Fujian Sannong Group Co., Ltd.

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Fujian Sannong Group Co., Ltd. grew out of Sanming Agricultural Chemical Plant of Fujian, which was founded in 1959 and moved to Sanming from Xiamen in 1965. Transformed into a standardized joint-stock enterprise in Dec. 1992, and approved by China National Securities Supervision & Management Committee, our company issued RMB40 million common share to the public in June 1997, which was offered in Shenzhen Security Exchange on July 4th, 1997. We were the first listed company in chemical industry in Fujian. The total capital stock of our company is 198.4694 million shares, with 115.297 million circulation shares.

Since the implementation of reform and open-door policy, our company has made much improvements by firmly seizing the right time and developed into a diversified and trans-regional group enterprise, integrating production, marketing, research and trade together. Our company has strong technical capability and standardized management system. We are the biggest farm chemical manufacturer in Fujian and one of the largest farm chemical exporters in China. After we became a listed company, our assets scale has been growing rapidly through assets recomposition, acquisition and merger. The business scope includes farm chemicals, pharmaceuticals and food. In June 30th, 1999, our total assets of the Group has reached 1.3 billion RMB, with fixed assets of 0.46 billion RMB, net assets of 0.26 billion RMB.

Our company has gone through three stages of development. In the first stage, from 1959 to 1986, we developed from a pesticide processing factory to a synthesizing factory. In the second stage, from 1987 to 1992, by summing up the experience of over 20 years' hard work, we put forward the enterprise spirit of "Be united, practical, creative and enterprising". By adopting strategic adjustment of "two transforms and one integration", we tripled the output value in 1995, achieving 5-Year Plan ahead of schedule and making profit and tax of RMB 59.102 million. The third stage is from 1992 to present. By changing into a share-issuing enterprise and taking the advantage of a listed company in financing and management, we have explored new ways of enterprise management and developed rapidly in production and trade, making profit and tax of RMB 169.4029 million.

In the process of reform, we were honored with the titles of "Civilized Unit" and "Model Enterprise" by Fujian Provincial Government. We have creatively invented "overall market-oriented management", which has been widely promoted in petrochemical industry in Fujian.

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