Jasan Group(603558)2020-03-11 16:00Financial Performance - The company achieved operating revenue of CNY 1,780,368,877.71, representing a year-on-year increase of 12.86%[23] - The net profit attributable to shareholders reached CNY 273,312,959.07, up 32.39% compared to the previous year[23] - The net cash flow from operating activities was CNY 350,866,739.71, reflecting a growth of 36.23% year-on-year[23] - The total assets of the company at the end of 2019 were CNY 3,762,635,799.12, an increase of 3.94% from the previous year[23] - The net assets attributable to shareholders amounted to CNY 3,048,721,188.23, which is a 5.77% increase compared to the end of 2018[23] - The basic earnings per share for 2019 was CNY 0.68, representing a 36.00% increase from CNY 0.50 in 2018[24] - The diluted earnings per share for 2019 was CNY 0.68, representing a 36% increase compared to CNY 0.5 in 2018[25] - The net profit attributable to shareholders for Q4 2019 was CNY 45,709,853.96, a decrease from CNY 83,702,690.38 in Q3 2019[26] - The total operating income for 2019 was CNY 2,080,369,877.71, with a quarterly breakdown showing Q1 at CNY 403,189,271.27, Q2 at CNY 423,777,812.96, Q3 at CNY 484,924,694.56, and Q4 at CNY 468,477,098.92[26] - The weighted average return on equity increased to 9.33% in 2019, up from 7.24% in 2018, marking a 2.09 percentage point increase[25] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 3.5 per 10 shares, totaling CNY 188,741,245.38 available for distribution to shareholders[6] - The company reported a net profit attributable to ordinary shareholders of RMB 273.31 million for 2019, with a cash dividend payout ratio of 51.41%[91] - In 2019, the company distributed a cash dividend of RMB 3.5 per 10 shares, totaling RMB 140.52 million[91] - The cash dividend for 2018 was RMB 0.5 per 10 shares, amounting to RMB 79.76 million, with a payout ratio of 38.63%[91] Operational Highlights - The company’s main business is the production of knitted sportswear, serving major global brands such as PUMA, UNIQLO, and NIKE[34] - The company operates production bases in multiple locations, including Vietnam, which has seen a 7.5% increase in textile exports in 2019 compared to 2018[35] - The production base in Vietnam saw a 30% increase in sock sales, reaching 146 million pairs in 2019[46] - The company completed the construction of the Jiangshan Industrial Park, with an annual production capacity of approximately 120 million pairs of cotton socks and over 3,000 tons of cotton yarn and nylon dyeing[50] - The company launched a new fashion sportswear brand, JSC, targeting modern female consumers with a focus on style and comfort[41] Market and Sales Performance - The average export price of socks increased from USD 0.351 per pair in 2018 to USD 0.354 per pair in 2019, reflecting a 1% increase[35] - The total export volume of socks in 2019 was 15.22 billion pairs, representing a 10% year-on-year growth[35] - The company exported 6.28 billion seamless garments in 2019, with an export value of 1.232 billion USD, reflecting a year-on-year decline of 1.92% and 3.34% respectively[37] - Online sales accounted for CNY 1,966,636.65 in revenue, with a gross margin of 45.84%, while offline sales generated CNY 1,758,891,850.01 with a gross margin of 29.17%[74] Research and Development - The company established a creative R&D center and hired a Korean design team, leading to an increase in ODM orders[51] - Research and development expenses increased by 24.27% to CNY 50,384,780.47, accounting for 2.83% of total revenue[62] - The total number of R&D personnel was 421, making up 4.92% of the company's total workforce[63] Risk Management and Future Strategies - The company emphasizes the importance of market conditions affecting its future development strategies and operational plans[7] - The company has detailed risk factors and countermeasures in its report, highlighting potential challenges in future growth[9] - The company has developed a three-year strategic plan (2020-2022) to guide future actions and set quantitative operational goals[44] - The company aims to transition from high-speed growth to high-quality development, focusing on R&D and smart manufacturing[81] Environmental Responsibility - The company has not experienced any environmental pollution incidents or received administrative penalties during the reporting period[133] - The company has implemented strict pollution discharge standards, with no instances of exceeding discharge limits reported[138] - The company has established a wastewater treatment facility with a daily processing capacity of 1,000 tons since 2012, ensuring compliance with GB 4287-2012 standards for textile dyeing and finishing industry wastewater discharge[142] - The company has achieved an average dust removal efficiency of 99% for its boiler dust removal facilities[147] Corporate Governance - The company held 3 shareholder meetings, 7 board meetings, and 6 supervisory meetings during the reporting period, all conducted in compliance with legal requirements[191] - The internal control self-assessment report was disclosed on March 11, 2020, indicating no significant deficiencies in internal controls during the reporting period[197] - The company did not have any independent directors raising objections to company matters during the reporting period[195] Shareholder Information - The company has a total of 11,736 ordinary shareholders at the end of the reporting period, an increase from 10,774 at the end of the previous month[164] - The largest shareholder, Zhang Maoyi, holds 147,462,262 shares, representing 35.42% of the total shares[167] - The second-largest shareholder, Xia Kecai, holds 25,212,736 shares, representing 6.06% of the total shares, with a lock-up period until August 31, 2020[168]