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Summary of Half-Year Report 2022
Contents
Section I. Company Information and Key Financial Indicators ................................................... 8
Section II. Discussion and Analysis of Management of the Company ........................................ 11
Section III Company Governance .................................................................................................. 25
Section IV. Financial Report ........................................................................................................... 27
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Section I. Company Information and Key Financial Indicators
I. Company Profile
Stock abbreviation 润丰股份 Stock code 301035
Listed on Shenzhen Stock Exchange
Chinese name of the
山东潍坊润丰化工股份有限公司
Company
Chinese abbreviation (if any) 润丰股份
Name of the Company in
SHANDONG WEIFANG RAINBOW CHEMICAL CO.,LTD
English (if any)
Abbreviation of the Company
RAINBOW CHEMICAL
in English (if any)
Legal representative of the
Wicky Wang
Company
II. Contact Person and Contact Information
Secretary of the board Securities affairs representative
Name Xing Bingpeng Hu Dongju
30th Floor, Building 5, Zone 5, Hanyu 30th Floor, Building 5, Zone 5, Hanyu
Contact address Financial Business Center, High-tech Financial Business Center, High-tech
Zone, Jinan City, Shandong Province Zone, Jinan City, Shandong Province
Tel 0531-83199916 0531-83199916
Fax 0531-83191676 0531-83191676
E-mail rfzqb@rainbowagro.com rfzqb@rainbowagro.com
III. Other Information
1. Contact Information of the Company
Whether there is any change to the Company's registered address, office address, postal code, website and E-mail address during
the reporting period
□ Applicable Not applicable
There is no change to the Company's registered address, office address, postal code, website and E-mail address during the
reporting period. For details, see the Company's 2021 Annual Report.
2. Information Disclosure and Place of Report
Whether there is any change to information disclosure and place of report during the reporting period
Applicable □ Not applicable
Securities Times, China Securities Journal, Shanghai Securities
The website where the Semi-Annual Report is published
News, Securities Daily, Economic Information Daily, CNINFO
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(www.cninfo.com.cn)
The newspaper selected by the company for information
Shenzhen Stock Exchange: http://www.szse.cn
disclosure
The place where the Semi-Annual Report is available for 30th Floor, Building 5, Zone 5, Hanyu Financial Business
inspection Center, High-tech Zone, Jinan City, Shandong Province
3. Changes of the registration status of the Company
Whether there is any change to the Company's registration status during the reporting period
□ Applicable Not applicable
There is no change to the registration status of the Company during the reporting period. For details, see the Company's 2021
Annual Report.
IV. Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of previous years
□ Yes No
Year-on-year increase or
Q1 2022 Q1 2021
decrease
Operating income (RMB) 7,778,575,013.04 4,014,068,101.11 93.78%
Net profit attributable to
shareholders of the Company 887,649,644.42 274,776,174.40 223.04%
(RMB)
Net profit attributable to
shareholders of the Company
893,139,516.82 266,281,166.35 235.41%
excluding non-recurring gains
and losses (RMB)
Net cash flow from operating
686,193,459.42 -468,457,354.13 246.48%
activities (RMB)
Basic earnings per share
3.21 1.33 141.35%
(RMB/Share)
Diluted earnings per share
3.19 1.33 139.85%
(RMB/Share)
Weighted average return on
16.77% 9.34% 7.43%
net assets
Year-on-year increase or
End of Q1 2022 End of 2021
decrease
Total assets (RMB) 12,648,733,834.87 10,311,655,543.89 22.66%
Net assets attributable to
shareholders of the Company 5,600,570,714.46 4,908,724,302.71 14.09%
(RMB)
V. Items and Amounts of Non-Recurring Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Amount Notes
Gain and loss on disposal of non-current -15,738,451.90
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assets (including the write-off portion of
asset impairment provision)
Government subsidies included in
current gains and losses (closely related
to normal operational business of the
Company, excluding the continuous 7,676,761.53
government subsidies of certain amount
or quota complying with national
policies)
Other non-operating revenue and
expenditure other than those mentioned 1,368,451.14
above
Less: affected amount of income tax -1,221,135.54
Affected amount of minority
17,768.71
shareholders' equity (after tax)
Total -5,489,872.40
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Section II. Discussion and Analysis of Management of the Company
I. The Main Business of the Company During the Reporting Period
Rainbow Chemical has always focused on the in-depth cultivation in the field of crop protection
globally, and is committed "To be a Global Leading Crop Protection Company" is the Company's vision.
As a multinational crop protection company established in China, the Company is actively promoting the
realization of "From Made in China to Globalization of Chinese Brands".
The Company's main products include comprehensive product portfolios of five categories, i.e.
herbicides, insecticides, fungicides, plant growth regulators and seed treatments.
With the presence worldwide, The Company has four manufacturing bases respectively in Weifang,
Qingdao (Shandong Province, China), Pingluo (Ningxia Province, China) and Argentina in South America.
It has established more than 60 subsidiaries overseas, and has carried out business in more than 80
countries and regions around the world, thus improving the global marketing network actively and
constantly.
Rainbow Chemical has built a complete industrial chain covering the R&D and manufacturing of
pesticide active ingredients and preparations, as well as brands, channels, sales and services targeting the
global market. Relying on the self-production capacity, strong domestic supply chain and global marketing
network, Rainbow Chemical is characterized by "Light structure, Fast response", and builds an
international professional team with the values of "Open and Inclusive, Together We Win", originating
from China and serving the world.
As a multinational crop protection company established in China, Rainbow Chemical has always been
leading in the export of crop protection products in China. In the rating organized by CAC (the Organizing
Committee of China International Agrochemical & Crop Protection Exhibition), the Company has ranked
number one in the "Top 20 Chinese Pesticide Exporters" for six consecutive years. According to the
TOP20 list of global agrochemical companies released by Agropages, the Company ranked 11th in the
industry in 2020.
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II. Analysis of Core Competitiveness
1. Originating from China Serving the world---the unique business model to achieve "From
Made in China to Globalization of Chinese Brands"
In the early years after the Company's establishment, relying on the experience accumulated by the
founding team in the crop protection product industry, it participated in the global pesticide industry chain
as an active ingredients manufacturer and supplier. It achieved rapid growth and initial accumulation with
the help of the rapid development of the global crop protection products market and the wave of industria l
transfer to emerging countries such as China.
