Financial Performance - The net profit attributable to the parent company's shareholders for 2019 was RMB 2,213,716 thousand, while the net profit according to IFRS was RMB 2,215,728 thousand[6]. - The proposed dividend for 2019 is RMB 0.12 per share (including tax), pending approval at the annual general meeting[6]. - The net sales for 2019 were RMB 88,055.7 million, a decrease from RMB 95,613.5 million in 2018[12]. - The profit before tax for 2019 was RMB 2,656.1 million, down from RMB 6,808.1 million in 2018, representing a decline of approximately 61.0%[12]. - The net profit attributable to shareholders for 2019 was RMB 2,215.7 million, a significant drop of 58.5% compared to RMB 5,336.3 million in 2018[12]. - Basic earnings per share for 2019 were RMB 0.205, down 57.99% from RMB 0.488 in 2018[16]. - The total revenue for 2019 was RMB 100.27 billion, a decrease of 6.89% compared to the previous year[163]. - The operating profit for 2019 was RMB 1,320.5 million, representing 1.5% of total sales revenue[180]. - The net profit attributable to shareholders for the year was RMB 2,215.7 million, accounting for 2.5% of total sales revenue[180]. Assets and Liabilities - The total assets as of December 31, 2019, were RMB 45,494.1 million, an increase from RMB 44,385.9 million in 2018[12]. - The total liabilities as of December 31, 2019, were RMB 15,500.2 million, up from RMB 13,923.5 million in 2018[12]. Cash Flow - The cash flow from operating activities for 2019 was RMB 5,121.2 million, a decrease of 23.51% from RMB 6,695.1 million in 2018[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 87,549, down from 90,981 at the end of the previous month[27]. - The largest shareholder, Sinopec Limited, held 5,460,000,000 shares, representing 50.44% of the total shares[28]. - The company did not issue any securities during the reporting period, and there were no changes in the total number of shares or shareholder structure[26]. Corporate Governance - The company has improved its corporate governance structure in compliance with relevant laws and regulations[84]. - The board of directors consists of 10 members, including 4 executive directors, 2 non-executive directors, and 4 independent non-executive directors[102]. - The board held 5 meetings in 2019, with all meetings attended by a majority of directors either in person or by proxy[104]. - The company has established a comprehensive internal control system since 2004, covering production, operations, finance, investment, human resources, and information disclosure[93]. - The company has adopted and implemented the "Code of Conduct for Securities Transactions" to regulate securities trading by directors and supervisors[75]. Risk Management - The company has established risk management and internal control systems to manage business risks and ensure the protection of shareholder assets[142]. - The comprehensive risk management program was established in 2011, with a focus on risk identification, assessment, response, monitoring, and improvement[145]. - The internal audit department is responsible for independent supervision and evaluation of the effectiveness of risk management systems, reporting to the board of directors[146]. Employee Information - The total number of employees in the group is 8,878, with 8,790 in the company and 88 in subsidiaries[78]. - The total compensation for employees during the reporting period amounted to RMB 3,147,372.16 thousand[79]. - The company has implemented a training program aimed at enhancing employee skills and supporting talent development[80]. Market and Product Information - The main products of the group accounted for 100% of the net sales in 2019, with petroleum products making up 48.98% and petrochemical product trading at 24.63%[25]. - The group produced over 60 different products, including synthetic fibers, resins, plastics, and intermediate petrochemical products[24]. - The company actively adjusts its product structure and continuously improves product quality and variety to meet the growing market demand for petrochemical products in China[158]. Audit and Compliance - The financial statements were audited by PwC and Deloitte, both issuing standard unqualified opinions[5]. - The company has not faced any penalties from securities regulatory authorities in the past three years[77]. - The external auditor, PwC, issued an internal control audit report for the financial report as of December 31, 2019, confirming the effectiveness of internal controls[97]. Strategic Goals - The company aims to enhance operational efficiency and aims to become a "domestically leading, world-class" energy and chemical company[11]. - The strategic committee aims to build a "domestically leading, world-class" energy chemical and new materials company, focusing on hydrogen energy and other green energy market research[136]. - The company plans to enhance its development strategy for energy, chemicals, and new materials, with a goal to establish international competitiveness within approximately "two three-year" and "two ten-year" timeframes[136].
上海石油化工股份(00338) - 2019 - 年度财报