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迪森股份(300335) - 2019 Q4 - 年度财报
2020-04-21 16:00
Financial Performance - The company's operating revenue for 2019 was CNY 1,460,955,401.39, a decrease of 17.72% compared to CNY 1,775,599,876.00 in 2018[15]. - The net profit attributable to shareholders for 2019 was CNY 82,037,786.30, down 49.25% from CNY 161,637,310.41 in 2018[15]. - Basic earnings per share for 2019 were CNY 0.23, a decline of 48.89% from CNY 0.45 in 2018[16]. - The total assets at the end of 2019 were CNY 3,388,899,349.53, a decrease of 1.67% from CNY 3,446,559,724.27 at the end of 2018[16]. - The net assets attributable to shareholders increased by 12.77% to CNY 1,532,509,448.87 at the end of 2019, compared to CNY 1,358,996,845.52 at the end of 2018[16]. - The company reported a total of 360,408,035 shares as the basis for the cash dividend distribution[136]. - The cash dividend for 2019 accounted for 65.90% of the net profit attributable to ordinary shareholders[139]. - The total cash dividend for 2019, including other methods, was 83.42% of the net profit attributable to ordinary shareholders[139]. Cash Flow - The net cash flow from operating activities increased by 109.32% to CNY 428,770,380.46 in 2019, compared to CNY 204,837,872.67 in 2018[15]. - The net cash flow from operating activities increased by 109.32% year-on-year to ¥428,770,380.46, driven by improved accounts receivable management and timely sales collections[78]. - The net cash flow from investment activities decreased by 35.05% year-on-year, mainly due to reduced financing lease investments[78]. - The net cash flow from financing activities decreased by 132.64% year-on-year, primarily due to the payment of the final installment for equity acquisitions[78]. Investment and Projects - The company has a total of 74 investment and operation projects, with 57 projects already in operation and 17 projects still under construction[30]. - The company is investing in the "20,000 steam tons clean energy boiler renovation and expansion project" at Changzhou Boiler Co., Ltd.[54]. - The company has made strategic adjustments to its investment projects, including the acquisition of a 51% stake in Chengdu Century New Energy Co., Ltd., with a total investment of RMB 6 million for the second phase of the acquisition[106]. - The company plans to invest 280 million CNY in the Disen Incubation Park project, aiming to become an innovation hub in the Guangdong-Hong Kong-Macao Greater Bay Area within two years[127]. Research and Development - The company is actively involved in the research and development of new technologies related to energy efficiency and environmental sustainability[4]. - The company has established a complete R&D, production, sales, and after-sales service system for gas wall-mounted boilers, contributing to its sustainable development[46]. - The company added 28 new authorized patents during the reporting period, including 3 invention patents and 23 utility model patents[73]. - The R&D investment accounted for 2.31% of operating revenue, down from 2.79% in the previous year[76]. Market and Sales - The company is focused on expanding its market presence and enhancing its product offerings in the energy sector[4]. - The company is actively expanding its sales network, incorporating a multi-channel strategy that includes retail, engineering, e-commerce, and international markets[41]. - The company achieved total sales of over 2 million units for its "Little Squirrel" wall-mounted boiler, receiving multiple awards for quality and channel value in 2019[40]. - The sales volume for E2B clean energy services was 6,019,895.38 GJ, a decrease of 12.14% from 6,851,470.38 GJ in 2018[64]. Compliance and Governance - The company emphasizes the importance of compliance with the Shenzhen Stock Exchange's disclosure requirements for energy-saving and environmental protection services[4]. - The company has established a comprehensive governance structure to ensure transparency and accountability in its operations[4]. - The company commits to providing accurate and complete information in its financial disclosures, ensuring compliance with legal responsibilities[141]. - The company guarantees the authenticity, accuracy, and completeness of the information provided for the transaction, ensuring no false records or misleading statements exist[143]. Environmental Sustainability - The company is committed to environmental sustainability, providing safe, economical, and stable energy operation services to its clients[32]. - The company has implemented a comprehensive waste gas treatment system, including low-nitrogen combustion and selective non-catalytic reduction for flue gas[198]. - The emissions from the first boiler meet the standards set by GB 13271-2014 for major atmospheric pollutants[199]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[195]. Risks and Challenges - The company has outlined potential risks related to its future plans and development strategies in the report[4]. - The company faces risks from macroeconomic downturns, which could lead to reduced demand and impact overall performance[128]. - The company is addressing the competitive risks in the wall-hung boiler industry by enhancing product quality and expanding retail channels[129]. - The company will focus on cost-saving measures and improving management systems in response to challenges posed by the COVID-19 pandemic[127].