With the changes in the global economic environment, the global crop protection industry is also
undergoing changes. Especially after the outbreak of the financial crisis in 2008, affected by the decline in
overall market demand, the overcapacity problem of domestic manufacturing industry was more and more
prominent due to years of continuous low-level repeated production. Many products were oversupplied
and generated vicious price competition, which adversely affected the profitability of enterprises in the
industry. In response to the challenges brought about by changes in domestic and foreign economic and
market environments, the Company responded quickly. Since the second half of 2008, it began to explore
and plan for the optimization and upgrading of the its sales model and development route. The Company
has gradually formed a global marketing network with "Team + Platform + Innovation" as the basic
elements, combining the traditional export mode of crop protection products with the independent overseas
registration mode, and featuring a "Quick Market Access Platform".
The core of the "Quick Market Access Platform" is to obtain the registration of a rich and complete
product portfolio in each target country and to adhere to the concept of open platform. The rich and
complete product portfolio registration can provide growers with integrated crop solutions, and the concept
of open platform enables the Company to build its own local team based on the target country platform, to
carry out the B-C business model of its own brand. In addition, the Company adopts flexible way to open
the platform to other excellent partners to carry out B-B operation. Based on this open platform, the
Company can rapidly expand market share through multiple channels including the Company's self-built
team and cooperation with industry partners.
In each target country, the Company adheres to the combination of the traditional export model of crop
protection products and the overseas self-registration model. The Company can flexibly adjust and switch
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between different market roles such as suppliers, brand owners and service providers according to changes
in market scenarios and product differences. Two models promote and complement each other. The
traditional export model provides a solid customer base and market awareness for business expansion
under the overseas self-registration model. The abundant overseas self-registration not only greatly
improves the Company's brand awareness, but also can better meet customer needs with more various
products and improve the intimacy with customers, which is more conducive to the development of the
Company's traditional export business.
At present, the Company's traditional export business model still accounts for a considerable
proportion of revenue. In the future, with the continuous increase of the Company's overseas self-
registration quantities and the continuous improvement of the construction of the global marketin g
network characterized by "Quick Market Access Platform ", the proportion of revenue of the overseas self-
registration model and the proportion of B-C revenue of self-owned brands will be further increased. In
addition, the Company's profitability and capabilities to maintain sustainable and stable growth and
operation will be significantly improved, so as to achieve stable, sustainable and rapid growth.
According to the mid-term strategic plan, the Company is speeding up and increasing the investment
in overseas self-registration to enrich the product portfolio in each target country, and starting the
construction of a "Quick Market Access Platform" in more target countries. In the meanwhile, the
Company also adheres to the characteristics of "Light Structure, Fast Response" to accelerate the
development of its own brand B-C business in each target country. With its own strength and China's
strong supply chain, the Company is striving to achieve "From Made in China to Globalization of Chinese
Brands".
2. Clear and firmly implemented strategic plan
In 2019, based on the BLM model, with the participation of all core team members, the Company
reached a consensus and determined the mid-term strategic plan for 2020-2024 after in-depth and
sufficient discussions. The mid-term strategic plan was formulated based on the guidelines of "Persistin g
in doing the difficult but correct work, moving towards the forefront of industrial value chain, and buildin g
a complete industrial chain".
After the mid-term strategic plan is completed, the Company organizes an annual review and update in
the middle of each year to ensure that the ten key tasks formulated around the plan keep pace with the
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times. Based on the mid-term strategic plan, the Company formulates the annual business plan, annual
department work plan and personal PBC. After goal-splitting level by level, it forms a strategic plan
implementation map, summarizes, reviews and assesses the implementation every quarter, and proposes
the next improvement plan to ensure that all staff focus on strategic planning and annual work plans, and
work together to achieve the goals.
3. A professional, committed and international core team
The Company has nurtured a stable operation team. For more than 20 years, the operation team led by
founding shareholders, Wicky Wang, Sun Guoqing, Cathy Chiu, Yuan Liangguo and Liu Yuanqiang, has
focused on the sector of crop protection products. They have a profound expertise and rich hands-on
experiences with insights into segmented markets and development trends globally.
The Company's vision is "To be a Global Leading Crop Protection Company" and its mission is "All
about Growing". The core values of the Company are “Customer Oriented; Rapid Response; Constant
Effort; Open and Inclusive; Together We Work; Together We Win". With the guidance of the vision,
mission and core values, and by practicing them, the Company builds cultural identities and unity of team
members. Through continuously improving positions, salaries and benefits, performances and trainin g
systems, the Company builds an international team to facilitate global business expansion.
To fully implement the core value of "Together We Win", the Company has launched a restricted
share incentive plan for excellent core members of the operational team other than the foundin g
shareholders in 2021. This will be an integral part of the Company's efforts in continuously improving the
combined system of positions, salaries and benefits, performances and training, with an aim to build a
united international team who will give collective efforts towards shared goals.
4. R&D and innovate support for advanced manufacturing
Since 2017, with the improvement of national security and environmental protection management
requirements and law enforcement, non-compliant and technological backward production capacity in the
domestic crop protection manufacturing industry has been phased out. Large compliant active
pharmaceutical ingredient manufacturers have gotten into a favorable development and growth cycle that
is expected to last for quite a long time. During this cycle, more and more active ingredient single product s
are seeking technological breakthroughs in automatic production, continuity, environmental protection and
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other aspects to meet the requirements of laws& regulations and stable production. Once they achieve the
breakthroughs, they can expand the production into larger scale as to dominate the global market in that
product.
The Company has spotted this trend on the active pharmaceutical ingredient manufacturing at an early
time, and thus shifted its resources of R&D and innovation to the advanced manufacturing of active
ingredient single product ingredients in 2019. To achieve large-scale production of active ingredients by
utilizing globally leading technologies, on basis of the network built in the course of the long-term
international market expansion and the Company’s international vision, the Company has actively
gathered top experts from varied segmented domains and optimized the R&D work flow. So far, the
Company has set up an international technology team with globally leading expertise and a science-based,
rigorous, efficient and systematic work flow. That has given strong support to the successful execution and
stable operation of the active ingredients synthesis program in the long-term planning.
According to the Company’s medium-term planning, the main measures and focus of the Company in
R&D and innovation are as follows:
(1) Select from expired patents the target products that are instrumental for expanding into multiple
markets on the globe and that have the potential to create a huge market. Another crucial factor is that
these products must offer a large room for technological improvement. The Company refuses to engage in
low-level repeated production and never advances prematurely in blind pursuit of quantity. The Company
only invests for active ingredient products when it is confident that it can take the lead in terms of
techniques and production scale of the niched markets worldwide for these products.
