山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
Stock Code: 200992 Short Form of the Stock: Zhonglu B Public Notice No: 2020-05
Shandong Zhonglu Oceanic Fisheries Company Limited
Summary of Annual Report 2019
I. Important Notice
The summary is abstract from full-text of annual report, for more details of operating results, financial condition and future
development plan of the Company; investors should found in the full-text of annual report that published on media appointed by
CSRC.
Objection statement of directors, supervisors and senior executives
Name Position Content and reason
Statement
Other directors attending the Meeting for annual report deliberation except for the followed
Name of director absent Title for absent director Reasons for absent Attorney
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by the Board in the reporting
period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve.
Profit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period
□ Applicable □ Not applicable
II. Basic information of the company
1. Company profile
Short form of the stock ZHONGLU B Stock code 200992
Stock exchange for listing Shenzhen Stock Exchange
Person/Way to contact Secretary of the Board Rep. of security affairs
Name Li Ming Li Ying
No. 65 Haier Rd., Laoshan District, No. 65 Haier Rd., Laoshan District,
Office add.
Qingdao, Shandong Qingdao, Shandong
Fax. 0532-55719258 0532-55719258
Tel. 0532-55717968 0532-55715968
E-mail zl000992@163.com zl000992@163.com
1
山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
2. Main business or product introduction in the reporting period
The Company is a comprehensive fishery enterprise integrated with ocean-going fishing, ocean refrigerated
transport, and refrigeration, processing and trading of aquatic products, its main businesses involve all major
aspects of the industry chain.
During the reporting period, the company’s main business didn’t make any change. Ocean fishing has still been
the main line while refrigerated transport and refrigeration processing trade were the two wings, and they
supported each other and promoted each other, the industrial chain was relatively complete.
(1) Pelagic fishing
During the reporting period, the Company has owned a total of 23 vessels for ocean-going fishing, including 7
large-scale tuna seiners (units), 14 large ultra-low temperature tuna long liners (the newly constructed tuna
longliner “Tai Xiang 11” was competed in July 2019, its operation has been in good condition, and the investment
effect has begun to show up), and 2 medium-sized trawlers., which have been respectively working in Indian
Ocean and the Garner in Atlantic Ocean. Main fishing species include: thunus obesus, yellowfin tuna, swordfish,
sailfish, albacore tuna and bonito etc.
(2) Refrigerated transport
In reporting period, the refrigerated transport ship of the Company is engaged in the international operation and
services, and has access to major ports around the world, suitable for ocean transportation of aquatic products,
meat, poultry, vegetables and fruits, some ships have ultra-low temperature function, and for the tuna transport
business as well. A new advanced refrigerated transport ship “Xin Mao Chang” with a high degree of automation
and a polar sailing certificate was newly purchased, and the ship has been put into operation in October, and the
investment effect is obvious.
(3) Refrigeration processing trade
In reporting period, main processing products includes 20 species as thunus obesus, yellowfin tuna, bluefin tuna,
albacore, swordfish, red flag fish, black phantom tetra and etc.; products form are applicable to the Japanese
cuisine, EU and Russian market with tuna slices, tuna dice, tuna plate and tuna milk cheese. In domestic market,
we has achieved a sales network integration of wechat-business + E-business + super market business +
sub-warehouse, and sales volume exceeded one hundred million yuan.
3. Main accounting data and financial indexes
(1) Main accounting data and financial indexes for recently three years
Whether it has retroactive adjustment or re-statement on previous accounting data
□ Yes √No
In RMB
Changes over last
2019 2018 2017
year
Operating income (RMB) 1,128,951,902.68 1,023,348,055.53 10.32% 924,116,785.80
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山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
Net profit attributable to
shareholders of the listed 82,311,630.23 90,281,584.29 -8.83% 91,517,485.28
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting 80,410,900.02 88,188,293.14 -8.82% 85,499,842.39
non-recurring gains and losses
(RMB)
Net cash flow arising from
110,296,542.67 69,635,895.65 58.39% 63,205,894.49
operating activities (RMB)
Basic earnings per share
0.31 0.34 -8.82% 0.34
(RMB/Share)
Diluted earnings per share
0.31 0.34 -8.82% 0.34
(RMB/Share)
Weighted average ROE 9.74% 12.06% -2.32% 13.79%
Changes over end of
Year-end of 2019 Year-end of 2018 Year-end of 2017
last year
Total assets (RMB) 1,288,526,843.80 1,213,282,583.68 6.20% 1,065,483,763.80
Net assets attributable to
shareholder of listed company 887,201,969.69 803,507,440.24 10.42% 703,769,793.95
(RMB)
(2) Quarterly main financial index
In RMB
Q1 Q2 Q3 Q4
Operating income 255,046,260.12 260,422,399.02 320,310,591.10 293,172,652.44
Net profit attributable to
shareholders of the listed 5,889,311.73 22,530,782.47 39,690,937.43 14,200,598.60
company
Net profit attributable to
shareholders of the listed
5,698,263.62 22,314,136.84 39,369,970.16 13,028,529.40
company after deducting
non-recurring gains and losses
Net cash flow arising from
8,105,851.14 -12,346,698.44 79,603,826.29 34,933,563.68
operating activities
Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial
index disclosed in the company’s quarterly report and semi-annual report
□Yes √ No
4. Shares and shareholders
