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天华新能(300390) - 2019 Q4 - 年度财报
2020-04-20 16:00
Financial Performance - The company's operating revenue for 2019 was ¥758,142,391.76, a decrease of 2.60% compared to ¥778,359,980.85 in 2018[12]. - Net profit attributable to shareholders for 2019 was ¥61,840,180.51, an increase of 23.00% from ¥50,276,850.33 in 2018[12]. - The net profit after deducting non-recurring gains and losses was ¥58,916,113.22, up 30.52% from ¥45,140,489.42 in 2018[12]. - The net cash flow from operating activities increased by 25.25% to ¥147,218,590.26 from ¥117,535,230.93 in 2018[12]. - Basic and diluted earnings per share for 2019 were both ¥0.11, representing a 22.22% increase from ¥0.09 in 2018[12]. - The total assets at the end of 2019 were ¥1,146,625,252.08, a 1.09% increase from ¥1,134,212,820.71 at the end of 2018[12]. - The net assets attributable to shareholders at the end of 2019 were ¥881,147,805.80, up 1.17% from ¥870,992,109.76 at the end of 2018[12]. - The company achieved total operating revenue of CNY 758.14 million in 2019, a decrease of 2.60% year-on-year, while net profit attributable to shareholders increased by 23.00% to CNY 61.84 million[26]. - The company reported a significant increase in long-term equity investments, which rose to CNY 177,183,600.49 in 2019 from CNY 73,500,983.01 in 2018, marking an increase of approximately 141%[146]. Dividend Distribution - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares to all shareholders, based on a total of 551,276,000 shares[2]. - The cash dividend represents 100% of the total profit distribution[65]. - In 2019, the cash dividend amounted to 27,563,800 yuan, accounting for 44.57% of the net profit attributable to shareholders[68]. - The company did not propose a cash dividend distribution plan for the year 2019 despite positive net profit[66]. - The cash dividend for 2018 was 51,682,125 yuan, which exceeded the net profit for that year, at 102.80%[68]. Research and Development - The company invested CNY 31.51 million in R&D in 2019, a 6.11% increase from the previous year, focusing on projects related to electrostatic protection and medical injection devices[27]. - The company plans to enhance its research and development capabilities in the medical device sector, particularly in disposable syringes and protective medical products[59]. - The company is focusing on expanding its market presence through new product development and technological advancements in various sectors[40]. - The company has a strong focus on technology integration and innovation, leveraging partnerships with research institutions and universities[24]. Market Position and Strategy - The company focuses on providing electrostatic and micro-pollution prevention solutions for the electronics manufacturing industry, with a wide range of products[18]. - The company is a leading supplier in the electrostatic and micro-pollution control industry, with a complete supporting system and integrated supply capabilities[20]. - The company has established long-term strategic partnerships with domestic and foreign health departments, disease control centers, and major hospitals[19]. - The medical device industry in China is expected to benefit from favorable policies and increasing public health expenditure, leading to rapid development opportunities[22]. - The company aims to enhance its medical device business in response to increasing market demand driven by aging population and improved health awareness, while closely monitoring government policies[60]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[2]. - The company has detailed potential risks and corresponding countermeasures in the section discussing future development prospects[2]. - The company faces market competition risks in the anti-static ultra-clean technology sector, which is influenced by macroeconomic cycles and has low market concentration[61]. - The company is exposed to foreign exchange risks due to its export transactions primarily settled in USD, necessitating effective risk management strategies[61]. - The company is addressing accounts receivable risks as its business expands, implementing strict credit policies and management systems to mitigate potential bad debts[61]. Corporate Governance - The company has established a commitment to maintain key personnel in their roles for a minimum of 5 years, with specific penalties for early termination of employment[72]. - The company has outlined a