(2) Select active ingredients that are instrumental for the Company's market expansion and that have
great market potential from soon-to-expire patents and be the first to start planning for those components
worldwide The Company is determined to become the leader in exploring the market of such active
ingredients in their post-patent period.
(3) Research, develop and launch differentiated agents with the guidance of the pain points of end
markets around the globe. This type of programs has seen considerable success on many target markets.
The Company has summarized the methodology from the practice and paid full efforts in implementin g
the methodology.
5. Broadly covered global marketing network
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The Company's business covers the world, with four manufacturing bases in Wei Fang, Qingdao
(Shandong Province, China), Pingluo (Ningxia Province, China) and Argentina in South America. The
Company has set up over 60 subsidiaries overseas with its businesses in over 80 countries. With stron g
global registration competence, the Company is expanding its global marketing network at high speed.
According to the Company's medium-term strategic plan (updated in 2022), in terms of the
construction of "Quick Market Access Platform", the Company will complete the preliminary stage of the
project in all major markets except the United States, Canada and Japan by 2024. In addition, the Company
will complete the project in all major markets between 2025 and 2029 to complete the construction of the
"Quick Market Access Platform". The Company will implement the plan for running self-branded B2C
operations in at least 25 new target countries by the end of 2024.
6. Based on the complete industrial chain and thorough understanding of the whole process,
THE Company emerges from China and serves the world with the advantages of "Light Structure,
Fast response".
The Company has built a complete industrial chain involving research and development of active
pharmaceutical ingredients, manufacturing, branding towards the global market, trading channels, sales
and services from the factory to the farm. The Company also has a thorough understanding of the whole
industrial chain and can make values in each section. By leveraging its own productivity, strong supply
chain in China and a global marketing network, the Company responds to changes on the supply side, cost
side and global market rapidly, which features as "Light Structure, Fast response". It originates from China
and serves the world.
The global marketing network enables the Company to gain insights in the market dynamics and
advert risks of blind investment in R&D and manufacturing side.
The global vision, international professional team and its core values of "Open and Inclusive, Together
We Win” also help the Company successfully integrate the upstream side and downstream side of the
global industrial chain as well as grow rapidly in the capital market.
III. Analysis on main businesses
Rainbow's present medium-term strategic plan (2020-2024) was drawn under the guiding principle of
"Persisting in doing the difficult but correct things, moving towards the forefront of industrial value chain,
and building a complete industrial chain". On basis of this medium-term strategic plan, the Company will
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continue focusing on R&D and innovation-backed advanced manufacturing and improving the globa l
marketing network. Following is the summary of progresses made in these two aspects in this year.
I. R&D and innovation-backed advanced manufacturing
1. Team building: In 2022, the Company has recruited 44 new staff to the technology sector, includin g
1 doctorate holder and 22 master's degree holders, through recruitment campaigns in China aiming at both
fresh graduates and experienced professionals. Meanwhile, with a wide expertise network build through
years in the international market and an international vision, the Company has actively integrated top
experts in segmented domains and further improved R&D processes. So far, the Company has
preliminarily built an international technology team with top expertise and a science-based, rigorous,
effective and systematic work flow which provides strong support o successful construction and stable
operation of programs in the Company planning.
2. Project planning: Under the guidance of the Company's medium-term strategic plan, by leveragin g
the Company's advantages in sharp market sensitivity and full transparent industrial chain, the Company
has selected systematic, rigorous and targeted products for medium-term product planning. In terms of
manufacturing active ingredients, there are 7 important active ingredients with expired patents and 3
important active ingredients with soon-to-expire patents in the R&D chain. They are all handled by
different project teams in steady progress.
3. Progress of implementation: In terms of manufacturing active ingredients, the Company has
developed and optimized processing technologies of manufacturing important active ingredients based on
goals of automation, continuity and environmental protection to make the processing more refined and
chemical-based. So far, a first-of-its-kind full-process continuous green processing chain for an active
ingredient built in China has been put into operation. A project for full-chain continuity transformation of
an active ingredient is in progress with its detailed design completed and is expected to be put into
production in early 2023. Two projects for full-chain continuity transformation of active ingredients are in
the stage of key equipment development (expected to be completed in the second half of 2022) and are
expected to be ready for implementation in 2023. Two active ingredients are expected to complete
development in the second half of 2023 and get ready for implementation in 2024. One active ingredient is
expected to complete development in the second half of 2024 and get ready for implementation in 2025.
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The successful execution and stable operation of each project in the medium-term strategic plannin g
will gradually improve the whole industrial chain of Rainbow and provide strong support to the expansion
of the global market.
（II）Improving the Global Marketing Network
1. Team building: The marketing and registration team has rapidly expanded through recruitment
campaigns at domestic universities and colleges, social recruitment and local recruitment in different
countries. Especially after enhancing recruitment of local staff in foreign countries, the set-up and
management of international teams has become more systematic and mature.
2. Market expansion: With the pandemic raging abroad, the domestic market team has made efforts to
expand outbound. While deepening the business in existing target markets, the team has continuously
expanded new market and accelerated construction of the global marketing network.
(1) Completed in-depth market research on Poland, Belarus, Iraq, Iran, Oman, Burkina Faso, Rwanda,
Burundi, Namibia, Botswana, Mozambique, Algeria and other countries;
(2) Just established or about to establish wholly-owned or joint venture subsidiaries or offices in
Russia, Kazakhstan, Rwanda, Angola, Botswana, etc.;
(3) Built local teams in Brazil, Russia, Kazakhstan, Indonesia, Cote d'Ivoire, Nigeria, Rwanda, Angola
and other countries and started building distribution Rainbow brand local areas;
3. Global registration as the construction of the global marketing network accelerates, the Company
also pays more efforts and accelerates the global registration layout.
(1) Expanded the global registration team rapidly, from 119 team members in 2021 to 149 at present.
(2) Continuously increased input in global registration, with a year-on-year increase of about RMB 21
million for the first half of 2022 in global registration fees.
(3) Initiated registrations in Belarus, Iran, Rwanda, Botswana, Armenia, Bangladesh and other target
countries. Invested more resources in existing registered countries and obtained more registrations, to
enrich the product portfolio and meet demands in different countries.
