Zhejiang Zhongcheng(002522)

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浙江众成(002522) - 2019 Q1 - 季度财报
2019-04-29 16:00
Financial Performance - The company's operating revenue for Q1 2019 was ¥279,595,352.07, representing a 23.79% increase compared to ¥225,854,665.25 in the same period last year[8] - The net profit attributable to shareholders was ¥11,801,449.98, a 2.77% increase from ¥11,482,911.01 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,478,262.45, up 27.23% from ¥5,877,782.60 in the previous year[8] - The company's operating revenue increased by 23.79% compared to the same period last year, while operating costs rose by 22.35%, primarily due to increased marketing efforts for POF heat shrink film products[19] - Operating profit and net profit decreased by 75.94% and 123.42% year-on-year, respectively, while minority shareholder profit increased by 258.22%[20] - Net profit for Q1 2019 was CNY -1,800,001.54, a decrease from CNY 7,685,998.30 in Q1 2018[54] - The company reported a basic earnings per share of CNY 0.01, unchanged from the previous year[55] - The company reported a basic and diluted earnings per share of ¥0.03, up from ¥0.02 in the previous period[59] Cash Flow - The net cash flow from operating activities increased by 47.91% to ¥4,496,861.85 from ¥3,040,249.33 in the same period last year[8] - Net cash flow from operating activities increased by 47.91% year-on-year, driven by growth in sales revenue and volume[22] - Cash flow from operating activities generated a net amount of ¥4,496,861.85, compared to ¥3,040,249.33 in the previous period, reflecting a 47.9% increase[62] - Net cash flow from financing activities decreased by 65.4% year-on-year, primarily due to a decline in net borrowings by the subsidiary[22] - The net increase in cash and cash equivalents was negative CNY 180.08 million, compared to a positive increase of CNY 9.54 million in the previous year[67] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,141,300,696.94, a 1.05% increase from ¥3,108,565,671.94 at the end of the previous year[8] - The total current assets increased slightly to ¥1,344.62 million from ¥1,331.41 million, showing a growth of about 1%[41] - The company's total assets as of Q1 2019 were CNY 2,174,017,442.90, compared to CNY 2,119,577,423.42 at the end of the previous year[50] - Total liabilities increased to ¥1,163.16 million from ¥1,128.12 million, marking an increase of approximately 3.1%[44] - Total liabilities increased to CNY 217,203,346.89 from CNY 189,898,053.59 in the previous year[49] Investments and Expenses - Research and development expenses grew by 73.41% year-on-year, mainly due to increased funding for high-end product development by the subsidiary Zhongli Synthetic Materials[19] - Financial expenses increased by 68.3% year-on-year, attributed to higher interest payments from increased borrowings by the subsidiary Zhongli Synthetic Materials[19] - Investment income decreased by 32.2% compared to the previous year, primarily due to a reduction in the purchase of bank wealth management products[19] - Research and development expenses increased to CNY 11,365,383.38, up 73.5% from CNY 6,554,109.11 in the previous year[53] - The company incurred financial expenses of ¥2,684,538.49, a decrease from ¥3,940,027.87 in the previous period, with interest expenses significantly reduced to ¥331,386.01 from ¥8,000.60[57] Inventory and Receivables - Accounts receivable increased by 134.44% compared to the beginning of the year, mainly due to an increase in bank acceptance bill differences received and paid by the subsidiary[17] - Prepayments increased by 37.75% compared to the beginning of the year, driven by increased advance payments for equipment related to the production project of thermoplastic elastomer materials[17] - The company's inventory rose to ¥479.04 million from ¥472.69 million, indicating an increase of approximately 1.1%[41] Shareholder and Equity Information - The total equity attributable to the parent company increased to ¥1,797.03 million from ¥1,785.95 million, reflecting a growth of about 0.6%[44] - The company's retained earnings increased to ¥171.68 million from ¥159.88 million, showing an increase of approximately 7.4%[44] - The company reported no overdue commitments from major shareholders or related parties during the reporting period[33] - There were no violations regarding external guarantees during the reporting period[34] Other Financial Information - The company did not undergo an audit for the first quarter report, indicating that the financial data has not been independently verified[68]
浙江众成:关于举行2018年度网络业绩说明会及“投资者接待日”活动的公告
2019-04-29 10:57
证券代码:002522 证券简称:浙江众成 公告编号:2019-015 浙江众成包装材料股份有限公司 关于举行 2018 年度网络业绩说明会及"投资者接待日"活 动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整,没有虚假记载、误导性陈述或重大遗漏。 浙江众成包装材料股份有限公司(以下简称"公司")将于2019年5月9日(星 期四)下午15:00-17:00举行2018年度网络业绩说明会。 本次说明会采用网络远程的方式举行,投资者可通过以下方式参与本次年度 业绩说明会。 参与方式一:在微信中搜索"约调研"小程序; 参与方式二:微信扫一扫以下二维码: 投资者依据提示,授权登入"约调研"微信小程序,点击"网上说明会", 搜索"浙江众成",即可参与交流。 出席本次说明会的人员有:公司董事长、总经理陈健先生,董事、财务负责 人、副总经理董卫平先生,董事会秘书、副总经理许丽秀女士,独立董事汪萍女 第 1 页 共 2 页 士和保荐代表人胡伊苹女士。 此外,公司将于 2018 年度股东大会召开日举办投资者接待日活动,具体如 下: 1、时间:2018 年 5 月 16 日下午 16:00-17:00; 2、 ...
