JZWF AL(SZ:000612)2018-04-02 16:00Financial Performance - The company's operating revenue for 2017 was CNY 5,016,764,070.05, representing a 27.78% increase compared to CNY 3,926,000,567.30 in 2016[16]. - The net profit attributable to shareholders for 2017 was CNY 175,731,126.68, a significant increase of 77.11% from CNY 99,223,616.85 in 2016[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 45.03% to CNY 87,197,234.59 in 2017 from CNY 158,640,619.44 in 2016[16]. - The net cash flow from operating activities for 2017 was CNY 148,922,727.78, a decrease of 35.24% compared to CNY 229,946,233.34 in 2016[16]. - The basic earnings per share for 2017 was CNY 0.148, up 76.19% from CNY 0.084 in 2016[16]. - Total assets at the end of 2017 were CNY 7,464,775,416.69, reflecting a 2.50% increase from CNY 7,280,940,446.58 at the end of 2016[16]. - The net assets attributable to shareholders increased by 4.13% to CNY 4,710,100,042.75 at the end of 2017 from CNY 4,526,036,618.47 at the end of 2016[16]. - The company achieved operating revenue of CNY 5,016,764,070.05, a year-on-year increase of 27.78%[30]. - The net profit attributable to shareholders reached CNY 17,573.11 million, up 77.10% year-on-year, primarily due to increased investment income from joint ventures and insurance compensation of CNY 10,700 million[30]. - The gross profit margin for the main products decreased due to the rise in raw material prices exceeding the increase in aluminum product prices[30]. Dividend Distribution - The company plans to distribute a cash dividend of 0.50 yuan per 10 shares to all shareholders, based on a total of 1,192,199,394 shares[4]. - The company plans to distribute cash dividends of 0.50 RMB per 10 shares, totaling 59,609,969.7 RMB for the year 2017[69]. - Cash dividend total amount is ¥59,609,969.7, accounting for 37.69% of the total profit distribution[71]. - Each 10 shares will receive a cash dividend of ¥0.50, with a total of 1,192,199,394 shares as the basis for distribution[70]. - The distributable profit amounts to ¥158,158,014.01, indicating a healthy profit margin for the company[70]. Shareholder Information - The company has undergone several changes in its major shareholders, with the latest change occurring on November 16, 2017, when the largest shareholder changed to He Tai An Cheng[14]. - The largest shareholder, Zhangshu City He Tai An Cheng Investment Management Center, holds 17.11% of shares, totaling 203,986,570 shares, with 121,150,000 shares frozen[128]. - The second-largest shareholder, Hangzhou Jintou Jinzong Investment Partnership, holds 16.41% of shares, totaling 195,582,591 shares, with 5,366,353 shares frozen[128]. - The third-largest shareholder, Jiayi (Tianjin) Investment Management Co., Ltd., holds 15.64% of shares, totaling 186,510,161 shares, with 162,220,087 shares frozen[128]. - The state-owned shareholder, Jiaozuo Wanfang Group, holds 7.42% of shares, totaling 88,481,331 shares, with 27,100,000 shares frozen[128]. - The company maintains a diverse shareholder base with no significant shareholder holding more than 17.11%[132]. Operational Focus - The company reported that its main business remains aluminum smelting and processing, with no changes since its listing[14]. - The company has maintained a consistent operational focus on aluminum production, indicating stability in its business model[14]. - The company has maintained a competitive edge in the aluminum industry through a comprehensive coal-electricity-aluminum processing integration model[25]. - The company is actively researching and developing low-energy consumption electrolytic cell technology, which is among the best in the industry[26]. - The company aims to enhance its comprehensive competitiveness by integrating coal, electricity, aluminum, and aluminum processing industries[61]. - The company will focus on developing high-tech, high-value-added aluminum products to upgrade its product offerings[61]. - The company intends to optimize its power supply structure to reduce electricity costs and improve operational efficiency[62]. Environmental Responsibility - The company is committed to environmental responsibilities, adhering to regulations and increasing investments in environmental technology[30]. - The company has established an environmental management system compliant with ISO14001:2004 standards to mitigate policy risks related to environmental regulations[63]. - The company has achieved a significant reduction in pollutant emissions, with sulfur dioxide emissions recorded at 3,529.18 tons, well below the regulatory limit of 3,650 tons[109]. - The company has implemented clean production initiatives and energy-saving technology upgrades, leading to improved environmental compliance[105]. - The company has committed to ongoing environmental protection measures, ensuring compliance with pollution discharge standards[109]. - The company has invested CNY 130 million in pollution control facilities, achieving an operational efficiency of over 95% for various pollutants and a facility integrity rate of over 98%[111]. Risk Management - The company has implemented measures to stabilize operational performance, including market analysis and risk management strategies[30]. - The company has implemented a risk management strategy for derivative investments, limiting positions to no more than 5% of monthly production/demand for the current month and 10% for the next month[54]. - The company’s derivative trading operations are primarily focused on hedging purposes, with strict adherence to established risk management protocols[54]. - The company anticipates facing market risks due to overcapacity in the aluminum electrolysis industry, leading to prolonged low product prices[65]. Governance and Compliance - The company has a strong governance structure, with independent directors like Liu Libin and Wang Cunsheng providing oversight and expertise[144][145]. - The company has established a remuneration assessment committee to oversee the compensation of senior management[150]. - The company has a commitment to transparency, as evidenced by its detailed disclosures regarding board member appointments and resignations[141][147]. - The company operates independently from its shareholders in all aspects, ensuring complete operational autonomy[162]. - The company has not encountered any litigation issues related to its derivative investments during the reporting period[54]. - The company has not faced any bankruptcy reorganization matters during the reporting period[83]. Employee Information - The total number of employees in the parent company is 3,886, with 3,289 receiving compensation during the reporting period[155]. - The professional composition includes 3,541 production personnel, 9 sales personnel, 89 technical personnel, 28 financial personnel, and 219 administrative personnel[155]. - The educational background of employees shows that there are 20 with a master's degree or above, 304 with a bachelor's degree, 815 with a college degree, and 2,747 with a secondary vocational education or above[155]. - The company emphasizes a performance-based salary system, linking management compensation closely to the achievement of business goals[156]. - Training programs are tailored to the company's operational needs, focusing on practical effectiveness and diverse employee training requirements[157].