FJC(SH:600802)2019-04-22 16:00Financial Performance - The company's operating revenue for 2018 was CNY 2,947,371,480.29, representing a 60.68% increase compared to CNY 1,834,340,566.36 in 2017[20] - The net profit attributable to shareholders for 2018 was CNY 337,497,650.07, a significant turnaround from a loss of CNY 151,803,701.17 in 2017, marking a 322.33% increase[20] - The basic earnings per share for 2018 was CNY 0.884, compared to a loss of CNY 0.398 per share in 2017, reflecting a 322.33% increase[21] - The company's cash flow from operating activities increased by 773.26% to CNY 933,029,972.18 in 2018, up from CNY 106,844,073.87 in 2017[20] - The net profit after deducting non-recurring gains and losses was CNY 330,297,155.59 for 2018, compared to a loss of CNY 150,741,324.71 in 2017, marking a 319.12% increase[20] - The company reported a net asset attributable to shareholders of CNY 855,474,685.94 at the end of 2018, a 41.84% increase from CNY 603,146,302.67 at the end of 2017[20] Operational Highlights - The average selling price of cement and clinker increased by 30.47% year-on-year due to improved supply-demand dynamics in the market[34] - The total sales volume of cement products increased by 23.33% year-on-year, achieving historical highs in both production and sales[34] - The company's gross profit margin improved significantly, contributing to the best operating performance in its history[34] - The company's production capacity includes 7 new dry-process clinker cement production lines, with an annual capacity of 7.843 million tons of clinker and 11.64 million tons of cement[28] - The company produced 7.4993 million tons of clinker and 8.9146 million tons of cement, representing year-on-year increases of 29.70% and 33.10% respectively[36] Investment and Expansion Plans - The company plans to invest approximately 710 million yuan in a new 4500t/d clinker cement production line, which will include a 7.5MW low-temperature waste heat power generation system[35] - The company plans to produce 903 million tons of cement in 2019, maintaining a focus on high-quality development[64] - The company plans to invest approximately 71 million yuan in the comprehensive technological transformation project of the cement plant in 2019[77] Cash Flow and Financial Management - The net cash flow from operating activities increased by 773.26% year-on-year, amounting to ¥933,029,972.18, primarily due to significant growth in operating profit and payable items[46] - The net cash flow from investing activities rose by 72.05% year-on-year to ¥22,695,546.33, mainly driven by government compensation of ¥51,768,900 for land and buildings[46] - The net cash flow from financing activities decreased by 921.07% year-on-year, resulting in a net outflow of ¥632,324,756.88, primarily due to repayment of loans totaling ¥502,900,000[46] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.33 per 10 shares to all shareholders based on a total share capital of 381,873,666 shares[4] - In 2018, the company proposed a cash dividend of 12,601,830.98 RMB, which represents 3.73% of the net profit attributable to shareholders[75] - The cumulative undistributed profit of the company at the end of the reporting period was -114.01 million RMB, highlighting weak overall profitability[75] Environmental and Social Responsibility - The company reported a total sulfur dioxide emission of 12.795 mg/m³ at the Fujian Ansha Jianfu Cement Co., Ltd., which is below the standard limit of 100 mg/m³[107] - Nitrogen oxides emissions at Fujian Ansha Jianfu Cement Co., Ltd. were recorded at 318.4 mg/m³, under the limit of 400 mg/m³, with a total emission of 1284.1 tons[107] - The company has achieved a 100% operational rate for pollution control facilities across all 7 clinker production lines and 14 cement grinding lines, ensuring compliance with environmental standards[109] - The company has committed CNY 2.5 million to support infrastructure projects, enhancing regional development capabilities[102] - A total of CNY 2.7135 million was invested in poverty alleviation efforts, helping 50 registered impoverished individuals to escape poverty[103] Governance and Compliance - The company has a governance structure that complies with the Company Law, Securities Law, and relevant regulatory requirements, ensuring no significant discrepancies with the guidelines set by the China Securities Regulatory Commission[149] - The internal control audit report was issued by Huaxing CPA, confirming that the financial statements fairly reflect the company's financial position[154] - The company did not report any significant deficiencies in internal control during the reporting period[154] Market Position and Strategy - The company is the largest cement manufacturer in Fujian Province and the only publicly listed company in the local cement industry[30] - The company aims to enhance its market influence and become the largest cement supplier in the Haixi region[61] - The company is actively pursuing market expansion and innovation-driven development strategies[67] Legal and Litigation Matters - The company has faced significant litigation, including a case where it was ordered to pay 87,113,200 RMB plus interest to Wenzhou Construction Group Mining Engineering Co., Ltd.[86] - The company is involved in another lawsuit with Shandong Shida Energy Engineering Co., Ltd., seeking to confirm the termination of a service contract and a repayment of 31,460,400 RMB[86] Employee and Management Information - The total number of employees in the parent company is 717, while the total number of employees in major subsidiaries is 1,239, resulting in a combined total of 1,956 employees[143] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 5.2818 million yuan[141] - The company implemented a compensation policy that links salary levels to overall business performance and individual contributions[145]