0.735 -1.083 Td (conversion of outstanding )Tj 1.025 -1.083 Td (convertible securities)Tj -33.807 -3.25 Td (As at 30/6/2019)Tj -0.025 Tw 14.693 1.083 Td (Number)Tj 0 Tw -0.492 -1.083 Td (of Shares)Tj 7.263 2.167 Td (% of)Tj -0.025 Tw -1.63 -1.083 Td (holdings)Tj -0.109 -1.083 Td (\(approx\))Tj 8.091 1.083 Td (Number)Tj 0 Tw -0.492 -1.083 Td (of Shares)Tj -0.025 Tw 8.366 1.083 Td (Number)Tj 0 Tw -0.492 -1.083 Td (of Shares)Tj 7.263 2.167 Td (% of)Tj -0.025 Tw -1.63 -1.083 Td (holdings)Tj -0.109 -1.083 Td (\(approx\))Tj 0 Tw -40.722 -2.167 Td (Substantial Shareholder)Tj /T1_0 1 Tf 0 -2.167 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 (23.09)Tj /T1_1 1 Tf -42.269 -2.167 Td (Directors)Tj /T1_0 1 Tf 0 Tw 0 -1.083 TD (*Mr. Tang Guoqiang)Tj -0.025 Tw 13.123 0 Td (100,000,000)Tj 8.674 0 Td (2.33)Tj 3.649 0 Td (2,240,137,273)Tj 7.874 0 Td (2,340,137,273)Tj 8.949 0 Td (29.99)Tj 0 Tw -42.269 -1.083 Td (Mr. Shi Jianmin)Tj -0.025 Tw 14.973 0 Td (300,000)Tj 6.824 0 Td (0.01)Tj 0 Tc 0 Tw 9.199 0 Td (\226)Tj 0.025 Tc -0.025 Tw 4.974 0 Td (300,000)Tj 6.824 0 Td (0.01)Tj /T1_1 1 Tf 0 Tw -42.794 -2.167 Td (Public Shareholders)Tj /T1_0 1 Tf -0.025 Tw 12.323 0 Td (3,397,742,599)Tj 8.949 0 Td (79.05)Tj 4.974 0 Td (261,162,727)Tj 7.074 0 Td (3,658,905,326)Tj 8.949 0 Td (46.91)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 181.4173 362.2488 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 175.748 362.0158 Tm ( )Tj ET q 1 0 0 1 266.4567 362.2488 cm 0 0 m 45.354 0 l S Q BT 0.1 0 0 0.1 260.7874 362.0158 Tm ( )Tj ET q 1 0 0 1 323.1496 362.2488 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 317.4803 362.0158 Tm ( )Tj ET q 1 0 0 1 408.189 362.2488 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 402.5197 362.0158 Tm ( )Tj ET q 1 0 0 1 493.2283 362.2488 cm 0 0 m 45.354 0 l S Q BT 0.1 0 0 0.1 487.5591 362.0158 Tm ( )Tj 0.025 Tc -0.025 Tw 10.8 0 0 12 56.6929 338.0388 Tm (Total)Tj 12.323 0 Td (4,298,042,599)Tj 8.424 0 Td (100.00)Tj 4.699 0 Td (3,502,675,000)Tj 7.874 0 Td (7,800,717,599)Tj 8.424 0 Td (100.00)Tj ET 1.11 w q 1 0 0 1 181.4173 334.1819 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 181.4173 332.0818 cm 0 0 m 73.701 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 175.748 331.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 266.4567 334.1819 cm 0 0 m 45.354 0 l S Q 0.45 w q 1 0 0 1 266.4567 332.0818 cm 0 0 m 45.354 0 l S Q BT 0.1 0 0 0.1 260.7874 331.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 323.1496 334.1819 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 323.1496 332.0818 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 317.4803 331.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 408.189 334.1819 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 408.189 332.0818 cm 0 0 m 73.701 0 l S Q BT 0.1 0 0 0.1 402.5197 331.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 493.2283 334.1819 cm 0 0 m 45.354 0 l S Q 0.45 w q 1 0 0 1 493.2283 332.0818 cm 0 0 m 45.354 0 l S Q BT 0.1 0 0 0.1 487.5591 331.7538 Tm ( )Tj 0.025 Tc 0.032 Tw 10 0 0 10 56.6929 309.8168 Tm (*)Tj /Span<>> BDC ( )Tj EMC 2.268 0 Td (The conversion does not trigger any mandatory offer obligations under Ru\le 26 of the Hong Kong Code on )Tj 0.04 Tc 0.07 Tw 0 -1.2 TD [(T)0.5 (a)0.5 (k)0.5 (e)0.5 (ov)0.5 (e)0.5 (r)0.5 (s)13 ( )0.5 (a)0.5 (n)0.5 (d)12.9 ( )0.5 (M)0.5 (e)0.5 (r)0.5 (g)0.5 (e)0.5 (r)0.5 (s)12.9 ( )0.5 (\()0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (\223)0.5 (Ta)0.5 (k)0.5 (e)0.5 (o)0.5 (v)0.5 (e)0.5 (r)0.5 (s)12.9 ( )0.5 (C)0.5 (o)0.5 (d)0.5 (e)0.5 (\224)0.5 (\))13 ( o)0.5 (n)13 ( )0.5 (t)0.5 (h)0.5 (e)12.9 ( )0.5 (p)0.5 (a)0.5 (r)0.5 (t)13 ( )0.5 (of)13 ( )0.5 (M)0.5 (r)0.5 (.)13 ( )0.5 (Ta)0.5 (n)0.5 (g)13 ( )0.5 (G)0.5 (u)0.5 (oq)0.5 (i)0.5 (a)0.5 (n)0.5 (g)13 ( w)0.5 (h)0.5 (i)0.5 (c)0.5 (h)13 ( )0.5 (e)0.5 (xe)0.5 (r)0.5 (c)0.5 (i)0.5 (s)0.5 (e)0.5 (d)12.9 ( )0.5 (t)0.5 (h)0.5 (e)15 ( )]TJ 0.025 Tc 0.071 Tw T* (conversion rights, namely more than 30% \(or such other percentage as st\ated in Rule 26 of the Takeovers )Tj 0 Tw T* (Code in effect from time to time\) of the then issued share capital of t\he Company.)Tj 0.066 Tc 0.07 Tw 12 0 0 12 56.6929 245.8168 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 (9)12.7 ( assuming)12.7 ( all)12.7 ( outstanding)41 ( )]TJ 0.025 Tc 0.011 Tw 0 -1.167 TD (convertible securities being converted was RMB0.042 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 0 -1.167 TD [(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 T* (ordinary shares would increase earnings per share or decrease loss per s\hare from continuing )Tj 0.023 Tc 0 Tw 0 -1.167 TD [(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 T* [(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 0 -1.167 TD (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 ET endstreamendobj39 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 19 \226)Tj 0.049 Tw -18.766 58.583 Td (Details of options granted by the Company pursuant to the Share Option S\cheme and options )Tj 0 Tw 0 -1.167 TD (outstanding as at 30 June 2019 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 681.1732 cm 0 0 m 45.854 0 l S Q q 1 0 0 1 317.4803 641.9232 cm 0 0 m 0 39 l S Q q 1 0 0 1 362.8346 641.9232 cm 0 0 m 0 39 l S Q q 1 0 0 1 317.4803 628.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 628.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 615.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 615.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 602.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 602.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 589.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 589.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 576.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 576.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 563.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 563.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 550.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 550.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 537.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 537.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 524.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 524.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 511.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 511.9232 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 508.9142 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 362.8346 508.9142 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 317.4803 495.9142 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 495.9142 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 482.9142 cm 0 0 m 0 13 l S Q q 1 0 0 1 362.8346 482.9142 cm 0 0 m 0 13 l S Q q 1 0 0 1 317.4803 478.6522 cm 0 0 m 0 4.262 l S Q q 1 0 0 1 362.8346 478.6522 cm 0 0 m 0 4.262 l S Q q 1 0 0 1 317.4803 475.6431 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 362.8346 475.6431 cm 0 0 m 0 3.009 l S Q q 1 0 0 1 317.2303 475.3931 cm 0 0 m 45.854 0 l S Q BT /GS0 gs /T1_1 1 Tf 8.4 0 0 12 293.3995 686.0479 Tm (Number of share options)Tj -17.295 -1.34 Td (Held at)Tj 0.883 -1.083 Td (1 Jan)Tj -0.025 Tw 0.331 -1.083 Td (2019)Tj 4.763 2.167 Td (Grant)Tj -0.304 -1.083 Td (during)Tj 0.112 -1.083 Td (period)Tj 3.936 2.167 Td (Exercised)Tj 1.351 -1.083 Td (during)Tj 0.112 -1.083 Td (period)Tj 4.159 2.167 Td (Forfeited)Tj 1.128 -1.083 Td (during)Tj 0.112 -1.083 Td (period)Tj 0 Tw 5.043 2.167 Td (Held at)Tj 0.302 -1.083 Td (30 Jun)Tj -0.025 Tw 0.912 -1.083 Td (2019)Tj 4.46 2.167 Td (Shares)Tj -0.526 -1.083 Td (Options)Tj 0 Tc 0 Tw 2.818 -1.083 Td (A)Tj 0.025 Tc -0.025 Tw 3.078 2.167 Td (Shares)Tj -0.526 -1.083 Td (Options)Tj 0 Tc 0 Tw 2.873 -1.083 Td (B)Tj 0.025 Tc -0.025 Tw 3.052 2.167 Td (Shares)Tj -0.526 -1.083 Td (Options)Tj 0 Tc 0 Tw 2.818 -1.083 Td (C)Tj 0.025 Tc -0.025 Tw 3.107 2.167 Td (Shares)Tj -0.526 -1.083 Td (Options)Tj 0 Tc 0 Tw 2.818 -1.083 Td (D)Tj /T1_2 1 Tf 0.025 Tc -0.025 Tw -45.097 -1.083 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 -2.167 Td (Directors)Tj /T1_0 1 Tf 0 Tw 0 -1.083 TD (Tang Guoqiang)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 -1.083 Td (Shi Jianmin)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 -1.083 Td (Zhang Weihua)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 -1.083 Td (Xu Congcai)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 -1.083 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 -1.083 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 -1.083 Td (Employees)Tj 11.298 0 Td (11,200)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 (11,200)Tj 5.924 0 Td (3,900)Tj 0 Tc 0 Tw 7.22 0 Td (\226)Tj 0.025 Tc -0.025 Tw 3.549 0 Td (5,800)Tj 5.399 0 Td (1,500)Tj ET q 1 0 0 1 141.7323 509.1642 cm 0 0 m 34.016 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 136.063 508.9312 Tm ( )Tj ET q 1 0 0 1 187.0867 509.1642 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 181.4174 508.9312 Tm ( )Tj ET q 1 0 0 1 232.441 509.1642 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 226.7717 508.9312 Tm ( )Tj ET q 1 0 0 1 277.7953 509.1642 cm 0 0 m 33.766 0 l S Q BT 0.1 0 0 0.1 272.126 508.9312 Tm ( )Tj ET q 1 0 0 1 323.3997 509.1642 cm 0 0 m 33.516 0 l S Q BT 0.1 0 0 0.1 317.7304 508.9312 Tm ( )Tj ET q 1 0 0 1 368.754 509.1642 cm 0 0 m 33.766 0 l S Q BT 0.1 0 0 0.1 363.0847 508.9312 Tm ( )Tj ET q 1 0 0 1 413.8583 509.1642 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 408.189 508.9312 Tm ( )Tj ET q 1 0 0 1 459.2126 509.1642 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 453.5434 508.9312 Tm ( )Tj ET q 1 0 0 1 504.567 509.1642 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 498.8977 508.9312 Tm ( )Tj 0.025 Tc -0.025 Tw 8.4 0 0 12 56.6929 484.9542 Tm (Total)Tj 11.298 0 Td (12,400)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 (12,400)Tj 5.924 0 Td (3,900)Tj 6.17 0 Td (800)Tj 4.599 0 Td (6,200)Tj 5.399 0 Td (1,500)Tj ET 1.11 w q 1 0 0 1 141.7323 481.0972 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 141.7323 478.9972 cm 0 0 m 34.016 