Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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
SHANDONG WEIFANG RAINBOW CHEMICAL CO.,LTD
Company
Chinese abbreviation of the
润丰股份
Company (if any)
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. Person/Way to Contact
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 Center, High-tech Zone, Jinan Financial Center, High-tech Zone, Jinan
City, Shandong Province City, Shandong Province
Tel 0531-83199916 0531-83199916
Fax 0531-83191676 0531-83191676
E-mail rfzqb@rainbowagro.com rfzqb@rainbowagro.com
III. 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
H1 2024 H1 2023
decrease
Operating income (RMB) 5,681,756,659.38 5,043,502,704.02 12.65%
Net profit attributable to
shareholders of the Company 181,794,252.02 424,390,802.78 -57.16%
(RMB)
Net profit attributable to
shareholders of the Company
176,034,252.23 419,498,286.91 -58.04%
excluding non-recurring gains
and losses (RMB)
Net cash flow from operating -138,751,214.78 -410,336,682.21 66.19%
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
activities (RMB)
Basic earnings per share
0.65 1.53 -57.52%
(RMB/Share)
Diluted earnings per share
0.65 1.52 -57.24%
(RMB/Share)
Weighted average return on
2.76% 6.77% -4.01%
net assets
Increase or decrease at the
end of this reporting period
End of this reporting period End of the previous year
compared with the end of the
previous year
Total assets (RMB) 15,436,142,454.55 14,897,954,098.13 3.61%
Net assets attributable to
shareholders of the Company 6,444,734,939.77 6,546,153,851.24 -1.55%
(RMB)
IV. 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
assets (including the write-off portion of 693,251.52
asset impairment provision)
Government subsidies included in
current gains and losses (excluding those
closely related to the Company's normal
operational business, in compliance with
3,323,943.70
national policies, received according to a
determined standard, and having a
continuous impact on the Company's
profits and losses)
Gains and losses arising from changes in
the fair value of financial assets and
financial liabilities held, and the gains
and losses from the disposal of these
442,401.49
financial assets and liabilities, excluding
those related to effective hedging
business connected with the Company's
normal operations
Other non-operating revenue and
expenditure other than those 727,061.99
mentioned above
Other gains and losses items that meet
the definition of non-recurring gains and 967,783.00
losses
Less: affected amount of income tax 383,346.83
Affected amount of minority
11,095.08
shareholders' equity (after tax)
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Total 5,759,999.79
Other gains and losses items that meet the definition of non-recurring gains and losses:
Applicable Not applicable
The refund of individual income tax handling fees is the only item of other gains and losses that meets the definition of non-
recurring gains and losses in the current reporting period.
Section II. Discussion and Analysis of Management of the Company
I. The Main Business of the Company During the Reporting Period
(I). The situation of the industry during the reporting period
1. Global crop protection market environment in H1 of 2024
(1) The overall demand for crop protection products in the global market has become normal and is on the strong side. The
prices of primary agricultural products remain at a historically reasonable median level. Farmers are willing to use pesticides, and
the planting area of agricultural products has not decreased, indicating that the rigid consumption demand of end consumers for
crop protection products is still there. According to the data from China's Customs for January to June 2024, the export volume
under HS code 3808 increased by 52.70% year-on-year during this period. This indicates that the global market still has normal
even strong demand for crop protection products.
(2) During the reporting period, the prices of most active ingredients of crop protection products have stabilized at low levels. On
June 30, 2024, the Sino-Agri price index for pesticide active ingredients was 76.14, representing a year-on-year decrease of
12.6%. However, while it is lower than the 80.19 recorded on December 31, 2023, the decline is relatively modest.
2. Global Crop Protection Market Outlook for 2024
(1) The prices of most crop protection active ingredients will continue to consolidate at the bottom. Most active ingredient prices
have fallen to the new historical lowest level or even below that level, reaching a point where they can hardly decline further.
However, due to the expansion and release of pesticide production capacity in China and India over the past three years, most
active ingredients will continue to be in a situation of oversupply, which means that the prices of most active ingredients will
continue to consolidate at the bottom.
(2) Product pricing at its historical bottom can fluctuate significantly in the short term as a result of episodic events, which makes
it more important to conduct inventory management and market strategy based on accurate decision-making and rapid
response.
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
(3) Dealers and end-users are significantly delaying their purchases. Due to the continuous decline in crop protection product
prices over the past year and ample market supply, dealers and end-users are postponing their purchasing decisions compared
to normal years. They prefer to wait until the last minute of the application season rather than planning or purchasing in advance,
which poses a significant challenge to the supply chain organization of crop protection product sellers.
(4) Market demand will continue to recover, and end-market prices will gradually return to rational levels. As high-cost
inventories are cleared and previous irrational low-price clear-out sales by various companies significantly decrease, most end-
markets are seeing a gradual increase in gross margins due to lower supply-side costs. Gross margins in the second half of the
year are expected to improve compared to the first half.
(5) The competitive landscape among leading global companies is adjusting more rapidly. This is marked by the continuous
expansion of the market share of non-patented crop protection products and the resulting growth acceleration of excellent
multinational companies in the non-patented protection product sector.
(II) Company operations during the reporting period
1. Operation analysis for the first half of 2024
(1) Impressive growth in B2C business: During the reporting period, the Company focuses intensively on growing its B2C segment,
with B2C revenue share rising from 31.11% in the first half of 2023 to 37.52% in the reporting period. The B2C segment achieves
a gross margin of 29.21%, with a year-on-year increase of 0.60%. In contrast, the B2B segment faces intense competition, with a
gross margin of 14.83% and a year-on-year decrease of 2.45%. The higher revenue share of the B2B segment adversely affects
the overall gross margin, which declines by 0.58%.
