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上海氯碱化工股份有限公司2013年年度报告(英文版) 下载公告
公告日期:2014-04-02
上海氯碱化工股份有限公司  2013年年度报告 
1 
Shanghai Chlor-Alkali Chemical Co., Ltd. 
600618 
2013 Annual Report 
March 21, 2O14 
上海氯碱化工股份有限公司  2013年年度报告 
2 
Important Notice 
1.  The  Board  of  Directors,  the  Supervisory  Committee,  Directors,  Supervisors  and  senior 
executives  of  the  Company  ensure  the  content  of  this Annual  Report  is  true,  accurate  and 
integrative, not having any false statement, misleading representation or significant omission, 
and will take joint and several legal responsibilities for the Report. 
2. All the Directors of the Company attended the Board meeting. 
3.  Shanghai  Shu  Lun  Pan  CPA  Ltd.  (special  general  partnership)  issued  an  auditor's  report  with 
standard and unqualified opinion for the Company. 
4.  Mr.  Li  Jun,  principal  of  the  Company,  Mr.  He  Gang,  principal  in  charge  of  accounting  of  the 
Company  (accounting  officer),  and Mr.  Lai  Yonghua,  head of  accounting  department  declare 
to guarantee the truth, accuracy and integrity of the financial report in this Annual Report. 
5.  The  proposal  on  profit  distribution  or  the  proposal  on  transferring of  the  public  reserves  into 
share  capital  for  the  report  period  examined  by  the  Board  of  Directors:  According  to  the 
financial  audit  report  for  2013  issued  by  Shanghai  Shu  Lun  Pan  CPA  Ltd.  (special  general 
partnership),  in  2013  the  net  profit  of  the  parent  company  was  RMB  9,450,214.72,  and  the 
undistributed  profit  of  the  parent  company  at  beginning  of  the  year  was  RMB  3,126,574.04 
70,479,373.59.  After  appropriating  the  statutory  surplus  reserves  of  RMB  945,021.47,  the 
distributable profit at end of the year should be RMB 11,631,767.29, i.e., RMB 0.01 per share. 
The Company's proposal for distributing cash dividend in 2013 is as follows: 
Based  on  the  Company's  total  capital  of  1,156,399,976  shares  on  December  31,  2013,  the 
Company shall distribute cash dividend of RMB 0.05 (tax included) for every 10 shares held, 
totally  distributing  dividend  of  RMB  5,781,999.88.  The  undistributed  profit  shall  be  carried 
forward  to  the  next  year.  The  cash  dividend  to  the  holders  of  B  share  shall  be  paid  in  US 
dollars. 
6. The declaration on the risk for forward looking statement 
The future plan or other forward looking statement included in this Report shall not constitute 
the  Company's  substantial  commitment  to  the  investors,  and  we  remind  the  investors  to  pay 
attention to the investment risks. 
7.  Is  there  any  non-operational  fund  occupation  by  the  controlling  shareholder  or  by  the  related 
parties? 
No 
8.  Is  there  any  guarantee  for  outside  entities  in  violation  of  the  stipulated  decision-making 
process? 
No 
上海氯碱化工股份有限公司  2013年年度报告 
3 
Contents 
1. Paraphrase and Important Risk Prompt ......................................................................................... 4 
2. Company Profile ........................................................................................................................... 5 
3. Financial Highlights ...................................................................................................................... 7 
4. Report of the Board of Directors ................................................................................................. 10 
5. Major Events ............................................................................................................................... 28 
6. Changes in shareholding and Particulars of Shareholders .......................................................... 34 
7. Particulars of the Directors, Supervisors, Senior Executives and Employees ............................ 38 
8. Company Governance ................................................................................................................. 45 
9. Internal Control ........................................................................................................................... 47 
10. Financial Accounting Report .................................................................................................... 49 
11. Documents for Reference .......................................................................................................... 63 
上海氯碱化工股份有限公司  2013年年度报告 
4 
1. Paraphrase and Important Risk Prompt 
1. Paraphrase 
In  this  Report,  except  otherwise  indicated,  these  words  and  expressions  should  have  the 
meanings as follows: 
Paraphrase for generally-used expressions 
CSRC  means  China Securities Regulatory Committee 
SSRB  means 
Shanghai  Regulatory  Bureau  of  China  Securities  Regulatory 
Commission 
Huayi Group  means  Shanghai Huayi (Group) Company 
The  Company,  Company, 
or Chlor-Alkali Chemical 
means  Shanghai Chlor-Alkali Chemical Co., Ltd. 
