The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Stock code: 301035 Stock abbreviation: Rainbow Agro Announcement No.: 2025-024
SHANDONG WEIFANG RAINBOW CHEMICAL CO. LTD
The Annual Financial Report of 2024
The Company and all members of the Board of Directors warrant that the information disclosed is true accurate and
complete without false records misleading statements or material omissions.
1. Consolidated balance sheet
Prepared by: Shandong Weifang Rainbow Chemical Co. Ltd
December 31 2024
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 3127278835.99 3271577916.51
Deposit reservation for balance
Lending to banks and other financial
institutions
Financial assets held for trading 6000000.00
Derivative financial assets 54510264.04
Notes receivable 1549052.97 55955879.66
Accounts receivable 5383557983.75 4707041417.82
Receivables financing 1781600.00 500000.00
Pre-payments 73111436.20 129020462.65
Premium receivable
Re-insurance accounts receivable
Reserves for re-insurance contract
receivable
Other receivables 44619050.70 44646181.87
Including.: interest receivable
Dividends receivable
Financial assets purchased under
resale agreement
Inventory 2417727613.29 3336332619.58
Including: Data resources
Contracted assets
- 1 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Assets held for sale
Non-current assets that mature
within one year
Other current assets 373525517.33 329901506.56
Total current assets 11477661354.27 11880975984.65
Non-current assets:
Disbursed loans and advances
Debt investments
Other debt investment
Long-term receivables
Long-term equity investment 1163628.51 1445021.57
Other equity instrument investment
Other non-current financial assets
Investment real estate 7888049.83 8512192.20
Fixed assets 2329749377.60 2008437417.28
Construction in progress 380857052.90 395645781.60
Productive biological assets
Oil and gas assets
Assets with rights of use 40483198.54 14463991.44
Intangible assets 289263633.21 214122877.97
Including: Data resources
Development expenditure 209479407.05 36791601.49
Including: Data resources
Goodwill 89560239.36 94866025.56
Long-term deferred expenses 30010596.27 34125613.10
Deferred income tax assets 351419889.32 117262810.63
Other non-current assets 88284699.67 91304780.64
Total non-current assets 3818159772.26 3016978113.48
Total assets 15295821126.53 14897954098.13
Current liabilities:
Short-term loan 2499413865.13 2261455023.95
Borrowings from the central bank
Borrowing from banks and financial
institutions
Financial liabilities held for trading
Derivative financial liabilities 8956113.54 4141579.45
Notes payable 3498164564.46 4057148069.12
Accounts payable 1054785779.66 1096628295.09
Advance receipts 222816.73 232358.87
Contract liability 105244393.90 29592998.73
Financial assets sold for repurchase
Deposits and interbank deposits
received
- 2 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Amount received from agency trading
of securities
Amount received from agency
underwriting of securities
Payroll payable 254619742.83 218457162.23
Taxes payable 133155202.22 77730510.55
Other payables 145690804.57 81107290.26
Including: Interests payable
Dividends payable 4531016.11
Charges and commissions payable
Re-insurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
63599585.209623075.76
year
Other current liabilities 5682444.72 57442707.33
Total current liabilities 7769535312.96 7893559071.34
Non-current liabilities:
Provision for insurance contracts
Long-term loan 345772094.74 77624331.91
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liability 31665904.44 8219602.23
Long-term payables
Long-term payroll payable
Accrued liabilities
Deferred income 13105155.44 11713887.21
Deferred income tax liabilities 86672265.19 67145243.72
Other non-current liabilities
Total non-current liabilities 477215419.81 164703065.07
Total liabilities 8246750732.77 8058262136.41
Owner’s equity:
Share capital 280770974.00 278662094.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 2442307122.42 2382932252.27
Less: Treasury stock 124837079.67
Other comprehensive income -5194711.56 -53797771.67
Special reserve 46616455.84 38596260.53
Surplus reserve 158674657.07 158674657.07
General risk reserve
Undistributed profit 3862347597.59 3741086359.04
Total owners' equity attributed to
6660685015.696546153851.24
parent company
Minority shareholder's interest 388385378.07 293538110.48
Total owner's equity 7049070393.76 6839691961.72
- 3 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Total liabilities and owners equity 15295821126.53 14897954098.13
Legal Representative: Chief Accountant in Charge: Chief of Accounting Institution:
Wicky Wang Xing Bingpeng Zhang Baolin
2. Consolidated income statement
Unit: RMB
Item Amount incurred in 2024 Amount incurred in 2023
I. Gross Operating Income 13296203422.72 11484792643.38
Including: Operating income 13296203422.72 11484792643.38
Interest income
Premium earned
Handling charges and
commissions income
II. Total Operating Costs 12777719393.05 10290668713.77
Including: Costs of business 10665116425.37 9051614099.72
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 64344015.90 29385057.18
Sales expenses 654095305.31 432967568.95
Management expenses 547396454.50 515227243.83
R&D expenditures 169415449.97 298481326.30
Financial expenses 677351742.00 -37006582.21
Including: interest expenses 131098994.10 64196305.12
Interest income 48047294.66 44863783.93
Add: Other incomes 7691827.35 7417858.89
Income from investment ("-" for
60450063.81-293585468.43
loss)
Including: income from
investment in associated enterprises -281393.06 -224364.55
and joint ventures
Income recognized
at termination of financial assets
measured at amortized cost
Foreign exchange gain ("-" for
loss)
- 4 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Net exposure hedging income ("-
" for loss)
Income from changes in fair
51677845.80118175428.04
value ("-" for loss)
Credit impairment losses ("-" for
-161827618.37-68872941.51
loss)
Asset impairment losses ("." for
-41645775.59-11664630.86
loss)
Gains from asset disposal ("." for
303741.74-149423.81
loss)
III. Operating Profit ("." for loss) 435134114.41 945444751.93
Add: Non-operating income 7751093.33 12413819.18
Less: Non-operating expenses 29926589.64 17481532.95
IV. Total Profit Before Tax ("-" for total
412958618.10940377038.16
losses)
Less: Income tax expenses -115427907.77 90267060.96
V. Net Profit ("-" for net loss) 528386525.87 850109977.20
(l) Classification by business
continuity
1.Net profit from continuing
528386525.87850109977.20operations (“-" for net loss)
2. Net profit from discontinuedoperations (“-" for net loss)(ll) Classification by ownership
1.Net profit attributable to
450082509.47771120761.85
shareholders of the parent company
2. Profit and loss of minority
78304016.4078989215.35
shareholders
Vl. Net Amount after Tax of Other
80086964.19-42731664.90
Comprehensive income
Net amount of other comprehensive
income after tax attributed to the owners 48603060.11 -59619553.80
of parent company
(l) 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 will be reclassified into profit and 48603060.11 -59619553.80
loss
1.Other comprehensive income
that can be converted to profit or loss
- 5 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
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
48603060.11-59619553.80
financial statement translation
7. Other
Net amount of other comprehensive
income after tax attributed to minority 31483904.08 16887888.90
shareholders
Vll. Total Comprehensive Income 608473490.06 807378312.30
(i) Total comprehensive income
498685569.58711501208.05
attributed to parent company owners
(ii) Total comprehensive income
109787920.4895877104.25
attributed to minority shareholders
Vlll. Earnings per Share:
(i) Basic earnings per share 1.61 2.78
(ii) Diluted earnings per share 1.61 2.77
Legal Representative: Chief Accountant in Charge: Chief of Accounting Institution:
Wicky Wang Xing Bingpeng Zhang Baolin
3. Consolidated cash flow statement
Unit: RMB
Item Amount incurred in 2024 Amount incurred in 2023
I. Cash Flows Generated from Operating
Activities:
Cash received from sales of goods and
12980321872.979629482775.97
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
- 6 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Net cash received from securities
trading brokerage
Cash receipts from tax refunds 730759051.64 900056609.14
Cash received relating to other
90242236.59110710124.45
operating activities
Subtotal of cash inflow in business
13801323161.2010640249509.56
activities
Cash payments for goods acquired
10912111939.2310052446201.34
and 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
Net increase in lending funds from
banks and other financial institutions
Cash payments for insurance
policyholder dividends
Cash payments to employees and on
968625859.05817790399.46
behalf of employees
Cash payments for taxes 452772496.27 440126045.60
Other cash payments relating to
716473878.28680262174.52
operating activities
Subtotal of cash outflow in business
13049984172.8311990624820.92
activities
Net cash flow from operating activities 751338988.37 -1350375311.36
II. Cash Flows from Investing Activities:
Cash receipts from investment