迪森股份(300335) - 2019 Q3 - 季度财报
2019-10-29 16:00
Financial Performance - Operating revenue for the reporting period was ¥405,475,332.39, a decrease of 13.41% year-on-year[7] - Net profit attributable to shareholders of the listed company was ¥35,858,890.94, down 38.35% compared to the same period last year[7] - Basic earnings per share decreased by 38.37% to ¥0.0988[7] - The weighted average return on net assets was 2.32%, a decrease of 47.27% year-on-year[7] - Total operating revenue for Q3 2019 was CNY 405,475,332.39, a decrease of 13.4% compared to CNY 468,244,598.18 in the same period last year[53] - Net profit for Q3 2019 was CNY 48,384,183.43, down 32.1% from CNY 71,329,485.14 year-on-year[54] - Basic and diluted earnings per share were both CNY 0.0988, compared to CNY 0.1603 in the previous year[56] - Total revenue for the year-to-date is ¥976,080,209.88, down 24.5% from ¥1,294,835,662.91 in the same period last year[61] - The total comprehensive income for the current period is ¥131,744,067.92, down 30.9% from ¥190,693,723.71[65] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,458,924,220.64, an increase of 0.36% compared to the end of the previous year[7] - Total liabilities decreased to ¥1,632,770,758.95, down 10.2% from ¥1,818,963,714.57 in the previous year[46] - The company's total assets stood at ¥3,458,924,220.64, showing a marginal increase from ¥3,446,559,724.27 year-over-year[47] - Short-term borrowings significantly decreased to ¥301,850,000.00 from ¥672,020,000.00, a reduction of 55.1%[46] - Total liabilities decreased significantly from CNY 1,032,499,862.48 to CNY 795,529,766.03, a reduction of 22.9%[52] - The company’s total liabilities were not explicitly stated, but short-term borrowings were CNY 672,020,000.00, indicating a significant leverage position[78] Shareholder Information - Net assets attributable to shareholders of the listed company increased by 14.68% to ¥1,558,497,979.21[7] - The total number of ordinary shareholders at the end of the reporting period was 20,394[12] - The top shareholder, Chang Hou Chun, held 14.03% of the shares, totaling 50,919,599 shares[14] - As of the report date, the company has repurchased a total of 1,900,000 shares, accounting for 0.52% of the total share capital, with a total payment of RMB 10,944,805[36] Cash Flow - Cash flow from operating activities for the year-to-date was ¥249,001,033.49, an increase of 60.20%[7] - Operating cash flow net increased by CNY 93.57 million, a growth of 60.20%, due to improved management of accounts receivable and increased use of notes for supplier payments[27] - The net cash flow from operating activities is ¥249,001,033.49, an increase of 60.1% from ¥155,431,617.98 in the previous period[71] - Cash flow from investing activities showed a net outflow of ¥315,153,313.50, worsening from a net outflow of ¥251,208,460.01 in the previous period[72] - Cash flow from financing activities resulted in a net outflow of ¥155,886,910.07, compared to a net outflow of ¥81,174,188.68 in the previous period[72] Investments and Projects - The company signed a strategic cooperation agreement with Country Garden Property Service Co., Ltd. to explore market opportunities in the heating sector, but a formal cooperation agreement has not yet been signed[30] - The company subscribed to 5,339,558 shares of Minghan Technology Co., Ltd. for a total consideration of RMB 14 million, holding 31.43% of its total share capital after the subscription[31] - The company reported a total investment amount of RMB 32,807.91 million for signed contracts, with operational income from ongoing projects exceeding RMB 1,000 million[29] - The company has ongoing major energy-saving and environmental protection projects, with significant orders in the construction phase[30] - The company is in the process of merging its wholly-owned subsidiaries, aiming to streamline operations and enhance efficiency[33] Financial Expenses - Financial expenses rose to ¥46,439,865.67, up 80.0% from ¥25,829,264.44, primarily due to increased interest expenses[63] - The company reported a financial expense of CNY 21,443,261.79, which is significantly higher than CNY 5,916,929.56 in the previous year, indicating increased borrowing costs[53] - Financial expenses increased significantly to ¥36,092,484.31, up 98.5% from ¥18,170,966.48 in the previous period, primarily due to increased interest expenses[66] Operational Efficiency - The company has not reported any overdue commitments from its major shareholders or related parties during the reporting period[38] - The company has not yet executed any major orders that meet the criteria for operational income or profit contribution as per the latest financial year[30] - The company plans to continue expanding its market presence through strategic partnerships and investments in technology[30] - The company reported a decrease in sales expenses to ¥3,918,513.88, down 53.7% from ¥8,439,199.55 in the previous period[66] - Research and development expenses decreased to ¥5,693,506.14, a reduction of 16.4% compared to ¥6,814,842.10 in the previous period[66]
迪森股份(300335) - 2019 Q2 - 季度财报
2019-08-29 16:00
Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2019, representing a year-on-year increase of 15% compared to the same period in 2018[14]. - The net profit attributable to shareholders for the first half of 2019 was RMB 50 million, an increase of 10% year-on-year[14]. - Total revenue for the reporting period was ¥570,604,877.49, a decrease of 30.97% compared to the same period last year[20]. - Net profit attributable to shareholders was ¥55,134,467.68, down 39.27% year-on-year[20]. - Net profit after deducting non-recurring gains and losses was ¥27,689,389.64, a decline of 67.60% compared to the previous year[20]. - Operating cash flow for the period increased by 110.67% to ¥123,647,172.16[20]. - Basic and diluted earnings per share were both ¥0.1519, representing a decrease of 39.29% from the previous year[20]. - The company achieved operating profit of CNY 95,719,158.20, a decrease of 32.73% year-on-year, and net profit attributable to shareholders of CNY 55,134,467.68, down 39.27% year-on-year[53]. - Revenue for the reporting period was CNY 570,604,877.49, representing a decline of 30.97% compared to the previous year, primarily due to the macroeconomic downturn and the impact of coal-to-gas policies[55]. - The company’s R&D investment decreased by 16.68% to CNY 16,253,775.82, reflecting a focus on optimizing internal management and operational efficiency[55]. Strategic Initiatives - The company plans to expand its market presence in the Greater Bay Area, focusing on high-end projects and talent acquisition[12]. - The company is actively pursuing strategic partnerships to enhance its technological capabilities and market reach[12]. - The company anticipates a revenue growth target of 20% for the full year 2019, driven by increased demand for its products[14]. - The company is focusing on the development of biomass energy solutions, aligning with national policies promoting cleaner energy sources[12]. - The company has identified potential acquisition targets to bolster its product offerings and market share in the thermal technology industry[12]. - The company is advancing the "20,000 tons/year clean energy boiler renovation and expansion project" at Changzhou Boiler Co., which is expected to enhance market competitiveness[53]. - The company is collaborating with Alibaba Cloud to enhance the intelligence and differentiation of its operational services, leveraging advancements in IoT and 5G technology[54]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[115]. Investment and Funding - The company will not distribute cash dividends or issue bonus shares for the first half of 2019, retaining earnings for reinvestment[6]. - The total investment amount for the reporting period was 249,792,691.80 RMB, representing a 20.83% increase compared to the previous year's investment of 206,724,798.85 RMB[69]. - Total fundraising amount reached CNY 135 million, with CNY 25.28 million invested during the reporting period[76]. - The company issued convertible bonds totaling CNY 600 million, netting CNY 588.56 million after expenses[77]. - The company has not changed the purpose of the fundraising, maintaining a 0% change ratio[76]. - The