GZYJPCO(SH:603058)2020-04-19 16:00Financial Performance - The company's operating revenue for 2019 was CNY 470,453,005.57, representing an increase of 8.91% compared to CNY 431,983,389.92 in 2018[19] - The net profit attributable to shareholders of the listed company was CNY 141,238,121.13, a growth of 26.60% from CNY 111,563,047.47 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 114,488,172.35, up by 10.79% from CNY 103,334,529.12 in 2018[20] - Basic earnings per share increased by 30.77% to CNY 0.34 compared to CNY 0.26 in the previous year[21] - The company's weighted average return on equity rose to 14.49%, an increase of 2.1 percentage points from 12.39% in 2018[21] - Total revenue for the fourth quarter reached CNY 145,011,878.96, with a net profit attributable to shareholders of CNY 53,504,871.03[23] - The sales revenue from the cigarette label business grew by 10.11% year-on-year, contributing to stable performance[30] - The pharmaceutical label segment achieved sales revenue of CNY 11.80 million, a year-on-year increase of 26.53%[31] - The total sales revenue from cigarette labels and related materials to Guizhou Zhongyan amounted to 436 million yuan, representing a year-on-year increase of 10.09%[42] - The revenue from pharmaceutical packaging products was 11.80 million yuan, showing a year-on-year increase of 26.53%[45] - The revenue from liquor packaging decreased by 13.96%, totaling 22.18 million yuan[45] - The company achieved a consolidated revenue of 470.45 million yuan, an increase of 8.91% year-on-year[47] - The net profit attributable to the parent company was 141.24 million yuan, reflecting a year-on-year growth of 26.60%[47] - Total revenue for the year was 470,453,005.57 CNY, representing an increase of 8.91% compared to the previous year[52] Cash Flow and Assets - The net cash flow from operating activities decreased by 55.81% to CNY 63,476,536.18 from CNY 143,637,531.58 in 2018[20] - The company reported a net cash flow from operating activities of CNY 42,564,773.66 in the fourth quarter[23] - Cash and cash equivalents at the end of the period amounted to ¥426.67 million, representing 36.32% of total assets, an increase of 2.70% from the previous period[63] - The company's accounts receivable balance at the end of the reporting period was 143.21 million yuan, an increase of 40.6% compared to the end of the previous year, primarily due to higher production value of cigarette labels in Q4[39] - The total assets at the end of 2019 were CNY 1,174,872,119.80, reflecting a 16.68% increase from CNY 1,006,890,386.56 at the end of 2018[20] - The net assets attributable to shareholders of the listed company increased by 10.38% to CNY 1,028,878,042.00 from CNY 932,125,094.17 in 2018[20] - The company's capital reserve decreased by 39.43 million yuan due to the repurchase and cancellation of company shares during the reporting period[40] - The company's construction in progress at the end of the period was 37.27 million yuan, an increase of 28.74 million yuan compared to the beginning of the year[40] - The total liabilities amounted to ¥94.53 million, which is 8.05% of total assets, up 35.55% from the previous period[63] - The company's equity increased by 15.28% to ¥1,080.34 million, accounting for 91.95% of total assets[63] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares to all shareholders[4] - The company plans to distribute cash dividends of at least 20% of the distributable profits for the year, with a minimum of 80% for mature companies without significant capital expenditure plans[96] - In 2019, the company reported a net profit attributable to ordinary shareholders of approximately ¥141.24 million, with a cash dividend distribution plan of ¥51 million, equating to ¥1.20 per 10 shares[103] - The cash dividend for 2019 accounted for 39.20% of the total cash dividends, with previous years showing 44.98% in 2018[105] - The company has a policy to prioritize cash dividends when conditions allow, with specific ratios based on the company's development stage and capital expenditure plans[96] - The company has committed to maintaining a stable and continuous profit distribution policy, balancing investor returns with sustainable development[96] - The board of directors must approve the profit distribution plan, requiring a majority of directors and two-thirds of independent directors' votes[99] - The company has implemented a cash buyback program, with ¥32.88 million counted as cash dividends for 2019, reflecting its commitment to returning value to shareholders[104] Research and Development - The company reported a significant increase in R&D expenses by 31.92%, totaling 20.35 million yuan, to enhance new product development[48] - The company has 69 R&D