(4) As of August 18, 2022, the Company has 267 domestic registrations in China and 4,459 overseas
registrations, including 14 new registrations in Brazil, 3 new registrations in Argentina, 21 new
registrations in Mexico, 6 new registrations in Australia, 3 new registrations in Russia, 9 new registrations
in South Africa, 1 new registration in India and 4 new registrations in South Korea. In the European Union,
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12 new active ingredients were registered. In addition, the Company obtained its first certificates in Egypt,
Serbia, Cote d'Ivoire, Tanzania, Armenia, Uzbekistan and other countries.
The Company is accelerating the construction of global marketing network comprehensively and
orderly according to the mid-term strategic planning.
III. Operation Analysis for the First Half of 2022
Each task has been implemented and completed according to the medium-term strategic plan and
annual work plan, but looking forward, there are still obvious gap in the Company capacity.
1. The overall operation of the Company is in good form and order. Each task has been implemented
according to the medium-term strategic plan and annual work plan. Both the progress and quality of key
tasks match expectations.
2. The operation team fully leverages the advantages of " Light Structure, Fast Response" to embrace
major market changes and seize various opportunities in the market with ease, effectively reducing and
controlling operational risks and achieving good business performance.
3. The global marketing network has been built at higher speed than expected. Satisfactory progresses
have been made in deepening the market end and optimizing the business model.
4. During the Company's globalized operation, it also needs to continuously improve its capabilities,
including the capability for the advanced manufacturing of important active ingredients supported by R&D
and innovation; the globalized operation capability based on an adapted management system; and the
capability to build an excellent end-to-end process system in line with Rainbow’s business, and guarantee
the implementation of processes.
Year-on-Year Changes of Key Financial Data
Unit: RMB
Year-on-year increase
Q1 2022 Q1 2021 Reason for change
or decrease
Mainly caused by
Operating income 7,778,575,013.04 4,014,068,101.11 93.78% business growth during
the reporting period
Mainly caused by cost
growth due to revenue
Operating cost 6,135,158,335.89 3,378,176,056.48 81.61%
growth during the
reporting period
Mainly caused by
Sales expenses 124,826,972.72 94,862,308.79 31.59% payroll increase during
the reporting period
Management expenses 199,428,267.71 104,458,002.85 90.92% Mainly caused by
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increase in share
incentive expenses
during the reporting
period
Mainly caused by
increase in exchange
Financial expenses -158,696,072.32 34,517,882.22 -559.75%
gains during the
reporting period
Mainly caused by
increase in profits
Income tax expenses 126,584,766.47 54,394,181.87 132.72%
during the reporting
period
Mainly caused by
increase in R&D
R&D investment 243,492,424.68 108,834,800.99 123.73%
investment during the
reporting period
Mainly caused by
increase in collected
Net cash flow from payments due to year-
686,193,459.42 -468,457,354.13 250.22%
operating activities on-year revenue
growth during the
reporting period
Mainly caused by
decrease in proceeds
Net cash flow in from currency forward
-202,457,537.94 -32,773,513.39 -517.75%
investment activities contracts settlement
during the reporting
period
Mainly caused by
increase in payment of
Net cash flow from
-970,572,681.73 462,794,602.22 -309.72% financing deposit
financing activities
during the reporting
period
Mainly caused by a
large amount of net
Net increase in cash cash outflow from
-506,131,558.04 -127,397,147.14 -283.55%
and cash equivalents financing activities
during the reporting
period
Significant changes occurred in the composition or source of profits during the reporting period
□ Applicable Not applicable
No significant change occurred in the composition or source of profits during the reporting period.
Circumstances where products or services accounting for more than 10%
Applicable □ Not applicable
Unit: RMB
Year-on-year
Year-on-year Year-on-year
Operating Gross profit change of
Operating cost change of change of gross
income margin operating
operating cost profit margin
income
By product or service
Herbicide 6,759,532,107.80 5,348,909,422.01 20.87% 109.77% 96.06% 5.53%
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Ⅳ. Analysis on Non-core Businesses
Applicable □ Not applicable
Unit: RMB
Proportion of total Whether it is
Amount Causes
profits sustainable
Mainly due to
investment returns
Investment returns 15,566,659.92 1.51% gained from disposal of No
tradable financial
assets
Mainly due to changes
Profits and losses of in fair values of
-99,157,570.00 -9.60% No
changes in fair values tradable financial
assets
Mainly caused by the
reversal of reserve for
Asset Impairment 774,443.37 0.07% inventory depreciation No
during the reporting
period
Mainly caused by
Non-operating income 8,616,238.16 0.83% government subsidies No
received
Mainly caused by non-
Non-operating
19,900,077.04 1.93% current assets scrap No
expenses
loss
Mainly caused by
Credit impairment -98,767,238.19 -9.56% credit impairment loss No
of accounts receivable
V. Analysis on Assets and Debts
1. Significant changes in asset composition
Unit: RMB
End of Q1 2022 End of 2021
Proportion Proportion Increase/Decrease Notes on significant
Amount in total Amount in total in proportion changes
assets assets
Mainly caused by
Monetary increase in collected
4,066,263,878.39 32.15% 3,724,744,059.71 36.12% -3.97%
funds payments during the
reporting period
Mainly caused by
increase in accounts
Accounts
3,863,200,110.55 30.54% 2,328,358,879.35 22.58% 7.96% receivable due to
receivable
revenue growth during
the reporting period
Contracted
0.00%
assets
Caused by increase in
Inventory 1,907,512,031.52 15.08% 1,775,113,092.67 17.21% -2.13% inventory levels at the
end of the reporting
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period
Investment
0.00%
real estate
Long-term
equity 1,555,862.56 0.01% 1,810,538.69 0.02% -0.01%
investment
Mainly caused by
transfer in completion
projects of
Fixed assets 1,624,884,086.27 12.85% 1,218,635,770.03 11.82% 1.03%
construction in
progress during the
reporting period
Mainly caused by the
transformation of
Construction completed construction
98,100,752.58 0.78% 281,855,456.95 2.73% -1.95%
in progress in progress to fixed
assets during the
reporting period
Assets with
24,143,283.78 0.19% 18,876,699.07 0.18% 0.01%
rights of use
Mainly caused by
increase in fund
Short-term
650,278,486.48 5.14% 550,348,417.31 5.34% -0.20% demand due to
loan
business growth during
the reporting period
Mainly caused by
Contract increase in advances
102,536,938.43 0.81% 45,096,633.96 0.44% 0.37%
liability received during the
reporting period
Long-term
18,820,048.03 0.15% 25,555,537.87 0.25% -0.10%
loan
Lease liability 19,359,651.46 0.15% 13,312,230.04 0.13% 0.02%
2. Assets and liabilities measured in fair value
Applicable □ Not applicable
Unit: RMB
Changes of
Changes in
gain or loss Impairment Purchase
accumulative Sales amount
in fair accrued amount
Opening fair values during the Other Ending
Item values during the during the
balance that are reporting changes Balance
during the reporting reporting
counted into period
reporting period period
equity
period
Financial assets
1. Trading
financial
assets
200,000,0 6,000,000 206,000,00
(derivative
00.00 .00 0.00
financial
assets
excluded)
2. 48,922,28 - 6,080,528 3,214,760,600. 0.00
22
Derivative 3.50 99,157,570. ,400.00 00
financial 00
assets
Sub-total of -
248,922,2 6,086,528 3,214,760,600. 206,000,00
financial 99,157,570.