(2) Continued growth in insecticide and fungicide revenue: Revenue from insecticides and fungicides continues to grow, with its
share increasing from 18.05% in the first half of 2023 to 24.15% in the reporting period. The gross margin for insecticides and
fungicides is approximately 6% higher than the Company's traditional high-revenue herbicide category.
(3) Successful launch of new product category – biological products: The Company establishes a strategic plan for biological
products, assembles a dedicated global team, and has successfully launched the first batch of products, which have received
positive feedback. We are confident in achieving a revenue target of USD 10 million for 2024.
(4) The Company has significantly increased its investment in IT and process improvements, accelerating enhancements to its
global operational capabilities.
(5) The Company continues to increase investment in the B2C business and global registrations, driving the rapid growth of the
B2C segment and accelerating the approvals of diverse and high-quality product registrations globally, particularly in high-barrier
markets. We have now secured over 7,000 global registrations.
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
(6) Rapid growth in EU, North America, and Africa: The Company's Spanish subsidiary SARABIA, acquired in early 2023, and the
US subsidiary APEX, acquired in early 2024, have both integrated successfully and are experiencing rapid growth. We anticipate
continued strong growth in the EU and North America in the coming years. Our business in Africa, which began expanding in
2021, has also entered a rapid growth phase and is expected to continue growing strongly.
(7) Our business in Latin America, Asia-Pacific, and the Middle East is mature and continues to grow. Most countries have seen
stable increases in gross and net margins alongside the rising share of our B2C business. However, our business in certain
countries, especially Brazil, has been affected by a large amount of loss of unrealized exchange gains and losses arising from
significant currency devaluation, sales seasonality, and high-cost inventory, which have negatively impacted our overall
performance in the first half of this year in these countries.
2. Operational outlook for the second half of 2024
We expect market demand to continue recovering in the second half of 2024, with end-market prices gradually returning to
normal. As our B2C business revenue share continues to grow and our global operational capabilities improve, we anticipate that
the gross margins of most subsidiaries in target countries will increase, and operational quality will be improved significantly. The
foundation for the Company's healthy and stable growth remains solid, with a strong growth momentum.
We have completed the strategic planning for the next five years (2025-2029) in July and August. This timely planning will ensure
that the Company remains focused on "quality improvement and efficiency enhancement" during industry downturns and
intensifying competition. We aim to advance steadily, ensuring health, operational safety, and risk control while strengthening
and expanding our business.
All employees will focus on the key tasks of the new strategic plan, aiming to look upward and move forward. We will make
breakthroughs by building five critical capabilities that will become our core competitive strengths: global operational capability,
brand and channel development capability, efficient, accurate and agile supply chain decision-making capability, capabilities of
successful commercialization of key products, and high cost-performance and effective differentiated preparations technology
capability.
II. Analysis on Main Businesses
Overview
See related content in "I. The Main Business of the Company During the Reporting Period".
Year-on-Year Changes of Key Financial Data
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Unit: RMB
Year-on-year increase
H1 2024 H1 2023 Reason for change
or decrease
Operating income 5,681,756,659.38 5,043,502,704.02 12.65%
Operating cost 4,532,572,886.98 3,994,055,439.67 13.48%
Mainly caused by the
increase in overseas
employee
remuneration,
Sales expenses 267,719,127.15 150,264,768.24 78.16% registration fees, travel
expenses, consulting
fees, and promotional
expenses during the
reporting period
Management expenses 212,412,218.74 228,737,334.76 -7.14%
Mainly caused by
significant increase in
Financial expenses 310,963,592.68 -145,565,636.90 313.62%
exchange losses during
the reporting period
Income tax expenses 70,960,584.49 66,302,826.32 7.02%
R&D investment 150,650,332.37 126,654,808.20 18.95%
Mainly caused by the
Net cash flow from
-138,751,214.78 -410,336,682.21 66.19% year-on-year increase
operating activities
in collected payments
Net cash flow in
-354,739,714.20 -425,349,554.24 16.60%
investment activities
Mainly due to the
Net cash flow from increase in cash
715,610,089.11 423,248,244.58 69.08%
financing activities received from bank
loans
Net increase in cash
330,323,883.48 -415,720,363.05 179.46%
and cash equivalents
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
Gross Year-on-year Year-on-year
change of
Operating income Operating cost profit change of change of gross
operating
margin operating cost profit margin
income
By product or service
Major product-
4,246,255,524.03 3,465,843,830.88 18.38% 4.69% 6.98% -1.75%
Herbicide
Major product-
791,815,967.12 577,099,940.26 27.12% 66.55% 57.83% 4.03%
Insecticide
Major product-
580,255,873.17 451,114,119.00 22.26% 33.48% 30.53% 1.75%
Fungicide
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
