Yibin paper(SH:600793)2019-04-29 16:00Financial Performance - In 2018, the company achieved a net profit of ¥174,462,541.89, an increase of 88.68% compared to ¥92,464,659.40 in 2017[4]. - The operating revenue for 2018 was ¥1,292,798,476.86, representing an 11.64% increase from ¥1,157,964,829.79 in 2017[19]. - The basic earnings per share for 2018 was ¥1.6568, up 88.68% from ¥0.8781 in 2017[20]. - The net profit for 2018 was 174.46 million RMB, showing a significant increase of 88.68% compared to the previous year[38]. - The company's operating costs increased by 2.76% year-on-year, amounting to 1,083.08 million RMB in 2018[40]. - The gross profit margin improved to 16.14%, up by 7.26 percentage points from the previous year[42]. - The company reported a non-recurring gain of ¥215 million from relocation compensation, significantly impacting overall performance[50]. - The company achieved a total comprehensive income of CNY 175,569,104.13 for 2018, compared to CNY 92,712,932.64 in 2017, indicating a growth of 89.5%[143]. Assets and Liabilities - The company's total assets at the end of 2018 amounted to ¥3,645,985,521.55, a 3.03% increase from ¥3,538,742,538.51 in 2017[19]. - The net assets attributable to shareholders at the end of 2018 were ¥320,166,283.71, a significant increase of 119.74% from ¥145,703,741.82 in 2017[19]. - Total liabilities decreased to ¥3,325,819,237.84 from ¥3,393,038,796.69, a reduction of approximately 2.0%[131]. - The company's equity attributable to shareholders rose to ¥320,166,283.71 from ¥145,703,741.82, indicating a substantial increase of approximately 119.5%[132]. - The total non-current assets decreased to ¥2,395,342,187.41 from ¥3,002,631,520.81, reflecting a decline of approximately 20.2%[131]. Cash Flow - The company reported a net cash flow from operating activities of ¥142,718,075.83 in 2018, recovering from a negative cash flow of ¥157,071,733.78 in 2017[19]. - Cash flow from operating activities in 2018 was CNY 986,496,943.88, an increase from CNY 916,155,703.70 in 2017[145]. - The ending balance of cash and cash equivalents was CNY 20,833,071.50, up from CNY 7,749,060.16 at the beginning of the year[150]. Operational Highlights - The company has successfully developed bamboo pulp unbleached food packaging paper, becoming the first in the world to do so[35]. - The company operates under a "sales-driven production" model, which enhances inventory turnover and reduces costs[28]. - The production volume of food paper was 224,626 tons, with a sales volume of 219,289 tons, showing a slight decrease in sales volume by 0.92% year-on-year[44]. - The company has an annual production capacity of 250,000 tons of food packaging paper[54]. Environmental and Sustainability Efforts - The company’s environmental indicators have reached national standards, positioning it as an industry leader in pollution control[31]. - The company’s wastewater discharge is significantly below national standards, with an average COD of 40 mg/L[69]. - The wastewater treatment plant, with an investment of over 110 million RMB, has a design capacity of 35,000 tons per day and utilizes advanced treatment processes to ensure compliance with emission standards[71]. - The company achieved an average SO2 emission of 15 mg/Nm³, NOx at 50 mg/Nm³, and particulate matter at 9 mg/Nm³, all significantly below national standards[70]. Shareholder and Governance Information - The total number of ordinary shareholders at the end of the reporting period was 10,693, a decrease from 11,322 at the end of the previous month[80]. - The largest shareholder, Sichuan Yibin Wuliangye Group Co., Ltd., holds 56,691,800 shares, representing 53.84% of the total shares[82]. - The company did not receive any regulatory notifications or penalties in 2018, indicating effective governance practices[102]. - The company held a total of 7 shareholder meetings, including 1 annual and 6 extraordinary meetings, to discuss various resolutions such as system revisions and related party transactions[101]. Employee and Management Information - The total number of employees in the parent company is 1,288, with 981 in production, 28 in sales, 146 in technical roles, 25 in finance, and 108 in administration[96]. - The total remuneration for directors and senior management during the reporting period amounted to 207.38 million yuan[87]. - The company has implemented a training plan for employees to enhance overall quality and management levels, including regular professional training for directors and senior management[98]. Future Outlook and Strategy - The company plans not to distribute profits for 2018 to ensure normal operations and long-term development[4]. - The company plans to optimize its debt structure and reduce financial costs through a private placement[58]. - The company is focusing on the integration of bamboo pulp paper and deep processing to leverage local resource advantages[56]. - The company plans to strengthen its marketing strategies and enhance the capabilities of its marketing team[58].