company has not reported any significant changes in the feasibility of its projects or the use of raised funds[85]. Market and Competitive Landscape - The company faces risks related to market competition and regulatory changes, which it is addressing through strategic planning and risk management measures[5]. - The wall-mounted boiler industry is experiencing intensified competition, necessitating continuous product innovation and quality improvement to maintain market leadership[104]. - The clean heating market is expected to experience steady growth in the long term, despite short-term sales growth slowing due to policy adjustments[46]. - The company plans to enhance its product upgrade initiatives and strengthen retail channel reforms to boost brand influence and market share in the southern retail market[104]. Environmental and Compliance - The company has implemented a low-nitrogen combustion and selective non-catalytic reduction (SNCR) system for boiler flue gas treatment, ensuring emissions meet national standards[157]. - The company’s wastewater discharge meets the local standards for rural domestic sewage treatment facilities[158]. - The company has established an emergency response plan for environmental incidents in compliance with national regulations[158]. - The company’s environmental information has been publicly disclosed in accordance with relevant regulations[159]. - The company has been recognized as a high-tech enterprise and has participated in drafting 19 national and industry standards related to wall-hung boilers[50]. Shareholder and Corporate Governance - The company will ensure that the raised funds from the convertible bonds will be managed in a dedicated account and will not be used for non-designated purposes[118]. - The company has established a commitment to compensate for any losses caused to investors due to violations of its commitments[118]. - The company has fulfilled its commitments to minority shareholders in a timely manner[119]. - The company has not faced any penalties or rectification issues during the reporting period[126]. - The company has granted a total of 5,450,000 stock options and 2,725,000 restricted stocks to 58 incentive targets since the stock option plan was launched in 2014[128]. Legal Matters - The company is currently involved in a lawsuit with Zhejiang Weines Decoration Materials Co., Ltd., with a claim amount of 586.38 million yuan, which is in the second instance stage[123]. - The company has a pending lawsuit against Guangzhou Sanhe Textile Co., Ltd. for a total claim of approximately 10.84 million yuan, currently in execution[124]. - The company has not experienced any major litigation or arbitration matters during the reporting period[123].
迪森股份(300335) - 2018 Q4 - 年度财报
2019-04-24 16:00
Dividend Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, based on a total of 362,916,645 shares[12]. - The total distributable profit for the year 2018 is RMB 206,327,403.47, with cash dividends accounting for 100% of the profit distribution[138]. - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends of RMB 28,950,123.60 in 2016 and RMB 43,513,265.40 in 2017, representing 22.70% and 20.43% of net profit respectively[142]. Financial Performance - The company's operating revenue for 2018 was approximately ¥1.78 billion, a decrease of 7.56% compared to ¥1.92 billion in 2017[24]. - The net profit attributable to shareholders for 2018 was approximately ¥161.64 million, down 24.12% from ¥213.02 million in 2017[24]. - The net cash flow from operating activities was approximately ¥204.84 million, representing a decline of 17.37% from ¥247.89 million in the previous year[24]. - The basic earnings per share for 2018 was ¥0.45, a decrease of 23.73% compared to ¥0.59 in 2017[24]. - The total assets at the end of 2018 were approximately ¥3.45 billion, an increase of 2.28% from ¥3.37 billion at the end of 2017[24]. - The net assets attributable to shareholders increased by 7.42% to approximately ¥1.36 billion at the end of 2018, compared to ¥1.27 billion at the end of 2017[24]. Market Expansion and Strategy - The company is actively expanding its market presence in the clean energy sector, particularly in biomass, natural gas, and clean coal solutions[5]. - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[20]. - The company is focusing on the development of biomass energy and natural gas distributed energy solutions to align with national environmental policies[20]. - The company aims to increase the share of natural gas in primary energy consumption to 10% by 2020 and 15% by 2030[12]. Project Implementation and Risks - The company acknowledges risks associated with project implementation due to high technical requirements and potential mismatches between designed capacity and actual energy demand[6]. - The company recognizes management risks due to the broad geographical spread of its projects and is enhancing platform construction and resource allocation[8]. - The company is committed to optimizing project investment and construction plans to improve capital efficiency and investment returns[7]. Operational Performance - In Q1, the company reported operating revenue of ¥477,480,963.68, with a net profit attributable to shareholders of ¥64,132,299.64, and a net cash flow from operating activities of -¥46,265,612.67[26]. - In Q2, operating revenue decreased to ¥349,110,101.05, with a net profit of ¥26,660,011.06, while cash flow from operating activities improved to ¥104,956,821.11[26]. - For Q3, the company achieved operating revenue of ¥468,244,598.18 and a net profit of ¥58,166,957.46, with cash flow from operating activities at ¥96,740,409.54[26]. - In Q4, operating revenue slightly increased to ¥480,764,213.09, but net profit dropped to ¥12,678,042.25, with cash flow from operating activities at ¥49,406,254.69[26]. Research and Development - The company’s self-developed low-nitrogen condensing gas boiler has been recognized as a high-tech product in Guangdong Province[39]. - The company added 26 new authorized patents during the reporting period, enhancing its technological innovation capabilities[72]. - The company applied for 26 new patents during the reporting period, including 6 invention patents and 17 utility model patents[92]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[188]. - The company has implemented a low-nitrogen combustion and selective non-catalytic reduction (SNCR) system for boiler flue gas treatment[190]. - The company’s emissions for particulate matter, sulfur dioxide, and nitrogen oxides from the boiler meet the national standards[192]. - The company has established an emergency response plan for potential environmental incidents, which has been registered with the local environmental protection bureau[196]. Corporate Governance and Compliance - The company has committed to providing accurate and complete information regarding its transactions and has adhered to its commitments without any violations reported[143]. - The company has not found any violations of commitments regarding related party transactions and competition with listed companies[145]. - The company has established a principle of fair and reasonable pricing for unavoidable related transactions[145]. Investment and Financing - The company raised a total of ¥729,014,000 through a non-public offering, with ¥693,624,200 already utilized by the end of the reporting period[109]. - The company plans to use the remaining ¥33,226,600 of raised funds for operational projects related to its main business[109]. - The company has not provided guarantees for shareholders, actual controllers, or their related parties[178]. Subsidiary Performance - The company’s subsidiary, Disen Home, generated a net profit of CNY 129,028,130.67, contributing significantly to the overall performance[121]. - The subsidiary, Century New Energy, reported a net profit of CNY 96,827,313.73, indicating strong performance in distributed energy services[121]. Future Outlook - The company aims to enhance its position as a comprehensive clean energy service provider, focusing on energy solutions tailored to user needs[122]. - The company plans to strengthen its product upgrade initiatives and retail channel reforms to enhance brand influence and market share in the southern retail market[134].