III. Analysis on Non-Major Businesses
Applicable Not applicable
Unit: RMB
Proportion of total Whether it is
Amount Causes
profits sustainable
Mainly due to
investment gains from
Investment returns 26,115,170.54 9.09% the disposal of No
derivative financial
assets
Mainly due to changes
Profits and losses of in the fair value of
19,010,682.28 6.62% No
changes in fair values derivative financial
assets
Mainly due to the
Asset Impairment -739,835.93 -0.26% provision for inventory No
depreciation
Mainly due to incomes
Non-operating income 8,474,865.96 2.95% from scrapping non- No
current assets
Mainly due to making
compensation for
Non-operating
6,538,305.03 2.28% customer losses No
expenses
caused by quality
defects
Mainly caused by
Credit impairment -22,343,322.79 -7.77% credit impairment loss No
of accounts receivable
Mainly due to
Other income 3,850,926.70 1.34% government subsidies No
received
IV. Analysis on Assets and Debts
1. Significant changes in asset composition
Unit: RMB
End of this reporting period End of the previous year Increase/ Notes on
Proportion in Proportion in Decrease in significant
Amount Amount proportion changes
total assets total assets
Monetary
3,121,731,820.65 20.22% 3,271,577,916.51 21.96% -1.74%
funds
Accounts
4,585,654,847.59 29.71% 4,707,041,417.82 31.60% -1.89%
receivable
Inventory 3,879,749,709.30 25.13% 3,336,332,619.58 22.39% 2.74%
Investment real
8,200,121.02 0.05% 8,512,192.20 0.06% -0.01%
estate
Long-term
equity 1,224,240.06 0.01% 1,445,021.57 0.01% 0.00%
investment
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Fixed assets 2,178,242,379.43 14.11% 2,008,437,417.28 13.48% 0.63%
Construction in
344,527,308.70 2.23% 395,645,781.60 2.66% -0.43%
progress
Assets with
16,886,806.52 0.11% 14,463,991.44 0.10% 0.01%
rights of use
Mainly due to
the increase in
Short-term loan 3,140,646,770.51 20.35% 2,261,455,023.95 15.18% 5.17% short-term
loans in the
current period
Contract
57,775,336.59 0.37% 29,592,998.73 0.20% 0.17%
liability
Long-term loan 192,188,307.70 1.25% 77,624,331.91 0.52% 0.73%
Lease liability 9,205,123.18 0.06% 8,219,602.23 0.06% 0.00%
2. Main overseas assets
Applicable Not applicable
3. Assets and liabilities measured in fair value
Applicable Not applicable
Unit: RMB ten thousand
Changes of Changes in
Impairment Purchase
gain or loss in accumulative Sales amount
accrued amount
Opening fair values fair values during the Other Ending
Item during the during the
balance during the that are reporting changes Balance
reporting reporting
reporting counted into period
period period
period equity
Financial assets
1. Trading
financial assets
(derivative 600.00 275.26 600.00 275.26
financial assets
excluded)
2. Derivative
1,590.22 3,974.88 2,489.45 1,485.43
financial assets
Sub-total of
600.00 1,590.22 4,250.14 3,089.45 1,760.69
financial assets
Receivables
50.00 50.00 0.00
financing
The above total 650.00 1,590.22 4,250.14 3,139.45 1,760.69
Financial debts 414.16 310.85 92.22
Other changes
Whether there is any significant change to the Company's main asset measurements during the reporting period
Yes No
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
V. The Company's Profit Distribution and Conversion of Capital Reserve Fund into Share
Capital During the Reporting Period
Applicable Not applicable
Bonus shares per 10 shares (shares) 0
Dividends per 10 shares (RMB) (tax-inclusive) 1.80
Share capital base of the distribution plan (shares) 278,662,094
Cash dividend amount (RMB) (tax-inclusive) 50,159,176.92
Amount of cash dividends in other ways (such as share
0.00
repurchase) (RMB)
Total cash dividends (including other ways) (RMB) 50,159,176.92
Distributable profit (RMB) 1,781,950,331.05
Proportion of total cash dividends (including other ways) in
100.00%
total distributable profit
Details of the cash dividends distribution
If the development phase of the Company is in the growth phase and there exist material capital expenditure arrangements,
when making profit distribution, the proportion of cash dividends in this profit distribution shall be at least 20%
Details of the plan for profit distribution or capital reserve converted into share capital
Based on the total share capital of 278,662,094 shares on July 30, 2024, a cash dividend of RMB 1.80 (tax inclusive) will be
distributed to all shareholders for every 10 shares, and the remaining undistributed profits will be carried forward to the second
half of this year. Except for the above-mentioned cash dividend distribution, no share dividend is distributed this time, and there
is no conversion of capital reserve into share capital.
Section III. 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.
Sunday, June 30, 2024
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 3,121,731,820.65 3,271,577,916.51
Deposit reservation for balance
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Lending to banks and other financial
institutions
Financial assets held for trading 2,752,592.53 6,000,000.00
Derivative financial assets 14,854,334.92
Notes receivable 15,874,927.66 55,955,879.66
Accounts receivable 4,585,654,847.59 4,707,041,417.82
Receivables financing 500,000.00
Pre-payments 175,108,524.23 129,020,462.65
Premium receivable
Re-insurance accounts receivable
Reserves for re-insurance contract
receivable
Other receivables 90,704,763.23 44,646,181.87
Including.: interest receivable
Dividends receivable
Financial assets purchased under resale
agreement
Inventory 3,879,749,709.30 3,336,332,619.58
Where: Data resource
Contracted assets
Assets held for sale
Non-current assets that mature within
one year
