KCGJ(SH:600097)2019-04-19 16:00Financial Performance - The company's net profit attributable to shareholders for 2018 was CNY 140,318,845.73, representing a 14.50% increase compared to CNY 122,553,612.75 in 2017[5]. - Total revenue for 2018 reached CNY 1,909,976,199.73, marking a 6.85% growth from CNY 1,787,457,508.80 in the previous year[20]. - The basic earnings per share for 2018 was CNY 0.58, up 13.73% from CNY 0.51 in 2017[21]. - The company reported a net profit of CNY 136,277,526.19 after deducting non-recurring gains and losses, which is a 19.49% increase from CNY 114,044,959.98 in 2017[20]. - The net profit for 2018 reached CNY 146,009,502.23, representing a growth of 15.69% compared to CNY 126,182,211.22 in 2017[173]. - The net profit attributable to the parent company was 140 million yuan, an increase of 17.77 million yuan compared to the previous year, driven by increased catch volume and higher prices for certain fish species[36]. Assets and Liabilities - The company's total assets increased by 28.07% to CNY 2,306,723,053.71 at the end of 2018, compared to CNY 1,801,140,797.46 at the end of 2017[20]. - The net assets attributable to shareholders at the end of 2018 were CNY 1,643,356,796.74, reflecting an 8.01% increase from CNY 1,521,432,308.57 at the end of 2017[20]. - The total liabilities increased to CNY 641,365,439.16 from CNY 264,313,231.41, representing a significant rise of approximately 143%[166][167]. - The long-term payables reached 331.49 million, reflecting a 100% increase due to long-term ship purchase loans[52]. Cash Flow - The net cash flow from operating activities for 2018 was CNY 190,497,570.48, a decrease of 4.87% from CNY 200,251,807.82 in 2017[20]. - The company reported a cash inflow of CNY 102,593,795.77 from other operating activities, down from CNY 120,126,013.30 in the previous year, indicating a decrease of approximately 14.6%[178]. - The net cash flow from investing activities was negative at CNY -453,755,279.73, compared to a positive CNY 887,455.64 in the previous year, indicating a significant decline[179]. - Cash flow from financing activities generated a net inflow of CNY 285,982,981.13, recovering from a net outflow of CNY -64,656,672.60 in 2017[179]. Business Operations - The company’s main business involves deep-sea fishing and food processing, with a focus on tuna and other marine resources[27]. - The tuna purse seine fleet achieved a catch volume of 86,800 tons, a year-on-year increase of 21.64%, with sales volume reaching 79,800 tons, up 13.79%[34]. - The company is actively pursuing a strategy of "industry expansion and product return," aiming to strengthen its market position and operational efficiency[32]. - The company aims to expand its market presence internationally, leveraging the acquisition of ALBO and FCS to enhance profitability[32]. Acquisitions and Investments - The company successfully acquired 70% of Canadian FCS's shares, enhancing its operational capabilities and market reach[35]. - The acquisition of Spain's ALBO and Canada's FCS has introduced new profit growth points and expanded domestic and international markets, driving significant performance growth[56]. - The company completed the acquisition of 70% of Canadian FCS Company for CAD 7.7 million, with plans to acquire the remaining 30% within five years[68]. Risk Management - The company has acknowledged potential industry and operational risks in its report, advising investors to review the risk factors and countermeasures discussed[7]. - The company faces risks related to policy changes in the distant water fishery sector, which could significantly impact its operational and profitability capabilities[78]. - The company intends to strengthen its risk management and improve operational management levels to mitigate potential risks[76]. Corporate Governance - The company maintains strict compliance with corporate governance standards, ensuring the protection of minority shareholders' rights[140]. - The board of directors includes a mix of experienced professionals with backgrounds in various industries, enhancing strategic decision-making[126]. - The company has independent directors who contribute to corporate governance and oversight[126]. Shareholder Information - The company plans to distribute a cash dividend of CNY 1.80 per 10 shares, totaling CNY 43,368,580.62, subject to shareholder approval[5]. - The company has proposed a cash dividend of 1.80 RMB per 10 shares, totaling 43.37 million RMB, which accounts for 30.91% of the net profit attributable to shareholders[82]. - The largest shareholder, Shanghai Ocean Fishery Co., Ltd., holds 101,811,538 shares, representing 42.26% of the total shares, with no changes reported during the period[116]. Employee and Training - The company has a total of 1,191 employees in its main subsidiary, with 940 in production, 53 in sales, 114 in technical roles, 17 in finance, and 67 in administration[135]. - The company emphasizes a training program focused on maritime safety and skills, enhancing employee capabilities to ensure operational safety[137]. Financial Reporting - The company has made changes to its accounting policies, including the reclassification of "research and development expenses" to a separate line item in the income statement[87]. - The company has adjusted its financial reporting in accordance with new financial instrument standards effective from January 1, 2019, without impacting its profit or loss[88]. - The company’s financial statements were approved by the board of directors on April 18, 2019[196].