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 136.063 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 187.0867 481.0972 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 187.0867 478.9972 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 181.4174 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 232.441 481.0972 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 232.441 478.9972 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 226.7717 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 277.7953 481.0972 cm 0 0 m 33.766 0 l S Q 0.45 w q 1 0 0 1 277.7953 478.9972 cm 0 0 m 33.766 0 l S Q BT 0.1 0 0 0.1 272.126 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 323.3997 481.0972 cm 0 0 m 33.516 0 l S Q 0.45 w q 1 0 0 1 323.3997 478.9972 cm 0 0 m 33.516 0 l S Q BT 0.1 0 0 0.1 317.7304 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 368.754 481.0972 cm 0 0 m 33.766 0 l S Q 0.45 w q 1 0 0 1 368.754 478.9972 cm 0 0 m 33.766 0 l S Q BT 0.1 0 0 0.1 363.0847 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 413.8583 481.0972 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 413.8583 478.9972 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 408.189 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 459.2126 481.0972 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 459.2126 478.9972 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 453.5434 478.6692 Tm ( )Tj ET 1.11 w q 1 0 0 1 504.567 481.0972 cm 0 0 m 34.016 0 l S Q 0.45 w q 1 0 0 1 504.567 478.9972 cm 0 0 m 34.016 0 l S Q BT 0.1 0 0 0.1 498.8977 478.6692 Tm ( )Tj 0.024 Tc 12 0 0 12 56.693 451.2231 Tm [(Share Options A: Grant on 14 January 2010, exercisable from grant date u\ntil 13 January 2020)-1 ( )]TJ 0.025 Tc 0 -1.167 TD (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 2019, no share options were exercised\.)Tj ET endstreamendobj40 0 obj<>endobj38 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 24.0557 Tm (\226 18 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (DETAILS OF FUTURE PLANS FOR MATERIAL INVESTMENT OR CAPITAL )Tj -0.025 Tw 0 -1.167 TD (ASSETS)Tj /T1_0 1 Tf 0.072 Tc 0.07 Tw 0 -2.333 TD [(Save)12.5 ( as)12.5 ( disclosed)12.5 ( in)12.4 ( the)12.5 ( Company\222s)12.5 ( announcement)12.5 ( dated)12.5 ( 1)12.5 (0)12.5 ( July)12.5 ( 2)12.5 (0)12.5 (1)12.5 (9)12.5 ( regarding)12.5 ( the)47 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.167 TD [(establishment)10 ( )0.5 (of)10 ( )0.5 (two)10 ( )0.5 (new)10 ( )0.5 (production)10 ( )0.5 (lines)10 ( )0.5 (in)10 ( )0.5 (our)10 ( )0.5 (Dazhou)10 ( )0.5 (Plant)10 ( )0.5 (and)10 ( )0.5 (Guangan)10 ( )0.5 (Plant)10 ( )0.5 (and)10 ( )0.5 (the)10 ( )]TJ 0.025 Tc 0.008 Tw T* (Company\222s annual report of 2018 regarding the 20,000 tonnes-per-year \anthraquinone project, )Tj 0 Tw 0 -1.167 TD (there is no other material investment plans.)Tj /T1_1 1 Tf 0 -2.333 TD (EMPLOYEE INFORMATION)Tj /T1_0 1 Tf 0.022 Tw 0 -2.333 TD (As at 30 June 2019, the Group had a total workforce of 665 \(2018: 771\)\, of which 3 \(2018: 5\) )Tj 0.064 Tw 0 -1.167 TD (were responsible for management, 104 \(2018: 92\) for finance and admini\stration, 546 \(2018: )Tj 0.051 Tc 0.07 Tw 0 -1.167 TD [(6)12.9 (2)12.9 (7)12.9 (\))13 ( for)13 ( produc)0.5 (tion)13 ( and)12.9 ( )0.5 (1)12.9 (2)12.9 ( \()12.9 (2)12.9 (0)13 (1)12.9 (8)12.9 (:)12.9 ( 4)12.9 (7)13 (\))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 (6)12.9 (6)12.9 (3)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (\(2018: 769\) were stationed in the PRC and 2 \(2018: 2\) 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 (9)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 RMB494,926,000 \(2018: RMB262,471,000\), 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 (B1,529,045,000 \(2018: R)-12.4 (M)-12.3 (B1,856,133,000\) a)-12.3 (n)-12.4 (d b)-12.4 (a)-12.3 (n)-12.4 (k)6 ( )]TJ 0.064 Tc T* [(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 (B28,839,000 \(2018: R)-12.4 (M)-12.3 (B16,828,000\) 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 0 -1.167 TD (collateral for the Group\222s bank loans and notes payable.)Tj /T1_1 1 Tf 0 -2.333 TD (FOREIGN EXCHANGE EXPOSURE)Tj /T1_0 1 Tf 0.027 Tc 0.081 Tw 0 -2.333 TD [(The)2 ( )0.5 (Group)2 ( )0.5 (exposes)2 ( to)2 ( )0.5 (foreign)2 ( )0.5 (exchange)2 ( )0.5 (risks)2 ( )0.5 (as)2 ( )0.5 (certain)2 ( )0.5 (portion)2 ( )0.5 (of)2 ( )0.5 (loans)2 ( )0.5 (are)2 ( )0.5 (denominated)2 ( )0.5 (in)2 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.167 TD (foreign currencies, primarily with respect to the HK dollar. The managem\ent monitors foreign )Tj 0.003 Tw 0 -1.167 TD (exchange exposure and will consider hedging significant foreign currency\ exposure should the )Tj 0 Tw 0 -1.167 TD (need arises.)Tj /T1_1 1 Tf 0 -2.333 TD (SHARE OPTION SCHEME)Tj /T1_0 1 Tf 0.044 Tc 0.071 Tw 0 -2.333 TD [(On)12 ( )0.6 (1)12 (8)12.1 ( )0.6 (September)12 ( )0.6 (2)12 (0)12.1 (0)12.1 (8)12 (,)12.1 ( )0.5 (the)12.1 ( )0.6 (Company)12.1 ( )0.6 (adopted)12.1 ( )0.5 (a)12.1 ( )0.6 (share)12.1 ( )0.6 (options)12 ( )0.6 (scheme)12.1 ( )0.6 (\(the)12.1 ( )0.6 (\223Share)12.1 ( )0.5 (Option)19 ( )]TJ 0.062 Tc 0.07 Tw 0 -1.167 TD [(Scheme\224\).)12.6 ( The)12.7 ( details)12.6 ( of)12.7 ( the)12.6 ( Share)12.6 ( Option)12.7 ( Scheme)12.6 ( can)12.6 ( be)12.6 ( found)12.6 ( in)12.6 ( the)12.7 ( circular)12.6 ( of)12.6 ( the)37 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD [(C)0.5 (o)0.6 (m)0.5 (p)0.5 (a)0.6 (n)0.5 (y)0.5 ( )0.5 (d)0.6 (a)0.5 (t)0.5 (e)0.6 (d)0.5 ( )0.5 (2)0.5 (9)0.6 ( )0.5 (A)0.5 (u)0.6 (g)0.5 (u)0.5 (s)0.5 (t)0.6 ( )0.5 (2)0.5 (0)0.5 (0)0.6 (8)0.5 (.)0.5 ( )0.5 (T)0.6 (h)0.5 (e)0.5 ( )0.6 (S)0.5 (h)0.5 (a)0.6 (r)0.5 (e)0.5 ( )0.6 (O)0.5 (p)0.5 (t)0.6 (i)0.5 (o)0.5 (n)0.5 ( )0.6 (S)0.5 (c)0.5 (h)0.5 (e)0.6 (m)0.5 (e)0.6 ( )0.5 (h)0.5 (a)0.5 (d)0.6 ( )0.5 (b)0.5 (e)0.5 (e)0.6 (n)0.5 ( )0.6 (e)0.5 (x)0.5 (p)0.5 (i)0.6 (r)0.5 (e)0.5 (d)0.6 ( )0.5 (o)0.5 (n)0.5 ( )0.6 (1)0.5 (7)0.5 ( )0.5 (S)0.6 (e)0.5 (p)0.5 (t)0.6 (e)0.5 (m)0.5 (b)0.5 (e)0.6 (r )]TJ -0.025 Tw T* (2018.)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 17 \226)Tj /T1_1 1 Tf -18.766 58.583 Td (CAPITAL COMMITMENTS)Tj /T1_0 1 Tf 0.062 Tc 0.07 Tw 0 -2.333 TD [(As)12.7 ( at)12.8 ( 3)12.7 (0)12.7 ( June)12.7 ( 2)12.7 (0)12.7 (1)12.7 (9)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 (RMB120,230,000.)Tj /T1_1 1 Tf 0 Tw 0 -2.333 TD (FINANCIAL RESOURCES)Tj /T1_0 1 Tf 0.031 Tw 0 -2.333 TD (As at 30 June 2019, the Group had cash and bank balances of approximatel\y RMB37,101,000 )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 0 -1.167 TD (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 0 -2.333 TD [(The)12.8 ( Group\222s)12.8 ( gearing)12.7 ( ratios)12.8 ( were)12.8 ( 7)12.7 (9)12.8 (%)12.8 ( and)12.7 ( 7)12.8 (8)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 (9)12.8 ( and)12.7 ( 3)12.8 (1)12.7 ( December)12.7 ( 2)12.8 (0)12.7 (1)12.8 (8)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 2019.)Tj /T1_1 1 Tf T* (MATERIAL ACQUISITIONS/DISPOSALS)Tj /T1_0 1 Tf 0 -2.333 TD (The Group had no material acquisitions/disposals during the six months e\nded 30 June 2019.)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 T* [(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 (0)13 ( J)0.5 (u)0.5 (ly)13 ( )0.5 (2)12.9 (0)13 (1)13 (9)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 ( \(the)64 ( )]TJ 0.025 Tc 0.061 Tw T* [(\223Subscriber\224\), )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$987,000,000 with )Tj 0.04 Tc 0.07 Tw 0 -1.167 TD [(an)12.6 ( initial)12.5 ( conversion)12.5 ( price)12.5 ( of)12.5 ( HK$)12.6 (0)12.5 (.)12.5 (1)12.6 (4)12.5 (1)12.5 (,)12.5 ( 5)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 T* [(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 0 -1.167 TD [(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 T* (extraordinary general meeting expected to be held in the second half of \2019.)Tj /T1_1 1 Tf 0 -2.333 TD (SEGMENTAL INFORMATION)Tj /T1_0 1 Tf 0.083 Tw T* [(The )0.5 (Group\222s )0.5 (activities )0.5 (are )0.5 (primarily conducted )0.5 (in )0.5 (the )0.5 (PRC )0.5 (and are )0.5 (within )0.5 (the )0.5 (same )0.5 (business )]TJ 0 Tw 0 -1.167 TD (segment. Therefore, no segmental information was presented for the six m\onths ended 30 June )Tj -0.025 Tw T* (2019.)Tj ET endstreamendobj33 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 0.068 Tc 0.07 Tw -18.766 58.583 Td [(2)43 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(Adhere)12.4 ( to)12.5 ( the)12.5 ( goal)12.4 ( of)12.4 ( \223reduction)12.4 ( of)12.4 ( losses)12.5 ( for)12.5 ( the)12.5 ( year\224,)12.5 ( continue)12.4 ( to)12.5 ( promote)12.5 ( the)43 ( )]TJ 0.049 Tc 0 -1.167 TD [(implementation)12.5 ( of)12.4 ( various)12.5 ( measures)12.4 ( of)12.5 ( \223opening)12.5 ( source)12.5 ( while)12.4 ( reducing)12.4 ( expenditure,)24 ( )]TJ 0.063 Tc T* [(c)0.6 (u)0.5 (t)0.5 (t)0.6 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (c)0.6 (o)0.5 (s)0.6 (t)0.5 (s)13 ( )0.6 (w)0.6 (h)0.5 (i)0.5 (l)0.6 (e)13 ( )0.6 (i)0.5 (n)0.6 (c)0.5 (r)0.6 (e)0.5 (a)0.6 (s)0.5 (i)0.5 (n)0.6 (g)13 ( )0.6 (e)0.5 (f)0.6 (f)0.5 (i)0.6 (c)0.5 (i)0.6 (e)0.5 (n)0.5 (c)0.6 (y)0.5 (\224)13.1 ( )0.5 (t)0.6 (o)13 ( )0.6 (r)0.5 (e)0.6 (d)0.5 (u)0.5 (c)0.6 (e)13 ( )0.6 (o)0.5 (p)0.6 (e)0.5 (r)0.6 (a)0.5 (t)0.6 (i)0.5 (n)0.5 (g)13.1 ( )0.5 (c)0.6 (o)0.5 (s)0.6 (t)0.5 (s)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.6 (c)0.5 (a)0.6 (s)0.5 (h)13.1 ( )0.5 (f)0.6 (l)0.5 (o)0.5 (w)38 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.167 TD (expenses.)Tj 0.006 Tw -1.89 -2.333 Td (3.)Tj /Span<>> BDC ( )Tj EMC 1.89 0 Td (Our sales team seize quality core end client, explore market potential a\nd expand the base )Tj 0.075 Tw T* (of end client to increase local sales volume and the number of sales reg\ions with higher )Tj 0 Tw 0 -1.167 TD (pricing potential.)Tj 0.032 Tc 0.076 Tw -1.89 -2.333 Td [(4)7 (.)]TJ /Span<>> BDC 0.8 0 Td ( )Tj EMC 1.09 0 Td [(Actively)6.9 ( )0.5 (seek)7 ( )0.5 (collaborative)7 ( )0.5 (funds)7 ( )0.5 (to)7 ( )0.5 (promote)7 ( )0.5 (the)7 ( )0.5 (approval,)7 ( )0.5 (start-up)7 ( )0.5 (and)7 ( )0.5 (construction)7 ( )0.5 (of)7 ( )]TJ 0.025 Tc 0 Tw T* (new projects.)Tj /T1_1 1 Tf -0.025 Tw -1.89 -2.333 Td (Appreciation)Tj /T1_0 1 Tf 0.049 Tw 0 -2.333 TD (The past six months saw the fluctuation of chemical fertilizer and chemi\cal industries. Under )Tj 0.063 Tw 0 -1.167 TD (the leadership of the Board and our management, and the dedication of th\e staff, we adhered )Tj 0.042 Tw 0 -1.167 TD (to a market-oriented approach in our production and operation, followed \up market trend in a )Tj 0.051 Tc 0.07 Tw T* [(timely)12.4 ( manner)12.4 ( and)12.4 ( conducted)12.3 ( real-time)12.4 ( calculation,)12.4 ( so)12.4 ( as)12.4 ( to)12.4 ( ascertain)12.4 ( the)12.3 ( best)12.4 ( operation)26 ( )]TJ 0.025 Tc 0.071 Tw 0 -1.167 TD [(effectiveness of our )0.5 (facilities. )0.5 (The stable long-term operation )0.5 (of facilities was also achieved. )]TJ 0.045 Tw 0 -1.167 TD (For the second half of the year, with decisions and strategies devised b\y the Board and under )Tj 0.037 Tc 0.071 Tw T* [(the)12 ( )0.5 (leadership)12 ( )0.5 (of)12 ( )0.5 (the)12 ( )0.5 (management,)12 ( )0.5 (we)12 ( )0.5 (will)12 ( )0.5 (successfully)12 ( )0.5 (stabilize)12 ( )0.5 (the)12 ( )0.5 (fundamental)12 ( )0.5 (chemical)12 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.167 TD (business, develop the refined chemical industry, capitalize on market op\portunities, and strive )Tj 0 Tw 0 -1.167 TD (to create more value for the Company.)