金正大(002470) - 2019 Q4 - 年度财报

Financial Performance - The company reported a significant decline in performance for 2019, with an audit report indicating major internal control deficiencies and a disclaimer of opinion from the auditor[6]. - The financial data for 2019 cannot be confirmed as accurate or complete due to unresolved issues from the previous year's audit[7]. - The company is facing potential significant adjustments in accounting statements due to previous transactions with related parties and unsubstantiated trade income[7]. - The company's operating revenue for 2019 was ¥11,308,871,930, a decrease of 26.95% compared to ¥15,481,574,104.98 in 2018[24]. - The net profit attributable to shareholders was -¥683,163,953.97, representing a decline of 262.10% from ¥421,438,192.07 in the previous year[24]. - The basic earnings per share for 2019 was -¥0.21, a decrease of 261.54% from ¥0.13 in 2018[24]. - The weighted average return on net assets was -6.75%, a decline of 11.19% compared to 4.44% in 2018[24]. - The company reported a net loss of approximately ¥216.08 million for the period, with total revenue of ¥1.76 billion, indicating a challenging financial performance[97]. Dividend Policy - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves for the year[11]. - The company did not distribute cash dividends for the years 2019 and 2018, and only distributed cash dividends of 252,627,047.68 yuan in 2017, which accounted for 35.31% of the net profit attributable to ordinary shareholders[109]. - The company has not proposed a cash dividend distribution plan despite having positive distributable profits for the reporting period[109]. - The company has not made any adjustments to its cash dividend policy in the last three years[108]. Internal Control and Audit Issues - The internal control self-assessment report for 2019 indicates significant deficiencies in internal controls[10]. - The company has not yet restated previous financial reports related to the audit issues[7]. - The board of directors acknowledged the impact of the audit report with a disclaimer of opinion and committed to taking effective measures to mitigate its effects[122]. - The company plans to enhance internal controls across various operational areas, including financial activities and procurement, to address issues raised in the audit report[123]. - The company will conduct a comprehensive self-examination of its relationships with related trading companies to ensure compliance with disclosure obligations[123]. - The board will actively cooperate with the audit firm to gather necessary evidence and resolve issues leading to the disclaimer of opinion[122]. Strategic Developments and Future Plans - The company’s future plans and strategic developments are subject to investment risks and do not constitute a commitment to investors[10]. - The company aims to promote sustainable agriculture through soil improvement and agricultural service solutions, addressing challenges in the agricultural sector[37]. - The company is positioned to benefit from the ongoing supply-side reforms and environmental regulations, which are driving the industry towards more sustainable and high-tech solutions[39]. - The company aims to enhance the efficiency of its new fertilizer business by focusing on key agricultural areas and promoting integrated crop nutrition management solutions[88]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its portfolio[137]. Market and Product Development - The company has established production bases in multiple regions, covering over 100 types of fertilizer products, making it one of the most diverse fertilizer companies in China[36]. - The company has developed a full range of products, including controlled-release fertilizers and various specialized fertilizers, to meet the diverse needs of different crops and regions[44]. - The company reported a significant increase in user demand for specialized and customized agricultural products and services, reflecting a shift towards more efficient and effective farming practices[39]. - New product launches are expected to contribute positively to revenue growth in the upcoming fiscal year[137]. Environmental Compliance and Sustainability - The company is committed to environmental protection, promoting the "亲土种植" (soil-friendly planting) concept and developing environmentally friendly products[158]. - The company has successfully implemented environmental protection facilities in accordance with the Environmental Impact Assessment Law, ensuring compliance with regulations[166]. - The company conducts regular monitoring of its emissions, including water, noise, and waste gas, with data publicly displayed on-site[168]. - The company has established emergency response plans for environmental incidents, which have been reviewed and filed by environmental authorities[167]. Related Party Transactions - The company engaged in significant related party transactions, with a total transaction amount of 230.18 million yuan, accounting for 0.02% of the same type of transactions[140]. - The company’s related party transactions included purchases from Deutz AG amounting to 230.18 million yuan, with a fair market price applied[140]. - The company has not disclosed all related parties and transactions, leading to uncertainty regarding the accuracy of financial statement disclosures[176]. Research and Development - The company has invested in over 50 national and provincial major scientific research projects, resulting in 291 patents and multiple national and provincial awards for technological advancement[43]. - The company plans to invest in research and development to drive innovation and maintain competitive advantage[137]. - The number of R&D personnel decreased by 28.10% to 522, representing 6.09% of the total workforce[67]. Shareholder Commitments and Equity - The company has committed to performance guarantees for its subsidiaries, ensuring that the net profit attributable to the parent company will not be less than 9.5744 million euros, 11.1065 million euros, and 15.0819 million euros for the years 2018, 2019, and 2020 respectively[111]. - The total number of shares decreased by 4,594,987 due to the repurchase and cancellation of shares related to unmet performance commitments[192]. - The company repurchased and canceled 4,594,987 shares due to unmet performance commitments from the acquisition of Linyi Jinzhen Investment Holdings Co., Ltd., resulting in a total share reduction[198].