structured compensation plan for key personnel based on their tenure, with penalties ranging from 5% to 30% of their shares depending on the duration of their employment[72]. - The company has established a performance evaluation and incentive mechanism for its senior management to enhance operational efficiency[122]. - The board of directors consists of 6 members, including 2 independent directors, complying with legal and regulatory requirements[121]. - The independent directors attended all required board meetings, demonstrating active participation in governance[126]. Environmental and Social Responsibility - The company is committed to environmental protection and sustainable development, investing in wastewater treatment upgrades to reduce emissions[87]. - The company emphasizes employee rights protection and has established a three-party mechanism to address labor relations issues[87]. - The company has implemented a comprehensive procurement and supplier evaluation system to protect supplier rights[87]. - The company has a commitment to social responsibility and actively engages with stakeholders to balance interests[122]. Financial Management - The company aims to enhance its management efficiency and reduce costs through optimized product structures and improved production processes[27]. - The company will strengthen financial management to reduce costs and improve efficiency, ensuring accurate inventory management and timely reporting of inventory balances[60]. - The company has maintained compliance with relevant laws and regulations to protect the rights of shareholders, especially minority investors[87]. - The company has not engaged in any asset management or trust arrangements to control the company[102]. Shareholder Information - The total number of shares increased to 551,276,000 shares[64]. - The largest shareholder, Pei Zhenhua, holds 34.75% of the shares, totaling 191,564,067 shares, with an increase of 71,836,525 shares during the reporting period[98]. - The total number of ordinary shareholders at the end of the reporting period was 27,238, a decrease from 28,097 at the end of the previous month[98]. - The company has a total of 10 major shareholders holding more than 5% of the shares[98]. Audit and Compliance - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[138]. - The company reported no significant internal control deficiencies in financial reporting during the reporting period[133]. - The company’s internal control maintained effectiveness in all material aspects as of December 31, 2019[135]. - The company has maintained a continuous audit service with the current accounting firm for 12 years[77].
天华新能(300390) - 2018 Q3 - 季度财报
2018-10-22 16:00
Financial Performance - Net profit attributable to shareholders was CNY 17,187,738.91, representing a significant increase of 66.51% year-on-year[7]. - Operating revenue for the reporting period was CNY 204,538,757.40, up 7.23% compared to the same period last year[7]. - The net profit after deducting non-recurring gains and losses was CNY 21,649,823.09, an increase of 117.20% year-on-year[7]. - Basic earnings per share were CNY 0.05, reflecting a growth of 66.67% compared to the previous year[7]. - The company's operating revenue for the third quarter reached ¥106,626,588.04, an increase from ¥97,755,841.15 in the previous period[39]. - The net profit for the third quarter was ¥2,596,505.97, compared to a net loss of ¥628,148.07 in the same period last year, indicating a significant turnaround[40]. - The company's total comprehensive income for the year-to-date period was ¥39,922,046.50, compared to ¥24,250,023.58 in the previous year[45]. - The company's total profit for the current period is approximately ¥5.17 million, a recovery from a loss of ¥5.09 million in the previous period[48]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,044,975,973.90, an increase of 1.51% compared to the end of the previous year[7]. - Total liabilities decreased to CNY 139.44 million from CNY 133.21 million, reflecting a reduction in short-term borrowings[32]. - Cash and cash equivalents increased to CNY 44.38 million from CNY 27.65 million, indicating improved liquidity[31]. - The total equity attributable to shareholders increased to CNY 858.12 million from CNY 831.09 million, indicating growth in shareholder value[32]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 58,687,778.18, up 96.77% year-on-year[7]. - The net cash flow from financing activities decreased