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WANHUA CHEMICAL GROUP Co., Ltd. SEMI-ANNUAL REPORT 2018

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WANHUA CHEMICAL GROUP Co., Ltd. SEMI-ANNUAL REPORT 2018 WANHUA CHEMICAL GROUP Co., Ltd. SEMI-ANNUAL REPORT 2018 Company Code：600309 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. Important Note 1. Board of directors (the "Board"), board of supervisors, directors, supervisors and senior management of the Company certify that this report does not contain any false or misleading statements or material omissions and are jointly and severally liable for the authenticity, accuracy and integrity of the content. 2. All directors attended the board meeting. 3. The semi-annual report is not audited. 4. Liao Zengtai, head of the Company, Kou Guangwu, chief accountant, and Zhang Shoujun, person in charge of the accounting body (accountant leader), certify that the financial reporting of the semi-annual report is authentic, accurate and integrated. 5. Plan of profit distribution or capital reserve capitalization approved by the Board N/A 6. Risk statement of forward-looking description ✓ Applicable □ N/A The forward-looking description on future plan and development strategy in this report does not constitute substantive commitment to investors. Please note the investment risk. 7. Does the situation exist where the controlling shareholders and their related parties occupy the funds of the Company for non-operational use? No 8. Does the situation exist where the Company provides external guarantee which is not in compliance with the required decision-making procedures? No 9. Significant risk alert There are no significant risks which have adverse effects on the Company's future development strategy and operation objects during the reporting period. 10. Others □ Applicable ✓ N/A 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. Contents Section I Definitions .......................................................................................................................................................1 Section II General Information and Financial Indicators of the Company ....................................................................2 Section III The Company's Business Overview ..............................................................................................................5 Section IV Discussion and Analysis for Operation .........................................................................................................7 Section V Important Events ...........................................................................................................................................14 Section VI Changes in Ordinary Shares and Information of Shareholders ....................................................................27 Section VII Preferred Stock Information ........................................................................................................................31 Section VIII Directors, Supervisors and Senior Management .......................................................................................32 Section IX Corporate Bonds ...........................................................................................................................................33 Section X Financial Report .............................................................................................................................................34 Section XI List of Documents Available For Inspection ................................................................................................ 158 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. SECTION I DEFINITIONS In this report, unless the context otherwise requires, the following terms shall have the meanings set out below: Definition of f requently used words CSRC Refers to China Securities Regulatory Commission SSE Refers to Shanghai Stock Exchange Company, the Company, Wanhua Refers to Wanhua Chemical Group Co., Ltd. Chemical, Wanhua Wanhua Industry, former controlling Refers to Wanhua Industrial Group Co., Ltd, former controlling shareholder shareholder Yantai Wanhua, controlling share- Refers to "Yantai Wanhua Chemical Co., Ltd.", controlling shareholder holder The subsidiary controlled by the Company, Wanhua Chemical (Ning- Wanhua Ningbo Refers to bo) Co., Ltd. MDI Refers to Diphenyl-methane-diisocyanate TDI Refers to Toluene diisocynate SAP Refers to Super Absorbent Polymer TPU Refers to Thermoplastic Polyurethane PC Refers to Polycarbonate PMMA Refers to Polymethyl methacrylate ADI Refers to Aliphatic isocyanate (including H12MDI, HDI, HDI derivatives and IPDI) LPG Refers to Liquefied petroleum gas 1 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. SECTION II GENERAL INFORMATION AND FINANCIAL INDICATORS OF THE COMPANY I. Information of the Company Legal company name