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山西焦化(600740) - 2015 Q4 - 年度财报
SCCSCC(SH:600740)2016-03-28 16:00

Financial Performance - In 2015, the company reported a net profit of -830,629,892.06 RMB, with a net profit attributable to shareholders of -830,206,780.21 RMB, indicating a significant loss compared to the previous year's profit of 19,767,350.66 RMB[3]. - The company's operating revenue for 2015 was 3,365,841,040.08 RMB, a decrease of 32.21% from 4,965,151,232.67 RMB in 2014[18]. - The basic earnings per share for 2015 was -1.0842 RMB, a decline of 4,302.33% compared to 0.0258 RMB in 2014[19]. - The net profit attributable to the parent company was CNY -83,020,680, a decline of 4,299.89% year-on-year[38]. - The total comprehensive loss for the year was CNY 830,629,892.06, compared to a comprehensive income of CNY 21,439,635.51 in the previous year[159]. - The company reported a net income of $600 million, which is a 20% increase compared to the same quarter last year[112]. - The company achieved a net profit of 166.8 million, reflecting a growth of 355.26% year-on-year[113]. Cash Flow and Liquidity - The net cash flow from operating activities was -719,122,947.40 RMB, a decline of 324.77% from 319,937,473.49 RMB in 2014[18]. - The net cash flow from operating activities for the reporting period was -71,912.29 million yuan, a decrease of 103,906.04 million yuan compared to the previous year's 31,993.75 million yuan[50]. - The net cash flow from investing activities was -44,777.93 million yuan, an increase of 20,118.32 million yuan from the previous year's -24,659.61 million yuan[50]. - The net cash flow from financing activities was 109,206.54 million yuan, an increase of 50,846.49 million yuan compared to the previous year's 58,360.05 million yuan[50]. - The ending cash and cash equivalents balance was RMB 1,255,718,500.70, down from RMB 1,364,360,203.18 at the beginning of the year[166]. - The company has secured unused bank credit lines amounting to approximately RMB 1.715 billion as of December 31, 2015, to improve its liquidity situation[188]. Assets and Liabilities - The total assets at the end of 2015 were 10,601,336,566.90 RMB, a slight decrease of 1.15% from 10,724,147,472.82 RMB in 2014[18]. - The company's net assets attributable to shareholders decreased by 29.37% to 1,996,368,209.22 RMB at the end of 2015 from 2,826,378,945.68 RMB in 2014[18]. - Total liabilities decreased from CNY 8,026,137,352.19 to CNY 7,318,514,409.80, a reduction of approximately 8.8%[149]. - Total equity decreased from CNY 3,405,633,063.02 to CNY 2,575,199,214.71, a decline of about 24.4%[149]. - The total equity attributable to the parent company at the end of the reporting period was CNY 3,405,633,063.02, with a decrease of CNY 830,206,780.21 during the period[169]. Operational Performance - The company sold 3.25 million tons of coke, down from 3.41 million tons in the previous year, resulting in a revenue decrease of CNY 13,091,820[44]. - The average selling price of coke was CNY 610.73 per ton, a decrease of CNY 213.66 per ton compared to the previous year[44]. - The company produced 2.9997 million tons of coke, achieving 99.99% of the annual plan, and 0.2296 million tons of methanol, completing 76.53% of the annual target[60]. - The production of carbon black reached 0.065 million tons, exceeding the annual plan by 8.33%, while coal tar processing was 0.3232 million tons, achieving 107.73% of the target[60]. - The company anticipates a further decline in coke production in 2016, predicting a reduction of 30-40 million tons, with total output expected to be between 410-420 million tons, reflecting a year-on-year decrease of 6.7%-8.9%[27]. Market and Industry Conditions - The company operates in a challenging market environment, with significant pressure from the steel industry leading to lower coke prices and increased industry losses[27]. - The company faced significant operational challenges due to industry-wide overcapacity and declining demand, leading to persistent losses[38]. - The company anticipates continued pressure on the coking industry in 2016, with excess capacity and declining prices expected to persist, leading to increased losses and potential closures of some enterprises[58]. - The company benefits from favorable national policies supporting the coal chemical industry, particularly in Shanxi Province, which is designated as a key development area[30]. Strategic Initiatives - The company plans to address the risks and challenges outlined in the report, although specific future strategies were not detailed[4]. - The company aims to strengthen its core coking business while expanding into new industries and optimizing its coal-coke-chemical and coal-gas-chemical industrial chains[59]. - The company is actively adjusting its coal procurement strategy to manage raw material supply and price risks, focusing on cost control[63]. - The company has established a strategic platform for the production and operation of coke and related chemical products within the Shanxi Coal Group[70]. Governance and Compliance - The company has established a modern enterprise system, focusing on clear property rights and responsibilities, which enhances operational efficiency[31]. - The company has maintained a good integrity status, with no significant debts overdue or unfulfilled court judgments[77]. - The independent directors did not raise any objections to the board's proposals during the reporting period[134]. - The company confirmed no issues regarding independence from its controlling shareholder in terms of business, personnel, assets, and finance[136]. Research and Development - Research and development expenses totaled CNY 2,338,696.10, accounting for 0.07% of operating revenue[49]. - The company is investing $200 million in R&D for new technologies aimed at enhancing product efficiency[112]. - Shanxi Coking is investing in new product development, focusing on advanced coking technology to enhance production efficiency[113]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 57,516[93]. - The largest shareholder, Shanxi Coking Coal Group, holds 108,867,242 shares, representing 14.22% of total shares[95]. - The company has not distributed dividends in the last three years, with the net profit attributable to shareholders being CNY 19,767,350.66 in 2014 and CNY 17,348,901.83 in 2013[69].