(1) Particulars about common stock shareholders, preference shareholders with voting rights recovered
and top ten shareholders
In Share
3
山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
Total
prefere
nce
Total shareho
Total preference
common lders
Total common stock shareholders with
stock with
shareholders at end voting rights
sharehold voting
11,672 of last month before 11,622 0 recovered at end 0
ers in rights
annual report of last month
reporting recover
disclosed before annual
period-en ed at
report disclosed
d end of
reportin
g
period
Top ten shareholders
Number of shares
Proportion Amount
Full name of Nature of pledged/frozen
of shares of shares Amount of restricted shares held
Shareholders shareholder State of
held held Amount
share
Shandong
State-owned
Assets
State-owned 125,731,3
Investment 47.25% 125,731,320
legal person 20
Holding
Company
Limited
Chen Foreign
2.16% 5,760,427
Tianming nature person
Domestic
Cai Yujiu 1.42% 3,766,401
nature person
Haitong
International
Securities Foreign legal
0.80% 2,118,736
Company person
Limited-Acco
unt Client
GUOTAI
JUNAN
Foreign legal
SECURITIES 0.76% 2,014,624
person
(HONGKON
G) LIMITED
4
山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
China
National
Heavy Duty State-owned
0.73% 1,950,000 1,950,000
Truck Group legal person
Jinan Truck
LLC
Shenwan
HongYuan Foreign legal
0.73% 1,939,154
(H.K.) person
Limited
Domestic
Lin Mingyu 0.45% 1,210,001
nature person
Wang Foreign
0.45% 1,205,203
Dongsheng nature person
Foreign
Huang Jiayi 0.39% 1,048,687
nature person
Shandong State-owned Assets Investment has 20% shares of China National Heavy Duty
Truck Group Co., Ltd. (During the reporting period, in addition to enjoying the right of assets
Explanation on associated income, other shareholder’s rights under the 20% state-owned equity of SINO TRUCK are
relationship among the authorized to exercise by Shandong Heavy Industry Group Co., Ltd.), rests of the shareholders
aforesaid shareholders are the domestically listed foreign shareholders, and the Company is unknown whether there
exists associated relationship or belongs to consistent actor regulated by “management method
for acquisition of listed company” among the above said shareholders
Explanation on shareholders
involving margin business (if Not applicable
applicable)
(2) Total preferred stock shareholders of the Company and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
The Company had no shareholders with preferred stock held in the reporting.
(3) Property right and controlling relationships between the actual controllers of the Company and the
Company is as follows:
5
山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
State-owned Assets Supervision and Administration
Commission of Shandong Provincial Government
70%
Shandong State-owned Assets Investment Holding
Company Limited
47.25%
Shandong Zhonglu Oceanic Fisheries Co., Ltd
5. Corporate bonds
Whether or not the Company public offering corporation bonds in stock exchange, which undue or without payment in full at
maturity on the approval date for annual report disclosed
No
III. Discussion and analysis of business
1. Introduction of operation in the reporting period
In reporting period, the Company achieved operating income of 1128.95 million Yuan, increased 10.32%
compared last year’s 1023.35 million Yuan; total profit achieved 101.69 million Yuan, increased 0.18% compared
last year’s 101.51 million Yuan; net profit attributable to parent company amounted as 82.31 million Yuan,
decreased 8.83% compared last year’s 90.28 million Yuan. Total assets amounted as 1288.53 million Yuan with
6.20% growth compared balance at period-begin.
(1) Pelagic fishing: For the tuna seine fishing business, the company’s 7 groups of tuna seiners in this period have
been in good condition and the fishing output has reached the expected target. Through scientific management and
application of advanced technology equipment such as remote monitoring of electric buoys and artificial nets, at
present, the output of ships is at the leading level in the Atlantic fishing area. The tuna longline fishing business
strive to overcome the unsatisfactory situations of Japanese tuna market saturation, oversupply of international
fish supply and continued falling prices, grasped the main business, focused on production and fishing, took party
building as the guide, took safety as guarantee, took innovation and efficiency as targets, and took the road of
sustainable development, opened a new fishing ground for tuna long-lining, the fishing output is good and has
broken the historical peak, the construction project of “Tai Xiang 11” was successfully completed and put into
production. During the reporting period, the pelagic fishing sector achieved an operating income of 481.29 million
6
山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
Yuan with 23.93% up on a y-o-y basis; the total profit counted as 81.87 million Yuan, a 42.38% growth from a
year earlier.
(2) Refrigerated transport: Continued to implement standardized management, strengthened innovative
development models, intensified team building, enhanced the vitality of enterprise development, strengthened
cultural construction, enhanced the soft power of enterprise development, paid close attention to safe production
and operation, strengthened ship management, and improved the sailing rate of ships to ensure the ship operating
rate. A new transport ship “Xin Mao Chang” was purchased and put into production and operation smoothly in the
second half of the year, which accelerated the company’s transformation and upgrading and provided momentum
for sustainable and high-quality development. During the reporting period, achieved an operating income of
101.34 million Yuan with 8.19% up on a y-o-y basis; the total profit counted as 32.49 million Yuan, a 4.54%
growth from a year earlier.
