NFC(SZ:000758)2015-05-18 03:45Dividend Distribution - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2014[6]. - The company reported a cash dividend of 0.1 yuan per 10 shares for the 2013 fiscal year, totaling 49,234,460.60 yuan, which is 18.54% of the net profit attributable to shareholders[97][101]. - For the 2014 fiscal year, the company plans to distribute a cash dividend of 0.5 yuan per 10 shares, based on a total share capital of 984,689,212 shares[99][101]. - The company reported a net profit of 265,623,525.56 yuan for the year 2014, with a cash dividend payout ratio of 100%[101]. - The company’s cash dividend policy requires a minimum of 20% of profits to be distributed as cash dividends when significant capital expenditures are planned[102]. - The company’s total cash dividends over the past three years were 49,234,460.60 yuan in 2014, 9,846,892.12 yuan in 2013, and 98,468,921.20 yuan in 2012, reflecting a trend in dividend distribution[101]. Financial Performance - The company achieved operating revenue of CNY 18,223,800,494.72 in 2014, representing a 2% increase compared to 2013[22]. - Net profit attributable to shareholders reached CNY 265,623,525.56, a significant increase of 224.49% year-on-year[22]. - The net cash flow from operating activities was CNY 565,720,947.59, up 251.89% from the previous year[22]. - The basic earnings per share rose to CNY 0.270, reflecting a 213.95% increase compared to 2013[22]. - The total assets at the end of 2014 were CNY 19,284,250,197.92, marking a 12.29% increase from the previous year[22]. - The company’s operating revenue for 2014 was CNY 18,039,027,090.01, representing a year-on-year increase of 1.73%[48]. - The net cash flow from operating activities increased significantly by 251.89% to CNY 565,720,947.59, primarily due to growth in the contracting business and increased prepayments and settlement receipts[45]. Business Operations - The company has expanded its main business scope to include the development of non-ferrous metal resources, particularly aluminum and zinc[19]. - The company is actively advancing overseas resource development and has made significant progress in geological exploration in various regions[30]. - The company has initiated the construction of the Southern Rare Earth project, aiming to enhance its resource capabilities[30]. - The company is focusing on integrating investment business with engineering contracting to enhance overall operational efficiency[31]. - The company achieved a sales volume of 228,960 tons for zinc ingots and zinc alloys, representing a year-on-year increase of 7.58%[35]. - The production volume of zinc ingots and zinc alloys was 217,334 tons, up 3.25% year-on-year, while inventory decreased by 74.71% to 4,747 tons[35]. - The company’s international engineering contracting business revenue was CNY 325,670.86 million, up 162.75% year-on-year[30]. - The gross profit from the international engineering contracting business increased by 316.65% to CNY 55,672.24 million[30]. Research and Development - Research and development expenses rose by 31.79% to CNY 6,941,800, accounting for 0.04% of the company's operating revenue[43]. - The company applied for 66 patents during the year, including 14 invention patents, and participated in the revision of 6 industry standards[43]. - The company is investing 100 million RMB in research and development for new technologies aimed at improving project efficiency[171]. Governance and Compliance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring the accuracy and completeness of the financial statements[5]. - The company has established various internal regulations to ensure compliance with corporate governance standards and to protect investor interests[185]. - The governance structure complies with the requirements of the Company Law and the China Securities Regulatory Commission, with no discrepancies noted[187]. - The company is focused on enhancing its governance structure through the implementation of independent director systems and audit committee oversight[195]. Environmental and Social Responsibility - The company is committed to improving its capital structure and debt structure by utilizing its public financing platform to expand low-cost financing channels[84]. - The company is committed to enhancing safety and environmental protection measures, ensuring compliance with the new Safety Production Law and Environmental Protection Law[87]. - The company has not faced any significant environmental issues during the reporting period, with all pollutants meeting discharge standards[103]. - In 2014, the company reported SO2 emissions of 1584.6 tons and COD emissions of 42.41 tons from its subsidiary, Zhongse Zinc Industry[103]. Related Party Transactions - The total amount of related party transactions for the year reached ¥56,910.83 million, with significant contributions from various subsidiaries and related entities[118]. - The company’s transactions with related parties are deemed necessary for its main business operations, ensuring a stable supply of raw materials[118]. - The company utilized market pricing principles for all related party transactions, ensuring compliance with industry standards[118]. Future Plans and Strategies - The company aims to actively develop two main businesses: domestic and international non-ferrous metal resource development and international engineering contracting[83]. - The company plans to accelerate the construction of four major resource bases in Mongolia, Chifeng, Southern Rare Earth, and Laos, while innovating resource project development models[84]. - The company intends to enhance its engineering contracting business by exploring government framework projects and investment-type projects, leveraging the "Belt and Road" initiative[84]. - The company plans to explore comprehensive recovery of other metal elements through technological advancements to enhance operational efficiency[86]. Shareholder Information - The largest shareholder, China Nonferrous Metal Mining Group Co., Ltd., holds 33.75% of the shares, totaling 332,306,616 shares[153]. - The company has no preferred shares outstanding, indicating a straightforward equity structure[159]. - The top ten shareholders do not have any related party relationships, ensuring transparency in ownership[156]. Audit and Financial Reporting - The annual audit was conducted by Zhongtian Yun Accounting Firm, starting from October 18, 2014, with the preliminary audit opinion issued on March 31, 2015, indicating a standard unqualified audit report[197]. - The audit committee confirmed that the financial statements were prepared in accordance with new accounting standards and regulatory requirements, reflecting the company's financial status as of December 31, 2014, and its operating results for the year[198].