JNGX(SH:600527)2015-04-27 16:00Financial Performance - The company's operating income for 2014 was CNY 1,643,826,101.02, representing a 0.62% increase compared to CNY 1,633,745,378.44 in 2013[24]. - The net profit attributable to shareholders for 2014 was CNY 30,168,751.95, a significant decrease of 87.38% from CNY 238,993,544.64 in 2013[24]. - The total profit for the period was CNY 42.12 million, a decrease of 84.14% compared to the previous year[33]. - Net profit attributable to shareholders was CNY 30.17 million, down 87.38% year-on-year[33]. - The company achieved operating revenue of CNY 1.644 billion, a year-on-year increase of 0.62%[33]. - The net cash flow from operating activities decreased by 50.91% to CNY 85,275,353.90 in 2014, down from CNY 173,724,159.12 in 2013[24]. - The company's polyester staple fiber revenue decreased by 9.31%, while composite short fiber revenue increased by 0.10%[33]. - The company reported a significant investment loss of CNY 85,554,267.79, compared to a gain of CNY 36,356,542.93 in the previous year[141]. - The net profit for 2014 was CNY 25,807,091.57, a significant decrease of 89.0% from CNY 234,535,939.02 in the prior year[145]. - The total comprehensive income for the year was CNY 26,532,498.57, down from CNY 235,096,934.77 in 2013, reflecting a decline of 88.7%[145]. Assets and Liabilities - The total assets as of the end of 2014 were CNY 1,852,419,358.50, a decrease of 3.92% from CNY 1,927,995,045.00 at the end of 2013[24]. - The total liabilities decreased to CNY 65,059,018.26 from CNY 99,814,188.69, a reduction of about 34.9%[135]. - The total equity attributable to shareholders of the parent company was CNY 1,760,108,546.53, down from CNY 1,801,570,482.35, indicating a decrease of approximately 2.3%[136]. - The company's total assets decreased to CNY 1,725,807,738.61 from CNY 1,804,377,490.34, a reduction of approximately 4.3%[138]. - The company's total liabilities decreased to CNY 62,016,889.46 from CNY 94,931,094.66, a decline of about 34.8%[138]. Cash Flow - The net cash flow from operating activities decreased by 50.91% to CNY 85,275,353.90 in 2014, down from CNY 173,724,159.12 in 2013[24]. - The company reported a net cash outflow from investing activities of CNY 33,343,261.22, an improvement from a net outflow of CNY 80,505,095.19 in 2013[148]. - The cash and cash equivalents at the end of 2014 were CNY 374,053,021.97, down from CNY 394,423,891.64 at the end of 2013[148]. Shareholder Information - The total number of shareholders as of the end of the reporting period was 50,911, an increase from 47,196 five trading days prior to the report[89]. - The largest shareholder, Tao Guoping, holds 126,484,448 shares, representing 15.77% of the total shares[91]. - The total number of shares held by the top ten shareholders amounts to 348,000,000 shares, accounting for a significant portion of the company's equity[91]. - The total remuneration for the board members during the reporting period was 172.50 million yuan, with Tao Guoping receiving 30.00 million yuan[97]. Dividends - The company plans to distribute a cash dividend of CNY 0.90 per 10 shares, totaling CNY 72,188,045.10 based on the total share capital as of December 31, 2014[2]. - The cash dividend distribution for 2014 was 0.90 RMB per 10 shares, with a total of 72,188,045.10 RMB, representing 239.28% of the net profit attributable to shareholders[77]. Research and Development - Research and development expenses amounted to CNY 44.90 million, an increase of 3.25% from the previous year[35]. - The company aims to enhance its core competitiveness by increasing R&D investment and developing differentiated products[67]. Market Position - The company is the largest producer of composite short fibers in China, with a production capacity of 190,000 tons, capturing approximately 20% of the domestic market share[64]. - The company holds over 60% of the domestic market share in the polyester staple fiber industry, with a current capacity of 36,000 tons and plans to expand by an additional 6,000 tons[65]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[3]. - The company faces risks related to potential changes in industry policies and environmental regulations that could impact its operations[69][70]. - The company has faced risks related to raw material price fluctuations, particularly for polyester chips and polyethylene, which are closely tied to global economic trends and oil price volatility[72]. Internal Control and Compliance - The company has a robust internal control system to ensure compliance, asset security, and the accuracy of financial reporting[124]. - The company reported no significant deficiencies in internal control over financial reporting as of the evaluation report date[125]. - The company engaged Lixin Accounting Firm to audit its internal control system, receiving a standard unqualified audit opinion[128]. Employee Information - The total number of employees in the parent company and major subsidiaries is 676, with 609 in the parent company and 67 in subsidiaries[103]. - The professional composition includes 475 production personnel, 32 sales personnel, 123 technical personnel, 8 financial personnel, and 38 administrative personnel[103]. - The company implements a skill-based salary system combined with individual performance assessments to determine compensation[104]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[167]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[154].