How about the prospects of fertilizer demand in the next few years?
At present, the total consumption level of fertilizers has been relatively high and fertilizer demand will keep a stable growth in the future.
银河彩票According to 12th five year plan of fertilizer industry, the average annual growth rate of fertilizer demand in China will be 3% in
the period of 12th five year (2011-2015).
银河彩票How about the potash consumption level in China? How much potash still needs to be imported from overseas market?
银河彩票At present, annual potash consumption in China is maintained at the level of around 10 million tons, among which around 50%
still needs to be imported.
Currently, potash consumption is still kept in a relatively low level. According to the nutrient ratio for crops’ balanced
nutrition, there is still great potential for potash demand to increase in China.
银河彩票How about the agricultural subsidies from China’s government?
In recent years, agricultural subsidies from the central government have been increasing constantly by more than 10% each year. In 2013, agricultural subsidies from the central government are estimated to be RMB 1,379.9 billion, up by 11.39% year on year; and agricultural subsidies from the central government in 2012/2011/2010/2009 amounted to RMB 1,238.77/1,049.77/857.97/725.31 billion, up by 18.00%/22.36%/18.29%/21.79%% year on year respectively.
银河彩票How about the production capacity of Sinofert? And what are the sources of annual sales volume of Sinofert?
银河彩票At present, Sinofert has 7 controlling enterprises and 8 sharing enterprises with total annual production capacity of more than
10 million tons, among which Sinofert’s equity production capacity amounts to around 5.5 million tons.
银河彩票Currently, sales volume of Sinofert is mainly from the following 3 part: 1/3 is from the Sinofert’s equity capacity, 1/3 is from
domestic procurement, and the last 1/3 is from overseas import.
What is the development target of Sinofert’s distribution network in the next 3-5 years?
银河彩票At present, Sinofert has basically finished the construction of distribution network all over the country with more than 2000
distribution centers in China’s major agricultural regions. Next, the Company will put emphasis on the improvement of
operational quality instead of the increase of numbers of distribution center in order to improve the profitability of each distribution center.
银河彩票How about the dividend policy of Sinofert?
银河彩票Apart from the year of 2009 when Sinofert suffered losses due to the market environment, Sinofert has made a dividend payment every year since its listing in 2005, and 15-25% of net profit is usually paid out as dividends in each financial year.