15 Executives In 2018 Paid 6 Million 80 Thousand Of New Feng Ming To Increase Dividends, This Year'S Revenue Or Over 37 Billion

The Limited by Share Ltd of the new polyester filament group, the new Feng Ming Group (Limited by Share Ltd), disclosed the profit distribution plan in 2018 on the evening of February 15th. The company intends to distribute cash dividends to 1.80 yuan (including tax) for every 10 shares of the shareholders. It is expected to distribute a cash dividend of 153 million yuan, and add 4 shares to all shareholders every 10 shares, and is expected to increase 340 million shares. Because the company is currently in the period of convertible bond, the total amount of actual cash dividends and the number of additional shares will be determined on the basis of the total share capital of the stock registration day. However, the profit distribution plan still needs to be considered and approved by the shareholders' meeting.

The first textile network has reported that in 2018, the new revenue reached 32 billion 659 million yuan, an increase of 42.22% over the same period last year. Net profit attributable to shareholders of the parent company was 1 billion 423 million yuan, a decrease of 4.91% over the same period last year; earnings per share were 1.69 yuan, down 16.75% compared to the same period last year; after deducting non recurring gains and losses, earnings per share were 1.62 yuan, down 16.92% from the same period last year; the weighted average net assets yield was 19.24%, down by 9.80 percentage points compared with the same period last year.

Zhang Mingye, an analyst with Dongxing securities, said that although the business performance of new Feng Ming in 2018 has declined slightly compared with 2017, the new Phoenix business has been running well and the company's book funds are sufficient. In the meantime, it has pferred 4 shares to every shareholder in the capital reserve fund while the investors have paid dividends, and another 1 billion 500 million funds have been used to manage the money. This dividend sharing takes into account the immediate and long-term interests of shareholders. It reflects the company's healthy assets and liabilities and reflects the company's confidence in expanding the scale of operation in the future.

The market participants said that the production capacity of polyester filament in 2019 is still expanding, but the main release of new production capacity is concentrated in the second half of the year, and some production capacity will be postponed under the background of economic downturn. We expect the growth rate of polyester filament will be around 7%.

In the short term, the downstream factories will gradually resume production after the Spring Festival, and the demand for filaments is expected to increase.

At present, the production capacity of polyester filament is 3 million 700 thousand tons, the domestic market share is close to 10%, and the new polyester and spinning equipment is advanced and highly automated.

Aforementioned Dongxing securities analyst Zhang Mingye believes that influenced by the macroeconomic trend and the international political pattern, the textile and garment terminal weaving and polyester filament industry in 2019 has declined, or higher than the 2018 high point. It is estimated that the demand for polyester filament in 2019 will still maintain a positive growth, but the growth rate will be significantly weakened. It is estimated that the annual demand growth rate will be around 5%, corresponding to the new demand of nearly 1 million 600 thousand tons.

As the second leading industries in polyester filament industry, Xin Feng Ming has obvious advantages in scale and technology.

In the future, as the advanced filament production lines such as Zhongyue chemical fiber, Zhongxin chemical fiber and Zhongyi chemical fiber have been put into operation one after another, the leading position of the industry will be consolidated, and the leading position of the company will be further consolidated. It is estimated that the business income of new Feng Ming in 2019 will reach 37 billion 255 million yuan, 46 billion 955 million yuan and 52 billion 884 million yuan respectively in -2021, and the net profit attributable to the shareholders of the listed companies is 2 billion 162 million yuan, 3 billion 357 million yuan and 4 billion 34 million yuan respectively.