personnel, making up 11.15% of the total workforce[57] - The company designed and sampled 115 products, with 50 products being put into actual application during the reporting period[46] - The company aims to enhance its product line and risk management capabilities through technological innovation and mergers and acquisitions[78] - The company has implemented a policy of providing technical innovation rewards for R&D personnel and sales performance commissions for marketing staff[179] Market and Business Strategy - The company is focusing on diversifying its product offerings to reduce customer concentration risk[31] - The company has established long-term cooperative relationships with major domestic suppliers, ensuring a stable supply of raw materials[33] - The company has a significant market presence in the cigarette label printing industry, benefiting from a strong brand effect and competitive advantages in technology research and development[36] - The company has expanded its production capacity through technological upgrades and new equipment purchases, enhancing its ability to meet market demand[38] - The company is expanding its product line to reduce reliance on the tobacco industry and mitigate risks associated with stricter regulations and market competition[89] - The company aims to diversify its client base and reduce single-client risk by developing its second main business in the medical cannabis sector[79] - The company is actively developing new customer relationships in Europe and North America to establish a global supply network for its cannabis products[83] Environmental and Social Responsibility - The company’s wastewater discharge was 5,500 tons per year, well within the permitted limits[123] - The company’s air emissions were 3.36 kg per year, also compliant with the relevant standards[123] - The company has implemented effective measures for noise control, ensuring compliance with the industrial noise emission standards[126] - The company has successfully met the emission standards for volatile organic compounds (VOCs) in its operations[125] - The company has established an emergency response plan for environmental pollution incidents, which has been filed with local environmental protection departments[129] - The company conducts semi-annual monitoring of VOCs (volatile organic compounds) and non-methane total hydrocarbons from its production processes[135] - The company has a zero discharge policy for production wastewater, with monitoring conducted quarterly for various parameters including CODCr and BOD5[139] Corporate Governance - The company has established a modern corporate governance structure and improved its information disclosure system since its listing in December 2016[183] - The company confirmed that there were no significant deficiencies in internal control during the reporting period[188] - The company’s internal control evaluation report was approved by the board on April 17, 2020, and disclosed on April 20, 2020[187] - The company ensures the protection of all shareholders' rights, especially those of minority shareholders, during shareholder meetings[183] - The management of Yongji Co. is responsible for the fair presentation of financial statements in accordance with accounting standards[199] Shareholder Information - The total number of limited shares decreased by 480,000, resulting in a total of 194,964,000 limited shares, which is 46.52% of the total shares[145] - The total number of unrestricted shares decreased by 3,955,600, leading to a total of 224,110,400 unrestricted shares, which is 53.48% of the total shares[146] - The largest shareholder, Guizhou Yongji Real Estate Development Co., Ltd., holds 194,566,200 shares, representing 46.43% of the total shares[153] - The company has no reported strategic investors or general legal entities becoming top ten shareholders during the reporting period[157] - The controlling shareholder is Guizhou Yongji Real Estate Development, led by Chairman Deng Daixing[157] Employee and Management Information - The company has a total of 619 employees, with 391 in the parent company and 228 in major subsidiaries[178] - The employee composition includes 435 production personnel, 15 sales personnel, 50 technical personnel, 11 financial personnel, and 108 administrative personnel[178] - The total remuneration for all directors, supervisors, and senior management personnel amounted to CNY 4.055101 million[175] - The company has implemented a diversified salary system based on job performance, ensuring internal and external fairness in compensation[179] - The company aims to cultivate high-quality, professional teams through targeted training programs in collaboration with professional training institutions[180]