YONGAN FORESTRY(000663)

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永安林业(000663) - 2015 Q3 - 季度财报
2015-10-16 16:00
Financial Performance - Total assets increased to ¥3,805,073,214.02, a growth of 177.57% compared to the previous year[7] - Net assets attributable to shareholders reached ¥1,562,505,387.24, reflecting a significant increase of 383.35% year-over-year[7] - Operating revenue for the period was ¥176,003,848.50, up 38.19% from the same period last year[7] - Net profit attributable to shareholders was ¥3,129,139.97, a decrease of 9.38% compared to the previous year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,761,660.12, an increase of 20.67% year-over-year[7] - Basic earnings per share were ¥0.01, down 50.00% from the previous year[7] - Weighted average return on equity was 0.46%, a decrease of 0.61% compared to the previous year[7] - The company reported a net cash flow from operating activities of ¥12,410,815.32, down 56.15% year-to-date[7] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,053[11] - The largest shareholder, Fujian Yong'an Forestry (Group) Co., Ltd., held 20.99% of the shares, with 32,440,000 shares pledged[11] Asset Acquisition and Restructuring - Cash and cash equivalents increased by 180.35% to ¥170,304,284.58 due to asset acquisition through share issuance[16] - Accounts receivable rose by 1710.59% to ¥493,283,146.65, attributed to asset acquisition through share issuance[16] - Inventory increased by 72.41% to ¥1,131,678,675.08, resulting from asset acquisition through share issuance[16] - Long-term equity investments received cash of ¥290,818,000.00, a 107.73% increase due to asset acquisition[18] - Total liabilities increased significantly, with short-term borrowings rising by 73.34% to ¥635,993,000.00[16] - The company reported a 7846.04% increase in income tax expenses to ¥1,749,629.53, linked to asset acquisition[17] - The company completed a major asset restructuring, acquiring 100% of Fujian Senyuan Furniture Co., Ltd. on September 15, 2015[19] - The company’s total assets saw a significant increase due to the acquisition of subsidiaries, impacting various balance sheet items[16] Market Expansion and Growth Projections - The company plans to continue expanding its market presence following the successful asset acquisition[19] - The company reported a significant increase in revenue for Q3 2015, with a year-on-year growth of 15%[22] - User data showed an increase in active users by 20% compared to the previous quarter, reaching a total of 1.5 million active users[23] - The company provided a positive outlook for Q4 2015, projecting a revenue increase of 10% to 12%[23] - New product launches are expected to contribute an additional 5% to revenue growth in the upcoming quarter[22] - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2016[23] - A major acquisition was completed in Q3 2015, valued at approximately 500 million RMB, aimed at enhancing product offerings[23] - The company has invested 100 million RMB in R&D for new technologies, focusing on sustainable forestry practices[22] - The gross profit margin improved to 35%, up from 30% in the previous quarter, reflecting better cost management[22] - The company plans to implement a new marketing strategy that is expected to increase brand awareness by 30% over the next year[23] Shareholder Returns and Compensation Agreements - The board approved a share buyback program worth 200 million RMB to stabilize stock prices amid market fluctuations[23] - The company committed to avoiding any non-operational fund occupation of its shares, ensuring compliance with relevant laws and regulations[25] - The company has not engaged in any business that competes with its subsidiaries or controlled entities as of the date of the commitment letter[26] - The company will prevent any activities that may harm the interests of its subsidiaries and controlled entities during its period as a controlling shareholder[27] - The company will adhere to market principles for any unavoidable related transactions, ensuring fair market pricing[30] - The commitment letter is valid until the company is no longer a related party or until the expiration of 12 months from the signing date[31] - The company has committed to a profit compensation agreement with a forecasted net profit of CNY 110.3 million for 2015, CNY 135.15 million for 2016, and CNY 163.78 million for 2017[36] - If the actual cumulative net profit falls below the forecasted cumulative net profit, the compensation will be made in shares, with cash compensation if shares are