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南京化纤(600889) - 2019 Q4 - 年度财报
NCFCNCFC(SH:600889)2020-04-09 16:00

Financial Performance - The company's operating revenue for 2019 was ¥657,709,337.23, a decrease of 33.60% compared to ¥990,541,946.83 in 2018[21]. - The net profit attributable to shareholders for 2019 was -¥131,385,179.35, a significant decline from a profit of ¥6,207,156.77 in 2018, representing a decrease of 2,216.67%[21]. - The basic earnings per share for 2019 was -¥0.36, a decrease of 1,900.00% compared to ¥0.02 in 2018[23]. - The weighted average return on equity for 2019 was -9.06%, a decrease of 9.50 percentage points from 0.44% in 2018[23]. - The company reported a drastic decline in investment cash flow, with a net outflow of -¥654,268,902.67, a 308.89% decrease compared to the previous year[50]. - The company reported a net profit of 34,814,783.28 RMB for 2019, with a proposal to not distribute profits or increase capital reserves[97]. - The company reported a total of 31.95 million tons of steam sold, with 99.76% of sales directed to Lenzing (Nanjing)[83]. Assets and Liabilities - The total assets at the end of 2019 were ¥1,929,424,138.48, down 8.16% from ¥2,100,897,822.04 at the end of 2018[22]. - The total liabilities decreased to CNY 531,897,375.16 from CNY 573,695,653.48 in 2018, representing a reduction of about 7.31%[196]. - The company's cash and cash equivalents were CNY 57,620,192.42, down from CNY 68,076,863.46 in 2018, reflecting a decrease of about 15.66%[194]. - The company's retained earnings decreased to CNY 229,371,636.82 from CNY 372,980,011.46, indicating a decline of approximately 38.38%[196]. - The total equity attributable to shareholders decreased to CNY 1,386,475,505.77 from CNY 1,516,979,274.43, reflecting a decrease of about 8.56%[196]. Production and Capacity - The company has a production capacity of 80,000 tons per year for viscose staple fiber as of the end of 2019, indicating a stable production capability in the market[32]. - The company has ceased operations of its viscose filament production line since October 2018, focusing on the new project for 40,000 tons of Lyocell staple fiber, indicating a strategic shift in production focus[34]. - The company is constructing a new solvent-based cellulose fiber (Lyocell) project with an annual production capacity of 100,000 tons, with the first phase of 40,000 tons expected to be operational by the end of 2020[70]. Research and Development - Research and development expenses surged by 96.12% to ¥2,767,588.49, indicating a strategic focus on innovation[50]. - The total R&D expenditure accounted for 0.42% of the operating revenue, with 21 R&D personnel making up 1.73% of the total workforce[60]. - The company intends to improve its R&D expenditure from 1% to 1.2% of main business income by 2020, with an annual growth target of 15% for invention patent authorizations[88]. Environmental Compliance - The company has maintained compliance with environmental regulations, reporting no exceedances in pollutant discharge limits for COD, ammonia nitrogen, and sulfides in 2019[120]. - The company has established emergency response plans for environmental incidents, which have been reviewed and filed with environmental authorities[128]. - Major pollutants emissions for nitrogen oxides were recorded at 23.17 Nmg/m3 with a total discharge of 4.726 tons in 2019, and no exceedances reported[122]. Corporate Governance - The company has appointed Tianzhi International Accounting Firm as the new auditor for the 2019 fiscal year, with an audit fee of 550,000 RMB[107]. - The audit committee confirmed that the internal control system is complete and effective, with no significant deficiencies identified for 2019[170]. - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, ensuring compliance with governance procedures[163]. Shareholder Information - The total number of ordinary shareholders increased from 23,281 to 25,514 during the reporting period[136]. - The largest shareholder, Nanjing New Industry Investment Group, holds 35.41% of the shares, totaling 129,709,768 shares[138]. - Nanjing New Industry Investment Group Co., Ltd. holds 28,301,886 restricted shares, which will become tradable on April 10, 2021, after a 36-month lock-up period[141].