Sodium hydroxide  means 
Molecular  formula:  NaOH;  a  soluble  strong  alkali.  Sodium 
hydroxide  is  easy  to  be  solved  into  water,  has  strong 
alkalinity,  and  can  supply  Na+  ion.  These  properties  make  it 
used  widely  in  the  industries  such  as  soap-making,  textile 
industry,  printing  and  dyeing,  blanching,  papermaking, 
petroleum refining, metallurgy and other chemical industries. 
Chlorine gas  means 
Molecular  formula:  Cl2.  As  an  important  chemical  raw 
material, chlorine gas is widely used in the industries such as 
papermaking,  printing  and  dyeing,  pigment,  bleaching 
powder,  textile  industry,  chemical  fiber,  greasem  petroleum, 
rubber,  plastic,  pharmacy,  disinfection,  agricultural  pesticide, 
metallurgy and electronic industry. 
Paste resin  means 
The Company's production for paste resin mainly adopts two 
processes, mixing method and seed emulsion polymerization, 
and the paste resin is mainly used in the products such as the 
artificial leather, floor leather, wall paper, toy and bottle cap. 
Special resin  means 
The  special  resin  produced  by  the  Company  is  mainly  the 
customer specially-used material, the medical resin with high 
polymeric level such as plasma bag, infusion tube and the seal 
with  high  elasticity  and  the  resin  specially  used  for  primary 
coating in automobiles. 
CPVC  means 
Chlorinated  polyvinyl  chloride,  mainly  used  in  various  pipes 
with  different  caliber  and  the  related  fittings  such  as  elbow 
and T-joint, the valve body and the wig. 
2. Important prompt for risk: 
The  Company  has  described  in  details  the  risk  factors  existing  in  the  Company  in  the  Report.  Please 
consult  the  content  about  the  risk  factors  possibly  faced  in  the  outlook  for  future  development  and  the 
countermeasures made by the Board of Directors. 
上海氯碱化工股份有限公司  2013年年度报告 
5 
2. Company Profile 
1. Company information 
Chinese name of the Company  Shanghai Chlor-Alkali Chemical Co., Ltd. 
Short form  Chlor-Alkali Chemical 
English name of the Company  SHANGHAI CHLOR-ALKALI CHEMICAL CO.,LTD. 
Abbreviation  SCAC 
Legal representative of the Company  Mr. Li Jun 
2. Contact information 
Secretary of the Board of 
Directors 
Securities representative 
Name  Xu Peiwen  Shen Qinyi 
Contact address  4747 Longwu Rd., Shanghai  4747 Longwu Rd., Shanghai 
Tel.   021-64340601  021-64342640 
Fax  021-64341341  021-64341438 
E-mail  shxpw@126.com  shqy_0227@126.com 
3. Basic information 
Registered address of the Company  4747, 4800 Longwu Rd., Shanghai 
Zip code of registered address  200241 
Business address of the Company  4747 Longwu Rd., Shanghai 
Zip code of business address  200241 
Website  www.scacc.com 
E-mail  dshmss@scacc.com 
4. Information disclosure and filing site 
Newspapers  for  information  disclosure 
selected by the Company 
China  Securities  News,  Shanghai  Securities  News, 
Securities Post and Hong Kong Commercial Daily 
Website  appointed  by  China  Securities 
Regulatory  Commission  for  carrying  annual 
report 
www.sse.com.cn 
Site for filing annual report  4747 Longwu Rd., Shanghai 
5. The Company's share 
The Company's share 
Type of share 
Stock exchange for 
listing of share 
Share name  Share code 
A share 
Shanghai  Stock 
Exchange 
Chlor-Alkali Chemical  600618 
B share 
Shanghai  Stock 
Exchange 
Chlor-Alkali B Share  900908 
6. Change of registration during the report period 
1) Basic information 
During the report period the Company did not have any change in its registration. 