浙江众成(002522) - 2018 Q4 - 年度财报
2019-04-24 16:00
Financial Performance - In 2018, the company's operating revenue reached ¥1,048,780,336.92, representing a 65.14% increase compared to ¥635,085,675.75 in 2017[16] - The net profit attributable to shareholders decreased by 47.18% to ¥35,916,005.04 from ¥68,003,274.80 in the previous year[16] - The net profit after deducting non-recurring gains and losses fell by 74.26% to ¥13,324,965.03, down from ¥51,764,680.45 in 2017[16] - Basic and diluted earnings per share were both ¥0.04, a decrease of 50% from ¥0.08 in 2017[16] - The total assets at the end of 2018 were ¥3,108,565,671.94, reflecting a 5.94% increase from ¥2,934,323,776.85 in 2017[16] - The net assets attributable to shareholders decreased by 1.44% to ¥1,785,954,949.38 from ¥1,812,122,883.20 in the previous year[16] - The company achieved a total operating revenue of 1,048.78 million yuan in 2018, representing a year-on-year growth of 65.14%[39] - The net profit attributable to the parent company was 35.92 million yuan, a decrease of 47.18% compared to the previous year[39] - The company reported a 22.80% decline in other business income, totaling ¥20,019,766.06[46] Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥54,380,762.98, compared to a negative cash flow of ¥199,905,927.77 in 2017[16] - The net cash flow from operating activities was ¥3.04 million in Q1, significantly increasing to ¥27.97 million in Q3, but turned negative at -¥1.73 million in Q4[20] - Operating cash inflow totaled ¥1,156,577,722.20, a 74.87% increase year-on-year, while operating cash outflow was ¥1,102,196,959.22, up 27.97%[62] - The company's cash and cash equivalents increased by 7.53% to ¥172,014,933.24[63] - The total amount of investment income was ¥14,425,396.01, reflecting a decrease of 463.90% compared to the previous year[66] - The total actual use of raised funds in 2018 amounted to ¥121.01 million, with a cumulative expenditure of ¥1.28 billion, including ¥1.10 billion directly invested in committed projects[79] Business Segments and Market Position - The company's POF shrink film products accounted for approximately 64% of total sales revenue, while thermoplastic elastomers contributed around 35%[28] - The company maintained its position as the largest domestic producer of POF shrink film, with sales exceeding 31,000 tons in 2018, ranking second globally[29] - The thermoplastic elastomer segment is in a rapid development phase, with the company achieving stable high-quality production of environmentally friendly SBS and trial sales of SEBS and SEPS products[31] - The market for POF shrink films is expanding, driven by the growth of the fast-moving consumer goods sector and innovations in packaging technology[29] - The revenue contribution from POF heat shrink film products decreased to 25.68% in 2018 from 33.96% in 2017[48] Risks and Challenges - The company faces risks including raw material price fluctuations, supplier concentration, and exchange rate volatility[5] - The company generates approximately 60% of its revenue from exports, making it vulnerable to exchange rate fluctuations, particularly with USD and EUR[99] - Over 80% of the company's raw materials are imported, primarily from major suppliers like Dow Chemical and BASF, exposing the company to supply concentration risks[99] - The company reported significant losses in its subsidiary due to high management and operational costs, impacting the consolidated financial results[91] Research and Development - The company has adopted a "sales-driven production" model, responding to specific customer requirements for non-standardized products[26] - The company emphasizes high-end and differentiated market strategies, leading to stable growth in high-value-added products like cross-linked films and printed films[40] - The company maintains a strong focus on R&D, combining independent innovation with collaborative development to enhance product structure and introduce new products[41] - The company is actively developing high-performance functional polypropylene film, with over ten related invention patents obtained[41] Shareholder and Governance - The company plans to distribute a cash dividend of ¥0.30 per 10 shares, based on a total share capital of 905,779,387 shares[5] - The company declared a cash dividend of CNY 27,173,381.61 for the fiscal year 2018, which represents 75.66% of the net profit attributable to ordinary shareholders[112] - The company has committed to avoiding non-operational fund occupation by controlling shareholders and related parties, ensuring compliance with commitments made during the IPO[115] - The company has maintained a consistent dividend payout ratio over the past three years, with ratios of 75.66%, 79.92%, and 87.60% for 2018, 2017, and 2016 respectively[112] Environmental and Social Responsibility - The company has implemented effective pollution control measures, ensuring that all emissions meet legal standards, with no exceedances reported[171] - The company has received environmental impact assessment approvals for all projects and has obtained pollution discharge permits[172] - The company has established a charity fund, donating nearly 1.3 million RMB to various social causes, including support for the elderly and education[167] Financial Management and Asset Management - The company has engaged in cash asset management, with a total of ¥216,824 million in entrusted financial management, sourced from self-owned funds and idle raised funds[146] - The company reported a total of ¥22,212 million in overdue amounts from entrusted financial management, with no overdue amounts yet to be recovered[146] - The company has shown a commitment to transparency in reporting the performance and yields of its financial products[161] Strategic Initiatives - The company plans to enhance market development and customer acquisition efforts, focusing on both domestic and international markets for heat shrink film products[94] - The company aims to strengthen new product development, particularly in thermoplastic elastomers and high-barrier heat shrink films, to diversify its product structure and expand profit sources[95] - The company is positioned to leverage these funds for potential market expansion and new product development initiatives[188]
浙江众成(002522) - 2018 Q3 - 季度财报
2018-10-29 16:00
