JINNENG(SH:603113)2019-04-22 16:00Financial Performance - The net profit attributable to shareholders for the first three quarters of 2018 was 922,475,169.37 yuan, with the parent company achieving a net profit of 881,049,078.64 yuan[6]. - The net profit for the year 2017 was reported at 678,787,868.51 yuan, with the parent company netting 668,678,102.79 yuan[6]. - Net profit attributable to shareholders for 2018 reached CNY 1,270,261,992.01, representing an 87.14% increase year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 1,163,663,790.18, up 82.03% from the previous year[23]. - The company's operating revenue for 2018 was CNY 8,812,014,796.82, an increase of 32.47% compared to 2017[23]. - The total distributable profit for 2017 after legal reserve deductions was 601,810,292.51 yuan[6]. - Basic earnings per share for 2018 were CNY 1.88, a 79.05% increase from 2017[26]. - The weighted average return on equity rose to 28.67%, an increase of 6.83 percentage points compared to the previous year[26]. Dividend Distribution - The company plans to distribute cash dividends of 2.35 yuan per 10 shares for the first three quarters of 2018, totaling 158,845,771.93 yuan[9]. - The company has committed to distributing at least 15% of the available profit as cash dividends in the first three years post-IPO[6]. - The company distributed cash dividends of 1.51 yuan per 10 shares in 2018, totaling 102,066,857.71 yuan[146]. - The cash dividend in 2018 represented 12.50% of the net profit attributable to ordinary shareholders[150]. - The company has not adjusted its cash dividend policy during the reporting period[146]. Operational Efficiency - The net cash flow from operating activities was CNY 1,691,862,238.30, a significant increase of 117.08% compared to 2017[23]. - The company's total assets at the end of 2018 were CNY 6,795,496,549.91, reflecting a growth of 28.18% from 2017[25]. - The net assets attributable to shareholders increased by 26.25% to CNY 4,866,004,275.17 at the end of 2018[25]. - The company's investment activities generated a net cash flow of -¥622,220,357.14, a 51.71% improvement from the previous year[49]. - The company achieved a capacity utilization rate of 93.53% for coke production, indicating efficient operations[109]. Revenue Breakdown - The main products' revenue breakdown shows that coke revenue was 4.149 billion RMB, accounting for 55.48% of total revenue, with a year-on-year increase of 29.43%[43]. - Carbon black revenue was 1.534 billion RMB, representing 20.51% of total revenue, with a year-on-year increase of 41.70%[43]. - The company reported a significant increase in methanol revenue, reaching 336.918 million RMB, up 54.88% year-on-year[43]. Research and Development - The company invested approximately 26.22 million yuan in R&D, accounting for 3.22% of its operating revenue, focusing on new synthesis technologies and environmental protection[93]. - Ongoing R&D projects include the development of new synthesis techniques for antioxidants and high-performance rubber, with some projects already in the industrialization phase[96]. - The company is also working on advanced white carbon black for green tire applications and other specialized uses in the feed and food industries[96]. Market Position and Strategy - The company operates in the chemical industry, specifically in coal chemical and fine chemical sectors, including sub-industries such as coke, carbon black, methanol, and sorbic acid[69]. - The company aims to eliminate all backward production capacity in the coking industry during the 13th Five-Year Plan period, with a target to resolve excess capacity of 50 million tons[71]. - The company is committed to enhancing ecological environment protection and resource utilization efficiency to provide more quality ecological products[73]. - The company is a leading technology innovation-focused coking enterprise in China, benefiting from the supply-side structural reform and increased infrastructure investment, leading to a rise in coke demand[80]. Shareholder Commitments - The controlling shareholders, Qin Qingping and Wang Yongmei, committed to not transferring or entrusting the management of their shares for 36 months post-IPO[1]. - Major shareholders have committed to not transferring or managing their shares for 12 months post-IPO, ensuring stability in stock price[157]. - Shareholders are required to announce any stock reduction plans three trading days in advance after the lock-up period ends[157]. - The company has established a cautious stock reduction plan to align with operational and capital needs post-IPO[157]. Compliance and Governance - The company has ensured that the financial report is accurate and complete, with a standard unqualified audit report issued by Ruihua Certified Public Accountants[6]. - The company is committed to complying with relevant laws and regulations, with potential risks from changes in industrial policies[144]. - The company has established measures to avoid conflicts of interest and ensure fair transactions with related parties[166]. - The company continues to appoint Ruihua Certified Public Accountants as its auditing firm for 2018, with an audit fee of 550,000 RMB and an audit tenure of 8 years[171].