by 6937.38% compared to the previous period, mainly due to significant cash payments for dividends and bank loan repayments[17]. - The cash flow from operating activities generated a net amount of approximately ¥58.69 million, compared to ¥29.83 million in the previous period, indicating a growth of about 96.8%[49]. - The total cash inflow from financing activities amounted to 34,000,000.00 CNY, while cash outflow totaled 30,120,818.32 CNY[55]. Shareholder Information - The company reported a total of 31,042 common shareholders at the end of the reporting period[11]. - The largest shareholder, Pei Zhenhua, holds 34.75% of the shares, with 119,727,542 shares, of which 108,877,542 are pledged[11]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12]. Expenses - Sales expenses for the period amounted to 28.90 million yuan, an increase of 43.32% year-on-year, primarily due to increased business volume and sales investment[16]. - Financial expenses for the period were -1.29 million yuan, a decrease of 119.27% year-on-year, mainly due to increased foreign exchange gains[16]. - Research and development expenses were CNY 6.31 million, slightly higher than CNY 6.23 million in the previous year, indicating continued investment in innovation[34]. - The company incurred research and development expenses of approximately ¥10.35 million, slightly up from ¥10.15 million in the previous period, indicating a focus on innovation[47]. Investment Activities - The company signed a joint investment framework agreement with CATL to collaborate on the lithium battery new energy industry chain, focusing on lithium carbonate and lithium hydroxide[18]. - Investment activities generated a net cash flow increase of 31.75% compared to the previous period, mainly due to a decrease in fixed asset purchases[17]. - The company reported a decrease in investment activities cash flow net amount to approximately -¥32.55 million, an improvement from -¥47.69 million in the previous period[51]. Inventory and Receivables - Accounts receivable at the end of the period amounted to 6.20 million yuan, a decrease of 50.01% compared to the beginning of the period, mainly due to a smaller amount of received notes[15]. - Prepayments at the end of the period were 11.62 million yuan, an increase of 30.74% compared to the beginning of the period, primarily due to larger prepayments for material purchases[15]. - Other current assets at the end of the period reached 26.52 million yuan, a significant increase of 323.29% compared to the beginning of the period, mainly due to a larger balance of financial products[15]. - Inventory levels rose to CNY 59.90 million, up from CNY 57.89 million, suggesting a potential increase in production or sales[31]. Audit and Reporting - The third quarter report was not audited[56].
天华新能(300390) - 2018 Q2 - 季度财报
2018-07-24 16:00
Financial Performance - Total operating revenue for the first half of 2018 was CNY 378,055,067.72, an increase of 11.89% compared to CNY 337,883,810.54 in the same period last year[20]. - Net profit attributable to shareholders of the listed company reached CNY 20,230,550.58, representing a significant increase of 63.17% from CNY 12,398,101.44 in the previous year[20]. - Net cash flow from operating activities was CNY 30,175,787.14, up 152.47% from CNY 11,952,008.95 in the same period last year[20]. - Basic earnings per share increased to CNY 0.06, a 50.00% rise compared to CNY 0.04 in the previous year[20]. - The total profit amounted to 27.49 million yuan, reflecting a significant growth of 58.56% compared to the previous year[41]. - The company achieved a net profit of 27.5 million yuan for the year 2015, with a commitment to reach 35.5 million yuan in 2016 and 43 million yuan in 2017[75]. - The total operating costs amounted to CNY 358,191,647.49, up from CNY 321,900,425.29, reflecting a growth of 11.2%[136]. - The total comprehensive income for the current period showed a decrease of CNY 32,172,048, resulting in a total comprehensive income of CNY 22,354,679.71[149]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,014,648,177.18, a decrease of 1.44% from CNY 1,029,451,341.37 at the end of the previous year[20]. - Current liabilities totaled CNY 154,050,899.03, a decrease of 13.2% from CNY 178,808,538.85 in the previous period[128]. - Non-current liabilities decreased to CNY 5,804,811.31 from CNY 6,375,253.67, reflecting a reduction of 8.9%[128]. - The total liabilities decreased to CNY 159,855,710.34 from CNY 