Financial Performance - Operating revenue for the reporting period was CNY 294,586,009.20, an increase of 88.36% year-on-year [8]. - Net profit attributable to shareholders was CNY 12,368,018.59, a decrease of 49.26% compared to the same period last year [8]. - Basic earnings per share were CNY 0.01, a decrease of 66.67% year-on-year [8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7,688,839.02, a decrease of 59.02% year-on-year [8]. - The company's operating revenue increased by 67.61% compared to the same period last year, primarily due to significant sales from its subsidiary, which began production and sales in the previous quarter [21]. - The company's operating costs rose by 111.61% year-on-year, largely driven by the same subsidiary's increased production and sales activities [21]. - The company's net profit attributable to shareholders is expected to decrease by 50.00% to 0.00% for the year, with a projected range of net profit between 34,001.7 and 68,003.3 thousand yuan [30]. Cash Flow and Assets - Total assets at the end of the reporting period were CNY 2,852,465,177.02, a decrease of 2.79% compared to the end of the previous year [8]. - The net cash flow from operating activities was CNY 27,972,889.70, a decrease of 115.68% year-on-year [8]. - Cash flow from operating activities decreased by 132.69% year-on-year, reflecting a significant cash outflow in the previous year due to land use rights acquisition [25]. - The company's accounts receivable increased by 28.27% compared to the beginning of the year, attributed to increased sales in the POF shrink film business [17]. - Other receivables increased by 574.29% compared to the beginning of the year, mainly due to increased guarantee payments [18]. - Short-term borrowings decreased by 30.57% compared to the beginning of the year, as the subsidiary repaid part of its short-term financing [20]. - The company's long-term payables increased by 105,259,518.08 yuan, primarily due to financing lease activities by the subsidiary [20]. - The company's minority shareholders' equity decreased by 21.01% year-on-year, mainly due to a reduction in capital by a minority shareholder and associated losses [20]. Investments and Returns - Investment income increased by 44.87% year-on-year, driven by an increase in bank wealth management products purchased [23]. - The company reported a total investment amount of 1,300 million with an annualized return rate of 4.05% for the period ending February 2018 [38]. - The company achieved a revenue of 1,200 million with an annualized return rate of 4.30% for the period ending October 2018 [38]. - The company reported a total investment amount of 3,000 million with an annualized return rate of 5.20% for the period ending March 2018 [38]. - The company is focusing on expanding its investment portfolio with a new product offering a return rate of 5.30% for the period ending June 2018 [38]. - The company has plans to enhance its market presence through strategic partnerships and product diversification [38]. - The company is committed to maintaining a stable return for its investors while exploring new growth opportunities in the market [38]. Floating Income - The company reported a total of 4,000 million in floating income from the bank contracts, with an interest rate of 5.20% [39]. - The company has a floating income of 2,000 million from Huaxia Bank with an interest rate of 4.70% [40]. - The company achieved a floating income of 3,800 million from Pudong Development Bank at an interest rate of 5.20% [40]. - The company has a floating income of 500 million from the Transportation Bank with an interest rate of 3.40% [40]. - The company secured a floating income of 2,000 million from the same bank with an interest rate of 5.20% [40]. - The company has a floating income of 4,000 million from the bank contracts, with an interest rate of 4.70% [40]. - The company reported a floating income of 1,500 million from the bank contracts, with an interest rate of 5.10% [39]. - The company has a floating income of 2,000 million from the bank contracts, with an interest rate of 5.10% [39]. - The company achieved a floating income of 4,000 million from the bank contracts, with an interest rate of 5.20% [39]. - The company reported a floating income of 500 million from the bank contracts, with an interest rate of 4.90% [39]. - The company reported a total of 5,050 million in floating income from the Shanghai Pudong Development Bank with an interest rate of 4.65% [41]. - The company secured 3,000 million in floating income from Industrial Bank with an interest rate of 4.70% [41]. - The company achieved 3,087 million in floating income from Industrial Bank with an interest rate of 3.59% [41]. - The company obtained 2,000 million in floating income from Industrial Bank with an interest rate of 5.45% [41]. - The company has a floating income of 2,600 million from Industrial Bank with an interest rate of 5.35% [41]. - The company secured 2,000 million in floating income from Ningbo Bank with an interest rate of 4.50% [42]. - The company achieved 725 million in floating income from Ningbo Bank with an interest rate of 4.40% [42]. - The company reported 1,000 million in floating income from China Merchants Bank with an interest rate of 4.50% [42]. - The company has 2,500 million in floating income from China Construction Bank with an interest rate of 3.20% [42]. - The company secured 2,000 million in floating income from China Construction Bank with an interest rate of 3.20% [42]. Strategic Initiatives and Future Outlook - The company is actively engaging in investor relations, with a site visit conducted on July 26, 2018, to enhance communication with institutional investors [45]. - The company has reported a significant increase in user data, with a notable rise in customer engagement metrics [44]. - Future outlook indicates a focus on expanding market presence and enhancing product offerings through new technology development [44]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio [44]. - The company has set performance guidance for the next quarter, aiming for a revenue growth of approximately 10% [44]. - The company is committed to improving operational efficiency and reducing costs through strategic initiatives [44]. - The company is investing in research and development to innovate new products that meet market demands [44].