2) Consulting of the Company's first registration 
For the Company's first registration, please see Brief Introduction to the Company in 2011 Annual 
上海氯碱化工股份有限公司  2013年年度报告 
6 
Report. 
3) Changes in the Company's main business since its listing in the stock market 
The Company has not got any change in its main business since its listing in the stock market. 
4) Changes in the Company's controlling shareholder since its listing in the stock market 
The  Company  has  not  got  any  change  in  its  controlling  shareholder  since  its  listing  in  the  stock 
market. 
7. Other relevant information 
Name  of  the  public  accounting 
firm engaged (domestic) 
Name 
Shanghai  Shu  Lun  Pan  CPA  Ltd.  (special 
general partnership) 
Business 
address 
4th Floor, New Huangpu Financial Plaza, No. 
61, East Nanjing Rd., Shanghai, China 
Name of the 
accountant for 
signing 
China certified accountant: Sang Qimin 
China certified accountant: Ling Min 
上海氯碱化工股份有限公司  2013年年度报告 
7 
3. Financial Highlights 
1. Main accounting data and financial indexes of previous 3 years before end of the report period 
1) Main accounting data 
Unit: RMB 
Main accounting data  2013  2012 
Increase or 
decrease than 
same period of 
last year (%) 
2011 
Operating income  6,974,211,654.53  6,340,883,649.76  9.99  5,762,526,037.15 
Net profit attributable to 
shareholders of the listed 
Company 
16,623,782.76  102,542,136.82  -83.79  229,773,339.37 
Net profit attributable to 
shareholders of the Company, 
after non-recurring profit and 
loss 
-139,868,977.14  65,211,838.90  -314.48  189,253,732.10 
Net cash flow from operating 
activities 
580,026,390.02  644,308,830.14  -9.98  710,046,662.19 
  End of 2013  End of 2012 
Increase or 
decrease (%) 
End of 2011 
Net assets attributable to 
shareholders of the Company 
2,848,201,003.60  2,828,464,570.60  0.70  2,726,202,649.91 
Total assets  5,992,581,029.65  6,340,132,786.82  -5.48  6,007,929,351.75 
2) Main financial data 
Main financial indexes  2013  2012 
Increase or 
decrease than same 
period of last year 
(%) 
2011 
Basic earnings per share (RMB/share)  0.0144  0.0887  -83.77  0.1987 
Diluted earnings per share (RMB/share)  0.0144  0.0887  -83.77  0.1987 
Basic  earnings  per  share  after  non-recurring 
profit and loss (RMB/share) 
-0.121  0.0564  -314.54  0.1637 
Return on net assets, weighted average (%)  0.5857  3.6921  Decrease by 3.11%  8.78 
Return  on  net  assets  after  non-recurring  profit 
and loss, weighted average (%) 
-4.9279  2.3480 
Decrease by 7.28 
percentage points 
7.24 
2. Items of non-recurring profit and loss 
Unit: RMB 
Items of non-recurring 
profit and loss 
Amount in 
2013 
Note (if apply) 
Amount in 
2012 
Amount in 2011 
Profit and loss from 
disposal of 
non-current assets 
71,743,954.84 
Mainly the income from 
selling its equity interest in 
the subsidiaries Shanghai 
Tianyuan (Group) High 
Molecular Material Co., Ltd. 
and Shanghai Chlor-alkali 
Construction Antisepsis 
12,512,201.40  26,696,105.82 
上海氯碱化工股份有限公司  2013年年度报告 
8 
Installation Engineering Co., 
Ltd. 
