焦作万方(000612) - 2020 Q4 - 年度财报

Dividend Distribution - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares to all shareholders, based on a total of 1,192,199,394 shares[6]. - The company distributed cash dividends of 0.50 CNY per share for the year 2020, totaling 59,609,969.70 CNY, which represents 10.50% of the net profit attributable to shareholders[125][129]. - In 2019, the company distributed cash dividends of 0.1 CNY per share, totaling 11,921,993.94 CNY, which accounted for 11.18% of the net profit attributable to shareholders[125][129]. - The company’s total distributable profit for the year was 510,666,574.38 yuan[132]. - The cash dividend amount is compliant with the regulations, as it exceeds the minimum requirement of 10% of the distributable profit[132]. - The company is in a mature development stage and aims to maintain a minimum cash dividend ratio of 80% during profit distribution[132]. - No bonus shares or capital reserve transfers to increase share capital are planned for the year[132]. Business Operations - The company has maintained its main business in aluminum smelting and processing since its listing, with no changes in its core operations[21]. - The company is currently a publicly listed entity without a controlling shareholder or actual controller, with plans for a non-public stock issuance approved by the CSRC in November 2020[21]. - The company’s registered address is located in the southern side of Jiaoxin Road, Daiming Town, Ma Village District, Jiaozuo City, Henan Province, with a postal code of 454005[16]. - The company’s legal representative is Huo Bin, and the company is listed on the Shenzhen Stock Exchange under the stock code 000612[16]. - The company has appointed Asia Pacific (Group) CPA Firm as its accounting firm[22]. - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the integrity of the annual report[4]. - The company has outlined potential risks in its future development in the annual report, urging investors to pay attention to investment risks[5]. - The company’s website is http://www.jzwfal.com, providing additional information and updates[16]. - The company’s financial report is disclosed through designated media such as China Securities Journal and Securities Times[20]. Financial Performance - The company's operating revenue for 2020 was ¥4,744,064,718.26, a decrease of 0.36% compared to ¥4,761,183,623.18 in 2019[25]. - Net profit attributable to shareholders for 2020 was ¥567,900,048.71, a significant increase of 432.52% from a loss of ¥442,105,544.66 in 2018[25]. - The net profit after deducting non-recurring gains and losses was ¥572,700,295.82, up 440.77% from ¥-373,251,087.42 in 2018[25]. - Basic earnings per share for 2020 was ¥0.476, representing a 434.83% increase from ¥-0.371 in 2018[25]. - The weighted average return on equity increased to 12.41%, up 9.91 percentage points from 2.50% in 2019[25]. - Total assets at the end of 2020 were ¥7,136,977,155.72, an increase of 1.76% from ¥7,013,209,895.49 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were ¥4,825,525,232.35, an increase of 11.86% from ¥4,313,985,023.65 at the end of 2019[25]. - The company reported a net cash flow from operating activities of ¥828,427,755.59, a 13.93% increase from ¥727,165,738.46 in 2019[25]. Environmental Initiatives - The company has implemented environmental upgrades to achieve ultra-low emissions, significantly reducing total pollutant emissions[38]. - The company was recognized as a "B-class enterprise" for heavy pollution weather performance by the Ministry of Ecology and Environment, highlighting its commitment to environmental standards[48]. - The company has established an emergency response plan for environmental incidents, which was filed with the local environmental protection bureau in August 2020[197]. - The company adheres to ultra-low emission requirements for smoke emissions from its electrolytic and coal-fired power plants, maintaining leading indicators in the industry[198]. - The company has completed various environmental impact assessments and received approvals for multiple projects, including a 280KA aluminum electrolytic cell technology demonstration project[193]. - The company has a valid pollution discharge permit until December 19, 2025, ensuring compliance with environmental regulations[196]. - The company emphasizes clean and green production, continuously improving its environmental protection standards[198]. Strategic Initiatives - The company has established a comprehensive coal-electricity-aluminum integrated operation model to ensure stable supply and reduce production costs[38]. - The company maintains a coal-electric-aluminum integrated operation strategy, which helps mitigate price fluctuations in coal and prebaked anodes[44]. - The company plans to optimize its coal-electricity-aluminum processing integration strategy to enhance overall competitiveness[109]. - The company aims to complete the non-public stock issuance to transition into a listed enterprise with a controlling shareholder[114]. - The company will focus on improving internal management levels and enhancing energy-saving measures to ensure efficient operation of power generation units[114]. - The company intends to accelerate the construction of its information management platform to improve intelligent production levels[111]. - The company will actively cultivate new profit growth points along the aluminum industry chain[112]. Challenges and Risks - The company has faced challenges due to macroeconomic factors affecting the aluminum industry, which may impact product sales and pricing[118]. - The company is closely monitoring policies related to carbon neutrality and peak carbon emissions, which may present both opportunities and challenges for its operations[119]. - The company has implemented an environmental management system that complies with ISO14001:2004 standards, ensuring adherence to government regulations and reducing policy-related risks[117]. Related Party Transactions - The total expected related party transactions for 2020 is estimated at 1,251.72 million CNY (including tax) with actual transactions amounting to 887.13 million CNY, representing 70.87% of the expected amount[166]. - The actual related party transactions with WanFang Group for the year were impacted by COVID-19 and environmental production restrictions, leading to a decrease in demand[167]. - The company sold aluminum liquid and aluminum alloy rods to WanFang Group, with the aluminum liquid transaction amounting to 850.95 million CNY, accounting for 25.52% of similar transactions[166]. - The aluminum alloy rod sales amounted to 36.17 million CNY, representing 17.40% of similar transactions[166]. - The pricing for aluminum liquid was based on the "Yangtze River average weekly price" minus 170 CNY/ton[166]. - The pricing for aluminum alloy rods was based on the arithmetic average price of AL99.70 aluminum ingots on the order date's working week, plus a processing fee of 340 CNY/ton[166]. Social Responsibility - The company has actively participated in social responsibility initiatives, including poverty alleviation efforts in Qinzhuang Village, resulting in the elimination of poverty for 32 households by the end of 2020[186]. - The company invested 1.03 million CNY in infrastructure improvements in Qinzhuang Village, including sewage systems and clean energy projects[187].