Fujian Jinsen Forestry Co., Ltd. (Stock Code: 002679), as an important participant in the domestic forestry industry, has been committed to forest cultivation, maintenance, and timber production and sales. The company is located in one of the important production areas of Chinese fir timber in the country, Fujian (Minbei), with abundant forest resources and advanced forestry technology. The company actively promotes green ecological construction.
In terms of assets and liabilities, Fujian Jinsen had a total assets of 2.05 billion yuan at the end of 2023, an increase of 6.87% compared to 1.918 billion yuan at the end of 2022. The total liabilities increased from 1.154 billion yuan at the end of 2022 to 1.288 billion yuan at the end of 2023, and the asset-liability ratio increased from 60.18% to 62.85%, indicating that the company's debt level has increased, but it is still within a controllable range. Net assets have slightly decreased, reflecting the company's financial pressure in expanding its scale.
In terms of profit data, Fujian Jinsen's operating income in 2023 was 148 million yuan, a decrease of 15.18% from the same period of the previous year mainly due to changes in market demand and industry environment. Nevertheless, by optimizing cost structure and improving operational efficiency, the company has almost maintained stable operating profit, which only slightly decreased from 97.3 million yuan in the same period of the previous year to 96.2 million yuan. Net income decreased from 101.7 million yuan in the same period of the previous year to 79.9 million yuan, and the net margin also decreased from 5.84% to 5.41%, reflecting a weakened profitability of the company.
In terms of cash flow, the net cash flow from operating activities of Fujian Jinsen in 2023 was 70.01 million yuan, a significant improvement compared to -44.74 million yuan in the same period of the previous year, indicating a significant increase in the cash inflow from the company's operating activities, which is crucial for ensuring the company's daily operation and future development. The changes in the subtotals of cash inflow and cash outflow from operating activities further proves that the company has achieved certain results in increasing income and controlling costs.
In summary, Fujian Jinsen's financial report of 2023 shows that the company has maintained a stable financial situation overall despite the challenges in the market and the industry. The growth of asset size and improvement of cash flow provide a solid foundation for the company's sustainable development. However, the decline in profitability and the increase in debt level also indicate that the company needs to further optimize management and improve efficiency to cope with future risks and challenges.