迪森股份(300335) - 2019 Q1 - 季度财报
2019-04-24 16:00
Financial Performance - Total revenue for Q1 2019 was CNY 269,498,986.72, a decrease of 43.56% compared to CNY 477,480,963.68 in the same period last year[7] - Net profit attributable to shareholders was CNY 32,878,739.69, down 48.73% from CNY 64,132,299.64 year-on-year[7] - Net profit excluding non-recurring gains and losses was CNY 20,775,394.46, a decline of 66.30% compared to CNY 61,653,141.27 in the previous year[7] - Basic earnings per share decreased to CNY 0.0906, down 48.70% from CNY 0.1766 year-on-year[7] - Operating income decreased by ¥207.98 million, a decline of 43.56%, primarily due to the relocation of the B-end equipment production base affecting performance[23] - Operating costs decreased by ¥143.73 million, a decline of 43.49%, corresponding to the decrease in operating income[23] - Net profit for Q1 2019 was CNY 47,798,456.46, representing a decline of 39.9% from CNY 79,425,533.28 in Q1 2018[69] - Earnings per share for Q1 2019 were CNY 0.0906, compared to CNY 0.1766 in the previous year, reflecting a decrease of 48.9%[70] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 24,731,182.66, an improvement of 46.55% from negative CNY 46,265,612.67 in the same period last year[7] - Cash and cash equivalents increased by ¥481 million, a growth of 103.80%, primarily due to the arrival of funds from convertible bonds[22] - Net cash flow from operating activities increased by ¥21.53 million, a growth of 46.55%, due to reduced procurement needs[25] - Net cash flow from investing activities increased by ¥44.33 million, a growth of 34.20%, as cash payments for fixed assets decreased[25] - Net cash flow from financing activities increased by ¥610.01 million, a growth of 350%, mainly from funds raised through convertible bonds[25] - Total cash and cash equivalents at the end of the period reached CNY 932,384,044.46, significantly up from CNY 289,579,003.53 at the end of the previous year[73] - The company raised CNY 593,520,000.00 through bond issuance during the financing activities, contributing to a net cash flow from financing activities of CNY 592,987,933.91[73] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,915,221,049.92, an increase of 13.60% from CNY 3,446,559,724.27 at the end of the previous year[7] - Total liabilities rose to CNY 2,090,028,931.18, compared to CNY 1,818,963,714.57, marking an increase of approximately 14.9%[63] - Current liabilities decreased to CNY 1,474,977,921.93 from CNY 1,604,415,480.46, reflecting a reduction of approximately 8.1%[63] - Long-term borrowings increased to CNY 121,460,903.36 from CNY 92,518,193.67, showing an increase of about 31.3%[63] - Total current assets increased to CNY 1,419,044,694.29 from CNY 709,548,335.50, showing a growth of approximately 99.5%[66] Shareholder Information - The company reported a total of 22,730 common shareholders at the end of the reporting period[12] - The top ten shareholders held a combined 55.03% of the company's shares, with the largest shareholder holding 14.03%[14] Research and Development - The company increased its focus on R&D in biomass fuel boilers, gas wall-hung boilers, fresh air, and water purification systems, adding 8 new patents during the reporting period, including 2 invention patents and 5 utility model patents[32] - As of March 31, 2019, the company held a total of 322 valid patents, comprising 58 invention patents, 250 utility model patents, and 14 design patents[32] - Research and development expenses for Q1 2019 were CNY 8,782,882.53, slightly down from CNY 9,416,924.74 in the previous year[68] Market and Operational Strategy - The company operates in the downstream of the natural gas industry chain, covering industrial, commercial, and household sectors[26] - The company is actively expanding its B-end operations, with projects like the Wuxue Industrial Park cogeneration heating project entering trial operation phases[36] - In the B-end equipment sector, the company plans to invest in a project to expand the production capacity of clean energy boilers, targeting an annual output of 20,000 steam tons[37] - The C-end product strategy includes the development of IoT-based home comfort technologies and expanding production facilities for heat pumps, fresh air systems, and water purification systems[38] Risk Management - The company faces significant risks from the continued slowdown of the macro economy, which could impact industrial and commercial clients' energy consumption and project profitability[41] - The company is closely monitoring the risks associated with non-residential natural gas supply limitations and price increases, which have affected some commercial projects[43] - The wall-hung boiler industry is experiencing intensified competition, with increasing market entrants and evolving consumer demands for diverse and personalized products[44] Corporate Governance and Culture - The company aims to enhance its management structure by differentiating between strategic, financial, and operational controls to improve efficiency and collaboration[39] - The company is committed to improving its internal management systems, focusing on strategic planning, performance management, and risk management to enhance project management efficiency[40] - The company emphasizes cultural development, promoting values of "sunshine, pragmatism, hard work, and innovation" to align employee goals with corporate objectives[40]
迪森股份(300335) - 2018 Q3 - 季度财报
2018-10-29 16:00
