Financial Performance - The company's operating revenue for 2019 was CNY 1,871,951,550.71, a decrease of 2.97% compared to 2018[24]. - The net profit attributable to shareholders for 2019 was CNY 261,699,335.74, down 11.64% from the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 242,959,675.59, a decrease of 9.79% year-on-year[24]. - The basic earnings per share for 2019 was CNY 0.68, a decline of 15.00% from 2018[24]. - The weighted average return on net assets was 13.79%, down 6.28% from the previous year[24]. - The total operating income for the fourth quarter was ¥437,128,817.87, while the net profit attributable to shareholders was ¥50,448,178.73[29]. - The company achieved operating revenue of 1.872 billion yuan, a decrease of 2.97% year-on-year, and a net profit attributable to shareholders of 262 million yuan, down 11.64% year-on-year[71]. - The mobile terminal business generated sales revenue of 960 million yuan in 2019, a decline of 12.91% year-on-year, primarily due to the impact of US-China trade tensions and reduced smartphone sales[74]. - The electronic cigarette segment reported sales revenue of 242 million yuan, down 18.33% year-on-year, affected by regulatory policies in the US and China[76]. - The medical and food high-speed filling business generated sales revenue of 76 million yuan, a remarkable growth of 155.73% year-on-year, with successful applications in IVD and beverage capsule filling[77]. Cash Flow and Investments - The net cash flow from operating activities increased by 16.62% to CNY 327,328,643.53 in 2019[24]. - Operating cash inflow decreased by 10.92% to ¥1,760,860,073.15, while operating cash outflow decreased by 15.48% to ¥1,433,531,429.62[103]. - The net cash flow from investment activities showed a significant decrease of 1,418.32%, resulting in a net outflow of ¥1,163,114,098.27[106]. - The company reported a net interest income of RMB 1.68 million from bank deposits and financial products in 2019[121]. - The company has allocated RMB 40 million of idle raised funds for cash management, investing in low-risk financial products[130]. Assets and Liabilities - The total assets at the end of 2019 reached CNY 3,203,006,243.66, reflecting a growth of 27.58% compared to the end of 2018[24]. - Fixed assets increased by 264.75 million yuan, a growth of 149.30%, primarily due to the acquisition of 100% equity in DiGuang Electronics in November 2019[59]. - Intangible assets rose by 43.89 million yuan, a growth of 132.71%, also attributed to the acquisition of DiGuang Electronics[59]. - The company reported a total of 901,848,175.88 CNY in restricted assets, primarily due to term deposits and collateralized notes[113]. - The company’s financial liabilities at fair value amounted to 2,649,879.05 CNY, with no significant changes in asset measurement attributes during the reporting period[109]. Market Position and Strategy - The company focuses on the research, design, production, and sales of industrial automation equipment, with applications in various industries including mobile terminals and new energy[38]. - The automation industry in China is experiencing significant growth, with the company positioned to capitalize on the increasing demand for automation solutions in various sectors[42]. - The company has established strong partnerships with leading brands across multiple sectors, enhancing its market position and driving growth[41]. - The company is actively exploring new technologies and products to meet the evolving needs of emerging markets, particularly in automation and digital solutions[44]. - The company aims to enhance its brand recognition and market position through active marketing efforts and product line optimization[145]. Research and Development - As of December 31, 2019, the company had 637 R&D personnel, accounting for 29.19% of the total workforce, and held 151 patents, including 37 invention patents[61]. - The company has invested in the development of new products, including wireless smart charging and testing equipment for wearable products, and high-speed automation solutions for various industries[73]. - The company has made significant advancements in machine vision and image processing, enhancing production efficiency across various automated assembly and inspection lines[61]. - The company developed new R&D projects including camera and module testing equipment, and high-precision electronic cigarette filling equipment[101]. Risks and Challenges - The company faces risks including economic downturns due to the COVID-19 pandemic and unclear policies regarding electronic cigarettes[6]. - The company anticipates risks from the COVID-19 pandemic affecting economic activity and demand across sectors, and is actively coordinating supply chain responses[161]. - The company is addressing the unclear regulatory risks associated with the electronic cigarette industry[162]. Dividend and Shareholder Policy - The company plans to distribute a cash dividend of CNY 2 per 10 shares, based on a total of 410,000,000 shares[6]. - The company reported a cash dividend of RMB 82 million for the fiscal year 2019, distributing RMB 2 per 10 shares, which represents 31.33% of the net profit attributable to ordinary shareholders[172][175]. - The company’s cash dividend policy is designed to protect the rights of minority investors, with clear standards and procedures in place[172]. - The board has developed a future dividend return plan for 2017-2019 to ensure shareholder returns[199]. Acquisitions and Investments - The company acquired 100% of DiGuang Electronics on November 27, 2019, to address high rental costs and management difficulties in Shenzhen[92]. - The company’s investment in Di Guang Electronics is expected to resolve issues related to high rental costs and management difficulties in multiple locations[116]. - The company has invested RMB 8.1 million (22.68% of the total) in the Zhongshan Kory Automation Technology project, with a completion deadline set for December 31, 2022[127].

