SINOCHEM INTERNATIONAL(SH:600500)2014-04-11 16:00Financial Performance - In 2013, Sinochem International achieved a net profit of RMB 78,907,461.70, with a total distributable profit of RMB 531,490,838.84 after accounting for dividends and reserves[5]. - The proposed cash dividend is RMB 1.2 per 10 shares, totaling RMB 249,961,520.52, which represents 47.03% of the distributable profit[5]. - The remaining undistributed profit carried forward to the next year is RMB 281,529,318.32[5]. - The company's operating revenue for 2013 was approximately ¥46.81 billion, a decrease of 14.03% compared to ¥54.45 billion in 2012[22]. - Net profit attributable to shareholders for 2013 was ¥608.53 million, representing a year-on-year increase of 4.20% from ¥583.99 million in 2012[22]. - The net profit after deducting non-recurring gains and losses was ¥496.77 million, a significant increase of 132.29% compared to ¥213.86 million in 2012[22]. - The cash flow from operating activities for 2013 was ¥848.28 million, up 28.91% from ¥658.04 million in 2012[22]. - The company's total assets decreased by 5.93% to ¥28.94 billion in 2013 from ¥30.76 billion in 2012[22]. - The weighted average return on net assets was 8.20% in 2013, a decrease of 0.18 percentage points from 8.38% in 2012[24]. - The asset-liability ratio improved to 51.11%, a reduction of 14.12 percentage points compared to 65.23% in 2012[24]. Shareholder Information - Sinochem International's controlling shareholder, Sinochem Group, holds 55.35% of the company's shares after a non-public offering[20]. - The company’s total share capital at the end of 2013 was 2,083,012,671 shares[5]. - The company issued 645,423,100 shares at a price of 5.79 CNY per share, raising a total of 3,736,999,749.00 CNY in November 2013[147]. - The total number of shares after the issuance is 2,083,012,671, with 1,437,589,571 shares being freely tradable, accounting for 69.01% of the total[146]. - The largest shareholder, China National Chemical Corporation, holds 55.35% of the shares, totaling 1,152,988,931 shares[155]. - The company has a total of 90,913 shareholders as of the end of the reporting period[155]. Business Operations and Strategy - The company has maintained its main business operations without changes since its listing[19]. - The company successfully integrated the acquisition of Jiangsu Shengao, enhancing its market share in the anti-aging agent production sector[29]. - The company achieved significant growth in its agricultural chemical business, obtaining exclusive distribution rights for the "Nongda" brand in Australia and New Zealand[29]. - The company is actively pursuing international acquisitions and technology integration, particularly in isocyanates and adhesives, to enhance its competitive edge in the fine chemicals sector[43]. - The company has established a comprehensive customer credit assessment system and insures most export credit business against export credit risks[114]. - The company has set up a dedicated safety and environmental protection department to manage risks associated with its chemical products[114]. Investment and Capital Expenditure - The company completed its first equity refinancing since going public, significantly enhancing its capital strength[30]. - The company raised a total of RMB 3,736,999,749.00 from a private placement, with a net amount of RMB 3,705,358,820.60 after expenses, allocating RMB 2.616 billion for acquiring a 60.976% stake in Jiangsu Saint-Ao and RMB 1.121 billion for working capital[44]. - The company plans to invest approximately ¥123.83 million in capital expenditures for long-term asset acquisition, funded through debt financing and internal resources[112]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports[6]. - The company has implemented a unified foreign exchange risk management system to mitigate uncertainties from currency fluctuations[115]. - The company is facing risks related to industry cyclicality, overseas investments, and inventory price declines, which could impact profitability[113]. - The company has not reported any overdue guarantees, indicating effective risk management practices[133]. Research and Development - Research and development expenses totaled ¥36.89 million, representing 0.08% of operating revenue and a decrease of 10.78% from the previous year[39]. - The company intends to establish a three-tier R&D system to enhance its independent research capabilities and long-term competitiveness in the fine chemical industry[108]. Corporate Governance - The company has a complete management team for safety and environmental protection, adhering to strict safety production management systems[114]. - The company has developed a comprehensive internal control system, covering 25 management areas including financial management and risk management[196]. - The internal control audit conducted by Ernst & Young Huaming issued a standard unqualified opinion on the effectiveness of the internal control related to financial reporting[198]. - The board of directors consists of 9 members, including 4 independent directors, ensuring a majority of independent directors in key committees[186]. Market Trends and Outlook - The global fine chemicals market is projected to grow at an annual rate of 5-6%, with the fine chemicals segment reaching approximately USD 380 billion[90]. - The agricultural chemical market in China is driven by population growth and limited arable land, leading to stable demand for pesticides[92]. - The trend towards high-efficiency, low-toxicity pesticides is expected to increase, with a growing market for environmentally friendly products[93]. - The chemical logistics industry is expected to grow at a rate of approximately 10%, outpacing GDP growth, due to the increasing demand for chemical trade[103]. Employee Information - The company employed a total of 12,537 staff, with 9,953 in production, 494 in sales, 320 in technical roles, 239 in finance, and 1,531 in administration[179]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 10.6 million yuan[177]. - The company has established a market-oriented compensation and benefits system to ensure fair and legal distribution of remuneration[179].