Addsino (000547)2020-04-29 16:00Dividend Distribution - The company plans to distribute a cash dividend of 0.88 RMB per 10 shares to all shareholders, based on a total of 1,605,678,881 shares[6]. - The company distributed cash dividends totaling 141,299,741.53 yuan, representing 20.93% of the net profit attributable to ordinary shareholders[148]. - The company distributed a cash dividend of 0.88 CNY per 10 shares, totaling 141,299,741.53 CNY, which represents 100% of the distributable profit[151]. - The distributable profit for the period was 506,104,867.41 CNY, after deducting the statutory surplus reserve[151]. Financial Performance - The company achieved operating revenue of CNY 4,039,258,215.89 in 2019, an increase of 14.89% compared to the previous year[21]. - Net profit attributable to shareholders reached CNY 675,265,452.73, reflecting a significant growth of 50.64% year-over-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 596,512,953.60, up 47.48% from the previous year[21]. - Total profit reached CNY 793 million, an increase of 44.10% compared to the previous year[45]. - Net profit amounted to CNY 723 million, up 42.32% year-on-year[45]. - The company's total assets increased by 16.44% to CNY 10,860,990,353.25 at the end of 2019[23]. - The weighted average return on equity rose to 9.05%, an increase of 1.35 percentage points compared to the previous year[21]. - The company reported a gross margin of 42.36% for the defense equipment industry, with a year-on-year increase of 3.21%[56]. Investments and Projects - The company made new investments totaling CNY 1.36 billion in various projects, including CNY 585 million in Wangxin Company and CNY 1.36 billion in I Company[40]. - The company has committed to various investment projects, including a brushless synchronous generator project with a cumulative investment of RMB 5,318.46 million, achieving 106.37% of the planned investment[101]. - The company has plans to establish R&D institutions overseas, with an allocated budget of RMB 5,000 million[101]. - The company has achieved a 101.69% investment progress in the new generation low-noise diesel generator project[114]. - The company has completed the advanced air and sea target research and development project, achieving multiple technical results and receiving military commendation[110]. Research and Development - The company has established a new research institute to support high-end talent acquisition and technological innovation[47]. - Research and development expenses increased by 30.55% to ¥413,887,146.15, reflecting a commitment to enhance R&D efforts[69]. - Total R&D investment was ¥563,017,330.49, which is 13.94% of operating revenue, up from 12.35% the previous year[70]. - The company is focusing on developing core technologies in cybersecurity and big data, aiming to create a comprehensive solution capability[137]. - The company is actively pursuing the development of micro-system technologies to support the miniaturization and integration of electronic products[137]. Market Strategy and Expansion - The company is actively expanding its 5G communication industry in alignment with national strategic layouts[34]. - The company plans to enhance its market presence in the marine engineering equipment sector, focusing on high-end international markets[35]. - The company aims to establish a high-end marine equipment system and expand its international market presence through the use of industrial internet platforms[132]. - The company is expanding its international market presence by leveraging its cloud and industrial internet platforms[138]. - The company plans to establish a 5G communication research institute and expand into military, private, and public network markets through mergers and acquisitions[138]. Governance and Compliance - The company has committed to avoiding any direct or indirect competition with its controlled enterprises in China, including Hong Kong, Macau, and Taiwan, for a period of two years after the completion of the transaction[159]. - The company ensures the independence of its operations, including independent assets, personnel, qualifications, and the ability to operate autonomously in the market[161]. - The company has established a governance structure that ensures complete separation from related enterprises in terms of office and operational locations[161]. - The company has committed to timely information disclosure regarding any related party transactions that may occur in the future[161]. - The company guarantees that its senior management will only work for the company and will not interfere with the decisions made by the board of directors and shareholders[159]. Risks and Challenges - The company emphasizes the importance of risk awareness regarding its future plans and strategies[6]. - The company is facing risks related to market competition and policy changes that could impact its defense-related business[139]. - The company has not reported any significant equity investment activities during the reporting period[91]. - The company has not engaged in any derivative investments during the reporting period[94]. Shareholder Commitments - The company’s major shareholders have agreed to a lock-up period of 12 months for shares acquired through the recent transaction, preventing any transfer during this time[167]. - The company will ensure compliance with the regulations set forth by the China Securities Regulatory Commission and the Shenzhen Stock Exchange regarding share transfers[167]. - The company has committed to a cumulative net profit target for the years 2017 to 2020, with a 70% unlock of shares after 36 months if the target is met[169]. - The commitments are legally binding and will remain effective until the shareholders no longer hold shares in the company[167]. Performance Commitments - The performance commitment for the acquired company includes net profits of no less than 160 million, 197.1 million, 232 million, and 265 million for the years 2017, 2018, 2019, and 2020 respectively[184]. - The cumulative performance commitment period for the restructuring is at least three years from 2018 to 2021, provided the restructuring is completed by December 31, 2018[186]. - The compensation obligations will not exceed the transaction price obtained by the compensation parties in this transaction[186]. - The company will conduct impairment testing on the acquired assets at the end of the compensation period[184].