LEEJUN(SZ:002651)2016-04-22 16:00Financial Performance - The company's operating revenue for 2015 was CNY 573,580,576.88, a decrease of 22.46% compared to CNY 739,760,319.63 in 2014[18]. - The net profit attributable to shareholders for 2015 was CNY 144,842,246.50, down 44.46% from CNY 260,780,407.78 in the previous year[18]. - The net cash flow from operating activities decreased by 67.36% to CNY 94,134,215.37, compared to CNY 288,422,267.47 in 2014[18]. - Basic earnings per share for 2015 were CNY 0.14, a decline of 46.15% from CNY 0.26 in 2014[18]. - The weighted average return on net assets for 2015 was 7.81%, down from 14.03% in 2014, a decrease of 6.22%[18]. - The company reported a total of CNY 8.05 million in non-recurring gains for 2015, down from CNY 13.57 million in 2014[24]. - The company achieved a profit of CNY 2,820.37 million from the acquisition of Chengdu Dekun Aviation Equipment Manufacturing Co., exceeding the original profit forecast of CNY 2,600 million[124]. - The company reported a net profit of 125,409,523.44 yuan for the fiscal year 2015, with a cumulative distributable profit of 165,887,820.42 yuan[117]. Assets and Liabilities - Total assets at the end of 2015 were CNY 2,497,680,255.92, representing a 7.30% increase from CNY 2,327,655,789.64 at the end of 2014[18]. - The net assets attributable to shareholders decreased by 0.64% to CNY 1,862,932,532.73 from CNY 1,874,858,312.49 in 2014[18]. - The company reported a significant increase in impairment losses, with asset impairment losses rising by 119.78% to ¥26,007,873.32[66]. - The proportion of accounts receivable increased by 1.01% to 10.50% of total assets, indicating a potential increase in credit risk[70]. Dividends and Share Capital - The company plans to distribute a cash dividend of CNY 0.6 per 10 shares (including tax) based on a total share count of 1,002,500,000 shares[5]. - The company declared a cash dividend of CNY 60,150,000, which represents 41.53% of the net profit attributable to ordinary shareholders of CNY 144,842,246.50[121]. - The total distributable profit for 2015 was CNY 165,887,820.42, after accounting for a legal reserve of CNY 12,540,952.34 and previous year dividends of CNY 160,400,000[121]. - The company plans to increase its total share capital to 1,002,500,000 shares through a capital reserve transfer of 15 shares for every 10 shares held[116]. Acquisitions and Business Expansion - The company completed the acquisition of Chengdu Dekun Aviation Equipment Manufacturing Co., Ltd. in September 2015, expanding its business into aviation parts and tooling design[26]. - The company completed the acquisition of 100% equity in Chengdu Dekun Aviation for a total cost of 370 million RMB, enhancing its position in the aviation parts manufacturing industry[33]. - The revenue from the newly acquired Dekun Aviation from the acquisition date to the report date was RMB 35.1 million, contributing a net profit of RMB 1.78 million[47]. - The company plans to sign contracts worth 300 million yuan for high-pressure roller mills and related businesses in 2016[107]. Research and Development - The company holds 101 valid national patents, including 32 invention patents, demonstrating its strong research and development capabilities[38]. - The company’s R&D investment in 2015 was RMB 24.3 million, a decrease of 12.27% compared to the previous year[47]. - The company is investing 100 million RMB in R&D for new technologies aimed at improving production efficiency by 30%[191]. - The company is currently promoting a roller press system capable of processing 10,000 tons per day, which is considered advanced in the domestic market[42]. Market and Sales Performance - The company’s sales volume of cement roller presses and supporting equipment decreased by 25.42% in 2015, with a total of 44 units sold compared to 59 units in 2014[54]. - Domestic sales represented 99.66% of total revenue, while international sales dropped to 0.34%, a decline of 87.13% year-on-year[51]. - The total orders received for cement roller presses and supporting equipment fell by 59.72% to CNY 23,045 million in 2015 from CNY 57,212.80 million in 2014[57]. - The company’s main product, the roller press, is recognized as one of the most efficient and energy-saving crushing devices, widely used in the cement and mining industries[26]. Risks and Challenges - The company faces risks including economic policy adjustments, raw material price fluctuations, and market expansion challenges[5]. - The company is at risk of raw material price fluctuations affecting its operating performance due to the long supply cycle of its products[108]. - The company’s high-pressure roller mill products are still in the early stages of application in the mining industry, posing market expansion risks[109]. Corporate Governance and Management - The company’s board of directors and supervisory board were re-elected for a three-year term, with He Yamin appointed as chairman and Wei Yong as general manager[155]. - The total remuneration paid to all directors, supervisors, and senior management during the reporting period amounted to 6.9464 million RMB[199]. - The remuneration decision-making process involves the board's remuneration committee and requires approval from the board, supervisory board, and shareholders' meeting[199]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[127].