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 T* (you for your commitment and contribution. We will strive to bring more b\enefits and returns )Tj 0 Tw 0 -1.167 TD (to our shareholders and the society.)Tj /T1_1 1 Tf 0 -2.333 TD (LIQUIDITY, FINANCIAL RESOURCES AND CAPITAL STRUCTURE)Tj /T1_0 1 Tf 0.024 Tc 0 -2.333 TD [(As at 30 June 2019, the Group had net current liabilities of approximate\ly RMB1,358,545,000.)-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 (9)12.9 ( comprised)12.9 ( cash)12.9 ( and)12.9 ( bank)12.9 ( deposits)12.9 ( of)13 ( approximately)39 ( )]TJ 0.046 Tc 0 -1.167 TD [(RMB)12.8 (3)12.7 (7)12.8 (,)12.7 (1)12.8 (0)12.7 (1)12.8 (,)12.8 (0)12.7 (0)12.8 (0)12.7 (,)12.8 ( pledged)12.7 ( bank)12.8 ( deposits)12.7 ( of)12.8 ( approximately)12.8 ( RMB)12.7 (2)12.8 (8)12.7 (,)12.8 (8)12.7 (3)12.8 (9)12.7 (,)12.8 (0)12.7 (0)12.8 (0)12.8 (,)12.7 ( inventories)12.8 ( of)21 ( )]TJ 0.122 Tc 0 -1.167 TD [(approximately)12.5 ( RMB)12.4 (7)12.5 (6)12.4 (,)12.5 (7)12.4 (7)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 T* [(RMB)12.5 (1)12.6 (5)12.5 (9)12.6 (,)12.5 (2)12.5 (4)12.6 (2)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 (9)12.5 ( comprised)12.6 ( short-term)12.5 ( loans)12.6 ( of)36 ( )]TJ 0.068 Tc 0 -1.167 TD [(ap)0.5 (pr)0.5 (ox)0.5 (ima)0.5 (te)0.5 (ly)13 ( R)0.5 (MB)13 (9)12.9 (5)13 (1)12.9 (,)12.9 (6)13 (5)12.9 (4)13 (,)12.9 (0)12.9 (0)13 (0)12.9 (,)13 ( c)0.5 (ur)0.5 (ren)0.5 (t)12.9 ( )0.5 (po)0.5 (rti)0.5 (on)13 ( o)0.5 (f)12.9 ( )0.5 (lon)0.5 (g)12.9 ( )0.5 (te)0.5 (rm)13 ( lo)0.5 (an)0.5 (s)12.9 ( )0.5 (of)13 ( a)0.5 (ppr)0.5 (ox)0.5 (im)0.5 (ate)0.5 (ly)43 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (RMB199,950,000, trade and other payables of approximately RMB508,894,000\.)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>>endobj61 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 0.057 Tc 0.07 Tw -18.766 58.583 Td [(According)12.4 ( to)12.4 ( the)12.4 ( statistics)12.4 ( of)12.5 ( Sublime)12.4 ( China)12.5 ( Information,)12.4 ( in)12.5 ( 2)12.5 (0)12.4 (1)12.4 (9)12.5 (,)12.4 ( the)12.5 ( total)12.5 ( production)32 ( )]TJ 0.046 Tc 0 -1.167 TD [(capacity)12.3 ( of)12.4 ( synthetic)12.3 ( ammonia)12.3 ( in)12.4 ( the)12.4 ( PRC)12.3 ( amounted)12.4 ( to)12.3 ( 6)12.3 (6)12.4 (.)12.3 (8)12.4 (9)12.3 ( million)12.3 ( tonnes,)12.3 ( with)12.4 ( newly)21 ( )]TJ 0.039 Tc T* [(acquired)12.4 ( production)12.4 ( capacity)12.4 ( of)12.4 ( 0)12.4 (.)12.3 (6)12.4 ( million)12.4 ( tonnes)12.4 ( from)12.4 ( January)12.4 ( to)12.4 ( June.)12.4 ( Total)12.4 ( production)14 ( )]TJ 0.043 Tc 0 -1.167 TD [(volume)12.2 ( of)12.2 ( synthetic)12.2 ( ammonia)12.2 ( from)12.1 ( January)12.2 ( to)12.2 ( June)12.2 ( 2)12.2 (0)12.2 (1)12.1 (9)12.2 ( was)12.2 ( about)12.2 ( 2)12.2 (5)12.2 (.)12.1 (3)12.2 (0)12.2 ( million)12.1 ( tonnes,)17.9 ( )]TJ 0.078 Tc 0 -1.167 TD [(representing)12.1 ( a)12.1 ( year-on-year)12.1 ( decrease)12.1 ( of)12.1 ( approximately)12 ( 8)12.1 (%.)12.1 ( Due)12.1 ( to)12.1 ( the)12.1 ( effect)12.1 ( of)12 ( the)53 ( )]TJ 0.025 Tc 0.066 Tw T* (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 0 -1.167 TD (demonstrated a slight decline in the first half of 2019. As for downstre\am segments, affected )Tj 0.001 Tw T* (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 0 -1.167 TD [(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 T* [(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 0.041 Tc 0.07 Tw 0 -2.333 TD [(In)12.6 ( the)12.6 ( second)12.6 ( half)12.6 ( of)12.6 ( 2)12.6 (0)12.6 (1)12.6 (9)12.6 (,)12.6 ( the)12.6 ( price)12.6 ( fluctuation)12.6 ( in)12.6 ( synthetic)12.6 ( ammonia)12.6 ( market)12.6 ( will)12.5 ( still)12.6 ( be)16.1 ( )]TJ 0.042 Tc 0 -1.167 TD [(a)0.5 (pp)0.5 (ar)0.5 (en)0.5 (t.)13 ( U)0.5 (nd)0.5 (er)13 ( t)0.5 (he)13 ( )0.5 (im)0.5 (pa)0.5 (ct)13 ( o)0.5 (f)12.9 ( )0.5 (pr)0.5 (od)0.5 (uc)0.5 (ti)0.5 (on)13 ( l)0.5 (im)0.5 (it)0.5 (at)0.5 (io)0.5 (n)12.9 ( a)0.5 (n)0.5 (d)12.9 ( )0.5 (tr)0.5 (an)0.5 (sf)0.5 (or)0.5 (ma)0.5 (ti)0.5 (on)13 ( f)0.5 (or)13 ( e)0.5 (nv)0.5 (ir)0.5 (on)0.5 (me)0.5 (nt)0.5 (al)17.1 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.167 TD [(protection,)11 ( )0.5 (and)11 ( )0.5 (restricted)11 ( )0.5 (gas)11 ( )0.5 (production)11 ( )0.5 (for)11.1 ( )0.5 (rotation,)11 ( )0.5 (the)11.1 ( )0.5 (supply)10.9 ( )0.6 (of)11 ( )0.5 (ammonia)11 ( )0.6 (in)11 ( )0.5 (the)11 ( )0.5 (market)11 ( )]TJ 0.025 Tc 0.064 Tw T* (will change frequently and will affect the price. For the main positive \factors, the equipment )Tj 0.021 Tw 0 -1.167 TD (of the downstream demand side will resume production in the short term, \and the downstream )Tj 0.013 Tw 0 -1.167 TD [(projects of Inner Mongolia Qinghua )0.5 (\()]TJ /C0_0 1 Tf -0.025 Tw <02AB1086031A11450D36>Tj /T1_0 1 Tf 0.013 Tw [(\) and )0.5 (Chongqing Yuxiang Chemical )0.5 (\()]TJ /C0_0 1 Tf -0.025 Tw <0820114506EF>Tj 0.056 Tc -0.056 Tw T* <0D1C02B70288>Tj /T1_0 1 Tf 0.069 Tc 0.07 Tw [(\))12.8 ( have)12.8 ( been)12.8 ( put)12.8 ( into)12.8 ( production.)12.8 ( The)12.8 ( overall)12.8 ( operating)12.7 ( rate)12.8 ( of)12.8 ( the)12.8 ( downstream)44 ( )]TJ 0.042 Tc 0 -1.167 TD [(phosphate)12.8 ( compound)12.8 ( fertilizer)12.8 ( will)12.8 ( increase)12.9 ( as)12.9 ( compared)12.8 ( to)12.8 ( the)12.9 ( first)12.9 ( half)12.8 ( of)12.9 ( the)12.9 ( year)12.9 ( after)17 ( )]TJ 0.057 Tc 0 -1.167 TD [(October.)12.7 ( Before)12.7 ( the)12.7 ( 7)12.7 (0)12.6 (th)12.7 ( anniversary)12.6 ( of)12.6 ( the)12.7 ( founding)12.7 ( of)12.7 ( the)12.7 ( PRC,)12.6 ( domestic)12.7 ( controlling)32 ( )]TJ 0.023 Tc 0 Tw T* [(measures regarding environmental pollution may be carried out intensivel\y, and the production)-2 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.167 TD (capacity of manufacturing enterprises will be reduced. 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It is )Tj 0.019 Tw 0 -1.167 TD (expected that the urea market in the PRC will show a trend of drop and r\ise in the second half )Tj 0.041 Tc 0.07 Tw 0 -1.167 TD [(of)12.8 ( the)12.8 ( year.)12.7 ( From)12.8 ( July)12.7 ( to)12.7 ( August,)12.8 ( although)12.7 ( the)12.8 ( support)12.7 ( from)12.8 ( the)12.8 ( rigid)12.8 ( domestic)12.8 ( demand)12.7 ( is)16 ( )]TJ 0.054 Tc T* [(limited,)12.6 ( some)12.6 ( enterprises)12.6 ( will)12.5 ( take)12.6 ( turns)12.6 ( to)12.6 ( carry)12.6 ( out)12.5 ( inspection)12.6 ( and)12.6 ( maintenance)12.6 ( in)12.6 ( the)29 ( )]TJ 0.025 Tc 0.081 Tw 0 -1.167 TD (summer, resulting in fluctuation in prices that may last to mid-to-late \September. Before the )Tj 0.06 Tc 0.07 Tw 0 -1.167 TD [(7)12.9 (0)13 (th)13 ( a)0.5 (nni)0.5 (ve)0.5 (rs)0.5 (ar)0.5 (y)12.9 ( )0.5 (of)13 ( th)0.5 (e)12.9 ( )0.5 (fo)0.5 (und)0.5 (in)0.5 (g)12.9 ( )0.5 (of)12.9 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (PR)0.5 (C,)12.9 ( )0.5 (do)0.5 (me)0.5 (st)0.5 (ic)13 ( c)0.5 (ont)0.5 (ro)0.5 (lli)0.5 (ng)13 ( me)0.5 (a)0.5 (sur)0.5 (e)0.5 (s)12.9 ( r)0.5 (eg)0.5 (ar)0.5 (di)0.5 (ng)35 ( )]TJ 0.057 Tc T* [(environmental)12.2 ( pollution)12.3 ( may)12.3 ( be)12.3 ( carried)12.3 ( out)12.2 ( intensively,)12.3 ( and)12.3 ( the)12.4 ( production)12.3 ( capacity)12.3 ( of)32 ( )]TJ 0.025 Tc 0.035 Tw 0 -1.167 TD (manufacturing enterprises may be reduced, which will facilitate the rebo\und of prices. On the )Tj 0.072 Tc 0.07 Tw 0 -1.167 TD [(demand)12.8 ( side,)12.8 ( the)12.8 ( launch)12.7 ( of)12.8 ( the)12.8 ( autumn)12.8 ( fertilizer,)12.8 ( coupled)12.8 ( with)12.8 ( the)12.8 ( arrival)12.8 ( of)12.8 ( the)12.8 ( gas)47 ( )]TJ 0.025 Tc 0.077 Tw T* (maintenance season in the fourth quarter, the spread of information will\ continue to push up )Tj 0 Tw 0 -1.167 TD (the price.)Tj 0.028 Tc 0.08 Tw 0 -2.333 TD [(According)3 ( )0.5 (to)3 ( )0.5 (the)3 ( )0.5 (statistics)3 ( )0.6 (from)3 ( )0.5 (Nanhua)3 ( )0.6 (Futures,)3 ( )0.5 (the)3 ( )0.5 (production)3 ( )0.5 (capacity)3 ( )0.5 (of)3 ( )0.5 (methanol)3 ( )0.5 (in)3 ( )0.5 (the)3 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.167 TD [(P)0.6 (R)0.5 (C)6 ( )0.5 (h)0.6 (a)0.6 (s)6 ( )0.5 (r)0.5 (e)0.6 (a)0.6 (c)0.5 (h)0.6 (e)0.6 (d)6 ( )0.5 (o)0.5 (v)0.6 (e)0.5 (r)6 ( )0.6 (8)6 (8)6 ( )0.5 (m)0.5 (i)0.6 (l)0.5 (l)0.6 (i)0.5 (o)0.6 (n)6 ( )0.5 (t)0.5 (o)0.6 (n)0.6 (n)0.5 (e)0.6 (s)0.5 (,)6 ( )0.6 (o)0.5 (f)6 ( )0.5 (w)0.6 (h)0.5 (i)0.6 (c)0.6 (h)6 ( )0.5 (8)6 ( )0.5 (m)0.5 (i)0.6 (l)0.5 (l)0.6 (i)0.5 (o)0.6 (n)6 ( )0.5 (t)0.6 (o)0.5 (n)0.6 (n)0.5 (e)0.6 (s)6 ( )0.5 (o)0.5 (f)6.1 ( )0.5 (c)0.5 (a)0.6 (p)0.6 (a)0.5 (c)0.6 (i)0.6 (t)0.5 (y)6 ( )0.5 (w)0.6 (e)0.5 (r)0.6 (e)6 ( )0.5 (n)0.6 (e)0.6 (w)0.5 (l)0.6 (y)6 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.167 TD [(added)2 ( )0.5 (in)2 ( )0.5 (the)2 ( first)2 ( )0.5 (half)2 ( )0.5 (of)1.9 ( )0.5 (2)2 (0)2 (1)2 (9)2 (.)2 ( )0.5 (The)2 ( )0.5 (PRC\222s)2 ( )0.5 (total)2 ( )0.5 (methanol)2 ( output)2 ( )0.5 (from)2 ( )0.5 (January)2 ( )0.5 (to)2 ( )0.5 (June)2 ( )0.5 (2)2 (0)2 (1)2 (9)2 ( )]TJ 0.025 Tc 0.045 Tw T* [(amounted to )0.5 (52 )0.5 (million )0.5 (tonnes. The )0.5 (average )0.5 (operation )0.5 (rate of )0.5 (the )0.5 (domestic methanol )0.5 (industry )]TJ 0.031 Tc 0.077 Tw 0 -1.167 TD [(recorded)6 ( )0.5 (an)6 ( )0.5 (increase)6 ( )0.5 (of)6 ( )0.5 (3)6 (.)6 (4)6 (9)6 (%,)6 ( )0.5 (representing)6 ( )0.5 (a)6.1 ( )0.5 (rise)6 ( )0.5 (of)6 ( )0.5 (5)6 (.)6 (2)6 (1)6 (%)6 ( )0.5 (over)6 ( )0.5 (the)6 ( )0.5 (same)6.1 ( )0.5 (period)6 ( )0.5 (last)6 ( )0.5 (year.)6 ( )]TJ 0.025 Tc 0.069 Tw 0 -1.167 TD (The average operating rate in the northwest region from January to June \increased by 7.98% )Tj 0.027 Tc 0.081 Tw T* [(compared)2 ( )0.5 (with)2 ( )0.5 (the)2 ( )0.5 (same)2 ( )0.5 (period)2 ( )0.5 (of)2 ( last)2.1 ( year,)2.1 ( up)2 ( )0.5 (by)2 ( )0.5 (1)2 (0)2 (.)2 (7)2 (8)1.9 (%.)2.1 ( In)2 ( )0.5 (the)2 ( )0.5 (first)2 ( )0.5 (half)2 ( )0.5 (of)2 ( )0.5 (this)2 ( )0.5 (year,)2 ( the)2 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.167 TD [(import)12.1 ( from)12.1 ( January)12.1 ( to)12.1 ( June)12.1 ( was)12 ( 4)12.1 (.)12 (5)12.1 (9)12.1 (9)12 (9)12.1 ( million)12 ( tonnes,)12.1 ( an)12.1 ( increase)12.1 ( of)12.1 ( 2)12.1 (4)12 (%)12.1 ( over)12 ( the)12 ( same)13 ( )]TJ 0.055 Tc 0 -1.167 TD [(period)12.3 ( last)12.3 ( year.)12.2 ( In)12.3 ( respect)12.2 ( of)12.2 ( downstream)12.3 ( demand,)12.3 ( the)12.2 ( demand)12.3 ( continued)12.2 ( to)12.2 ( grow,)12.3 ( and)30 ( )]TJ 0.028 Tc 0.08 Tw T* [(emerging)3 ( )0.5 (downstream)3 ( )0.5 (MTO/P)3 ( )0.5 (accounts)3 ( )0.5 (for)3 ( )0.5 (nearly)3 ( )0.5 (half)3 ( )0.5 (of)3 ( )0.5 (total)3 ( )0.6 (demand)3 ( )0.5 (for)3 ( )0.5 (methanol.)3 ( )0.5 (Under)3 ( )]TJ 0 -1.167 TD [(t)0.5 (h)0.5 (e)3 ( )0.5 (i)0.6 (m)0.5 (p)0.5 (a)0.5 (c)0.6 (t)3 ( )0.5 (o)0.5 (f)3 ( )0.5 (t)0.5 (h)0.5 (e)3.1 ( )0.5 (l)0.5 (o)0.5 (w)3 ( )0.5 (e)0.6 (f)0.5 (f)0.5 (i)0.5 (c)0.6 (i)0.5 (e)0.5 (n)0.5 (c)0.6 (y)3 ( )0.5 (o)0.5 (f)3 ( )0.5 (n)0.5 (e)0.6 (w)0.5 (l)0.5 (y)3 ( )0.5 (a)0.5 (d)0.5 (d)0.6 (e)0.5 (d)3 ( )0.5 (p)0.5 (r)0.6 (o)0.5 (d)0.5 (u)0.5 (c)0.5 (t)0.6 (i)0.5 (o)0.5 (n)3 ( )0.5 (c)0.5 (a)0.6 (p)0.5 (a)0.5 (c)0.5 (i)0.6 (t)0.5 (y)3 ( )0.5 (i)0.5 (n)3 ( )0.5 (t)0.5 (h)0.5 (e)3.1 ( )0.5 (P)0.5 (R)0.5 (C)0.5 (,)3 ( )0.6 (s)0.5 (a)0.5 (f)0.5 (e)0.6 (t)0.5 (y)3 ( )0.5 (a)0.5 (n)0.5 (d)3 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.167 TD [(environmental)5 ( )0.5 (inspection,)5 ( )0.5 (increased)5 ( )0.5 (methanol)5 ( )0.5 (imports)5.1 ( )0.5 (and)5 ( )0.5 (high)5 ( )0.5 (inventory)5 ( )0.5 (level)5 ( )0.5 (at)5 ( )0.5 (ports,)5 ( )0.5 (the)5 ( )]TJ 0.025 Tc 0.05 Tw T* (domestic methanol market fluctuated sharply with an overall volatile tre\nd in the first half of )Tj 0 Tw 0 -1.167 TD (the year.)Tj 0.056 Tw 0 -2.333 TD (The methanol market faces different challenges and opportunities in the \second half of 2019. )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 0 -1.167 TD [(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 0.025 Tc 0.051 Tw T* (Other factors include the weak demand of traditional downstream industry\ leading to the low )Tj 0.039 Tc 0.07 Tw 0 -1.167 TD [(clearance)12.8 ( level)12.7 ( of)12.8 ( inventory)12.7 ( within)12.8 ( the)12.8 ( upstream)12.7 ( industry,)12.8 ( the)12.8 ( macro-level)12.8 ( policy)12.7 ( changes,)14 ( )]TJ 0.067 Tc 0 -1.167 TD [(restriction)12.6 ( of)12.7 ( natural)12.6 ( gas)12.6 ( and)12.7 ( the)12.6 ( uncertainty)12.6 ( caused)12.7 ( by)12.7 ( the)12.7 ( volatile)12.6 ( crude)12.7 ( oil)12.6 ( market.)42 ( )]TJ 0.047 Tc T* [(M)0.5 (ea)0.5 (nw)0.5 (hil)0.5 (e,)13 ( o)0.5 (ppo)0.5 (rt)0.5 (un)0.5 (iti)0.5 (es)13 ( s)0.5 (te)0.5 (m)12.9 ( )0.5 (fr)0.5 (om)12.9 ( )0.5 (se)0.5 (ve)0.5 (ra)0.5 (l)12.9 ( )0.5 (ma)0.5 (jor)13 ( f)0.5 (av)0.5 (ou)0.5 (ra)0.5 (ble)13 ( )0.5 (fa)0.5 (cto)0.5 (rs)0.5 (,)12.9 ( )0.5 (wh)0.5 (ic)0.5 (h)12.9 ( )0.5 (inc)0.5 (lu)0.5 (de)0.5 (:)12.9 ( )0.5 (\()12.9 (1)12.9 (\))22 ( )]TJ 0.025 Tc 0.074 Tw 0 -1.167 TD (9 sets of new methanol-to-olefin plants will be launched; \(2\) the oper\ating rate of methanol-)Tj 0.052 Tc 0.07 Tw 0 -1.167 TD [(to-olefins)12.5 ( production)12.5 ( will)12.6 ( be)12.5 ( lowered;)12.6 ( and)12.5 ( \()12.6 (3)12.5 (\))12.5 ( the)12.5 ( proportion)12.5 ( of)12.5 ( methanol)12.5 ( fuels)12.5 ( has)12.5 ( also)27 ( )]TJ 0.053 Tc T* [(increased)12.6 ( under)12.7 ( the)12.7 ( influence)12.7 ( of)12.7 ( environmental)12.7 ( factors.)12.7 ( For)12.7 ( the)12.7 ( estimated)12.7 ( the)12.7 ( year)12.7 ( 2)12.7 (0)12.7 (1)12.7 (9)28 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.167 TD [(d)0.5 (e)0.6 (m)0.5 (a)0.6 (n)0.5 (d)5 ( )0.5 (s)0.6 (t)0.5 (r)0.6 (u)0.5 (c)0.6 (t)0.5 (u)0.5 (r)0.6 (e)0.5 (,)5 ( )0.5 (t)0.6 (h)0.5 (e)5 ( )0.5 (d)0.6 (e)0.5 (m)0.6 (a)0.5 (n)0.6 (d)5 ( )0.5 (f)0.5 (o)0.6 (r)5 ( )0.5 (m)0.5 (e)0.6 (t)0.5 (h)0.5 (a)0.6 (n)0.5 (o)0.6 (l)5 ( )0.5 (t)0.5 (o)5 ( )0.5 (o)0.6 (l)0.5 (e)0.6 (f)0.5 (i)0.5 (n)0.6 (s)5 ( )0.5 (p)0.5 (r)0.6 (o)0.5 (d)0.6 (u)0.5 (c)0.6 (t)0.5 (s)5 ( )0.5 (w)0.6 (i)0.5 (l)0.5 (l)5 ( )0.5 (i)0.6 (n)0.5 (c)0.6 (r)0.5 (e)0.6 (a)0.5 (s)0.6 (e)0.5 (d)5 ( )0.5 (s)0.6 (t)0.5 (e)0.6 (a)0.5 (d)0.6 (i)0.5 (l)0.6 (y)5 ( )0.5 (b)0.5 (y)5 ( )0.5 (a)0.5 (t)5.1 ( )]TJ 0 -1.167 TD [(l)0.5 (e)0.6 (a)0.6 (s)0.5 (t)5 ( )0.5 (m)0.6 (o)0.5 (r)0.6 (e)5 ( )0.5 (t)0.5 (h)0.6 (a)0.5 (n)5 ( )0.5 (h)0.6 (a)0.5 (l)0.6 (f)0.5 (.)5 ( )0.5 (D)0.6 (u)0.5 (e)5 ( )0.5 (t)0.6 (o)5 ( )0.5 (t)0.5 (h)0.6 (e)5 ( )0.5 (i)0.5 (m)0.6 (p)0.5 (a)0.6 (c)0.5 (t)5 ( )0.5 (o)0.6 (f)5 ( )0.5 (t)0.5 (h)0.6 (e)5 ( )0.5 (c)0.6 (o)0.5 (a)0.6 (l)5 ( t)0.6 (o)5 ( )0.5 (g)0.5 (a)0.6 (s)5 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (v)0.6 (e)0.6 (r)0.5 (s)0.6 (i)0.5 (o)0.6 (n)4.9 ( )0.6 (p)0.5 (o)0.5 (l)0.6 (i)0.5 (c)0.6 (y)0.5 (,)5 ( )0.5 (m)0.6 (e)0.5 (t)0.6 (h)0.5 (a)0.6 (n)0.5 (o)0.6 (l)5 ( )0.5 (f)0.5 (u)0.6 (e)0.5 (l)0.6 (,)5 ( )]TJ 0.043 Tc 0.07 Tw T* [(which)13 ( is)12.9 ( the)12.9 ( se)0.5 (cond)12.9 ( large)0.5 (st)12.9 ( deman)0.5 (d)12.9 ( for)12.9 ( metha)0.5 (nol,)12.9 ( will)12.9 ( c)0.5 (ontinue)12.9 ( to)12.9 ( inc)0.5 (rease)13 ( its)12.9 ( productio)0.5 (n)17.9 ( )]TJ 0.067 Tc 0 -1.167 TD [(capacity)12.9 ( for)12.9 ( expansion)12.9 ( into)12.9 ( a)12.9 ( larger)12.9 ( market)12.9 ( as)12.8 ( a)12.9 ( clean)12.9 ( energy.)12.9 ( In)12.9 ( summary,)12.9 ( under)12.9 ( )0.5 (the)42 ( )]TJ 0.038 Tc 0 -1.167 TD [(circumstance)12.8 ( where)12.9 ( the)12.8 ( negative)12.8 ( factors)12.8 ( have)12.8 ( led)12.8 ( to)12.8 ( ineffective)12.9 ( adjustment)12.8 ( to)12.8 ( prices)12.8 ( in)12.9 ( the)13 ( )]TJ 0.025 Tc 0.068 Tw T* (PRC, it is expected that the overall situation will remain an upward mov\ement in the second )Tj 0 Tw 0 -1.167 TD (half of the year.)Tj ET endstreamendobj59 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)12.9 ( since)12.9 ( 4)12.9 ( February)12.9 ( 2)12.8 (0)12.9 (1)12.9 (9)12.8 (.)12.9 ( The)12.9 ( Company)12.9 ( squeezed)12.8 ( the)12.9 ( most)12.9 ( out)12.8 ( of)12.9 ( the)12.9 ( limited)14 ( )]TJ 0.024 Tc 0 Tw 0 -1.167 TD [(supply of natural gas with reasonable adjustment of modes of production \and coordination)-1 ( )]TJ 0.059 Tc 0.07 Tw T* [(according)12.4 ( to)12.4 ( the)12.5 ( market)12.4 ( price)12.4 ( of)12.4 ( products.)12.5 ( Both)12.4 ( the)12.5 ( production)12.4 ( volume)12.5 ( and)12.4 ( energy)34 ( )]TJ 0.055 Tc 0 -1.167 TD [(consumption)12.6 ( of)12.6 ( methanol-ammonia)12.5 ( co-production)12.5 ( improved)12.5 ( over)12.6 ( the)12.5 ( corresponding)30 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.167 TD (period last year. The Company has achieved its goal to continuously oper\ate for the main )Tj 0 Tw T* (device in the first half of the year at Guangan Plant.)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 0.052 Tc 0.07 Tw 0 -2.333 TD [(Under)12.3 ( the)12.3 ( impact)12.3 ( of)12.3 ( the)12.4 ( supply)12.3 ( of)12.3 ( natural)12.3 ( gases,)12.3 ( the)12.3 ( facilities)12.4 ( at)12.3 ( Dazhou)12.4 ( Plant)12.3 ( have)27 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.167 TD [(r)0.5 (e)0.6 (s)0.5 (u)0.5 (m)0.5 (e)0.5 (d)5 ( )0.5 (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)0.5 (n)5 ( )0.5 (s)0.5 (i)0.5 (n)0.5 (c)0.6 (e)5 ( )0.5 (5)5 ( )0.5 (F)0.5 (e)0.5 (b)0.6 (r)0.5 (u)0.5 (a)0.5 (r)0.5 (y)5 ( )0.5 (2)5 (0)5 (1)5 (9)5 (.)5 ( )0.5 (U)0.6 (n)0.5 (d)0.5 (e)0.5 (r)5 ( )0.5 (t)0.5 (h)0.6 (e)5 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.6 (a)0.5 (n)0.5 (y)0.5 (\222)0.5 (s)5 ( )0.5 (d)0.6 (e)0.5 (l)0.5 (i)0.5 (c)0.5 (a)0.6 (t)0.5 (e)5 ( )0.5 (c)0.5 (o)0.5 (o)0.6 (r)0.5 (d)0.5 (i)0.5 (n)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)5 ( )]TJ 0.025 Tc 0.064 Tw T* (and operation, the facilities have been running smoothly and steadily. L\everaging on the )Tj 0.051 Tc 0.07 Tw 0 -1.167 TD [(instant)12.6 ( collection)12.7 ( of)12.6 ( information)12.6 ( on)12.6 ( the)12.6 ( production,)12.6 ( operation)12.6 ( and)12.6 ( market)12.7 ( as)12.6 ( well)12.6 ( as)26 ( )]TJ 0.041 Tc 0 -1.167 TD [(timely)12.2 ( adjustment)12.2 ( and)12.1 ( optimization)12.1 ( of)12.1 ( production)12.2 ( model,)12.1 ( our)12.2 ( production)12.2 ( capacity)12.2 ( and)16 ( )]TJ 0.025 Tc 0 Tw T* (efficiency were continuously enhanced.)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 0.042 Tc 0.07 Tw 0 -2.333 TD [(Affected)12.1 ( by)12.2 ( the)12.2 ( market)12.2 ( and)12.2 ( others)12.1 ( factors,)12.1 ( Guangan\222s)12.1 ( PPS)12.2 ( plant)12.2 ( was)12.2 ( suspended)12.2 ( in)12.2 ( its)17 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.167 TD (production.)