The company is headquartered in Guangzhou Science City, with more than 30 subsidiaries (grandsons), with R & D and production bases in South Asia, North America, Europe and other overseas regions, at present, Guangzhou, Shanghai, Mianyang, Sichuan, the three major production bases with an annual production capacity of 400,000 tons of modified plastics, the company has been registered "KK" in more than 20 countries in the U.S., Canada, Japan, Malaysia, Thailand, Mexico, India, South Korea and so on. The company has registered the trademark "Kingfa" in more than 20 countries, such as the United States, Canada, Japan, Malaysia, Thailand, Mexico, India, South Korea and so on. Kingfa's materials have been exported to more than 130 countries and regions around the world for their environmental friendliness and excellent performance, and have provided services for more than 1,000 famous enterprises around the world.
Directors: Yuan Zhimin? Nanjing Li ? Mr. Ning Hongtao Mr. Cai Tongmin Chen Yi ? Xiong Haitao Li Jianjun
Independent Directors: Chen Shu Zhang Mingqiu Qi Jianguo Lu Xin
Plastic granules manufacturing;
Primary forms of plastics and synthetic resins manufacturing (except for monitoring of chemicals, hazardous chemicals);
Degradable plastics manufacturing;
New materials technology consulting, exchange services; investment in the enterprise's own funds; logistics agency services. Material science research, technology development; electronic equipment recycling technology consulting services;
Wholesale of metal products; wholesale of chemical products (except hazardous chemicals);
Office machinery manufacturing; import and export of goods (except for special-purpose special-control commodities);
Import and export of technology; site leasing (excluding warehousing);
Real estate development; other warehousing industries (excluding crude oil, refined oil storage, gas storage, dangerous goods storage); property management;
Biodegradable Plastic Products Manufacturing;
Warehousing Agency Services;
New Material Technology Development Services; Wholesale Trade in Goods (except licensed goods);
New Material Technology Transfer Services; New Material Technology Promotion Services;
Daily chemical special equipment manufacturing;
Foam manufacturing;
Recycling and wholesale of recycled materials;
(Projects subject to approval in accordance with the law, approved by the relevant departments before carrying out business activities)
2016 is the "13th Five-Year Plan" opening year, in the face of overcapacity, structural adjustment and economic growth. In the face of the difficulties and challenges of overcapacity, structural adjustment and economic downturn, the company, under the leadership of the board of directors, is determined to rise to the challenge, centering on the general idea of "customer focus, collaborative innovation and development by leaps and bounds", and taking "market as the leader and technology as the core" as the action program. With the overall idea of "focusing on customers, collaborative innovation and leapfrog development", the program of action of "market as the leader and technology as the core", the improvement of internal management, the optimization of the assessment and incentive methods, the talent protection and information management as the basis, we strive to complete the company's 2016 business objectives, and achieve the sales of finished products (including trade goods) of 1,669,900 tons in the whole year, a year-on-year increase of 22.52%, and maintain a steady development trend.
Blonde Gold has three core advantages in the field of automotive materials, one has a more complete product system in the industry; the second is basically with all the world's mainstream automobile OEMs and core tier-1 suppliers have business contacts, industry coverage is broader; third is Blonde Gold in the field of modified plastics is the domestic leader and the world's third material manufacturers with joint simulation and analysis technology, with forward design of application technology development capability.
Jinfa Science and Technology will take advantage of these three core advantages to expand its market share and accelerate its internationalization through all-round cooperation with OEMs and core tier-1 suppliers in the industry.
Internationalization Layout
The company has gradually prepared to build R&D and supply platforms in the United States, Europe and other places to build an international platform corridor, and formed a localized business team, technical support team and operation team. In addition to platform construction, Jinfa will leverage the resources of its customers scattered around the world to promote the Jinfa brand globally through deeper cooperation.