Tax return and 
exemption approved by 
the authority beyond its 
right, or without official 
approval file or 
occasionally happened 
1,120,000.00 
Received  fund  for  support 
to the enterprise 
3,754,074.00  1,972,983.85 
Government  subsidy 
attributable  to  profit 
and  loss  of  current 
period,  except  such 
government  subsidy 
closely  related  to  the 
Company's  normal 
business  operation, 
meeting  the  regulation 
of  national  policy  and 
enjoyed  constantly  in 
certain  quota  or 
quantity according to a 
certain standard 
111,427,687.60 
Mainly the received project 
subsidy for adjustment of 
industrial structure 
7,605,127.69  34,105,987.51 
The income generated 
when the cost for the 
Company acquiring the 
investment in the 
subsidiaries, affiliated 
enterprises and the joint 
ventures is less than the 
fair value of the 
recognized net assets of 
the invested units 
enjoyed while acquiring 
the investment 
    7,427,541.47 
The  profit  and  loss 
from  change  of  fair 
value  due  to  holding 
of  tradable  financial 
assets  and  tradable 
financial liabilities and 
the  income  acquired 
from  disposal  of 
tradable  financial 
assets,  tradable 
financial liabilities and 
salable  financial 
assets,  except  that 
from  the  effective 
hedge  business  related 
to  the  Company's 
normal  operating 
business 
    136,030.13  125,484.00 
上海氯碱化工股份有限公司  2013年年度报告 
9 
Return of provision for 
depreciation of 
receivables with 
depreciation tested 
individually 
      7,405,732.81 
Other  non-operating 
revenue  and 
expenditure  other  than 
above items 
7,086,532.41 
Mainly the fund non-payable 
due to long account age in 
disposal 
2,528,619.33  81,716,513.82 
Other  profit  and  loss 
items  meeting  the 
definition  of 
non-recurring  profit 
and loss 
-35,532,990.89 
The  unemployment 
compensation  to  the 
employees  due  to  production 
halt  of  the  Company's 
important  production  unit  F2 
caused  by  the  need  for  the 
adjustment  of  industrial 
structure  and  the 
energy-saving  and  emission 
reduction 
4,311,535.50  -115,863,185.50 
Impact  of  minority 
interests 
-32,543.41    -876,846.11  4,554,376.69 
Impact of income tax  680,119.35    -67,985.49  -194,391.73 
Total  156,492,759.90    37,330,297.92  40,519,607.27 
3. Items measured with fair value 
Unit: RMB 
Item 
Beginning 
balance 
Closing balance 
Change in 
current period 
Impact on profit 
of current period 
Salable financial assets  9,905,288.69  10,926,604.39  1,021,315.70  0.00 
Total  9,905,288.69  10,926,604.39  1,021,315.70  0.00 
上海氯碱化工股份有限公司  2013年年度报告 
10 
4. Report of the Board of Directors 
1. Discussion and analysis of the Board of Directors on the operation status during the report period 
The  year  of  2013  is  still  a  hard  year  for  Chinese  chlor-alkali  industry. Under  the  background  that  the 
world  economy  is  increasing  slightly  in  uncertain  status  and  the  domestic  economy  is  still  facing  the 
downward  pressure,  the  chlor-alkali  industry,  as  a  basic  chemical  industry,  is  running  with  severe 
difficulties. In the whole year, this industry got three changes. First, the increasing speed of production 
capacity  was  slowed  down  remarkably.  According  to  the  statistics  of  China  Chlor-Alkali  Industry 
Association,  as  off  the  end  of  2013,  in  China  the  production  capacity  of  sodium  hydroxide  was 
38,500,000  tons,  an  increase  of  3.05%  than  previous  year,  and  the  production  capacity  of  PVC  was 
24,760,000,  an  increase  of  5.77%  than  previous  year. Among  them,  the  newly-increased  production 
capacities  for  sodium  hydroxide  and  PVC  are  respectively  3,610,000  tons  and  2,860,000  tons,  and  the 
reduced production  capacities  for  sodium  hydroxide  and  PVC  are  respectively  2,470,000  tons  and 
1,510,000  tons.  This  means  the  production  capacity  of  the  chlor-alkali  industry  is  under  adjustment. 