(3) Cold storage processing trade: Under the multiple pressures of the weak domestic and foreign tuna markets,
falling prices, and destocking to prevent risks, the company took “upgrade, update, destocking, and risk
reduction” as management theme, and fully implemented “addition, subtraction, multiplication, and division”
methods, cultivated new growth points, worked together to destock, built network sales platforms, and improved
product returns. During the reporting period, achieved an operating income of 672.61 million Yuan with 6.05% up
on a y-o-y basis; the total profit counted as 7.51 million Yuan, a 71.27% declined from a year earlier.
2. Whether the main business had major change in the reporting period
□ Yes √ No
3. About the industries, products, or regions accounting for over 10% of the company’s operating income
or operating profit
√Applicable □Not applicable
In RMB
Increase/decrea
Increase/decrea Increase/decrea
Operating Gross profit se of gross
Name Operating cost se of operating se of operating
revenue ratio profit ratio
revenue y-o-y cost y-o-y
y-o-y
Deep-sea
478,523,402.07 81,720,358.26 21.61% 23.21% 42.61% 3.07%
fishing
Boat rental 101,340,331.62 32,487,917.17 37.55% 8.19% 4.49% 1.44%
Refrigerated
processing 672,613,037.45 7,575,485.95 5.26% 6.05% -73.79% -4.52%
trade
4. Whether the characteristics of management seasonal or cyclical need special attention
□ Yes √ No
5. In the reporting period, note of major changes in operating income, operating cost, total net profit
attributable to common stock shareholders of listed company or composing the previous reporting period
□ Applicable √ Not applicable
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山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
6. Particular about suspension and termination of listing
□ Applicable √ Not applicable
7. Relevant items involving financial report
(1) Particulars about the changes in aspect of accounting policy, estimates and calculation method
compared with the financial report of last year
√Applicable □Not applicable
1. Changes and basis of accounting policy
(1) The Accounting Standards for Business Enterprise No. 22- Recognition and Measurement of Financial
Instruments, Accounting Standards for Business Enterprise No. 23- Transfer of Financial Assets, Accounting
Standards for Business Enterprise No. 24- Hedge Accounting and Accounting Standards for Business Enterprise
No. 37- Presentation of Financial Instruments ( these four items are collectively referred to as the” new financial
instrument standards”) are revised by the Ministry of Finance in 2017.
The new financial instrument standards divide financial assets into three categories: (1) financial assets measured
at amortized cost; (2) financial assets measured at fair value and whose changes are included in other
comprehensive income; (3) financial assets measured at fair value and their changes are included in the current
profit and loss. Under the new financial instrument standards, the classification of financial assets is determined
based on the Company’s business model for managing financial assets and the contractual cash flow
characteristics of the assets. The new financial instrument standards eliminate three categories specified in the
original financial instrument standards, i.e. held-to-maturity investments, loans and receivables, and
available-for-sale financial assets. The new financial instrument standards replace the “incurred loss” model in the
original financial instrument standards with the “expected credit loss” model. Under the new financial instrument
standards, the Company’s specific accounting policies are described in XII (v) 10.
(2) In April 2019, the Ministry of Finance issued the Notice on Revision and Issuance of 2019 Financial
Statement Format for General Corporate (Cai Kuai [2019] No.6) (hereinafter referred to as “Financial Statement
Format”), the enterprises (that implement the Accounting Standards for Business Enterprise) are required to
preparing the financial statement in accordance with the requirement of the Notice.
The Company implemented the above mentioned revised standards and financial statement format since 1 Jan.
2019, and adjusted relevant contents of the accounting policies.
2. Impact of changes in accounting policies
(1) Impact of implementation of new financial instrument standards
According to the new financial instrument standards, the Company adjusted the classification of financial
instruments on the implementation date of the new financial instrument standards (that is, January 1, 2019), and
reclassified available-for-sale financial assets to other equity instrument investments, the book value was zero,
there’s no need to adjust the original book value of the financial instruments.
(2) Impact of implementation of revised financial statement format
8
山东省中鲁远洋渔业股份有限公司 2019 年年度报告摘要
According to the requirements of the financial statement format, in addition to the presentation changes resulting
from the implementation of the above new financial instrument standards, the Company divided the “notes
receivable and accounts receivable” and presented as two items, i.e. “notes receivable” and “accounts receivable”,
and divided the “notes payable and accounts payable” and presented as two items, i.e. “notes payable” and
“accounts payable”. The Company correspondingly made retroactive adjustment to the comparative period
statements, and the change in accounting policy had no impact on the merger and the company’s net profit and
shareholders’ equity.
(2) Major accounting errors within reporting period that needs retrospective restatement
□ Applicable √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the Company in the period.
(3) Compare with last year’s financial report; explain changes in consolidation statement’s scope
□ Applicable √ Not applicable
No changes in consolidation statement’s scope for the Company in the period.
9
