JLSG(SH:600189)2014-04-21 16:00Financial Performance - In 2013, the company achieved operating revenue of CNY 1,339,431,718.34, representing a 4.57% increase compared to CNY 1,280,854,802.26 in 2012[22] - The net profit attributable to shareholders of the listed company for 2013 was CNY 41,153,368.49, up 4.98% from CNY 39,199,308.31 in 2012[22] - The net cash flow from operating activities was CNY 119,100,125.53, a significant recovery from a negative cash flow of CNY -248,948,149.39 in 2012[22] - The total assets of the company increased by 10.44% to CNY 3,402,685,255.20 at the end of 2013, compared to CNY 3,080,988,278.19 at the end of 2012[22] - The company's net assets attributable to shareholders reached CNY 1,333,838,748.69, a slight increase of 0.93% from CNY 1,321,604,492.44 in 2012[22] - The basic earnings per share remained stable at CNY 0.13, unchanged from 2012[23] - The company reported a significant turnaround in net profit after deducting non-recurring gains and losses, achieving CNY 20,456,694.18 in 2013 compared to a loss of CNY -118,171,891.26 in 2012[22] - The weighted average return on net assets increased to 3.11% in 2013, up from 2.95% in 2012, indicating improved profitability[23] Dividends and Cash Management - The company plans to distribute cash dividends of CNY 1.00 per 10 shares, totaling CNY 31,050,000.00, based on the 2013 net profit[5] - In 2013, the company distributed cash dividends of 1.00 RMB per 10 shares, totaling 31,050,000.00 RMB, based on a total share capital of 31,050,000 shares[94] - The cash dividend distribution plan for 2012 was successfully executed, with the record date on July 16, 2013, and the payment date on July 22, 2013[95] - The company maintained a cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring investor rights are protected[95] Research and Development - The company’s R&D expenditure increased by 568.59% to 1,911,346.69 RMB compared to the previous year[35] - Research and development expenses totaled CNY 1.911 million, accounting for 0.14% of both net assets and operating revenue[46] - The company has obtained 47 national-level technology patents, promoting technological innovation and industry upgrades[101] Investments and Acquisitions - The company established a new investment management company and invested 28 million RMB in restructuring a local specialty product company[30] - The company holds a 28.02% stake in Jilin Sen Gong Jin Qiao Floor Group Co., Ltd., with an investment of ¥6.29 million[60] - The company established Jilin Sen Gong Sheng Xin Investment Co., Ltd. with an investment of 200 million yuan, holding 100% equity[63] - The company invested 28 million yuan to restructure Lushuihe Tianxiang Specialty Food Co., Ltd., holding 51.02% equity[63] - The company has a total investment of 163.495 million yuan in various A-share stocks, with a report period profit of 8.90348 million yuan[65] Financial Position and Assets - The company’s total assets for the reporting period were 1.36 billion RMB, with a net profit of 295.22 million RMB[68] - The total assets of the wholly-owned subsidiary, Changchun Jisheng Tongda Microfinance Co., Ltd., reached 255.27 million RMB, with a net profit contribution of 5.08 million RMB to the company[78] - The total assets of Jilin Forest Industrial Group's wholly-owned subsidiary reached CNY 459.22 million, with a net profit contribution of CNY 31.91 million[79] - The total assets of the controlling subsidiary, Fushun Lushuihe Tianxiang Specialty Products Co., Ltd., were CNY 101.47 million, reporting a net loss of CNY 2.78 million, contributing a negative CNY 1.42 million to the company's net profit[80] Market and Sales Performance - The company achieved operating revenue of 1,339,431,718.34 RMB, an increase of 5,857.69 RMB or 4.57% year-on-year[36] - The sales revenue from forest management products was 236,092,300 RMB, an increase of 1,449,470 RMB or 6.54% year-on-year[37] - The sales revenue from engineered wood products was 922,929,400 RMB, an increase of 4,138,830 RMB or 4.69% year-on-year[37] - The company experienced a 27.67% revenue increase in the Northwest region, while the East China region saw a decline of 13.53%[55] Corporate Governance and Management - The company has established a modern corporate governance structure, with a board of directors responsible for daily decision-making and a supervisory board overseeing management actions[183] - The board of directors held twelve meetings during the reporting period, ensuring compliance with legal and regulatory requirements[184] - The company has a strong focus on corporate governance, with independent directors playing a crucial role in oversight[167] - The management team has a wealth of experience in the forestry sector, contributing to the company's operational effectiveness[168] Social Responsibility and Sustainability - The company actively engages in social responsibility initiatives, including disaster relief and community service, contributing to local economic development[104] - The company emphasizes sustainable development through diversified resource management and ecological construction[105] - A special ecological construction fund of CNY 411,533.68 will be allocated for green projects, reflecting the company's commitment to ecological development[5] Risks and Challenges - The company is facing risks from a sluggish market environment and potential raw material shortages due to upcoming logging bans[92] - The company faced natural disasters affecting some subsidiaries during the reporting period[143] Related Party Transactions - The total amount of related party transactions for purchasing wood raw materials reached CNY 47,915,291.75, accounting for 39.93% of the company's expected total related party transactions for daily operations[125] - The total amount for labor services received from related parties was CNY 35,093,258.35, representing 37.05% of the expected total related party transactions[126] - The company has no significant related party transactions involving asset acquisitions or disposals during the reporting period[131] Employee and Board Compensation - The total compensation for the board members and senior management during the reporting period amounted to 5.12 million yuan before tax[163] - The chairman, Bai Guangxin, received a total compensation of 210,300 yuan, while the general manager, Mao Chenju, received 800,100 yuan[163] - The company employed a total of 5,247 staff, with 4,712 in the parent company and 535 in major subsidiaries[175] Shareholder Information - The total number of shares remains unchanged at 310,500,000, with 100% being tradable shares[145] - The largest shareholder, China Jilin Forest Industry Group Co., Ltd., holds 46.9994% of the shares, totaling 145,933,226 shares[150] - The total number of shareholders at the end of the reporting period was 31,879, slightly increasing to 31,984 five trading days before the report[150]