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 (9)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 0 -1.167 TD [(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 0.025 Tc 0.058 Tw T* (expected to be 26.21 million tonnes, representing an increase of approxi\mately 1.428 million )Tj 0.043 Tc 0.07 Tw 0 -1.167 TD [(tonnes)12.7 ( from)12.6 ( 2)12.7 (4)12.6 (.)12.7 (7)12.6 (8)12.7 (2)12.7 ( million)12.7 ( tonnes)12.6 ( for)12.7 ( the)12.7 ( same)12.6 ( period)12.7 ( in)12.7 ( 2)12.6 (0)12.7 (1)12.7 (8)12.6 (,)12.7 ( up)12.7 ( by)12.7 ( 5)12.7 (.)12.7 (8)12.6 (%.)12.7 ( The)12.7 ( monthly)18 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.167 TD [(average)10 ( )0.5 (operating)10 ( )0.5 (rate)10.1 ( )0.5 (of)10 ( )0.5 (domestic)10 ( )0.5 (urea)10 ( )0.5 (enterprises)10 ( )0.5 (was)10.1 ( )0.5 (6)10 (4)10 (.)10 (5)10 (%)10 ( )0.5 (from)10 ( )0.5 (January)10 ( )0.5 (to)10 ( )0.5 (June.)10 ( )0.5 (From)10 ( )]TJ 0.025 Tc 0.069 Tw T* (January to June 2019, the amount of imported urea was 104,100 tonnes, re\presenting a year-)Tj 0.051 Tc 0.07 Tw 0 -1.167 TD [(on-year)12.5 ( decrease)12.5 ( of)12.5 ( 2)12.5 (5)12.6 (%,)12.5 ( while)12.6 ( the)12.5 ( amount)12.5 ( of)12.6 ( exported)12.5 ( urea)12.6 ( was)12.5 ( 1)12.5 (.)12.5 (6)12.5 (7)12.5 (4)12.5 (2)12.5 ( million)12.5 ( tonnes,)26 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (representing a year-on-year increase of 135%.)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 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 (9)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 0.074 Tc 0 -1.167 TD [(R)0.5 (M)0.6 (B)13 (9)13 (5)13.1 (4)13 ( )0.5 (m)0.5 (i)0.6 (l)0.5 (l)0.5 (i)0.6 (o)0.5 (n)0.5 (,)13 ( )0.6 (r)0.5 (e)0.5 (p)0.6 (r)0.5 (e)0.5 (s)0.6 (e)0.5 (n)0.6 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )0.6 (a)13 ( )0.6 (d)0.5 (e)0.5 (c)0.6 (r)0.5 (e)0.5 (a)0.6 (s)0.5 (e)13.1 ( )0.5 (o)0.5 (f)13 ( )0.6 (a)0.5 (p)0.5 (p)0.6 (r)0.5 (o)0.5 (x)0.6 (i)0.5 (m)0.5 (a)0.6 (t)0.5 (e)0.5 (l)0.6 (y)13 ( )0.5 (5)13 (2)13.1 (.)13 (1)13 (%)13.1 ( )0.5 (a)0.5 (s)13.1 ( )0.5 (c)0.5 (o)0.6 (m)0.5 (p)0.5 (a)0.6 (r)0.5 (e)0.5 (d)13.1 ( )0.5 (w)0.5 (i)0.6 (t)0.5 (h)49 ( )]TJ 0.046 Tc 0 -1.167 TD [(approximately)12.6 ( RMB)12.6 (1)12.6 (,)12.7 (9)12.6 (9)12.6 (3)12.7 ( million)12.6 ( for)12.7 ( the)12.6 ( corresponding)12.6 ( period)12.7 ( last)12.6 ( year.)12.7 ( The)12.6 ( decrease)12.7 ( in)21.1 ( )]TJ 0.051 Tc 0 -1.167 TD [(turnover)12.4 ( was)12.4 ( mainly)12.4 ( due)12.4 ( to)12.4 ( the)12.4 ( decrease)12.4 ( in)12.4 ( trading)12.4 ( portion)12.4 ( of)12.4 ( sales.)12.4 ( Loss)12.4 ( attributable)12.4 ( to)26 ( )]TJ 0.098 Tc T* [(shareholders)12.2 ( was)12.2 ( approximately)12.2 ( RMB)12.2 (3)12.1 (2)12.2 (8)12.2 (.)12.2 (3)12.1 ( million)12.2 ( \()12.2 (2)12.2 (0)12.1 (1)12.2 (8)12.2 (:)12.1 ( first)12.2 ( half)12.2 ( year)12.2 ( loss)12.2 ( of)73.1 ( )]TJ 0.069 Tc 0 -1.167 TD [(approximately)12.7 ( RMB)12.7 (1)12.8 (6)12.8 (1)12.7 (.)12.8 (0)12.7 ( million\),)12.8 ( representing)12.8 ( an)12.8 ( increase)12.8 ( of)12.8 ( loss)12.7 ( of)12.7 ( approximately)44 ( )]TJ 0.025 Tc 0.057 Tw 0 -1.167 TD (RMB167.3 million as compared with the corresponding period last year. Th\e increase in loss )Tj 0.008 Tw T* (was mainly due to an amount of RMB210.9 million provision made from the \valuation loss on )Tj 0.05 Tc 0.07 Tw 0 -1.167 TD [(the)12.1 ( convertible)12 ( bonds)12.1 ( that)12.1 ( issued)12.1 ( in)12 ( the)12.1 ( first)12.1 ( half)12.1 ( of)12 ( year)12.1 ( 2)12.1 (0)12.1 (1)12.1 (9)12.1 (.)12 ( Basic)12.1 ( loss)12.1 ( per)12.1 ( share)12.1 ( was)25 ( )]TJ 0.052 Tc 0 -1.167 TD [(approximately)12.2 ( RMB)12.2 (7)12.1 (.)12.2 (6)12.2 (4)12.2 ( fen)12.2 ( \()12.2 (2)12.2 (0)12.2 (1)12.1 (8)12.2 (:)12.2 ( first)12.2 ( half)12.2 ( year)12.2 ( basic)12.2 ( loss)12.2 ( per)12.2 ( share)12.2 ( of)12.2 ( approximately)27 ( )]TJ 0.025 Tc 0 Tw T* (RMB3.75 fen\).)Tj 0.068 Tw 0 -2.333 TD (During the period under review, the total sales volume \(excluding the t\rading portion\) of the )Tj 0.024 Tc 0 Tw 0 -1.167 TD [(Group reached approximately 471,127 tonnes \(2018: 354,782 tonnes\), rep\resenting an increase)-1 ( )]TJ 0.025 Tc 0 -1.167 TD (of 32.8% as compared with that of the corresponding period last year.)Tj 0.087 Tc 0.07 Tw 0 -2.333 TD [(For)12.6 ( the)12.6 ( period)12.6 ( under)12.6 ( review,)12.6 ( the)12.7 ( gross)12.6 ( profit)12.7 ( margin)12.7 ( of)12.6 ( the)12.7 ( Group)12.7 ( decreased)12.7 ( from)62 ( )]TJ 0.025 Tc 0.044 Tw 0 -1.167 TD (approximately 5.8% to 1.5% as compared with the corresponding period las\t year, which was )Tj 0.063 Tc 0.07 Tw 0 -1.167 TD [(mainly)12.5 ( due)12.5 ( to)12.5 ( the)12.5 ( decrease)12.6 ( in)12.5 ( selling)12.5 ( price)12.5 ( of)12.5 ( the)12.5 ( products.)12.5 ( Cost)12.5 ( of)12.5 ( sales)12.5 ( amounted)12.5 ( to)38 ( )]TJ 0.072 Tc T* [(approximately)12.8 ( RMB)12.8 ( 9)12.9 (3)12.8 (9)12.8 ( million,)12.9 ( representing)12.9 ( a)12.8 ( decrease)12.8 ( of)12.8 ( approximately)12.8 ( 4)12.8 (9)12.8 (.)12.9 (9)12.8 (%)12.8 ( as)47 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.167 TD [(compared)12 ( )0.5 (with)12.1 ( the)12 ( )0.6 (corresponding)12.1 ( )0.5 (period)12 ( )0.5 (last)12 ( )0.5 (year)12 ( )0.5 (due)12.1 ( )0.5 (to)12 ( )0.5 (the)12 ( )0.5 (decrease)12.1 ( )0.5 (in)12 ( )0.5 (trading)11.9 ( )0.5 (portion)12 ( )0.5 (of)12 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.167 TD [(sales.)7 ( )0.5 (Distribution)7 ( )0.5 (costs)7 ( )0.6 (decreased)7 ( )0.5 (by)7 ( )0.5 (approximately)7 ( )0.5 (8)7 (.)7 (4)7 (%)7 ( )0.5 (due)7 ( )0.6 (to)7 ( )0.5 (the)7 ( )0.5 (effective)7 ( )0.5 (cost)7 ( )0.5 (control.)7 ( )]TJ 0.065 Tc 0.07 Tw T* [(The)12.9 ( a)0.5 (dministrative)13 ( expense)0.5 (s)12.9 ( decre)0.5 (ased)12.9 ( by)12.9 ( a)0.5 (pp)0.5 (roximately)12.9 ( 6)13 (1)12.9 (.)12.9 (3)12.9 (%)12.9 ( as)12.9 ( c)0.5 (om)0.5 (pa)0.5 (red)12.9 ( wi)0.5 (th)12.9 ( the)40 ( )]TJ 0.025 Tc 0.059 Tw 0 -1.167 TD (corresponding period last year, due to the operation cost of Dazhou Plan\t and Guangan Plant )Tj 0.032 Tc 0.076 Tw 0 -1.167 TD [(charge)7 ( )0.5 (to)7 ( )0.5 (the)7 ( )0.5 (administrative)7 ( )0.5 (expenses)7 ( )0.5 (decreased)7 ( )0.5 (during)7 ( )0.5 (the)7 ( )0.5 (suspension)7 ( )0.5 (of)7 ( )0.5 (gas)7 ( )0.5 (in)7 ( )0.5 (winter,)7 ( )0.5 (the)7.1 ( )]TJ 0.028 Tc 0.08 Tw T* [(decreased)3 ( )0.5 (in)3 ( )0.5 (impairment)3 ( )0.5 (losses)3 ( )0.5 (on)3 ( )0.5 (equipment)3 ( )0.5 (and)3 ( )0.5 (the)3 ( )0.5 (effective)3 ( )0.5 (cost)3 ( )0.5 (control.)3 ( )0.5 (The)3 ( )0.5 (increase)3 ( )0.5 (in)3 ( )]TJ 0.044 Tc 0.07 Tw 0 -1.167 TD [(o)0.5 (t)0.5 (h)0.5 (e)0.5 (r)13 ( )0.5 (l)0.5 (o)0.5 (ss)13 ( )0.6 (of)13 ( )0.5 (R)0.5 (M)0.5 (B)13 (1)13 (7)13 (2)13 (.)13 (2)13 ( )0.5 (m)0.5 (i)0.5 (l)0.5 (l)0.5 (io)0.5 (n)13 ( )0.5 (a)0.5 (s)13 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (r)0.5 (e)0.5 (d)13 ( )0.5 (w)0.5 (i)0.5 (t)0.5 (h)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (c)0.5 (o)0.5 (r)0.5 (r)0.5 (e)0.5 (s)0.5 (po)0.5 (n)0.5 (d)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (p)0.5 (e)0.5 (r)0.5 (i)0.5 (o)0.5 (d)12.9 ( )0.5 (l)0.5 (a)0.6 (s)0.5 (t)12.9 ( )0.5 (y)0.5 (e)0.5 (a)0.5 (r)13 ( )0.5 (w)0.5 (a)0.5 (s)19.1 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.167 TD [(mainly)8 ( )0.5 (due)8.1 ( )0.5 (to)8 ( )0.5 (the)8 ( )0.5 (provision)8 ( )0.5 (with)8 ( )0.5 (an)8 ( )0.5 (amount)8 ( )0.5 (of)8 ( )0.6 (RMB)8 (2)8 (1)8 (0)8 (.)8 (9)8 ( )0.5 (million)8 ( )0.5 (made)8 ( )0.5 (from)8 ( )0.5 (the)8 ( )0.5 (valuation)8 ( )]TJ 0.025 Tc 0 Tw T* (loss on the convertible bonds that issued in the first half of year 2019\.)Tj /T1_1 1 Tf 0 -2.333 TD (Business Review)Tj /T1_0 1 Tf 0.028 Tc 0.08 Tw T* [(During)3 ( )0.5 (the)3.1 ( )0.5 (period)3 ( )0.5 (under)3 ( )0.5 (review,)3 ( )0.6 (the)3 ( )0.5 (Group)3 ( )0.5 (and)3 ( )0.5 (its)3 ( )0.5 (subsidiaries)3 ( )0.5 (have)3.1 ( been)3 ( )0.5 (operating)3 ( )0.5 (steadily)3 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.167 TD [(by)1 ( )0.5 (adhering)1 ( )0.5 (to)1 ( )0.5 (the)1 ( )0.5 (business)1 ( )0.5 (objectives)1 ( )0.5 (of)1 ( )0.5 (\223focusing)1.1 ( )0.5 (on)1 ( )0.5 (efficiency)1 ( )0.5 (and)1 ( )0.5 (changing)1 ( )0.5 (management)1 ( )]TJ 0.025 Tc 0.055 Tw T* (model\224. In particular, since the start of the 60-day struggling campa\ign, the staff at all levels )Tj 0.058 Tc 0.07 Tw 0 -1.167 TD [(strived)12.7 ( to)12.6 ( carry)12.7 ( out)12.7 ( various)12.7 ( projects)12.7 ( as)12.7 ( planned.)12.7 ( The)12.7 ( working)12.6 ( culture)12.7 ( and)12.7 ( attitude)12.6 ( have)33 ( )]TJ 0.04 Tc 0 -1.167 TD [(changed)12.1 ( drastically.)12.2 ( Manufacturing)12.2 ( subsidiaries)12.2 ( operated)12.2 ( in)12.2 ( a)12.2 ( safe)12.2 ( manner)12.1 ( and)12.1 ( maintained)15 ( )]TJ 0.034 Tc 0.074 Tw T* [(l)0.5 (ong)0.5 (-t)0.5 (er)0.5 (m)9 ( )0.5 (st)0.5 (ab)0.5 (le)9 ( )0.5 (o)0.5 (pe)0.5 (ra)0.5 (ti)0.5 (on)0.5 (,)9 ( )0.5 (wh)0.5 (ile)9.1 ( )0.5 (the)9.1 ( )0.5 (pr)0.5 (ob)0.5 (le)0.5 (m)8.9 ( )0.6 (in)9 ( )0.5 (re)0.5 (l)0.5 (ati)0.5 (on)9 ( )0.5 (t)0.5 (o)9 ( )0.5 (pr)0.5 (ic)0.5 (in)0.5 (g)8.9 ( )0.6 (of)9 ( )0.5 (n)0.5 (at)0.5 (ura)0.5 (l)9 ( )0.5 (ga)0.5 (s)9 ( )0.5 (h)0.5 (as)9 ( )0.5 (b)0.5 (ee)0.5 (n)9 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.167 TD (properly resolved. The sales team gradually adjusted the sales model and\ optimized the sales )Tj 0.062 Tc 0.07 Tw 0 -1.167 TD [(channels.)12.7 ( The)12.7 ( management)12.6 ( team)12.7 ( carried)12.7 ( out)12.7 ( the)12.7 ( \223enhancing)12.7 ( management\224)12.7 ( initiative)12.7 ( to)37 ( )]TJ 0.06 Tc T* [(improve)12 ( the)12 ( fundamental)12.1 ( management)12.1 ( in)12.1 ( a)12.1 ( comprehensive)12.1 ( way.)12.1 ( In)12.1 ( general,)12 ( the)12 ( overall)35 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.167 TD [(operating)5 ( )0.5 (situation)5 ( )0.5 (of)5 ( )0.5 (the)5 ( )0.5 (Group)5 ( )0.6 (in)5 ( )0.5 (the)5 ( )0.5 (first)5 ( )0.5 (half)5 ( )0.5 (of)5 ( )0.5 (2)5 (0)5 (1)5 (9)5 ( )0.5 (has)5 ( )0.5 (gradually)5 ( )0.5 (improved.)5 ( )0.5 (However,)5 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.167 TD [(since)12.4 ( the)12.4 ( oversupply)12.3 ( situation)12.4 ( within)12.4 ( the)12.4 ( traditional)12.4 ( chemical)12.4 ( fertilizers)12.4 ( and)12.4 ( chemicals)34 ( )]TJ 0.041 Tc T* [(industries)12.9 ( still)12.9 ( exists)12.9 ( and)12.8 ( product)12.9 ( prices)12.9 ( continue)12.9 ( to)12.9 ( fluctuate,)12.9 ( the)12.9 ( actual)12.9 ( overall)12.9 ( operating)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.167 TD (performance did not meet the expectation.)