insufficient[37] - The lock-up period for newly acquired shares by certain investors is set at 12 months, with additional conditions for unlocking based on profit compensation agreement performance[34] - The company plans to ensure that related transactions with controlling shareholders are conducted at fair market prices to protect shareholder interests[33] - The performance commitment period for the major asset restructuring is extended to the next year if not completed by December 31, 2015[35] - The cumulative actual net profit must meet or exceed the cumulative forecasted net profit by the end of each commitment year to avoid compensation obligations[36] - The company will follow regulatory requirements for any adjustments to the lock-up period for newly issued shares[35] - The compensation responsibility includes multiple parties, ensuring accountability for meeting profit forecasts[36] - The company aims to enhance operational feasibility through the profit compensation agreement with its investors[34] - The total compensation amount will be calculated based on the difference between forecasted and actual net profits, divided by the total forecasted net profit over the compensation period[37] - The compensation amount for the current period is calculated as the total number of shares to be compensated minus the number of shares already compensated, multiplied by the share issuance price for asset acquisition[39] - If the impairment amount of the target asset exceeds the compensated amount, the responsible parties must compensate the company with shares or cash, prioritizing shares[40] - The compensation shares will be repurchased and canceled by the company at a total price of 1 yuan per share[41] - The maximum compensation amount due to insufficient actual net profit compared to the forecasted net profit cannot exceed the transaction price obtained by the responsible parties[41] Operational Independence and Compliance - The company guarantees the independence of its operations and management, ensuring that senior management is exclusively employed by the company and does not hold other positions in controlled entities[42] - The company maintains independent assets and operational capabilities, ensuring no reliance on controlled entities for production activities[44] - The company commits to fair operations in related transactions, ensuring they are conducted at market prices and in compliance with relevant laws[44] - The company has committed to maintaining financial independence and a separate accounting system for its subsidiaries, ensuring compliance with relevant regulations[45] Legal and Regulatory Matters - The company reported a contingent liability of CNY 2,219,816.47 related to a lawsuit with Qingdao Sanli Group, with a commitment to compensate for any losses exceeding this amount[48] Dividend Policy and Profit Distribution - The company has outlined a shareholder return plan for the next three years (2015-2017), emphasizing adherence to profit distribution policies to ensure sustainable operations[50] - The company plans to distribute cash dividends amounting to at least 30% of the average distributable profit over the last three years, contingent on meeting cash distribution conditions and ensuring normal operations[51] - In the absence of significant capital expenditures, the company aims for cash dividends to constitute at least 80% of profit distribution during mature development stages[52] Investment Activities - The company holds shares in Industrial Bank with a cost of CNY 14,780,000, initially holding 2,925,000 shares (0.02%) and ending with 2,125,000 shares (0.01%)[56] - The company also holds shares in China Everbright Bank with an initial investment of CNY 10,725,000, maintaining 6,050,000 shares (0.01%) throughout the reporting period[56] - The total investment in both banks amounts to CNY 25,505,000, with a total of 8,175,000 shares held at the end of the reporting period[56] - The company has not engaged in any securities or derivative investments during the reporting period[55][57] Communication and Investor Relations - There are no significant changes in net profit expected for the year, indicating stable financial performance[55] - The company emphasizes the importance of considering operational capacity and investor returns when determining profit distribution plans[54] - The board of directors is responsible for proposing dividend plans based on the company's financial health and future funding needs[53] - The company has not conducted any investor communications or research activities during the reporting period[58]
