North Copper(SZ:000737)2020-03-31 16:00Financial Performance - The company's operating revenue for 2019 was ¥1,214,654,424.56, a decrease of 33.53% compared to ¥1,827,270,676.97 in 2018[24]. - The net profit attributable to shareholders for 2019 was -¥48,569,079.10, representing a decline of 118.19% from ¥267,071,931.09 in 2018[24]. - The total profit for 2019 was -¥33,045,016.49, representing a decline of 111.64% year-on-year, while the net profit was -¥46,853,642.61, down 117.98%[48]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -65,354,987.51 CNY, a decrease of 71.44% compared to -228,860,045.47 CNY in the previous year[27]. - Basic and diluted earnings per share were both -0.0885 CNY, a decline of 118.18% compared to 0.4867 CNY in the previous year[27]. - The company reported a significant reduction in sales expenses by 61.33% to CNY 110,281,923.51 due to changes in the consolidation scope[71]. - The company reported a net profit attributable to ordinary shareholders of -48,569,079.10 yuan for 2019, with no cash dividends distributed, resulting in a 0.00% dividend payout ratio[114]. Revenue and Sales - The company generated operating revenue of 289,701,276.78 CNY in Q4 2019, with a total revenue of 1,214,654,424.56 CNY for the year[30]. - The chemical industry contributed ¥1,146,475,184.96 to the total revenue, accounting for 94.39% of the total, with a year-on-year increase of 19.68%[53]. - Domestic revenue was ¥936,356,500.48, which is a 37.69% decrease from ¥1,502,837,165.03 in 2018[53]. - The company reported a sales revenue of 1,185.49 million from the sale of brine and electricity, with a sales rate of 53.89%[182]. - The sales revenue from Sichuan Rongxing's raw materials reached 370.77 million, with a sales rate of 61.80%[184]. - The sales revenue from Xi'an Nanfeng's raw materials and sulfonated products was 1,867.97 million, achieving a sales rate of 134.29%[188]. - The company achieved a sales revenue of 3,292.2 million from the sale of raw materials, with a sales rate of 58.35%[186]. Costs and Expenses - The total operating costs decreased by 30.20% to CNY 959,693,618.32 from CNY 1,374,948,631.06[65]. - Direct material costs rose by 67.82% to ¥425,487,425.75, making up 47.43% of total operating costs[58]. - The direct material costs for the product category "sulfurized products" reached CNY 122,384,817.91, accounting for 80.13% of its total operating costs[62]. - The direct material costs for "sodium sulfide" increased by 0.44% to CNY 148,495,993.18, while its total operating costs rose by 9.59% to CNY 465,796,716.38[62]. - The gross profit margin for the chemical industry was 21.75%, down 8.67% from the previous year[58]. Assets and Liabilities - Total assets amounted to 1,575,054,557.07 CNY, showing a slight increase of 0.17% from 1,572,313,205.53 CNY at the end of the previous year[27]. - The net assets attributable to shareholders were 387,801,997.22 CNY, reflecting a 1.79% increase from 380,996,380.99 CNY at the end of the previous year[27]. - Accounts receivable increased to ¥114,579,871.78, representing 7.27% of total assets, up from 4.36% in 2018[84]. - Inventory stood at ¥211,857,602.96, making up 13.45% of total assets, a slight increase from 13.04% in 2018[84]. - Total assets included cash and cash equivalents of ¥325,305,627.79, accounting for 20.65% of total assets at year-end 2019[81]. Business Strategy and Operations - The company underwent a significant business transformation in 2018, shifting its focus solely to inorganic salt chemical business[22]. - The company plans to enhance its competitive edge through capital operations and leasing assets from subsidiaries of the controlling shareholder[48]. - The company plans to achieve an operating income of 1.332 billion yuan in 2020, with a focus on cost reduction and efficiency improvement[100]. - The company aims to supplement working capital by 200 million yuan in 2020, primarily through bank financing[100]. - The company plans to strengthen sales strategies and improve customer relationships to mitigate market risks[101]. - The company will focus on green, efficient, and high-quality development in response to tightening environmental policies[98]. Research and Development - The company holds 24 valid patents as of December 31, 2019, including 9 invention patents and 15 utility model patents[44]. - The company has focused on internal potential by researching projects related to barium sulfate functional powder materials and inorganic silicon series products[48]. - R&D personnel decreased to 219 in 2019, down 8.75% from 240 in 2018[75]. - R&D investment amounted to ¥6,656,037.45 in 2019, a slight decrease of 0.69% from ¥6,702,108.74 in 2018[75]. Compliance and Governance - The company has engaged Lixin Certified Public Accountants for auditing services during the reporting period[23]. - The company has acknowledged potential risks in its future development and outlined corresponding countermeasures[6]. - The company has not disclosed or leaked any undisclosed significant information during the reporting period[107]. - The company has implemented measures to enhance compliance with information disclosure regulations and prevent future occurrences of related party fund occupation[161]. - The company has committed to timely fulfilling review procedures and disclosure obligations for any future related party fund occupations[161]. Related Party Transactions - The company is committed to avoiding or minimizing related party transactions with Shanxi Coking Coal and its controlled enterprises, ensuring fairness and compliance in all dealings[122]. - The company guarantees that its senior management will not hold positions outside the company, ensuring independence in personnel management and decision-making[131]. - The commitments made by Shanxi Coking Coal are valid until it ceases to be a controlling shareholder of the company, ensuring ongoing compliance[130]. - The company has no non-operating capital occupation by controlling shareholders or related parties during the reporting period[146].