SLSVC(SH:600123)2016-04-25 16:00Financial Performance - In 2015, the company achieved a net profit attributable to shareholders of 13,725,476.99 CNY, a decrease of 79.45% compared to 2014[2]. - The company's operating revenue for 2015 was 4,564,517,116.28 CNY, down 12.49% from 5,215,900,341.81 CNY in 2014[15]. - The net cash flow from operating activities was -2,242,672.42 CNY, a decline of 102.75% compared to the previous year[15]. - The company reported a significant decrease in net profit from regular operations, which was 42,254,429.91 CNY, down 85.47% from 290,791,737.24 CNY in 2014[15]. - Basic earnings per share decreased by 79.49% to CNY 0.0120 in 2015 compared to CNY 0.0585 in 2014[16]. - The company achieved a total sales revenue of 4.564 billion yuan, a year-on-year decrease of 12.49%[47]. - Net profit attributable to the parent company was 13.7255 million yuan, down 79.45% year-on-year[42]. - The company reported a total profit before interest, taxes, depreciation, and amortization (EBITDA) of 686,415,375.36 yuan, a decrease of 14.32% from the previous year[165]. Assets and Liabilities - The total assets at the end of 2015 were 22,120,674,701.75 CNY, reflecting a 1.32% increase from 21,833,109,679.15 CNY in 2014[15]. - The company's total liabilities reached CNY 11,939,209,896.91, compared to CNY 11,619,358,601.23 at the start of the year, indicating a growth in liabilities[180]. - The company's total equity attributable to shareholders of the parent company was CNY 9,626,444,066.66, up from CNY 9,519,916,706.77 at the beginning of the year[181]. - The company's asset-liability ratio increased by 0.75 percentage points compared to the previous year[114]. - The total liabilities to equity ratio was approximately 1.17, indicating a relatively high leverage position[180]. Production and Sales - The company produced a total of 6.63 million tons of coal and sold 6.63 million tons in 2015[23]. - The company’s total production capacity for urea is 120,000 tons per year, with a total production of 125.08 million tons in 2015[23]. - The average selling price of coal was 214.90 RMB/ton, a decrease of 13.63% year-on-year; urea was 1,355.69 RMB/ton, down 6.96%; and dimethyl ether was 2,604.36 RMB/ton, down 14.12%[40]. - The company faced industry-wide losses due to oversupply and low demand, with urea production reaching 71 million tons in China, a 7.7% increase year-on-year, but with total demand below 50 million tons[30]. - The company reported a total sales revenue of 76,612,000 RMB from Dayang Coal Mine, with a profit of 14,441,000 RMB[29]. Investments and Projects - The company completed an investment of 2.534 billion RMB in the caprolactam project, achieving 99% of the planned investment[41]. - The total investment in the Yuxi Coal Mine project is 210 million yuan, with 18.4364 million yuan invested this year, bringing the cumulative investment to 140.74555 million yuan[74]. - The company reported a total investment of 853.23283 million yuan across various projects, with 80.42025 million yuan invested this year, and a cumulative total of 676.9047 million yuan[75]. - The company is actively pursuing market expansion and product structure adjustments, including the development of compound fertilizers tailored for specific crops[41]. Dividends and Shareholder Returns - The board proposed a cash dividend of 1 CNY per 10 shares, totaling 11,420,000 CNY to be distributed[2]. - The company approved a cash dividend of 0.18 yuan per share, totaling approximately 20.56 million yuan, as part of its shareholder return plan[90]. - In 2015, the company distributed a cash dividend of 1.00 RMB per 10 shares, totaling 114,200,000 shares, with a net profit attributable to shareholders of 13,725,476.99 RMB, resulting in a profit distribution rate of 832.03%[91]. Market Conditions and Challenges - The company faced uncertainties in achieving its 2016 operational goals due to market and policy factors affecting the coal and chemical industries[4]. - The company is focusing on integrating its coal, fertilizer, and chemical production to enhance operational efficiency and market competitiveness[23]. - The company faces significant risks, including safety risks in high-hazard industries and market risks due to ongoing economic pressures and overcapacity in coal and urea markets[86]. - The company maintained a stable operational performance despite severe market conditions, focusing on cost control and efficiency improvements[38]. Employee and Management - The total number of employees in the parent company is 13,595, while the total number of employees in major subsidiaries is 5,705, resulting in a combined total of 19,300 employees[135]. - The total remuneration for all directors, supervisors, and senior management personnel is 5.1501 million yuan[133]. - The company has implemented a salary control system linked to operational indicators to improve overall employee efficiency[136]. - The company plans to enhance its training management system to improve employee skills and overall quality[137]. Governance and Compliance - The company maintained independence in operations, decision-making, and financial matters, with no interference from the controlling shareholder[141]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant regulations[146]. - The company has established a transparent information disclosure system, ensuring timely and accurate reporting to investors[141]. - The company’s supervisory board found no significant risk issues during the reporting period, indicating effective oversight[151].