RSPC(SZ:002493)2019-04-16 16:00Dividend Distribution - The company plans to distribute a cash dividend of 1.0 RMB per 10 shares to all shareholders, based on a total share capital of 6,291,107,750 shares[2]. - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, totaling 629,110,775 yuan, which represents 39.14% of the net profit attributable to ordinary shareholders for 2018[79]. - The company reported a net profit of 1,607,531,787.78 yuan for 2018, with cash dividends amounting to 629,110,775 yuan, indicating a significant increase in the cash dividend payout compared to previous years[79]. - The company has not proposed any stock bonus or capital reserve conversion for the current year, focusing solely on cash dividends[82]. - The company reported a cash dividend payout ratio of 100% for the current profit distribution plan, indicating a commitment to returning profits to shareholders[80]. Financial Performance - The company's operating revenue for 2018 was ¥91.42 billion, an increase of 26.91% compared to ¥70.53 billion in 2017[10]. - The net profit attributable to shareholders for 2018 was ¥1.61 billion, a decrease of 20.29% from ¥2.00 billion in 2017[10]. - The basic earnings per share for 2018 was ¥0.27, down 22.86% from ¥0.35 in 2017[11]. - Total assets at the end of 2018 reached ¥121.42 billion, a significant increase of 92.66% from ¥62.05 billion at the end of 2017[11]. - The net assets attributable to shareholders increased by 45.81% to ¥20.93 billion in 2018 from ¥14.26 billion in 2017[11]. - The company reported a total profit for the year of CNY 2.29 billion, slightly down from CNY 2.35 billion, showing a decrease of about 2%[192]. - The net profit attributable to the shareholders of the parent company was CNY 1.61 billion, down from CNY 2.02 billion, indicating a decrease of about 20%[193]. Operational Efficiency - The company has strengthened its sales management, achieving a balance between production and sales, which has enhanced operational efficiency[22]. - The company is focused on strengthening internal management and optimizing the supply chain to improve operational efficiency[33]. - The company has developed a comprehensive management system, integrating standardized processes to reduce operational costs[28]. - The company has established effective internal control mechanisms to mitigate risks and enhance operational efficiency[161]. Investment and Financing - The company completed a non-public offering of shares, raising 6 billion yuan to support further industry chain extension[32]. - The company signed a syndicate loan agreement worth 60.7 billion yuan with banks to secure funding for business operations[32]. - The total cash inflow from financing activities surged by 102.58% to ¥103,293,016,683.60 in 2018, driven by increased bank loans and minority shareholder investments[52]. - The company reported a net cash increase of ¥4,348,568,911.42, a 70.61% rise from ¥2,548,766,701.36 in the previous year[52]. Research and Development - The company has established research and development centers, including an "Academician Workstation" and a "Postdoctoral Research Station," to enhance product innovation[28]. - Research and development expenses amounted to CNY 956.18 million, up from CNY 878.92 million, reflecting an increase of approximately 9%[192]. - The number of R&D personnel increased by 1.95% to 1,253, while the proportion of R&D personnel to total employees decreased to 10.70%[50]. Market Position and Strategy - The company is positioned as a leader in the petrochemical and chemical fiber industry, benefiting from the increasing self-sufficiency of petrochemical products in China[23]. - The company is actively advancing the "40 million tons/year refining and chemical integration project" in Zhoushan, Zhejiang, which includes 20 million tons/year of refining and 4 million tons/year of paraxylene capacity, currently in trial production preparation[18]. - The company is focusing on global business expansion and deeper cooperation with international enterprises[75]. - The company is experiencing increased market competition due to capacity oversupply in the synthetic fiber industry, prompting a strategy to enhance product differentiation and competitiveness[76]. Corporate Governance - The company emphasizes that all board members attended the meeting to review the annual report, ensuring accountability for the report's accuracy and completeness[2]. - The company maintains a clear separation from its controlling shareholder in terms of business operations and financial management[151]. - The independent directors did not raise any objections to company matters during the reporting period, indicating a consensus on governance[159]. - The company has established a complete and independent financial department, ensuring independent financial decision-making and compliance with accounting standards[155]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[114]. - The total SO2 emissions from the company were 29.88 tons, which met the discharge standards[115]. - The company has implemented pollution prevention measures in accordance with environmental impact assessments[116]. - The company has not faced any major environmental issues or administrative penalties during the reporting period[116]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,806, with the largest shareholder, Zhejiang Rongsheng Holding Group Co., Ltd., holding 65.39% of shares, amounting to 4,113,915,365 shares[128]. - The company’s largest shareholder remains Zhejiang Rongsheng Holding Group Co., Ltd., with no change in control[126]. - The total number of shares increased from 3,816,000,000 to 6,291,107,750 due to a capital reserve conversion and a private placement of 567,107,750 shares[120]. Financial Health - The total liabilities rose to approximately ¥91.12 billion, up from ¥43.12 billion, marking an increase of 111.1%[184]. - The company's total assets included cash and cash equivalents of ¥14,852,793,232.69, representing 12.23% of total assets[55]. - The company's cash and cash equivalents increased to approximately ¥14.85 billion from ¥8.32 billion, reflecting a growth of 78.5% year-over-year[184]. - The company reported a standard unqualified audit opinion for the financial statements[172].