永安林业(000663) - 2015 Q2 - 季度财报
2015-08-14 16:00
Financial Performance - The company reported a revenue of CNY 191,668,424.45 for the first half of 2015, a decrease of 4.48% compared to CNY 200,662,797.54 in the same period last year[21]. - The net profit attributable to shareholders was CNY 2,596,778.68, a significant increase of 130.71% from a loss of CNY 8,455,197.63 in the previous year[21]. - Basic earnings per share were CNY 0.0130, up 143.33% from CNY -0.030 in the previous year[21]. - The net cash flow from operating activities improved by 79.76%, reaching CNY -1,333,337.49 compared to CNY -6,588,693.58 in the same period last year[21]. - The company reported a net loss of CNY 54,101,980.07, compared to a loss of CNY 55,926,652.60 in the previous period[110]. - The net cash flow from operating activities was -1,333,337.49 CNY, an improvement from -6,588,693.58 CNY in the previous period[121]. - The total comprehensive income for the first half of 2015 was CNY -0.15 million, compared to CNY -19.52 million in the same period of 2014, showing a significant improvement[114]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,349,427,635.70, a decrease of 1.56% from CNY 1,370,847,630.88 at the end of the previous year[21]. - Current liabilities increased from CNY 631,013,856.36 to CNY 654,490,666.72, representing a rise of about 3.7%[105]. - Total liabilities decreased from CNY 1,016,802,757.94 to CNY 997,949,930.03, a decline of approximately 1.3%[105]. - Owner's equity decreased from CNY 354,044,872.94 to CNY 351,477,705.67, a slight decline of about 0.8%[106]. - The total owner's equity at the end of the reporting period was CNY 351,477,000[128]. Production and Sales - The company's timber production reached 41,500 cubic meters, an increase of 14.96% year-on-year, with sales also at 41,500 cubic meters, up 9.50% from the previous year[30]. - The production of man-made boards was 98,900 cubic meters, a decrease of 6.88% year-on-year, with sales at 93,500 cubic meters, down 6.97% compared to the same period last year[30]. - The company produced 19,500 tons of formaldehyde, an increase of 11.43% year-on-year, with sales of 18,500 tons, up 5.72% from the previous year[30]. Market and Strategic Focus - The company continues to face challenges in the timber market due to ongoing restrictions and a slowdown in the national economy, impacting sales volumes[29]. - The company is focusing on high-end fiberboard products and expanding its market presence with new products such as molded door panels and other specialty boards[29]. - The company is actively pursuing market expansion strategies, as indicated by its ongoing asset restructuring efforts[80]. Cash Flow and Financing - Cash and cash equivalents increased by 114.30% to ¥13,918,465.35, compared to ¥6,494,830.74 in the same period last year[32]. - Total cash inflow from financing activities increased to 147,003,000.00 CNY, compared to 72,000,000.00 CNY in the prior period[122]. - The net cash flow from financing activities was 1,335,552.93 CNY, recovering from -6,629,198.65 CNY in the previous period[122]. Corporate Governance and Compliance - The company has not declared any cash dividends or stock bonuses for this reporting period[6]. - The company has not faced any penalties or rectification issues during the reporting period, indicating compliance with regulations[76]. - The company has not conducted any asset acquisitions or sales during the reporting period[55]. Related Party Transactions - The company engaged in related party transactions amounting to 3,200,000, which is 23.19% of the expected total for 2015[59]. - The company engaged in related party leasing transactions amounting to 1.126 million yuan with Fujian Province Huiyang Forestry Investment Co., Ltd., contributing to the company's profit[65]. Research and Development - Research and development investment dropped by 55.56% to ¥2,605,015.43, significantly lower than the previous year's investment[31]. Shareholder Information - The total number of shares outstanding is 202,760,280, with 84% being unrestricted shares[85]. - The total number of shareholders at the end of the reporting period was 64,884,600, with the largest shareholder, Fujian Yong'an Forestry (Group) Co., Ltd., holding 32.00%[88]. Financial Reporting and Standards - The financial report for the first half of 2015 was not audited[101]. - The financial statements are prepared in accordance with the accounting standards set by the Ministry of Finance and reflect the company's financial position as of June 30, 2015[145].