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 11 \226)Tj /T1_1 1 Tf 0.668 Tw 10 0 0 10 56.6929 728.7079 Tm (10.)Tj /Span<>> BDC ( )Tj EMC (BORROWINGS)Tj -0.025 Tw 34.601 -2.4 Td (\(Unaudited\))Tj /T1_0 1 Tf 9.833 0 Td (\(Audited\))Tj /T1_1 1 Tf 0 Tw -7.043 -1.2 Td (As at)Tj -1.162 -1.2 Td (30 June)Tj /T1_0 1 Tf 9.777 1.2 Td (As at)Tj -3.426 -1.2 Td (31 December)Tj /T1_1 1 Tf -0.025 Tw -4.97 -1.2 Td (2019)Tj /T1_0 1 Tf 8.504 0 Td (2018)Tj /T1_2 1 Tf -10.635 -1.2 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.4 Td (Short-term borrowings)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (951,654)Tj /T1_0 1 Tf 7.704 0 Td (1,239,668)Tj 0 Tw -41.721 -1.2 Td (Long-term borrowings repayable:)Tj 1.001 -1.2 Td (Less than 1 year)Tj /T1_1 1 Tf -0.025 Tw 33.017 0 Td (199,950)Tj /T1_0 1 Tf 8.504 0 Td (433,921)Tj 0 Tw -41.521 -1.2 Td (Between 1 and 2 years)Tj /T1_1 1 Tf -0.025 Tw 33.017 0 Td (410,960)Tj /T1_0 1 Tf 8.504 0 Td (101,500)Tj 0 Tw -41.521 -1.2 Td (Between 2 and 5 years)Tj /T1_1 1 Tf -0.025 Tw 33.017 0 Td (402,800)Tj /T1_0 1 Tf 8.504 0 Td (242,000)Tj 0 Tw -41.521 -1.2 Td (Over 5 years)Tj /T1_1 1 Tf 0 Tc 35.917 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 568.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1732 568.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 568.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 568.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 411.5433 545.6989 Tm (1,013,710)Tj /T1_0 1 Tf 9.304 0 Td (777,421)Tj 0 Tw -42.521 -1.2 Td (Within 1 year included in current liabilities)Tj /T1_1 1 Tf -0.025 Tw 33.634 0 Td (\(199,950\))Tj /T1_0 1 Tf 8.504 0 Td (\(433,921\))Tj ET q 1 0 0 1 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(168,990)Tj ET 0.5 w q 1 0 0 1 379.8425 343.6688 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 343.4358 Tm ( )Tj ET q 1 0 0 1 464.8818 343.6688 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 343.4358 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 321.1187 Tm (339,622)Tj /T1_0 1 Tf 8.504 0 Td (325,869)Tj ET 1.11 w q 1 0 0 1 379.8425 317.6018 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 315.5018 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 315.1738 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 317.6018 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 315.5018 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 315.1738 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3701 294.5568 Tm (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 -1.162 -1.2 Td (30 June)Tj /T1_0 1 Tf 9.777 1.2 Td (As at)Tj -3.426 -1.2 Td (31 December)Tj /T1_1 1 Tf -0.025 Tw -4.97 -1.2 Td (2019)Tj /T1_0 1 Tf 8.504 0 Td (2018)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 1.001 -1.2 Td (Less than 1 year)Tj /T1_1 1 Tf -0.025 Tw 33.542 0 Td (22,924)Tj /T1_0 1 Tf 8.504 0 Td (18,980)Tj 0 Tw -42.046 -1.2 Td (More than 1 year but not exceeding 2 years)Tj /T1_1 1 Tf 0 Tc 35.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -44.421 -1.2 Td (More than 2 years but not exceeding 3 years)Tj /T1_1 1 Tf 0 Tc 35.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -44.421 -1.2 Td (More than 3 years)Tj /T1_1 1 Tf 0 Tc 35.917 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 146.0977 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1732 145.8647 Tm ( )Tj ET q 1 0 0 1 464.8818 146.0977 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 145.8647 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 424.7933 123.5477 Tm (22,924)Tj /T1_0 1 Tf 8.504 0 Td (18,980)Tj ET 1.11 w q 1 0 0 1 379.8425 120.0308 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 117.9308 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 117.6028 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 120.0308 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 117.9308 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 117.6028 Tm ( )Tj ET endstreamendobj75 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 10 0 0 10 79.3701 728.7079 Tm (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 (2019)Tj /T1_0 1 Tf 8.504 0 Td (2018)Tj /T1_2 1 Tf -10.635 -1.2 Td (RMB\222000)Tj /T1_3 1 Tf 8.672 0 Td (RMB\222000)Tj /T1_0 1 Tf 0 Tw -41.883 -2.4 Td (Current tax in the PRC)Tj /T1_1 1 Tf 0 Tc 36.917 0 Td (\226)Tj /T1_0 1 Tf 8.504 0 Td (\226)Tj 0.025 Tc -45.421 -1.2 Td (Deferred income tax )Tj /T1_3 1 Tf (\(Note 11\))Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(13,068\))Tj /T1_0 1 Tf 8.504 0 Td (\(14,067\))Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8425 640.2489 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 640.0159 Tm ( )Tj ET q 1 0 0 1 464.8818 640.2489 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 640.0159 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 420.9633 617.6989 Tm (\(13,068\))Tj /T1_0 1 Tf 8.504 0 Td (\(14,067\))Tj ET 1.11 w q 1 0 0 1 379.8425 614.1819 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 612.0818 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 611.7539 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 614.1819 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 612.0818 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 611.7539 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 10 0 0 10 56.6929 591.1368 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 )0.5 (six )0.5 (months )0.5 (ended )0.6 (30 )0.5 (June )0.6 (2019 )0.6 (and )0.5 (2018 )]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 (2019)Tj /T1_0 1 Tf 8.504 0 Td (2018)Tj 0 Tw -43.846 -2.4 Td (\(Loss\)/Profit for the period )Tj /T1_3 1 Tf -0.025 Tw (\(RMB\222000\))Tj /T1_1 1 Tf 33.634 0 Td (\(328,260\))Tj /T1_0 1 Tf 8.504 0 Td (\(161,014\))Tj 0 Tw -42.138 -1.2 Td (Weighted average number of shares for calculation of )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.2 Td (basic earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.367 0 Td (4,298,042,599)Tj /T1_0 1 Tf 8.504 0 Td (4,298,042,599)Tj 0 Tw -39.871 -2.4 Td (Effect of dilutive potential shares on )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.2 Td (the outstanding share options and convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 30.367 0 Td (1,081,937,298)Tj /T1_0 1 Tf 0 Tc 0 Tw 14.054 0 Td (\226)Tj ET 0.5 w q 1 0 0 1 379.8425 430.6778 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1732 430.4448 Tm ( )Tj ET q 1 0 0 1 464.8818 430.6778 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 430.4448 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 408.1278 Tm (Weighted average number of shares for calculation of )Tj 0 Tc ( )Tj 0.025 Tc 1.001 -1.2 Td (diluted earnings per share)Tj /T1_1 1 Tf -0.025 Tw 30.367 0 Td (5,379,979,897)Tj /T1_0 1 Tf 8.504 0 Td (4,298,042,599)Tj ET 1.11 w q 1 0 0 1 379.8425 392.6109 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 390.5109 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 390.1829 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 392.6109 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 390.5109 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 390.1829 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 1.193 Tw 10 0 0 10 56.6929 369.5658 Tm (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 2019.)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 -2.35 Td (\(Unaudited\))Tj /T1_0 1 Tf 9.833 0 Td (\(Audited\))Tj /T1_1 1 Tf 0 Tw -6.71 -1.15 Td (As at)Tj -1.162 -1.15 Td (30 June)Tj /T1_0 1 Tf 9.777 1.15 Td (As at)Tj -3.426 -1.15 Td (31 December)Tj /T1_1 1 Tf -0.025 Tw -4.97 -1.2 Td (2019)Tj /T1_0 1 Tf 8.504 0 Td (2018)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 -2.35 Td (Trade receivables)Tj /T1_1 1 Tf -0.025 Tw 35.067 0 Td (2,292)Tj /T1_0 1 Tf 9.829 0 Td (54)Tj 0 Tw -44.896 -1.2 Td (Prepayments, purchase deposits and other deposits)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (65,111)Tj /T1_0 1 Tf 8.504 0 Td (87,459)Tj 0 Tw -43.046 -1.15 Td (Notes receivable)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (57,396)Tj /T1_0 1 Tf 9.029 0 Td (1,000)Tj 0 Tw -43.571 -1.15 Td (Other receivables)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (34,443)Tj /T1_0 1 Tf 8.504 0 Td (33,694)Tj ET 0.5 w q 1 0 0 1 379.8425 188.1068 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 187.8738 Tm ( )Tj ET q 1 0 0 1 464.8818 188.1068 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 187.8738 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 419.5433 165.5568 Tm (159,242)Tj /T1_0 1 Tf 8.504 0 Td (122,207)Tj ET 1.11 w q 1 0 0 1 379.8425 162.0398 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8425 159.9398 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1732 159.6118 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8818 162.0398 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8818 159.9398 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2126 159.6118 Tm ( )Tj ET endstreamendobj74 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 -1.5 TD (ACTIVITIES)Tj 0 Tw 32.14 -2.4 Td (Six months ended 30 June)Tj -0.025 Tw 3.202 -1.342 Td (2019)Tj /T1_0 1 Tf 8.504 0 Td (2018)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 (\(341,433\))Tj /T1_0 1 Tf 8.504 0 Td (\(175,131\))Tj 0 Tw -42.138 -1.2 Td (Depreciation of property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 34.017 0 Td (108,677)Tj /T1_0 1 Tf 8.504 0 Td (108,852)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 (2,579)Tj /T1_0 1 Tf 8.504 0 Td (2,309)Tj 0 Tw -43.571 -1.2 Td (Interest income)Tj /T1_1 1 Tf -0.025 Tw 36.009 0 Td (\(45\))Tj /T1_0 1 Tf 8.504 0 Td (\(39\))Tj 0 Tw -44.513 -1.2 Td (Interest expense)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (67,919)Tj /T1_0 1 Tf 8.504 0 Td (77,342)Tj 0 Tw -43.046 -1.2 Td (Loss/\(gain\) on disposal of fixed assets)Tj /T1_1 1 Tf -0.025 Tw 35.867 0 Td (377)Tj /T1_0 1 Tf 7.704 0 Td (1,747)Tj 0 Tc 0 Tw 5.83 0 0 5.83 79.37 571.6207 Tm (1)Tj 0.025 Tc 10 0 0 10 82.4307 568.2906 Tm ( Fair value change of derivative financial assets)Tj /T1_1 1 Tf 0 Tc 36.611 0 Td (\226)Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 