185,183,792.52, reflecting a decline of 13.7%[128]. - The company’s cash and cash equivalents decreased to 81,648,646.74 CNY, representing 8.05% of total assets, down from 9.32% in the previous year[54]. - Accounts receivable increased to 204,718,967.42 CNY, which is 20.18% of total assets, up from 18.87% year-on-year[54]. - Inventory rose to 108,004,263.85 CNY, making up 10.64% of total assets, compared to 10.11% in the previous year[54]. - The company’s fixed assets decreased to 234,772,743.92 CNY, representing 23.14% of total assets, down from 26.21% in the previous year[54]. Business Segments and Growth - The main business segments, including anti-static ultra-clean products and medical device syringes, showed steady growth during the reporting period[27]. - The anti-static ultra-clean product segment includes systems for human protection, process protection, and environmental protection, primarily serving the electronics industry[28]. - The medical device segment, led by subsidiary Yushou Medical, focuses on self-destructing and safety syringes, which are gaining traction in the healthcare sector[27]. - The company is positioned to benefit from the growing demand in the anti-static ultra-clean technology industry, driven by advancements in the electronics sector[29]. - The medical device industry is expected to see favorable growth due to supportive government policies and a focus on innovation[29]. - The company achieved a revenue of 378.06 million yuan, representing an 11.89% increase year-over-year[41]. - The medical device subsidiary, Yushou Medical, reported a revenue growth of approximately 20% in its medical device products, emphasizing the development of high-pressure syringes[44]. Research and Development - The company has established a comprehensive R&D model, enhancing product performance and technology through various collaborations[30]. - Research and development expenses increased by 2.95% to ¥10,834,528.68, reflecting the company's commitment to innovation[46]. - The company has obtained 19 major product registration certificates for medical devices, indicating a strong regulatory compliance and product development pipeline[48]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[136]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[5]. - The company is facing significant market risks due to the cyclical nature of the electronic information manufacturing industry, which may adversely affect performance if economic conditions change unpredictably[65]. - The company is actively expanding its business and product offerings, but faces risks related to the underperformance of new projects, such as the high-brightness ultra-thin backlight source project[67]. - Management is focused on enhancing internal controls and improving operational efficiency to address risks associated with rapid business growth and organizational changes[68]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has a strong commitment to fulfilling its obligations related to compensation agreements and share restrictions, ensuring compliance with prior commitments[73]. - The total number of shares subject to release from restrictions will be calculated by rounding down to the nearest whole number[75]. - The company has a commitment to ensure that the actual net profit does not fall below the specified amounts, or compensation will be required[75]. - The largest shareholder, Pei Zhenhua, holds 34.75% of the shares, totaling 119,727,542, with 108,877,542 shares under lock-up conditions[111]. - The company has a total of 159,723,358 restricted shares, with 3,046,879 shares released during the reporting period[109]. Compliance and Governance - The company is committed to strict compliance with the regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[75]. - The company has made commitments to avoid competition with its subsidiaries and will not engage in any competing business[81]. - The company has not reported any non-standard audit reports for the previous year[83]. - The company has not disclosed any specific reasons for unfulfilled commitments as none are applicable[81]. Future Outlook - Future guidance indicates a projected revenue growth of 20% for the second half of 2018, aiming for a total annual revenue of RMB 2.4 billion[79]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[79]. - The company plans to release 19,081,886 shares from lock-up for Pei Zhenhua on December 25, 2018, as part of the initial public offering commitment[108].