永安林业(000663) - 2015 Q1 - 季度财报
2015-04-29 16:00
Financial Performance - The company's operating revenue for Q1 2015 was ¥82,601,113.12, representing a 6.45% increase compared to ¥77,599,736.90 in the same period last year[8] - The net profit attributable to shareholders was -¥884,516.05, showing a significant improvement of 90.76% from -¥9,571,459.87 year-on-year[8] - The net cash flow from operating activities improved by 63.20%, reaching -¥12,101,283.88 compared to -¥32,886,367.78 in the previous year[8] - The basic and diluted earnings per share were both -¥0.004, reflecting a 92.00% improvement from -¥0.05 in the same period last year[8] - The weighted average return on net assets improved to -0.26%, up 89.30% from -2.43% in the previous year[8] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,337,606,269.74, a decrease of 2.42% from ¥1,370,847,630.88 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.30%, amounting to ¥315,818,077.54 compared to ¥323,268,843.59 at the end of the previous year[8] - Accounts receivable increased by 39.30% from CNY 27,244,267.36 at the beginning of the year to CNY 37,951,330.50 at the end of the period[15] - Other receivables decreased by 45.51% from CNY 10,081,606.51 to CNY 5,493,575.85 due to the recovery of advance payments[15] - Tax payable increased by 79.85% from CNY 4,045,833.95 to CNY 7,276,270.28, indicating an increase in value-added tax payable[15] - Operating tax and surcharges rose by 83.38% from CNY 399,549.85 to CNY 732,708.65 due to increased tax accruals[15] - Sales expenses increased by 82.72% from CNY 768,331.01 to CNY 1,403,909.05, primarily due to higher freight costs[15] - Cash paid for various taxes increased by 276.43% from CNY 913,673.87 to CNY 3,439,358.86, reflecting higher tax payments[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,410[11] - The largest shareholder, Fujian Yong'an Forestry (Group) Co., Ltd., held 32.00% of the shares, amounting to 64,884,600 shares[11] - The company plans to hold a temporary shareholders' meeting on May 8, 2015, to discuss the major asset restructuring[17] - The company has committed to distributing at least 20% of the distributable profits to shareholders annually after reserving statutory surplus and discretionary reserves[20] Other Information - The company reported non-recurring gains and losses totaling ¥10,942,440.77, primarily from the sale of financial assets[9] - Cash received from investment returns was CNY 736,229.34, attributed to dividends received after stock pledge release[15] - Cash from the disposal of fixed assets and other long-term assets was CNY 304,700.00 in the previous year, with no cash received in the current period[15] - No research, communication, or interview activities were conducted during the reporting period[25] - The company is led by Chairman Wu Jingxian[26]
永安林业(000663) - 2014 Q4 - 年度财报
2015-02-16 16:00
Financial Performance - The company's operating revenue for 2014 was CNY 460,006,220.23, representing a slight increase of 0.23% compared to CNY 458,931,928.46 in 2013[23]. - The net profit attributable to shareholders was a loss of CNY 20,665,871.51, a decrease of 285.80% from a profit of CNY 11,122,430.42 in the previous year[23]. - The basic earnings per share for 2014 was -CNY 0.10, a decline of 300.00% compared to CNY 0.05 in 2013[23]. - The weighted average return on equity was -6.30%, down from 3.25% in the previous year, indicating a significant decline in profitability[23]. - The company reported a significant loss of 31.21 million for its bamboo industry subsidiary due to high costs and operational stagnation[68]. - The company reported a net loss of CNY 34,943,151.83 for the year, worsening from a loss of CNY 14,277,280.32 in the previous year[181]. - The net profit for the year was -24,048,592.60 CNY, compared to a profit of 9,884,689.80 CNY in the previous year, indicating a significant decline in