NEW JCM(SZ:300157)2018-04-20 16:00Dividend Policy - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[7]. - The company maintains a profit distribution policy emphasizing stable returns to investors, with a minimum cash distribution of 10% of profits in profitable years[192]. - The company has a policy to distribute at least 30% of the average distributable profits over the last three years in cash, barring special circumstances[193]. - The company will not issue new shares or convertible bonds if cash distributions fall below the stipulated threshold in the last three years[195]. - The company's board of directors must propose a profit distribution plan based on the company's profitability and funding needs, requiring approval from more than half of the directors and independent directors[199]. - The company is obligated to disclose the profit distribution plan and cash dividend policy execution in its annual and semi-annual reports[200]. - If the company does not propose a cash profit distribution plan or distributes below the stipulated cash dividend ratio, it must explain the reasons in its periodic reports[200]. - Any adjustments to the profit distribution policy due to significant changes in the external environment or the company's operations must comply with regulations and require a special resolution from the shareholders' meeting[200]. - The company must ensure that public shareholders can participate in the shareholders' meeting and may collect voting rights from eligible shareholders[199]. - The board of directors must engage in discussions with independent directors and supervisors regarding the profit distribution plan[199]. - The shareholders' meeting must actively communicate with shareholders, especially minority shareholders, regarding cash dividend proposals[199]. - The profit distribution plan must be approved by more than two-thirds of the voting rights at the shareholders' meeting if adjustments are made[200]. - The independent directors and supervisory board must provide independent opinions and review comments on the profit distribution plan[200]. - The company should provide online voting options to facilitate public shareholder participation in the decision-making process[200]. Financial Performance - The company reported a total revenue of 1.2 billion RMB for the fiscal year, representing a year-over-year increase of 15%[25]. - The company’s operating revenue for 2017 was ¥2,933,483,520.08, representing a 116.95% increase compared to ¥1,352,144,100.67 in 2016[31]. - The net profit attributable to shareholders was -¥446,135,354.91, a decrease of 625.15% from ¥84,953,818.78 in 2016[31]. - The net cash flow from operating activities was -¥184,198,265.26, showing a 9.17% improvement from -¥202,784,101.45 in 2016[31]. - The total assets at the end of 2017 amounted to ¥6,330,101,140.51, a 10.18% increase from ¥5,745,391,102.86 at the end of 2016[31]. - The net assets attributable to shareholders decreased by 13.00% to ¥3,269,190,149.51 from ¥3,757,545,062.52 in 2016[31]. - The company reported a basic and diluted earnings per share of -¥0.63, a decline of 584.62% from ¥0.13 in 2016[31]. - The company achieved operating revenue of CNY 293,348.35 million, a year-on-year increase of 116.65%[112]. - The company recorded an asset impairment provision of CNY 61,339.95 million, resulting in an operating profit of -CNY 39,508.30 million, a decrease of 408.15% year-on-year[112]. - The total liabilities amounted to CNY 279,093.70 million, with a debt-to-asset ratio of 44.09%, an increase of 13.93 percentage points from the previous year[112]. Market Expansion and Growth - User data showed a growth in active clients by 20%, reaching 500,000 users by the end of the reporting period[25]. - The company provided a future outlook, projecting a revenue growth of 10-15% for the next fiscal year[25]. - The company is expanding its market presence in North America, targeting a 30% increase in market share within the next two years[25]. - The company plans to enter the European market, with an initial investment of 50 million RMB allocated for this expansion[25]. - Market expansion efforts are underway, with plans to enter three new international markets by Q3 of the next fiscal year[77]. - The company is actively pursuing market expansion through various projects, including a collaboration with Huazhong University for resource utilization of traditional Chinese medicine waste[127]. Research and Development - The company has invested 100 million RMB in R&D for sustainable energy solutions, aiming to lead in eco-friendly technologies[25]. - The company is focusing on innovative business models and operational modes in the supply chain finance sector, enhancing its service offerings to meet diverse enterprise needs[56]. - The company has achieved significant progress in software technology research and development, with over twenty oil and gas exploration and development technologies and software products[65]. - The company has established a comprehensive research and development center, including a postdoctoral research station and collaboration with international experts, enhancing its technological capabilities[69]. - The company is committed to enhancing its technological capabilities and expanding its service offerings in the energy sector[74]. - The company is actively pursuing new software solutions to address complex geological conditions, showcasing its commitment to research and development in the energy sector[82]. Acquisitions and Partnerships - The company has completed major acquisitions, including Langfang New Saipu and Xian Aohua, to build a comprehensive energy service company[13]. - A strategic acquisition of a local competitor was completed, enhancing the company's service capabilities and expected to contribute an additional 200 million RMB in revenue[25]. - The company has established a new partnership with a leading technology firm to enhance digital service offerings, expected to increase customer engagement by 40%[25]. - The company has signed 30-year gas franchise agreements with multiple counties in Sichuan Province, expanding its market share in the clean energy and distributed energy sectors[48]. - The company has expanded its software technology into the Russian energy market through a partnership with ALFA Ltd[45]. Risk Management - The company has a significant amount of accounts receivable at the end of the period, which poses a risk to its operating performance and cash flow if not collected in a timely manner[16]. - The company is actively managing the risks associated with its investment funds, which have long investment cycles and uncertain returns[17]. - The company faces risks related to intellectual property infringement due to the high market value and application of its proprietary technologies[12]. - The company acknowledges the potential impact of uncontrollable factors such as political and economic changes on its operations[18]. - The company has set up measures to manage accounts receivable risks, especially in international business, considering the long project cycles[16]. Technological Advancements - The company has established a supercomputing center capable of processing 22 million trillion calculations per second, enhancing its data processing capabilities[45]. - The company has developed various software solutions for oil and gas exploration, including seismic data processing and reservoir simulation systems[76]. - The company’s geological reservoir technology is superior, with its modeling software outperforming similar foreign software in both calculation results and efficiency[66]. - The company has developed geothermal energy technology since 2011, establishing three specialized engineering teams for high-temperature geothermal projects[71]. - The company has developed various new products, including a hydraulic system pressure regulating device and a multi-functional winch, which are now authorized utility model patents[107]. Environmental and Social Responsibility - The company is focusing on expanding its non-oil business and environmental engineering sectors, achieving rapid progress in these areas[64]. - The environmental engineering segment is focused on expanding industrial wastewater and rural sewage projects, establishing strategic partnerships for mutual benefits[188]. - The company has initiated several projects, including wastewater treatment systems for two villages, enhancing its market presence in rural infrastructure[127]. Financial Management - The company has increased its available-for-sale financial assets by 43.63% compared to the beginning of the period, primarily due to increased investment in Zhongguancun Bank[61]. - The company is actively establishing merger and acquisition funds and industrial investment funds to enhance its investment management and expand its industrial chain[60]. - The company has implemented a dedicated account management system for the raised funds, ensuring compliance with relevant laws and regulations[168]. - The company has maintained strict compliance with approval procedures for the use of raised funds, with no unauthorized usage reported[172].