KINGFA(SH:600143)2016-04-25 16:00Financial Performance - The company's operating revenue for 2015 was approximately RMB 15.68 billion, a decrease of 2.56% compared to RMB 16.09 billion in 2014[18]. - The net profit attributable to shareholders of the listed company was approximately RMB 711.72 million, an increase of 42.81% from RMB 498.36 million in 2014[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 539.53 million, up 31.67% from RMB 409.75 million in 2014[18]. - The net cash flow from operating activities was approximately RMB 1.52 billion, representing a 51.36% increase from RMB 1.00 billion in 2014[18]. - Basic earnings per share increased by 47.37% to CNY 0.28 in 2015 compared to CNY 0.19 in 2014[19]. - The weighted average return on equity rose by 2.43 percentage points to 8.77% in 2015 from 6.34% in 2014[19]. - The total revenue for Q4 2015 was CNY 4,192,641,313.47, with a net profit attributable to shareholders of CNY 167,465,751.79[23]. - The company achieved a total revenue of RMB 15.68 billion, with a net profit attributable to shareholders of RMB 712 million, reflecting a year-on-year growth of 42.81%[66]. Assets and Liabilities - The total assets at the end of 2015 were approximately RMB 14.71 billion, an increase of 7.10% from RMB 13.74 billion at the end of 2014[18]. - The net assets attributable to shareholders of the listed company at the end of 2015 were approximately RMB 8.33 billion, a 4.30% increase from RMB 7.99 billion at the end of 2014[18]. - The company's asset-liability ratio stood at 42.79%, with total assets of RMB 147.14 billion and total liabilities of RMB 63.08 billion[66]. - The company's total liabilities as of December 31, 2015, were RMB 6.31 billion, up from RMB 5.57 billion, indicating an increase of around 13.4%[185]. - The company's non-current assets totaled RMB 6.36 billion, compared to RMB 4.74 billion at the beginning of the year, marking a significant increase of approximately 34.2%[185]. Dividends and Shareholder Returns - The company proposed a cash dividend of RMB 1 per 10 shares, totaling RMB 256 million, based on a total share capital of 2.56 billion shares as of December 31, 2015[3]. - In 2015, the company distributed a cash dividend of 1 RMB per 10 shares, totaling 256,000,000 RMB, which represents 35.97% of the net profit attributable to shareholders[112]. - The cash used for share repurchase in 2013 was 315,565,573.38 RMB, combined with the cash dividend of 256,000,000 RMB for that year, resulting in a total distribution of 571,565,573.38 RMB, which is 75.71% of the net profit[111]. Market and Industry Insights - The company’s main business includes the R&D, production, and sales of six categories of chemical new materials, with a strong market presence in modified plastics[28]. - The market for modified plastics in China is expected to continue growing, driven by increasing demand and technological advancements[30]. - China's engineering plastics market is expected to see significant growth in automotive applications, with current consumption at only 10% compared to the global average of 42%[33]. - The global demand for biodegradable plastics is projected to reach approximately 3.22 million tons by 2020, with an annual growth rate exceeding 16%[35]. - The total demand for specialty engineering plastics globally was about 500,000 tons in 2015, with China's demand exceeding 100,000 tons[37]. Research and Development - The company has applied for a total of 1,824 Chinese invention patents and 39 PCT patents[48]. - The company’s R&D expenditure increased by 17.77% year-on-year, amounting to RMB 742 million[68]. - The company plans to enhance its R&D capabilities through a global collaborative "13551" R&D system, which includes 1 central research institute and 3 regional R&D centers[96]. - A strategic emphasis on R&D investment is planned, with a budget allocation of 10% of total revenue for the upcoming year[149]. Corporate Governance and Compliance - The company has a strict governance structure, ensuring independence between the company and its controlling shareholders, with no non-operational fund occupation reported during the reporting period[167]. - The board of directors consists of 11 members, including 4 independent directors, who actively participate in meetings and fulfill their duties responsibly[171]. - The internal control audit report issued by the auditing firm provided a standard unqualified opinion, indicating no significant deficiencies in internal controls[176]. - The company has not reported any non-standard audit opinions from its accounting firm for the reporting period[117]. Employee and Management Information - The total number of employees in the parent company is 3,265, and in major subsidiaries is 2,662, resulting in a total of 5,927 employees[159]. - The professional composition includes 2,801 production personnel, 736 sales personnel, 768 technical personnel, 186 financial personnel, and 1,436 administrative personnel[159]. - The company has implemented a performance-based salary system, linking compensation to overall and individual performance, with a focus on fairness and competitiveness[160]. - The total remuneration for all directors, supervisors, and senior management was RMB 798.30 million (pre-tax) for the reporting period[156].