SITI(SZ:000563)2020-04-27 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares to all shareholders based on a total share capital of 3,964,012,846 shares as of the end of 2019[4]. - The cash dividend amount for 2019 was CNY 118,920,385.38, representing 20.45% of the net profit attributable to ordinary shareholders[94]. - The total cash dividend for 2019 accounted for 100% of the distributable profit of CNY 494,298,786.27[97]. - The cash dividend for 2018 was CNY 79,280,256.92, which was 24.82% of the net profit attributable to ordinary shareholders[94]. - The cash dividend for 2017 was CNY 61,809,834.64, representing 17.55% of the net profit attributable to ordinary shareholders[94]. - The company extracted 10% of the net profit as statutory surplus reserve amounting to CNY 58,152,798.39 for 2019[97]. - The company extracted 5% of the net profit as trust compensation reserve amounting to CNY 29,076,399.19 for 2019[97]. - The company has no significant capital expenditure plans, allowing for a higher cash dividend distribution[97]. - The cash dividend distribution policy aims to provide stable returns to shareholders while ensuring long-term development[97]. Financial Performance - The company's operating revenue for 2019 was CNY 1,755,654,630.76, representing a 70.89% increase from CNY 1,027,334,487.80 in 2018[21]. - Net profit attributable to shareholders for 2019 was CNY 581,527,983.85, an increase of 82.03% compared to CNY 319,474,221.09 in 2018[21]. - The net profit after deducting non-recurring gains and losses was CNY 581,317,454.05, up 38.53% from CNY 419,630,626.84 in the previous year[21]. - The company's total assets at the end of 2019 were CNY 14,666,736,402.38, a 19.44% increase from CNY 12,279,353,222.88 at the end of 2018[21]. - The basic earnings per share for 2019 was CNY 0.1467, reflecting a 60.86% increase from CNY 0.0912 in 2018[21]. - The weighted average return on equity for 2019 was 5.46%, an increase of 1.90 percentage points from 3.56% in 2018[21]. - The total profit reached CNY 760 million, reflecting a year-on-year growth of 78.83%[41]. - Net profit amounted to CNY 582 million, with a year-on-year increase of 82.03%[41]. Risk Management - The company has acknowledged the presence of policy, market, and credit risks in its operations, which are detailed in the report[4]. - The company has outlined its risk management strategies in the report, focusing on mitigating potential financial impacts[4]. - The company will continue to adapt to the complex regulatory environment and enhance its risk management capabilities[77]. - The company has strengthened its risk control measures, with a focus on managing credit risk assets effectively[153]. Business Operations - The company has reported a change in its business scope to include various trust services, investment fund management, and financial advisory services[14]. - The company is actively expanding its trust business, including debt, equity, and asset securitization trusts, to drive high-quality development[35]. - The company aims to enhance its core competitiveness through improved governance structure and capital strength, focusing on stable operations and risk management[35]. - The company intends to optimize its business structure by strengthening securities investment trusts and exploring new business types such as mergers and acquisitions[83]. - The company plans to enhance its wealth management services, focusing on high-net-worth clients and providing a comprehensive range of financial lifestyle services[84]. Corporate Governance - The company has emphasized its ongoing commitment to corporate governance and compliance with regulatory requirements[4]. - The company has maintained its commitment to transparency and accuracy in its financial reporting, as stated by its management[3]. - The company has fulfilled all commitments made by its major shareholders and related parties during the reporting period[98]. - The company has not reported any restrictions on share reduction for its controlling shareholder or actual controller[194]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000563[10]. - The first major shareholder reduced its stake by 0.47%, maintaining a 34.58% ownership in the company[147]. - The largest shareholder, Shaanxi Coal and Chemical Industry Group, holds 34.58% of the shares, totaling 1,370,585,727 shares[179]. - The second largest shareholder, Shaanxi Expressway Construction Group, holds 21.62% of the shares, totaling 857,135,697 shares[179]. - The total number of common shareholders at the end of the reporting period was 128,808, an increase from 120,818 at the end of the previous month[179]. - The shareholder structure remains stable with no significant changes in the top ten shareholders[186]. Social Responsibility - The company invested a total of 726,000 RMB in poverty alleviation efforts, helping 318 registered impoverished individuals to escape poverty[139]. - A total of 8 assistance projects were implemented, including the drilling of a well costing 520,000 RMB, benefiting nearly 100 households and 400 individuals[137]. - The company provided 30 million RMB in low-interest loans to a pharmaceutical company, which increased its store count from 102 to 256, creating 32 local jobs and generating tax revenue of 11.399 million RMB[138]. - The company donated 1.5 million RMB to the poverty alleviation fund, supporting various poverty alleviation projects in Shaanxi Province[138]. - The company supported 700 individuals through vocational training as part of its employment transfer poverty alleviation efforts[139]. - The company allocated 12,000 RMB to assist 5 impoverished students, ensuring their educational needs are met[139]. - The company established a standardized activity room for party members in Wuan Village, investing 24,000 RMB[138]. - The company has committed to increasing its financial and operational support for poverty alleviation in 2020, despite challenges posed by the COVID-19 pandemic[143]. Financial Reporting - The company adopted new financial instrument standards effective January 1, 2019, changing the classification of financial assets from "four categories" to "three categories" and shifting to an expected credit loss model for impairment[108]. - There were no significant accounting errors requiring retrospective restatement during the reporting period[109]. - The scope of the consolidated financial statements changed to include structured entities controlled by the company[110]. - The company engaged Xinyong Zhonghe Accounting Firm for internal control audit services, with a fee of 500,000 RMB, marking three consecutive years of service[111]. - The company reported no major litigation or arbitration matters during the reporting period[115]. - The company did not experience any penalties or rectification issues during the reporting period[116]. - The company has no employee stock ownership plans or other incentive measures in place during the reporting period[119]. Asset Management - The company’s total trust assets as of December 31, 2019, amounted to ¥288,712,573,137.08, slightly down from ¥289,524,343,687.78 at the beginning of the year[156]. - The total amount of loans and advances increased by 59.98%, from ¥2,626,964,346.24 at the beginning of the year to ¥4,202,641,095.66 at the end of the year[34]. - The company’s long-term equity investments decreased by 21.80%, from ¥4,523,450.83 at the beginning of the year to ¥3,537,379.37 at the end of the year, primarily due to losses from invested joint ventures[32]. - The company’s cash and cash equivalents decreased by 30.65%, from ¥1,192,528,393.14 to ¥827,053,835.34, mainly due to increased loan disbursements[32]. - The company’s debt investment increased by 233.05%, from ¥981,295,096.73 to ¥3,268,215,695.73, attributed to the consolidation of structured entities and increased trust plan allocations[34].