6.129 0 Td (41,670)Tj 0 Tc 0 Tw 5.83 0 0 5.83 79.37 559.6207 Tm (2)Tj 0.025 Tc 10 0 0 10 82.4307 556.2906 Tm ( Provision loss on convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 33.711 0 Td (210,888)Tj /T1_0 1 Tf 0 Tc 0 Tw 11.404 0 Td (\226)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8424 551.8317 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0.1 0 0 0.1 374.1731 551.5987 Tm ( )Tj ET q 1 0 0 1 464.8818 551.8317 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 551.5987 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 529.2816 Tm (Operation cash flow before working capital change)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (48,962)Tj /T1_0 1 Tf 8.504 0 Td (56,750)Tj ET q 1 0 0 1 379.8424 524.8226 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 524.5897 Tm ( )Tj ET q 1 0 0 1 464.8818 524.8226 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 524.5897 Tm ( )Tj 0.025 Tc 10 0 0 10 79.37 502.2726 Tm (\(Increase\)/decrease in inventories)Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(12,988\))Tj /T1_0 1 Tf 9.029 0 Td (\(7,907\))Tj 0 Tw -43.188 -1.2 Td (\(Increase\)/decrease in trade and other receivables)Tj /T1_1 1 Tf -0.025 Tw 34.159 0 Td (\(37,036\))Tj /T1_0 1 Tf 8.504 0 Td (\(25,717\))Tj 0 Tw -42.663 -1.2 Td (Increase/\(decrease\) in trade an other payables)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (25,293)Tj /T1_0 1 Tf 8.504 0 Td (88,874)Tj 0 Tw -43.046 -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 461.8135 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 461.5805 Tm ( )Tj ET q 1 0 0 1 464.8817 461.8135 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 461.5805 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3699 439.2635 Tm (Cash generated from/\(used in\) operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (24,127)Tj /T1_0 1 Tf 7.979 0 Td (111,896)Tj 0 Tw -42.521 -1.2 Td (Income tax)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (13,068)Tj /T1_0 1 Tf 8.504 0 Td (14,067)Tj ET q 1 0 0 1 379.8423 422.8045 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 422.5715 Tm ( )Tj ET q 1 0 0 1 464.8817 422.8045 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 422.5715 Tm ( )Tj 0.025 Tc 10 0 0 10 79.3699 400.2545 Tm (Net cash generated from/\(used in\) operating activities)Tj /T1_1 1 Tf -0.025 Tw 34.542 0 Td (37,195)Tj /T1_0 1 Tf 7.979 0 Td (125,963)Tj ET 1.11 w q 1 0 0 1 379.8423 396.7375 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8423 394.6375 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 394.3095 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8817 396.7375 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8817 394.6375 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 394.3095 Tm ( )Tj 5.83 0 0 5.83 79.3699 377.0225 Tm (1)Tj 0.025 Tc 0.053 Tw /Span<>> BDC 10 0 0 10 82.4307 373.6925 Tm ( )Tj EMC 1.962 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 0 -1.2 TD [(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 0 Tc 5.83 0 0 5.83 79.3699 329.0225 Tm (2)Tj 0.055 Tc 0.07 Tw /Span<>> BDC 10 0 0 10 82.4307 325.6925 Tm ( )Tj EMC 1.962 0 Td [(The)12.4 ( Provision)12.4 ( made)12.4 ( from)12.3 ( the)12.4 ( valuation)12.4 ( loss)12.4 ( on)12.4 ( the)12.4 ( issued)12.4 ( of)12.3 ( convertible)12.4 ( bonds)12.4 ( as)12.4 ( stated)12.4 ( in)12.3 ( the)30 ( )]TJ 0.025 Tc 0 Tw T* (Company\222s announcement dated 31 January 2019 and 15 March 2019. )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 2019.)Tj 0 -2.4 TD (The applicable income tax rate of all subsidiaries located in Mainland C\hina in 2019 is 25%.)Tj 0.025 Tw T* [(The income tax benefit made for Dazhou Ko Yo )0.5 (Chemical Industry Limited, Guangan Lotusan Natural Gas )]TJ 0.039 Tw 0 -1.2 TD (Chemicals Company Limited and Guangan Ko Yo Chemical Industry Company Li\mited for the six months )Tj 0 Tw T* (ended 30 June 2019 was approximately RMB4,386,000, RMB6,860,000 and RMB1\,822,000 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1 0 0 1 479.0552 118.5219 cm 0 0 m 59.528 0 l S Q 0.45 w q 1 0 0 1 479.0552 116.4219 cm 0 0 m 59.528 0 l S Q BT 0.1 0 0 0.1 473.3859 116.0939 Tm ( )Tj /T1_3 1 Tf 0.025 Tc -0.025 Tw 10 0 0 10 79.3702 95.4769 Tm (Note:)Tj /T1_0 1 Tf 0 Tw /Span<>> BDC ( )Tj EMC 3.402 0 Td (Others are trading of various chemical products and fertilizers.)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 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 2019 and 30 June 2018)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 2018 )Tj -0.025 Tw 0.619 -1.2 Td (\(audited\))Tj 12.517 0 Td (368,394)Tj 6.287 0 Td (1,409,065)Tj 8.029 0 Td (\(22,041\))Tj 6.945 0 Td (253,172)Tj 7.612 0 Td (45,273)Tj 7.612 0 Td (1,131)Tj 4.854 0 Td (\(1,119,870\))Tj 8.937 0 Td (\(3,509\))Tj 7.47 0 Td (1.882)Tj 6.037 0 Td (933,497)Tj 0 Tw -76.915 -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 2018)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 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0.1 0 0 0.1 289.1343 526.0158 Tm ( )Tj ET q 1 0 0 1 337.3232 526.2488 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 331.654 526.0158 Tm ( )Tj ET q 1 0 0 1 379.8429 526.2488 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 374.1736 526.0158 Tm ( )Tj ET q 1 0 0 1 422.3626 526.2488 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 416.6933 526.0158 Tm ( )Tj ET q 1 0 0 1 464.8823 526.2488 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 459.213 526.0158 Tm ( )Tj ET q 1 0 0 1 507.402 526.2488 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 501.7327 526.0158 Tm ( )Tj 0.025 Tc 6 0 0 10 56.6935 503.6988 Tm (At 30 June 2018)Tj -0.025 Tw 13.135 0 Td (368,394)Tj 6.287 0 Td (1,409,065)Tj 8.029 0 Td (\(22,041\))Tj 6.945 0 Td (253,172)Tj 7.612 0 Td (46,168)Tj 7.612 0 Td (1,131)Tj 4.854 0 Td (\(1,280,884\))Tj 8.937 0 Td (\(3,509\))Tj 7.47 0 Td (1,832)Tj 6.037 0 Td (773,328)Tj ET 1.11 w q 1 0 0 1 124.7249 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 124.7249 498.0818 cm 0 0 m 31.181 0 l S Q BT 0 Tc 0 Tw 0.1 0 0 0.1 119.0556 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 167.2446 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 167.2446 498.0818 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 161.5753 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 209.7643 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 209.7643 498.0818 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 204.095 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 252.284 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 252.284 498.0818 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 246.6147 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 294.8036 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 294.8036 498.0818 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 289.1344 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 337.3233 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 337.3233 498.0818 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 331.6541 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 379.843 500.1818 cm 0 0 m 31.181 0 l S Q 0.45 w q 1 0 0 1 379.843 498.0818 cm 0 0 m 31.181 0 l S Q BT 0.1 0 0 0.1 374.1737 497.7538 Tm ( )Tj ET 1.11 w q 1 0 0 1 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0.025 Tc -0.025 Tw 12 0 0 12 403.1431 512.0388 Tm (1,660,498)Tj /T1_0 1 Tf 7.087 0 Td (2,155,534)Tj ET q 1 0 0 1 379.8423 507.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 507.0067 Tm ( )Tj ET q 1 0 0 1 464.8816 507.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 507.0067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 481.0297 Tm (Non-current liabilities)Tj /T1_0 1 Tf 0.751 -1.167 Td (Long-term borrowings)Tj /T1_2 1 Tf -0.025 Tw 22.831 0 Td (10)Tj /T1_1 1 Tf 6.089 0 Td (813,760)Tj /T1_0 1 Tf 7.087 0 Td (343,500)Tj 0 Tw -36.006 -1.167 Td (Convertible bonds)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (258,763)Tj /T1_0 1 Tf 7.087 0 Td (123,274)Tj 0 Tw -36.006 -1.167 Td (Deferred subsidy income)Tj /T1_1 1 Tf -0.025 Tw 30.77 0 Td (518)Tj /T1_0 1 Tf 7.087 0 Td (622)Tj 0 Tw -37.856 -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 (74,730)Tj /T1_0 1 Tf 7.087 0 Td (74,730)Tj ET q 1 0 0 1 379.8422 420.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 419.9977 Tm ( )Tj ET q 1 0 0 1 464.8816 420.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 419.9977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.143 394.0206 Tm (1,147,771)Tj /T1_0 1 Tf 7.887 0 Td (542,126)Tj ET q 1 0 0 1 379.8422 389.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 388.9886 Tm ( )Tj ET q 1 0 0 1 464.8816 389.