Other current assets 286,410,808.65 329,901,506.56
Total current assets 12,172,842,328.76 11,880,975,984.65
Non-current assets:
Disbursed loans and advances
Debt investments
Other debt investment
Long-term receivables
Long-term equity investment 1,224,240.06 1,445,021.57
Other equity instrument investment
Other non-current financial assets
Investment real estate 8,200,121.02 8,512,192.20
Fixed assets 2,178,242,379.43 2,008,437,417.28
Construction in progress 344,527,308.70 395,645,781.60
Productive biological assets
Oil and gas assets
Assets with rights of use 16,886,806.52 14,463,991.44
Intangible assets 205,334,544.65 214,122,877.97
Where: Data resource
Development expenditure 115,599,813.72 36,791,601.49
Where: Data resource
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Goodwill 94,866,025.56 94,866,025.56
Long-term deferred expenses 22,223,240.38 34,125,613.10
Deferred income tax assets 125,985,300.04 117,262,810.63
Other non-current assets 150,210,345.71 91,304,780.64
Total non-current assets 3,263,300,125.79 3,016,978,113.48
Total assets 15,436,142,454.55 14,897,954,098.13
Current liabilities:
Short-term loan 3,140,646,770.51 2,261,455,023.95
Borrowings from the central bank
Borrowing from banks and financial
institutions
Financial liabilities held for trading
Derivative financial liabilities 922,206.24 4,141,579.45
Notes payable 3,186,508,732.46 4,057,148,069.12
Accounts payable 1,553,001,526.45 1,096,628,295.09
Advance receipts 212,056.37 232,358.87
Contract liability 57,775,336.59 29,592,998.73
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 152,187,735.62 218,457,162.23
Taxes payable 63,424,887.74 77,730,510.55
Other payables 167,519,684.40 81,107,290.26
Including: Interests payable
Dividends payable
Charges and commissions payable
Re-insurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
67,791,640.40 9,623,075.76
year
Other current liabilities 1,247,007.73 57,442,707.33
Total current liabilities 8,391,237,584.51 7,893,559,071.34
Non-current liabilities:
Provision for insurance contracts
Long-term loan 192,188,307.70 77,624,331.91
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liability 9,205,123.18 8,219,602.23
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Long-term payables
Long-term payroll payable
Accrued liabilities
Deferred income 10,777,796.13 11,713,887.21
Deferred income tax liabilities 59,828,236.73 67,145,243.72
Other non-current liabilities
Total non-current liabilities 271,999,463.74 164,703,065.07
Total liabilities 8,663,237,048.25 8,058,262,136.41
Owner’s equity:
Share capital 278,662,094.00 278,662,094.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 2,393,443,152.29 2,382,932,252.27
Less: Treasury stock
Other comprehensive income -76,676,697.01 -53,797,771.67
Special reserve 46,413,216.36 38,596,260.53
Surplus reserve 158,674,657.07 158,674,657.07
General risk reserve
Undistributed profit 3,644,218,517.06 3,741,086,359.04
Total owners' equity attributed to
6,444,734,939.77 6,546,153,851.24
parent company
Minority shareholder’s interest 328,170,466.53 293,538,110.48
Total owner’s equity 6,772,905,406.30 6,839,691,961.72
Total liabilities and owners’ equity 15,436,142,454.55 14,897,954,098.13
Legal Representative: Chief Accountant in Charge: Chief of Accounting Institution:
Wicky Wang Xing Bingpeng Zhang Baolin
2. Parent company balance sheet
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,613,777,089.29 2,068,062,646.26
Financial assets held for trading 0.00 0.00
Derivative financial assets 0.00 0.00
Notes receivable 287,192.00 8,126,473.00
Accounts receivable 5,553,962,493.32 4,702,695,819.76
Receivables financing 0.00 500,000.00
Pre-payments 204,793,180.03 128,913,766.54
Other receivables 382,277,459.97 827,880,813.07
Including.: interest receivable 0.00 0.00
Dividends receivable 0.00 0.00
Inventory 719,071,212.50 734,862,014.63
Where: Data resource
Contracted assets 0.00 0.00
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Assets held for sale 0.00 0.00
Non-current assets that mature within
0.00 0.00
one year
Other current assets 47,176,231.11 103,249,615.62
Total current assets 8,521,344,858.22 8,574,291,148.88
Non-current assets:
Debt investments 0.00 0.00
Other debt investment 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investment 624,321,060.99 624,541,993.45
Other equity instrument investment 0.00 0.00
Other non-current financial assets 0.00 0.00
Investment real estate 0.00 0.00
Fixed assets 1,041,859,022.15 970,475,370.21
Construction in progress 172,055,821.77 212,411,472.76
Productive biological assets 0.00 0.00
Oil and gas assets 0.00 0.00
Assets with rights of use 12,688,714.52 10,618,846.96
Intangible assets 38,186,270.00 39,286,592.63
Where: Data resource
Development expenditure 107,509,528.91 36,742,669.45
Where: Data resource
Goodwill 0.00 0.00
Long-term deferred expenses 3,311,926.61 3,428,134.55
Deferred income tax assets 24,036,804.78 23,421,436.66
Other non-current assets 53,757,938.07 42,380,243.97
Total non-current assets 2,077,727,087.80 1,963,306,760.64
Total assets 10,599,071,946.02 10,537,597,909.52
Current liabilities:
Short-term loan 1,940,281,056.93 1,530,311,475.46
Financial liabilities held for trading 0.00 0.00
Derivative financial liabilities 0.00 0.00
Notes payable 2,310,892,647.60 3,173,804,324.86
Accounts payable 992,983,195.05 621,509,251.91
Advance receipts 0.00 0.00
Contract liability 11,159,157.91 8,721,263.54
Payroll payable 90,268,262.53 144,232,179.83
Taxes payable 8,246,618.13 3,769,917.28
Other payables 405,189,765.63 180,960,439.96
Including: Interests payable 0.00 0.00
Dividends payable 0.00 0.00