浙江众成(002522) - 2018 Q2 - 季度财报
2018-08-28 16:00
Financial Performance - The company's operating revenue for the first half of 2018 was ¥483,052,636.09, representing a 57.07% increase compared to ¥307,546,557.36 in the same period last year[16]. - The net profit attributable to shareholders was ¥24,998,864.09, a decrease of 39.85% from ¥41,562,559.45 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥14,507,186.48, down 60.15% from ¥36,401,814.14 year-on-year[16]. - The net cash flow from operating activities increased by 314.24% to ¥28,134,427.78, compared to ¥6,791,767.53 in the same period last year[16]. - The basic earnings per share were ¥0.03, down 40.00% from ¥0.05 in the same period last year[16]. - The diluted earnings per share were also ¥0.03, reflecting a 40.00% decrease compared to ¥0.05 in the previous year[16]. - The weighted average return on equity was 1.37%, down from 2.52% in the same period last year, a decrease of 1.15%[16]. Revenue Breakdown - The company achieved a total revenue of 483.05 million yuan, an increase of 17.55 million yuan year-on-year[31]. - The POF shrink film business generated revenue of 294.88 million yuan, maintaining stability compared to the previous year[31]. - The thermoplastic elastomer business contributed 177.49 million yuan in revenue, marking a significant breakthrough from zero[31]. - The thermoplastic elastomer business's revenue share increased from 0% to 37% of total revenue, becoming a significant source of income[25]. Investment and Projects - The company is investing in a project to produce 120,000 tons of thermoplastic elastomer materials, contributing to increased asset balances[26]. - The company has filed over ten invention patents related to high-performance functional polypropylene films[33]. - The company has committed to invest a total of 211.34 million yuan in the new 3.4-meter polyolefin shrink film production line project, with an actual investment of 234.06 million yuan, achieving 100.10% of the planned investment[61]. - The annual production line for 2,000 tons of printing film construction project has a total investment of 41.13 million yuan, with an actual investment of 47.99 million yuan, reaching 116.69% of the planned investment[61]. Financial Position - The total assets at the end of the reporting period were ¥2,945,513,786.69, a slight increase of 0.38% from ¥2,934,323,776.85 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 1.58% to ¥1,783,403,809.52 from ¥1,812,122,883.20 at the end of the previous year[16]. - The company's total assets included ¥450,427,323.28 in inventory, reflecting a significant increase due to the subsidiary's operations[46]. - The company's fixed assets increased significantly by 16.36% year-on-year, reaching approximately CNY 1.25 billion due to the completion of the "annual production of 120,000 tons of thermoplastic elastomer materials" project[47]. Cash Flow and Expenses - Financial expenses surged by 1,301.35% to ¥15,480,572.97, attributed to increased interest expenses from various borrowings[36]. - The company experienced a significant decline in cash and cash equivalents, with a net increase of only ¥14,698,783.05, down 92.25% from ¥189,664,837.65[37]. - The company reported a significant increase in inventory, attributed to the operational commencement of its subsidiary, leading to a substantial year-on-year growth in inventory levels[47]. Risks and Challenges - The company faces significant risks including raw material price fluctuations, with key materials being linear low-density polyethylene and copolymer polypropylene, which are linked to international crude oil prices[77]. - Over 80% of the company's raw materials are imported from major suppliers such as Dow Chemical, Basell, and Itochu, leading to a concentration risk in supply[78]. - The company generates approximately 60% of its revenue from exports, making it vulnerable to exchange rate fluctuations, particularly with USD and EUR[78]. - The company has faced challenges in achieving expected benefits from the new 3.4-meter polyolefin shrink film production line projects due to intense competition and slower-than-expected market promotion[62]. Corporate Governance - The company has maintained compliance with all commitments made during its initial public offering and refinancing[88]. - The company reported no penalties or rectification measures during the reporting period[94]. - The company has not undergone any bankruptcy restructuring during the reporting period[91]. - The financial report for the half-year period has not been audited[89]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 39,914[131]. - The largest shareholder, Chen Dakuai, holds 43.95% of the shares, totaling 398,079,400 shares, with 141,068,200 shares pledged[131]. - The company did not issue or list any securities during the reporting period[129]. - The total number of shares after the changes is 905,779,387, maintaining 100% of the total shares[123].
