SLSVC(SH:600123)2015-04-20 16:00Financial Performance - The company achieved a net profit attributable to shareholders of 66,776,805.79 CNY in 2014, with the parent company reporting a net profit of 231,645,080.81 CNY[2]. - Basic earnings per share decreased by 93.33% to 0.0585 CNY in 2014 from 0.8765 CNY in 2013[23]. - The company reported a revenue of CNY 5.22 billion in 2014, a decrease of 20.70% compared to CNY 6.58 billion in 2013[24]. - Net profit attributable to shareholders was CNY 66.78 million, down 93.33% from CNY 1.00 billion in the previous year[24]. - The company reported a significant increase in accounts receivable dividends to ¥366,882,472.28, up 52.28% from the previous period[53]. - The company reported a total revenue of 128,108 million CNY for the year 2014, with a net profit of 645.49 million CNY[123]. Dividends and Profit Distribution - The proposed cash dividend is 0.18 CNY per 10 shares, totaling 20,563,200 CNY to be distributed, with no stock dividends or capital reserve transfers planned for the year[2]. - The company achieved a net profit attributable to shareholders of 66.78 million RMB in 2014, with a cash dividend of 20.56 million RMB, representing 30.79% of the net profit[83]. - The company distributed CNY 685,440,000.00 to shareholders during the reporting period, indicating a significant return on investment[188]. Operational Efficiency and Cost Control - The company implemented cost control measures, resulting in a decrease in coal production cost by 5.34% to CNY 248.81 per ton[30]. - The company is focusing on enhancing management innovation and cost control to improve operational efficiency and reduce losses[69]. - The company is committed to optimizing its investment budget based on project profitability and ensuring safety and quality in project execution[66]. Production and Sales - Coal production increased by 6.39% to 6.71 million tons, while urea production decreased by 24.98% to 1.20 million tons[31]. - The company experienced a significant decline in urea average selling price, which was CNY 1,562.90 per ton, a decrease of 13.07% year-on-year[28]. - The total coal production for the year was 6.71 million tons, with a total sales revenue of 5.22 billion yuan[46]. - The company aims to produce 7.13 million tons of coal and 1.19 million tons of urea in 2015, with a sales revenue target of 5.6 billion RMB and a profit target of 260 million RMB[66]. Research and Development - Research and development expenses increased by 23.25% to CNY 18.01 million in 2014[34]. - The company has established a three-tiered technology innovation system to enhance R&D capabilities and improve technological contributions[55]. - The company is committed to technological innovation and the development of new products to meet market demands[126]. Financial Position and Assets - The total assets of the company increased by 6.59% to CNY 21.83 billion at the end of 2014[24]. - Total liabilities increased to CNY 11.62 billion from CNY 10.00 billion, marking a rise of about 16.2%[167]. - The company's total equity decreased to CNY 10.21 billion from CNY 10.48 billion, a decline of about 2.6%[167]. - The company reported a total guarantee amount of 2.78 billion RMB, which accounts for 29.23% of the company's net assets[93]. Market Conditions and Challenges - The coal market is expected to remain imbalanced in the short term due to macroeconomic factors and environmental constraints[62]. - The company faced risks including safety management challenges in high-risk industries and market pressures from oversupply affecting product prices[75]. - The company reported a significant idle capacity in the urea market, reaching approximately 15 million tons in 2014, with prices dropping to a ten-year low of 1,400 RMB/ton[63][64]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, in compliance with legal requirements[140]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, and finance, actively addressing competition issues through acquisitions[150]. - The audit committee reviewed the impairment provision for the fertilizer subsidiary, agreeing that it complied with accounting standards and reflected the company's financial condition accurately[148]. Environmental Responsibility - The company is committed to environmental protection and has not experienced any environmental responsibility incidents during the year[80]. - The company invested a total of 34.48 million RMB in environmental protection, with 25.10 million RMB specifically allocated for coal enterprises[82]. - The company completed 17 comprehensive governance projects in environmental protection, including clean production audits and dust suppression projects[84].