Liabilities held for sale 0.00 0.00
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Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Non-current liabilities due within one
4,560,445.18 8,261,043.80
year
Other current liabilities 1,247,007.73 9,385,795.08
Total current liabilities 5,764,828,156.69 5,680,955,691.72
Non-current liabilities:
Long-term loan 150,000,000.00 0.00
Bonds payable 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liability 4,871,430.46 4,862,142.34
Long-term payables 0.00 0.00
Long-term payroll payable 0.00 0.00
Accrued liabilities 0.00 0.00
Deferred income 1,272,004.54 1,474,705.66
Deferred income tax liabilities 43,494,641.66 43,494,641.66
Other non-current liabilities 0.00 0.00
Total non-current liabilities 199,638,076.66 49,831,489.66
Total liabilities 5,964,466,233.35 5,730,787,181.38
Owner’s equity:
Share capital 278,662,094.00 278,662,094.00
Other equity instruments 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Capital reserve 2,400,240,106.19 2,389,729,206.17
Less: Treasury stock 0.00 0.00
Other comprehensive income 0.00 0.00
Special reserve 15,078,524.36 13,004,013.98
Surplus reserve 158,674,657.07 158,674,657.07
Undistributed profit 1,781,950,331.05 1,966,740,756.92
Total owner’s equity 4,634,605,712.67 4,806,810,728.14
Total liabilities and owners’ equity 10,599,071,946.02 10,537,597,909.52
3. Consolidated income statement
Unit: RMB
Item First half year of 2024 First half year of 2023
I. Gross Operating Income 5,681,756,659.38 5,043,502,704.02
Including: Operating income 5,681,756,659.38 5,043,502,704.02
Interest income
Premium earned
Handling charges and commissions
income
II. Total Operating Costs 5,422,424,326.73 4,366,319,713.41
Including: Costs of business 4,532,572,886.98 3,994,055,439.67
Interest expenses
Handling charges and commission
21
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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 26,914,381.04 12,172,999.44
Sales expenses 267,719,127.15 150,264,768.24
Management expenses 212,412,218.74 228,737,334.76
R&D expenditures 71,842,120.14 126,654,808.20
Financial expenses 310,963,592.68 -145,565,636.90
Including: Interest expenses 58,196,033.29 18,521,750.06
Interest income 22,157,882.37 25,979,037.84
Add: Other incomes 3,850,926.70 5,541,198.21
Income from investment ("-" for loss) 26,115,170.54 -138,011,157.94
Including: Income from investment in
associated enterprises and joint -220,781.51 -224,332.54
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 ("-"
19,010,682.28 -29,696,287.71
for loss)
Credit impairment losses ("-" for loss) -22,343,322.79 7,648,337.17
Asset impairment losses ("-" for loss) -739,835.93 -3,911,947.90
Gains from asset disposal ("-" for loss) 224,678.18 -442,817.59
III. Operating profit ("-" for loss) 285,450,631.63 518,310,314.85
Add: Non-operating income 8,474,865.96 6,288,109.44
Less: Non-operating expenses 6,538,305.03 6,560,502.52
IV. Total profit ("-" for total loss) 287,387,192.56 518,037,921.77
Less: Income tax expenses 70,960,584.49 66,302,826.32
V. Net profit ("-" for net loss) 216,426,608.07 451,735,095.45
(I) Classification by business continuity
1. Net profit from continuing operations
216,426,608.07 451,735,095.45
("-" for net loss)
2. Net profit from discontinued
operations ("-" for net loss)
(II) Classification by ownership
1. Net profit attributable to shareholders
181,794,252.02 424,390,802.78
of the parent company ("-" for net loss)
2. Profit and loss of minority
34,632,356.05 27,344,292.67
shareholders ("-" for net loss)
VI. Net amount after tax of other -22,878,925.34 15,286,792.86
22
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
comprehensive income
Net amount of other comprehensive
income after tax attributed to the -22,878,925.34 6,814,695.35
owners 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
-22,878,925.34 6,814,695.35
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
-22,878,925.34 6,814,695.35
financial statement translation
7. Other
Net amount of other comprehensive
income after tax attributed to minority 0.00 8,472,097.51
shareholders
VII. Total comprehensive income 193,547,682.73 467,021,888.31
Total comprehensive income attributed
158,915,326.68 431,205,498.13
to parent company owners
Total comprehensive income attributed
34,632,356.05 35,816,390.18
to minority shareholders
VIII. Earnings per Share:
(i) Basic earnings per share 0.65 1.53
(ii) Diluted earnings per share 0.65 1.52
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: Chief Accountant in Charge: Chief of Accounting Institution:
Wicky Wang Xing Bingpeng Zhang Baolin
23
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
4. Income statement of the parent company
Unit: RMB
Item First half year of 2024 First half year of 2023
I. Operating income 3,776,707,791.28 3,752,460,171.54
Less: operating cost 3,507,244,191.11 3,176,969,600.08
Taxes and surcharges 6,281,374.35 4,240,898.12
Sales expenses 67,879,398.57 73,912,445.93
Management expenses 67,066,449.58 101,070,285.87
R&D expenditures 63,929,706.30 106,993,024.19
Financial expenses -33,901,338.44 -76,293,760.31
Including: Interest expenses 29,851,977.51 5,146,390.60
Interest income 13,531,089.54 19,349,574.45
Add: Other incomes 2,356,305.96 1,683,129.45
Income from investment ("-" for loss) 18,562,000.78 -130,089,232.64
Including: Income from investment in
associated enterprises and joint -220,781.51 -224,332.54
ventures
Income recognized at termination of
financial assets measured at amortized
cost
Net exposure hedging income ("-" for
loss)
Income from changes in fair value ("-"
2,721,440.50
for loss)