6000000.00
withdrawal
Cash receipts from return on
investments
Net cash receipts from disposals of
fixed assets intangible assets and other 36849278.03 36302257.22
long-term assets
Net cash receipts from disposal of
subsidiary or any other business unit
Other cash receipts relating to
62713572.7244640007.96
investing activities
Subtotal of cash inflow in investment
105562850.7580942265.18
activities
Cash payments to acquire or
construct fixed assets intangible assets 837026058.40 638317292.72
and other 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
335324939.76
investment activities
Subtotal of cash outflow in investment
837026058.40973642232.48
activities
- 7 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Net cash flow in investment activities -731463207.65 -892699967.30
III. Cash Flows from Financing Activities:
Cash received from capital
54230452.5639583744.23
contributions
Including: Cash received from
investment of minority shareholder from
subsidiary
Cash receipts from borrowings 4656446806.70 2953774894.89
Other cash receipts relating to
financing activities
Subtotal of cash inflow in financing
4710677259.262993358639.12
activities
Cash repayments of borrowings 4100559278.29 1056659534.33
Cash payments for distribution of
dividends profits or cash payments for 456503422.71 505728255.32
interest expenses
Including: Dividends and profits paid
to minority shareholders by subsidiaries
Other cash paid related to financing
144578289.4112252672.25
activities
Subtotal of cash outflow in financing
4701640990.411574640461.90
activities
Net cash flow from financing activities 9036268.85 1418718177.22
IV. Effect of Exchange Rate Changes on
74169690.76-66151289.26
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
103081740.33-890508390.70
Equivalents
Add: Beginning balance of cash and
1185554395.092076062785.79
cash equivalents
VI. Closing Balance of Cash and Cash
1288636135.421185554395.09
Equivalents
4. Consolidated Statement of Changes in Equity
Amount for the current period
Unit: RMB
Amount incurred in 2024
Owners' equity attributed to parent company
Mino
Other equity Other rity Total
instruments Gene
Item Capit Less: comp Speci Surpl Undis share owne
Share ral
Prefe Perpe al Treas rehe al us tribut
Other Subto holde r's
capit Risk
rred tual Other reser ury nsive reser reser ed tal
r's equit
al Reser inter y
share bond ve stock inco ve ve profit ve est
s s me
I. Prior -
278238385158374654293683
Year 537
662293962674108615538969
End 977
094.22560.5657.635385110.196
Balanc 71.6
002.273079.041.24481.72
e 7
A
dd:
Chang
- 8 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
es in
Accou
nting
Policie
s前
Correc
tion of
Prior
Period
Errors
Other
II.Begin
ning -
278238385158374654293683
Balanc 537
662293962674108615538969
e of 977
094.22560.5657.635385110.196
the 71.6
002.273079.041.24481.72
Curre 7
nt
Year
III.Chang
es in
Amou
nt for
the
Curre
593124486121114948209
nt 210 802
748837030261531472378
Period 888 019
70.1079.60.1238.164.67.5432.
(Decre 0.00 5.31
56715545904
ases
are
Indica
ted
with a
"?"
Sign)
(1) Tot
al
486450498109608
Compr
030082685787473
ehensi
60.1509.569.920.490.
ve
147584806
Incom
e
(2)
Owner
s' - -
593124166
Contri 210 633 467
748837362
bution 888 533 170
70.1079.67.8
s and 0.00 29.5 61.6
5673
Reduc 2 9
tions
in
- 9 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Capita
l
1.
Ordin
ary - -
124166
Shares 210 122 106
837362
Contri 888 728 091
079.67.8
buted 0.00 199. 931.
673
by 67 84
Owner
s
2.
Capita
l
Contri
bution
s by
Holder
s of
Other
Equity
Instru
ments
3.
Amou
nts
Recog
nized 593 593 593
in 748 748 748
Equity 70.1 70.1 70.1
for 5 5 5
Share-
based
Payme
nts
4.
Other
s
----
(3)Pro
328328315360
fit
821821769398
Distrib
270.270.20.7191.
ution
9292264
1.
Appro
priatio
n to
Surplu
s
Reserv
e
2.
Appro
priatio
n to
- 10 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
Gener
al Risk
Reserv
e
3.
Distrib
ution - - - -
to 328 328 315 360
Owner 821 821 769 398
s (or 270. 270. 20.7 191.Share 92 92 2 64
holder
s)
4.
Other
s
(4)
Transf
ers
Within
Equity
1.
Transf
er
from
Capita
l
Reserv
e to
Capita
l (or
Share
Capita
l)
2.
Transf
er
from
Surplu
s
Reserv
e to
Capita
l (or
Share
Capita
l)
3. Use
of
Surplu
s
Reserv
e to
Cover
Losses
- 11 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
4.
Transf
er of
Chang
es in
Define
d
Benefi
t Plans
to
Retain
ed
Earnin
gs
5.
Transf
er of
Other
Compr
ehensi
ve
Incom
e to
Retain
ed
Earnin
gs
6.
Other
s
(5) Sp
802802802
ecial
019019019
Reserv
5.315.315.31
e
1．A
mount
Extrac 466 466 477
101
ted in 911 911 061
494
the 97.2 97.2 40.4
3.29
Curre 0 0 9
nt
Period
2.