in Chinese 万华化学集团股份有限公司 Abbreviation of legal company name in Chinese 万华化学 Legal company name in English Wanhua Chemical Group Co., Ltd. Abbreviation of legal company name in English Wanhua Legal representative of the Company Liao Zengtai II. Contacts Secretary to the Board Securities affairs representative Name Kou Guangwu Xiao Minghua Address No.7 Xingfu South Road, Yantai City No.7 Xingfu South Road, Yantai City Telephone number 0535-6698537 0535-6698537 Facsimile number 0535-6837894 0535-6837894 E-mail [email protected] [email protected] III. Changes in basic information of the Company Registration address No.17, Tianshan Road, Economic Technology Development Zone, Yantai City Post code of registration address 264006 Office address No.7 Xingfu South Road, Yantai City Post code of office address 264013 Website www.whchem.com E-mail [email protected] IV. Changes in information disclosure and the locations "China Securities Journal", "Shanghai Securities News", Designated newspapers for information disclosure "Securities Times" and "Securities Daily" Website designated by CSRC for the publication of the http://www.sse.com.cn Company's semi-annual report The Company's semi-annual report is available at Office of the Board 2 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. V. Abbreviation of the Company's shares Class of shares Stock exchange Short name Stock code Former short name A shares Shanghai Stock Exchange Wanhua Chemical 600309 Yantai Wanhua VI. Other relevant information □ Applicable ✓ N/A VII. Major accounting data and financial indicators of the Company (I) Major accounting data Unit: RMB Major accounting data 30 June 2018 (January - June) 30 June 2017 Year on year (%) Operating income 30,054,174,638.75 24,430,086,476.77 23.02 Net profit attributable to shareholders 6,949,934,414.32 4,861,037,879.29 42.97 of the Company Net profit excluding non-recurring prof- it or loss attributable to shareholders of 6,479,882,747.21 4,792,592,513.48 35.21 the Company Net cash flow from operating activities 8,445,172,019.49 1,448,528,030.70 483.02 At the end of 30 June 2018 At the end of the prior year Year on year (%) Net assets attributable to shareholders 30,111,092,864.98 27,279,539,897.19 10.38 of the Company Total assets 68,092,765,754.54 65,827,732,248.24 3.44 (II) Major financial indicators Major financial indicators 30 June 2018 (January - June) 30 June 2017 Year on year (%) Basic earnings per share (RMB/Share) 2.54 1.79 41.90 Diluted earnings per share (RMB/Share) N/A N/A Basic earnings per share excluding 2.37 1.77 33.90 non-recurring profit or loss (RMB/Share) Weighted average return on net assets (%) 25.43 25.43 0 Weighted average return on net assets Decreased by 1.36 23.71 25.07 excluding non-recurring profit or loss (%) percentage points Explanations for accounting data and financial indicators of the Company □ Applicable ✓ N/A VIII. Differences between figures under foreign and domestic accounting principles □ Applicable ✓ N/A 3 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. IX. Item and amounts of non-recurring profit or loss ✓ Applicable □ N/A Unit: RMB Item and amounts of non-recurring profit or loss Amount Notes (if applicable) Profit or loss on disposal of non-current assets -12,720,853.21 Government grants recognized in profit or loss for the current year, except those closely related with normal business courses, and 844,422,936.84 given on quota basis continuously based on the state policy Other non-operating income and expenses other than the above 1,240,089.51 Amounts affected by minority interests -159,727,644.09 Income tax effects -203,162,861.94 Total 470,051,667.11 X. Others □ Applicable ✓ N/A 4 2018 Semi-Annual Report WANHUA CHEMICAL GROUP CO., LTD. SECTION III THE COMPANY'S BUSINESS OVERVIEW I. Primary business, business model and industry description of the Company during the reporting period (I) Primary business The Company is mainly engaged in the research and development, production and sale of petrochemical products such as polyurethane (MDI, TDI and polyhydric alcohol), propylene and its downstream product acrylic acid and propylene oxide, fine chemicals such as SAP, TPU, PC, PMMA, organic amine, ADI and waterborne coatings and new materials. Among them, MDI product is one of the most important ingredients for polyurethane which is endowed with merits of both rubber and plastics and widely applied to areas such as chemical industry, light industry, textile, architecture, home appliances, building materials, transportation and aerospace. The Company commits itself to becoming a most competitive supplier of polyurethane, petrochemicals, fine chemicals and new materials. (II) Business model Business model of the Company: Wanhua Chemical adheres to a path of professional development by focusing on the growth in the sector of chemical new materials.
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