NCFC(SH:600889)2016-03-21 16:00Financial Performance - In 2015, the company achieved a net profit of RMB 237,466,713.05, with a proposed cash dividend of RMB 0.35 per 10 shares[2]. - The company's operating revenue for 2015 was RMB 1,518,473,415.22, representing a decrease of 14.30% compared to RMB 1,771,780,508.26 in 2014[18]. - The net profit attributable to shareholders of the listed company increased significantly to RMB 457,506,436.22 from RMB 5,465,008.49 in the previous year, marking an increase of 8,271.56%[18]. - Basic earnings per share rose to RMB 1.49 in 2015, compared to RMB 0.02 in 2014, reflecting a substantial increase of 7,350.00%[19]. - The company's total assets decreased by 25.81% to RMB 2,171,040,204.26 in 2015 from RMB 2,926,163,843.41 in 2014[18]. - The weighted average return on equity increased to 39.45% in 2015, up from 0.58% in 2014, an increase of 38.87 percentage points[19]. - The net cash flow from operating activities was RMB 67,277,304.82, down 57.63% from RMB 158,802,443.25 in 2014[18]. - The company's net assets attributable to shareholders increased by 49.42% to RMB 1,396,785,123.60 at the end of 2015, compared to RMB 934,789,368.94 at the end of 2014[18]. - The total operating revenue for 2015 was RMB 1,518,473,415.22, with a quarterly breakdown of RMB 325,363,108.81 in Q1, RMB 348,808,510.99 in Q2, RMB 472,977,257.11 in Q3, and RMB 371,324,538.31 in Q4[24]. Investment and Divestment - The company reported a non-recurring investment gain of RMB 498,317,032.81 from the sale of a 70% stake in Nanjing Jinling Real Estate Development Co., Ltd.[22]. - The company completed the transfer of its 70% stake in Nanjing Jinling Real Estate, receiving a total payment of RMB 772,231,100.00[30]. - The investment income from the sale of 70% equity in Nanjing Jinling Real Estate Development Co., Ltd. amounted to ¥498,317,032.81, classified as non-recurring gains[73]. Operational Highlights - The company has a production capacity of 80,000 tons/year for short viscose fibers and 20,000 tons/year for long viscose fibers, with a joint venture producing an additional 160,000 tons/year[28]. - The company’s water supply plant has a capacity of 150,000 tons/day, providing an average of 50,000 tons/day to local enterprises and residents[29]. - The company emphasized its strong cost control capabilities and commitment to sustainable development in the viscose fiber production sector[32]. - The company achieved a total revenue of 1.518 billion RMB, a decrease of 14.30% compared to the previous year, primarily due to the sale of its controlling subsidiary, Nanjing Jinling Real Estate Development Co., Ltd.[39]. - The company sold 15,894 tons of viscose filament yarn, generating sales revenue of 508.4 million RMB, while short fibers sales reached 74,813 tons, contributing 780 million RMB in revenue[41]. Research and Development - The company successfully developed new products including "112D/44F continuous spinning" and "75D/25F viscose filament," which passed the new product identification organized by Jiangsu Provincial Economic and Information Commission[36]. - The company plans to invest in research and development to innovate new products that meet market demands[115]. - Research and development expenses increased by 25%, totaling 300 million RMB, focusing on innovative technologies[109]. Market Strategy - The company focused on expanding its international market presence, particularly in Pakistan and India, while also targeting Europe for further sales growth[36]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2025[109]. - Future outlook indicates a commitment to strategic growth and potential mergers and acquisitions to strengthen market position[115]. Financial Management - The company has established a performance evaluation and incentive mechanism that links executive compensation to corporate performance and individual achievements[128]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 3.883 million yuan[118]. - The company has implemented a salary policy that emphasizes performance-based pay, particularly for key technical and frontline production positions[122]. - The company maintained a stable capital reserve, increasing from CNY 215,609,661.68 to CNY 227,407,023.21, an increase of about 5.5%[150]. Governance and Compliance - The company has appointed a new board of directors, emphasizing governance and oversight in its operations[115]. - The audit committee confirmed that the internal control system is complete and reasonable, with no major defects identified, ensuring the preparation of true and fair financial statements[134]. - The company has not faced any penalties from securities regulatory authorities in the past three years[120]. - The company has not faced any bankruptcy reorganization or major litigation during the reporting period[75]. Shareholder Information - The cash dividend for 2015 amounted to RMB 10.75 million, representing 2.35% of the net profit attributable to shareholders[71]. - Shareholder returns are prioritized, with a commitment to maintain dividends at 0.5 RMB per share, reflecting a yield of 3%[109]. - The total number of ordinary shareholders at the end of the reporting period was 33,614, down from 35,443 at the end of the previous month[93]. Asset and Liability Management - The company's total liabilities increased by 32.12% to ¥902,889,631.00, primarily due to repayments of bank loans[50]. - The total equity attributable to shareholders increased from CNY 934,789,368.94 to CNY 1,396,785,123.60, marking an increase of approximately 49.5%[150]. - The total liabilities amounted to CNY 537,185,516.39, a decrease from CNY 1,093,655,478.90 in the previous year[156]. Internal Controls and Auditing - The company submitted its internal control self-evaluation report for 2015 on March 22, 2016, which is available on the Shanghai Stock Exchange website[139]. - The company’s financial statements for 2015 were audited and found to comply with national accounting standards, accurately reflecting operational results and financial status[135]. - The company plans to hire Jiangsu Gongzheng Tianye Accounting Firm for external audit services for 2016, with fees not exceeding RMB 450,000[135].