83.50 ,400.00 00 0.00
assets 00
-
The above 248,922,2 6,086,528 3,214,760,600. 206,000,00
99,157,570.
total 83.50 ,400.00 00 0.00
00
Financial 50,235,286.
0.00
debts 50
Other changes
N/A
Whether there is any significant change to the Company's main asset measurements during the reporting period
□ Yes No
VI. Registration Form for Survey, Discussion, Interview and Other Activities During the
Report Period
Applicable □ Not applicable
Main content of
the discussion
Activity Index for details of the
Time Site Guest type Guest and the
type activity
information
provided
1. Industry analysts from 8
securities companies
including Northeast
Securities, Tianfeng
Securities, CITIC
Securities/CICC, Guangfa
Securities, Sinolink
Securities, Guosheng
Securities and Orient Current
Securities attended the situation of the For details of the
meeting; company, meeting, see the Record
2. Fund managers and operating of the Investor Relations
Friday,
Online Telephone researchers from 65 funds conditions for Activity on April 1, 2022
April 1, Organization
meeting meeting and investment 2021 and the disclosed by the
2022
management companies, first quarter of Company on April 3,
including Taikang Asset 2022, and future 2022 on
Management, Fullgoal development www.cninfo.com.cn.
Fund, Foresight Fund, plans
Zhong Ou Asset
Management, Yinhua
Fund, New China Asset
Management, Guotai Fund,
Dacheng Fund and China
Universal Asset
Management (CUAM)
attended the meeting;
Thursday, Panorama Other Other All investors Mainly Panorama Roadshow
23
April 7, answered the (http://rs.p5w.net)
2022 Roadshow questions "Annual Performance
related to Presentation of 2021"
investor
concerns
24
Section III Company Governance
I. Information About the Annual and Extraordinary General meetings of Shareholders
Held During the Reporting Period
1. General Meeting of shareholders during the reporting period
Investor
Disclosure
Meeting No. Meeting type participation Meeting date Meeting resolution
date
ratio
The first For details, see Notice of Resolution
extraordinary Wednesday, Wednesday, of the First Extraordinary General
Extraordinary
general meeting of 77.01% January 12, January 12, Meeting of 2022 (2022-002) published
general meeting
shareholders in 2022 2022 by the Company on
2022 www.cninfo.com.cn.
For details, see the Company's
Annual general
Announcement of Resolutions of the
meeting of Annual general Thursday, Thursday,
77.08% Annual General Meeting of 2021
shareholders of meeting April 21, 2022 April 21, 2022
(2022-013) published on
2021
www.cninfo.com.cn.
II. Changes of directors, supervisors and senior management
□ Applicable Not applicable
There is no change to the Company's directors, supervisors and senior management during the reporting period, as detailed in the
2021 Annual Report.
III. The Company's Profit Distribution and Conversion of Capital Reserve Fund into Share
Capital During the Reporting Period
□ Applicable Not applicable
The Company did not plan to pay cash dividends, give out bonus shares, or convert capital reserve into share capital in the first
half the year.
IV. Implementation of the Company's equity incentive plan, employee stock ownership plan
or other employee incentive measures
Applicable □ Not applicable
1. Equity incentives
On October 14, 2021, the Company held the 25th meeting of the third Board of Directors, deliberated
and approved the Proposal on the Company's Incentive Plan (Draft) for Restricted Shares (2021) and Its
Abstract, the Proposal on Measures for the Administration of Implementation Assessment of the
25
Company's Incentive Plan for Restricted Shares (2021), as well as other proposals. As the Company
revised part of relevant contents in the original draft of incentive plan, on October 20, 2021, the Company
held the 26th meeting of the third Board of Directors of the Company, which deliberated and approved the
Proposal on the Company's Incentive Plan (Revised Draft) for Restricted Shares (2021) and Its Abstract,
the Proposal on Measures for the Administration of Implementation Assessment of the Company's
Incentive Plan for Restricted Shares (2021) (Revised Draft), as well as other proposals. On November 1,
2021, the Company held the 7th extraordinary shareholders' meeting of 2021, which deliberated and
approved the Proposal on the Company's Incentive Plan (Revised Draft) for Restricted Shares (2021) and
Its Abstract, the Proposal on Measures for the Administration of Implementation Assessment of the
Company's Incentive Plan for Restricted Shares (2021) (Revised Draft), and the Proposal on Requesting
the Shareholders' Meeting to Authorize the Board of Directors to Handle Matters Associated with Equity
Incentives, as well as other proposals.
On November 3, 2021, the Company held the 28th meeting of the third Board of Directors, deliberated
and approved the Proposal on Granting Restricted Shares to Incentive Objects for the First Time,
consenting to grant 4.9319 million Restricted Shares II to 153 eligible incentive objects at the price of
RMB 25.06/share on November 3, 2021 as the first grant date.
Within the reporting period, the reserved part of the above-mentioned equity incentive plan has not
been enforced yet for the time being.
26
Section IV. Financial Report
I. Audit Report
Whether the Half-Year Report is audited
□ Yes No
The Company's Half-Year Report has not been audited.
II. Financial Statements
The currency of the statements in the financial notes is: RMB
1. Consolidated balance sheet
Prepared by: Shandong Weifang Rainbow Chemical Co., Ltd.
