EMT(SH:601208)2019-04-26 16:00Financial Performance - The company's operating revenue for 2018 was RMB 1,644,547,440.82, a decrease of 5.16% compared to RMB 1,734,079,596.12 in 2017[27]. - The net profit attributable to shareholders of the listed company was RMB 32,154,270.21, down 67.62% from RMB 99,297,125.82 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 9,607,807.67, a decline of 80.30% from RMB 48,765,789.93 in 2017[27]. - Basic earnings per share decreased by 68.75% to CNY 0.05 in 2018 from CNY 0.16 in 2017[31]. - The weighted average return on equity dropped by 2.92 percentage points to 1.38% in 2018 compared to 4.30% in 2017[31]. - The gross profit margin for the chemical new materials segment was 16.69%, a decrease of 3.82 percentage points year-on-year[55]. - The company reported a total revenue of CNY 1,611,455,186.13 with a gross margin of 16.69%, reflecting a decrease of 2.41% compared to the previous year[143]. - The insulation materials segment generated revenue of CNY 1,231,886,368.41, with a gross margin of 15.52%, down 5.96% year-on-year[143]. - The optical film materials segment achieved revenue of CNY 254,156,623.20, with a gross margin of 19.68%, an increase of 17.95% year-on-year[143]. Cash Flow and Investments - The net cash flow from operating activities increased by 153.30% to RMB 223,738,020.02 from RMB 88,330,266.57 in 2017[29]. - The company reported a net cash flow from operating activities of CNY -10,934,014.16 in 2018, a significant decrease from CNY 167,217,577.67 in 2017[35]. - The net cash flow from investing activities decreased by 286.48% to -185,241,838.27 yuan, primarily due to increased net purchases of bank principal-protected financial products[67]. - The net cash flow from financing activities increased by 252.53% to 64,566,572.55 yuan, mainly driven by a rise in net bank loans[67]. - The company's monetary funds at the end of the period amounted to 263,382,834.15 yuan, representing 8.29% of total assets, an increase of 64.39% compared to the previous period[68]. - The company reported a total receivables of 594,968,734.30, with adjustments made to accounts receivable and notes receivable[198]. - The accounts payable was adjusted to 126,819,557.15, reflecting changes in both notes payable and accounts payable[198]. Research and Development - The company focuses on R&D and sales of new chemical materials, particularly in optical films and environmentally friendly flame retardant materials[36]. - The company has established a strategic layout for its technology center, including a new R&D base in Chengdu to enhance innovation capabilities[42]. - In 2018, the company applied for 12 patents and received 10 patent authorizations, totaling 176 patent applications and 116 authorized invention patents by year-end[42]. - Research and development expenses totaled ¥82,352,523.47, accounting for 5.01% of total revenue[64]. - The company is committed to technological innovation and product development, with multiple projects passing provincial evaluations and achieving small-scale sales[119]. Market and Sales Strategy - The company’s domestic sales accounted for over 90% of total sales, with a focus on direct sales to end customers[39]. - The company plans to enhance its product structure by increasing investment in high-value-added products and expanding into emerging sectors to reduce reliance on the photovoltaic market[100]. - The company aims to leverage its competitive advantages in product quality and service to capture higher market shares in flexible DC/AC transmission and rail transit sectors[104]. - The company plans to implement a sales strategy emphasizing "effective volume and gross profit orientation," aiming to increase the proportion of high-value-added products[176]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of RMB 0.15 per share, totaling RMB 19,288,766.00, which accounts for 59.99% of the net profit attributable to shareholders[7]. - The company has repurchased 6,427,000 shares, with a total repurchase amount of RMB 9,986,156.00 as of December 31, 2018[7]. - The cash dividends for 2018 represent 59.99% of the net profit attributable to ordinary shareholders[193]. - The company has not made any adjustments to its cash dividend policy as of the report date[190]. Risks and Challenges - There are no significant risks that could materially affect the company's operations during the reporting period[9]. - The company faces risks from external economic conditions and market competition, which may impact demand for its main business[180]. - Rising labor costs and talent retention are critical challenges for the company, necessitating effective employee incentive mechanisms[184]. - Raw material prices, particularly those linked to international oil prices, significantly affect the company's production costs and overall performance[183]. Future Outlook and Plans - The company aims to achieve an annual revenue of 1.9 billion yuan in 2019, focusing on market expansion and operational efficiency[175]. - The company plans to invest in R&D and talent development, focusing on key national development directions in new materials[176]. - The company is focusing on the photovoltaic industry, which is expected to see a global installed capacity increase of approximately 621.7 GW from 2018 to 2022[159]. - The company plans to invest 150 million yuan in a project to produce 15,000 tons of specialty polyester film annually, with a construction period of 22 months[151].