浙江众成(002522) - 2018 Q1 - 季度财报
2018-04-27 16:00
Financial Performance - The company's operating revenue for Q1 2018 was ¥225,854,665.25, representing a 53.49% increase compared to ¥147,149,547.54 in the same period last year[8] - The net profit attributable to shareholders decreased by 39.91% to ¥11,482,911.01 from ¥19,109,456.73 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 61.88% to ¥5,877,782.60 compared to ¥15,420,479.39 in the previous year[8] - The company's net cash flow from operating activities decreased by 72.20% to ¥3,040,249.33 from ¥10,936,648.88 in the same period last year[8] - The company's investment income rose by 73.08% year-on-year, attributed to an increase in purchased bank financial products[25] - The company's financial expenses surged by 740.26% year-on-year, primarily due to exchange losses from USD fluctuations and increased interest expenses from loans[25] - The company's net profit attributable to shareholders decreased by 39.91% year-on-year, influenced by increased depreciation and financial expenses[25] - The net profit attributable to shareholders for the first half of 2018 is expected to range from 20.78 million to 41.56 million CNY, reflecting a decrease of 50% to 0% compared to the same period in 2017[36] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥2,965,824,214.76, a 1.07% increase from ¥2,934,323,776.85 at the end of the previous year[8] - The company's net assets attributable to shareholders increased by 0.54% to ¥1,821,861,191.78 from ¥1,812,122,883.20 at the end of the previous year[8] - The company's long-term payables increased by 137.48 million yuan, as the subsidiary engaged in financing lease activities[22] Cash Flow and Working Capital - The company's cash and cash equivalents decreased by 25.11% compared to the beginning of the year, primarily due to increased payments by its subsidiary[17] - The company's net cash flow from operating activities decreased by 72.2% compared to the previous year, mainly due to increased cash payments to employees[26] - Prepayments increased by 66.9% compared to the beginning of the year, mainly due to increased operational payments[18] - The company's prepayments for equipment increased by 60.98% compared to the beginning of the year[20] - The company's advance receipts increased by 366.66% year-on-year, reflecting a rise in sales orders[20] - Other receivables increased by 150.58% compared to the beginning of the year, mainly due to increased guarantee deposits[19] Operational Developments - The company's operating costs grew by 81.88% year-on-year, largely driven by the same subsidiary's increased sales and production scale[23] - The company's construction in progress increased by 26.31% compared to the beginning of the year, attributed to the ongoing investment in a new production project[19] - The company’s subsidiary, Zhonglihe, is partially operational, with production currently focused on basic products, indicating a need for further product line development[36] - The company is focused on enhancing its product series as the subsidiary's project progresses towards full completion[36] Financial Outlook and Risks - Increased depreciation expenses due to the transition of completed buildings into fixed assets is expected to impact profitability negatively[36] - The company anticipates a rise in financial expenses due to exchange losses from the relative depreciation of the US dollar[36] - The financial outlook for the first half of 2018 indicates a cautious approach due to anticipated increases in operational costs and financial expenses[36] Corporate Governance - No violations of external guarantees were reported during the reporting period[37] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[38] - The company conducted investor relations activities, including on-site investigations on February 6 and March 23, 2018[39] - The company’s financial performance is under scrutiny due to the ongoing optimization of production facilities[36]
浙江众成(002522) - 2017 Q4 - 年度财报
2018-04-24 16:00
Financial Performance - The company's operating revenue for 2017 was CNY 635,085,675.75, representing a 17.87% increase compared to CNY 538,793,260.45 in 2016[17] - The net profit attributable to shareholders decreased by 34.23% to CNY 68,003,274.80 from CNY 103,395,241.38 in the previous year[17] - The net profit after deducting non-recurring gains and losses was CNY 51,764,680.45, down 42.95% from CNY 90,730,652.33 in 2016[17] - Basic earnings per share decreased by 33.33% to CNY 0.08 from CNY 0.12 in 2016[17] - The company's net profit for the year was CNY 100.59 million, a decrease of 10.66% compared to the previous year[38] - The company reported a net profit of -87,402,660 for the year, significantly impacting overall performance due to high management and financial costs during the project construction phase[99] Cash Flow - The net cash flow from operating activities was negative at CNY -199,905,927.77, a decline of 234.28% compared to CNY 148,870,583.81 in 2016[17] - The net cash flow from operating activities was CNY 10.94 million, a significant improvement compared to a negative cash flow of CNY 4.14 million in 2016[22] - Operating cash inflow totaled ¥661,400,299.70, a 14.26% increase from the previous year[62] - Operating cash outflow surged by 100.31% to ¥861,306,227.47, resulting in a net cash flow from operating activities of -¥199,905,927.77, a decline of 234.28%[63] - Investment cash inflow increased by 16.23% to ¥1,758,714,178.69, while outflow rose by 19.27% to ¥2,126,729,458.36, leading to a net cash flow of -¥368,015,279.67[63] - Financing cash inflow decreased slightly by 1.03% to ¥1,026,737,617.35, but cash outflow dropped significantly by 66.81% to ¥292,954,453.94, resulting in a net cash flow of ¥733,783,163.41, up 374.33%[63] Assets and Investments - Total assets at the end of 2017 were CNY 2,934,323,776.85, an increase of 40.72% from CNY 