Credit impairment losses ("-" for loss) -8,432,236.26 -1,199,960.04
Asset impairment losses ("-" for loss) 93,739.98 721,452.06
Gains from asset disposal ("-" for loss) 5,559.91
II. Operating profit ("-" for loss) 110,793,380.18 239,404,506.99
Add: Non-operating income 2,412,960.61 2,352,570.26
Less: Non-operating expenses 3,563,425.21 3,167,383.13
III. Total profit ("-" for total loss) 109,642,915.58 238,589,694.12
Less: Income tax expenses 15,771,247.48 27,555,811.19
IV. Net profit ("-" for net loss) 93,871,668.10 211,033,882.93
(I) Net profit from continuing operations
93,871,668.10 211,033,882.93
("-" for net loss)
(II) Net profit from discontinued
operations ("-" for net loss)
V. Other comprehensive income, net of
taxes
(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
24
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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
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
financial statement translation
7. Other
VI. Total comprehensive income 93,871,668.10 211,033,882.93
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated cash flow statement
Unit: RMB
Item First half year of 2024 First half year of 2023
I. Cash Flows Generated from Operating
Activities:
Cash received from sales of goods and
6,098,881,356.71 5,209,507,192.15
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
25
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
trading brokerage
Cash receipts from tax refunds 390,028,063.11 366,285,872.74
Cash received relating to other
115,824,970.74 37,137,117.11
operating activities
Subtotal of cash inflow in business
6,604,734,390.56 5,612,930,182.00
activities
Cash payments for goods acquired and
5,799,850,517.80 5,149,241,199.50
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
policyholder dividends
Cash payments to employees and on
474,840,586.27 355,664,363.13
behalf of employees
Cash payments for taxes 153,815,653.42 153,361,010.96
Other cash payments relating to
314,978,847.85 365,000,290.62
operating activities
Subtotal of cash outflow in business
6,743,485,605.34 6,023,266,864.21
activities
Net cash flow from operating activities -138,751,214.78 -410,336,682.21
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- 25,129,385.57 1,512,492.93
term assets
Net cash receipts from disposal of
subsidiary or any other business unit
Other cash receipts relating to investing
28,976,011.37
activities
Subtotal of cash inflow in investment
54,105,396.94 1,512,492.93
activities
Cash payments to acquire or construct
fixed assets, intangible assets and other 408,845,111.14 292,265,778.15
long-term assets
Cash payments for investment
Net increase in pledged loans
Net cash payments to acquire subsidiary
and other business units
Other cash payments relating to
134,596,269.02
investment activities
Subtotal of cash outflow in investment
408,845,111.14 426,862,047.17
activities
26
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
Net cash flow in investment activities -354,739,714.20 -425,349,554.24
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from
investment of minority shareholder from
subsidiary
Cash receipts from borrowings 2,818,924,833.84 643,103,333.82
Other cash receipts relating to financing
367,622,937.23
activities
Subtotal of cash inflow in financing
2,818,924,833.84 1,010,726,271.05
activities
Cash repayments of borrowings 1,766,456,617.44 155,414,609.48
Cash payments for distribution of
dividends, profits, or cash payments for 336,858,127.29 432,063,416.99
interest expenses
Including: Dividends and profits paid to
minority shareholders by subsidiaries
Other cash paid related to financing
activities
Subtotal of cash outflow in financing
2,103,314,744.73 587,478,026.47
activities
Net cash flow from financing activities 715,610,089.11 423,248,244.58
IV. Effect of Exchange Rate Changes on
108,204,723.35 -3,282,371.18
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
330,323,883.48 -415,720,363.05
Equivalents
Add: Beginning balance of cash and cash
1,185,554,395.09 2,076,062,785.79
equivalents
VI. Closing Balance of Cash and Cash
1,515,878,278.57 1,660,342,422.74
Equivalents
6. Cash flow statement of the parent company
Unit: RMB
Item First half year of 2024 First half year of 2023
I. Cash Flows Generated from Operating
Activities:
Cash received from sales of goods and
3,017,021,578.12 3,764,322,572.59
services
Cash receipts from tax refunds 315,650,646.17 282,124,895.16
Cash received relating to other
386,675,610.32 57,423,972.12
operating activities
Subtotal of cash inflow in business
3,719,347,834.61 4,103,871,439.87
activities
Cash payments for goods acquired and
2,657,901,466.52 3,769,545,098.51
services received
Cash payments to employees and on
201,124,025.91 228,681,544.43
behalf of employees
Cash payments for taxes 46,568,226.23 53,248,479.32
Other cash payments relating to
994,641,806.92 468,420,296.63
operating activities
Subtotal of cash outflow in business
3,900,235,525.58 4,519,895,418.89
activities
Net cash flow from operating activities -180,887,690.97 -416,023,979.02
27
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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- 308,286.60 2,468,815.63
term assets
Net cash receipts from disposal of
subsidiary or any other business unit
Other cash receipts relating to investing
18,603,136.95
activities
Subtotal of cash inflow in investment
18,911,423.55 2,468,815.63
activities
Cash payments to acquire or construct
fixed assets, intangible assets and other 146,426,522.21 211,451,033.47
long-term assets
Cash payments for investment
Net cash payments to acquire subsidiary
