fufeng group ltd-spon adr (FFNGY) Key Developments
Fufeng Group Limited Announces the Partial Redemption of Senior Notes Due 2016
May 15 15
Fufeng Group Limited announces that it has informed the trustee and holders of the notes that an aggregate principal amount of $100,000,000 of outstanding notes will be redeemed on June 16, 2015, at a redemption price equal to 101.90625% of the principal amount thereof, plus accrued and unpaid interest, if any, on such Notes to (but not including) the redemption date.
Fufeng Group Limited Proposes Final Dividend for the Year Ended December 31, 2014
Apr 14 15
Fufeng Group Limited proposed a final dividend of HKD 4.4 cents per share of the Company for the year ended December 31, 2014, at the Annual General Meeting to be held on May 15, 2015.
Fufeng Group Limited Reports Audited Consolidated Cash Flows Results for the Year Ended December 31, 2014
Apr 14 15
Fufeng Group Limited reported audited consolidated cash flows results for the year ended December 31, 2014. For the year, the company's net cash flows generated from operating activities was RMB 1,641,726,000 compared to RMB 1,038,529,000 a year ago. Purchases of property, plant and equipment was RMB 1,168,776,000 compared to RMB 1,219,848,000 a year ago. Purchases of intangible assets was RMB 3,611,000 compared to RMB 1,482,000 a year ago.
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, Annual General Meeting, May 15, 2015
Mar 24 15
Fufeng Group Limited, Annual General Meeting, May 15, 2015., at 09:30 China Standard Time. Location: Boardroom 6, M/F, Renaissance Harbour View Hotel Hong Kong. Agenda: To receive, consider and adopt the audited consolidated financial statements of the company and its subsidiaries and the reports of the directors and auditor for the year ended 31 December 2014; to approve the final dividend of 4.4 Hong Kong cents per share for the year ended 31 December 2014; to consider re-election of directors and to authorise the directors to fix the remuneration of the re-elected directors; to re-appoint PricewaterhouseCoopers as auditor of the company and to authorise the board of directors to fix its remuneration; to grant a general mandate to the directors to issue shares of the company; to grant a general mandate to the directors to repurchase shares of the company; and to extend the general mandate to issue shares by adding repurchased shares thereto.