Financial Performance - Revenue for the reporting period was CNY 468,244,598.18, a decrease of 11.06% year-on-year[6] - Net profit attributable to shareholders decreased by 22.88% to CNY 58,166,957.46 for the reporting period[6] - Basic earnings per share decreased by 23.45% to CNY 0.1603[6] - The weighted average return on equity was 4.40%, down by 2.09% compared to the previous year[6] - Total revenue for the third quarter was CNY 468,244,598.18, a decrease of 11.04% from CNY 526,487,873.95 in the previous period[44] - Net profit for the period was CNY 71,329,485.14, a decline of 16.24% compared to CNY 85,125,721.24 in the same period last year[47] - The company's total assets increased to CNY 2,046,121,206.06 from CNY 1,979,692,403.44, reflecting a growth of 3.34%[43] - The company reported a basic earnings per share of CNY 0.1603, down from CNY 0.2094 in the previous period[48] - The total profit for the quarter was CNY 5,724,496.68, compared to CNY 1,991,080.48 in the previous year, reflecting a strong performance[51] - The net profit for Q3 2018 reached CNY 86.67 million, a substantial rise from CNY 13.57 million in Q3 2017, reflecting strong operational performance[57] Cash Flow and Liquidity - Cash flow from operating activities increased significantly by 485.60% to CNY 155,431,617.98 year-to-date[6] - Cash and cash equivalents decreased by CNY 158.06 million, a decline of 32.62%, primarily due to the gradual use of raised funds for investment projects[22] - The company's cash and cash equivalents amounted to RMB 326.52 million, a decrease from RMB 484.58 million at the beginning of the period, representing a decline of approximately 32.5%[38] - The company reported a decrease in cash and cash equivalents, ending the period with CNY 305.43 million, down from CNY 355.48 million[61] - Total cash inflow from operating activities was CNY 1.32 billion, while cash outflow was CNY 1.17 billion, resulting in a positive cash flow from operations[59] - Cash flow from financing activities showed a net outflow of CNY 81.17 million, contrasting with a net inflow of CNY 216.18 million in the same period last year[60] - Cash received from borrowings was $285 million, down from $414.99 million year-over-year[64] - Cash paid for debt repayment was $264.99 million, an increase from $205 million in the previous period[64] Shareholder Information - The total number of shareholders at the end of the reporting period was 23,314[12] - The top shareholder, Chang Hou Chun, holds 14.03% of the shares, amounting to 50,919,599 shares[12] - The company reported a total of 38,189,699 shares held by the actual controller, Chang Hou Chun, with a lock-up period due to executive restrictions[16] - Li Zu Qin holds 29,930,951 shares, also subject to a lock-up period as part of executive restrictions[16] - Ma Ge has 28,034,369 shares under similar executive lock-up conditions[16] - The top ten unrestricted shareholders include Chang Hou Chun with 12,729,900 shares and Li Zu Qin with 9,976,984 shares[13] - The total number of shares held by the top ten unrestricted shareholders reflects significant ownership concentration[13] - The company has a structured lock-up policy for executives, requiring them to lock 75% of their shares during their tenure[16] Assets and Liabilities - Total assets increased by 2.24% to CNY 3,445,350,372.17 compared to the end of the previous year[6] - The company has experienced a 6.80% increase in net assets attributable to shareholders compared to the previous year[6] - The company’s total liabilities increased significantly, reflecting a strategic shift towards leveraging for growth and expansion[22] - The total liabilities amounted to CNY 1,022,513,498.48, slightly up from CNY 1,007,199,852.84, an increase of 1.52%[43] - The company's total liabilities decreased slightly from RMB 1.86 billion to RMB 1.83 billion, a reduction of about 1.3%[40] Investment and Growth - The company plans to publicly issue convertible bonds with a total scale not exceeding RMB 600 million, which has been approved by the board and shareholders[30] - Total new orders for energy-saving and environmental protection projects amounted to CNY 19.73 million, with one BOT contract signed[28] - The company’s intangible assets increased by CNY 42.99 million, up 62.41%, mainly due to the inclusion of land assets from Dissen (Changzhou) Boiler Co., Ltd.[22] - Investment income decreased by CNY 0.615 million, down 101.44%, primarily due to increased investment losses from joint ventures[23] Operational Efficiency - The company plans to continue focusing on operational efficiency and cost management to enhance profitability in future quarters[57] - The company did not engage in any repurchase transactions during the reporting period[13] - The report indicates that the company has not disclosed any relationships or agreements among other shareholders[13] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[34]
迪森股份(300335) - 2018 Q2 - 季度财报
2018-07-30 16:00
Financial Performance - The company achieved a net profit of 6,443.08 million yuan for Devotion Home and 7,108.60 million yuan for Century New Energy during the first performance commitment period, exceeding the promised amounts[11]. - Total operating revenue for the first half of 2018 was RMB 826,591,064.73, representing a 10.93% increase compared to RMB 745,135,664.88 in the same period of 2017[25]. - Net profit attributable to shareholders of the listed company was RMB 90,792,310.70, up 3.31% from RMB 87,883,773.82 year-on-year[25]. - Net cash flow from operating activities improved significantly to RMB 58,691,208.44, a 278.34% increase from a negative RMB 32,910,143.85 in the previous year[25]. - Basic earnings per share increased to RMB 0.2502, reflecting a 2.50% growth from RMB 0.2441 in the previous year[25]. - The weighted average return on net assets decreased to 7.02%, down from 7.96% in the previous year, indicating a decline of 0.94%[25]. - Operating profit reached CNY 142.30 million, up 3.42% year-on-year, with net profit attributable to shareholders increasing by 3.31% to CNY 90.79 million[78]. Market Expansion and Strategy - The company plans to increase its market layout and enhance core competitiveness in products and services, aiming for a 10% share of natural gas in primary energy consumption by 2020 and 15% by 2030[12]. - The company has signed projects covering over 10 provinces and established more than 40 subsidiaries, indicating significant regional expansion in B-end operations[6]. - The company continues to focus on expanding its market presence and enhancing product development in the energy technology sector[19]. - Future outlook includes strategic initiatives aimed at increasing operational efficiency and market share in the renewable energy sector[19]. - The company is actively pursuing new energy solutions across various sectors, including biomass, natural gas, and clean coal[5]. - The company is actively expanding its "coal-to-gas" market while enhancing its B-end operations and preparing for C-end retail market growth[78]. Investment and Financial Management - The company will not distribute cash dividends or issue bonus shares for the first half of 2018, focusing on reinvestment for growth[12]. - The company has increased its long-term equity investment costs due to additional capital contributions to