Financial Performance - Operating revenue decreased by 19.10% to CNY 606,056,944.29 compared to the same period last year[9] - Net profit attributable to shareholders decreased by 28.58% to CNY 126,516,636.22 compared to the same period last year[9] - Basic earnings per share decreased by 31.13% to CNY 0.3306 compared to the same period last year[9] - Diluted earnings per share decreased by 31.13% to CNY 0.3306 compared to the same period last year[9] - Weighted average return on equity decreased by 44.31% to 6.52% compared to the same period last year[9] - Total operating revenue for the current period is CNY 606,056,944.29, a decrease of 19.1% compared to CNY 749,127,328.53 in the previous period[58] - Net profit for the current period is CNY 144,504,861.37, a decline of 31.7% from CNY 211,705,387.77 in the previous period[61] - Total operating revenue for the current period is CNY 324,078,179.38, a decrease of 26.7% compared to CNY 441,974,418.03 in the previous period[69] - Net profit for the current period is CNY 72,441,806.02, a decline of 38.6% compared to CNY 118,053,648.76 in the previous period[72] - Total comprehensive income for the current period is CNY 72,441,806.02, compared to CNY 118,053,648.76 in the previous period[72] Assets and Liabilities - Total assets increased by 16.85% to CNY 2,933,421,304.24 compared to the end of the previous year[9] - Total liabilities decreased to CNY 446,163,805.28 from CNY 692,586,123.41, a reduction of 35.5%[44] - The company's equity attributable to shareholders increased to ¥2,280,639,056.20, up 41.0% from ¥1,615,953,021.32[47] - The total assets reached ¥2,933,421,304.24, an increase of 16.8% from ¥2,510,509,599.98[47] - The company's total assets have increased to CNY 1,899,460,136.69 from CNY 1,417,276,009.73, representing a growth of 33.8%[57] - Total liabilities decreased to CNY 231,467,436.58 from CNY 387,474,064.40, a reduction of 40.3%[54] - The company's equity increased to CNY 1,667,992,700.11 from CNY 1,029,801,945.33, reflecting a growth of 62.0%[57] Cash Flow - Net cash flow from operating activities decreased by 106.97% to -CNY 4,361,401.12 compared to the same period last year[9] - The company reported a 101.80% increase in cash received from operating activities, totaling CNY 29,133,828.80, attributed to more government subsidies received[25] - The company's cash flow from operating activities was ¥1,196,683,193.46, a decrease of 15% compared to ¥1,407,801,932.20 in the previous period[91] - Operating cash inflow totaled ¥1,293,109,566.27, a decrease of 14.5% from ¥1,511,443,250.88 in the previous period[94] - The net increase in cash and cash equivalents was ¥320,383,312.48, contrasting with a decrease of -¥64,097,441.14 in the prior period[97] Government Subsidies and Other Income - The company reported government subsidies of CNY 26,411,723.61 during the reporting period[9] - Other income increased by 65% to CNY 26,411,723.61, mainly due to higher government subsidies received[25] - The company received tax refunds totaling ¥67,292,544.01, compared to ¥89,204,009.83 in the previous period, indicating a decrease of 24.6%[94] Shareholder Information - The total number of shareholders at the end of the reporting period was 27,617[13] - The company has engaged in investor relations activities, indicating a proactive approach to communication with stakeholders[34] Research and Development - Research and development expenses for the current period are CNY 55,549,311.82, slightly up from CNY 54,132,413.83 in the previous period[58] - Research and development expenses for the current period amount to CNY 28,732,564.51, a decrease of 54.4% from CNY 62,824,293.44 in the previous period[69] - Research and development expenses increased to ¥91,556,857.95, up 14.1% from ¥80,296,268.78 in the previous period[86] Financial Stability and Strategy - The company is focusing on enhancing its financial stability and operational efficiency through strategic asset management and reduction of liabilities[44] - The company plans to focus on market expansion and new product development in the upcoming quarters[63] - The company is focused on maintaining a strong balance sheet while exploring new market opportunities[124]