Supply chain type of finance
? In 2016, the Jinfa large business in accordance with the "seize the middle (e-commerce), expand the two ends (finance, logistics)" of the idea of steady operation, has initially formed a network of four platforms on-line and off-line virtuous cycle, and has a certain industry influence. 2016 May, plasticization e-commerce trading platform "Easy Plastic Home" was officially launched, mainly engaged in the supply chain of the company's products. "It is mainly engaged in products related to the plasticizing industry, covering plastics, auxiliaries, synthetic rubber and plastic machinery, etc. After 7 months of operation, E-Plastic has become a leading enterprise in the plasticizing industry. After 7 months of operation, E-Plasticizer has already realized a gross merchandise volume (GMV) of 2.8 billion yuan. In the supply chain financial sector, Jinfa Dashang has improved its financial structure through the establishment of Jinfa Dashang (Zhuhai) Commercial Factoring Co., Ltd. and enhanced its risk management level by cooperating with insurance companies, credit information organizations and traditional banks and constructing an internal risk assessment system, serving more than a hundred of small and medium-sized customers in the industry. In the logistics sector, through the layout of national warehouses, supply chain financial platform and e-commerce platform transactions and data support, Jinfa Dashang builds and improves the warehousing and logistics service network, and has initially realized the logistics aggregation information service in the plastic industry. At present, JDF DaShang takes Guangzhou and Kunshan delivery warehouses as the base point and integrates hundreds of domestic plastics specialized warehouses, covering the major plastics distribution, production and consumption areas in East China, South China and North China. During the reporting period, the revenue from self-operated, supply chain finance, warehousing and logistics, and membership fees of Jinfa Dashang's e-commerce platform totaled nearly 30 million yuan in gross profit.
Key operating conditions
During the reporting period, the company achieved operating revenue of RMB17.991 billion; operating profit of RMB684 million, up 16.03% year-on-year; net profit attributable to shareholders of listed companies of RMB737 million, up 3.51% year-on-year; basic EPS of RMB0.2880, up 3.60% year-on-year; and after extraordinary gains and losses Weighted average return on net assets was 6.77%. Net cash flow from operating activities amounted to 781 million yuan; the company's total assets amounted to 20.259 billion yuan, total liabilities amounted to 10.534 billion yuan, total equity attributable to the parent company amounted to 9.651 billion yuan, and the gearing ratio (parent company data) was 47.94%.
Core Competitiveness
(I) Scientific and Technological Innovation
1. First-class scientific research and development system
2. Strong scientific research and development team
3. Innovative scientific and technological talent incentive mechanism
4. Fruitful research and development results
(II) Business Mode
1. Global synergistic marketing network
2.
2, upstream and downstream linked **** enjoyment platform
3, big data-based customer demand deep mining
(C) Operations Management
1, advanced information support platform:
2, strong supply chain management capabilities:
Fourth, the company's future development
(A) Industry patterns and trends.
In recent years, the domestic modified plastics industry has been developing rapidly, and the average annual growth of production and apparent consumption has reached 20% and 15% respectively.
Modified plastics are widely used, mainly in the automotive industry, home appliance industry, electrical and electronic industry, the construction industry and the medical industry, and many other industries, with the "plastic instead of steel" and "automotive lightweight, home appliances, lightweight and fashionable," the trend of the "new urbanization," the influence of the "new urbanization" and the "new urbanization" and the "new urbanization". With the influence of "plastic instead of steel" and "automotive lightweight, home appliances thin and fashionable" and other trends, "new urbanization", "building a beautiful China" and other policies are gradually implemented, the industry's applications will be further expanded, enterprise technology upgrades and innovation and product structure optimization and adjustment, for the industry to bring broad prospects for development.
? With its own more than twenty years of experience in the development of modified plastics and the accumulation of technology, with the help of its own diversified product range, a wealth of experience in the application of materials and superior product services, Jinfa Science and Technology has been committed to providing customers with a total solution, and continue to open up the mid-range and high-end market and imported products to replace, to provide cost-effective, quality and stable, fast delivery of the product, and continue to seize the multinationals of the market share.
(ii) Company development strategy.
The company has formulated the development strategy of "strengthening the middle, expanding the two ends, technology leadership, leapfrog development", and vigorously develop the modified plastics, fully biodegradable plastics, special engineering plastics, high-performance carbon fibers and composite materials and environmentally friendly high-performance recycled plastics five categories of new materials, and after 10 years of development, to become the world's leading chemical new materials enterprise by 2025. After 10 years of development, by 2025, the company will become a global leading enterprise of new chemical materials, and at the same time provide guarantee and support for the national strategic materials.
Specific measures include: building a "13551" R&D system based on global synergy (1 central research institute, 3 regional R&D centers, 5 sub-technology centers, 5 incubation bases for new chemical materials, and 1 industry-academia-research collaborative innovation center); further improving the international layout of the company, which is based on the U.S., Europe, and India; and establishing a global network of new chemical materials companies, with the U.S., Europe, and India as the pivots. internationalization layout with US Jinfa, Europe Jinfa and India Jinfa as the fulcrum; establish a global synergistic work system and build a management system based on business leadership model, etc.