joint ventures[72]. - The total investment amount for the reporting period was CNY 206,724,798.85, a decrease of 42.38% compared to the same period last year, which was CNY 358,779,470.89[93]. - The company has ongoing significant non-equity investments, with a total actual investment of CNY 261,770,216.99 as of the reporting period[95]. - The company plans to use up to RMB 80 million of temporarily idle funds from the non-public offering to supplement working capital, with a repayment period not exceeding 12 months[102]. Product Development and Innovation - The company has successfully completed and put into operation several projects, including the Black Dragon Pool Resort distributed energy station and the Sancha Lake scenic area energy station[39]. - The new generation of condensing boilers developed by the company achieves a NOx emission level below 30mg/m3 and a thermal efficiency of over 103%[42]. - The company has introduced new products such as hydraulic and electric door autoclaves, as well as touch screen control technology for preset autoclave process curves[45]. - The company has maintained a leading position in the domestic autoclave industry for over 30 years, leveraging advanced technology and a strong brand reputation[45]. - The company holds a total of 309 valid patents, including 52 invention patents, enhancing its competitive edge in technology[74]. Environmental and Social Responsibility - The company has implemented pollution control measures, including low-nitrogen combustion and flue gas desulfurization, ensuring emissions meet national standards[155]. - The company has established an emergency response plan for environmental incidents, complying with multiple environmental laws and regulations[161]. - The company has signed a framework agreement for poverty alleviation in Guizhou Province, actively participating in social responsibility initiatives[166]. - The company has engaged a third-party monitoring agency to ensure compliance with emission standards, with results meeting national and local requirements[162]. - The company’s wastewater discharge meets local standards for rural sewage treatment facilities[158]. Risks and Challenges - The company faces risks related to the performance of acquired companies, with potential discrepancies between promised and actual profits[10]. - The company is facing risks from a slowdown in the macroeconomic environment, which could impact the operational stability of industrial and commercial clients[115]. - The regulatory framework for natural gas pricing is evolving, with a focus on reducing transportation costs and enhancing market competition, potentially leading to lower terminal sales prices in the long term[59]. Shareholder and Equity Management - The company has implemented a stock option and restricted stock plan, granting a total of 5,450,000 stock options and 2,725,000 restricted shares to 58 incentive targets since 2014[128]. - The company has a commitment to lock 75% of the shares held by executives during their tenure, which will automatically lock upon meeting certain conditions[179]. - The total number of ordinary shareholders at the end of the reporting period was 20,422[186]. - Major shareholder Chang Hou Chun holds 14.02% of the shares, totaling 50,919,599 shares, with 12,767,943 shares pledged[186]. - The company’s stock incentive plan includes a phased unlocking mechanism, with specific percentages released over time[179].
迪森股份(300335) - 2017 Q4 - 年度财报
2018-04-20 16:00
Financial Performance - The company achieved a net profit of 6,443.08 million yuan for Devotion Home and 7,108.60 million yuan for Century New Energy in the first performance commitment period, exceeding the promised amounts[12]. - In the second performance commitment period, Devotion Home realized a net profit of 16,788.51 million yuan and Century New Energy achieved 8,671.38 million yuan, continuing to surpass performance commitments[13]. - The company's operating revenue for 2017 reached ¥1,920,714,675.15, representing an increase of 81.09% compared to ¥1,060,661,100.30 in 2016[28]. - The net profit attributable to shareholders for 2017 was ¥213,022,243.10, a growth of 67.06% from ¥127,509,834.82 in the previous year[28]. - The net profit after deducting non-recurring gains and losses was ¥214,051,733.91, which is a 90.45% increase from ¥112,391,633.71 in 2016[28]. - The basic earnings per share for 2017 was ¥0.5867, up 67.63% from ¥0.35 in 2016[28]. - The diluted earnings per share for 2017 was CNY 0.5867, an increase of 67.63% compared to CNY 0.35 in 2016[29]. - The net profit attributable to shareholders for Q4 2017 was CNY 49,716,261.70, with a total annual net profit of CNY 213,002,242.10, reflecting a strong performance across the year[31]. - The company reported a weighted average return on equity of 18.35% for 2017, up from 10.31% in 2016[29]. Market Opportunities - The "coal-to-gas" market in northern regions is expected to add 12 million new users and 9 billion cubic meters of gas from 2017 to 2021, indicating a significant market opportunity[11]. - The company is actively pursuing market opportunities in clean energy services, driven by favorable government policies supporting natural gas and biomass energy applications[6]. - The company is focusing on expanding its market presence in the biomass energy sector, leveraging government policies promoting natural gas and electricity alternatives[20]. - The company anticipates that the share of natural gas in China's primary energy consumption will continue to rise, aiming for 15% by 2030[60]. - The company is positioned to benefit from the ongoing market reforms in the natural gas sector, which are expected to lower terminal sales prices and enhance the economic viability of natural gas[63]. - The company is optimistic about a "golden decade" of sustained growth driven by increasing natural gas utilization rates and favorable market conditions[64]. Strategic Initiatives - The company is focusing on optimizing project investment and construction plans to improve capital efficiency and investment returns amid implementation risks[8]. - The company is enhancing platform construction and resource allocation to mitigate management risks associated with business expansion[9]. - The company is committed to strengthening project management and operational control to minimize risks associated with its diverse energy solutions[8]. - The