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东方智造(002175) - 2014 Q3 - 季度财报
2014-10-20 16:00
Financial Performance - Total assets increased by 58.56% to CNY 1,047,285,180.61 compared to the end of the previous year[7] - Operating revenue for the period was CNY 54,879,169.17, representing a year-on-year increase of 33.54%[7] - Net profit attributable to shareholders was a loss of CNY 249,630.68, a decrease of 128.87% compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 175,309.93, down 79.40% year-on-year[7] - Cash flow from operating activities increased by 311.30% to CNY 10,434,215.94 year-to-date[7] - Investment income increased significantly by 491.65% to ¥5,484,024.82, mainly due to higher returns from bank wealth management products[15] - The company reported a net cash outflow from investing activities of ¥72,717,277.46, a 52.65% improvement compared to the previous period[16] - The net profit attributable to shareholders for 2014 is expected to be between 21.74 million and 27.18 million RMB, representing a year-on-year increase of 100% to 150% compared to 10.87 million RMB in 2013[42] - The increase in profit is attributed to the additional profits generated from newly consolidated subsidiaries[42] - The expected net profit for 2014 is not classified as a turnaround situation, indicating stable growth[42] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,987[11] - The largest shareholder, Peng Peng, holds 15.09% of the shares, with 21,743,602 shares pledged[11] - The company plans to maintain its shareholder structure stability for at least 12 months post-transaction, ensuring continuity in management and operational policies[28] Corporate Governance and Independence - The company committed to maintaining its independence and avoiding significant related party transactions, ensuring no major transactions with controlling shareholders or related entities[24] - The company guarantees that its management structure, including the general manager and financial director, will not hold dual positions in related entities, ensuring operational independence[25] - The company will not engage in any activities that constitute competition with its existing and future business operations, ensuring a focus on its core competencies[28] - The company has established a commitment to avoid any illegal occupation of its assets and funds, ensuring financial integrity[26] - The company will independently manage its financial operations, including tax obligations and banking activities, to maintain financial autonomy[27] - The company has pledged to adhere to market fairness and transparency in all transactions, ensuring compliance with relevant laws and regulations[23] - The company will ensure that its assets are clearly defined and separated from those of controlling entities, preventing any asset disputes[26] - The company will maintain an independent production and operational system, ensuring that its business activities are not reliant on related parties[26] - The company has committed to avoiding any actions that could harm the interests of its shareholders through related party transactions[23] - The company committed to maintaining independence and avoiding conflicts of interest with related parties[30] - The company ensures that its management and operational systems are independent from any controlling entities[33] - The company guarantees that its financial department operates independently and adheres to relevant accounting standards[34] - The company will avoid any illegal occupation of its assets and will not request guarantees from related parties[30] - The company will ensure that its high-level management personnel do not hold dual positions in other enterprises controlled by the same party[32] - The company will maintain a fair and transparent approach to any unavoidable related transactions[31] - The company has established a commitment to uphold shareholder rights and interests without compromising on legal obligations[31] Future Commitments and Plans - The company has committed to a net profit guarantee for the years 2013 to 2016, with minimum net profits of 17.28 million RMB, 22.30 million RMB, and 26.60 million RMB respectively[37] - The company will not transfer 80% of the shares obtained in the transaction for 12 months and 20% for 36 months from the date of acquisition[37] - The company has issued a commitment letter to avoid competition with similar businesses and ensure fair transactions with related parties[39] - The company’s management has committed to not engage in any competing business activities directly or indirectly[40] - The company’s board of directors is led by Chairman Peng Peng, emphasizing strong leadership during this growth phase[43] - The company has implemented measures to ensure compliance with commitments made to minority shareholders[41] Operational Changes - Accounts receivable increased by 46.85% to ¥110,073,754.46 due to the addition of newly consolidated subsidiaries[15] - Prepayments surged by 353.46% to ¥21,315,710.31 primarily due to increased advance payments for materials[15] - Research and development expenses