and other business units
Other cash payments relating to
512,833.96 129,864,900.10
investment activities
Subtotal of cash outflow in investment
146,939,356.17 341,315,933.57
activities
Net cash flow in investment activities -128,027,932.62 -338,847,117.94
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Cash receipts from borrowings 2,023,710,035.75 461,930,020.30
Other cash receipts relating to financing
1,202,628.69 353,486,465.55
activities
Subtotal of cash inflow in financing
2,024,912,664.44 815,416,485.85
activities
Cash repayments of borrowings 1,468,138,593.88 155,066,307.66
Cash payments for distribution of
dividends, profits, or cash payments for 307,654,408.71 424,716,774.32
interest expenses
Other cash paid related to financing
activities
Subtotal of cash outflow in financing
1,775,793,002.59 579,783,081.98
activities
Net cash flow from financing activities 249,119,661.85 235,633,403.87
IV. Effect of Exchange Rate Changes on
39,648,688.36 13,876,340.98
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
-20,147,273.38 -505,361,352.11
Equivalents
Add: Beginning balance of cash and cash
472,609,515.86 1,201,820,433.48
equivalents
VI. Closing Balance of Cash and Cash
452,462,242.48 696,459,081.37
Equivalents
28
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
7. Consolidated statement of changes in owners' equity
Amount in the current period
Unit: RMB
First half year of 2024
Equity attributed to owners of the parent company
Minority
Item Other equity instruments Total owner’s
Less: Other General
Capital Special Surplus Undistributed shareholder’s
Share capital Treasury comprehensive risk Other Subtotal equity
Preferred Perpetual interest
Other reserve reserve reserve profit
shares bonds stock income reserve
I. Balance at 2,382,9
38,596, 158,674,6 3,741,086,35 6,546,153,85 293,538,110.4 6,839,691,961.7
the end of the 278,662,094.00 32,252. -53,797,771.67
260.53 57.07 9.04 1.24 8 2
previous year: 27
Add: Changes
in accounting
policies
Correction of
errors from
previous
period
Other
II. Opening 2,382,9
38,596, 158,674,6 3,741,086,35 6,546,153,85 293,538,110.4 6,839,691,961.7
balance of the 278,662,094.00 32,252. -53,797,771.67
260.53 57.07 9.04 1.24 8 2
current year 27
III. Changes in
- -
Current 10,510, 7,816,9
-22,878,925.34 96,867,841.9 101,418,911. 34,632,356.05 -66,786,555.42
Period (“-” for 900.02 55.83
8 47
decrease)
(I) Total
181,794,252. 158,915,326.
comprehensiv -22,878,925.34 34,632,356.05 193,547,682.73
02 68
e income
(II) Capital
contribution 10,510, 10,510,900.0
10,510,900.02
and reduction 900.02 2
by owners
1. Ordinary
shares
0.00
invested by
owners
2. Capital
contributed
from other
0.00
equity
instrument
holders
3. Amounts of
share-based
10,510, 10,510,900.0
payments 10,510,900.02
900.02 2
recognized in
owners'
29
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
equity
4. Other 0.00
- -
(III) Profit
278,662,094. 278,662,094. -278,662,094.00
distribution
00 00
1.
Appropriation
0.00
of surplus
reserve
2.
Appropriation
0.00
of general risk
reserve
3. Distribution - -
to owners (or 278,662,094. 278,662,094. -278,662,094.00
shareholders) 00 00
4. Other
(IV) Internal
carry-over of
0.00
owners'
equity
1. Capital
reserve
converted
0.00
into capital
(or share
capital)
2. Surplus
reserve
converted
0.00
into capital
(or share
capital)
3. Recovery of
losses by
0.00
surplus
reserves
4. Carry-over
retained
earnings from
0.00
defined
benefit plan
changes
5. Carry-over
retained
earnings from
0.00
other
comprehensiv
e income
6. Other 0.00
(V) Special 7,816,9
7,816,955.83 7,816,955.83
reserves 55.83
30
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
1. Withdrawal
20,775, 20,775,360.0
in the current 20,775,360.08
360.08 8
period
2. Use in the - -
current 12,958, 12,958,404.2 -12,958,404.25
period 404.25 5
(VI) Other
IV. Balance at
2,393,4
the end of the 46,413, 158,674,6 3,644,218,51 6,444,734,93 328,170,466.5 6,772,905,406.3
278,662,094.00 43,152. -76,676,697.01
current 216.36 57.07 7.06 9.77 3 0
29
period
Amount of previous year
Unit: RMB
First half year of 2023
Equity attributed to owners of the parent company
Minority
Item Other equity instruments Total owner’s
Less: Other General
Capital Special Surplus Undistributed shareholder’s
Share capital Treasury comprehensive risk Other Subtotal equity
Preferred Perpetual interest
Other reserve reserve reserve profit
shares bonds stock income reserve
I. Balance at 2,301,2
19,551, 158,674,6 3,421,808,37 6,184,265,16 202,957,841.2 6,387,223,007.8
the end of the 277,115,744.00 93,600. 5,821,782.13
007.62 57.07 4.82 6.56 5 1
previous year: 92
Add: Changes
in accounting
policies
Correction of
errors from
previous
period
Other
II. Opening 2,301,2
19,551, 158,674,6 3,421,808,37 6,184,265,16 202,957,841.2 6,387,223,007.8
balance of the 277,115,744.00 93,600. 5,821,782.13
007.62 57.07 4.82 6.56 5 1
current year 92
III. Changes in
-
Current 23,877, 11,174, 14,558,622.5
6,814,695.35 27,307,859.9 32,604,742.14 47,163,364.72
Period (“-” for 383.06 404.11 8
4
decrease)
(I) Total
424,390,802. 431,205,498.
comprehensiv 6,814,695.35 35,816,390.18 467,021,888.31
78 13
e income
(II) Capital
contribution 23,877, 23,877,383.0
23,877,383.06
and reduction 383.06 6
by owners
1. Ordinary
shares
invested by
owners
2. Capital
contributed
31
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
from other
equity
instrument
holders
3. Amounts of
share-based
payments 23,877, 23,877,383.0
23,877,383.06
recognized in 383.06 6
owners'
equity
4. Other
- -
(III) Profit
451,698,662. 451,698,662. -3,211,648.04 -454,910,310.76
distribution
72 72
1.
Appropriation
of surplus
reserve
2.
