FUJIAN JINSEN(002679)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was ¥174,084,409.11, a decrease of 8.32% compared to ¥189,886,506.97 in 2021[6]. - The net profit attributable to shareholders for 2022 was ¥10,191,971.61, down 21.18% from ¥12,931,352.95 in 2021[6]. - The basic earnings per share for 2022 was ¥0.04, a decrease of 20.00% from ¥0.05 in 2021[6]. - The company's total revenue for the reporting period was approximately 174.08 million yuan, a year-on-year decrease of 8.32%, with a net profit attributable to the parent company of approximately 10.19 million yuan, down 21.18% year-on-year[46]. - Revenue from forestry decreased by 10.43% to ¥167,187,024.11, accounting for 96.04% of total revenue[49]. - Revenue from forestry technology services increased by 147.11% to ¥6,044,882.63, representing 3.47% of total revenue[49]. - The company's gross profit margin for forestry was 53.84%, down from 64.25% in the previous year[51]. - The company reported a net decrease in cash and cash equivalents of ¥-129,175,088.57, a decline of 188.07% compared to the previous year[58]. - The company reported a net profit of CNY 8,474,322.42 for the year 2022, with a distributable profit of CNY 7,626,890.18 after a 10% legal surplus reserve allocation[126]. Cash Flow and Assets - The net cash flow from operating activities was negative at ¥44,742,816.65, a decline of 153.89% compared to ¥83,030,411.44 in 2021[6]. - Cash and cash equivalents decreased by 53.01% to ¥114,501,945.76 compared to the end of the previous year, primarily due to payments for timber assets and fixed assets[59]. - Accounts receivable increased by 93.24% to ¥151,893,021.29 compared to the end of the previous year, with the company actively pursuing collection of outstanding payments[59]. - The company's total assets at the end of 2022 were ¥1,918,150,551.91, a slight increase of 0.23% from ¥1,913,704,431.03 at the end of 2021[24]. - The company's total liabilities increased, with long-term borrowings rising by 2.64% to ¥754,507,436.32 compared to the previous year[67]. Dividend and Profit Distribution - The company reported a profit distribution plan based on a total of 235,756,000 shares, proposing a cash dividend of 0.43 CNY per 10 shares (including tax) with no bonus shares issued[3]. - The total cash dividend amount distributed to shareholders was CNY 10,137,508.00, which represents 100% of the total profit distribution[126]. - The company follows a profit distribution policy that mandates a minimum of 35% of the distributable profit to be allocated as cash dividends, unless significant investment plans arise[123]. - The company plans to distribute cash dividends not less than 35% of the distributable profits for the year[143]. Business Operations - The company has maintained its main business operations, which include forest management, afforestation, and the sale of wood and bamboo products, with no significant changes reported[22]. - The company operates on nearly 800,000 acres of forest resources with a timber stock of 7.34 million cubic meters, making it the largest certified timber stock in southern collective forest areas[36]. - In the reporting period, the company completed a timber production area of 24,479 acres, with a yield of 144,400 cubic meters, and planted a total of 8,641 acres of trees[46]. - The company has maintained a strong focus on carbon sink projects, contributing to national carbon neutrality goals and exploring new profit growth points in forestry technology services[37]. Management and Governance - The board of directors consists of 9 members, including 3 independent directors, and operates under strict legal and regulatory frameworks[87]. - The company maintains complete independence from its controlling shareholders in terms of business, personnel, assets, and finance, ensuring autonomous operations[89]. - The company has established a comprehensive and independent financial accounting system, with its own bank accounts and tax obligations[90]. - The company has a structured approach to profit distribution, requiring board approval for any changes to the established policy[125]. - The company has a total of 12 board members, including independent directors, with no reported shareholding changes during the period[94]. Risks and Future Plans - Risks identified include macroeconomic risks affecting timber demand and prices, forestry policy risks, and challenges in new business expansions[79][80]. - The company plans to enhance forest cultivation and increase forest productivity, aiming for a transition from timber production to diversified high-efficiency models[78]. - For 2023, the company will focus on timber production and sales while expanding carbon sink and forestry technology services to increase profit growth points[78]. Social Responsibility and Community Engagement - The company provided employment opportunities that could increase villagers' labor income by approximately 30 million yuan in 2022[137]. - A total of 174.1 million yuan was allocated for infrastructure support and assistance to 120 villages[138]. - The company established a scholarship fund, distributing over 250,000 yuan to more than 221 impoverished college students in 2022[138]. - The company plans to continue its rural revitalization efforts in 2023, focusing on ecological, employment, and project assistance[139].