天华新能(300390) - 2017 Q4 - 年度财报
2018-04-20 16:00
Financial Performance - The company's operating revenue for 2017 was CNY 736,332,720.43, representing a 24.59% increase compared to CNY 590,988,701.73 in 2016[18]. - The net profit attributable to shareholders for 2017 was CNY 31,911,946.33, a significant increase of 98.61% from CNY 16,067,931.71 in the previous year[18]. - The net cash flow from operating activities reached CNY 88,126,801.77, marking a substantial increase of 301.65% compared to CNY 21,941,084.03 in 2016[18]. - The basic earnings per share for 2017 was CNY 0.09, an increase of 80.00% from CNY 0.05 in 2016[18]. - The total assets at the end of 2017 amounted to CNY 1,029,451,341.37, reflecting a 1.44% increase from CNY 1,014,863,220.14 at the end of 2016[18]. - The net assets attributable to shareholders increased by 3.94% to CNY 831,090,195.11 at the end of 2017, up from CNY 799,573,135.32 in 2016[18]. - The company reported a weighted average return on equity of 3.84% for 2017, up from 2.01% in 2016[18]. - The net profit after deducting non-recurring gains and losses was CNY 29,013,468.73, which is a 105.09% increase from CNY 14,146,814.32 in 2016[18]. Market and Product Development - The company's medical device segment experienced a growth of around 40% in 2017, with the high-pressure syringe business growing over 30% year-on-year[28]. - The overseas market sales for the company's anti-static ultra-clean products increased by approximately 25% year-on-year, enhancing the brand's influence in international markets[28]. - The company signed a strategic cooperation memorandum with Shenzhen Deep Super Optical Co., Ltd. for mobile phone panel product development, indicating a focus on high-end market positioning[29]. - The company has established a dual business structure combining electronic information and medical device sectors, enhancing its market presence and product offerings[28]. - The company is actively expanding its overseas market presence and optimizing its market structure to capture growth opportunities in the semiconductor industry[32]. - The company has developed a range of innovative products, including self-destructing and safety syringes, with specifications covering from 0.05ml to 200ml, catering to various medical needs[40]. Research and Development - The company’s R&D investment for 2017 amounted to ¥24,722,569.70, representing 3.36% of its operating revenue[66]. - The number of R&D personnel increased to 171 in 2017, accounting for 10.31% of the total workforce[65]. - The company filed for 11 new patents in the medical device injection product technology field during the reporting period, including 1 invention patent[46]. - The R&D projects include a real-time electrostatic monitoring system and a comfortable conductive shoe, both in small batch production[63]. - The company is focusing on new product development, including a disposable self-destructing vaccine syringe aimed at preventing secondary infections[64]. Financial Management and Investments - The company reported a significant increase in financial expenses by 342.13%, primarily due to exchange losses from the appreciation of the RMB against the USD[62]. - The company has a structured plan for performance compensation based on the actual net profit compared to the committed amounts[100]. - The company has established a shareholder return plan for 2018-2020, ensuring clear profit distribution policies to protect shareholder interests[91]. - The company reported an investment loss of ¥603,233.00 from the transfer of a subsidiary, impacting overall profitability[71]. - The company has not disposed of any significant assets or equity during the reporting period[76]. Risk Management - The company has outlined potential risks and countermeasures in its future development outlook section, emphasizing the importance of risk awareness for investors[5]. - The company is exposed to foreign exchange risks, particularly with USD settlements, and plans to implement flexible hedging strategies to mitigate these risks[86]. - The company is addressing accounts receivable risks by enhancing credit risk assessments and management practices to minimize potential bad debts[87]. - The company faces market risks due to the cyclical nature of the electronic information manufacturing industry, which could adversely affect performance if not managed effectively[85]. Shareholder and Governance - The company has established a clear framework for managing performance obligations and compensation arrangements[100]. - The company has made commitments to its minority shareholders, ensuring transparency and accountability in its operations[108]. - The company has a profit distribution policy that requires a minimum cash dividend ratio of 20% during growth phases with significant capital expenditures[93]. - The company has established an audit committee to oversee internal and external audits, ensuring the integrity of financial information and internal controls[180]. - The company maintains independence from its controlling shareholders in business, personnel, assets, and finances, ensuring autonomous operational capabilities[181]. Employee Management - The total number of employees in the company is 1,721, with 942 in the parent company and 779 in major subsidiaries[170]. - The company has established a detailed training plan focusing on management and business training, enhancing employee capabilities and aligning them with the company's vision and core values[172]. - The total remuneration for directors and senior management during the reporting period amounts to 2.75 million yuan[169]. - The company has a total of 1,721 employees receiving salaries during the reporting period[170]. Compliance and Legal Matters - The company is involved in a lawsuit regarding a debt of 15.56 million RMB, with ongoing court proceedings[119]. - The company has not reported any changes in accounting policies or significant accounting errors during the reporting period[113]. - The audit opinion issued by Huapu Tianjian Accounting Firm was a standard unqualified opinion[198]. - The company has no outstanding bonds that are due or have not been fully paid as of the annual report approval date[196].