rose by 113.16% to ¥8,816,498.23 as a result of increased R&D projects[15] - Sales expenses rose by 53.25% to ¥11,119,949.68, attributed to the integration of newly consolidated subsidiaries[15] - Long-term borrowings increased by 66.67% to ¥50,000,000.00, reflecting the company's strategy to secure additional financing[15] Legal and Compliance - The company reported no ongoing or foreseeable major litigation, arbitration, or administrative penalties that could adversely affect its assets[35] - The company pledged to prevent any mutual fund occupation between itself and related enterprises[36] - The company will not increase its shareholding in the next 12 months and will not seek to become the largest shareholder[36] - The company does not have any securities investments during the reporting period[43]
东方智造(002175) - 2014 Q2 - 季度财报
2014-08-26 16:00
Financial Performance - The company's operating revenue for the first half of 2014 was ¥109,284,847.32, representing a 23.62% increase compared to ¥88,406,500.53 in the same period last year[20] - The net profit attributable to shareholders of the listed company was ¥9,464,140.81, a 54.76% increase from ¥6,115,516.25 year-on-year[20] - The net profit after deducting non-recurring gains and losses was ¥8,404,814.65, up 65.35% from ¥5,082,926.73 in the previous year[20] - The total profit amounted to CNY 11,893,177.03, reflecting a year-on-year increase of 71.22%[28] - The company achieved operating revenue of CNY 109,284,847.32, representing a year-on-year growth of 23.62%[28] - The net profit for the first half of 2014 was CNY 6,391,986.81, an increase of 17.1% compared to CNY 5,456,304.15 in the same period of 2013[141] - The company reported a total profit of CNY 7,820,821.54, an increase of 22.1% from CNY 6,401,408.45 in the previous year[141] Cash Flow and Assets - The net cash flow from operating activities reached ¥5,258,576.09, a significant increase of 752.55% compared to a negative cash flow of ¥805,856.39 in the same period last year[20] - The total assets at the end of the reporting period were ¥1,045,864,539.58, reflecting a 58.35% increase from ¥660,486,511.96 at the end of the previous year[20] - Cash and cash equivalents decreased to ¥102,199,738.45 from ¥110,231,550.97 RMB[130] - The total cash and cash equivalents at the end of the period were CNY 102,199,738.45, down from CNY 168,370,262.77 at the end of the previous period[145] - The company’s total assets at the beginning of the year were CNY 265,899,290[151] Shareholder Equity and Dividends - The net assets attributable to shareholders of the listed company were ¥790,508,078.11, which is a 49.68% increase from ¥528,125,802.03 at the end of the previous year[20] - Basic earnings per share for the reporting period were ¥0.0775, an increase of 14.99% compared to ¥0.0674 in the same period last year[20] - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares (including tax) based on a total share capital of 117,798,288 shares as of December 31, 2013[66] - The company reported a profit distribution of RMB 8.80 per share to shareholders[155] Expenses and Costs - The company’s sales expenses increased by 44.67% to CNY 6,535,442.33, primarily due to the consolidation of a new subsidiary[30] - Total operating costs amounted to ¥103,392,147.73, up 25.3% from ¥82,470,550.71 year-on-year[138] Investments and Projects - The company has extended its main business into digital television operation platform investment and services through its wholly-owned subsidiary, enhancing resource integration[36] - The investment progress for the high-end digital measuring instruments project is 17.54%, with a total commitment of 23,403.88 million CNY and 4,106.15 million CNY invested[53] - The investment progress for the special CNC machine tools project is 11.78%, with a total commitment of 12,099.37 million CNY and 1,425.58 million CNY invested[53] Related Party Transactions - The company reported a total of 1,020.64 million yuan in related party transactions, with the largest transaction being 472.69 million yuan, accounting for 48.12% of similar transactions[84] - The company engaged in operational services with related parties, with transaction amounts including 162.85 million yuan (16.58%) and 122.29 million yuan (12.45%)[83] - There were no significant related party transactions that affected the company's profit by more than 10% during the reporting period[90] Corporate Governance and Compliance - The company ensures independence in management, assets, and operations, with no dual appointments among senior management[102] - The company has established a commitment to avoid any direct or indirect competition with similar businesses[106] - The company has a dedicated financial department for independent financial decision-making[104] Financial Reporting and Auditing - The half-year financial report was not audited, and there was no change in the accounting firm compared to the 2013 annual report[110] - The financial statements of the group are prepared based on the assumption of going concern and comply with the relevant accounting standards, reflecting the financial position and operating results accurately[165] Research and Development - Research and development expenses rose to CNY 7,605,424.22, marking an 83.88% increase due to increased project development[31] - The company continues to focus on expanding its product range and improving product competitiveness to maintain its leading position in the domestic measuring tools market[32]
