NBFB(SH:600768)2018-04-02 16:00Financial Performance - In 2017, the company's operating revenue was CNY 804.67 million, an increase of 6.32% compared to CNY 756.81 million in 2016[22]. - The net profit attributable to shareholders was CNY 70.65 million, a significant increase of 285.80% from CNY 18.31 million in the previous year[22]. - The net loss after deducting non-recurring gains and losses was CNY 39.17 million, worsening from a loss of CNY 26.49 million in 2016[22]. - Basic earnings per share rose to CNY 0.53, up 278.57% from CNY 0.14 in 2016[24]. - The weighted average return on net assets was 70.86%, an increase of 37.70 percentage points from 33.16% in 2016[24]. - The company achieved total assets of RMB 575.92 million, a decrease of 20.17% compared to the previous year[42]. - Net profit attributable to shareholders reached RMB 70.65 million, an increase of 285.80% year-on-year[45]. - Operating revenue for the period was RMB 804.67 million, reflecting a growth of 6.32% compared to the previous year[45]. - The company's net asset value per share increased to RMB 1.01, up 110.42% from the previous year[42]. - The company reported a significant increase in asset disposal gains of 144.43% to CNY 109.09 million, mainly from demolition compensation[49]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 5.71 million, a decrease of 80.04% compared to CNY 28.63 million in 2016[22]. - The net cash flow from financing activities decreased by 274.84% to CNY -156.62 million, mainly due to a reduction in bank borrowings[49]. - The company faced significant uncertainty regarding its ability to continue as a going concern due to current liabilities exceeding current assets by CNY 65.50 million[6]. - The net cash flow from operating activities decreased by CNY 22,916,979.53, representing an 80.04% decline compared to 2016[61]. - The company's cash and cash equivalents at the end of the period were CNY 94,380,265.66, restricted for bank acceptance bill guarantees[67]. Operational Challenges and Strategies - The company aims to upgrade from a single product structure to alloy aluminum plates and high-end aluminum materials to enhance market competitiveness[36]. - The aluminum processing industry in China is experiencing rapid growth, but the company faces challenges in upgrading technology and product offerings to meet market demands[36]. - The company acknowledges the challenges of expanding traditional markets amid increasing competition and industry overcapacity[78]. - The company plans to take measures to improve its financial situation, although specific strategies were not detailed in the report[6]. - The company aims to improve product quality and increase product variety, with new products like FB01 and 3105 expected to scale production[76]. Corporate Governance and Shareholder Relations - The company has implemented measures to improve internal processes and enhance management efficiency[86]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and senior management, ensuring transparency in the hiring process[150]. - The company has made significant improvements in corporate governance, aligning with the requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange[150]. - The company has implemented a three-year shareholder return plan to enhance its dividend policy and actively reward investors[151]. - The company has retained Tianjian Accounting Firm for the 2017 audit, with a fee of 300,000 RMB, continuing a 17-year relationship[91]. Legal and Compliance Issues - The company is currently involved in a legal case with Xun Communications Equipment Co., Ltd., with over 70 million RMB in execution funds still frozen[87]. - The company has acknowledged the existence of significant uncertainties regarding its ability to continue as a going concern[85]. - The company has faced challenges with historical investments that have not yielded returns, leading to legal actions to protect shareholder interests[95]. - The company reported a net loss of 39.17 million RMB after deducting non-recurring gains and losses for the year 2017[85]. - The company has maintained compliance with environmental regulations, achieving clean production and passing environmental assessments during the reporting period[118]. Employee and Operational Structure - The company has a total of 488 employees, with 400 in the parent company and 88 in major subsidiaries[142]. - The professional composition includes 305 production personnel, 26 sales personnel, 100 technical personnel, 21 financial personnel, and 36 administrative personnel[142]. - The remuneration policy is based on annual operating performance and overall performance indicators, considering industry income levels[143]. - The company has no retired employees that require financial support[142]. - The company actively fulfilled its social responsibilities, focusing on product quality and environmental sustainability[116].