FLDT(SH:600228)2016-03-18 16:00Financial Performance - The net profit attributable to shareholders for 2015 was -24,596,514.95 RMB, a decrease of 170.30% compared to the previous year[2]. - The total operating revenue for 2015 was 542,376,142.13 RMB, down 25.27% from 725,819,922.73 RMB in 2014[17]. - The basic earnings per share for 2015 was -0.10 RMB, a decline of 171.43% compared to 0.14 RMB in 2014[18]. - The weighted average return on net assets was -35.27% for 2015[18]. - The company’s total comprehensive income for 2015 was a loss of CNY 21,789,275.63, compared to a profit of CNY 40,385,342.68 in the previous year[148]. - The company reported a net loss for the year of CNY 6,145,205.40, compared to a net loss of CNY 36,716,691.30 in the previous year[147]. - The total profit for the year was a loss of CNY 18,202,915.83, compared to a profit of CNY 40,858,517.90 in the previous year[148]. Cash Flow and Assets - The net cash flow from operating activities was 95,940,276.07 RMB, a significant increase of 1,434.14% compared to 6,253,689.56 RMB in 2014[17]. - The total assets at the end of 2015 were 512,960,994.77 RMB, a decrease of 17.54% from 622,061,438.42 RMB in 2014[17]. - The company’s cash and cash equivalents increased to RMB 39.28 million from RMB 32.88 million, indicating a positive cash flow trend[140]. - The company’s accounts receivable decreased significantly from RMB 67.59 million to RMB 53.07 million, reflecting improved collection efforts[140]. - The company’s total liabilities decreased from RMB 249.50 million to RMB 166.23 million, indicating a reduction in financial obligations[141]. - The company’s short-term borrowings were reduced from RMB 152.25 million to RMB 72.25 million, reflecting a decrease in debt levels[141]. Revenue Sources and Operations - In 2015, the company achieved operating revenue of RMB 54,237.61 million, with a net profit attributable to shareholders of RMB -2,459.65 million[31]. - The main revenue source was from the subsidiary Changjiu Agricultural Science and Technology Co., which generated operating income of RMB 53,266.92 million, a year-on-year decrease of 25.17%[30]. - The production of synthetic ammonia, urea, methanol, and other products has been halted for years, with the company currently focusing on the production and sales of acrylamide[25]. - The comprehensive production of acrylamide reached 55,548 tons, while the comprehensive sales volume was 55,975 tons, reflecting a decrease of 5.56% and 4.90% respectively compared to the previous year[37]. Management and Governance - The company has detailed risk disclosures in the management discussion and analysis section of the report[4]. - The company has established various governance structures and internal control systems to enhance operational compliance and protect shareholder interests[111]. - The company has implemented a performance evaluation and incentive mechanism for senior management, ensuring effective distribution and restraint[124]. - The company’s independent director, Mr. Cao Yushan, resigned due to work reasons, highlighting potential shifts in governance[104]. Challenges and Strategic Plans - The company faced significant depreciation and asset impairment losses exceeding RMB 20 million due to idle assets, impacting its ongoing operations[30]. - The overall economic slowdown and fluctuating raw material prices have adversely affected the acrylamide industry, leading to low product prices and insufficient operating rates[25]. - The company plans to reduce production costs to the lowest level in the industry through technological upgrades and energy-saving measures[56]. - The company intends to optimize its asset structure and improve cash flow by accelerating the disposal of idle assets through public listings and other methods[179]. Shareholder Information - The total number of ordinary shareholders increased from 22,435 to 24,365 during the reporting period[84]. - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holds 43,980,000 shares, representing 18.2% of the total shares[86]. - The company does not have any reported related party transactions among the top shareholders[87]. Environmental and Compliance Efforts - The company implemented an environmental project to reduce chemical oxygen demand and ammonia nitrogen, receiving RMB 3 million in special funds from the provincial government[33]. - The company’s subsidiary, Jiangxi Changjiu Agricultural Science and Technology Co., Ltd., faced administrative penalties due to wastewater exceeding standards, prompting upgrades to wastewater treatment facilities[80]. Financial Reporting and Audit - The audit report from Dahua Accounting Firm objectively reflects the company's financial status, confirming compliance with accounting standards[62]. - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting its financial status and operational results accurately[181].