Thursday, June 30, 2022
Unit: RMB
Item Thursday, June 30, 2022 Saturday, January 1, 2022
Current assets:
Monetary funds 4,066,263,878.39 3,724,744,059.71
Deposit reservation for balance
Lending to banks and other financial
institutions
Financial assets held for trading 206,000,000.00 200,000,000.00
Derivative financial assets 48,922,283.50
Notes receivable 56,836,089.47 35,385,609.76
Accounts receivable 3,863,200,110.55 2,328,358,879.35
Receivables financing 2,773,120.00 100,000.00
Pre-payments 96,648,018.81 77,313,374.04
Premium receivable
Re-insurance accounts receivable
Reserves for re-insurance contract
receivable
Other receivables 15,602,852.35 11,576,269.72
Including.: interest receivable
Dividends receivable
Financial assets purchased under resale
agreement
Inventory 1,907,512,031.52 1,775,113,092.67
Contracted assets
Assets held for sale
Non-current assets that mature within
27
one year
Other current assets 343,235,615.23 264,431,341.13
Total current assets 10,558,071,716.32 8,465,944,909.88
Non-current assets:
Disbursed loans and advances
Debt investments
Other debt investment
Long-term receivables
Long-term equity investment 1,555,862.56 1,810,538.69
Other equity instrument investment
Other non-current financial assets
Investment real estate
Fixed assets 1,624,884,086.27 1,218,635,770.03
Construction in progress 98,100,752.58 281,855,456.95
Productive biological assets
Oil and gas assets
Assets with rights of use 24,143,283.78 18,876,699.07
Intangible assets 124,691,678.41 118,003,684.46
Development expenditure
Goodwill 49,941,550.10 26,949,350.10
Long-term deferred expenses 2,060,020.87 1,972,932.08
Deferred income tax assets 108,600,837.36 46,893,086.34
Other non-current assets 56,684,046.62 130,713,116.29
Total non-current assets 2,090,662,118.55 1,845,710,634.01
Total assets 12,648,733,834.87 10,311,655,543.89
Current liabilities:
Short-term loan 650,278,486.48 550,348,417.31
Borrowings from the central bank
Borrowing from banks and financial
institutions
Financial liabilities held for trading
Derivative financial liabilities 50,235,286.50
Notes payable 4,452,857,300.80 3,369,427,627.30
Accounts payable 1,069,197,958.85 879,276,036.26
Advance receipts 2,624,536.52
Contract liability 102,536,938.43 45,096,633.96
Financial assets sold for repurchase
Deposits and interbank deposits received
Amount received from agency trading of
securities
Amount received from agency
underwriting of securities
Payroll payable 154,965,022.10 154,700,982.42
28
Taxes payable 174,838,857.41 83,154,482.55
Other payables 82,625,691.71 29,657,941.65
Including: Interests payable
Dividends payable 50,972,769.40
Charges and commissions payable
Re-insurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
18,767,485.56 19,679,032.26
year
Other current liabilities 47,695,617.95 37,357,003.10
Total current liabilities 6,803,998,645.79 5,171,322,693.33
Non-current liabilities:
Provision for insurance contracts
Long-term loan 18,820,048.03 25,555,537.87
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liability 19,359,651.46 13,312,230.04
Long-term payables 0.00
Long-term payroll payable
Accrued liabilities 840,000.00
Deferred income 13,595,165.02 13,950,734.80
Deferred income tax liabilities 38,644,441.50 43,570,565.25
Other non-current liabilities
Total non-current liabilities 90,419,306.01 97,229,067.96
Total liabilities 6,894,417,951.80 5,268,551,761.29
Owner’s equity:
Share capital 276,180,000.00 276,180,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 2,252,960,628.75 2,226,848,878.76
Less: Treasury stock
Other comprehensive income -1,875,565.59 -6,390,755.46
Special reserve 18,411,253.10 14,783,485.63
Surplus reserve 158,674,657.07 158,674,657.07
General risk reserve
Undistributed profit 2,896,219,741.13 2,238,628,036.71
Total owners' equity attributed to parent
5,600,570,714.46 4,908,724,302.71
company
Minority shareholder’s interest 153,745,168.61 134,379,479.89
Total owner’s equity 5,754,315,883.07 5,043,103,782.60
Total liabilities and owners’ equity 12,648,733,834.87 10,311,655,543.89
Legal Representative: Wicky Wang Chief Accountant in Charge: Xing Bingpeng Chief of Accounting Institution: Zhang Baolin
29
2. Consolidated income statement
Unit: RMB
Item First half year of 2022 First half year of 2021
I. Gross Operating Income 7,778,575,013.04 4,014,068,101.11
Including: Operating income 7,778,575,013.04 4,014,068,101.11
Interest income
Premium earned
Handling charges and commissions
income
II. Total Operating Costs 6,556,877,860.64 3,727,407,888.87
Including: Costs of business 6,135,158,335.89 3,378,176,056.48
Interest expenses
Handling charges and commission
expenses
Surrender value
Net payments for insurance claims
Net withdrawal of reserve for insurance
responsibility contracts
Expenditures of policy dividend
Re-insurance expense
Taxes and surcharges 12,667,931.96 6,558,837.54
Sales expenses 124,826,972.72 94,862,308.79
Management expenses 199,428,267.71 104,458,002.85
R&D expenditures 243,492,424.68 108,834,800.99
Financial expenses -158,696,072.32 34,517,882.22
Including: Interest expenses 8,019,680.18 10,491,981.76
Interest income 22,929,043.59 12,400,285.56
Add: Other incomes 4,590,599.65 11,933,413.19
Income from investment (“－” for loss) 15,566,659.92 142,907,222.13
Including: Income from investment in
-254,676.13 -38,013.09
associated enterprises and joint ventures
Income recognized at termination of
financial assets measured at amortized
cost
Foreign exchange gain ("-" for loss)
Net exposure hedging income ("-" for
loss)
Income from changes in fair value ("-"
-99,157,570.00 -73,694,167.00
for loss)
Credit impairment losses ("-" for loss) -98,767,238.19 -12,089,270.72
Asset impairment losses ("-" for loss) 774,443.37 -2,060,154.61
Gains from asset disposal ("-" for loss)
III. Operating Profit ("-" for loss) 1,044,704,047.15 353,657,255.23
Add: Non-operating income 8,616,238.16 3,540,498.49
30
Less: Non-operating expenses 19,900,077.04 5,410,133.99
IV. Total Profit Before Tax (“-” for total
1,033,420,208.27 351,787,619.73
losses)
Less: Income tax expenses 126,584,766.47 54,394,181.87
V. Net Profit ("-" for net loss) 906,835,441.80 297,393,437.86
(I) Classification by business continuity
1. Net profit from continuing operations
906,835,441.80 297,393,437.86
(“-” for net loss)
2. Net profit from discontinued
operations (“-” for net loss)
(II) Classification by ownership
1. Net profit attributable to the owners of
887,649,644.42 274,776,174.40
the parent company
2. Profit or loss of minority shareholders 19,185,797.38 22,617,263.46
VI. Net Amount after Tax of Other
4,616,670.08 1,754,947.93
Comprehensive Income
Net amount of other comprehensive
income after tax attributed to the owners 4,515,189.87 4,028,001.72
of parent company
(I) Other comprehensive income that