2,085,223,171.06 at the end of 2016[17] - The net assets attributable to shareholders increased by 24.93% to CNY 1,812,122,883.20 from CNY 1,450,480,813.98 in 2016[17] - The company has established a wholly-owned subsidiary in the U.S. with an investment of approximately USD 9.8 million, representing 2.55% of the company's net assets[31] - The company has invested CNY 27.14 million in R&D, a 35.24% increase from the previous year, accounting for 4.45% of total revenue[38] - The company has invested 9,517,696.07 yuan in a high-performance functional polypropylene film project, with a total actual investment of 31,834,510.86 yuan[78] Revenue Breakdown - The company achieved a revenue of CNY 610.61 million in 2017, representing a year-on-year growth of 15.19%, with POF cross-linked film revenue increasing by 25.59%[38] - The company’s overseas revenue reached CNY 355.69 million, making up 56.01% of total revenue, with a slight increase of 0.25% year-on-year[43] - The company’s domestic revenue was CNY 253.47 million, accounting for 39.91% of total revenue, showing a slight decrease of 0.16% year-on-year[43] - The company sold over 25,000 tons of POF shrink film in 2017, maintaining its position as the largest producer in China and the second largest globally[29] Research and Development - The company has a significant focus on R&D, continuously introducing high-end and new products, which has led to a diverse product range in the POF shrink film sector[32] - The number of R&D personnel rose by 38.33% to 83, accounting for 10.40% of the total workforce[60] - The company is committed to increasing its R&D efforts to develop new products and technologies, aiming to avoid risks associated with a single product structure[110] Risks and Challenges - The company faces risks including raw material price fluctuations, supplier concentration, and exchange rate volatility[5] - The company has identified risks related to raw material price fluctuations, particularly due to its reliance on linear low-density polyethylene and copolymer polypropylene, which are linked to international oil prices[106] - The company acknowledges a talent shortage risk, particularly in specialized R&D and management roles, which could hinder business development[109] - The company faces foreign exchange risk as over 80% of its raw materials are sourced internationally, and approximately 60% of its revenue comes from exports, primarily denominated in USD[107] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares, totaling CNY 54,347,732.22 based on the total share capital of 905,779,387 shares[5] - The total cash dividend for 2017 is RMB 54,346,763.22, which accounts for 28.8% of the distributable profit of RMB 188,969,713.56[122] - The company has committed to maintaining a minimum cash dividend ratio of 20% during profit distribution[122] Corporate Governance - The company is committed to improving its governance structure and ensuring compliance with regulatory requirements to support sustainable development[103] - The company has adhered to all commitments made by its actual controllers and shareholders during the reporting period[123] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[126] Shareholder Structure - The major shareholder, Chen Dakuai, holds 43.95% of the shares, with a total of 398,079,400 shares pledged[194] - The company has a total of 44,275 shareholders at the end of the reporting period[194] - The shareholder structure includes both natural persons and trust companies, indicating a diverse ownership base[195] Acquisitions and Equity Changes - The company acquired 100% equity of Pinghu Zhongli Real Estate Co., Ltd. in July 2017, which was included in the consolidated financial statements from that date[132] - The company reduced its stake in Cangzhou Zhongcheng Packaging Materials Co., Ltd. from 62.50% to 40% after transferring 22.50% equity for RMB 2,250,000, losing control and excluding it from the consolidated financial statements[133] Financial Management - The company has entrusted 218.15 million CNY in financial management, with an outstanding balance of 47.3 million CNY[153] - The company has engaged in various bank financial products, including a non-principal guaranteed product amounting to 11 million CNY with a yield of 4.30%[156] - The company has successfully recovered all amounts from entrusted financial management activities during the reporting period[156]
浙江众成(002522) - 2017 Q3 - 季度财报
2017-10-30 16:00
Financial Performance - Total assets increased by 28.89% to CNY 2,687,680,892.22 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 24.82% to CNY 1,810,529,294.51 compared to the end of the previous year[8] - Operating revenue for the reporting period was CNY 156,398,623.80, representing a year-on-year increase of 23.41%[8] - Net profit attributable to shareholders decreased by 5.28% to CNY 24,373,838.65 compared to the same period last year[8] - Basic earnings per share remained at CNY 0.03, unchanged from the previous period[8] - The company's operating revenue increased by 22.16% compared to the same period last year, primarily due to increased sales volume of POF shrink film products[22] - The company's investment income increased by 45.32% year-on-year, attributed to increased returns from bank wealth management products[23] - The estimated net profit attributable to shareholders for 2017 is projected to be between ¥51.70 million and ¥103.40 million, representing a decrease of 0% to 50% compared to the previous year's net profit of ¥103.40 million[43] - The increase in operating income and adjustments in product structure are expected to contribute to profit growth, despite rising personnel and management costs due to the trial production of a subsidiary[43] Cash Flow and Financial Position - Net cash flow from operating activities was negative at CNY -178,428,627.78, a decrease of 250.09% compared to the same period last year[8] - The company's