东方智造(002175) - 2014 Q1 - 季度财报
2014-04-24 16:00
Financial Performance - The company's operating revenue for Q1 2014 was ¥40,890,629.37, representing a 4.25% increase compared to ¥39,222,830.66 in the same period last year[8]. - The net profit attributable to shareholders was ¥1,554,872.44, showing a slight increase of 0.15% from ¥1,552,563.81 year-on-year[8]. - The net profit after deducting non-recurring gains and losses decreased by 31.39% to ¥974,640.02 from ¥1,420,634.36 in the previous year[8]. - The company's weighted average return on equity decreased to 0.29% from 0.58% year-on-year[8]. - The company expects net profit attributable to shareholders for the first half of 2014 to be between 6.12 million and 7.95 million yuan, representing a year-on-year change of 0% to 30%[27]. Cash Flow - The net cash flow from operating activities improved significantly to ¥395,110.55, a 122.93% increase from a negative cash flow of ¥1,723,111.28 in the same period last year[8]. - Net cash flow from operating activities increased by 122.93% year-on-year, primarily due to an increase in cash received from sales[21]. - Net cash flow from financing activities surged by 2318.64% year-on-year, mainly due to an increase in bank borrowings[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥694,641,582.83, up 5.17% from ¥660,486,511.96 at the end of the previous year[8]. - Prepayments increased by 229.06% year-on-year, mainly due to the increase in advance payments for materials during the reporting period[21]. - Other receivables grew by 78.80% year-on-year, primarily due to an increase in inter-company transactions during the reporting period[21]. - Short-term borrowings rose by 33.33% year-on-year, attributed to an increase in bank short-term loans[21]. - Asset impairment losses increased by 61.40% year-on-year, mainly due to an increase in provisions for bad debts[21]. Income and Expenses - The company received non-operating income of ¥580,232.42, primarily from non-current asset disposal gains and government subsidies[9]. - Sales expenses increased by 30.59% year-on-year, mainly due to higher exhibition expenses during the reporting period[21]. - Investment income doubled, increasing by 100% year-on-year, mainly due to interest income from bank financial products[21]. - Financial expenses decreased by 35.11% year-on-year, mainly due to the impact of bank loan interest and exchange rate gains and losses[21]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,426[11]. - The company obtained approval from the China Securities Regulatory Commission for issuing shares to purchase assets and raise matching funds on April 2, 2014[17]. - The company plans to implement the approved share issuance and asset purchase in accordance with the regulatory requirements and shareholder authorization[17].
东方智造(002175) - 2013 Q4 - 年度财报
2014-04-09 16:00
Financial Performance - The company's operating revenue for 2013 was CNY 176,732,396.53, a decrease of 5.57% compared to CNY 187,148,532.77 in 2012[24] - The net profit attributable to shareholders for 2013 was CNY 10,870,993.52, an increase of 24.66% from CNY 8,720,769.92 in 2012[24] - The net cash flow from operating activities was CNY 10,257,400.40, down 19.89% from CNY 12,804,667.52 in the previous year[24] - The total assets at the end of 2013 reached CNY 660,486,511.96, representing a 58.72% increase from CNY 416,137,353.52 at the end of 2012[24] - The net assets attributable to shareholders increased by 98.62% to CNY 528,125,802.03 from CNY 265,899,297.26 in 2012[24] - Basic earnings per share for 2013 were CNY 0.1042, a slight increase of 2.06% from CNY 0.1021 in 2012[24] - The weighted average return on equity for 2013 was 2.60%, down from 3.29% in 2012[24] - The company’s total operating costs were CNY 121,901,362.66, a decrease of 5.00% from the previous year[37] - In 2013, the company's total revenue was 173,369,150.32 CNY, a decrease of 4.8% compared to the previous year[53] - The gross profit margin for the measuring instrument manufacturing industry was 30.16%, reflecting a slight decrease of 0.18% year-on-year[53] Cash Flow and Financing - The company reported a net cash flow from financing activities of CNY 214,158,511.41, a substantial increase of 17,874.09% due to the private placement[37] - The company achieved a significant increase in financing cash inflow, which rose by 201.77% to 392,300,000.00 CNY due to non-public stock issuance[51] - The company’s cash and cash equivalents increased by 256.51% due to the impact of a non-public stock issuance[51] - The net cash flow from investment activities was -168,022,595.95 CNY, a decrease of 235.07% year-on-year due to increased investment expenditures[51] - The total amount of raised funds is CNY 25,135.55 million, with