Important Notice
The Board of Directors and all directors of the company guarantee that the information contained in this report does not have any false records, misleading statements, or major omissions, and bear individual and joint responsibility for the authenticity, accuracy, and completeness of the content. The financial report for the first quarter has not been audited.
Section 1: Company Overview
- Legal Chinese Name: Fujian Jiuzhou Group Co., Ltd.
Abbreviated Chinese Name: Jiuzhou Co., Ltd.
Legal English Name: FUJIAN JIUZHOU GROUP CO., LTD.
Abbreviated English Name: jzgf - Company Registered Address: 8th Floor, No. 62 Lianhua Xiangxiu Li, Xiamen, Fujian Province
Company Office Address: 5th Floor, Huguang Building, Hubin East Road, Xiamen, Fujian Province
Postal Code: 361004
Company Website: www.jzgroup.com.cn - Legal Representative: Liang Jian
- Company Secretary: Lin Xi
Contact Number: 0592-5365688
Fax: 0592-5365613
Email: 535383@sohu.com
Contact Address: 5th Floor, Huguang Building, Hubin East Road, Xiamen, Fujian Province - Designated Information Disclosure Media: HTTP://www.cninfo.com.cn
Designated Information Disclosure Newspaper: Securities Times
Location of Annual Report: Company Secretary's Office - Stock Listing Location: Shenzhen Stock Exchange
Stock Abbreviation: ST Jiuzhou
Stock Code: 000653
Section 2: Review of Operating Conditions
1. Company Operating Conditions During the Reporting Period
During the reporting period, all subsidiaries of the company, except for Longyan Kaolin Company, were basically in a state of suspension. Since November 2001, Fujian Shenghui Textile Investment Group Co., Ltd. has been entrusted to manage the state-owned shares of the company, conducting a comprehensive asset and debt investigation. However, due to the complexity of historical issues and heavy debt burdens, the restructuring work faces significant difficulties. The company is currently formulating a substantial asset restructuring plan, but due to numerous obstacles, it has not yet entered the specific implementation stage. The company currently has a heavy debt burden and substantial financial costs. If a debt settlement cannot be reached with relevant creditors, it will be challenging to achieve profitability by mid-2002. According to the regulations issued by the China Securities Regulatory Commission regarding the suspension and termination of listings for loss-making companies, if the company fails to disclose a profitable mid-2002 report by August 31, 2002, or if it does disclose such a report but fails to apply for resumption of listing within the specified time, or if the application is not accepted or approved by the Shenzhen Stock Exchange, or if the annual report shows a loss, the company's stock will be delisted. The company reminds investors to be aware that if the restructuring fails and the company is delisted, it may face bankruptcy.
2. Major Investment Situation During the Reporting Period
The company had no external investments during the reporting period.
3. Analysis of Operating Results and Financial Condition
(1) Operating Results
- Operating Results Analysis
Unit: RMB 10,000Item 2002.1-3 2001.1-3 Change (%) Main Business Income 1780.48 1684.64 5.69 Main Business Profit 1043.14 902.27 15.61 Net Profit -730.12 157.71
Analysis: The main business profit of the company increased during the reporting period, mainly due to the improved operating conditions of the subsidiary Longyan Kaolin Company, which is expected to see significant growth this year. The company is formulating a substantial asset restructuring plan, but due to numerous obstacles, it has not yet entered the specific implementation stage, resulting in a loss in the first quarter.