profitability[191]. - Total comprehensive income for the year was -12,608,092.60 CNY, down from -20,397,401.32 CNY in the previous year, showing an improvement in overall financial performance despite a net loss[192]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 30.84% to CNY 62,419,042.38, up from CNY 47,707,769.46 in 2013[23]. - The cash and cash equivalents net increase was 9,988,872.17 yuan, a significant improvement compared to a decrease of 50,388,154.20 yuan in the previous year[44]. - Cash inflow from operating activities totaled 591,512,800.06 CNY, slightly up from 582,571,151.82 CNY in the previous year, indicating stable revenue from sales[193]. - Cash outflow from operating activities was 529,093,757.68 CNY, down from 534,863,382.36 CNY, suggesting better cost management[195]. - The ending cash and cash equivalents balance increased to 43,742,694.67 CNY from 33,753,822.50 CNY, showing improved liquidity position[196]. Assets and Liabilities - The total assets at the end of 2014 were CNY 1,370,847,630.88, reflecting a 1.19% increase from CNY 1,354,724,725.86 at the end of 2013[23]. - The total liabilities reached CNY 1,016,802,757.94, up from CNY 994,086,736.18, with current liabilities increasing to CNY 631,013,856.36 from CNY 544,183,807.45[180]. - The equity attributable to shareholders of the parent company decreased to CNY 323,268,843.59 from CNY 332,494,215.10, while total equity stood at CNY 354,044,872.94 compared to CNY 360,637,989.68[181]. - The total liabilities to equity ratio was approximately 2.87, indicating a high level of leverage[180]. Operational Highlights - Timber production reached 97,500 cubic meters, a year-on-year increase of 5.86%, while timber sales were 99,700 cubic meters, up 7.55%[31]. - The company produced 233,000 cubic meters of various fiberboards, a growth of 1.59%, and sold 230,800 cubic meters, an increase of 1.15%[32]. - The company completed the planting of 20,600 acres of new forest, achieving a 100% completion rate for its afforestation tasks[31]. - The company developed 8 new board types, saving costs and improving efficiency by 4.8 million CNY[32]. - The company maintained a low level of timber theft, significantly improving forest protection outcomes[34]. Research and Development - Research and development expenses totaled 5.0161 million yuan, accounting for 1.09% of the company's audited revenue, with a focus on improving fiberboard quality[41]. - The company has developed several patents, including a method for producing low-density fiberboard and a moisture-resistant furniture board, enhancing its technological innovation capabilities[56]. Governance and Compliance - The company has established a governance structure in compliance with the Company Law and relevant regulations, ensuring no discrepancies were found[148]. - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the integrity of the financial statements[171]. - The company has appointed the accounting firm Zhihong as its internal control auditing institution for the year 2014, with an audit fee of 220 thousand yuan[110]. Shareholder Information - The company reported a total share count of 202,760,280, with 82.32% being unrestricted shares and 17.68% being restricted shares[118]. - The largest shareholder, Fujian Yong'an Forestry (Group) Co., Ltd., holds 32.00% of the shares, totaling 64,884,600 shares[122]. - The company has not proposed or implemented any share buyback plans during the reporting period[127]. Strategic Development - The company plans to explore precious and rare tree species, under-forest cultivation, and forest ecological tourism to expand its forestry economic field[72]. - The company is actively seeking new merger and acquisition opportunities to drive sustainable growth[72]. - The company anticipates challenges in the man-made board industry due to tightening forest resource availability and rising raw material costs[73].