cannot be reclassified into profit or loss
1. Changes due to re-measurement on
defined benefit plan
2. Other comprehensive income that
cannot be converted into profit and loss
under the equity method
3. Changes in fair value of other equity
instrument investments
4. Changes in the fair value of the credit
risk of the enterprise
5. Other
(ii) Other comprehensive income that
4,515,189.87 4,028,001.72
will be reclassified into profit and loss
1. Other comprehensive income that can
be converted to profit or loss under the
equity method
2. Changes in fair value for other
investment on bonds
3. Amount of financial assets reclassified
into other comprehensive income
4. Provision for credit impairment of
other creditor's rights investment
5. Cash flow hedge reserve
6. Difference of foreign currency
4,515,189.87 4,028,001.72
financial statement translation
7. Other
Net amount of other comprehensive
income after tax attributed to minority 101,480.21 -2,273,053.79
shareholders
VII. Total Comprehensive Income 911,452,111.88 299,148,385.79
Total comprehensive income attributed
892,164,834.29 278,804,176.12
to parent company owners
Total comprehensive income attributed
19,287,277.59 20,344,209.67
to minority shareholders
VIII. Earnings per Share:
(i) Basic earnings per share 3.21 1.33
31
(ii) Diluted earnings per share 3.19 1.33
For business combination under the same control in the current period, the net profit of the merged party before the business
combination is RMB , and the net profit of the merged party in the previous period is RMB .
Legal Representative: Wicky Wang Chief Accountant in Charge: Xing Bingpeng Chief of Accounting Institution: Zhang Baolin
3. Consolidated cash flow statement
Unit: RMB
Item First half year of 2022 First half year of 2021
I. Cash Flows Generated from Operating
Activities:
Cash received from sales of goods and
6,461,114,700.99 3,854,966,945.58
services
Net increase in deposit from customers
and interbank
Net increase in borrowing from central
bank
Net increase in borrowings from other
financial institutions
Cash receipts from premiums under
direct insurance contracts
Net cash receipts from re-insurance
business
Net cash receipts from policyholders'
deposits and investments
Cash receipts from interest, handling fees
and commissions
Net increase in capital borrowed from
banks and other financial institutions
Net increase in repurchase business
capital
Net cash received from securities trading
brokerage
Cash receipts from tax refunds 504,323,580.24 278,931,114.61
Cash received relating to other operating
35,384,695.17 26,251,227.15
activities
Subtotal of cash inflow in business
7,000,822,976.40 4,160,149,287.34
activities
Cash payments for goods acquired and
5,369,548,166.64 4,149,838,671.54
services received
Net increase in customer loans and
advances
Net increase in deposits in central bank
and interbank
Cash payments for original insurance
contract claims
Net increase in lending funds from banks
and other financial institutions
Cash payments for interest, fee and
commission
Cash payments for insurance
32
policyholder dividends
Cash payments to employees and on
265,666,321.40 223,086,182.77
behalf of employees
Cash payments for taxes 261,291,821.04 45,165,813.72
Other cash payments relating to
418,123,207.90 210,515,973.44
operating activities
Subtotal of cash outflow in business
6,314,629,516.98 4,628,606,641.47
activities
Net cash flow from operating activities 686,193,459.42 -468,457,354.13
II. Cash Flows from Investing Activities:
Cash receipts from investment
withdrawal
Cash receipts from return on investments
Net cash receipts from disposals of fixed
assets, intangible assets and other long- 4,292,092.61 4,195,491.22
term assets
Net cash receipts from disposal of
subsidiary or any other business unit
Other cash receipts relating to investing
9,566,659.92 142,945,235.22
activities
Subtotal of cash inflow in investment
13,858,752.53 147,140,726.44
activities
Cash payments to acquire or construct
fixed assets, intangible assets and other 203,631,593.67 179,914,239.83
long-term assets
Cash payments for investment 6,000,000.00
Net increase in pledged loans
Net cash payments to acquire subsidiary
6,684,696.80
and other business units
Other cash payments relating to
investment activities
Subtotal of cash outflow in investment
216,316,290.47 179,914,239.83
activities
Net cash flow in investment activities -202,457,537.94 -32,773,513.39
III. Cash Flows from Financing
Activities:
Cash received from capital contributions 2,554,868.00
Including: Cash received from
investment of minority shareholder from 2,554,868.00
subsidiary
Cash receipts from borrowings 562,562,107.20 305,774,601.38
Other cash receipts relating to financing
0.00 495,073,393.81
activities
Subtotal of cash inflow in financing
565,116,975.20 800,847,995.19
activities
Cash repayments of borrowings 501,277,641.68 322,489,057.70
Cash payments for distribution of
dividends, profits, or cash payments for 199,032,814.94 12,755,217.99
interest expenses
Including: Dividends and profits paid to
minority shareholders by subsidiaries
Other cash paid related to financing
835,379,200.31 2,809,117.28
activities
Subtotal of cash outflow in financing
1,535,689,656.93 338,053,392.97
activities
Net cash flow from financing activities -970,572,681.73 462,794,602.22
33
IV. Effect of Exchange Rate Changes on
-19,294,797.79 -88,960,881.84
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
-506,131,558.04 -127,397,147.14
Equivalents
Add: Beginning balance of cash and cash
2,032,302,255.51 719,642,914.12
equivalents
VI. Closing Balance of Cash and Cash
1,526,170,697.47 592,245,766.98
Equivalents
4. Consolidated statement of changes in owners' equity
Amount in the current period
Unit: RMB
First half year of 2022
Equity attributed to owners of the parent company
Minority shareholder’s
Total owner’s equity
Other equity
General risk reserve
Undistributed profit
Surplus reserve
comprehensive
Capital reserve
Less: Treasury
instruments
Share capital
interest
Item
Special reserve
Subtotal
income
Other
Other
stock
Perpetual
Preferred
bonds
shares
Other
2,226,848,878.76
14,783,485.63
2,238,628,036.71
4,908,724,302.71
5,043,103,782.60
-6,390,755.46
276,180,000.00
158,674,657.07
134,379,479.89
I. Balance at
the end of the
previous year:
Add: Changes
in accounting
policies
Correction of
errors from
previous period
Business
combination
under common
control
Other
14,783,485.63
134,379,479.89
-6,390,755.46
276,180,000.00
2,226,848,878.76
158,674,657.07
2,238,628,036.71
4,908,724,302.71
5,043,103,782.60
II. Opening
balance of the
current year
26,111,749.99
19,365,688.72
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4,515,189.87
3,627,767.47
657,591,704.42
691,846,411.75
711,212,100.47
III. Changes in
Current Period
(“-” for
decrease)
34
2.