company is actively pursuing strategic partnerships and potential acquisitions to strengthen its market position and technological capabilities[20]. - The company plans to enhance its product offerings with new technologies in high-efficiency condensing boilers and gas wall-hung boilers[20]. Product Development and Innovation - The company has developed a low-nitrogen condensing gas boiler, recognized as a high-tech product in Guangdong Province[46]. - The company has established a leading fully automated boiler production line, enhancing its manufacturing capabilities[79]. - The company is focused on continuous innovation and has launched new products based on the "ecological, energy-saving, and optimization" concept, including new air and water purification systems[79]. - The company has established a diversified sales network covering domestic and international markets, ensuring its wall-mounted boiler sales remain industry-leading[52]. - The company holds a total of 305 valid patents, including 51 invention patents, 246 utility model patents, and 8 design patents, covering various business areas[80]. Financial Management and Investments - The company plans to distribute a cash dividend of 1.2 yuan per 10 shares to all shareholders based on a total share capital of 362,610,545 shares as of December 31, 2017[14]. - The company received government subsidies amounting to CNY 14,333,281.55 in 2017, compared to CNY 10,867,636.36 in 2016[34]. - The total assets at the end of 2017 reached CNY 3,369,736,257.55, representing a 28.81% increase from CNY 2,616,115,457.69 at the end of 2016[29]. - The total net assets attributable to shareholders increased by 19.57% to CNY 1,265,091,480.72 at the end of 2017[29]. - The company reported a significant increase in inventory for E2C products, with stock levels rising by 622.78% to 118,030 units[95]. Risk Management - The company acknowledges the risk of underperformance from acquired companies, but has not observed any signs of underachievement in the performance of the acquired entities[12]. - The company is closely monitoring the impact of non-residential natural gas supply restrictions and price increases on its B-end operations[152]. - The company has established measures to avoid related party transactions and ensure fair pricing in unavoidable transactions[169]. - The company has not reported any violations of commitments regarding related party transactions and competition[169]. Corporate Governance - The company has committed to providing accurate and complete information for major asset restructuring, ensuring compliance with legal responsibilities[165]. - The company has not proposed any stock bonus or capital reserve transfer during the reporting period[159]. - The company has not faced any situations that could lead to suspension or termination of its listing[181]. - The company has maintained a continuous relationship with its domestic accounting firm for 10 years, with an audit fee of CNY 950,000[180]. Future Outlook - The company plans to issue CNY 600 million in convertible bonds to fund clean energy boiler upgrades and the transformation of the comfort home industrial park[147]. - In 2018, the company aims to accelerate the construction of signed projects to ensure early production and economic benefits, focusing on safe and efficient thermal products and services[144]. - The company intends to fully acquire Changzhou Boiler to establish a manufacturing and R&D base for B-end equipment, with plans for an annual production capacity of 20,000 steam tons of clean energy boilers[145].
迪森股份(300335) - 2018 Q1 - 季度财报
2018-04-20 16:00
Financial Performance - Total revenue for Q1 2018 reached CNY 477,480,963.68, an increase of 51.51% compared to CNY 315,147,770.67 in the same period last year[7] - Net profit attributable to shareholders was CNY 64,132,299.64, representing an 84.07% increase from CNY 34,841,325.92 year-on-year[7] - Basic earnings per share rose to CNY 0.1766, up 83.39% from CNY 0.0963 in the previous year[7] - Operating revenue increased by CNY 162.33 million, a growth of 51.51%, compared to the same period last year[30] - Net profit for Q1 2018 reached CNY 79,425,533.28, representing a 70.6% increase from CNY 46,563,051.66 in Q1 2017[75] - The net profit attributable to shareholders of the parent company was CNY 64,132,299.64, compared to CNY 34,841,325.92 in the previous year, marking an increase of 84.3%[75] Cash Flow and Assets - The net cash flow from operating activities improved to -CNY 46,265,612.67, a 37.70% reduction in losses compared to -CNY 74,264,342.97 in the same period last year[7] - Cash and cash equivalents decreased by CNY 194.99 million, a decline of 40.24%, primarily due to increased daily funding needs as the company's main business rapidly developed[28] - Total assets at the end of the reporting period were CNY 3,327,390,690.51, a decrease of 1.26% from CNY 3,369,736,257.55 at the end of the previous year[7] - Total current assets decreased from ¥1,553,970,595.74 to ¥1,466,124,620.36, a decline of approximately 5.63%[65] - Total non-current assets increased from ¥1,815,765,661.81 to ¥1,861,266,070.15, an increase of about 2.52%[66] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,333[19] - The largest shareholder, Chang Hou Chun, holds 14.03% of the shares, amounting to 50,919,599 shares, with 12,543,600 shares pledged[19] - The second largest shareholder, Li Zu Qin, holds 10.99% of the shares, totaling 39,907,935 shares, with 1,777,100 shares pledged[19] - The third largest shareholder, Ma Ge, holds 10.3% of the shares, equating to 37,379,159 shares, with 16,537,500 shares pledged[19] Market and Business Expansion - The company has signed projects covering over 10 provinces, establishing more than 40 directly or indirectly controlled subsidiaries nationwide[13] - The "coal-to-gas" market is expected to add 12 million new users and 9 billion cubic meters of gas demand from 2017 to 2021, indicating a predictable scale for future market growth[15] - The company is actively expanding its B-end operations and equipment business, with ongoing projects being put into operation and contributing positively to revenue[35] - The company is actively expanding its C-end product and service business, focusing on brand and channel development, particularly in southern retail markets[45] Risks and Challenges - The company has a risk of performance commitments