net cash flow from operating activities decreased by 250.09% year-on-year, primarily due to significant cash outflows related to the acquisition of land use rights[24] - The company’s monetary funds increased by 38.98% compared to the beginning of the year due to non-public stock issuance financing[17] - The company's short-term borrowings increased by 188.89% compared to the beginning of the year, primarily due to increased borrowings by the subsidiary from financial institutions[19] - The company's long-term borrowings rose by 51.94% compared to the beginning of the year, driven by the need for funding for the construction of the 120,000-ton thermoplastic elastomer production project[20] - The company's financial expenses surged by 147.42% year-on-year, mainly due to increased interest expenses from subsidiary borrowings[22] - The company's inventory increased by 227.59% compared to the beginning of the year, primarily due to increased raw material purchases for the subsidiary's production ramp-up[18] - The company's employee compensation payable increased by 34.02% compared to the beginning of the year, due to an increase in personnel and employee benefits[19] Shareholder Information - The top shareholder, Chen Dakuai, holds 43.95% of the shares, with a total of 398,079,400 shares pledged[12] - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[41] Compliance and Governance - The company has committed to avoiding related party transactions and ensuring no unfair benefits are transferred to other entities or individuals[38] - There are no reported violations regarding external guarantees during the reporting period[44] - The company has not engaged in any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[45] - The company has implemented a long-term commitment to avoid competition with Zhejiang Zhongcheng Packaging Materials Co., Ltd[38] - The company is focused on maintaining compliance with its commitments regarding stock transfers and management practices[38] Government Support and Subsidies - The company received government subsidies amounting to CNY 2,196,910.24 during the reporting period[9] Investment and Fundraising Activities - The total amount of funds raised by Jiaxing Industrial and Commercial Bank was 20,900 million with a return of 118.52[32] - Jiaxing Industrial and Commercial Bank's non-principal guaranteed floating income product raised 11,000 million, yielding 234.55[32] - The total amount raised by CITIC Bank was 1,200 million, with returns of 17.83, 6.94, and 11.85 across different products[34] - The non-principal guaranteed floating income product from CITIC Bank raised 2,500 million, yielding 29.92[34] - The total amount raised by China Merchants Bank was 3,000 million, with returns of 20.98, 23.66, and 34.41[34] - The postal bank's non-principal guaranteed floating income product raised 1,500 million, yielding 33.14[34] - The total amount raised by Huaxia Bank was 2,000 million, with a return of 15.61[34] - Jiaxing Industrial and Commercial Bank's non-principal guaranteed floating income product raised 12,000 million, yielding 34.52[36] - The company redeemed a total of 1,480 million from its account-type financial products during the reporting period[36] - The company purchased a total of 13,900 million in account-type financial products, redeeming the same amount during the reporting period[36] Operational Developments - The subsidiary, Zhongli Composite Materials, has entered the trial production phase, which may lead to increased costs during the initial operational period[43] - There were no research, communication, or interview activities conducted during the reporting period[46]
浙江众成(002522) - 2017 Q2 - 季度财报
2017-08-28 16:00
Financial Performance - The company's operating revenue for the first half of 2017 was CNY 307,546,557.36, representing a 21.53% increase compared to CNY 253,058,019.13 in the same period last year[17]. - The net profit attributable to shareholders decreased by 14.58% to CNY 41,562,559.45 from CNY 48,657,386.67 year-on-year[17]. - The basic earnings per share decreased by 16.67% to CNY 0.05 from CNY 0.06 in the same period last year[17]. - The company's revenue for the first half of 2017 reached ¥293.30 million, representing a year-on-year increase of 19.61%[41]. - The gross profit margin for the plastic products segment was 36.22%, a decrease of 4.60% compared to the previous year[41]. - The company's net profit for the current period was ¥32,355,584.40, a decrease of 28.4% from ¥45,109,603.92 in the previous period[162]. - The company's total comprehensive income for the period was CNY 1,869,607.22, with a significant contribution from profit distribution adjustments totaling CNY -90,577,938.70[180]. Cash Flow and Liquidity - The net cash flow from operating activities significantly dropped by 90.24%, amounting to CNY 6,791,767.53 compared to CNY 69,613,907.80 in the previous year[17]. - The company's cash and cash equivalents increased by 476.77% to approximately ¥189.66 million, mainly due to the successful fundraising from the stock issuance[37]. - The total cash and cash equivalents at the end of the period reached 321,323,273.57 CNY, compared to 125,315,095.07 CNY at the end of the previous period, marking a significant increase[170]. - The cash flow from operating activities showed a net increase of 12,238,006.82 CNY, compared to a much higher 67,741,265.01 CNY in the previous period, indicating a decline in operational efficiency[173]. Investment Activities - The company completed a non-public stock issuance, raising approximately ¥400 million to support the construction of a 120,000-ton thermoplastic elastomer production project[33]. - The investment activities generated a net cash outflow of approximately ¥458.99 million, a 181.81% increase compared to the previous year, due to increased bank financial product purchases[37]. - The company has invested CNY 20,649.96 million in