YBTI(SH:600883)2019-04-19 16:00Financial Performance - In 2018, the company achieved a net profit of CNY 10,726,589.38, a decrease of 60.62% compared to the previous year[5]. - The total operating revenue for 2018 was CNY 30,113,795.53, representing a year-on-year increase of 10.46%[21]. - The basic earnings per share for 2018 was CNY 0.0455, down 60.64% from CNY 0.1156 in 2017[22]. - The company's total assets at the end of 2018 were CNY 688,434,218.62, a decrease of 2.67% from the previous year[21]. - The company's net profit attributable to shareholders decreased by 60.62% to CNY 10,750,660.12, primarily due to a 61.1% reduction in total investment income to CNY 20,239,629.62[58]. - The company reported a total comprehensive income of ¥10,759,410.71, down from ¥17,071,920.03 in the previous year[188]. - The company reported a decrease in cash received from sales of goods and services to CNY 35,233,419.80 from CNY 37,040,356.66, reflecting a decline in revenue generation[193]. Cash Flow and Investments - The net cash flow from operating activities for 2018 was negative CNY 24,698,117.06, worsening from negative CNY 19,241,576.93 in 2017[21]. - The net cash flow from investment activities was -141,680,329.65 RMB, a decrease of 194.19% compared to the previous year[55]. - The company reported a significant increase of 89.78% in interest income from time deposits compared to the previous year[53]. - Cash and cash equivalents at the end of the period decreased to CNY 148,029,902.93 from CNY 322,984,473.80, indicating a significant reduction in liquidity[194]. - The company experienced a net cash decrease of CNY 174,954,570.87, contrasting with an increase of CNY 112,059,346.41 in the previous year, highlighting a challenging financial year[194]. Operational Efficiency - The cash flow from operating activities for 2018 was negative CNY 582,759.98, indicating a decline in operational efficiency[25]. - The company faced a significant increase in operating costs, which rose by 13.28% year-on-year, mainly due to a 12.96% increase in cement business costs[42]. - The average unit production cost of cement increased by 20.51% year-on-year, primarily due to a rise in the price of purchased clinker, which added 35.25 RMB per unit[50]. - The company aims to optimize production efficiency and reduce costs while ensuring safety and product quality[77]. Market and Industry Trends - The average selling price of cement in the national market increased by 22% year-on-year, reaching CNY 396.7 per ton in 2018[30]. - The total cement production in China for 2018 was 2.21 billion tons, a year-on-year decrease of 5.3%[30]. - The company anticipates challenges in maintaining market share due to rising production costs and competitive disadvantages[74]. - The cement industry is expected to face downward pressure, with a projected GDP growth of 6%-6.5% nationally and 8.5% in Yunnan province[72]. Shareholder and Dividend Policies - The company proposed a cash dividend of CNY 0.20 per share, totaling CNY 4,721,760.00 to be distributed to shareholders[5]. - The company has a cash dividend policy prioritizing cash distributions, aiming for a minimum of 30% of the average distributable profit over the last three years[82]. - The company plans to engage with minority shareholders to gather opinions on dividend proposals and ensure their rights are protected[84]. - The company did not propose a cash profit distribution plan for ordinary shares despite having a positive profit for the reporting period[88]. Governance and Management - The company has a total of 5 directors, 3 independent directors, and 3 supervisors, all of whom maintained zero shareholding changes throughout the year[137]. - The company has been actively involved in the election process for its governance structure, ensuring compliance with regulations[139]. - The company aims to improve operational efficiency and shareholder value through effective governance[139]. - The company has a structured performance assessment for its management, which influences their remuneration[144]. Environmental Compliance - The company maintained compliance with laws and regulations, ensuring product quality with all cement samples passing inspections in 2018[114]. - The company’s pollution control facilities, including a pulse bag dust collector, operated effectively during the reporting period, achieving standard emissions[116]. - The company obtained a pollution discharge permit valid until November 28, 2020, with all monitored emissions meeting regulatory standards[117]. - The company has established an emergency response plan for environmental pollution incidents, adhering to relevant laws and regulations[118].