CNY 4,031.04 million invested during the reporting period[68] - The company has invested a total of CNY 4,031.04 million in fundraising projects as of December 31, 2013[68] - The company plans to use up to CNY 20,000 million of idle raised funds to purchase safe and liquid principal-protected bank financial products[69] Business Strategy and Market Position - The company plans to extend its industrial chain and enter the cultural industry to enhance profitability and risk resistance[38] - The company aims to expand its product range and production scale, enhancing competitiveness and market share in the measuring tools sector[80] - The company is pursuing a dual-main business model by integrating electronic measuring tools and cultural media industries, which will create a diversified profit model[81] - The company has committed to a strategic plan that emphasizes the extension of its industrial chain and the development of high-quality products[78] - The company is focused on enhancing its technological capabilities and product quality to meet the increasing demands of the manufacturing sector[78] - The company plans to focus on the development of electronic digital measuring tools, particularly digital calipers, to maintain its leading position in the domestic market[79] - The company has developed several leading domestic products, including a patented absolute position measurement method, enhancing its competitive edge in international markets[32] Research and Development - Research and development expenses amounted to 6,713,566.89 CNY, representing 3.80% of total revenue and 1.27% of the latest audited net assets[48] - The company received 4 patents during the reporting period, including 1 invention patent, 2 utility model patents, and 1 design patent[48] - The company has been expanding its domestic market sales to mitigate risks from currency fluctuations and has increased its R&D efforts to enhance product quality and pricing power[83] Corporate Governance and Compliance - The company emphasizes the protection of shareholder and creditor rights by adhering to corporate governance regulations and improving transparency in operations[102] - The company has implemented measures to strengthen internal controls and management systems in response to the complexity of its expanding operations[85] - The company has established a comprehensive internal control system covering all operational aspects, including procurement, sales, and financial reporting[199] - The internal control system is deemed effective and reasonable, with no significant deficiencies reported during the evaluation period[200] - The company has maintained compliance with corporate governance requirements as per the Company Law and regulations from the China Securities Regulatory Commission[178] Employee and Social Responsibility - The company has implemented a comprehensive employee welfare program, including social insurance and performance-based salary adjustments, enhancing employee satisfaction and retention[107] - Employee training programs were conducted, with 200 participants in outdoor training aimed at improving team communication and trust[108] - The company actively participates in social welfare and charity activities, enhancing its public image and social influence[111] - The company aims to enhance its corporate credibility by increasing its social responsibility efforts and promoting harmonious development with society[112] Shareholder and Market Information - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 11,779,828.80 based on the total share capital of 117,798,288 shares[6] - The total distributable profit for 2013 is 68,845,589.76 yuan, after deducting a statutory surplus reserve of 1,074,956.65 yuan from the net profit of 10,749,566.48 yuan[100] - The company aims to distribute at least 20% of the annual distributable profit in cash and has a cumulative cash distribution policy of no less than 30% of the average annual distributable profit over the last three years[100] Risk Management - There are risks related to market competition and macroeconomic environment changes that the company is monitoring[14] - The company is facing risks related to rising labor costs, currency appreciation, and raw material price increases, prompting a need for strategic transformation[82] Legal and Regulatory Matters - The company has not faced any major litigation or arbitration matters during the reporting period, indicating a stable legal standing[115] - The company has not experienced any bankruptcy reorganization matters during the reporting period, indicating financial stability[119] - The company has not reported any changes in the actual controller's status during the reporting period[149] Management and Structure - The management team consists of experienced professionals, with the CEO, Dong Zhongxin, having been with the company since 2006[160] - The company has maintained a stable management structure with no recent changes in key personnel[159] - The board of directors consists of five members, including two independent directors, complying with legal and regulatory requirements[175]