JSAC(SH:600389)2014-03-17 16:00Financial Performance - The company reported a basic earnings per share of 1.5293 CNY, an increase of 808.67% compared to 0.1683 CNY in 2012[27]. - The diluted earnings per share also stood at 1.5293 CNY, reflecting the same significant increase of 808.67% from the previous year[27]. - The weighted average return on equity reached 28.33%, up from 3.62% in 2012, marking a substantial increase of 24.71 percentage points[27]. - In 2013, the company achieved operating revenue of RMB 3.16 billion, a year-on-year increase of 5.14%[34]. - The net profit attributable to shareholders reached RMB 302.79 million, reflecting a significant increase of 808.75% compared to the previous year[34]. - The net cash flow from operating activities was RMB 641.23 million, up 41.31% year-on-year[34]. - The company's total assets at the end of 2013 were RMB 3.27 billion, a slight increase of 0.89% from the previous year[34]. - The net assets attributable to shareholders increased by 28.95% to RMB 1.21 billion by the end of 2013[34]. - The total sales gross profit amounted to 741 million yuan, with an average gross profit margin of 23.42%, up by 10.84 percentage points year-on-year[55]. - The company achieved a net profit attributable to shareholders of 302.79 million yuan, representing a year-on-year increase of 808.75%[55]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 4.7 CNY per 10 shares, totaling 93,060,000 CNY, based on the total share capital of 198,000,000 shares as of the end of 2013[5]. - The company plans to distribute a cash dividend of 4.7 RMB per 10 shares, totaling 93,060,000 RMB, which represents 30.73% of the net profit attributable to shareholders for 2013[89]. - The company has implemented a cash dividend policy, distributing 31,680,000 RMB in 2012, which was higher than the stipulated distribution ratio in the articles of association[88]. - The largest shareholder, Sinochem International Corporation, holds 29.19% of shares, totaling 57,789,418 shares[119]. - The second-largest shareholder, Nantong Industrial Holding Group Co., Ltd., holds 26.54% of shares, totaling 52,544,718 shares, with a decrease of 3,781,559 shares during the reporting period[119]. - The total number of shareholders at the end of the reporting period was 14,517, while it was 14,996 five trading days before the report disclosure[117]. Business Operations and Market Position - The company’s main business remains the production and sales of agrochemical products, with no changes since its listing[20]. - The pesticide business generated revenue of RMB 2.16 billion, a growth of 22.8% year-on-year, primarily driven by increased sales of glyphosate[38]. - The chemical business revenue decreased by 21.02% to RMB 515 million, largely due to the exclusion of revenue from a consolidated subsidiary in the previous year[38]. - The company ranked 10th in pesticide sales revenue among the top 100 pesticide companies in China for 2013[65]. - The company has established a complete industrial chain and upgraded its production facilities, enhancing its manufacturing capabilities and competitiveness[66]. - The company has a strong research and development capability, with several advanced production processes and technologies recognized at the national level[66]. Risk Management and Compliance - The company has detailed risks related to industry policy changes, market fluctuations, and raw material price volatility in its reports[10]. - The company faces safety risks due to the handling of flammable, explosive, and toxic materials during production, and is enhancing safety management practices[86]. - Environmental risks are present due to the generation of waste during pesticide production, and the company is increasing investments in environmental protection measures[86]. - The company is exposed to market volatility risks, particularly in glyphosate pricing, which has fluctuated significantly in recent years[87]. - The company has not faced any major litigation or arbitration issues during the reporting period[97]. - The company has committed to enhancing its environmental management capabilities to mitigate risks associated with industry policy changes[86]. Management and Governance - The company has seen a significant turnover in its board members, with several key positions held by individuals with extensive experience in the chemical industry[133][134][135]. - The company appointed a new board of directors and supervisory board members on January 27, 2014, including Li Dajun as chairman and Xue Jian as general manager[139]. - The company has been focusing on enhancing its governance structure with the election of new board members and supervisors to improve operational efficiency[139]. - The total remuneration payable to directors, supervisors, and senior management during the reporting period amounted to 6.409141 million yuan[144]. - The actual remuneration received by directors, supervisors, and senior management during the reporting period totaled 5.7373 million yuan, which includes the basic annual salary and performance bonuses based on 2012 performance assessments[144]. Research and Development - Research and development expenses decreased by 33.71% to RMB 100.51 million, focusing on technology improvements and environmental upgrades[37]. - The company plans to enhance its production and technical innovation capabilities, focusing on product optimization and waste management technology[52]. - The company has a total of 21 employees with a master's degree or above, and 1,018 employees with education below the college level[147]. Financial Position and Cash Flow - Cash and cash equivalents increased by 68.34% to approximately ¥274.34 million, primarily due to increased profits and higher deposit balances[61]. - Short-term borrowings decreased by 41.08% to approximately ¥982.30 million, attributed to the issuance of short-term financing bonds and significant cash inflows from operating activities[62]. - The company reported a significant increase in retained earnings, which rose to RMB 668,932,518.51 from RMB 427,681,051.06, an increase of approximately 56.4%[183]. - The company incurred a net cash outflow from financing activities of CNY 519,763,539.43, compared to a net outflow of CNY 455,631,572.47 in the previous year[196].