fufeng group ltd-spon adr (FFNGY) Key Developments
Fufeng Group Limited Proposes Final Dividend, Payable on or About June 5, 2015; Reports Consolidated Earnings Results for the Year Ended December 31, 2014
Mar 24 15
The Board of Fufeng Group Limited, at a meeting held on March 24, 2015, proposed a final dividend of RMB 73,536,000 against RMB 65,925,000 a year ago, representing 3.49 cents against 3.16 cents per share a year ago from share premium account. This proposed dividend is not reflected as a dividend payable in these financial statements, but will be reflected as an appropriation of share premium for the year ending December 31, 2015. The final dividend will be payable on or about June 5, 2015 to shareholders whose names appear on the register of members of the company on May 26, 2015. The dividend is subject to shareholders approval at the annual general meeting.
The company reported consolidated earnings results for the year ended December 31, 2014. Overall revenue remained relatively stable at RMB 11,297.7 million against RMB 11,366.7 million last year. The slight decrease in revenue was primarily caused by the decrease in the average selling price of xanthan gum, although sales volume of xanthan gum increased, and slight decrease in the sales volume of MSG. Operating profit was RMB 1,120.4 million against RMB 925 million last year. Profit before income tax was RMB 774.2 million against RMB 634.7 million last year. Profit for the year and attributable to the shareholders was RMB 626.4 million or 28.67 cents per diluted share against RMB 503.1 million or 22.07 cents per diluted share last year. Capital expenditure was RMB 2,362.7 million against RMB 1,180.2 million last year. Return on equity was 11.7% against 10.5% last year.
Fufeng Group Limited to Report Fiscal Year 2014 Results on Mar 24, 2015
Mar 10 15
Fufeng Group Limited announced that they will report fiscal year 2014 results on Mar 24, 2015
Fufeng Group Limited, Board Meeting, Mar 24, 2015
Mar 10 15
Fufeng Group Limited, Board Meeting, Mar 24, 2015. Agenda: To approve the annual results of the company and its subsidiaries for the year ended 31 December 2014 for publication and; and to consider the recommendation on the payment of final dividends of the company (if any).
Fufeng Group Limited Appoints Chan Yick Kei, Terry as Chief Financial Officer, Effective from 23 January 2015
Jan 23 15
The board of directors of Fufeng Group Limited announced that, Mr. Chan Yick Kei, Terry has been appointed as the chief financial officer of the company with effect from 23 January 2015. In his role as the CFO, Mr. Chan would be responsible for matters relating to corporate finance, capital markets, investor relations, corporate development and assists in strategic planning, as well as other financial management duties. Mr. Chan has over 14 years of corporate finance and M&A experience. Prior to joining he was a director and head of consumer and retail sector, Asia at Deutsche Bank and before that he was a Vice President at the investment banking department of Credit Suisse.
Fufeng Group Limited Announces Executive Changes
Dec 18 14
The board of directors of Fufeng Group Limited announced that Mr. Chen Yuan tendered to the Board on 18 December 2014 and the Board accepted on the same date, his resignation as executive director and chief financial officer of the Company, effective from 1 January 2015 for the reason that he wants to pursue other career interests. The Company is conducting a search for a new chief financial officer of the Company and as an interim measure, Mr. Li Xuechun, a Director, and Mr. Lee Wai Yin, the qualified accountant and company secretary of the Company, will be overseeing the responsibility currently borne by Mr. Chen until the appointment of such final chief financial officer candidate.