FASTEN(SZ:000890)2017-03-16 16:00Financial Performance - The company's operating revenue for 2016 was CNY 1,906,735,239, representing a 9.32% increase compared to CNY 1,426,542,116 in 2015[18]. - The net profit attributable to shareholders was CNY 141,347,431.36, a significant increase of 27.12% from CNY 5,528,182.57 in the previous year[18]. - The basic earnings per share rose to CNY 0.37, up 27.59% from CNY 0.29 in 2015[18]. - The company reported a net profit of CNY 113,412,578.44 for the year 2016, after accounting for a 10% surplus reserve[86]. - The net profit attributable to the parent company was CNY 141,347,431.36, compared to CNY 111,195,919.50 in the previous year, representing a growth of 27.1%[197]. - The total comprehensive income for the current period is CNY 178,630,829.81, compared to CNY 129,960,485.37 in the previous period, indicating an increase of about 37.4%[198]. Assets and Liabilities - The total assets at the end of 2016 were CNY 8,790,628,284, marking a 41.91% increase from CNY 6,194,598,977 in 2015[19]. - The company's total assets increased to CNY 3,225,398,554.00 from CNY 2,222,217,925.26, marking a growth of 45.2%[193]. - Total liabilities rose to CNY 2,441,378,529.67, compared to CNY 1,271,527,929.59, indicating an increase of 92.0%[194]. - The total liabilities of the company increased to CNY 6.96 billion, up from CNY 4.12 billion, representing a growth of approximately 68.5%[188]. - The total equity attributable to shareholders decreased to CNY 784,020,024.33 from CNY 950,689,995.67, a decline of 17.5%[194]. Cash Flow - The company reported a net cash flow from operating activities of CNY -2,523,081,290, a decline of 25.12% compared to CNY 93,736,075.99 in 2015[18]. - The net cash flow from operating activities was -2,523,081,290.60 yuan, a 25.12% increase in negative cash flow compared to the previous year[55]. - Investment cash inflow surged by 50.69% to 2,639,581,693.94 yuan, primarily due to cash received from the disposal of subsidiaries[56]. - Financing cash inflow increased by 79.96% to 8,142,745,784.00 yuan, reflecting a larger financing scale compared to the previous year[56]. - The company's cash and cash equivalents increased by 742.36% to 199,634,483.92 yuan, reversing a negative cash flow from the previous year[56]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, based on a total of 379,641,600 shares[5]. - The total distributable profit for 2016 is CNY 121,420,559.67, with cash dividends accounting for 100% of the profit distribution[86]. - The cash dividend payout ratio for 2016 represents 26.86% of the net profit attributable to shareholders[84]. - The company plans to distribute cash dividends of CNY 1.00 per 10 shares, totaling CNY 37,964,160.00 for the year 2016[83]. Business Operations and Strategy - The company successfully completed the issuance of ABS in August 2016, which is expected to provide a solid foundation for acquiring low-cost market financing[29]. - The company initiated 54 new bridge engineering projects in 2016, including the largest single project in its history, the Dongting Lake Bridge[30]. - The company’s strategic transformation included the acquisition of Shanghai Moshang Commercial Factoring Co., enhancing its business scope to include commercial factoring[33]. - The company is focused on R&D and innovation, maintaining a high-quality research team to ensure sustainable development[34]. - The company aims to enhance business transformation and profitability as key development directions for 2017, amidst challenging macroeconomic conditions[76]. Research and Development - The company developed over 80 new product samples in the commodity steel wire sector, with more than 50 gradually forming into bulk supply[33]. - Research and development investment reached 11,792,120.87 yuan, representing 0.72% of operating income, with a 14.79% increase from the previous year[53]. - Jiangsu Far East has allocated 44.07 million for research and development in new technologies, focusing on enhancing product quality[106]. Market Performance - Domestic sales accounted for 89.71% of total revenue, increasing by 16.40% year-on-year, while overseas sales decreased by 28.55%[42]. - The sales volume of commodity steel wire reached a historical high, with certain types ranking among the top in the industry[30]. - The company maintained a leading market share in the tape rope segment despite a shrinking market, collaborating with clients on new high-strength conveyor belt designs[30]. Corporate Governance - The company has established measures to address potential conflicts of interest arising from industry competition, including the option to acquire competing assets if necessary[89]. - The company has committed to avoiding any direct or indirect competition with its subsidiaries, ensuring no future engagement in competitive business activities[90]. - The company has implemented oversight measures on related enterprises to prevent any competitive overlap with its own products or services[90]. Shareholder Information - The total number of shareholders at the end of the reporting period is 34,482, an increase from 34,304 in the previous month[137]. - The largest shareholder, Farsen Hongsheng Group, holds 21.07% of shares, totaling 79,973,918 shares, with 75,000,000 shares pledged[138]. - Jiangyin Yaobotaibang Investment Center holds 15.00% of shares, totaling 56,946,224 shares, all of which are pledged[138]. Audit and Compliance - The audit opinion issued by Jiangsu Gongzheng Tianye Accounting Firm confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2016[183]. - The company maintained a standard unqualified audit opinion, indicating no significant issues were found during the audit process[183]. - There were no significant accounting errors requiring retrospective restatement during the reporting period[95].