Secondly,  the  profitability  space  was  narrowed  further. The  price  of  upstream  resource  was  rising 
slightly,  but  in  the  whole  year  the  price of  the  end  product,  sodium  hydroxide,  was  dropping by  about 
15%, and the price of PVC was also very low. So it is impossible to make up the loss of chlorine with 
the profit of alkali. More than of the enterprises in the chlor-alkali industry have got loss. Especially all 
the  PVC  products  have  got  loss.  Thirdly,  the  competition  structure  has  been  changed.  The  enterprises 
lacking  resources  and  industrial  chain  have  gradually  disappeared,  while  the  enterprises  possessing 
resources  and  market  demand  are  developing  based  on  industrial  park  mode  and  recycling  economy 
mode and are striving to make reorganization. 
The  Company  analyzed  the  situation  and  overcame  the  difficulties  actively,  promoted  the  strategy  of 
"transformation through innovation and upgrading" steadily, strived to win profit and liquidize the stock 
asset actively and stably.  Due to  the joint  efforts of  all the  employees  and the  strong  support of Huayi 
Group,  the  Company  has  finally  realized  the  profit  target  drawn  at  beginning  of  the  year. In  2013,  the 
Company  realized  gross  operating  income  of  RMB  6,974,000,000,  increasing  by  9.99%  than  previous 
year, gross profit of RMB 31,310,000, increasing by 72.76% than previous year, net profit attributable to 
shareholders  of  the  Company  of  RMB  16,620,000,  decreasing  by  83.79%  than  previous  year,  and 
investment income of RMB 144,130,000, increasing by 33% than previous year. 
1) Analysis on main business 
(1) Analysis on changes in relevant items in the income statement and cash flow statement 
Unit: RMB 
Item  Current period 
Same period of 
last year 
Change ratio 
(%) 
Operating income  6,974,211,654.53    6,340,883,649.76   9.99 
Operating cost  6,344,195,298.75    5,700,714,055.07   11.29 
Selling cost  193,012,461.43    151,977,833.76   27.00 
Management cost  416,638,560.56    334,096,291.86   24.71 
Financial expenses  111,801,208.77    120,850,845.04   -7.49 
Net cash flow from operating activities  580,026,390.02    644,308,830.14   -9.98 
Net cash flow from investment activities  -247,218,330.78    -332,740,540.86   26.33 
Net cash flow from financing activities  -327,297,981.40    -251,796,453.62   -29.99 
Expenditure on R&D  42,071,822.11    47,492,856.85   -11.41 
(2) Income 
A) Analysis on the factors influencing the Company's products income mainly from sales of goods 
Unit: '0000 tons 
上海氯碱化工股份有限公司  2013年年度报告 
11 
Product category  Item  2013  2012 
Increase or 
decrease (%) 
Polyvinyl  chloride 
resin 
Sales volume  15.47  21.16  -26.89 
Output  16.76  21.68  -22.69 
Inventory  0.31  0.25  24.00 
Sodium hydroxide 
Sales volume  74.80  71.67  4.37 
Output  73.19  72.69  0.69 
Inventory  0.01  1.68  -99.40 
Factor analysis: 
The output and sales volume of polyvinyl chloride resin decreased than same period of last year, and this 
is  mainly  because  the  rise  of  the  price  of  ethylene  and  big  loss  of  gross  profit  made  the  Company  to 
reduce production volume of this year to reduce the loss. 
B) Main customers 
Unit: RMB 
Total of sales amount to top 5 
customers 
2,366,618,471.01 
Ratio in total sales 
amount 
33.93% 
Information of top 5 customers 
No. 
Name of customer  Sales amount 
Ratio in annual sales 
amount (%) 
1 
Shanghai Longhuixing Chemical 
Import & Export Co., Ltd. 
675,534,859.88  9.69 
2 
Bayer Material Technology (China) 
Co., Ltd. 
549,693,381.59  7.88 
3 
Shanghai Lianheng Isocyanic Ester 
Co., Ltd. 
503,532,580.53  7.22 

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