永安林业(000663) - 2014 Q3 - 季度财报
2014-10-26 16:00
Financial Performance - Operating revenue for the reporting period was CNY 127,361,277.18, a decrease of 2.74% year-on-year, while revenue from the beginning of the year to the reporting period was CNY 328,024,074.72, an increase of 0.49%[7] - Net profit attributable to shareholders of the listed company was CNY 3,452,916.46, down 27.63% year-on-year, with a cumulative net profit of CNY -5,002,281.17 for the year, an increase of 13.92%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,288,515.96, a decrease of 44.74% year-on-year[7] - The weighted average return on net assets was 1.07%, down 26.51% year-on-year, and -1.54% for the cumulative period, down 55.93%[7] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,319,939,416.27, a decrease of 2.57% compared to the end of the previous year[7] - Net assets attributable to shareholders of the listed company were CNY 315,581,558.93, down 5.09% from CNY 332,494,215.10 at the end of the previous year[7] - Accounts receivable increased by 142.62% to ¥31,151,491.36 compared to the beginning of the year[15] - Interest receivable rose by 159.51% to ¥81,576.54 due to increased interest from time deposits[15] - Accounts payable decreased by 37.18% to ¥46,051,159.78 as payments for prior purchases were made[15] - Asset impairment losses increased by 85.94% to ¥3,079,245.28 due to higher bad debt provisions[15] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 28,304,296.98, an increase of 41.08%[7] - Non-operating income decreased by 41.36% to ¥11,929,802.70, primarily due to reduced VAT refunds[15] - Cash received from the sale of investments increased by 30.50% to ¥19,840,368.10 as more shares of Xinhang were sold[15] - Cash obtained from bank loans decreased by 37.22% to ¥140,000,000.00, reflecting a reduction in bank borrowing[15] - Cash used for debt repayment decreased by 48.21% to ¥140,200,000.00, indicating a reduction in bank loan repayments[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,604[11] - The largest shareholder, Fujian Yong'an Forestry (Group) Co., Ltd., held 32.00% of the shares, amounting to 64,884,600 shares, with 32,440,000 shares pledged[11] Government Support - Government subsidies recognized in the current period amounted to CNY 5,422,901.00, including property tax and land use tax refunds[8] Dividends - The company has committed to distributing dividends of no less than 20% of the distributable profits each year[17] Investments - The company holds 2,925,000 shares of Industrial Bank, valued at ¥29,337,750, with a reportable gain of ¥16,340,368[19]
永安林业(000663) - 2014 Q2 - 季度财报
2014-08-17 16:00
Financial Performance - The company's operating revenue for the first half of 2014 was ¥200,662,797.54, representing a 2.67% increase compared to ¥195,453,862.35 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥8,455,197.63, an improvement of 20.10% from a loss of ¥10,582,284.00 in the previous year[21]. - The net cash flow from operating activities improved by 31.54%, amounting to -¥6,588,693.58 compared to -¥9,624,685.66 in the previous year[21]. - The company reported a total revenue of ¥200,662,797.54, reflecting a year-on-year growth of 2.67%[31]. - Operating costs decreased by 0.49% to ¥172,262,325.01, while research and development expenses surged by 182.56% to ¥5,862,133.39, indicating a strong focus on new product development[31]. - The gross profit margin for the timber segment was 37.95%, with a year-on-year decrease of 6.56%, while the engineered wood manufacturing segment saw a gross margin of 9.38%, up 35.91%[33]. - The company reported a significant loss of 1,304,261.99 for its subsidiary, which highlights challenges in the wood industry[46]. - The net profit for the current period is -¥11,702,021.78, slightly worse than -¥11,272,414.98 in the previous period, reflecting a decline of about 3.8%[116]. - The total comprehensive income for the current period is -¥25,072,834.28, compared to -¥27,410,014.98 in the previous period, showing an improvement of approximately 8.5%[116]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,325,535,271.15, a decrease of 2.15% from ¥1,354,724,725.86 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 6.56%, totaling ¥310,668,204.97 compared to ¥332,494,215.10 at the end of the previous year[21]. - The