FASTEN(SZ:000890)2016-03-30 16:00Financial Performance - The company's operating revenue for 2015 was CNY 1,426,542,116.44, a decrease of 8.09% compared to CNY 1,552,094,711.88 in 2014[16]. - The net profit attributable to shareholders for 2015 was CNY 5,528,182.57, representing an increase of 6.04% from CNY 5,213,268.24 in 2014[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -25,608,781.81, a decline of 77.60% compared to CNY -14,419,596.60 in 2014[16]. - The net cash flow from operating activities was CNY 93,736,075.99, down 67.99% from CNY 292,839,293.44 in 2014[16]. - The total assets at the end of 2015 were CNY 2,979,238,966.87, a decrease of 4.22% from CNY 3,110,540,069.79 at the end of 2014[16]. - The net assets attributable to shareholders at the end of 2015 were CNY 1,046,884,363.61, an increase of 0.53% from CNY 1,041,378,825.87 at the end of 2014[16]. - The basic earnings per share for 2015 were CNY 0.0146, up 6.57% from CNY 0.0137 in 2014[16]. - The diluted earnings per share for 2015 were also CNY 0.0146, reflecting the same increase of 6.57% from CNY 0.0137 in 2014[16]. - The weighted average return on equity for 2015 was -2.45%, a decline of 76.26% compared to -1.39% in 2014[16]. Revenue and Sales - Domestic sales accounted for ¥1,151,851,274.35, which is 80.74% of total revenue, down 8.87% from ¥1,263,993,129.05 in 2014[40]. - The company reported a gross profit margin of 12.05% for metal products, a decrease of 4.45% year-on-year[42]. - The total sales volume of metal products was 160,601 tons, with a production volume of 185,689 tons, reflecting a slight decrease of 0.06%[43]. Cash Flow and Investments - Operating cash inflow decreased by 26.73% to ¥1,095,536,898.29 compared to ¥1,495,294,808.64 in the previous year[50]. - Investment cash inflow increased by 45.42% to ¥80,243,807.48, attributed to the recovery of equity transfer payments[50]. - Net cash flow from investment activities improved significantly by 193.11% to ¥27,962,276.52 from -¥30,032,693.54, due to increased investment recovery and reduced long-term asset payments[50]. - Cash and cash equivalents decreased by 452.49% to -¥84,201,745.32 from -¥15,240,304.65, mainly due to reduced cash recovery from sales[50]. Asset Management - The company plans to improve asset quality and enhance sustainable profitability through major asset restructuring[33]. - The company is actively pursuing the acquisition of 100% equity in Shanghai Moshan Commercial Factoring Co., Ltd., as part of its major asset restructuring efforts[36]. - The company completed the transfer of an 18% stake in Jiangyin Beikarte Steel Wire Products Co., Ltd. for 68 million yuan to Bekaert Wire Products Hong Kong Limited, with the transaction finalized by December 31, 2015[107]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.1 per 10 shares, based on a total of 379,641,600 shares[5]. - The profit distribution plan for 2015 includes a cash dividend of CNY 0.1 per 10 shares, totaling CNY 3.8 million, with remaining undistributed profits of CNY 16.18 million carried forward[72]. - The cash dividend payout ratio for 2015 was 68.67% based on the net profit attributable to ordinary shareholders[73]. Research and Development - Research and development expenses totaled ¥10,272,585.27, accounting for 0.72% of operating revenue, consistent with the previous year[48]. - The company holds over 100 patents, with 16 new patents granted during the reporting period, including 5 invention patents[30]. Corporate Governance and Compliance - The company has maintained a continuous relationship with its auditing firm for 14 years, with an audit fee of CNY 600,000[81]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[82]. - The company has committed to ensuring fair transactions and avoiding conflicts of interest with its controlling shareholder, Jiangsu Farsen Hongsheng Group[75]. Employee and Management Information - The company employed a total of 2,122 staff, with 1,636 in production, 66 in sales, 70 in technical roles, 48 in finance, and 302 in administration[137]. - The total remuneration for the company's directors, supervisors, and senior management during the reporting period amounted to CNY 2.0338 million[136]. - The company emphasizes employee training, mandating over 50 hours of training for production staff, over 80 hours for management, and over 100 hours for senior talents annually[139]. Market and Economic Environment - The overall economic environment remains challenging, impacting traditional manufacturing sectors, which the company acknowledges in its strategic outlook[65]. - The company aims to adapt to the new normal by focusing on quality and efficiency, emphasizing innovation-driven growth and risk prevention strategies[65].