1.
equity
income
holders
reserve
reserve
4. Other
4. Other
(I) Total
payments
of surplus
2. Capital
instrument
by owners
by owners
(III) Profit
from other
distribution
contributed
(II) Capital
1. Ordinary
contribution
share-based
shareholders)
to owners (or
and reduction
Appropriation
Appropriation
recognized in
3. Distribution
of general risk
owners' equity
3. Amounts of
comprehensive
shares invested
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 26,111,749.99 26,111,749.99
0.00 0.00
0.00 0.00 4,515,189.87
35
0.00 0.00
0.00 0.00
0.00 0.00
-
-230,057,940.00 0.00 887,649,644.42
230,057,940.00
0.00 0.00
-
0.00 0.00 0.00 -230,057,940.00 0.00 26,111,749.99 0.00 0.00 26,111,749.99 892,164,834.29
230,057,940.00
0.00 0.00 19,287,277.59
-
0.00 0.00 0.00 -230,057,940.00 0.00 26,111,749.99 0.00 0.00 26,111,749.99 911,452,111.88
230,057,940.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(IV) Internal
carry-over of
owners' equity
1. Capital
0.00
0.00
reserve
converted into
capital (or share
capital)
2. Surplus
0.00
0.00
reserve
converted into
capital (or share
capital)
0.00
0.00
3. Recovery of
losses by
surplus reserves
4. Carry-over
0.00
0.00
retained
earnings from
defined benefit
plan changes
5. Carry-over
0.00
0.00
retained
earnings from
other
comprehensive
income
0.00
0.00
6. Other
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
78,411.13
3,627,767.47
3,627,767.47
3,706,178.60
(V) Special
reserves
16,550,171.45
16,550,171.45
357,717.98
16,907,889.43
1. Withdrawal
in the current
period
12,922,403.98
12,922,403.98
-279,306.85
13,201,710.83
-
-
-
2. Use in the
current period
0.00
0.00
(VI) Other
36
Other
control
policies
(“-” for
Business
decrease)
Item
II. Opening
errors from
combination
current year
I. Balance at
in accounting
Correction of
the end of the
the end of the
current period
balance of the
Add: Changes
previous year:
IV. Balance at
Current Period
III. Changes in
under common
previous period
Amount of 2021
207,130,000.00 207,130,000.00 Share capital 276,180,000.00
Preferred
0.00
shares
Perpetual
0.00
bonds
instruments
Other equity
Other 0.00
858,290,440.12 858,290,440.12 Capital reserve 2,252,960,628.75
Less: Treasury
0.00
stock
Other
4,028,001.72 -27,063,944.13 -27,063,944.13 comprehensive -1,875,565.59
37
income
2,364,231.25 16,936,043.63 16,936,043.63 Special reserve 18,411,253.10
114,159,831.52 114,159,831.52 Surplus reserve 158,674,657.07
First half year of 2021
General risk reserve 0.00
Equity attributed to owners of the parent company
274,776,174.40 1,632,674,825.81 238,953.96 1,632,435,871.85 Undistributed profit 2,896,219,741.13
Other 0.00
281,168,407.37 2,802,127,196.95 238,953.96 2,801,888,242.99 Subtotal 5,600,570,714.46
Minority shareholder’s
17,690,386.21 125,621,702.52 125,621,702.52 153,745,168.61
interest
298,858,793.58 2,927,748,899.47 238,953.96 2,927,509,945.51 Total owner’s equity 5,754,315,883.07
Unit: RMB
274,776,174.40
278,804,176.12
20,344,209.67
299,148,385.79
4,028,001.72
(I) Total
comprehensive
income
(II) Capital
contribution
and reduction
by owners
1. Ordinary
shares invested
by owners
2. Capital
contributed
from other
equity
instrument
holders
3. Amounts of
share-based
payments
recognized in
owners' equity
4. Other
-3,188,882.00
-3,188,882.00
(III) Profit
distribution
1.
Appropriation
of surplus
reserve
2.
Appropriation
of general risk
reserve
-3,188,882.00
-3,188,882.00
3. Distribution
to owners (or
shareholders)
4. Other
(IV) Internal
carry-over of
owners' equity
1. Capital
reserve
converted into
capital (or share
capital)
2. Surplus
38
reserve
converted into
capital (or share
capital)
3. Recovery of
losses by
surplus reserves
4. Carry-over
retained
earnings from
defined benefit
plan changes
5. Carry-over
retained
earnings from
other
comprehensive
income
6. Other
535,058.54
2,364,231.25
2,364,231.25
2,899,289.79
(V) Special
reserves
13,704,329.54
13,704,329.54
241,130.86
13,945,460.40
1. Withdrawal
in the current
period
293,927.68
-11,340,098.29
-11,340,098.29
-11,046,170.61
2. Use in the
current period
(VI) Other
-23,035,942.41
19,300,274.88
3,226,607,693.05
207,130,000.00
858,290,440.12
114,159,831.52
143,312,088.73
1,907,451,000.21
3,083,295,604.32
IV. Balance at
the end of the
current period
In the case of any deviation from the explanations presented hereof, the 2022 Half-Year Report in Chinese
version shall prevail.
SHANDONG WEIFANG RAINBOW CHEMICAL CO., LTD
Legal representative: Wicky Wang
Thursday, August 29, 2022
39