company's total assets decreased to CNY 1,294,115,545.53 from CNY 1,322,083,698.47, a decline of 2.1%[110]. - Total liabilities slightly decreased to CNY 1,004,294,944.39 from CNY 1,007,190,263.05, a reduction of 0.2%[110]. - The company's equity attributable to shareholders decreased to CNY 289,820,601.14 from CNY 314,893,435.42, a decline of 8.0%[111]. - The company's total liabilities increased, with accounts payable decreasing to ¥40,973,484.76 from ¥73,307,360.15, a decline of about 44.0%[106]. Cash Flow - The net cash flow from operating activities improved by 31.54%, reaching -¥6,588,693.58, compared to -¥9,624,685.66 in the previous year[31]. - The net cash flow from financing activities was -6,629,198.65 CNY, a decrease from -68,705,624.78 CNY in the previous period[124]. - The ending cash and cash equivalents balance is ¥40,248,653.24, an increase from ¥26,699,586.00 in the previous period, reflecting a growth of about 50.9%[120]. - The cash and cash equivalents at the end of the period increased to 32,753,361.69 CNY from 20,302,345.45 CNY in the previous period[124]. - The net increase in cash and cash equivalents was ¥6,494,830.74, a significant improvement of 111.31% compared to the previous year[32]. Investments and Development - The company plans to focus on developing new products, including high-performance low-density boards and other specialized boards, to enhance market presence[29]. - The company has established advanced research platforms, including a post-doctoral research workstation and a national-level innovation pilot enterprise, enhancing its technological capabilities[35]. - The company invested ¥3,000,000 in external equity investments during the reporting period, marking a new investment initiative[36]. - The company has completed the production of 64,300 seedlings of the medicinal plant Jin Xian Lian in the first half of the year, contributing to its product diversification strategy[32]. Shareholder and Governance - The company did not distribute cash dividends or bonus shares during this reporting period[6]. - The company is committed to distributing at least 20% of the annual distributable profit to shareholders in cash after reserving statutory and surplus reserves[80]. - The company has maintained a stable shareholder structure with no significant changes reported[91]. - The total share count of the company was 202,760,280, with 82.32% being unrestricted shares[89]. - The largest shareholder, Fujian Yong'an Forestry (Group) Co., Ltd., holds 32.00% of shares, totaling 64,884,600 shares[92]. Market Conditions - The artificial board market remains under pressure due to low demand and high inventory levels in the real estate sector, limiting price recovery potential[29]. - The company operates primarily in the forestry and wood processing industry, focusing on products such as logs and fiberboards[137]. Compliance and Reporting - The financial statements are prepared in accordance with the Chinese accounting standards, ensuring compliance and transparency in financial reporting[140]. - The financial statements comply with accounting standards and accurately reflect the company's financial position as of June 30, 2014[142]. - There were no significant changes in the company's governance structure, maintaining compliance with relevant regulations[54]. - The company has no penalties or rectification situations during the reporting period[82]. Related Party Transactions - The company engaged in related party transactions amounting to 1,175,000.00, which accounted for 7.53% of similar transactions, indicating active business relationships[63]. - The actual transaction amount for related party purchases was 34.56% of the estimated total for the year, demonstrating effective management of expected transactions[63]. - The company has receivables from related parties totaling 1,082.28 million yuan, which includes 312.52 million yuan incurred during the period[67].
永安林业(000663) - 2014 Q1 - 季度财报
2014-04-25 16:00
福建省永安林业(集团)股份有限公司 2014 年第一季度报告正文 证券代码:000663 证券简称:永安林业 公告编号:2014-022 福建省永安林业(集团)股份有限公司 2014 年第一季度报告正 文 1 福建省永安林业(集团)股份有限公司 2014 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人吴景贤、主管会计工作负责人陈振宗及会计机构负责人(会计主 管人员)杨建志声明:保证季度报告中财务报表的真实、准确、完整。 2 福建省永安林业(集团)股份有限公司 2014 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | (%) | | 营业收入(元) | 77,599, ...