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 388.9886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6926 363.0116 Tm (Total liabilities)Tj -0.025 Tw 28.871 0 Td (2,808,269)Tj /T1_0 1 Tf 7.087 0 Td (2,697,660)Tj ET q 1 0 0 1 379.8421 358.2125 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 357.9795 Tm ( )Tj ET q 1 0 0 1 464.8815 358.2125 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 357.9795 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 332.0025 Tm (Total equity and liabilities)Tj -0.025 Tw 28.871 0 Td (3,367,678)Tj /T1_0 1 Tf 7.087 0 Td (3,282,871)Tj ET 1.11 w q 1 0 0 1 379.8421 328.1456 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8421 326.0456 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 325.7176 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8814 328.1456 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 326.0456 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 325.7176 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 299.7405 Tm (Net current liabilities)Tj -0.025 Tw 28.488 0 Td (\(1,358,545\))Tj /T1_0 1 Tf 7.087 0 Td (\(1,940,660\))Tj ET 1.11 w q 1 0 0 1 379.842 295.8836 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.842 293.7836 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 293.4556 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8814 295.8836 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8814 293.7836 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2121 293.4556 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6925 267.4786 Tm (Total assets less current liabilities)Tj -0.025 Tw 28.871 0 Td (1,707,180)Tj /T1_0 1 Tf 7.087 0 Td (1,127,337)Tj ET 1.11 w q 1 0 0 1 379.842 263.6216 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.842 261.5216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1727 261.1936 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8814 263.6216 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8814 261.5216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2121 261.1936 Tm ( )Tj ET endstreamendobj82 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 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 2019 and 31 December 2018)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 -6.618 -1.167 Td (As at 30)Tj -0.025 Tw 1.488 -1.167 Td (June)Tj /T1_0 1 Tf 0 Tw 5.71 1.167 Td (As at 31)Tj -0.025 Tw -0.776 -1.167 Td (December)Tj /T1_1 1 Tf -4.878 -1.167 Td (2019)Tj /T1_0 1 Tf 7.087 0 Td (2018)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 (Land use rights)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (109,197)Tj /T1_0 1 Tf 7.087 0 Td (111,777)Tj 0 Tw -36.006 -1.167 Td (Property, plant and equipment)Tj /T1_1 1 Tf -0.025 Tw 28.12 0 Td (2,463,854)Tj /T1_0 1 Tf 7.087 0 Td (2,476,614)Tj 0 Tw -35.206 -1.167 Td (Investment properties)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (59,538)Tj /T1_0 1 Tf 7.087 0 Td (59,538)Tj 0 Tw -36.531 -1.167 Td (Mining right)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (309,755)Tj /T1_0 1 Tf 7.087 0 Td (309,755)Tj 0 Tw -36.006 -1.167 Td (Intangible assets)Tj /T1_1 1 Tf -0.025 Tw 29.97 0 Td (8,349)Tj /T1_0 1 Tf 7.087 0 Td (8,349)Tj 0 Tw -37.056 -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 (115,032)Tj /T1_0 1 Tf 7.087 0 Td (101,964)Tj ET 0 0 0 1 K 0.5 w q 1 0 0 1 379.8423 498.2488 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 498.0158 Tm ( )Tj ET q 1 0 0 1 464.8817 498.2488 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 498.0158 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 403.1431 472.0388 Tm (3,065,725)Tj /T1_0 1 Tf 7.087 0 Td (3,067,997)Tj ET q 1 0 0 1 379.8423 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.173 467.0067 Tm ( )Tj ET q 1 0 0 1 464.8816 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 467.0067 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 441.0297 Tm (Current assets)Tj /T1_0 1 Tf -0.025 Tw 0.751 -1.167 Td (Inventories)Tj /T1_1 1 Tf 29.445 0 Td (76,771)Tj /T1_0 1 Tf 7.087 0 Td (63,783)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 (159,242)Tj /T1_0 1 Tf 7.087 0 Td (122,207)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 7.087 0 Td (\226)Tj 0.025 Tc -38.906 -1.167 Td (Pledged bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (28,839)Tj /T1_0 1 Tf 7.087 0 Td (24,339)Tj 0 Tw -36.531 -1.167 Td (Cash and bank deposits)Tj /T1_1 1 Tf -0.025 Tw 29.445 0 Td (37,101)Tj /T1_0 1 Tf 7.612 0 Td (4,545)Tj ET q 1 0 0 1 379.8422 366.2307 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 365.9977 Tm ( )Tj ET q 1 0 0 1 464.8816 366.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 365.9977 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 412.743 340.0207 Tm (301,953)Tj /T1_0 1 Tf 7.087 0 Td (214,874)Tj ET q 1 0 0 1 379.8422 335.2216 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1729 334.9886 Tm ( )Tj ET q 1 0 0 1 464.8816 335.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 334.9886 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6927 309.0116 Tm (Total assets)Tj -0.025 Tw 28.871 0 Td (3,367,678)Tj /T1_0 1 Tf 7.087 0 Td (3,282,871)Tj ET 1.11 w q 1 0 0 1 379.8422 305.1547 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8422 303.0547 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 302.7267 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8816 305.1547 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8816 303.0547 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 302.7267 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 56.6926 276.7497 Tm (EQUITY)Tj /T1_0 1 Tf 0 Tw 0.751 -1.167 Td (Share capital)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (368,394)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 (189,316)Tj /T1_0 1 Tf 7.087 0 Td (215,012)Tj ET 0.5 w q 1 0 0 1 379.8422 243.9506 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 243.7176 Tm ( )Tj ET q 1 0 0 1 464.8815 243.9506 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 243.7176 Tm ( )Tj 0.025 Tc 12 0 0 12 65.7068 217.7406 Tm (Shareholders\222 funds)Tj /T1_1 1 Tf -0.025 Tw 28.92 0 Td (557,710)Tj /T1_0 1 Tf 7.087 0 Td (583,406)Tj ET q 1 0 0 1 379.8422 212.9416 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 212.7086 Tm ( )Tj ET q 1 0 0 1 464.8815 212.9416 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 212.7086 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6926 186.7316 Tm (Non-controlling interest)Tj -0.025 Tw 30.721 0 Td (1,699)Tj /T1_0 1 Tf 7.087 0 Td (1,805)Tj ET q 1 0 0 1 379.8422 181.9325 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 181.6995 Tm ( )Tj ET q 1 0 0 1 464.8815 181.9325 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 181.6995 Tm ( )Tj /T1_1 1 Tf 0.025 Tc 12 0 0 12 56.6926 155.7225 Tm (Total equity)Tj -0.025 Tw 29.671 0 Td (559,409)Tj /T1_0 1 Tf 7.087 0 Td (585,211)Tj ET q 1 0 0 1 379.8422 150.9235 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 150.6905 Tm ( )Tj ET q 1 0 0 1 464.8815 150.9235 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 150.6905 Tm ( )Tj ET endstreamendobj81 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 24.0557 Tm (\226 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 (9)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 (2018 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 2019 and 30 June 2018)Tj /T1_1 1 Tf 27.699 -2.333 Td (Six months ended 30 June)Tj -0.025 Tw 3.297 -1.167 Td (2019)Tj /T1_0 1 Tf 7.087 0 Td (2018)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 5.826 0 Td (953,581)Tj /T1_0 1 Tf 6.287 0 Td (1,992,651)Tj 0 Tw -35.957 -1.167 Td (Cost of sales)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(939,301\))Tj /T1_0 1 Tf 6.287 0 Td (\(1,876,359\))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 1 464.8817 498.2488 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2125 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 30.196 0 Td (14,280)Tj /T1_0 1 Tf 6.562 0 Td (116,292)Tj ET q 1 0 0 1 379.8423 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1731 467.0067 Tm ( )Tj ET q 1 0 0 1 464.8817 467.2397 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2124 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 (45)Tj /T1_0 1 Tf 7.087 0 Td (39)Tj 0 Tw -39.132 -1.167 Td (Distribution costs)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(15,902\))Tj /T1_0 1 Tf 7.087 0 Td (\(17,367\))Tj 0 Tw -36.899 -1.167 Td (Administrative expenses)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(61,365\))Tj /T1_0 1 Tf 6.562 0 Td (\(158,399\))Tj 0 Tw -36.374 -1.167 Td (Other \(loss\)/income)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(210,573\))Tj /T1_0 1 Tf 7.612 0 Td (\(38,354\))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 1 464.8816 394.2307 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 393.9977 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6927 368.0207 Tm (Operating profit/\(loss\))Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(273,515\))Tj /T1_0 1 Tf 7.612 0 Td (\(97,789\))Tj 0 Tw -36.899 -1.167 Td (Finance costs)Tj /T1_1 1 Tf -0.025 Tw 29.813 0 Td (\(67,919\))Tj /T1_0 1 Tf 7.087 0 Td (\(77,342\))Tj ET q 1 0 0 1 379.8422 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 0.1 374.1729 348.9886 Tm ( )Tj ET q 1 0 0 1 464.8815 349.2216 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 348.9886 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6926 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 (\(341,434\))Tj /T1_0 1 Tf 7.087 0 Td (\(175,131\))Tj -36.374 -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 (13,068)Tj /T1_0 1 Tf 7.087 0 Td (14,067)Tj ET q 1 0 0 1 379.8422 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 0.1 374.1729 303.9796 Tm ( )Tj ET q 1 0 0 1 464.8816 304.2126 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2123 303.9796 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6926 278.0026 Tm (\(Loss\)/Profit for the period)Tj /T1_1 1 Tf -0.025 Tw 29.288 0 Td (\(328,366\))Tj /T1_0 1 Tf 7.087 0 Td (\(161,064\))Tj ET 1.11 w q 1 0 0 1 379.8421 273.0118 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.8422 270.9118 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 270.5838 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8815 273.0118 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8815 270.9118 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2122 270.5838 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6925 244.6068 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 (\(328,260\))Tj /T1_0 1 Tf 7.087 0 Td (\(161,014\))Tj 0 Tw -36.374 -1.167 Td (Non-controlling interests)Tj /T1_1 1 Tf -0.025 Tw 31.138 0 Td (\(106\))Tj /T1_0 1 Tf 7.612 0 Td (\(50\))Tj ET 0.5 w q 1 0 0 1 379.842 211.8077 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1727 211.5747 Tm ( )Tj ET q 1 0 0 1 464.8814 211.8077 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.2121 211.5747 Tm ( )Tj /T1_1 1 Tf 0.025 Tc -0.025 Tw 12 0 0 12 408.1469 185.5977 Tm (\(328,366\))Tj /T1_0 1 Tf 7.087 0 Td (\(161,064\))Tj ET 1.11 w q 1 0 0 1 379.8419 180.6069 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 379.842 178.5069 cm 0 0 m 73.701 0 l S Q BT /T1_1 1 Tf 0 Tc 0 Tw 0.1 0 0 0.1 374.1727 178.1789 Tm ( )Tj ET 1.11 w q 1 0 0 1 464.8813 180.6069 cm 0 0 m 73.701 0 l S Q 0.45 w q 1 0 0 1 464.8813 178.5069 cm 0 0 m 73.701 0 l S Q BT /T1_0 1 Tf 0.1 0 0 0.1 459.212 178.1789 Tm ( )Tj 0.025 Tc 12 0 0 12 56.6924 152.2019 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 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