RSPC(SZ:002493)2017-04-17 16:00Financial Performance - The company's operating revenue for 2016 was CNY 45.50 billion, representing a 58.69% increase compared to CNY 28.67 billion in 2015[17]. - The net profit attributable to shareholders for 2016 was CNY 1.92 billion, a significant increase of 445.49% from CNY 352.12 million in 2015[17]. - The net cash flow from operating activities reached CNY 2.82 billion, improving by 363.49% compared to a negative cash flow of CNY 1.07 billion in 2015[17]. - The basic earnings per share for 2016 was CNY 0.76, up 375% from CNY 0.16 in 2015[17]. - The total assets at the end of 2016 amounted to CNY 40.64 billion, an increase of 8.45% from CNY 37.47 billion at the end of 2015[18]. - The net assets attributable to shareholders increased by 17.22% to CNY 12.67 billion at the end of 2016, compared to CNY 10.81 billion at the end of 2015[18]. - The company reported a weighted average return on equity of 16.36% for 2016, up from 5.25% in 2015, indicating improved profitability[18]. - The total profit reached 2.23 billion RMB, reflecting a significant growth of 445.25% year-on-year[54]. - Net profit attributable to shareholders was 1.92 billion RMB, up 445.49% from the previous year, with basic earnings per share of 0.76 RMB, a 375% increase[54]. Shareholder Returns - The company plans to distribute a cash dividend of 1.2 RMB per 10 shares (including tax) and to increase capital by converting 5 shares for every 10 shares held[5]. - The cash dividend represents 100% of the total distributable profit of 309,751,342.73 yuan for the year[131]. - In 2016, the company distributed cash dividends amounting to 305,280,000.00 yuan, which is 15.89% of the net profit attributable to ordinary shareholders[130]. - The company reported a net profit of 1,920,787,653.49 yuan for 2016, with a cash dividend payout ratio of 15.89%[130]. - The company has a three-year shareholder return plan in place to ensure stable returns for investors[126]. Business Operations - The main business includes the R&D, production, and sales of chemicals and chemical fibers, with a diverse product range including PTA and various types of polyester fibers[28][31]. - The company operates under the stock code 002493 on the Shenzhen Stock Exchange[13]. - The company has not reported any changes in its main business since its listing[16]. - The company has focused on quality control and cost management, enhancing overall profitability[36]. - The company has established an integrated industrial chain from fuel oil and naphtha to aromatics, PTA, polyester, and filament[32]. Market and Industry Dynamics - The aromatics project has progressed smoothly, contributing significantly to the company's overall performance[33]. - Oil prices have gradually increased from below $30/barrel to $58/barrel, improving the profitability of various products[34]. - PTA supply and demand have tightened, leading to an increase in gross margin for the company[35]. - The company controls approximately 28% of the national PTA production capacity, with around 1,350,000 tons[39]. - The polyester fiber production capacity is 110,000 tons/year, accounting for about 3% of the national total[40]. Research and Development - The company has established a strong R&D foundation with the establishment of various research centers since 2012, enhancing its product development capabilities[49]. - R&D investment rose by 180.79% to approximately CNY 660 million, representing 1.45% of operating revenue[74]. - R&D personnel increased by 54.43% to 1,132, accounting for 17.80% of total employees[74]. - The company is focused on developing new technologies to improve operational efficiency and product quality[157]. Financial Management - The company has no significant discrepancies between financial reports prepared under international and Chinese accounting standards[19][20]. - The company reported a net increase in cash and cash equivalents of CNY 863.54 million, up 143.49% year-on-year[76]. - The company has a total of CNY 34,685 million in guarantees for March 2016[164]. - The company has no overdue principal or income from entrusted loans, ensuring a clean financial record[171]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, adhering to ISO9001 and ISO14001 standards in its operations[177]. - The company achieved wastewater discharge compliance with a total of 1,237.42 million tons across its subsidiaries[181]. - The company has invested in pollution control facilities, ensuring their normal operation without any reported anomalies[181]. - The company has implemented a clean production initiative to reduce pollution and increase efficiency[181]. Corporate Governance - The company has established a clear profit distribution policy to enhance transparency and protect minority shareholders' rights[126]. - The company has committed to not transferring or entrusting the management of its shares for 36 months following the IPO, which began in November 2010[134]. - The company has established a non-competition agreement with its controlling shareholder, ensuring no competition with the company[135]. - The company has maintained a continuous audit service with Tianjian Accounting Firm for 11 years, with an audit fee of 1.76 million yuan[141].