(iii) Business plan.
In 2017, the Company will focus on the management theme of "value-added customers, synergistic efficiency, profitability and activation of cadres", take management improvement and introduction of high-end talents as the key, and take the innovation system, efficiency evaluation system and informationization platform as the guarantee to ensure that the 2017 business objectives are achieved. In terms of marketing, we will strengthen the leading role of marketing and improve the marketing management system. With the guiding principle of "strengthening the industry and cultivating the region", we will establish business opportunity management and customer management system through CRM to optimize the customer management system and achieve the business goal of value-added customers. In terms of technology, we will improve the core layout of technology. Through the product classification management to create a competitive product layout; build IPD R & D management platform, strengthen the technology R & D project management, so as to achieve "specialization"; in terms of internal operations, we should carry out refined management, improve the organization's ability to synergize, and advocate vigorously soliciting the top talent, cultivating high-end technical talent, technical marketing talent and industry leading talent. Talents and industry leaders. Activate cadres and encourage bold newcomers.
(D) Risks that may be faced.
1. Rising raw material prices.
The continuous rise in the price of resin raw materials from the second half of 2016, while downstream customers lagged behind in the price increase of products, bringing great pressure on the company's costs and affecting the company's profits.
The price of resin raw materials is affected by the fluctuation of international crude oil prices, and there is a great deal of uncertainty in the future.
In 2017, the company responded to the fluctuation of raw material prices in a timely manner through the pricing management mechanism.
2. Exchange rate risk.
The company currently has three overseas subsidiaries, India Jinfa, the United States Jinfa and Europe Jinfa. As the company's globalization process increases, the proportion of overseas revenue in the company's revenue is increasing. At the same time, the domestic company imported raw materials in the proportion of raw material procurement between 40% -45%, so changes in foreign exchange rates on the company's operating costs and operating income to bring a certain impact. For this reason, the company utilizes the Hong Kong Goldfarb platform in an effort to reduce the impact of exchange rate fluctuations on the company's performance. In addition, the company pays close attention to and studies the development of the foreign exchange market, selects the most favorable currency and settlement method of payment for goods, and protects the company's operating results.
3. The risk of increased product competition.
The international large companies in the upstream and downstream layout, low cost, leading technology; domestic modified plastics production enterprises, the long-term existence of a large number of small enterprises, price competition as the main force, the overall pull down the profitability of the industry as a whole. In addition, the company according to their own development needs, vigorously expand the application of products, vigorously promote the development of globalization, and subsequently enter new countries, new markets, new industries, and this will also lead to the intensification of competition.
As the company's product line is enriched and new products continue to emerge, the application of products continues to expand, the company is facing different product requirements in many countries and industries, which will inevitably lead to the rise of the company's product compliance risk, the company has set up a special team to deal with product laws and regulations, patent protection and product certification and other aspects of the risk management.
Blonde Gold Technology recently announced that the reorganization failed, the information shows that the company suspended in early January this year to plan a major asset reorganization so far, has been more than four months time. Although the suspension time is longer, but the reorganization failed to finally come to fruition. In addition, jinfa science and technology recently disclosed a quarterly report shows the performance is almost cut, net profit also two consecutive quarters of a sharp decline, deductible net profit decline of nearly 70%. In addition, the quarterly gross profit margin of only 13.07%, a six-year low.
Subsidiary to introduce related parties to cooperate with blonde gold science and technology was questioned
blonde gold science and technology recently disclosed "on foreign investment and related transactions of the announcement" and the relevant supplemental announcement that the company will be wholly owned subsidiary of the wuhan jinfa science and technology industry limited company (hereinafter referred to as "wuhan industry") all adjusted to the debt of investment, but enjoy the main assets of a major asset of wuhan industry. (hereinafter referred to as "Wuhan Industrial"), but enjoys the value-added amount of a piece of construction land (hereinafter referred to as "Project Land"), which is the main asset of Wuhan Industrial, amounting to RMB 49.97 million. The company's investment in the project land value-added amount and other capital, and related party Guangdong Yue Shang High-tech Co.
The regulator issued an exchange inquiry letter, questioning whether the pricing of the related transaction is fair and reasonable, and whether there is any transfer of benefits to the related party.