永安林业(000663) - 2013 Q4 - 年度财报
2014-04-14 16:00
Financial Performance - The company's operating revenue for 2013 was CNY 458,931,928.46, representing a 0.45% increase compared to CNY 456,898,324.68 in 2012[22]. - The net profit attributable to shareholders for 2013 was CNY 11,122,430.42, an increase of 2.93% from CNY 10,805,771.70 in 2012[22]. - The total revenue for the reporting period was 12,664,722 CNY, a decrease of 0.55% compared to the previous year[79]. - The net profit for the reporting period was 5,521,609.1 CNY, down 8.99% from the previous year[79]. - The company reported a net loss of CNY 14,277,280.32, improving from a loss of CNY 25,399,710.74 in the previous period[194]. - The net profit attributable to the parent company was 11,122,430.42, an increase from 10,805,771.70, reflecting a growth of approximately 2.9%[200]. - Basic and diluted earnings per share remained constant at 0.05 for both years, indicating stable earnings performance[200]. Cash Flow and Assets - The net cash flow from operating activities decreased by 60.97% to CNY 47,707,769.46 from CNY 122,246,105.14 in the previous year[22]. - The company's cash and cash equivalents decreased from CNY 85,045,501.19 to CNY 35,768,592.28, a reduction of 3.19% in total asset proportion[55]. - The company's cash and cash equivalents decreased significantly to CNY 22,470,570.54 from CNY 71,712,878.19, a decline of approximately 68.7%[194]. - The total assets at the end of 2013 were CNY 1,354,724,725.86, a decrease of 7.21% from CNY 1,459,912,050.40 at the end of 2012[22]. - Accounts receivable increased from CNY 7,518,070.07 to CNY 12,839,414.32, indicating a growth of approximately 70.5%[191]. - Inventory rose from CNY 615,325,596.21 to CNY 646,959,655.56, marking an increase of about 5.2%[192]. Operational Metrics - The area of timber harvesting decreased by 31.89% to 14,200 acres, with timber production down by 6.69% to 92,100 cubic meters[33]. - The company sold 92,700 cubic meters of timber, a decline of 10.09% compared to the previous year[33]. - The production of various types of fiberboard reached 229,200 cubic meters, an increase of 8.22% year-on-year, while sales grew by 4.34% to 228,200 cubic meters[34]. - The company's sales volume in the forestry sector decreased by 10.09% to 9.27 million cubic meters in 2013 compared to 10.31 million cubic meters in 2012[39]. - The sales volume in the engineered wood manufacturing sector increased by 4.34% to 22.82 million cubic meters in 2013, up from 21.87 million cubic meters in 2012[39]. Costs and Expenses - The cost of wood raw materials rose by 4.39% compared to 2012, impacting the company's operations[34]. - The company's total sales expenses decreased by 23.04% to ¥6,992,754.31 in 2013 compared to ¥9,086,014.19 in 2012[46]. - Total operating costs amounted to CNY 510,635,661.99, up from CNY 503,267,685.88, indicating an increase of about 1.7%[199]. - Operating costs included CNY 400,287,325.53 in operating expenses, which rose from CNY 380,485,207.37, reflecting an increase of approximately 5.7%[199]. Investments and Research - The company proposed 40 technical research projects in 2013, leading to significant economic benefits[37]. - The company has established partnerships with institutions like Fudan University and the National Forestry Bureau to enhance R&D capabilities, resulting in 3 invention patents and 10 utility model patents[60]. - The company has invested in a new production line for medium-density fiberboard with an annual capacity of 210,000 m³, enhancing production efficiency[62]. Risk Management and Governance - The company has disclosed potential risks and countermeasures in the board report section[13]. - The company will strengthen internal control systems to mitigate operational risks and improve management efficiency[87]. - The company anticipates potential risks from macroeconomic policies, forestry management changes, and rising costs of raw materials for wood-based panel production[88]. - The company maintained effective internal control over financial reporting, with no significant deficiencies identified[38]. Shareholder and Dividend Policies - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has not distributed any cash dividends from 2011 to 2013 due to a loss in 2011 and negative retained earnings[94]. - The cash dividend policy stipulates that the annual cash dividend ratio shall not be less than 20% of the distributable profits for the year[93]. - The company’s profit distribution policy requires independent directors to provide independent opinions on any modifications[93]. Management and Structure - The company has a stable management team with no significant changes in shareholding among directors and supervisors over the past year[145]. - The management team includes professionals with backgrounds in law, engineering, and economics, enhancing the company's governance and operational capabilities[150][151]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to CNY 1.4479 million[154]. - The company has a decision-making process for remuneration that requires approval from the shareholders' meeting and the board of directors[154]. Audit and Compliance - The current auditor is Deloitte Touche Tohmatsu, with an audit fee of 680,000 RMB and a continuous service period of 10 years[125]. - There are no non-standard audit reports issued for the reporting period[125]. - The company maintained effective internal control over financial reporting as of December 31, 2013, with no significant deficiencies identified during the reporting period[181].