Xingfa Chem(SH:600141)2019-03-25 16:00Financial Performance - The company's operating revenue for 2018 was approximately ¥17.86 billion, representing a year-on-year increase of 13.29% compared to ¥15.76 billion in 2017[16]. - Net profit attributable to shareholders increased by 26.46% to approximately ¥402.26 million in 2018, up from ¥318.09 million in 2017[18]. - The net profit after deducting non-recurring gains and losses was approximately ¥655.73 million, a significant increase of 71.56% compared to ¥382.22 million in 2016[16]. - The company's cash flow from operating activities was approximately ¥1.90 billion, a decrease of 5.37% from ¥2.01 billion in 2017[16]. - The total assets of the company reached approximately ¥25.66 billion at the end of 2018, an increase of 17.82% from ¥21.78 billion in 2017[16]. - The company's net assets attributable to shareholders increased by 23.39% to approximately ¥7.54 billion at the end of 2018, compared to ¥6.11 billion at the end of 2017[16]. - The company's basic earnings per share for 2018 was ¥0.4157, a decrease of 17.80% from ¥0.5247 in 2017[17]. - The company reported non-recurring losses of approximately ¥253.47 million in 2018, compared to losses of ¥64.13 million in 2017[22]. - The company achieved a total revenue of 17.855 billion RMB in 2018, representing a year-on-year growth of 13.29%[40]. - The net profit for the year was 795 million RMB, with a significant increase of 32.69% compared to the previous year[40]. Dividends and Share Capital - The company plans to distribute a cash dividend of 2 CNY per 10 shares, totaling 145,436,165 CNY (including tax) based on a total share capital of 727,180,828 shares[4]. - The company distributed cash dividends totaling approximately 201.45 million RMB in 2018, representing 41.85% of the net profit attributable to shareholders[99]. - The company reported a total of 727,180,828 shares outstanding after a non-public offering of 105,263,157 shares at a price of 13.30 CNY per share, raising 1.4 billion CNY[145]. - The company successfully completed a capital increase of 121,196,805 shares through a bonus share distribution, resulting in a total share capital of 727,180,828 shares[145]. Audit and Compliance - The company received a standard unqualified audit report from Zhongqin Wanxin Certified Public Accountants[3]. - The financial report is confirmed to be true, accurate, and complete by the responsible persons of the company[3]. - The company has not violated decision-making procedures for external guarantees[4]. - The company has not reported any major related party transactions with its subsidiaries during the reporting period[105]. - The company has not reported any issues regarding the occupation of funds or progress in debt recovery during the reporting period[106]. - The company has not received a "non-standard opinion audit report" from its accounting firm[106]. - The company issued a standard unqualified internal control audit report by Zhongqin Wanxin Accounting Firm[188]. Environmental Management - The company has achieved significant improvements in environmental management through investments in clean production and waste treatment systems[37]. - The company maintained compliance with national environmental regulations, with no exceedances in pollutant discharge limits for wastewater and exhaust gases[137]. - The actual discharge of COD in wastewater was 0.57 tons, significantly below the permitted total of 2.15 tons[136]. - The company has implemented a closed-loop system for wastewater treatment in its yellow phosphorus production units, ensuring no external discharge[137]. - The company’s nitrogen oxides emissions were recorded at 6.791 tons, well within the permitted limit of 200 mg/m³[136]. - The company has established an emergency response plan for environmental incidents, enhancing its preparedness for such events[139]. - The company’s environmental monitoring results are regularly uploaded to a pollution source monitoring data platform for public disclosure[140]. - The company’s environmental management system has been certified and successfully passed re-evaluation in 2018[141]. Research and Development - The company has implemented 10 national key projects and 15 provincial key projects, holding 378 core patents and achieving 14 provincial and ministerial science and technology awards[32]. - The company added 83 new patents during the reporting period, bringing the total to 378 patents[40]. - Research and development expenses totaled ¥284,193,992.05, accounting for 1.59% of operating revenue[53]. - The company has 829 R&D personnel, representing 7.88% of the total workforce[53]. - The company is actively involved in research and development, participating in national and provincial technology projects, and has received multiple awards for technological advancements[67]. Market and Production Capacity - The company has established a marketing network covering over 110 countries and regions, including the US, Germany, Brazil, and Argentina[36]. - The company has a phosphate rock reserve of 230 million tons and an exploration stage reserve of 247 million tons, providing a solid foundation for phosphate chemical development[33]. - The company is the largest producer of sodium tripolyphosphate in China and the largest producer of sodium hexametaphosphate globally, with a fine phosphate capacity of about 200,000 tons[61]. - Glyphosate accounts for 30% of the global herbicide market, with a global production capacity of approximately 1.05 million tons in 2018[61]. - The company's subsidiary has an annual glyphosate production capacity of 180,000 tons, supported by a self-sufficient 100,000 tons of glycine capacity[61]. - The organic silicon market in China has a production capacity of about 2.8 million tons per year, with the company holding a 200,000 tons per year capacity[62]. - The company is upgrading its organic silicon technology, which will increase its capacity to 360,000 tons per year, enhancing market influence and cost control[62]. - The company has a current phosphate production capacity of 600,000 tons, with 200,000 tons of monoammonium phosphate and 400,000 tons of diammonium phosphate, positioning it at a mid-level in the domestic market[64]. Strategic Initiatives - The company is advancing several projects aimed at environmental protection and industrial transformation, including a 3 million tons/year low-grade phosphorite mining project[40]. - The company is focusing on upgrading its product lines, including organic silicon and glyphosate, to improve competitiveness and expand into new markets[94]. - The company intends to increase production efficiency by optimizing cost control and enhancing the integration of production and sales[94]. - The company is committed to developing high-value-added products and advanced technologies, including new types of fertilizers and high-end phosphates[94]. - The company is actively pursuing innovation and technology development to enhance its product offerings and operational efficiency[94]. Governance and Shareholder Relations - The company has committed to avoiding significant related party transactions with its controlling shareholders, ensuring fair market principles are followed[103]. - The company will not engage in any business that directly competes with its controlling shareholders, ensuring no conflicts of interest arise[104]. - The company has established a priority purchase right for its controlling shareholders when transferring matured businesses or assets[104]. - The company has committed to fulfilling its obligations and responsibilities, bearing joint liability for any losses caused to its controlling shareholders due to non-compliance[104]. - The company has a cash dividend policy that emphasizes transparency and aims to protect the rights of minority shareholders[98]. Employee and Management - The total number of employees in the company is 10,514, with 3,163 in the parent company and 7,351 in major subsidiaries[177]. - The company has 7,706 production personnel, 397 sales personnel, 1,654 technical personnel, 182 financial personnel, and 575 administrative personnel[177]. - The total remuneration for all directors, supervisors, and senior management personnel is 10.3795 million yuan[174]. - The company has implemented a salary policy that includes standard wages, overtime pay, performance pay, allowances, bonuses, and related social benefits to enhance employee motivation[178]. - The company has established a fair and transparent performance evaluation system for senior management, ensuring a balance of rights and responsibilities[186]. Debt and Financial Management - The company's debt-to-asset ratio was 67.03% in 2018, slightly down from 67.27% in 2017[196]. - The company maintained a loan repayment rate of 100% for both 2018 and 2017, indicating no defaults[196]. - The total bank credit obtained during the reporting period was ¥15.74 billion, with ¥10.16 billion utilized[198]. - The company strictly adhered to the bond issuance guidelines, ensuring compliance in the use of raised funds and timely interest payments[199]. - The company’s bond credit rating was upgraded to AA+ in May 2018, with a stable outlook maintained[193].