FUJIAN JINSEN(002679)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥189,886,506.97, an increase of 28.27% compared to ¥148,031,923.45 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥12,931,352.95, representing a growth of 48.18% from ¥8,726,737.83 in 2020[21]. - The net cash flow from operating activities surged to ¥83,030,411.44, a remarkable increase of 764.16% compared to ¥9,608,191.82 in 2020[21]. - The basic earnings per share for 2021 was ¥0.05, up 25.00% from ¥0.04 in 2020[21]. - Total assets at the end of 2021 reached ¥1,913,704,431.03, reflecting a growth of 7.92% from ¥1,773,271,020.80 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were ¥761,507,880.16, a slight increase of 0.78% from ¥755,649,207.21 at the end of 2020[21]. - The company reported a negative net profit after deducting non-recurring gains and losses for 2021, amounting to -¥10,507,360.06, which is a 22.75% increase in loss compared to -¥8,559,910.75 in 2020[21]. - The company achieved a significant increase in operating profit of 48.83% year-on-year, amounting to approximately 13.57 million yuan[46]. - The total profit reached ¥12,572,514.45, a 40.16% increase year-on-year, driven by higher operating profit[66]. Revenue and Sales - The company reported a total shareholding of 0 shares for all current directors and supervisors, indicating no changes in shareholding during the reporting period[100]. - The forestry segment accounted for ¥186,654,786.16, or 98.30% of total revenue, with a year-on-year growth of 31.88%[49]. - The sales of pine logs increased significantly by 78.76% to ¥24,325,558.79, while the sales of pine small logs rose by 36.42% to ¥24,408,232.09[50]. - The company completed the sale of 114,100 cubic meters of logs during the reporting period, with no significant changes in the prices of fir, pine, and miscellaneous wood compared to previous years[46]. - The total revenue from direct sales was ¥189,886,506.97, which constituted 100% of the total revenue[53]. Profit Distribution - The company reported a profit distribution plan based on a base of 235,756,000, proposing a cash dividend of 0.35 yuan per 10 shares (including tax) with no bonus shares[4]. - The company reported a cash dividend of 0.35 yuan per 10 shares, totaling 8,251,460 yuan, which represents 100% of the distributable profit[141]. - The total distributable profit available for shareholders at the end of the period was 122,047,887.42 yuan, after accounting for a legal surplus reserve of 1,123,295.35 yuan[141]. - The company follows a profit distribution policy that emphasizes reasonable returns to investors while considering sustainable development, with a cash dividend policy of at least 35% of the distributable profit[136]. - The company has a stable profit distribution policy, with cash dividends being the primary method of profit distribution[136]. Operational Efficiency - The company has implemented a unified management approach to reduce costs and improve management efficiency, thereby enhancing profitability[43]. - The company has established a comprehensive internal management and control system to enhance governance and operational efficiency[91]. - The company has a dedicated financial department that operates independently, ensuring compliance with financial regulations and independent tax obligations[96]. - The company has a strong emphasis on research and development in forestry technology, aiming to enhance productivity and sustainability[110]. - The management team is composed of experienced individuals with diverse expertise, which is expected to drive the company's growth strategy[106][107]. Environmental and Social Responsibility - The company operates in the forestry industry, which is crucial for ecological protection and sustainable development, with increasing government support and regulations enhancing the industry's prospects[33]. - The company has implemented a rural revitalization plan, including ecological assistance through bamboo forest carbon sink cooperation covering approximately 240,000 acres[154]. - The company emphasizes social responsibility, actively participating in public welfare activities and promoting environmental protection initiatives[153]. - The company adheres to FSC forest certification principles to ensure sustainable forest management and product quality[152]. - The company provided assistance to 5 impoverished households, totaling 0.42 million yuan in production materials and support[155]. Governance and Compliance - The company maintains a governance structure that respects and protects the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[151]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a fair and transparent selection process[92]. - The company has established specialized committees within the board, including strategy, nomination, compensation, and audit committees, to enhance governance[92]. - The company has not reported any dissenting opinions from the board members during the reporting period[124]. - The company strictly adhered to relevant laws and regulations, ensuring effective decision-making and protecting the rights of investors[126]. Risks and Challenges - The company is facing risks from unfavorable forestry policies and potential declines in timber prices due to macroeconomic conditions[85]. - The company intends to focus on sustainable and intensive management of forests to mitigate disaster risks and improve resource quality[87]. - The company will seek opportunities for resource acquisitions to expand its operational scale in response to potential declines in timber prices[87]. Employee Management - The total number of employees at the end of the reporting period was 251, with 114 in the parent company and 137 in major subsidiaries[133]. - The company has a training plan aimed at enhancing employee skills and quality, aligning with annual business objectives and departmental needs[135]. - The company employs a salary management system that links compensation to performance, ensuring fairness and efficiency[134]. - The professional composition includes 111 production personnel, 18 sales personnel, 68 technical personnel, 13 financial personnel, and 41 administrative personnel[133].