JONJEE(SH:600872)2020-03-16 16:00Financial Performance - The company's operating revenue for 2019 was CNY 4,674,844,437.35, representing a 12.20% increase compared to CNY 4,166,464,950.31 in 2018[21] - The net profit attributable to shareholders for 2019 was CNY 717,943,134.48, an increase of 18.19% from CNY 607,427,021.81 in 2018[21] - The cash flow from operating activities for 2019 was CNY 1,058,869,197.81, showing a significant increase of 46.34% compared to CNY 723,569,594.03 in 2018[21] - The basic earnings per share for 2019 was CNY 0.9012, up 18.19% from CNY 0.7625 in 2018[22] - The diluted earnings per share for 2019 was also CNY 0.9012, reflecting the same growth rate of 18.19%[22] - The weighted average return on equity for 2019 was 19.42%, an increase of 1.35 percentage points from 18.07% in 2018[22] - The net profit after deducting non-recurring gains and losses for 2019 was CNY 689,521,439.63, which is a 20.59% increase from CNY 571,813,500.61 in 2018[21] - The company achieved total revenue of 4.675 billion RMB, an increase of 5.08 billion RMB, representing a growth of 12.20% year-on-year[43] - The main business revenue reached 4.626 billion RMB, accounting for 98.96% of total revenue, with a year-on-year increase of 6.13 billion RMB, or 15.26%[43] - The net profit attributable to the parent company was 7.18 billion RMB, an increase of 1.11 billion RMB, reflecting an 18.19% growth compared to the previous year[43] Revenue Breakdown - In 2019, the company's revenue from the seasoning food business accounted for 95.6% of total revenue, with a production volume of approximately 603,000 tons and sales of 610,000 tons[28] - The sales revenue of soy sauce represented 64.92% of the total revenue from seasoning products, while chicken essence and powder accounted for 11.87%[28] - The company's seasoning sales revenue for 2019 was RMB 4,436.85 million, accounting for 94.91% of total revenue, an increase of 3.29% compared to the previous year[190] Cash and Dividends - The company plans to distribute a cash dividend of CNY 2.8 per 10 shares, totaling CNY 223,058,414.32, subject to shareholder approval[5] - The company distributed cash dividends of 22,305.84 million RMB in 2019, representing 31.07% of the net profit attributable to ordinary shareholders[102] - In 2018, the cash dividends amounted to 18,322.66 million RMB, accounting for 30.16% of the net profit attributable to ordinary shareholders[102] Assets and Liabilities - The total assets at the end of 2019 were CNY 5,953,726,937.24, a slight decrease of 0.50% from CNY 5,983,687,463.75 at the end of 2018[21] - The company reported a net asset attributable to shareholders of CNY 3,948,972,297.92 at the end of 2019, a 9.55% increase from CNY 3,604,791,230.11 at the end of 2018[21] - The company's total liabilities decreased by 15.79% for non-current liabilities due within one year, amounting to 4.20 billion yuan[63] - The company's asset-liability ratio decreased to 28.69% in 2019 from 34.02% in 2018, a reduction of 15.67%[181] Research and Development - R&D expenses increased by 20.78% to 147 million RMB, reflecting the company's commitment to innovation and technology advancement[45] - The company established several research and development platforms, including a provincial-level technology center and a national key laboratory, to enhance its technological competitiveness[37] - The total R&D investment was 147.19 million yuan, accounting for 3.15% of operating revenue[56] - The company has a total of 4,667 employees, with 84 in the parent company and 4,583 in major subsidiaries[159] Market Strategy and Expansion - The company plans to enhance its marketing efforts in the catering market, which is gradually increasing its consumption proportion[30] - The company aims to support innovation and development within the industrial park by attracting small and medium-sized enterprises[31] - The company plans to focus on differentiated product customization and market segmentation to drive healthy and rapid growth in the seasoning business[88] - The company is actively pursuing market expansion strategies in emerging markets to diversify its revenue streams[153] Environmental Compliance - The actual COD discharge for wastewater was 23.815 tons, well below the permitted limit of 74.095 tons[129] - The company has not exceeded any pollution discharge standards in 2019, maintaining compliance with environmental regulations[129] - The treated wastewater from both companies meets the discharge standards, which are stricter than the tertiary standards, before being released into the Yangjiang Port area[132] Corporate Governance - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, fully complying with the relevant regulations[170] - The board of directors convened 11 meetings, with all directors fulfilling their duties diligently and responsibly[165] - The supervisory board held 5 meetings, ensuring compliance and oversight of the company's financial activities[166] - The company revised its Articles of Association to enhance governance and operational standards[171] Future Outlook - For 2020, the company expects to achieve a revenue of 5.3 billion yuan, representing a year-on-year increase of 13.3%, and a net profit of 920 million yuan, with a parent net profit of 834 million yuan, reflecting a year-on-year growth of 16%[91] - Future guidance suggests an optimistic outlook, projecting a revenue growth of 10% for the upcoming fiscal year[152]