not being met due to intensified market competition or business development not meeting expectations[16] - The company faces risks from macroeconomic downturns, which could impact industrial and commercial clients' energy consumption and project profitability[49] - The wall-hung boiler industry is experiencing intensified competition, prompting the company to focus on product quality and service to maintain market leadership[52] Investment and Financial Strategy - The company plans to issue convertible bonds totaling up to RMB 600 million to support its financial and investment strategies[53] - The company plans to fully acquire Changzhou Boiler Co., Ltd. to enhance B-end equipment manufacturing and R&D capabilities[45] - The company has temporarily supplemented working capital with up to 1,500 million of idle raised funds, which will be returned within 12 months[60] Operational Efficiency - The company is enhancing its internal management systems, including strategic planning and performance management, to improve project management efficiency[46] - The company plans to enhance its operational model and expand into energy management services, particularly in collaboration with strategic partners[44]
迪森股份(300335) - 2017 Q3 - 季度财报
2017-10-26 16:00
Financial Performance - Operating revenue for the quarter reached CNY 526,487,873.95, a 70.50% increase year-over-year[7] - Net profit attributable to shareholders rose by 65.25% to CNY 75,422,207.58 for the quarter[7] - The net profit after deducting non-recurring gains and losses increased by 66.44% to CNY 73,185,409.18[7] - Basic earnings per share increased by 66.06% to CNY 0.2094[7] - The weighted average return on equity was 6.49%, up from 1.89% in the previous year[7] - Total operating revenue for Q3 2017 reached CNY 526,487,873.95, a significant increase of 70.7% compared to CNY 308,794,284.81 in the same period last year[44] - Net profit for Q3 2017 was CNY 85,125,721.24, representing a 49.9% increase from CNY 56,834,613.47 in Q3 2016[45] - The net profit attributable to shareholders of the parent company was CNY 75,422,207.58, up 65.2% from CNY 45,641,061.26 year-on-year[45] - Earnings per share for Q3 2017 were CNY 0.2094, compared to CNY 0.1261 in the same quarter last year, reflecting a 66.0% increase[46] - The company reported a total comprehensive income of CNY 85,125,721.24 for Q3 2017, compared to CNY 56,834,613.47 in Q3 2016[46] - The total comprehensive income for Q3 2017 was CNY 198,565,950.60, compared to CNY 99,503,799.45 in Q3 2016, showing a doubling of comprehensive income[51] Assets and Liabilities - Total assets increased by 24.63% to CNY 3,260,438,927.24 compared to the end of the previous year[7] - Total current assets increased to ¥1,426,575,896.38 from ¥1,132,935,672.21, representing a growth of approximately 26%[36] - Total non-current assets reached ¥1,833,863,030.86, compared to ¥1,483,179,785.48, marking an increase of around 24%[37] - Total liabilities rose to ¥1,820,558,550.38 from ¥1,374,467,119.99, which is an increase of about 32%[38] - Total liabilities as of the end of Q3 2017 amounted to CNY 984,903,768.82, an increase from CNY 937,600,565.88 at the end of the previous year[45] - Owner's equity increased to ¥1,439,880,376.86 from ¥1,241,648,337.70, showing a growth of approximately 16%[39] Cash Flow - The company reported a net cash flow from operating activities of CNY 26,542,074.16, a decrease of 73.14% year-to-date[7] - Cash flow from operating activities was CNY 26,542,074.16, a decrease from CNY 98,817,940.65 in the same quarter last year, indicating a tighter cash flow situation[56] - Cash inflow from operating activities totaled 433,412,212.41 yuan, an increase from 365,830,743.38 yuan year-over-year[59] - Cash outflow for operating activities was 471,166,396.40 yuan, compared to 425,223,169.41 yuan in the previous period[59] - Cash inflow from financing activities was 421,194,095.59 yuan, significantly higher than 220,000,000.00 yuan in the prior period[62] - Cash outflow for financing activities totaled 358,858,979.25 yuan, compared to 116,070,520.99 yuan in the previous period[62] Shareholder Information - The total number of shares outstanding was 362,408,045 as of the reporting date[8] - The top shareholder, Chang Hou Chun, holds 14.05% of the shares, amounting to 50,919,599 shares[12] - The total number of restricted shares for major shareholders at the beginning of the period was 98,955,988, with 30,000 shares released and 199,275 shares added, resulting in a total of 99,125,263 restricted shares at the end of the period[18] - Major shareholder 常厚春 holds 38,189,699 restricted shares, which will be released after the lock-up period ends on the 10th of the month[18] - Shareholder 李祖芹 had 29,731,676 restricted shares at the beginning of the period, with an increase of 199,275 shares, totaling 29,930,951 restricted shares[18] - Shareholder 马革 maintained 28,034,369 restricted shares throughout the period, with no changes[18] - The company has a commitment to lock 75% of shares held by executives during their tenure, which will automatically lock for each year[18] - The total number of shares held by the top 10 shareholders remains unchanged during the reporting period, with no repurchase agreements executed[15] - The company has not disclosed any related party transactions among the top shareholders during the reporting period[15] - The company’s major shareholders have signed a joint action agreement, effective for five years, to maintain their coordinated actions[15] Operational Insights - The company plans to continue expanding its market presence and invest in new product development to sustain growth[48] - The financial report indicates a focus on improving operational efficiency and managing costs effectively to enhance profitability moving forward[48] - Operating costs rose by 415.56 million yuan, an increase of 98.43%, corresponding to the significant growth in operating revenue[25] - Sales expenses increased by 23.73 million yuan, a growth of 44.70%, due to increased marketing and operational maintenance costs[25] - Financial expenses increased by 22.74 million yuan, a growth of 619.37%, primarily due to increased interest expenses on commercial loans[25] - The gross profit margin improved, with operating profit at CNY 234,123,187.37, compared to CNY 97,115,058.35 in the previous year, reflecting a strong operational performance[50]