Appropriation
of general risk
reserve
3. Distribution - -
to owners (or 451,698,662. 451,698,662. -3,211,648.04 -454,910,310.76
shareholders) 72 72
4. Other
(IV) Internal
carry-over of
owners'
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
reserve
converted
into capital
(or share
capital)
3. Recovery of
losses by
surplus
reserves
4. Carry-over
retained
earnings from
defined
benefit plan
changes
32
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
5. Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(V) Special 11,174, 11,174,404.1
11,174,404.11
reserves 404.11 1
1. Withdrawal
20,466, 20,466,859.2
in the current 177,574.85 20,644,434.09
859.24 4
period
2. Use in the -
-
current 9,292,4 -177,574.85 -9,470,029.98
9,292,455.13
period 55.13
(VI) Other
IV. Balance at
2,325,1
the end of the 30,725, 158,674,6 3,394,500,51 6,198,823,78 235,562,583.3 6,434,386,372.5
277,115,744.00 70,983. 12,636,477.48
current 411.73 57.07 4.88 9.14 9 3
98
period
8. Statement of changes in owner's equity of the parent company
Amount in the current period
Unit: RMB
First half year of 2024
Other equity instruments Less: Other Total
Item Share Capital Special Surplus Undistributed
Preferred Perpetual Treasury comprehensive Other owner’s
capital Other reserve reserve reserve profit
shares bonds stock income equity
I. Balance at
the end of 278,662,0 2,389,729 13,004,0 158,674,657. 1,966,740,756. 4,806,810,72
the previous 94.00 ,206.17 13.98 07 92 8.14
year:
Add:
Changes in
accounting
policies
Correction of
errors from
previous
period
Other
II. Opening
balance of 278,662,0 2,389,729 13,004,0 158,674,657. 1,966,740,756. 4,806,810,72
the current 94.00 ,206.17 13.98 07 92 8.14
year
III. Changes - -
10,510,90 2,074,51
in Current 184,790,425.8 172,205,015.
0.02 0.38
Period (“-” 7 47
33
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
for decrease)
(I) Total
93,871,668.1
comprehensi 93,871,668.13
3
ve income
(II) Capital
contribution
10,510,90 10,510,900.0
and
0.02 2
reduction by
owners
1. Ordinary
shares
invested by
owners
2. Capital
contributed
from other
equity
instrument
holders
3. Amounts
of share-
based
10,510,90 10,510,900.0
payments
0.02 2
recognized in
owners'
equity
4. Other
- -
(III) Profit
278,662,094.0 278,662,094.
distribution
0 00
1.
Appropriatio
n of surplus
reserve
2.
Distribution
- -
to owners
278,662,094.0 278,662,094.
(or
0 00
shareholders
)
3. Other
(IV) Internal
carry-over of
owners'
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
34
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
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
comprehensi
ve income
6. Other
(V) Special 2,074,51
2,074,510.38
reserves 0.38
1.
Withdrawal
10,963,7 10,963,770.1
in the
70.14 4
current
period
2. Use in the -
-
current 8,889,25
8,889,259.76
period 9.76
(VI) Other
IV. Balance
at the end of 278,662,0 2,400,240 15,078,5 158,674,657. 1,781,950,331. 4,634,605,71
the current 94.00 ,106.19 24.36 07 05 2.67
period
Amount in the previous period
Unit: RMB
First half year of 2023
Other equity instruments Less: Other Total
Item Share Capital Special Surplus Undistributed
Preferred Perpetual Treasury comprehensive Other owner’s
capital Other reserve reserve reserve profit
shares bonds stock income equity
I. Balance at
the end of 277,115,7 2,307,349, 158,674,657. 2,189,570,288. 4,932,710,64
the previous 44.00 954.34 07 45 3.86
year:
Add:
Changes in
accounting
35
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
policies
Correction of
errors from
previous
period
Other
II. Opening
balance of 277,115,7 2,307,349, 158,674,657. 2,189,570,288. 4,932,710,64
the current 44.00 954.34 07 45 3.86
year
III. Changes
- -
in Current 24,839,10 7,812,10
240,664,779.7 208,013,571.
Period (“-” 0.00 8.54
9 25
for decrease)
(I) Total
211,033,882.9 211,033,882.
comprehensi
3 93
ve income
(II) Capital
contribution
24,839,10 24,839,100.0
and
0.00 0
reduction by
owners
1. Ordinary
shares
invested by
owners
2. Capital
contributed
from other
equity
instrument
holders
3. Amounts
of share-
based
24,839,10 24,839,100.0
payments
0.00 0
recognized in
owners'
equity
4. Other
- -
(III) Profit
451,698,662.7 451,698,662.
distribution
2 72
1.
Appropriatio
n of surplus
reserve
2.
Distribution - -
to owners 451,698,662.7 451,698,662.
(or 2 72
shareholders
36
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
)
3. Other
(IV) Internal
carry-over of
owners'
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
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
comprehensi
ve income
6. Other
(V) Special 7,812,10
7,812,108.54
reserves 8.54
1.
Withdrawal
13,682,7 13,682,770.3
in the
70.35 5
current
period
2. Use in the -
-
current 5,870,66
5,870,661.81
period 1.81
(VI) Other
IV. Balance
at the end of 277,115,7 2,332,189, 7,812,10 158,674,657. 1,948,905,508. 4,724,697,07
the current 44.00 054.34 8.54 07 66 2.61
period
37
Rainbow Chemical's 2024 Semi-Annual Report To be a Global Leading Crop Protection Company
In case of any discrepancies between English and Chinese versions of the "2024 Semi-Annual Report," the
Chinese version shall prevail.
SHANDONG WEIFANG RAINBOW CHEMICAL CO.,LTD
Board of Directors
Sep. 10, 2024
38