VVFB(SH:600300)2017-03-21 16:00Financial Performance - The company's operating revenue for 2016 was approximately RMB 4.46 billion, representing a year-on-year increase of 14.81% compared to RMB 3.89 billion in 2015[16]. - The net profit attributable to shareholders for 2016 was RMB 70.13 million, a decrease of 30.91% from RMB 101.50 million in 2015[16]. - The basic earnings per share for 2016 was RMB 0.04, down 33.33% from RMB 0.06 in 2015[17]. - The total profit for the year was CNY 139,099,884.18, a decrease of 13.75% compared to the previous year[31]. - The total operating revenue for 2016 reached ¥4,463,595,257.93, an increase of 14.8% compared to ¥3,887,769,559.40 in the previous year[145]. - Net profit for 2016 was ¥64,780,712.29, a decrease of 6.4% from ¥69,168,648.42 in the prior year[145]. - The net profit attributable to shareholders of the parent company was ¥70,125,326.40, down 30.9% from ¥101,504,767.62[145]. Cash Flow and Investments - The net cash flow from operating activities for 2016 was RMB 101.52 million, a significant recovery from a negative cash flow of RMB 27.69 million in 2015[16]. - Cash inflow from investment activities totaled CNY 567,293,525.48, compared to CNY 219,159,343.10 in the previous period, marking a 159.4% increase[152]. - Net cash flow from investment activities was negative CNY 220,949,496.46, slightly worse than negative CNY 212,577,365.74 in the previous period[152]. - Cash received from sales of goods and services was CNY 4,582,355,452.73, up from CNY 4,386,443,970.89 in the previous period, representing a 4.47% increase[151]. Assets and Liabilities - The total assets at the end of 2016 were RMB 8.40 billion, an increase of 4.57% from RMB 8.03 billion at the end of 2015[16]. - Total liabilities rose to ¥5,165,899,551.18 from ¥4,667,227,637.74, indicating an increase of 10.7%[138]. - The company's equity attributable to shareholders decreased to ¥2,660,753,318.62 from ¥2,689,716,463.07, a decline of 1.1%[139]. - The total equity at the end of the year, including minority interests, was CNY 3,232,341,807.63[156]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.20 per 10 shares, totaling RMB 33.44 million[3]. - In 2016, the company distributed a cash dividend of 0.20 RMB per share, totaling 33,440,000 RMB, which represents 47.69% of the net profit attributable to shareholders[79]. - The company reported a profit distribution of CNY 46,540,000, which included allocations to surplus reserves[156]. Operational Efficiency - The company experienced an increase in selling expenses by RMB 20.67 million and financial expenses by RMB 26.51 million, contributing to the decline in net profit[17]. - The company's operating costs increased by 22.19% to CNY 3,186,613,293.40[33]. - The company maintained a gross margin of 34.74% in the industrial sector, an increase of 0.81 percentage points year-on-year[35]. Market and Product Development - The company continues to focus on its core business strategy of "large agriculture, large grain, and large food" to ensure sustainable development[30]. - The company plans to focus on market expansion and new product development as part of its future strategy[145]. - The plant protein beverage market in China exceeded RMB 100 billion in sales in 2015, with an expected growth rate of 20-30% annually, projected to reach RMB 160 billion by 2019[73]. Shareholder and Governance - The largest shareholder, Wewei Group Co., Ltd., holds 517,531,283 shares, representing 30.95% of the total shares[100]. - The total number of ordinary shareholders increased from 68,116 to 69,947 during the reporting period[97]. - The company has not proposed a cash profit distribution plan despite having positive distributable profits for the reporting period[80]. Internal Control and Compliance - The company has established various management systems including ISO9001 and ISO22000 to ensure product quality and food safety[93]. - The company has engaged Lixin Accounting Firm for auditing services, with a remuneration of 200,000 RMB for the audit period[87]. - The audit report confirmed that the financial statements fairly represent the company's financial position as of December 31, 2016, in accordance with accounting standards[134]. Employee and Management Structure - The company employed a total of 2,297 staff, including 948 production personnel, 814 sales personnel, and 203 technical personnel[116]. - The total pre-tax compensation for executives during the reporting period amounted to 566.08 million CNY[108]. - The company has maintained a consistent board structure with no new appointments or departures during the reporting period[106].