DFAC(SH:600006)2017-04-14 16:00Financial Performance - In 2016, the company's operating revenue was CNY 16,018,020,957.59, a decrease of 5.08% compared to CNY 16,875,186,765.77 in 2015[17]. - The net profit attributable to shareholders was CNY 218,854,495.00, down 36.45% from CNY 344,379,885.08 in the previous year[17]. - The basic earnings per share decreased to CNY 0.1094, a decline of 36.47% from CNY 0.1722 in 2015[19]. - The total revenue for the automotive sector decreased by 3.38% to ¥13,393,335,661.59 from ¥13,861,256,141.63 in the previous year[1]. - Operating profit for the current period is ¥124,993,968.73, a decline of 34.87% compared to ¥191,796,873.81 in the previous period[169]. - Net profit for the current period is ¥70,194,314.87, down 75.48% from ¥286,432,035.35 in the previous period[170]. - Total profit for the current period is ¥104,139,466.53, a decrease of 62.32% from ¥276,007,898.19 in the previous period[169]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 101.72% to CNY 742,769,676.04, compared to CNY 368,217,879.56 in 2015[17]. - The company reported a significant increase in cash flow from operating activities, indicating improved liquidity and operational efficiency[17]. - Cash inflow from financing activities reached CNY 1,242,744,286.11, an increase from CNY 668,106,590.89 in the previous year[177]. - Net cash flow from financing activities was CNY 934,745,092.93, a recovery from a negative CNY -1,951,482,937.25 in the prior year[177]. - The ending balance of cash and cash equivalents was CNY 2,764,944,475.93, up from CNY 2,255,683,373.51 at the beginning of the year[177]. Assets and Liabilities - The total assets at the end of 2016 were CNY 21,504,534,963.15, representing a 6.36% increase from CNY 20,217,938,733.36 in 2015[18]. - Total liabilities rose to ¥14,094,968,780.70, compared to ¥12,066,356,509.01, indicating an increase of about 16.83%[164]. - Current liabilities totaled ¥12,530,460,233.36, up from ¥10,809,255,025.01, reflecting a growth of approximately 15.88%[164]. - The company’s total non-current assets amounted to CNY 6,020,000,000.00, with fixed assets valued at CNY 3,934,102,173.61, up from CNY 3,184,594,769.18, indicating a growth of about 23.5%[162]. Research and Development - The company has been focusing on enhancing its research and development capabilities, particularly in the field of new energy vehicles, since 2005[30]. - R&D investment totaled ¥649,926,684.59, accounting for 4.06% of total revenue, with 778 R&D personnel representing 11.44% of the total workforce[47]. - The company initiated the development of the ZD30 engine for National VI emissions standards, collaborating with AVL for performance evaluation and emissions calibration[53]. Market Performance - The company sold 180,000 vehicles during the reporting period, reflecting a year-on-year decline of 4.9% in sales volume[32]. - Engine sales increased by 7.5% year-on-year, totaling 165,000 units sold during the same period[32]. - The overall automotive market in China grew by 13.7% year-on-year, with total sales reaching 28.03 million vehicles[32]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of CNY 0.33 per 10 shares, totaling CNY 66,000,000, subject to shareholder approval[2]. - The company reported a cash dividend of 0.33 RMB per 10 shares for 2016, totaling 66 million RMB, which is 30.16% of the net profit attributable to ordinary shareholders[97]. Strategic Initiatives - The company aims to optimize its supply chain and improve operational efficiency through internal management enhancements[33]. - The company plans to continue focusing on market expansion and new product development to enhance competitiveness in the automotive sector[40]. - The company is focusing on developing new energy vehicles and enhancing core component technology to meet government regulations[94]. Compliance and Governance - The company strictly adheres to information disclosure regulations, completing 70 interim announcements during the reporting period[148]. - The board of directors held a total of 9 meetings during the year, with 8 conducted via communication methods, indicating a focus on remote governance[150]. - The audit report confirmed that the financial statements fairly present the company's financial position as of December 31, 2016, in accordance with accounting standards[159].