Amou
nt 386 386 396
101
Used 710 710 859
494
in the 01.8 01.8 45.1
3.29
Curre 9 9 8
nt
Period
(6)
Other
s
IV. 280 244 124 - 466 158 386 666 388 704
Endin 770 230 837 519 164 674 234 068 385 907
- 12 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
g 974. 712 079. 471 55.8 657. 759 501 378. 039
Balanc 00 2.42 67 1.56 4 07 7.59 5.69 07 3.76
e of
the
Curre
nt
Period
Amount for the Prior Period
Unit: RMB
Amount incurred in 2023
Owners' equity attributed to parent company
Mino
Other equity Other rity Total
instruments Gene
Item Capit Less: comp Speci Surpl Undis share owne
Share ral
al Treas rehe al us tribut Other Subto holde r's
capit Prefe Perpe Risk
Other reser ury nsive reser reser ed tal r's equit
al rred tual Reser inter y
share bond ve stock inco ve ve profit ve
s s me est
I. Prior
277230195158342618202638
Year 582
115129510674180426957722
End 178
744.36007.6657.837516841.300
Balanc 2.13
000.922074.826.56257.81
e
A
dd:
Chang - - -
es in 144 144 144
Accou 114. 114. 114.nting 91 91 91
Policie
s前
Correc
tion of
Prior
Period
Errors
Other
II.Begin
ning
277230195158342618202638
Balanc 582
115129510674166412957707
e of 178
744.36007.6657.425105841.889
the 2.13
000.922079.911.65252.90
Curre
nt
Year
III. -
816190319362905452
Chang 154 596
386452422032802613
es in 635 195
51.352.9099.799.69.2068.
Amou 0.00 53.8
511359382
nt for 0
- 13 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
the
Curre
nt
Period
(Decre
ases
are
Indica
ted
with a
"?"
Sign)
(2) T
otal -
771711958807
Compr 596
120501771378
ehensi 195
761.208.04.2312.
ve 53.8
8505530
Incom 0
e
(2)
Owner
s'
Contri
816831831
bution 154
386850850
s and 635
51.301.301.3
Reduc 0.00
555
tions
in
Capita
l
1.
Ordin
ary
393408408
Shares 154
149612612
Contri 635
06.756.756.7
buted 0.00
111
by
Owner
s
2.
Capita
l
Contri
bution
s by
Holder
s of
Other
Equity
Instru
ments
3.
423423423
Amou
237237237
nts
44.644.644.6
Recog
444
nized
- 14 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
in
Equity
for
Share-
based
Payme
nts
4.
Other
s
---
(3)Pro -
451451456
fit 529
698698995
Distrib 683
662.662.497.
ution 5.02
727274
1.
Appro
priatio
n to
Surplu
s
Reserv
e
2.
Appro
priatio
n to
Gener
al Risk
Reserv
e
3.
Distrib
ution - - -
-
to 451 451 456
529
Owner 698 698 995
683
s (or 662. 662. 497.
5.02
Share 72 72 74
holder
s)
4.
Other
s
(4)
Transf
ers
Within
Equity
1.
Transf
er
from
Capita
l
Reserv
- 15 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
e to
Capita
l (or
Share
Capita
l)
2.
Transf
er
from
Surplu
s
Reserv
e to
Capita
l (or
Share
Capita
l)
3. Use
of
Surplu
s
Reserv
e to
Cover
Losses
4.
Transf
er of
Chang
es in
Define
d
Benefi
t Plans
to
Retain
ed
Earnin
gs
5.
Transf
er of
Other
Compr
ehensi
ve
Incom
e to
Retain
ed
Earnin
gs
6.
Other
- 16 -The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company
s
(6) S 190 190 190
pecial 452 452 452
Reserv 52.9 52.9 52.9
e 1 1 1
1．A
mount
Extrac 450 450 456
641
ted in 161 161 575
362.
the 72.4 72.4 34.7
38
Curre 1 1 9
nt
Period
2.
Amou
nt 259 259 266
641
Used 709 709 122
362.
in the 19.5 19.5 81.8
38
Curre 0 0 8
nt
Period
(6)
Other
s
IV.Endin
g -
278238385158374654293683
Balanc 537
662293962674108615538969
e of 977
094.22560.5657.635385110.196
the 71.6
002.273079.041.24481.72
Curre 7
nt
Period
Should there be any difference in the interpretation of the contents the Chinese version of the 2024 Annual Report shall prevail.SHANDONG WEIFANG RAINBOW CHEMICAL CO. LTD
Board of Directors
May 08 2025
沪公网安备31011802005267号