projects during the first half of 2017, including CNY 5,342.96 million directly into committed investment projects and CNY 15,300 million to replace self-raised funds[57]. - The cumulative investment in committed investment projects is CNY 83,071.5 million, with CNY 20,642.9 million invested in the current report period[61]. Assets and Liabilities - The total assets increased by 18.65% to CNY 2,474,177,350.00 from CNY 2,085,223,171.06 at the end of the previous year[18]. - Total liabilities amounted to CNY 559,844,940.06, up from CNY 495,188,544.39, indicating a growth of around 13.06%[152]. - Owner's equity totaled CNY 1,914,332,409.94, compared to CNY 1,590,034,626.67, representing an increase of approximately 20.36%[153]. Market and Product Development - The company is actively expanding into key foreign markets, particularly in North America, leveraging its U.S. subsidiary[32]. - The company is actively expanding its market presence and optimizing its product mix to enhance profitability[41]. - The company plans to diversify its product offerings and reduce reliance on POF shrink film to mitigate risks associated with a single product structure[82]. Compliance and Governance - The company has committed to maintaining compliance with various operational and governance promises made during its public offerings[88]. - The company reported a penalty of RMB 250,000 due to a workplace accident resulting in one employee's death[95]. - The company has not encountered any issues or other situations in the use and disclosure of raised funds from January to June 2017[64]. Risks and Challenges - The company faces risks related to the fluctuation of raw material prices, particularly linear low-density polyethylene and copolymer polypropylene, which are linked to international oil prices[78]. - The company acknowledges a talent shortage risk, particularly in specialized R&D and management roles, which could hinder business development[81]. - There is a risk related to project implementation due to the large investment amounts and long construction periods for new business initiatives[81].
浙江众成(002522) - 2017 Q1 - 季度财报
2017-04-24 16:00
Financial Performance - The company's revenue for Q1 2017 was ¥147,149,547.54, representing a 23.62% increase compared to ¥119,035,812.40 in the same period last year[8]. - Net profit attributable to shareholders decreased by 5.70% to ¥19,109,456.73 from ¥20,265,605.77 year-on-year[8]. - The net profit after deducting non-recurring gains and losses fell by 19.94% to ¥15,420,479.39 compared to ¥19,260,424.93 in the previous year[8]. - The company's operating revenue grew by 23.62% year-on-year, driven by increased sales volume of its main product, POF shrink film[20]. - The estimated net profit attributable to shareholders for the first half of 2017 is projected to be between ¥36.49 million and ¥60.82 million, representing a change of -25.00% to 25.00% compared to the same period in 2016[32]. - The net profit for the first half of 2016 was ¥48.66 million, indicating a potential increase or decrease in profitability for 2017[32]. - The increase in revenue and adjustments in product structure are expected to contribute positively to profit growth, while increased personnel costs and management expenses may negatively impact consolidated profits[32]. - The company is expected to maintain a positive net profit for the first half of 2017, indicating stable operational performance[32]. Cash Flow and Assets - The net cash flow from operating activities surged by 544.17% to ¥10,936,648.88 from ¥1,697,799.43 in the same period last year[8]. - The net cash flow from operating activities increased by 544.17% year-on-year, primarily due to higher cash receipts from sales of goods[22]. - Total assets increased by 23.22% to ¥2,569,427,847.35 from ¥2,085,223,171.06 at the end of the previous year[8]. - Net assets attributable to shareholders rose by 27.97% to ¥1,856,113,182.07 from ¥1,450,480,813.98 at the end of the previous year[8]. - The company's cash and cash equivalents increased by 318.81% compared to the beginning of the year, primarily due to the initiation of a non-public stock issuance[17]. Liabilities and Borrowings - The company's short-term borrowings increased by 60.16% compared to the beginning of the year, primarily to fund the construction of a production project for thermoplastic elastomer materials[18]. - The company's long-term borrowings increased by 42.52% compared to the beginning of the year, reflecting the need for funding for ongoing construction projects[19]. - The company's financial expenses surged by 233.38% year-on-year, mainly due to increased interest expenses from higher borrowings[21]. - The company's accounts payable decreased by 20.61% compared to the beginning of the year, as payments for previously procured equipment and installation projects were made[18]. Investments and Financial Management - The company's capital reserve increased by 131.89% compared to the beginning of the year, due to the initiation of a non-public stock issuance[19]. - The company plans to continue its investment in financial products, indicating future financial management strategies[26]. Corporate Governance and Compliance - The company has committed to not transferring more than 25% of their shares during their tenure and not transferring any shares within six months after leaving their positions[29]. - The company has also made commitments to avoid competition with its own business and to prevent related party transactions[29]. - There were no violations regarding external guarantees during the reporting period[33]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[34]. - The company is in compliance with all commitments made regarding shareholding and financing[31]. Investor Relations - The company has conducted multiple investor relations activities, including site visits on March 2, March 10, March 15, and March 21, 2017[36].